Engineer To Order (ETO), Make to Order (MTO), Government Contractor, Job Shop and Maintenance Repair and Overhaul manufacturing companies require ERP job costing software that provides project cost, job cost. contract cost and job cost accounting that is up-to-date and available for every job, contract ,or project at any given time. Jobscope ERP Job Cost accounting effectively meets this requirement by allowing management to enter and maintain multiple budget projections and ongoing updates to those projections (budgets), while at the same time automatically accumulating actual costs-to-date and computer-projected Estimates-At-Completion (EAC) and Estimates-To-Complete (ETC)
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Real Time ERP Job Costing Software
Job Cost, project cost, and contract cost are all terms that represent the total costs accumulated for a particular contract, job, or project. It consists of the combined value of the labor, engineering, materials, outside processing, freight and manufacturing overhead incurred in producing a job’s line items or deliverables. In JOBSCOPE’s ERP job cost software activities like purchasing materials and services, issuing materials to a job, collecting labor through either Labor Collection or Task Planning, recording freight charges, and entering any miscellaneous or special charges all impact job costing.
The accounts that are used to accumulate costs for jobs are specified in the table that contains WIP (Work-In-Progress) Codes. These accounts are referenced by the WIP Code that is entered on the Job cost accounting screen at initial order entry. Thus, these accounts do not have to be manually entered each time a charge is made to a job.
Multiple User Defined Budget Codes & Cost Categories
All job budgets and actual costs are maintained by cost category. A job cost category may be created for each separate “bucket” in which the customer wishes to segregate costs. Although categories are user-defined, they are usually set up such that they group costs under headings of hourly labor costs, salaried labor costs, material costs, freight costs, overhead amounts, out side processing, and miscellaneous costs.
Job Cost Categories are specified for every part, assembly, and work center throughout the system. The Category field must be completed in the following situations.
- When stock inventory items or lot inventory materials are entered in the Inventory subsystem
- When parts and assemblies are entered in the Engineering Bill of Materials (BOM) subsytem
- When employees are entered through the Employees screen
- When work centers are defined on the Work Centers screen
When a cost is charged to a job, the the job cost accounting system uses the information outlined above that has been previously entered; it therefore knows which cost category should be charged.
Sales Budgets & Currents Budgets
The overall job budget allows two budget figures for each cost category listed on the budget. These figures fall under the headings of Sales budget or Original Budget and Current budget. The sales budget is usually defined as soon as the job is entered and represents the initial estimates or cost for each cost category on the job. The current budget is maintained by the user to reflect up-to-date cost estimates.
In addition to manually entering job costing budgets, JOBSCOPE’s ERP job cost software furnishes three methods for automatically creating budgets for a job.
- Create Job Cost Budgets from Estimates – This option calculates budget amounts based on the line items for a specified estimate. The budgets for material categories are defined according to the lowest level BOM structure for each line item on the estimate. The budgets for labor categories are derived from the operations required to produce each estimate line item.
- Create Job Cost Budgets from Work Orders/Operations – This option uses the BOM structures and operations on a job’s existing work orders to calculate budgets for the job.
- Create Job cost Budgets from outside system – This option uses the Jobscope’s integration tool kit to integrate with an external estimate or another estimating system
JOBSCOPE’s ERP job cost software also provides a facility to check for budget overruns on job charges. If this optional feature is used, the user may specify either a percentage value or a monetary amount overage to be allowed. When charges to a certain job cost category become greater than the category’s current budget estimate plus the allowable overrun percentage or dollar value, no additional charges can be entered for that cost category on the job. The overrun percentage provides a fool proof job cost accounting method for keeping abreast of charges that exceed budget amounts.
Jobscope Job Cost Software, Project Cost Software features
- Time and Material Billing
- Change order processing
- Profitability Analysis by job, project, and contract
- Automatic updating of job cost from transactions entered throughout the system
- Classification of job costing charges by user-defined categories to differentiate various types of costs
- Ability to enter and maintain original and current budget figures for each cost category
- Audit trail of budget changes
- Job based ERP & MRP functionality
- Actual versus estimated cost comparisons
- Various formulas for calculating percentage completion
- Job accounting software functions for calculating and applying cost-of-sales and earned revenue
- Percentage Completion Accounting
- Progress Billings with Retainage and Retention processing
Contact us for additional information on Job Cost Software.
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