You’re entering all your payables into your accounting software, right? (If not, you should stop reading and get on that.) Did you know the Dynamics GP Job Costing module, and a few simple process changes, you can turn that administrative task into a source of business intelligence that will improve the profitability of all jobs?
First, we need to recognize there are two big problems with NOT putting your job cost information into your accounting software.
- If you are not tracking job costs at all, how do you know if specific jobs are profitable?
- If you are tracking job costs in a spreadsheet, you are doubling efforts and creating opportunities for data entry errors.
How do I track job information?
Dynamics GP integrates tightly with the Wennsoft Job Cost module, which allows you to enter the job number and cost code when entering a payable.
Does that create more work?
Up front your project manager – or whoever sets up your jobs – will assign a job number and as many cost codes as they like to each job. They can even enter estimates so you can later compare with actual costs.
Once that information is set, someone simply needs to let the payables clerk know which job to assign each invoice to. Getting that information to the payables clerk quickly and consistently will probably require a process change, but the potential pain will be worth it.
The reward will be an understanding of which jobs are profitable, where you could cut costs and how to quote more accurately in the future. If you can’t use that information to realize savings or win more business, you’ve got bigger problems than who’s entering your invoices.