job costing

Business owners and HR/finance professionals in every industry occasionally feel an intuition that inefficiencies in their employee management, time-tracking and project estimates may be leading to losses in company-wide profitability. The issue is that correcting those issues often feels like starting a figurative thousand-piece puzzle.…

Although job costing has recently gained traction as an essential accounting and time-tracking tool used across a variety of industries – ranging from manufacturing, transportation companies, consulting firms, and everything in between – the construction industry has enjoyed the longest “tenure” in the job costing realm, and with good reason. Construction companies deal with variations in …

Job costing and process costing are accounting and time-tracking methods that have traditionally been used in fields like construction and manufacturing to accurately determine the respective costs of materials, overhead, and labor for either discrete jobs/projects or consistent production processes. More recently, job costing has been adopted by a much wider range of businesses, including …

For businesses whose projects regularly fluctuate in scope, timeline, or workforce configuration, job costing is a vital and indispensable tool. In essence, job costing involves the meticulous tracking of revenues and costs related to each specific business project.…

Job Costing – what exactly is this? Job costing is the process of tracking costs and revenue for individual projects. More specifically, it looks at the details of a project, breaks down the costs of labor, materials, and overhead. You most commonly see job costing in manufacturing industries or the construction industry where costs vary from job to job. Job costing can be a helpful tool for …