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The normal flow of activity in the Job Cost module consists of updating job budgets and billing items, generating contract billings, and printing the various job cost reports.
| 1. | Updating job items - Job budget and billing items should be entered into the system as quickly as possible in order to keep the job cost totals as up to date as possible. Remember that the system is date sensitive and, therefore, detail items should reflect the appropriate dates for original budget/contract amounts and change orders. If your company will be using the subcontractor payment sheets, then be sure to update the subcontractor information on the detail items. |
| There are several methods for entering detail items into a job. Detail items can be entered manually through the Job Cost > Update Jobs > Detail Items Tab or the process can be automated with one of the following options: |
| This option will allow you import data from a spreadsheet into the detail items. Many estimating programs allow their data to be exported to a spreadsheet format and the import option may save you time if your estimate consists of dozens or hundreds of records. |
| This option allows you to set up a new job based on either an existing job, the complete list of job phases from the master file, or from a template that you may create. |
| This option allows you to set up a new job based on the lot/plan master file or the buyer options master file. |
| This option is used to automatically prorate the profit and overhead on a contract to each of the billing items. Once each billing item has been assigned a billing amount, the contract can then be billed. |
| 2. | Generating contract billings - Progress billings, auto 100%, and retention billings may be generated through the Contract Billings option. A billing worksheet may be printed to assist in billing the individual items on a contract. Additional copies of the contract billings may be printed with the Reprint Contract Billings option. The Void Billings option completely reverses all entries of a single contract billing within all integrated modules. If the accounting method has been set up as accrual (this is the preferred method), then the customer invoices will be recorded as income and aged in the system based on the invoice date. The invoices will remain in an 'open' accounts receivables file until paid. Contract payments are posted through the Receivables module. |
| 3. | If you track Production Units on a job, then a production unit estimate must be entered on each phase and then a transaction must be entered to record the completed production units at the end of a specified period. The Production Units Capsheet Report is used to review the status of the units. |
| 5. | Printing job cost reports - There are currently nineteen reports available in the Job Cost module including 10 in the Contract Status Reports option. Detailed and summarized reports of committed costs, actual costs, revenues earned and profits on jobs may be printed as of the current date or for any period within the current fiscal. |
| 6. | Reconciling the job cost to the general ledger - As part of the month end reconciliation, the year-to-date revenue and costs that appear on the job cost reports should be reconciled to the general ledger. The Job Cost Reconciliation section of this manual includes a worksheet for reconciling the two ledgers. |
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