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- Cost Accounting
- Process
- Build and issue the standard estimate
Build and issue the standard estimate
Turn a cost baseline into an issued estimate with a retained result. The handoff works when each person can follow the same source record and see the decision or operation result in context. Agree the record owner and the status rule before the first live cycle.
Step by step
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Build draft Cost Accountant
Cost Accountant enters the cost object, organization, effective date and cost lines.
- Holds baseline and element amounts
- Updates Standard cost estimates, Standard cost lines
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Review baseline Cost Accountant
Cost Accountant checks quantities, rates, cost elements and accounts.
- Checks object and account context
- Updates Business partners, Ledger accounts
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Issue estimate Cost Accountant
Cost Accountant runs Standard Estimate Issue Action on the draft; the action records its result and moves Draft to Sent.
- Records issue outcome and Sent status
- Updates Standard cost estimates, Operation receipts
Who does what
Roles and permissions- Cost Master Owner
- Maintains cost context; Cost Accountant prepares cost records; Cost Controller approves postings; Variance Analyst reviews differences; Finance Reviewer checks ledger evidence.
Set up Cost Accounting your way.
Start free, then use Proto to change fields, steps and approvals before your team goes live.