If you are using the Purchase Order, Subcontract Ledger, and/or Inventory modules, your Job Cost files can keep track of committed costs posted in those modules.
Each of these can update costs in many Job Cost companies. There are two types of committed costs tracked in Job Cost.
Total Committed — Whenever you create a purchase order, subcontract, or material order for a job, the amount is posted to the job in Job Cost as total committed cost. This amount represents your total buyout on each phase of the job.
Remaining Committed — All the programs that add to total committed also add to remaining committed. In addition, remaining committed costs are reduced as they become actual costs, either by posting invoices against purchase orders and subcontracts in Accounts Payable, or by confirming material orders in Inventory. Remaining committed costs are also revised when backorders are changed in Purchase Order Entry or Purchase Order Receipts Entry, and when purchase orders and material orders are closed, if any remaining costs had existed.