The Job Costing System tracks all costs related to jobs done by the company.
Some of the features of the Job Costing System include:
The Job Costing System tracks all costs related to jobs done by the company.
Each job in the Job Costing System is given a unique number that identifies the job.
Each job can be subdivided into any number of activities used to track costs of individual tasks within a job. Each of these activities refer to a general ledger account number where the costs are to be accumulated.
Each activity contains costs to date for that activity along with budget estimates.
Job cost reports can be used to compare the actual expenditures against the budgeted amounts to watch the progress of a job.
All of the Accounting System modules can charge costs to an activity of a job.
Payroll costs can be charged against an activity through the Payroll System.
Direct purchases are charged against an activity.
It is also possible to charge the cost of inventory items used against an activity.
The Job Costing System transfers the costs of a job to a work in process account while the job is in progress, and transfers those costs to the proper expense accounts when the job is completed.
A job may be created using existing jobs as a model. For example, a job may be create using the actual costs of an existing job as the budget estimates for the new job.
Many types of job cost reports are available which give various levels of detail. The reports range from giving one total per existing job to detailing every single transaction that has been made against each job.
The Job Costing System features can be accessed from the Select, Reports and Maintenance sections off the main accounting system menu. The following list outlines the Job Costing System features and how they can be chosen from the main menu:
Select
Job Costing
Jobs and Activities
Job Masters ..........(Print)
Create Duplicate Job + .......(Process)
Post Jobs / Work in Process
Reports
Job Costing
Post Jobs / Work in Process
Job Masters
Job Cost Work in Process Journal
Job Cost Report
Job Cost with Detail
Maintenance
Delete Old
Closed Jobs
Job Cost Journal Entries
The Job Cost System is used for entering and updating the job and activity master records. This manual documents the following procedures:
The data entry of records in the job master file.
The data entry of records in the job activity master file.
The process of creating duplicate jobs from an existing job.
The process of posting a job to and from the work in process account.
The process of deleting old closed jobs from the system.
The process of deleting old job cost journal entries.
The printing of job cost reports listed on the Reports, Job Costing.