Job Costing
Job Costing
Job costing is a form of specific order costing, which applies to a job undertaken according to customer requirements and specifications. In Tally, you can track the cost and revenue information like material, labour, and overhead for a specific job, even to the smallest detail. With a view to ascertain the actual costs incurred for each job, each job is assigned a job number or a job name.
With Job Costing, you can do the following:
- Determine the actual cost for each job, location-wise.
- Determine the revenue and expenditure, and therefore the profit associated with each job.
- Track overhead costs by allocating them for each job.
- Identify the losses on projects at an early stage.
Job Costing – An Overview
You can create multiple jobs or projects as cost centres, and track the cost and revenue associated with each project. You can also allocate costs while the job is in progress. On completion, you can compare the selling price and profit with estimates, and make informed decisions based on the profitability of each job or project.
The following capabilities make job costing in TallyPrime simple and effective:
- Track the transfer of materials from one Location to another.
- Track the consumption of materials at different locations.
- Ascertain profitability – Net Profit/loss for a particular job/project.
- View the summary of inventory movements (Opening, Inwards, Outwards, Transfer,
- Consumption etc.)
- Compare each element of cost, selling price and profit with other jobs on a single screen.
- Drill down to the voucher level for reference or alter transactions.
In This Section:
- Job Costing – An Overview
- Enable Job Costing in TallyPrime
- Enable Cost Centres for Job Costing
- Enable Godowns for Job Costing in TallyPrime
- Use Stock Journal Voucher Class for Job Costing in TallyPrime
- Allocate Costs to Projects Using Journal Vouchers
- Allocate Costs to Projects Using Payment Vouchers
- Allocate Costs to Projects Using Sales Vouchers
- Record Inter-Project Transfers