To be profitable, you need to have a good handle on your costs—and that requires efficient and effective job costing.
Job costing consists of tracking and categorizing every cost incurred on a project. It provides you with visibility into your expenses so you can:
• Tighten cost control throughout a project.
• Prevent overruns.
• Build a reliable cost history that can be used to improve estimating.
It’s important that you know where costs stand at any given time for each project. Knowing your true job costs enables you to spot issues and take corrective action before costs eat into your profit margins. It also helps you ensure all costs—including overhead—are allocated to a job so you have the highest potential for overall company profitability.
Here are seven ways you can improve job cost tracking:
- Know your committed costs
- Manage change orders
- Improve labor time tracking
- Keep track of contracts
- Get user-definable alerts and scheduled reports
- See work in progress costs
- Create more accurate estimates
To learn more about the seven ways to improve job cost tracking, reach out to us today. Sage 100 Contractor helps you determine true job costs so you can feel more confident in estimates and win more profitable jobs. As an added bonus, once an estimate is final and the job awarded, you can immediately create a proposal, job budget, purchase orders, and subcontracts directly from the estimate.
