Job Costing Software Feature
The primary goal of job costing is to determine the overall price and profitability of a particular job. Job costing refers to tracking costs against a certain job or project. Companies use labor time sheets to track the amount of labor used to complete the job. This information is compiled on a job cost report, which is used to analyze the profitability of the job.
✓ Accurate Records
Maintain accurate business records for DCAA compliance and audits.
✓ Budget Building
Assists with the budget building process for projects and jobs.
✓ Profit Calculation
Calculate profit on individual jobs and projects easily.
✓ Team Productivity
Keep track of your team’s productivity across all projects.
Time Tracking Software for Job Costing
Hour Timesheet provides reliable insight into how much a job will cost against the backdrop of how profitable it can be. It projects labor hours and labor costs, so you have a clear picture that also helps you demonstrate, at any given moment, DCAA compliance for government and defense contracting jobs. Hour Timesheet gives you the power to see where projects may be costing you more than they’re worth, and shows you ways to stay on time and within budget.
How Hour Timesheet Job Costing Software Works
To gain insight into a project’s costs, simply input the bill rate and the pay rate details for every employee’s job code. Right away, Hour Timesheet generates easy-to-use job costing data. This enables you to quickly gauge your project’s budget and adjust as needed to help ensure efficient use of your employees’ time.
Some of the most important benefits of Hour Timesheet’s online job costing software include the following:
Keeping Accurate Business Records
From constantly being able to monitor and control costs for optimum profitability on each project to tax records to always being ready for any DCAA-compliance audit, Hour Timesheet’s job costing features make it easy to track and budget expenses responsibly and efficiently.
Creating and Maintaining a Budget
Hour Timesheet project and job costing software automates and simplifies the process of crunching the numbers when you’re building a budget for a project. You can track every expense for each project and budget wisely for resources along the way, measuring the impact of each expense and how it fits into the overall project budget.
Calculating the Profit for Each Job
With the budgeting clarity Hour Timesheet provides, you can more accurately project how much profit each project you evaluate is likely to gather. You can break projects into smaller jobs and assess profits or losses, which helps you save time and money — enabling you to focus on the areas with the best profit outcomes.
Tracking Your Team’s Productivity
With Hour Timesheet’s job costing software, you can keep track of your team’s productivity on the level of individual jobs. This allows you to assess where to allocate resources and make smarter decisions about how your workforce tackles your most important projects.
Hour Timesheet’s Project Job Costing Software
Our project job costing software streamlines the process of tracking expenses against individual projects. Combined with our time tracking capabilities, you get a complete picture of labor costs and project profitability. No-contract, pay-as-you-go pricing includes free support and training.
Frequently Asked Questions
What is job costing software?
Job costing software helps track all costs associated with specific projects or jobs, including labor hours, materials, and expenses. It provides visibility into project profitability and helps maintain DCAA compliance.
How does Hour Timesheet help with DCAA compliance?
Hour Timesheet automatically tracks labor costs against jobs and projects, maintains audit trails, and generates reports needed for DCAA audits. All data is captured in real-time for accurate compliance reporting.
Can I track multiple projects simultaneously?
Yes, Hour Timesheet allows you to track unlimited projects and jobs. Each employee can log time against multiple projects, and you can view profitability reports for each project independently.
Does Hour Timesheet integrate with accounting software?
Yes, Hour Timesheet integrates seamlessly with QuickBooks Online, QuickBooks Desktop, and other major accounting packages to sync job costing data automatically.