+61 (0)8 9345 0522ABN: 21 008 930 989ERP for Mining | Oil & Gas | Exploration | Drilling | Engineering | Construction

Costing

Project Costing

This module is a true multi-activity, multi-phasing Estimating and Costing module. It embodies Classic’s commitment to full integration linking directly with Payroll, Inventory, Creditors, Purchasing, Debtors, Invoicing and the General Ledger. For the miner involved in capital projects and both small and large jobs this module becomes the centre of the costing and purchasing side of the accounting system, including as it does estimating, project scheduling as well as costing. Special features have been built into this module for mining, exploration and Oil & Gas Companies to allow comprehensive reporting on joint ventures, projects, commitments and form 5 reporting

The Tenement/Costing Module is a comprehensive estimating, budgeting and costing module which with its complete integration to other modules of the Classic Software provides full billing as well as costing facilities.

The way the module is designed makes it suitable for the following six uses and more:

  • Tenement costing
  • AFE costing
  • Job Estimating and Job Costing
  • Capital Project Costing
  • Maintenance Costing
  • Capturing operating expenses for an operating entity

When used fully within the system it is in fact the central module with all of the other modules ‘posting’ data into it. Unlike any other financial system we know of on the market, you can update the Costing Module from:

  1. Purchase Orders
  2. Accounts Payable
  3. Inventory
  4. General Ledger
  5. Bank Reconciliation
  6. Payroll

Where you do not have all of the Classic modules mentioned above then you can enter costs from within the module itself. Moreover a unique set of features allows update ‘after-the-event’ from the financial modules – Cheque Reconciliation and General Ledger. (Special automatic allocations exist for costing unallocated expenses back to the Costing Module).

Advanced User Procedures

Included as a part of this Tenement/Costing manual are sections that are labelled “Advanced User Procedures”. These sections of the manual are designed to help you with the day to day operation of this Tenement/Costing application. The “Advanced User Procedures” sections could be useful in developing procedures for operating your Tenement/Costing installation.

Budgeting And Forecasts.

The uses you put the module to, will determine which of the three quite separate budgeting systems you use.

  1. If you have jobbing type jobs in the module you would use activity based budgeting or estimating – this is done from the lowest level up (we call the lowest level the ‘requirement’ level). These are whole-of-life estimates.
  2. If you are using the module for operations costs you may prefer period type activity budgets. We include a forecast option as well for every period within the fiscal calendar for each year.
  3. If you are using the module for tenement cost control then there is a separate total for the commitment or annual budget. This is useful to hold anniversary budgets.
  4. If you are involved in both exploration and production in the Oil Industry, the estimate budget is useful for Exploration and Development AFEs. The period Activity Budgets and Forecasts are useful for annual operations AFEs.

You may use any or all three budgetary systems with capital maintenance type of ‘jobs’.

Estimates To Tenements/Jobs From Estimates

Although the module allows the setting up of estimates or simply empty ‘structures’ which can be transferred into jobs, a separate estimates file allows old estimates to be maintained and added to from old jobs. Even parts of jobs – phases can also be saved to be reused or partially used as required in other jobs or estimates.

The module allows the setting up of estimates or simply empty ‘structures’ which can be transferred into jobs to provide a standardised breakdown of maintenance costs for each item of equipment. A separate estimates file allows old estimates to be maintained and added to from old jobs. Even parts of jobs – phases can also be saved to be reused or partially used as required in other jobs or estimates.

Linkages Between Modules To The Tenement Costing

Nearly all the modules post through to the Tenement/Costing module where both costing and billing transaction details are stored. When the full system is being used very little transaction entry is actually made in the Costing module itself, but whenever other modules are updating costs in the Tenement/Costing module a Tenement/Costing posting audit print-out is produced every time.

This is one of the unique features of the Classic Software – the ability to post from virtually anywhere in the system into the Tenement/Costing ‘basket’.

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.