What is Production

Production refers to the process of recording and tracking the cost of goods manufactured or produced by a company.

By using Simplebks, when a company/business produces any goods, it incurs direct and indirect costs such as raw materials, labor, overheads, and other expenses. These costs need to be accurately recorded and allocated to the products being produced. This information is critical for determining the cost of goods sold, gross profit, and net income.

By tracking your business production cost, you can better understand their costs and improve their financial performance. This information can also help businesses identify improvement areas, optimize their production processes, and make informed decisions about future investments in equipment, materials, and labor.