JOB COSTING

JOB COSTING

The job costing feature allows to track cost and revenue information down to the smallest detail. Costs associated with the planning, implementation and completion of a project or job are known as job costs. It includes expenses related to labour, material purchase, subcontractor costs, as well as other costs and inventory consumed on projects. You can track the costs/ expenses by assigning them to specific incomes received on account of jobs/ projects, job costing is used.

Working steps:-

 First of all, create a company and then activate job costing as follow:

To Activate Job Costing: - G.O.T. (Gateway of Tally)--> Press F11 (Company Features)--> Press F1 (Accounting Features).

After that, activate multiple godowns as follow:-

To Activate Multiple Godowns: - G.O.T. (Gateway of Tally)--> Press F11 (Company Features)--> Press F2 (Inventory Features).

Now create cost category:-

To Create Cost Category: - G.O.T. (Gateway of Tally)--> Accounts Info--> Cost Categories--> Create (Single).

And then create cost centres:-

To Create Cost Centres: - G.O.T. (Gateway of Tally)--> Accounts Info--> Cost Centres--> Create (Single).

Create multiple ledgers as follow:-

Path for ledger creation: - G.O.T. (Gateway of Tally)--> Accounts Info--> Ledger--> Create (Multiple).

Now create stock master as follow:-

To create stock group: - G.O.T. (Gateway of Tally)--> Inventory Info--> Stock Group--> Create (Single).

To create stock item: - G.O.T. (Gateway of Tally)--> Inventory Info--> Stock Item--> Create (Single).

Now do voucher entry as follow:-

Path for voucher creation: - G.O.T. (Gateway of Tally)--> Inventory Voucher--> Press F9 (Purchase Voucher).

Now alter in voucher types:-

Path for alteration in voucher types: - G.O.T. (Gateway of Tally)--> Inventory Info--> Voucher Types--> Alter--> Stock Journal.

And then do stock journal voucher entry:-

Path for voucher creation: - G.O.T. (Gateway of Tally)--> Inventory Voucher--> Press “Alt + F7” (Stock Journal Voucher).

Press F8 to do Sales Voucher entry:-

Path for voucher creation: - G.O.T. (Gateway of Tally)--> Inventory Voucher--> Press F8 (Sales Voucher).

Now you can see the summary of job costing as follow:-

Path for view summary of job costing: - G.O.T. (Gateway of Tally)--> Display--> Statement of Inventory--> Job Work Analysis--> Gorakhpur.

For more details, press “Alt + F1”.