Job Cost Month-End Processing
Confirm the Processing Date is set for the month you are closing.
Month-end date: __________________________
Transaction cut-off date: ____________________
Responsible person: _______________________
Date reconciled: __________________________
Confirm the following processes are completed:
- Complete closing procedures for Accounts Payable, Accounts Receivable, and Payroll.
– Confirm all Job Cost Transactions have been updated.
- Click Update Job and preview report. Make sure this is blank, meaning all items have been updated for the month.
- Click Update G/L and preview report. Make sure this is blank, meaning all items have been updated for the month.
(Build/Update projected costs for all open jobs)
- Click on the Build button. Enter first job number. Ensure that Through Period End Date is correct.
- Review the Cost-to-Complete column. Change the Cost-to-Complete as needed (which changes the % to complete).
- Update projected costs to the job projected cost history. New Projections are then used in reporting.
- Repeat process for each job.Important: Confirm all projections are complete by going to , clicking the Build button and then click on the Batch code list box. If projections are built and processing dates are closed; projections can still be updated. The processing dates only prevent projections from being built for a closed periods!
– Print the JC Type Summary Report to obtain balances for each job
cost type in Job Cost.
- Enter the appropriate period end date.
- Print in summary and Year to date.
– Print the Trial Balance for all Direct Cost accounts.
- Select the applicable fiscal year and fiscal period.
- Select .
Verify balance in JC and GL
JC – Cost Type 1: ____________________ GL – Labor : _________________________
JC – Cost Type 2: ____________________ GL – Materials: _______________________
JC – Cost Type 3: ____________________ GL - Subcontract: _____________________
JC – Cost Type 4: ____________________ GL – Equip Internal: ___________________
JC – Cost Type 5: ____________________ GL – Equip Rented: ___________________
JC – Cost Type 6: ____________________ GL – Other Costs: ____________________
Year End Accounting Reports to Print and Retain
- Billing History - Print the Billing History report for the current month for all project billings by division.
- Contract Status Report - These reports are used monthly to reconcile and report current contract values, percent complete, billed to date and earned revenue.
Change Processing Dates
- - Change the processing dates to reflect the new period.