Track Daily Job Costing Revenue and Expenses in SRM

Describes how to capture job costing information during your day to day use of SRM for use in the Job Cost Report.

Type

How to

Audience

SRM Counter?

Products

SRM

In This Article

Before You Begin

Required: Valid SRM account, valid login credentials and access permissions, existing job code, existing customer, existing site with associated job code

Optional: Existing A/P invoice, existing G/L journal entry, existing employee time tracking information 

Context

Track your daily job costing revenue and expenses to funnel data into your Job Cost Report, enabling you to gain insights into the profitability of a particular job site.  Job costing tracking occurs in one of two ways:

  • Automatically, when you post an invoice you created or added to
  • Manually by selecting a customer, site, and job cost code to apply the revenue or expense against when posting a G/L journal entry, creating or adding to an A/P invoice, or tracking employee time 

Steps

Track daily job costing revenue and expenses for invoices

  1. In SRM, do any of the following:
    • Create an invoice for a customer with a site that is set up for job costing
    • Enter a detail line on an invoice for a customer with a job costing site
  2. Post the invoice
    The expense/revenue information related to that invoice is captured in the Job Cost Report

Track daily job costing revenue and expenses for A/P invoices, G/L journal entries, and employee time tracking

  1. In SRM, do any of the following:
    • Enter a G/L journal entry
    • Receive an A/P invoice from a vendor that is associated with a site that is set up for job costing
    • Enter a detail line on an A/P invoice from a vendor with a job costing site
    • Update the employee tracking hours for an employee associated with a site that is set up for job costing
    If the action above has an associated job cost code for the customer/site, the Job Costing Customer, Site And Cost Code popup opens
  2. Use the Customer# field to select the customer that the journal entry, A/P invoice, or time tracking relates to
  3. Use the Site# field to select the job costing site that the journal entry, A/P invoice, or time tracking relates to
  4. Use the Job Cost Code dropdown to select the job cost code that relates to the journal entry, A/P invoice or time tracker
  5. Click Accept
    The expenses and revenue associated with the job cost code are tracked and are captured in the Job Cost Report 

Next Steps

 

Associate a Job Cost Code with a Customer/Site in SRM   View the Job Cost Report in SRM

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