Job Costing! Brand New Feature available on our Business Plus +Costing Plan!
Want to know what each portion of your company is costing you? How much do you pay to your Sales Team? Admin? With our new job costing feature you have the ability to assign each earning within your payrun to a GL code (that you have created in your *NEW Chart of Accounts) and then run your *NEW GL Transactions report to get all the amounts that went into each account! Wow you say! We agree! Here’s how it works:
Normally your GL report pulls the GL code from the employee profile and reports based on the code assigned to the employee. Now with Job Costing you can report by Time Record GL code from within the payrun, so one employee can now have different GL codes associated with the different types of work they may do for your company!
“How do I set this up right now,” you ask? First you will need to upgrade to the Business Plus Plan with Costing, contact us to get it actyivated for you. Next login in to your new super account and let’s begin setting this up:
First go to your COMPANY SETTINGS> PAYROLL OPTIONS and select the CHART OF ACCOUNTS Tab.
Select + Add New Account then select your Account Type (Asset, Liability or Expense) and give it a Name, Description and Account Number (this is the GL code number in your books). Click Save.
Once you have added all your cost accounts you can set your employees to a default account. This will apply to regular earnings.
Then add the cost accounts to your earnings rules under Pay Rules.
THEN run your payroll. When running payroll the cost account assigned will default in the following order:
1. Regular Earnings will default to the employee GL code
2. The GL code set up in Pay Rules>Earnings will apply to any additional earnings
3. You can overwrite any of the above by using the drop down on the cost column in the payrun for each item
So You’ve Run your Payroll, Now What?
Once you complete your payroll you can click on REPORTS and from the report dropdown in the PAYRUN HISTORY report you can select the GL TRANSACTIONS REPORT and use the search options to find what you need. This report can be exported into Excel or PDF