Job costing Under Tally.ERP 9
What is Job Costing?
Is a form of specific order costing which applies to a job undertaken according to customer requirement and specification.With a view to ascertaining the actual costs incurred for each job, each job is assigned a job number or job name.
Job cositng is used to track all the expense and incomes for the job of the project created as a cost centre.It is he combination of cost centre + Inventory godown
Some of the examples of job costing are interior decorating construction architecture printing etc.
Use of Job Costing
- To determine the true cost for each job broken down by locations.
- To determine the revenue and expenditure and therefore the profit associated with each job.
- To track overhead cost by allocating them for each job
- To identify loss on projects at an early stage.
Features of Job costing
- It helps to accumulate cost and revenue for particular job projects.
- It allows tracking transfer of material from one godown to another.