MoneyWorks Gold

Job Costing and Time Billing

Enter time sheets and material used for jobs. Automatically trap job disbursements through the creditors and cashbook. Apply markups to job items and automatically create invoices for the work provided. Use job reports to accurately gauge your profit.

• Record time, disbursements and resources used for individual jobs.
• Automatically trap disbursements against jobs when recording cash expenses or creditor invoices.
• Determine costs and revenue by job, and compare to budget.
• Print complete schedule of all cost components of jobs, organised by resource, cost centre, account.
• Automatically prepare itemised or summarised invoices from job sheets.
• Use cost centres to monitor job activity.
• Complete job analysis & reporting.
• Job/time sheets can be imported from other applications (Excel, FileMaker Pro, Access).
• Automatically calculate work in progress.
• Prepare job budgets automatically from quote.

What is Job Costing?

If you are an architect, graphics designer, mechanic, lawyer, builder or similar your income is derived primarily by selling your skills and time. In order to maximise your income, you need to manage and record the time you devote in working on specific projects or for specific clients.

In addition to time, you may have incurred some direct expenses in completing the work. For example there may courier charges, parts, subcontractors and more. You will want to recover these expenses from the client when you bill them, or, if you have provided a fixed quote for the work, you will want to check that you have made a profit when the job is completed.

The job costing module for MoneyWorks allows you to keep track of time and disbursements, and if necessary automatically invoice for them. It is designed to work with MoneyWorks, which will handle your other accounting needs such as cash management, GST tracking, creditors and stock.

How does it work?

You start off by specifying a job. A job can be something small, such as designing a flyer, or something large, such as building a house. Each job is given a unique code by which it is identified. Jobs may be priced on a cost plus basis, or you may have provided a fixed price quotation.

Time spent on the job is recorded either on a time sheet (for subsequent entry into MoneyWorks), or directly into the MoneyWorks "Job Sheet Items" list. There may be several different types of time and charge out rates depending on who is doing the work, so each type of time is also a given a code. In addition to time, any resources used or stock requisitions can be entered directly into the job sheet list.

At any point you can look at the total time and resources spent on a job, and also print out a job "profitability" report. You can also get breakdowns such as "who has worked on what job", "what jobs has Jo Bloggs been working on" and so forth.

At some point you will want to invoice the job (it may be that you even received an advance payment that you need to record). At any time you can bring up a list of unbilled work (and materials) used, and automatically create an invoice. Once the invoice has been created, the items it incorporates will no longer be unbilled, and will not appear in future invoices. Eventually you will prepare a final invoice for the job, and the job will be completed.

What about items specifically purchased for a job?

If you purchase an item for a job, you don't need to record that separately in the job sheet list. Instead, when you record the cheque or invoice into MoneyWorks, the details will automatically flow over to the job sheet list (possibly with a markup of some sort), and hence will appear in the unbilled items list.

What about Work in Progress?

Work in Progress is work carried out but not yet invoiced. Thus if you have half built a house, that house has some value and is an asset. Your accountant will want an estimate of work in progress at the end of the financial year, and you may want it more often for management purposes. As you would expect, MoneyWorks will automatically determine your work in progress for you should you require it.

previous page: Products & Inventory

next page: Custom Forms