Job Cost Discrepancies

Top Previous Next

The Job Cost module is basically a subsidiary ledger to the General Ledger and it is used to record all of the detail transactions, both income and cost, that have been coded to a job. The general ledger records the same transactions but in summary form. Therefore, both the income and costs within the two module should be the same. The General Ledger vs. Job Cost Discrepancies Report is used to help reconcile these two modules.

Specific cost accounts should be set up in the chart of accounts to hold that transactions that will be coded to a job (direct or indirect job cost accounts). Transactions that are not charged to a job should never be coded to these accounts. Keeping these costs in the general ledger separate from non-job related costs will make the reconciliation of the job cost to the general ledger much easier.

The General Ledger vs. Job Cost Discrepancies Report grabs transactions from both the historical job cost transaction file (jobdetl.adt) and the historical general ledger transaction file (gldetail.adt) and prints a detailed list of discrepancies:

1. transactions that have been coded to a direct cost account without a job and phase

Note: As the transaction did not contain a job and phase, the transaction was only posted to the general ledger, therefore, the transaction will be listed only once on this report.

2. transactions that have been coded to a non-direct cost account with a job and phase

Note: As the transaction was coded with a job and phase, the transaction was posted to both job cost and the general ledger, therefore, the transaction will be listed twice on this report.

The discrepancies can be corrected with either a general journal entry or through the original source code (ie. a/p handwritten checks).