Cost Code
Enter the cost code representing the cost category you want to add or maintain, using the format established in Job Cost Options, or click the Lookup button to list all cost codes.
Description
Type the description for the cost code.
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1. Main
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Active
Select this check box to activate the cost type for the current cost code. Clear this check box if you do not want to activate the cost type. The fields associated with the cost type are available only if the Active check box is selected.
Depending on how your business operates, you may have certain types of cost codes with costs confined primarily to one area, such as Labor or Subcontract costs. This field allows you to specify which types of costs can be associated with a particular cost code.
U/M
Type the unit of measure to be used to track units (quantities) completed for the cost type. If no unit of measure is specified for the cost type, you must manually calculate and enter the total cost for jobs and estimates.
Example
If you enter HOUR as the unit of measure for labor, followed by the standard hourly labor cost for the cost type in the Unit Cost field, when you enter estimates or post costs, the unit cost will be multiplied automatically by the number of hours specified.
Bill Method
Time and Material jobs can be billed based on the bill method and rates specified for each cost code and cost type. Select one of the following bill methods for billing costs with this cost type to the job.
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Select Non-billable to track costs but not perform billing for the cost type.
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Select % markup for the billing amount to be the original cost plus a percentage markup. This option is based on the entry in the Unit Cost field.
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Select Unit price for the billing amount to be the unit price multiplied by the total units (quantity). This option is based on the entry in the Bill Rate field and is available only if you entered a unit of measure for the cost type.
Completion Method
Select one of the following completion methods to be used for calculating the percentage of completion for the cost type. This field allows for comparisons between the estimated cost and the cost to date.
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Select Cost to base the percentage of completion on job-to-date cost divided by the estimated cost.
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Select Units to base the percentage of completion on job-to-date units (quantity) divided by the estimated units. This option allows for comparisons between estimated total units and units completed, and is available only if you entered a unit of measure for the cost type; otherwise, this field defaults to Cost.
Unit Cost
Type the standard unit cost associated with the unit of measure specified for the cost type. This field applies to Time and Material jobs and is used as a basis to calculate percentage markup for Time and Material billings.
Bill Rate
Type the bill rate. The bill rate depends on the bill method selected for the cost type. If % markup is selected at the Bill Method field, enter the percentage that you will mark up your cost. If Unit price is selected in the Bill Method field, enter the actual dollar price per unit. This field applies to Time and Material jobs, and determines the amount billed for each cost code and cost type. This field is available only if % markup or Unit price is selected in the Bill Method field.
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2. Expense Accounts
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G/L Expense Account
Enter the general ledger expense account number to post Accounts Payable and Job Posting entries to the job, or click the Lookup button to list all general ledger accounts.
If the account number is longer than the field, use the left and right arrow keys to view the entire account number.
Accounts can be created in this field if the appropriate settings are defined in the Auto Create when all Segments are Valid field in the General Ledger Options window. For more information, see General Ledger Options.
Entry Sample
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451-00-00 Labor
453-00-00 Material
454-00-00 Subcontract
456-00-00 Overhead
455-00-00 Burden
452-00-00 Equipment
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Cost Code Maintenance
