JC Process Cost Codes Template window
Use this window to set up Process Cost Code Templates to estimate process costs, budgets, and prices. You will add these Codes to phases, which you’ll then add to jobs, or you can add them directly to jobs.
You can only enter cost activity for Process Cost Codes if Payroll is not integrated to Job Cost. If Payroll is integrated to Job Cost, expenses will post to the Job Cost WIP accounts when you post payroll.
Job
This field only appears if you open the Cost Code from a
Job Management detail line. It displays the name of the job and cannot be edited.
Phase
This field only appears if you open the Cost Code from a
Job Management detail line. It displays the name of the phase and cannot be edited.
Update template
This check box only appears if you open the Cost Code from a
Job Management detail line. If you want to save your changes to the Code Template in addition to the job, select this check box before you click
OK.
Code
Enter a Cost Code of up to 20 characters to identify this template.
Description
Enter a description of up to 50 characters for this Code template.
Units Produced
Enter the number of items you need to produce during this process.
Labor Units
Enter the labor units you want to include in this template.
Labor Cost Per Unit
Equipment Units
Enter the equipment units you want to include in this template.
Equipment Cost Per Unit
Enter the equipment cost.
Overhead Type
From the drop-down, select the type of overhead you want to calculate for this template. Your options are:
• None: select this option if you do not want to calculate overhead costs.
• Per units produced: select this option to calculate overhead costs per unit produced.
• Labor units: select this option to calculate overhead costs per labor unit.
• Labor cost: select this option to calculate overhead costs by the labor cost.
• Equipment units: select this option to calculate overhead costs per equipment unit.
• Equipment cost: select this option to calculate overhead costs by equipment cost.
Overhead Rate
Enter the overhead rate for this template.
Estimated Cost
The fields in this column are read-only and display the cost estimate for the row.
Total Estimated Cost
This field is informational only and displays the sum of the labor, equipment, and overhead costs.
Budget
Enter the cost limit for this Code template.
Price Estimate
Use this drop-down to select whether you will estimate the price you will charge for this process by markup, margin, or dollar. If you choose Markup or Margin, your entry will become the default until you leave the window or select something different from the drop-down. If you are entering several Cost Codes, this can speed up your entry.
• Dollar: if you select this option, enter the price in dollars.
• Markup: If you select this option, the dollar box to the right of this field is disabled and you can enter a percentage to mark up the cost estimate. The amount in the dollar box adjusts to reflect the cost estimate plus the markup. The formula for markup pricing is Cost Estimate (1 + (Price Estimate% / 100)).
• Margin: If you select this option, the dollar box to the right of this field is disabled and you can enter a margin percentage to add to the cost estimate. The amount in the dollar box adjusts to reflect the cost estimate plus the margin.The formula for margin pricing is Cost Estimate / (1 - (Price Estimate% /100)).
Scheduling
Use this section of the window to establish when you need the process, when you’ll begin to use this process on the job, and when you plan to be finished with the process.
Needed on day <x> of the job
Enter the day you need this process in place on the job. For example, if you need this process on the 2nd day of the job, enter 2.
Start on day <x> of the job
Enter the day of the job you will begin to use this process.
Complete on day <x> of the job
Enter the day of the job that you will finish using this process.
Labor Account
This field only appears if you open this window from a
Job Management detail line. It defaults to the labor expense account you set up on the
Expense Accounts tab of the job. If you didn’t define an expense account, this field displays the account you entered on the
Expense Accounts tab in Module Preferences. You can change the account for this detail line.
Once you change the account for the detail line, it will override any changes you make to the account number in Module Preferences or on the Expense Accounts tab of the job.
Equipment Account
This field only appears if you open this window from a
Job Management detail line. It defaults to the equipment expense account you set up on the
Expense Accounts tab of the job. If you didn’t define an expense account, this field displays the account you entered on the
Expense Accounts tab in Module Preferences. You can change the account for this detail line.
Once you change the account for the detail line, it will override any changes you make to the account number in Module Preferences or on the Expense Accounts tab of the job.
Overhead Account
This field only appears if you open this window from a
Job Management detail line. It defaults to the overhead expense account you set up on the
Expense Accounts tab of the job. If you didn’t define an expense account, this field displays the account you entered on the
Expense Accounts tab in Module Preferences. You can change the account for this detail line.
Once you change the account for the detail line, it will override any changes you make to the account number in Module Preferences or on the Expense Accounts tab of the job.
Labor Liability Account
This field only appears if you open this window from a
Job Management detail line. It defaults to the labor liability account you set up on the
Expense Accounts tab of the job. If you didn’t define a liability account, this field displays the account you entered on the
Expense Accounts tab in Module Preferences. You can change the account for this detail line.
Once you change the account for the detail line, it will override any changes you make to the account number in Module Preferences or on the Expense Accounts tab of the job.
Liability Account
This field only appears if you open this window from a
Job Management detail line. It defaults to the liability account you set up on the
Expense Accounts tab of the job. This is the liability account for equipment and overhead. If you didn’t define a liability account, this field displays the account you entered on the
Expense Accounts tab in Module Preferences. You can change the account for this detail line.
Once you change the account for the detail line, it will override any changes you make to the account number in Module Preferences or on the Expense Accounts tab of the job.
Related Topics
Published date: 10/20/2020