These are the general ledger transactions posted by Ostendo for Job transactions.
Transaction | Debit | Credit |
Job Purchases | ||
Purchases Receipts | Inventory (Asset) | Purchases Rec'd not Invoiced (Liability) |
Purchases Receipts | Subcontract Service Cost (COS) | Purchases Rec'd not Invoiced (Liability) |
Purchases Receipts | Non Stock Items (COS) | Purchases Rec'd not Invoiced (Liability) |
Purchases Receipts | Hire Charges (COS) | Purchases Rec'd not Invoiced (Liability) |
Purchases Receipts | Accommodation & Meals (COS) | Purchases Rec'd not Invoiced (Liability) |
Job Cost Issues | ||
Issues to the Job | Job WIP (Asset) Inventory Cost | Inventory (Asset) |
Issues to the Job | Job WIP (Asset) | Consumables Recovery (COS) |
Issues to the Job or Timesheet | Job WIP (Asset) | Overhead Recoveries (COS or Expense) |
Timesheet | Job WIP (Asset) | Labour Recoveries (COS) |
Purchase Receipts Issued to the Job | Job WIP (Asset) Purchase Cost | Inventory (Asset) |
Purchase Receipts Issued to the Job | Job WIP (Asset) | Subcontract Service Cost (COS) |
Purchase Receipts Issued to the Job | Job WIP (Asset) | Non Stock Items (COS) |
Purchase Receipts Issued to the Job | Job WIP (Asset) | Hire Charges (COS) |
Purchase Receipts Issued to the Job | Job WIP (Asset) | Accommodation & Meals (COS) |
Customer Deposit | ||
Customer Deposit Paid | Bank (Asset) | Customer Deposits Unapplied (Liability) |
Job Invoice | ||
Invoice Cost | Cost of Goods Sold (COS) | Job WIP (Asset) |
Invoice Income | Debtors (Asset) | Job Sales (Income) |
Customer Deposit Applied | Customer Deposits Unapplied (Liability) | Debtors (Asset) |
Job WIP Variance | ||
Job Costs after Job Invoiced then Closed | Cost of Goods Sold (COS) | Job WIP (Asset) |
Non Charge Code Issues | ||
Issues to the Job | Non Charge Code (COS) | Inventory (Asset) |
Issues to the Job | Non Charge Code (COS) | Consumables Recovery (COS) |
Issues to the Job | Non Charge Code (COS) | Mileage (COS) |
Timesheet | Non Charge Code (COS) | Labour Recoveries (COS) |
Purchase Receipts Issued to the Job | Non Charge Code (COS) | Subcontract Service Cost (COS) |
Purchase Receipts Issued to the Job | Non Charge Code (COS) | Non Stock Items (COS) |
Purchase Receipts Issued to the Job | Non Charge Code (COS) | Hire Charges (COS) |
Purchase Receipts Issued to the Job | Non Charge Code (COS) | Accommodation & Meals (COS) |
Job Purchases
Purchases to jobs are receipted and at the same time issued to the job. The Inventory or Cost of Sales account is therefore debited by the purchase receipt and then credited by the issue to the job, which cancel each other out. The actual cost of the purchase receipt and job issue is in Job Work in Progress which is debited by the issue to the job.
Job Cost Issues
These are issues of costs to the job which may be from inventory in stock, non stock items or purchase receipts to the job. Non stock items that are issued directly to the job without a purchase receipt should have a corresponding purchase record in the Cost of Sales. For example, Consumable Recoveries issued to the job as a dollar value should be offset by actual purchases of consumable items as non stock items to another account for Consumable Purchases next to it in the Cost of Sales. The actual cost of Job Cost Issue transactions is in Job Work in Progress until it is invoiced.
Job Invoice
When a job is invoiced there are two sets of transactions that affect Income and Cost of Goods Sold. The costs held in Job Work in Progress are credited and Cost of Goods is debited. The income and cost are recognised when the job is invoiced.
Job WIP Variance
If costs are issued to a job after the job is fully invoiced these will accumulate in Job Work in Progress. When the job is Closed these are debited into Cost of Goods Sold. This means that costs are recognised in Cost of Goods Sold even if job costs are entered after the invoice is raised.
Non Charge Codes
Items that are issued to a job with a non charge code are not debited to Job Work in Progress but to the account the non charge code is mapped to. This could be a Cost of Sales Account as in the case with Warranty Costs or Non Charge Labour, or it could be an expense account as in the case with Research and Development.
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