The Reports That Matter: Accounting and Reporting Best Practices for Manufacturers Using Cetec ERP
We’ve had a blog series on considering selling, and what to think through if that is your plan. The best way to build trust (and value) is to have clean, accessible data. And the best way to get there? Good reporting habits inside your ERP system. And, those habits and practices are core to good, proactive business practices. So - what does that look like as a customer and user on Cetec ERP?
This post walks through which reports to run in Cetec ERP, how often to run them, and how to keep your financials and operations tight, whether you’re selling or just want peace of mind.
Section 1: Reporting Isn’t Just for Accountants
One of the key takeaways from this series is - the mindset and practices required to sell is that same for running an efficient business. Even if you’re not selling, or considering ever selling, you’re managing risk, spotting trends, and making better decisions. Reporting creates internal discipline, provides clear rewards to your team and business, and helps you right the ship when issues do occur. So much time is wasted chasing an issue a year after it started compared to 2 weeks after it arises. And lastly, for sellers: buyers want proof, not promises.
Section 2: Core Reports to Run Regularly in Cetec ERP
This a list of the reports you will pull from Cetec ERP, where to find them, and a couple ‘filtering’ suggestions. The next section discusses the frequency of running these reports.
1. Profit & Loss - the Income Statements
The P&L in Cetec ERP is under Accounting > Reports > Profit and Loss. You have a number of filtering options including % Sales, YTD, Period Type, and Display Cost Centers (also leveraged for profit centers). For multi-location or multi-entity reporting, use the Location filter (which is multi-select).
The Profit and Loss is real-time, as Cetec ERP is a perpetual ledger. You’ll likely want to chase questions and concerns from here. The values in the report within Cetec ERP provide a ‘drill-down’ to what is known as the Ledger Summary, which shows the object types posting to that account in a given time range. From the ledger summary, you can drill down deeper to the actual ledger showing the debits and credits, along with links to the posting object themselves (e.g. Invoices, Receipts, etc). From there you can assess issues - user errors, reviewing the ledger mappings (accounting rules), and so on.
Export to excel, or save as a PDF, and archive this!
2. Balance Sheet
The Balance Sheet can be found next to the Profit and Loss - Accounting > Reports. And similar principles apply for the filtering. Here you can see the monthly balances starting on a desired date.
On the Balance Sheet, you should be attempting to reconcile to your subledger - namely, your A/R Aging, A/P Aging, and Inventory (list by bin), all of which are detailed out below.
3. Cash Flow Statement
This will help demonstrate how well you manage your cash flow. The Statement of Cash Flows is also under Accounting > Admin.
There is some setup for this to operate correctly, which you can read about here.
4. Aging Reports (AP & AR)
Aging reports for Accounts Receivable (A/R) and Accounts Payable (A/P) are under Accounting > A/R Summary and A/P Summary, respectively. You can also view A/R by Customer and A/P by Vendor for a more detailed breakdown.
You can configure how to age your A/R and A/P - based on invoice date, due date, etc., and alter the time buckets (0-30 days, 31-60 days, etc). When you run these ‘As Of’, you see the open A/R and A/P as of that date. Cetec ERP includes the ability to drill down into the A/R and A/P Details reports, showing the actual invoices, credit memos, vouchers (vendor invoices), and debit memos, for that date filtering.
5. Work Orders / WIP Reporting
For manufacturers, unfinished work can represent either value or risk. Be ready to show what’s in process, why, and how it’s valued.
Some systems will auto-post WIP (work in process or progress). In Cetec ERP, these are operational reports provided that you will use to post your WIP numbers every period.
You will look for the WIP Aging report, with the WIP Material report as supporting data. Both are under Production > Orders. You can read more about them here.
And you can read about how to post your WIP here. It’s essentially two ledger entries - one to post the WIP material and labor, and one to reverse at the beginning of the next period.
The WIP Aging is similar to your Inventory report - you should be exporting and archiving this every financial period as it is live (though there are some options for As Of reporting).
6. Inventory Valuation Report
When you are setting up or implementing Cetec ERP, you first need to make sure inventory is properly valued - FIFO, actual, average, or standard. There are some core configurations and mappings that need to happen to ensure the data flows correctly.
From here, our recommended Inventory report is the List by Bin - Parts > Lists > List by Bin. This shows the inventory broken out bin, which is Cetec ERP correlates to lot or PO line receipt. There are many advantages to this granularity of reporting. If you are actual or FIFO, you see the individual costs of each receipt. You can also easily segment customer-owned inventory, or any number of other reporting options that are required by your customer or vendor contracts. List by Bin also also supports multi-location reporting.
Other reports you might consider are: Parts by Warehouse and Inventory Value, but List by Bin is always what we recommend as the accurate, live, up to date, inventory report.
Export this every period, and reconcile it to your Balance Sheet!
Section 3: Clean Books Start with Consistent Practices
Having access to the right reports is only half the battle. The other half is making sure the data in those reports is clean, current, and trustworthy. That comes down to process.
We have very robust documentation on recommended recurring accounting tasks (that should happen with every period close). You can read about them here.
Beyond that list, here are some habits to put in place:
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Close the books every month.
Set a deadline and stick to it. Don’t leave it open-ended. Monthly closes build rhythm, accountability, and clear historical checkpoints you can return to. -
Keep accruals current.
If you’re waiting until year-end to track expenses like payroll, rent, or contract labor, you’re not seeing your true financial picture. Make those accruals monthly, and keep them accurate. -
Reconcile your bank accounts.
Obvious, but often skipped. Pull your bank statement, run an Account Reconcile in Cetec ERP, and reconcile all of your cash accounts. Do the same for credit card accounts and loan balances where applicable. -
Reconcile inventory regularly.
Cycle counting and full physicals should feed back into your inventory valuation. If the Inventory List by Bin report doesn’t line up with what’s on your shelf or what’s on your books that’s a problem. -
Back up reports monthly.
Archive PDFs or Excel exports of your P&L, balance sheet, AR/AP aging, inventory valuation, and WIP. Keep a folder organized by month. When due diligence starts, you won’t be scrambling.
Section 4: Bonus Reports That Add Value in a Sale
If you’re positioning your business for sale, these reports can provide an extra layer of credibility and insight that makes buyers more confident in your operation.
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Customer Concentration Reports
Buyers want to know if your revenue is spread out or tied up in one big account. Run sales reports by customer (Sales > Reports > Sales By Customer) and filter for the last 12–24 months to show balance across your customer base. -
Sales by Part or Product Line
You can also pull sales by part category or product group to show diversification - Sales > Reports > Sales By Part (if you have your PRCs modeled to product line, you can do sales by Product Line, otherwise you may need a bonus column). This demonstrates product spread and market resilience, while also providing good forecast data. -
Vendor Performance Metrics
Reliable supply chain data speaks volumes. Pull vendor on-time delivery metrics and PO history under Purchasing > Vendors > Vendor Performance. A clean vendor scorecard helps prove stability and quality in your supply chain. -
Equipment Usage and Maintenance Logs
Especially important for capital-intensive manufacturers. You can show maintenance records and downtime history through custom reports or tracked preventative maintenance in Cetec ERP through the Tools, Equipment & Asset Mgmt feature set. This shows care and planning, not just operation.
Section 5: How Cetec ERP Helps You Stay Ready
Whether you’re planning to sell or just trying to run a more disciplined shop, Cetec ERP gives you tools to be more confident in your numbers. Here’s how:
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Centralized Data - No digging through inboxes or folders for old spreadsheets. Everything’s in one place.
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Real-Time Reporting - You don’t need to wait on a monthly close to know how you’re doing.
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Financial + Operational Visibility - Your reports tie directly to the shop floor, inventory, and purchasing activity. That’s powerful context.
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Audit Trails Built In - Every transaction is logged and traceable - whether it’s a GL entry, a PO, or a quality inspection. That kind of transparency is gold during due diligence.
Closing: Make Reporting a Habit, Not a Panic Move
Good reporting is like good hygiene. You don’t do it because something’s wrong - you do it so nothing goes wrong. It’s part of good business practices.
If a sale is on the horizon, consistent reports make the due diligence process smoother and less stressful. If it’s not, they make you a smarter, more confident business owner. You’ll catch mistakes faster, spot patterns earlier, and make decisions based on facts, not gut feelings.
And when you’re ready to talk value - or talk to a buyer -you’ll be ready.
Want help understanding or optimizing your reporting inside Cetec ERP? Reach out - we’re happy to walk you through it.