· The Close Date of this job is posted and commissions are posted.
· If job costing is back dated to reflect the actual close date of the job, make sure to also run the delivery ticket for that same date or earlier.
· The Transaction Date cannot be before the Delivery Ticket Date, the Latest Installation Date for Providers associated with Order, or any materials invoice date.
· There are no entries into the journal.
· There are only adjusting entries made into the journal (if needed).For instance, if a vendor invoice has not been posted at the time of Booking the Sale and costs were different (higher or lower) they will be reflected at in the final Job Cost report.
· Commissions are calculated at this point in time (although no journal entries are made) and it is important that all invoices have been processed or inventory has been costed to ensure final costs are reflected.
· Commissions are posted to the commission report and are not included in the journal postings at the time of Job Cost. RFMS follows the same rules and procedures as previous for commission calculation and posting.
· Keep in mind that Un-Costed inventory cannot be job costed.
· Booking and job cost dates cannot be earlier than the delivery ticket date.
· Note when jobcosting a percentage order in percentage partial billing only these entries are made. The balance of the entries are made when the full order is jobcosted.
o Debit AR
o Debit and Credit AR unbilled
o Credit Sales
Comments
Article is closed for comments.