Job Costing Overview

This Job Cost tracking processing can be used to associate a Job Cost Code to all revenue and expenses related to a customer and site, at the G/L level.
Relevant job codes can be flagged to be included in the Profit/Loss Total calculation on the Job Cost Report.
Job codes can be flagged to track specific revenue and expense items, including:

• Revenue for Inventory groups and products
• Taxes collected
• Damage Wavier collected
• Discounts offered to customers during AR Payment
• Trade Discounts
• Equipment Maintenance repair expenses
• Currency Exchange accrual
• Accounts Payable invoices associated with job
• G/L postings

Note: When Enable Job Costing is activated in the Company Posting Parameters, job cost tracking is optional, so not all customer/sites and not all postings require job cost tracking.

Process:

Each code created in Job Cost Codes can be added to a Customer Site Information. Job Cost codes can be specific to a site or can be shared across multiple different sites.
The customer/site combination is then required for all entry of revenue and expenses in order to track the costs.

• The counter processing prompts for customer an site information, to enable tracking revenue for a job code from the resulting invoice.
• Accounts Payable Invoices track expenses by prompting for the customer, site, and cost code, for the expense to be allocated as outlined in Job Costing Customer, Site and Cost Codes.
  Then when the A/P invoice is posted the expense is linked to the cost code.
• G/L Journals and checks prompt for an optional cost code in order to capture any miscellaneous revenue or expenses that should be associated with a job.
• Employee timesheets will also prompt for a customer, site, and cost code, in order to track employee time and dollars to the job code.

Setting up Job Costing:

The following flags and tables are required before Job Costing can be utilized:

1. Activate Enable Job Costing in Company Posting Parameters.

2. Set the two GL accounts used to manage Job Cost Payroll Expense and Job Cost Payroll Accrual in Default Accounts.
   These accounts are utilized when posting employee hours in Post Time Clock/Cost Entries.

3. Setup Site Managers and assign them to relevant sites in Customer Site Information.

4. Setup the Job Cost Codes with the pertinent values for each code.

5. Assign the Cost Codes to the sites in Estimated Billing window in the Customer Site Information with the number of units and the budgeted amount.

Job Cost Reporting:

Once captured and posted, job cost information can be reviewed in:

Job Cost Report
Contract Report
Contract Report by Name
Inquiry By Account#