Job Cost
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| Job Cost allows you to project
your estimated completion amount and, therefore, a profit or loss for each
and all jobs. Costs to the Job Cost Module are provided from the Payroll,
Accounts Payable, and Contracts Receivable Modules and from the postings
of miscellaneous costs and billing entries to the job cost journal. Because report data is updated after every posting operation, the job cost reports are always current, giving the opportunity to make adjustments while the job is in progress, thus improving profitability. The cost categories used in job costing are tailored by you to meet the needs of each job. You enter estimated amounts and quantities according to your job cost estimate, and that becomes the basis for accumulating actual costs. The job cost reporting module then analyzes the estimated versus actual and gives you a variety of reports. For example if you are running a construction related business, understanding Job Cost is very vital. The whole bid process involves the administrative function of reviewing drawings, pricing materials, and determining man-power needs. But the processes do not end here with these costs. Competition as well as relationships with other companies involved with the job determine a final contract number. The correct job cost and a proper job cost system enables efficiency and long term profitability of an enterprise. |
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Accounting Job Cost Orders is a way of tracking construction costs and helps contractors |