Job costing and budgets
The more complex your job costing is, the more you need detailed job cost reporting. In FOUNDATION, job budgets are easy to revise, and they enable you to track the difference between your estimated and actual expenses and income, even as your job is progressing. Your job costing will be accurate, and you’ll always know where your jobs stand.
You have the option of creating a unique budget for each job you enter into FOUNDATION, as well as being able to import budgets using our convenient BudgetGenie. You can input estimate information for revenue, costs, labor hours and quantities, all within your custom job cost structure.
Additionally, choose which cost codes are available to the job with an easy-to-use drag-and-drop feature, helping prevent invoicing errors later.
See Costs Ahead of Time
Tracking current costs is only half of the job costing equation; you also need accurate forecasting so you can anticipate future costs.
FOUNDATION’s Job Costing Module includes projected-cost reports so your company will be able to make informed decisions about future costs and take action before they get out of hand.
Get Automatic Alerts
Want to keep a close eye on your costs? Set automatic alerts to email you a report whenever your jobs approach a cost or labor overrun. Simply choose custom conditions, like the percent or dollar amount away from your budgeted number — even which change order types to account for.
Drill Down from Reports to See More Detail
Sometimes you need a high-level overview; other times you need to dig down a little deeper into the detail. This is why many of FOUNDATION’s job costing reports are built with ‘drill-down’ capabilities. You can click through to job, cost code and transaction-level detail without leaving the report window. You can also add custom drill-downs to reports using our DataGenie report designer. With customer drill-downs, you will always be able to see the detail that you need to see.
FOUNDATION comes with predefined job costing reports that get you the information you need, as well as our acclaimed DataGenie™, which provides you with the tools and flexibility to create any number of your own custom reports.
FOUNDATION reports can be run by job, job status, phase, cost code, cost class, project manager, customer, geographic area, project class and even more, giving you the ability to create User Defined Sorts to make the possibilities truly limitless. Additionally, you can run reports for any date range, any length of time, in the past, present, or future.
If you need a report specific to your company, or just want to tweak a predefined report to be more to your liking, FOUNDATION’s easy-to-use DataGenie allows you create an endless variety of reports, letting you be sure that the information you need to see is presented the way you want it. The DataGenie uses an easy drag-and-drop interface, so you don’t need any programming knowledge to successfully create the reports you need!
With the DataGenie you can create Job Cost Activity Reports, Transaction Reports and more. Job Cost Activity Reports show a summary of job activity, while Transaction Reports present transaction-level detail for what’s been posted to your jobs.
How do you like your production reporting? Do you prefer to see quantity produced per labor hour, labor hours per unit, or maybe the ratio of labor hours by cost classification as a percent of job total? Whatever your preference, FOUNDATION’s reports can display the production formula most meaningful to you, allowing you to decide how to evaluate jobs effectively.
For your construction projects, getting and staying bonded is a must. To stay bonded you need to provide complex reporting that meets your bonding company’s or surety’s requirements. This becomes easy when you use our Over/Under Billing Report, designed with input from both a leading construction CPA firm and several bonding and surety companies. This report compares your job’s percentage of completion to the amount billed to date so you can determine whether you’re on track with accurate detail of your profit or loss.
When you need to post adjustments to your General Ledger, FOUNDATION lets you do this directly from the Over/Under Billing Report, while preventing you from making repeat adjustments.
Estimated vs. Actual Cost Reporting
FOUNDATION’s Job Costing Module offers the tools you need to record estimates and track actual costs extensively. Both the predefined and custom reports can use that information to compare estimated vs. actual costs, and you can see cost breakdowns in summary or detail formats. The reports are date sensitive, so you can get up-to-date information on your jobs.
With the General Ledger’s Overhead Allocation Report, you can preview how indirect expenses will be distributed across your jobs, even how each overhead allocation will affect profit percentages and net income. Then, once you’re ready, you can post allocation right from the report screen.
Quantity and Labor Hours Tracking
FOUNDATION provides a comprehensive and flexible framework for tracking all expenses and associated quantities. Direct burden, such as employer FICA expense, union fringes, workers’ compensation and liability insurance are allocated automatically.
Unit Cost vs. Lump Sum
In FOUNDATION, you can alternately track costs by lump sum amounts or per-unit costs. When viewing variances and cost over/under runs, lump sum costs and per-unit costs will be computed independently. This element simplifies your evaluation of job progress and profitability in instances where you are paid for a job on both a lump-sum and a unit-cost basis.
On a job site, things can change quickly. When this occurs, FOUNDATION’s change order management can help your office stay ahead of the curve.
- Easily enter change orders and update contract and budget detail.
- Improve cash flow by processing change orders faster.
- Create professional, custom change-order designs with our Job Cost ChangeOrderGenie.
- Convert RFCs from FOUNDATION’s Project Management Module into change orders, and update your job budget instantly.