Job Costing is an industry standard practice for tracking costs of construction projects which provides a structured approach to understanding project financial performance. Construction accounting systems implement job costing by using cost codes that are modeled after the Construction Specifications Institute (CSI) Division standards. A cost code is assigned to each line item in the scope of work for tracking the cost associated with that item. Each cost code allows for a cost type to properly categorize every expense charged to a job.
Download the Adiona Job Cost Model for Quickbooks
The Adiona job cost model is designed to add a cost code structure to QuickBooks Online (QBO) to support job costing, while retaining current QBO features with minimum impact to accounting procedures. The model provides a simple integration with the Adiona construction management system. Properly structured accounting information can be imported and used by the Adiona Business module to track project costs, perform financial analysis, and produce WIP schedules.
In order to use this model, enable the ‘Project’ feature in QBO to organize costs by project. We use QB’s ‘Item List” to implement cost codes/cost types, and record expenses and billings by project.
The templates in the download file can be imported to create “Product and Services” that correspond to the cost code/cost type format described above. Also included is a template that adds entries to the chart of accounts to capture the job costs and roll them up the the standard “Cost of Goods” account.
Please contact our support team if you need assistance with your implementation.