Work recorded.Bring it together.Follow the figures.

Labour rates are set per person with an effective date, plus a burden percentage.

Overhead is one agreed basis: a percentage of labour, a percentage of material and labour, or a rate per labour hour.

Changing a rate is audited, and a workspace can require a resolved rate before a job is costed.

Clocked labour

Labour entries recorded against a work order are what the rate is applied to.

You set the rates. V5 applies and audits them; it does not decide your pay or overhead policy.

Labour & Overhead Rates

Effective 1 October

Operator hourly rate

32.00 + 18% burden

Effective from

1 Oct · new rate

Overhead basis

% of material + labour

Missing rate

Can be required before costing

Audit

Every rate change kept

Rates are dated, so an old job still costs what it cost.

Material, labour and overhead are rolled up into one actual cost per work order.

Each difference — price, usage, yield, labour rate and labour efficiency — is kept in its own account.

By-product and co-product output can share the cost on an agreed allocation.

Cost per work order

The same figures sit on the work order for the shop-floor and finance view.

Cost accuracy follows the data you record: issues, clocked time and the rates in force.

Work order WO-0219

Actual cost roll-up

Material

4,120.00 · from issues

Labour

640.00 · 20 h at 32.00 + burden

Overhead

Basis applied to labour

Total actual

5,201.00

Variance vs standard

+3.4% · split by cause

The roll-up is calculated server-side, so every screen shows the same figure.

The difference is the received quantity multiplied by the received price minus the standard price.

Results are grouped by item and by vendor, so you can see what and who drove the month.

A negative difference is favourable and is shown as one.

Vendor view

The same receipts feed the purchasing view, so buying and finance read one number.

Standards are yours to set and revise. V5 reports the difference; a person decides what to do about it.

Price differences · September

Receipt price vs standard

SKU-114

4.55 vs 4.20 · 12,000 = +4,200

SKU-208

7.92 vs 8.10 · 6,000 = −1,080

Grouped by

Item and vendor

Below standard

Favourable

Posted to

Its own price-difference account

Each receipt is compared with the standard cost in force that day.

Changing an item's standard cost revalues the stock on hand at the difference.

Each revaluation keeps prior cost, new cost, quantity, the resulting amount, its source and who made it.

Item cost history shows every change with a reason.

Cost history

Item cost history is the trail an auditor follows behind a valuation.

Valuation is standard-cost based. V5 does not offer FIFO, LIFO or weighted-average inventory valuation — FEFO and FIFO in V5 decide which lot is picked, not what it is worth.

Stock revaluation · SKU-114

Standard cost 4.20 → 4.55

Prior cost

4.20

New cost

4.55

On hand

8,400 units

Difference total

+2,940.00

Cost history

Reason and person kept

The revaluation is written when the standard cost changes, not at month end.

A closed period stops postings being made into it, enforced where the data is written.

Only closed periods can be built into a journal batch, and each line maps to an account code you maintain.

The batch is exported as a file formatted for the system you choose, and can be reversed with a written reason.

Supplier invoices

Vendor invoices are matched against the order and the goods receipt, with quantity and price differences shown.

V5 exports the journal; it does not post into your ERP by itself, and your ERP stays the financial record.

September Period

Close and journal

Status

Closed

Closed by

Controller · dated

Backdated posting

Refused by the database

Journal batch

Built from closed periods

Batch status

Draft → exported → posted · reversible

Reopening needs an owner and a written reason, kept on the period.