This Help File Page was last Modified on 06/01/2019
❑Using the Inventory Tracking & Job Costing module
2.Your Company sends Technicians out to Install or fix things,
3.All of this is done with the hope that your Company will end up making a Profit when the Technicians are finished performing those tasks.
•In the course of this process:
b)General bookkeeping procedures do not provide enough detail to effectively track these expenditures (especially those expenditures that are associated with specific Work Orders and individual Jobs).
c)The Inventory Tracking & Job Costing System is designed to provide a consistent methodology for tracking this information, and to accurately report the results - regardless of whether they are good, or bad.
•To fully benefit from this Inventory Tracking and Job Costing System:
a)Your Company should be using the Accounts Receivable and Accounts Payable modules, and ideally, the Service Tracking System (by doing so: Job Tasks, Inventory Usage, and Labor costs can be linked to specific Work Orders, and the Labor and Inventory & Material expenses from those Work Orders can be linked, when appropriate, back to specific Jobs).
b)The recommended Inventory Valuation method is Last In/First Out ("LIFO") which provides an accurate accounting of Inventory related Expenses (see the Inventory Valuation Methods and Understanding how Inventory Values & Counts are Calculated chapters for more information).
•To start implementing the Inventory Tracking & Job Costing module:
b)Print the Inventory Worksheet report to get an Inventory List that may then be used to more easily conduct an Inventory Count.
c)Count the "in-stock" Inventory Items to quantify what's On Hand
❑Inventory Tracking - Understanding the process of Buying, Installing and/or Selling Inventory - An Overview:
•In the Accounts Payable System:
•In the Accounts Receivable System:
c)Proposals (with itemized Inventory Items) may be Converted to Jobs, Installation Orders (Work Orders) or Invoices.
a)There are several Inventory Valuation Methodology available (Price In, Last In/First Out, Average Inventory Cost) but the recommended Inventory Valuation method is Last In/First Out ("LIFO") when using the Inventory Tracking System along with the General Ledger System.
g)The end result is that Inventory Counts are automatically maintained internally be Inventory Tracking & Job Costing System.
❖If you are using the General Ledger System, also see the Understanding how Inventory Values & Counts are Calculated chapter for more information about the relationship between Inventory and your Company's General Ledger System.
❖There are several Inventory Valuation Methodology available (Price In, Last In/First Out, Average Inventory Cost) when using the Inventory Tracking System with the LIFO (Last In/First Out) method recommended when also using the General Ledger System.
❑The Inventory Tracking and Job Costing System is driven by the Job Costing Form.
Job Costing Form
❑The Ribbon Menu on the Job Costing Form provides the following functionality:
•Move from Job to Job (record)
•Add (or Delete) a Job.
•Add electronic Documents to a specific Job's file.
•Assign a Job Manager and a Start Date for a specific Job.
•Define the required Job Tasks
•Search for an existing Job.
•Print a Job Work Sheet.
❑There are a variety of useful Inventory Tracking and Job Costing System Reports to help your Company track installation costs, inventory usage and reordering requirements, and integrate these functions with the Accounts Payable and Accounts Receivable modules, as well as the Service Tracking System.
•The Job Costing Version 2.0 related Reports are:
1.Job Listing - Provides a complete List of all Jobs.
3.Job Aging As Of - Provides a listing in a Grid format of the Balances still owed on Job Costing records, based on a User specified As Of Date, and may be Printed as a report, and/or Exported to an Excel style Spreadsheet.
4.Job Profit Summary - Configurable in many ways, but basically provides a Profit Report for Jobs.
5.Job Tasks Aging As Of - Provides an Open Job Task listing (an Open Job Task does not have a Completed date entered) in a Grid format with (among much other data) the Age (in Days) of those Job Tasks, based on the number of Days between the Estimated Completion Date (entered on the Job Task line item) and a User specified As Of Date, and may be Printed as a report, and/or Exported to an Excel style Spreadsheet.
6.Job Work Sheets - Provides a detailed Work Sheet for the specified Jobs.
7.Job Work Sheets (New Grid) - Provides a listing in a Grid format of the Job Costing records based on a User specified status of the Start and End Date fields, and may be Printed as a report, and/or Exported to an Excel style Spreadsheet.
8.Reserved Inventory - Provides a list of all reserved Inventory for a specified (or All) Jobs.
9.Work In Progress - Provides a list of all Work In Progress.
➢Note: For Job Costing Version 1 Users, most reports have been phased out in Stark Version 35.
•The Inventory Tracking related Reports are:
1.Inventory Adjustments - Lists all of the Adjustments made to Inventory Counts with the dates specified.
2.Inventory Kits - Lists all of the user-defined Inventory Kits including all of their Component Parts.
3.Inventory Listing - A complete list of your Inventory Items.
5.Inventory Purchased/Pending - A list of all Inventory items purchased within the Dates specified.
6.Inventory Reorder - A list of all Inventory Items that must be re-ordered because of insufficient Quantity On Hand Levels.
7.Inventory Reorder - Kits - A list of all Kits and the Inventory Items that must be re-ordered because of insufficient Quantity On Hand Levels.
8.Inventory Transfer - Lists the details of those Inventory Items which have been Transferred from one Warehouse to another, within a Date Range specified by the User, with this data presented as a Grid
9.Inventory Worksheet - Provides an Inventory Worksheet listing to facilitate a manual inventory count.
11.Inventory WIP - Lists all Inventory Items' Counts that were transferred to Work In Progress via a Job or Work Order entry, executed within the Date Range specified, and subject to certain filtering and selection options.
13.Inventory Replacement Value - Lists those Sale-Purchase Items identified as Inventory Items with the associated On Hand quantities, Warehouse, replacement Cost, and Total (current) Value - presented as a Grid
•Go to the Inventory Tracking and Job Costing System Setup Procedures chapter.
✓Complete those Setup Tasks as instructed.