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Question Base [F.A.Q.]- 'JOB Costing' @ Tally.ERP 9

1. Basics, Configuration & Seupt of JOB Costing

Basics :

Job Costing applies to specific jobs undertaken according to customer requirements and specifi- cations. Tally.ERP 9 enables the tracking of cost and revenue information down to the smallest detail.

 

In order to determine the actual costs incurred, every job is assigned a job number or a job name. Job costing systems determine the costs separately for each product or service, based on the jobs undertaken.

 

In a typical job costing environment:

 

       Many non-standard (customised) products/ service are produced/ rendered.

       Orders are executed based on customer requirements.

       Cost records are maintained for each distinct job.

       Costs are traced or allocated to jobs.

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2. Enabling JOB Costing

In the F11: Features (Accounting Features),

 

        Set Maintain Cost Centres to Yes.

        Set Use Cost Centre for Job Costing to Yes.

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3. Creating Jobs as Job Cost Centers

Each job is identified with a name or number and this is used while creating the cost centre for the job. Create Upgrading Job as a Job Cost Centre under Primary.

 

Go to Gateway of Tally > Accounts Info. > Cost Centres > Single Cost Centre > Create

 

1. Name: Upgrading Job

2. (alias): Skip field

3. Under: Select Primary from List of Cost Centres

4. Use for Job Costing: Yes

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4. Creating Ledger for Job Costing

Create the following ledger,

 

Name

Under

Inventory values are affected

Cost Centres are applicable

Purchase

Purchase Accounts

Yes

Yes

 

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5. Creating Godown dedicated to Jobs

Godowns are  geographical  locations  or  persons  responsible  for  stock  handling.  Whereas, Dedicated Godowns are created to keep track of stocks transferred, consumed and manufactured for each job.
Create a Dedicated Godown allotted to holding stocks for a default job and a normal Godown, used regularly and not assigned to any particular job.
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6. Creating "Unit of Measure" & "Stock Items" for Job Costing

 
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7. Creating Voucher Type with Voucher Class for Job Costing

In Tally.ERP 9, stock journals are used for the following purposes:

 

       To record the stages in the manufacturing process.

       To record the transfer of materials between godowns.

       To record the consumption of materials for Job Costing.

 

 

Create one new Voucher Type and two Voucher Classes to deal with the scenarios in a manufac- turing as well as non-manufacturing environment.

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8. Recording Transactions [ Creating Receipt Note]

On  1-4-09,  Computer  Associates,  placed  an  order  with  Reliable  Computers  for  the following items :

Name of Item

Quantity

Rate per Unit

Value

Mother Boards

12

3,000

36,000

Hard Disk

12

4,500

54,000

Mointors

22

7,500

1,65,000

CPU

22

2,750

60,500

Keyboard

27

725

19,575

Mouse

27

250

6,750

  

 
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9. Creating Purchase Invoice for Job Costing

On 2-4-09, received a purchase bill from Reliable Computers for the supply booked.
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10. Creating Transfer Journal for Job Costing

Computer Associates has employed Raj and Archana. The following components have been issued to them on 4-4-2009 for the upgrading job.

 

 

Details of Stock issued to Raj :

 

Name of Item

Godown

Quantity

Rate

Value

Mother Boards

Stores

6

3,000

18,000

Hard Disk

Stores

6

4,500

27,000

 

 

Details of Stock issued to Archana :

 

Name of Item

Godown

Quantity

Rate

Value

Mother Boards

Stores

6

3,000

18,000

Hard Disk

Stores

6

4,500

27,000

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11. Creating Consumption Journal for Job Cositng

On 5-4-2009, Raj and Archana found that 8 Systems needed a replacement of Mother Boards and Hard Disk. The respective consumption has to be recorded as a job cost.

 

Name of the Item

Godown

Quantity

Rate

Value

Mother Boards

Raj

4

3,000

12,000

Mother Boards

Archana

4

3,000

12,000

Hard Disk

Raj

4

1,000

4,000

Hard Disk

Archana

4

1,000

4,000

 

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12. Creating Payment Voucher for Job Costing

On 6-4-09, Computer Associates made a cash payment of Rs. 31,250 as Service Charges and Rs.  20,000 as Travel Expenses, collectively to Raj and Archana. The costs were assigned to Upgrading Job.
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13. Creating Sales Invoice for Job Costing

On 6-4-2009, Raj and Archana successfully completed the upgrading job at SimplyC Solu- tions. Computer Associates raised an invoice on 6-4-2009 for the upgrading job.
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14. Creating Stock Journal for Return of Materials for Job Costing

On 6-4-2009, Raj and Archana return the remaining components to the stores having completed the job.

 

 

Name of the Item

Godown

Quantity

Rate

Amount

Mother Boards

Raj

2

3,000

6,000

Hard Disk

Raj

2

4,500

9,000

Mother Boards

Archana

2

3,000

6,000

Hard Disk

Archana

2

4,500

9,000

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15. Job Work Analysis Reports for JOB Costing

Go to Gateway of Tally > Display > Statement of Accounts > Job Work Analysis

 

        Select the Upgrading Job to view the Job Work Analysis report for Upgrading Job

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16. Materials Consumption Summary Report for Job Costing

A Material consumption summary is a report that reflects the total material consumed from a godown alloted for a job. To arrive at the Material Consumption Summary

 

 

Go to Gateway of Tally > Display > Statement of Accounts > Job Work Analysis

        Press Enter on Consumption

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17. Godown Summary Reports for Job Costing

 
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18. Comparative Job Work Analysis Report for Job Costing

Computer Associates would like to compare the total jobs executed by them for SimplyC Solu- tions.

 

Go to Gateway of Tally > Display > Statement of Accounts > Job Work Analysis > New Sys- tems Job >

       Select New Column from the Buttons bar and select the Upgrading Job.

       Select any number of jobs as required.

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Question Base [F.A.Q.]- 'JOB Costing' @ Tally.ERP 9
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