Job Costing in Tally.ERP9

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Job Costing in Tally.ERP 9 : 

Job Costing in Tally.ERP 9

Job Costing : 

Job Costing Job costing is a form of costing, which applies to a job undertaken according to customer requirements and specifications. Each job is assigned a job number or Job name to ascertaining the actual costs incurred for each job. Job costing systems accumulate costs separately for each product or service, based on the jobs undertaken. Examples of Job Costing are Interior Decoratoration, Construction, Architecture, Printing etc.,

Benefits of Job Costing : 

Benefits 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 costs by allocating them for each job. To identify profitability of projects at an early stage.

Benefits of Job Costing : 

Benefits of Job Costing Tally.ERP 9 enables the tracking of cost and revenue information down to the smallest detail. Each project or job is created as a Cost Centre to track all the incomes and expenses for a project. The Cost Centres and Inventory Options are integrated in Tally.ERP 9 to enable Job Costing

Features of Job Costing : 

Features of Job Costing It helps in accumulating Cost and Revenue for a particular Job / Project. It allows tracking transfers of materials from one godown to another. It allows tracking of consumption of materials at different locations. It ascertains profitability i.e., Net Profit / Loss for a particular Job / Project.

Features of Job Costing : 

It provides summary of inventory movements (Opening, Inwards, Outwards , Transfer, Consumption etc.) Allows comparison of each element of cost, selling price and profit with other jobs in single screen. Allows drill down till voucher level for any kind of alteration or reference. Features of Job Costing

Enabling Job Costing : 

Enabling Job Costing

Creation of Masters for Job Costing : 

Creation of Masters for Job Costing 1. Creation of Cost Centres. 2. Creation of Godowns (dedicated to specific jobs). 3. Creation of Stock Items 4. Creation of Customer and Supplier ledgers 5. Creation of Sales and Purchase ledger accounts 6. Creation of Expenses and Income Accounts Creation of Stock Journal - Transfer Voucher class 8. Creation of Stock Journal - Consumption Voucher class

Creation of Masters for Job Costing : 

Creation of Masters for Job Costing 1. Creation of Cost Centres.

Creating Cost Centres : 

Creating Cost Centres Gateway of Tally > Accounts Info > Cost Centres > Create

Creation of Masters for Job Costing : 

Creation of Masters for Job Costing 1. Creation of Cost Centres. 2. Creation of Godowns (dedicated to specific jobs).

Creating Godowns : 

Creating Godowns Godowns are created for each Project. Godown is taken into account for all the materials issued or received for that particular Project .

Creating Godowns : 

Creating Godowns Gateway of Tally> Inventory Info > Godowns > Create

Creation of Masters for Job Costing : 

Creation of Masters for Job Costing 1. Creation of Cost Centres. 2. Creation of Godowns (dedicated to specific jobs). 3. Creation of Stock Items

Creation of Masters for Job Costing : 

Creation of Masters for Job Costing 1. Creation of Cost Centres. 2. Creation of Godowns (dedicated to specific jobs). 3. Creation of Stock Items 4. Creation of Customer and Supplier ledgers

Creating Ledgers : 

Creating Ledgers Creating Ledgers for Job Costing is similar to that of other Ledgers.

Creating Party Ledgers : 

Creating Party Ledgers Create party accounts for Customers under Sundry Debtors. Create Suppliers under Sundry Creditors.

Creating Sales and Purchases Ledgers : 

Creating Sales and Purchases Ledgers Create Sales Ledgers under Sales Accounts Create Purchase Ledgers under Purchase Accounts. Ensure that the field Cost Centres are applicable? is Yes for the Ledgers that are to be included in Job Costing.

Creating Income and Expenses Ledgers : 

Creating Income and Expenses Ledgers Create Income Ledgers such as Project Inspection Charges etc. under Direct Income. Create Expense ledgers such as Transportation Charges, Project Site Rent under Direct Expenses. Staff Welfare, Telephone Charges etc. can be under Indirect Expenses as required by your project. Ensure that the field ‘Cost Centres are applicable? is Yes’ for all the Ledger Accounts you want to include in Job Costing.

Creating Stock Journal Voucher class : 

Creating Stock Journal Voucher class Stock Journal classes allow you to handle transfers from one location (Godown) to another location. It also allows you to track transfer of materials for consumption.

Slide 23: 

Gateway of Tally > Accounting Info or Inventory Info > Voucher Types > Alter > Stock Journal > under ‘Name of Class’ give the name as ‘Transfer’: Creating Stock Journal – Transfer Voucher class

Slide 24: 

Gateway of Tally > Accounting Info or Inventory Info > Voucher Types > Alter > Stock Journal > under ‘Name of Class’ give the name as ‘Consumption’. Creating Stock Journal – Consumption Voucher class

Creating Purchase Vouchers : 

Creating Purchase Vouchers To allocate the Cost Centers, enter purchase in Voucher mode (as the Cost Allocation sub-screen does not appear in the Invoice mode)

. : 

.

Inter Project Transfer Entry : 

Inter Project Transfer Entry Gateway of Tally > Inventory Vouchers > press Alt+F7 > Stock Journal with Transfer Class

Inter Project Transfer Entry : 

Inter Project Transfer Entry

Consumption Entry : 

Consumption Entry Gateway of Tally > Inventory info > Alt+F7 > Consumption under Class.

Consumption Entry : 

Consumption Entry Consumption Amount will be shown under ‘consumption’ column in the Job Work Analysis Report.

Other Transfers : 

Other Transfers When materials are transferred from one godown to another without selecting ‘Transfer’ \ ‘Consumption’ voucher class it will be taken under ‘Other Transfers’ in the Job Work Analysis report.

Other Transfers : 

Other Transfers

Creating Manufacturing Journal : 

Creating Manufacturing Journal Job Work Analysis report will also take into consideration, a product produced by passing Manufacturing Journal voucher.

Creating Manufacturing Journal : 

Creating Manufacturing Journal Gateway of Tally > Accounts Info or Inventory Info > Voucher Types > Create

Creating Bill of Materials : 

Creating Bill of Materials

Creating Bill of Materials : 

Creating Bill of Materials

Passing Manufacturing Journal : 

Passing Manufacturing Journal

Creating Journal Vouchers : 

Creating Journal Vouchers

Creating Payment Vouchers : 

Creating Payment Vouchers

Creating Sales Voucher : 

Creating Sales Voucher

Job Costing Reports : 

Job Costing Reports Job costing report : Enables the user to know the Net Profit/Loss for the selected job.

Types of Job Costing Reports : 

Types of Job Costing Reports 1) Job Work Analysis 2) Material Consumption Summary 3) Comparative Job Work Analysis report

Job Work Analysis Report : 

Job Work Analysis Report Gateway of Tally > Display > Statement of Inventory > Job Work Analysis

Job Work Analysis Report : 

Job Work Analysis Report

Job Work Analysis Report - Detailed view: : 

Job Work Analysis Report - Detailed view:

Job Work Analysis Report - Detailed view: with Percentage : 

Job Work Analysis Report - Detailed view: with Percentage

Materials Consumption Summary Report : 

Materials Consumption Summary Report

Materials Consumption Summary Report : 

Materials Consumption Summary Report

Materials Consumption Summary Report : 

Materials Consumption Summary Report

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Purchase: The value of the materials which are purchased for the project is displayed here.

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Manufacturing Journal: The value of the materials which are produced by passing Manufacturing Journal voucher tagging to the appropriate godown, is displayed here under Inwards.

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Inter Project Transfer: The value of the transfer entry which is made by using ‘Class’ created for ‘Stock Journal’ and tagging to the appropriate godown is displayed here.

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Other Transfers: Transfer of materials which are done by NOT using the ‘Transfer Class’ created for Stock Journal would appear here.

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Cost of Sales: The Value of Cost of Sales will be displayed here. Cost of Sales is nothing but Number of quantities (Sold) x Cost of Purchase.

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Job Consumption: The value of the entries which are made using ‘Consumption Class’ create for Stock Journal is displayed here.

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Manufacturing Journal: The value of the materials which are used\ consumed for a Job/Project in the manufacturing journal voucher entry is displayed here.

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Inter Project Transfer: The value of the transfer entry which is made by using ‘Class’ created for ‘Stock Journal’

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Other Transfers: Transfer of materials which are done by NOT using the ‘Transfer Class’ created for Stock Journal would appear here

Materials Consumption Summary Report : 

Materials Consumption Summary Report Further drill down from Material Consumption Summary to Material Consumption Stock Summary, would enable the user to view the Stock Group: Closing Value: Closing value of an item will be determined based on costing method. Closing value = Opening Value + Inwards – Consumption – Other Transfers

Drill down further to display the Godown Voucher screens. : 

Drill down further to display the Godown Voucher screens.

Slide 66: 

Plz forward your queries \ feedback to info@baseenterprise.com

Slide 67: 

Thank you…