{"id":113,"date":"2016-11-02T03:15:00","date_gmt":"2016-11-02T03:15:00","guid":{"rendered":"https:\/\/www.timeteccloud.com\/blog\/index.php\/2016\/11\/02\/effective-job-costing-with-timetec-ta\/"},"modified":"2024-04-08T05:49:00","modified_gmt":"2024-04-08T05:49:00","slug":"effective-job-costing-with-timetec-ta","status":"publish","type":"post","link":"https:\/\/www.timeteccloud.com\/blog\/effective-job-costing-with-timetec-ta\/","title":{"rendered":"Effective Job Costing with TimeTec TA"},"content":{"rendered":"<p><span style=\"font-family: 'Trebuchet MS', sans-serif;\">Job costing is the process of tracking costs by tasks assigned, where employer gets to monitor the cost of each work completed by the employees. Having this information, company can evaluate its profitability and review its decisions based on the return-on-investment or cost-effectiveness of the work done.\u00a0<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif; font-size: large;\"><br \/>\n<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif; font-size: large;\">3 Obvious Job Costing Benefits!<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><b><i><span style=\"color: #0b5394;\">Improve Profitability<\/span><\/i><\/b> \u2013 Job costing is calculation of cost based on each work. It\u2019s the process of quantifying each work into dollars and cents, allowing the management to calculate the monetary value for individual task. As the management reviewing the report on job costing, it\u2019ll become apparent on which tasks that are hemorrhaging money and which tasks are doing fine, resulting in cost control measures that can bring better profits to the company.\u00a0<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><span style=\"color: #0b5394;\"><b><i>Assess Work Performance<\/i><\/b><\/span> \u2013 Through job costing, you will be able to assess your employees\u2019 individual work performance, based on everyone\u2019s productivity and efficiency. Always when dealing with a group of employees, there\u2019s no accurate indication of who\u2019s actually doing what and how effective this staff is. With this tool, you will be able to identify and justify employees who fail to meet performance expectation and recognize the ones that have performed well.<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><b><i><span style=\"color: #0b5394;\">Estimate Future Costing<\/span><\/i><\/b> \u2013 By having the cost for each job, management can make estimation of the future costing that will incur and plan on their resources better. This will enable company to understand what the REAL cost for a job to be completed.\u00a0<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\">Regardless of the size of your company, job costing can deliver an efficient method to calculate the exact expenses required for your company\u2019s production. Be in control of your company\u2019s costing today! Try the job-costing feature in TimeTec TA through the steps below:<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\">1. Create the work code at Company &gt; Remark\/Workcode.\u00a0<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\">2. Add in user work rate per hour in their Profile at User &gt; Manage User.<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\">3. Create flexi schedule and enable the work code in Schedule settings<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><\/p>\n<div style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEg84sOvtKbNVkMYEbYqM41J5SnB4isrx0qj5kSdbyqd0ZT-w3A0sQpz5Mle-YWXGAG6SqE4ryFwdZZLZ_s-sJE12PU87oRe7I2A4gKaps0jif3jW14zNnAeWjdRiK9sbFN7eGIyD3PSt_4\/s1600\/jobcost.png\"><img decoding=\"async\" src=\"https:\/\/blogger.googleusercontent.com\/img\/b\/R29vZ2xl\/AVvXsEg84sOvtKbNVkMYEbYqM41J5SnB4isrx0qj5kSdbyqd0ZT-w3A0sQpz5Mle-YWXGAG6SqE4ryFwdZZLZ_s-sJE12PU87oRe7I2A4gKaps0jif3jW14zNnAeWjdRiK9sbFN7eGIyD3PSt_4\/s1600\/jobcost.png\" border=\"0\" \/><\/a><\/div>\n<p><span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\">4. Assign users into the schedule.<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\">5. Make sure that users under this schedule choose their work code each time they clock for work.<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\">6. Generate report at Report &gt; Attendance Listing &gt; Job Cost Analysis.\u00a0<\/span><br \/>\n<span style=\"font-family: Trebuchet MS, sans-serif;\"><br \/>\n<\/span><br \/>\n<span style=\"color: #990000; font-family: Trebuchet MS, sans-serif;\"><i>Note: We will enhance this feature in the future by allowing Admin to add in the rate per hour for each work code to provide a more detail job costing report.\u00a0<\/i><\/span><\/p>\n<div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Job costing is the process of tracking costs by tasks assigned, where employer gets to monitor the cost of each work completed by the employees. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[342],"tags":[416,417,283,234],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Effective Job Costing with TimeTec TA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.timeteccloud.com\/blog\/effective-job-costing-with-timetec-ta\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Effective Job Costing with TimeTec TA\" \/>\n<meta property=\"og:description\" content=\"Job costing is the process of tracking costs by tasks assigned, where employer gets to monitor the cost of each work completed by the employees. 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