Solution Properties
Solution ID:
222924550020130
Last Modified Date:
Fri Jun 28 16:28:40 UTC 2024
Taxonomy Path:
Category//Transactions
Author:
sageadmin
Enter direct costs in Job Cost and how it affects General Ledger
Description

Cause
Resolution
Important information

Important information

General

Enter Direct Costs doesn’t interface with Cash Management.

If you move costs between jobs, you don't need to enter a credit account. Don't change the debit account that prefills on both lines. Enter a negative amount to the reduced job and a positive amount to the increased job. This sends a positive debit and negative debit to General Ledger.

If you interface with General Ledger, the debit and credit totals must equal unless you turn off Force Zero Proof. The setting is in General Ledger, File, Company Settings, GL Settings.

You can make beginning balance adjustments in Job Cost without affecting General Ledger. To do this, enter the same account for both the debit and the credit accounts. This will adjust the costs in Job Cost, but send a washing entry to General Ledger.

GL Only entries are for non-job-related entries or to break down a job-related cost into multiple credit accounts. Example: You need to credit multiple tax accounts for a labor cost, but only debit the job-related cost account.

If you’re using Enter Direct Costs to decrease a Work-in-Progress (WIP) asset account balance:

  • Enter a negative in the Amount column
  • Enter the asset account number in the Debit Account field

 

Entering direct costs and how they affect Job Cost

The Extra column displays only if you’re tracking extras and have already entered a job that has at least one extra attached. If the column displays but the entered job has no extras, it bypasses the column. You can change this column's title in the Custom Descriptions window.

When you enter a Standard Item for the current line, the Unit Cost or Amount, and Description prefill from the Standard Item setup in Billing.

If you use group cost codes (for example 03-000), you can only enter direct costs to the individual cost codes within a group. When you post the entries, the group cost code totals update.

If you enter a positive in the Amount field:

  • Increases the costs on the job, regardless of which accounts are used

If you enter a negative in the Amount field:

  • Decreases the costs on the job, regardless of which accounts are used

Entering reversing costs:

When you enter reversing costs in Direct Cost, use the opposite sign on the Amount field. Use the original debit and credit accounts for the entry.

Example:
Original Entry: $500, Debit Acct 100, Credit Acct 200
Reversing Entry: -$500, Debit Acct 100, Credit Acct 200

 

Entering direct costs and how they affect General Ledger

See more information about how debits and credits appear on different General Ledger reports and inquiries.

If you enter a positive in the Amount field:

  • Increases the GL Debit account
  • Decreases the GL Credit account

If you enter a negative in the Amount field:

  • Decreases the GL Debit account and posts as a negative debit
  • Increases the GL Credit account and posts as a negative credit

 

Enter job-related costs

Enter job-related costs

  1. In Job Cost select Tasks, Enter Direct Costs.
  2. Enter the information in the entry grid. The required fields are:
    • Job
    • Extra (if used)
    • Cost Code
    • Category (if used)
    • Amount
    • Transaction Date
    • Accounting Date
    • Debit Account
    • Credit Account
  3. Complete the line. Click Save Line.
  4. Repeat steps 2 and 3 for each additional line of entry.
  5. Click Totals to review the total amounts.
  6. Click Finish and Start.
  7. Review the Direct Costs Journal to verify totals and check for errors.

 

Enter non-job-related costs

Enter non-job-related costs

  1. In Job Cost select Tasks, Enter Direct Costs.
  2. Click GL Only. This allows you to enter non-job-related entries in Job Cost and send them to General Ledger.
  3. Enter the information into the grid. The required fields are Amount, Transaction Date, Accounting Date, Debit, and Credit Accounts.
  4. Complete the line. Click Save Line.
  5. Repeat steps 2 and 3 for each additional line of entry.
  6. Click Totals to review the total amounts.
  7. Click Finish and Start.
  8. Review the Direct Costs Journal to verify totals and check for errors.

 



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