Job costing an invoice in RFMS non-ERRM accounting refers to posting all charges to related files. This function is the same as what is commonly referred to as "billing" or producing an "invoice." It is at this time that an order becomes shipped in the system. It will receive a delivery date and invoice date. Also, any unpaid balance becomes an Accounts Receivable.
An order should be job costed after it has been physically completed. If the installers turn in their tickets daily, those costs can be posted to the invoice at the time of job costing the corresponding order. Once an order has been job costed, it becomes an Accounts Receivable.
The postings to the general ledger are as follows for non-ERRM:
Credit to Sales account
Debit to Accounts Receivable
Credit to Inventory (Asset account)
Debit to Cost of Materials
Labor charges, freight, and overhead are not posted to the general ledger through job costing.
Other postings include:
Salesperson Commission File
Sales and Use Tax Reports
Inventory Records are updated with a status of Used at the time the inventory was put in a cut status.
Once an order has been job costed, it cannot be edited without un-job costing because of all the above postings.
• A job which has been job costed in a closed month cannot be un-job costed.
• Use tax can be calculated using either net cost or gross cost. For consistency, all areas for reporting and viewing job cost information in RFMS now use gross cost. A choice is offered though for the actual calculations for tax reporting from the Accounting module.
Field Explanations for Confirm Job Cost screen
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