The meaning of Adjustment Amount and Gross Cost in the Job Cost Analysis Report can be confusing, so today I want to share with you the meaning of each and how they can help you.
Sales Reports>Profitability>Job Cost Analysis
- Put in Begin and End Date.
- Select Detail.
- Select Extended.
- Select Both.
When you choose to do both, it will first show you the Job Cost Analysis Report, select the x in upper left corner, then it will display the Job Cost Analysis Inventory Adjustments Report
Adjustment Amount
The Adjustment Amount column shows any inventory adjustments made for time frame selected.
You can also get that information from Inventory>Reports>Inventory Adjustments. Enter the same dates to get the same results.
The reason the adjustments are in Job Cost Analysis is because if when running a Journal Close and you select to post inventory adjustments, it does the same thing job costing does. It credits inventory and debits cost of material.
The Adjustment Amount is not applied to the job; however, it does create a Journal Entry if that is selected. It then will hit both Inventory and Cost of Materials General Ledger accounts.
Gross Cost
The Gross Cost column is the cost of inventory applied to the job.
It credits inventory and debits cost of materials for your financials.
Correct, the adjustment amount isn't applied to the job, however, it does create a journal entry if you choose to do so. Hitting both inventory and cost of materials gl accounts.
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