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1.     Meaning - JOB Costing in Tally.ERP9

Job costing is a form of specific order costing, which applies to a job undertaken according to customer requirements and specifications. Tally.ERP 9 enables the tracking of cost and revenue information down to the smallest detail. With a view to ascertaining the actual costs incurred for each job, each job is assigned a job number or Job name. Job costing systems then accumulate costs separately for each product or service, based on the jobs undertaken, for each product or service.

Some of the examples of Job Costing are Interior Decoratoration, Construction, Architecture, Printing etc.,

 

Use 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 loss on projects at an early stage

  Features of Job Costing in Tally.ERP 9

Job costing is a form of specific order costing, which applies to a job undertaken according to customer requirements and specifications. Tally.ERP 9 enables the tracking of cost and revenue information down to the smallest detail. With a view to ascertaining the actual costs incurred for each job, each job is assigned a job number or Job name. Job costing systems then accumulate costs separately for each product or service, based on the jobs undertaken, for each product or service.

Some of the examples of Job Costing are Interior Decoratoration, Construction, Architecture, Printing etc.,

Use 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 loss on projects at an early stage

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.

·         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

 
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