The standard report 'Result per Customer based on Production Order' shows the pre-calculation and actual cost amounts and times of all production orders that have been reported financially ready in the current selected fiscal year. It provides a breakdown by material, operations, and outsourcing. The report is grouped by customer.

The standard report 'Balance Sheet per Period' shows the totals of the income statement over a specified period. It groups revenues and expenses by category and shows the totals of debit, credit, and balance for each group. There is a distinction between different sub-levels, and the report includes options to suppress categories with no value. The goal is to provide insight into the financial performance of the organization during a specific period.

The standard report 'Result Comparison' shows a comparison of the financial results at the general ledger level compared to the budget and the previous fiscal year. It compares the actual balances with the budgeted amounts per category, calculates variations and ratios. These variations are presented at different detail levels (sub 1, sub 2, total). The report is intended to provide insight into where the actual costs or revenues deviate from expectations, including the option to include period 99 in the analysis.

The standard report 'Result Comparison Creditors' shows the difference between realized revenue and budgeted amounts per creditor. It compares the financial performance per supplier and calculates the difference and the corresponding percentage per line. Depending on the chosen sorting, the top-N creditors are displayed based on Revenue, Budget, difference (low/high or high/low), and percentage (low/high or high/low).

The standard report 'Result Comparison Debtors' shows the difference between actual revenue and budget per debtor. It compares the performance of customers by calculating the difference in euros and the percentage compared to the budget per debtor. Depending on the chosen sorting, debtors with the largest positive or negative difference are displayed. The report helps analyze variations in customer revenue and supports commercial or financial follow-up. Positive differences are displayed in green, negative in red.

The standard report 'Condensed Result Comparison' provides an overview of the balance/budget factor, period budget, period balance, and discrepancies per general ledger account.

Statement: a correct cost price per hour for man and machine leads to insight into the order and operating result. Experience shows that in practice the order and operating result almost never match. You can prevent this. MKG contains the BCO module for this purpose: budgeting, control, optimizing. In this webinar you will be introduced to BCO. In half an hour you will be taken through the steps you need to take in MKG to create a realistic budget and an executable operating plan.

BCO helps you to increase your insight into the financial situation of your company and puts you in a better position to determine your cost price. Do you have knowledge of cost prices and do you know the BCO modules? In this article you will find a step-by-step plan to easily set up BCO.

BCO stands for Budgeting, Controlling, Optimizing. BCO helps you increase your insight into your company's financial situation and enables you to better determine your cost price. By budgeting your hours and costs now, you will fully cover your business expenses for the coming year with direct and indirect hours, and you will maintain the alignment between order result and business result.

The standard dashboard 'Price Differences Analysis' provides insight into the price differences that have arisen based on the fixed settlement price.

The standard dashboard 'Result Comparison 5 Years' shows the result per general ledger account for the past 5 years. This dashboard can be used to monitor how the result has changed over recent times.

As an MKG3 user you have the choice of whether or not to use MKG's financial modules. With these financial modules you have access to a fully integrated accounting package. There is then no need to connect to other accounting software.

Process-based entries are all entries resulting from the purchase and sales processes. Updating these entries is the first step in the period closure. Use the Purchase Orders Action List and the Sales Orders Action List for this.

The fourth step in the period closing is determining the work in progress value. Use the 'Order List Financial' to report production orders financially ready that no longer belong in work in progress. After determining the WIP value, make the transaction entry.

The second step in the period closure is updating all manual entries. Think of manual purchase and sales invoices, bank statements, cash transactions, and periodic items such as accrued assets and payroll journal entries.

To fully and accurately record the cost price of an order in MKG, the actual costs must be processed. This is the third step in the period closure. After solving the outstanding demand, the hours must be definitively processed and production orders completed.

Do you manage inventory? Then you need to determine the inventory value. This is the fifth step in the period closure. Evaluate if there is inventory that needs to be revalued based on the 'Inventory List at Reference Date.' After revaluing items, you make the transaction entry.

The final step in the period closure is managing the financial reporting. Once all financial transactions are correctly processed, various reports can be generated in MKG. This includes not only mandatory reporting to the Tax Authorities but also various internal reports.

The creation and maintenance of general ledger accounts in MKG is done in the 'General Ledger Accounts' module.

To accurately depict the financial result at the end of a period (year, quarter, month), a number of steps must be taken. This checklist serves as a guide for performing the period closure in MKG.