As part of your month end closing procedures, do you also reconcile your General Ledger (GL) cost of revenues earned accounts (direct costs) to your Job Cost (JC) subledger? There is a canned report within your Sage 300 CRE software (JC>Reports>Cost Control>Category Summary (as of date)), that with a little tweaking, can serve as your balancing tool for years to come.
Here are the steps to set this up:
Please note. This item displays only if you selected a Retrieval method of Use hierarchy or By category in the JC Settings window.
2. Using Report Designer (RD), locate and open the report JC Category Summary as of Specific Date.rpt. The default location for reports that come with the software is: /SAGE/TIMBERLINE OFFICE/9.5/ACCOUNTING/REPORT.
3. Before you do anything else, in the Menu bar click on File>Save Design As, and give your file a different name (perhaps placing your initials in from of the default name). YOU DO NOT WANT TO CHANGE THE ORIGINAL REPORT IN ANY WAY, so it remains available for a do-over, or use as is should something go wrong with your editing.
4. When you click on any of the fields to the right of “Description”, you will notice that these are formulae. In the Menu bar, click on Tools>Formula to see its coding.
5. Click on the Change button to access the coding box.
As you can see, the area highlighted in RED is the variable. So all you have to do to modify this report to account for ALL of your standard categories is to open each of the formulae under each of the headings in the report design and edit the category ID. Please note that each of the column headings on the report represent each of the 6 cost types that are available for use in JC, and you may have more than one standard category associated with a cost type (for example, “L” for labor and “LB” for labor burden are both accumulated as LABOR cost types). In these instances, just copy the formula, insert the category ID that you need and connect them with an “OR”, as per this example:6. Load this report in your JC module using Reports>Reports Manager. Another feature about this report is that it has a date cut-offs (because of the report design’s use of the JC Transaction file). So this report can be run between whichever you dates you choose (by month; year-to-date). Run the report for the desired period and compare each column total to the GL account connected to the applicable JC cost type. In the sample data folder that I used to write this article, the MATERIAL column total agrees with GL account 5003 – Cost of Sales Materials for both the month selected and the year to date total for Materials.
Should you need any further assistance balancing your job’s costs, please call your United Solutions, Inc. consultant.
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