Job Cost Management: An Overview
Importance of Job Cost Management
Across all organisation types, the profitability of your business rests on how quickly and accurately you allocate time, resources, materials, purchases, and revenues to jobs and projects.
Understanding the true costs of doing business is critical. Unfortunately, many businesses have outdated job cost data or cumbersome calculation methods that do not provide a comprehensive or detailed view of the actual costs of production or servicing their market.
From a manufacturing point of view, it is important to work with tools that enable the true “end-to-end” costs of production but also servicing each market segment or customer. Taking a broader view – manufacturing & wholesale organisations may need to be to allocate R&D or development costs to specific customers as well as factoring in expenses relating to servicing the customer, such as account management and the costs of distribution.
For service based organisations and professional service terms, maintaining accurate time sheets is critical as well as allocating related service and product costs. Experience shows that reporting and staff interfaces need to be simple and easy to use and should incorporate mobile tools for ultimate flexibility.
Across all organisation types, Job Cost Management extends beyond invoicing and simple profit measures to developing a detailed understanding of workflows and resourcing – driving operational efficiencies to further enhance profitability and customer satisfaction and providing fact-based data for management decisions.
Greentree Job Cost Management
Greentree gives your business the agility it needs to respond to customer needs more effectively and profitably than ever before.
The Greentree Job Cost Management module is a key tool to enable your organisation to get the visibility and financial insight you need to take the lead.
Greentree empowers your organisation and managers with the tools to define and view real-time job status and profitability for ultimate efficiency and cost controls.
1. Flexible Job Structure
Meet any business need with unlimited level job structures (sub jobs, phases, tasks). Use pre-defined templates to ensure new job creations are quick and easy. Get the full picture with analysis and reporting at any level of the job or at a summary level. Eliminate the complexity of cost apportionment and billing with the option to split jobs across different customers.
2. Enterprise-wide control
Total integration across all MYOB Greentree modules allows for costs to be captured and analysed in the most meaningful way. Have an up-to-date picture of your costs and revenue at any time.
3. Financial management
Turn quotes into proforma invoices and estimates to track actual costs against original estimates. Maximise your revenue and cost more precisely than ever with the unlimited ability to set cost and sell rates right through to specific material costs and labour activities.
Take charge of every project, as all cost transactions update the General Ledger work-in-progress account, ensuring you always know exactly how closely a job is tracking to budget and timings. Eradicate billing errors with multiple price books and pro forma invoicing.
4. Planning boards
Highly visual planning boards ensure that the status of all jobs can be tracked in real time.
5. Analysis and reporting
Get started immediately with pre-built and easily tailored management and operational reports. Use the extensive filtering capabilities to make reports and enquiries possible, down to the most detailed level.
In next weeks EDM, we’ll cover 10 Greentree Key Job Cost Features – in the meantime, if you’d like more information on Greentree or Ndevr, please contact:
Rob Sheldrick – Business Development Manager – email@example.com