Enables you to accumulate information about the expenses incurred on a job in relation to the revenue produced by that job.
This information will allow for more accurate future quote estimates in order to achieve maximum profit margins.
Job Costing enables you to:
- Keep track of all cost associated with the job.
- Ensures that all costs are invoiced to your customer.
- Report on all costs and income per job.
Job costing using accounting software enables you to track a number of factors and analyse the results to aid decision making. A Job costing report helps you ensure that all costs involved in a job have been properly invoiced to the customer.
Using job costing will allow you to identify the most and least profitable areas of your business, so that you can focus on the profitable elements, and try to make the less profitable aspects of your business more efficient. It will help you to quote new jobs more accurately, and assist you in managing jobs in progress.