Add or Change a Cost Code Budget Add or Change a Cost Code Budget
This option is used to edit a Cost Code Budget or enter new Cost Code Budgets into the system. This screen is accessed through the Job Setup Screen. It is found by pressing the Insert or Change button on the Budget tab of Job Setup.
Budget tracking is based on cost codes. A single job may have any number of cost codes. Each cost code is assigned a cost type. These cost types are Labor, Materials, Subcontracts, Equipment, Burden, and General. Cost codes are set up and maintained in the dictionary of cost codes. To select a cost code, press the lookup button and the Cost Code screen will come into view. Highlight the desired cost code and press the Select button. When a Cost Code is selected, a description of the Cost Code will appear. This description may be changed (customized) for each job. Note: The Cost Code Description is stored in each Job Cost file. This means that one cost code can have a different description depending on the job for which it is being used.
Every cost code is assigned one of six cost types. These cost types are Labor, Materials, Subcontracts, Equipment, Burden, and General. The type selected will determine whether certain fields are grayed-out fields such as Subcontractor when the cost code is not for a subcontractor. A detailed explanation of each cost code type is available below:
1. Labor
see Labor
2. Materials
see Materials
3. Subcontracts
see Subcontracts
4. Equipment
see Equipment
5. Burden
see Burden
6. General
see General
Group Code
If it useful to break the job down further than Cost Code and Cost Type, a Group Code may be assigned to a cost codes. This three digit code may be assigned to differentiate one group of costs (Phase) from another. For instance, if the project is a multiple story building, there may be different phases for each floor.
If Labor is chosen for the Cost Type, then the following fields are available. Note: The Fringe Benefit Table, Certified Craft Codes, Liability, Worker’s Comp. and Piece-Work fields will only be accessible if Labor is chosen for Cost Type.
GL Account
This field will automatically load the G/L Account assigned to Labor.
Workers Comp
Enter the Worker’s Compensation Craft Code associated with this code during timesheet entry or press the lookup button and the Worker's Comp. Code Setup screen will come into view where a new one may be selected. Highlight the desired worker's compensation craft code and press the Select button. This field will default to the Worker's Comp. code associated with this cost code in the Cost Code Dictionary. In this process, the worker's comp insurance is based on the task performed, not the employee's job description. This feature is reported to save companies thousands of dollars per year in Worker's Comp costs.
Liability
Enter the liability code or press the lookup button and the Liability Code Setup screen will come into view. Highlight the desired liability code and press the Select button.
Certified Craft
Enter the certified payroll craft code to be associated with this code during timesheet entry. Press the lookup button and the Certified Codes screen will come into view. Highlight the desired certified craft code and press the Select button. This field will default to the Certified Craft Code associated with this cost code in the Code Dictionary.
Fringe Table
Enter the fringe table to be associated with this code during timesheet entry. Press the lookup button and the Union Fringe Benefit Table screen will come into view. Highlight the desired certified table and press the Select button. This field will display the Fringe Table number.
Piecework Rate
Enter the piecework rate & unit name to be associated with this code during timesheet entry.
Emp Specific (button)
Press this button when, on a Labor Code, specific pay rates are to be used for piecework. For example: If an employee is to be paid per square foot of cement poured. This allows the user to assign specific piecerates to each employee, rather than one piecerate per cost code.
Percent Burden
Enter the additional burden percentage to be associated with this code during timesheet entry. This field will default to the Burden Percentage Code associated with this cost code in the Code Dictionary.
Billing Phase
Choose the correct Billing Phase by using the arrow. See Job Setup to change the Billing Phases.
Billing Code
When customers request their billings be in specific (custom) formats, with their unique billing codes assigned to cost codes, this is where such custom billing codes are set up. This setup requires that the check box for Charge T&M Billing Line Items to Specific Cost Codes be checked in Setup, Accounting Options, Receivables-1.
Unit Price
This is the price agreed upon by customers for each billing code when such a custom billing process is necessary.
Item ID
If this cost code has an associated item from the Item Price File, indicate the Item ID in this field.
Recalculate Budget from Price File (button)
If an Item ID has been assigned, click this button to have the system determine a budget amount based on your cost for this item. The program will look up the Item ID and find the price from the highest priority vendor. It will then multiply this price by the Current Quantity field below. If the item is a Bundle Item, clicking this button will look at all of the item's component parts and use the same formula to calculate a budget amount.
Quantity
Enter the budgeted number of units associated with this code. For example: this will normally be the number of hours for Labor. If it was specified during system tailoring that the quantity unit for Labor codes may not necessarily be hours, the unit description should be entered.
Original/Current
Enter the original budgeted dollar amount. The Current field will default to the same value as entered in the Original field. Otherwise, enter the new figure for the Current budget.
Unit Name
Enter the unit name. For example: hours.
Unit Cost
Enter a cost per unit. The cost entered here will be multiplied by quantities specified to determine the budgeted dollar amount. For example: If square feet is entered in Unit Name and $15.95 is entered in Unit Cost, the accounting system will automatically multiply the quantity specified by $15.95 to determine budgeted costs.
If Material is chosen for the Code Type, then the following fields are available.
Subcontractor / Vendor
Enter the Vendor number or press the lookup button to select the Vendor from the Accounts Payable Vendor screen. The selected Vendor's information will be listed below.
Defaults
GL Account
Enter the appropriate General Ledger control account for this cost code or press the lookup button and the General Ledger Accounts screen will come into view. Highlight the desired account and press the Select button. This field will default to the Labor G/L Account .
Source For Quantity Updates
The following two options are available.
Invoices (radio button)
If Invoices are selected, quantities may be entered when invoices to this job are entered through Accounts Payable.
Field Reports (radio button)
If Field Reports is chosen, a blank will be printed on the Field Report Worksheet forms to allow the job supervisor to provide a quantity figure for this code.
Percent Burden
Enter the additional burden percentage to be associated with this code during timesheet entry. This field will default to the Burden Percentage Code associated with this cost code in the Code Dictionary.
Billing Phase
Choose the correct Billing Phase by using the arrow. See Job Setup to change the Billing Phases.
Budget
Quantity
Enter the budgeted number of units associated with this code.
Original / Current
Enter the original budgeted dollar amount. If there has been no change in the budget, the Current field will default to the same value as entered in the Original. Otherwise, enter the new figure for the current budget.
Unit Name
Enter the description of units in which quantity is measured. This might be pieces, cubic yards, board feet, etc. Five characters are allowed.
If Subcontract is chosen for the Cost Type, then the following fields are available.
Vendor #
Enter the vendor number or press the lookup button and the Accounts Payable Vendors screen will come into view. Highlight the desired vendor and press the Select button. The next field will be filled in with the subcontractors name, address and phone number.
Edit Contract Information (button)
Press the Edit Contract Information button and the following screen comes into view.
Contract Number
Enter the contract number associated with this Vendor.
Contract Date
Enter the contract number for this Vendor and Cost Code.
Signed Contract (check box)
Check this box if the signed contract form has been received from the subcontractor. The system can warn of unsigned contracts during invoice entry if the system setting for Unsigned Contract Warnings has been invoked.
Retention Percent
A default retention percentage can be entered for individual subcontract codes during budget entry. Enter the Retention percentage for this cost code.
Work to be Performed
Enter any notes about the labor to be performed with this contract.
Payment as Follows
Enter a short description of the payment guidelines.
Print Contract Form (button)
Click this button to generate a Contract form for printing.
Defaults
GL Account
Enter the appropriate General Ledger control account for this cost code or press the lookup button and the General Ledger Accounts screen will come into view... Highlight the desired account and press the Select button. This field will default to the Subcontractor G/L Account .
Source For Quantity Updates
The following two options are available.
Invoices (radio button)
If Invoices is entered, quantities may be entered when invoices to this job are entered through Accounts Payable.
Field Reports (radio button)
If Field Reports is chosen, a blank will be printed on the Field Report Worksheet forms to allow the job supervisor to provide a quantity figure for this code.
Percent Burden
Enter the additional burden percentage to be associated with this code during timesheet entry. This field will default to the Burden Percentage Code associated with this cost code in the Code Dictionary.
Billing Phase
Choose the correct Billing Phase by using the arrow. See Job Setup to change the Billing Phases .
Budget
Quantity
Enter the budgeted number of units associated with this code.
Original /Current
Enter the original budgeted dollar amount. If there has been no change in the budget, the Current field will default to the same value as entered in the Original. Otherwise, enter the new figure for the current budget.
Unit Name
Enter the description of units in which quantity is measured. This might be hours, pieces, cubic yards, board feet, etc. Five characters are allowed.
If Labor is chosen for the Cost Type, then the following fields are available
Defaults
GL Account
Enter the appropriate General Ledger control account for this cost code or press the lookup button and the General Ledger Accounts screen will come into view. Highlight the desired account and press the Select button. This field will default to the Equipment G/L Account.
Percent Burden
Enter the additional burden percentage to be associated with this code during timesheet entry. This field will default to the Burden Percentage Code associated with this cost code in the Code Dictionary.
Billing Phase
Choose the correct Billing Phase by using the arrow. See Job Setup to change the Billing Phases.
Budget
Quantity
Enter the budgeted number of units associated with this code.
Original /Current
Enter the original budgeted dollar amount. If there has been no change in the budget, the Current field will default to the same value as entered in the Original field. Otherwise, enter the new figure for the Current Budget.
Unit Name
Enter the description of units in which quantity is measured. This might be hours, pieces, cubic yards, board feet, etc. Five characters are allowed.
If Labor is chosen for the Cost Type, then the following fields are available.
Defaults
GL Account
Enter the appropriate General Ledger control account for this cost code or press the lookup button and the General Ledger Accounts screen will come into view...Highlight the desired account and press the Select button. This field will default to the Burden G/L Account.
Percent Burden
Enter the additional burden percentage to be associated with this code during timesheet entry. This field will default to the Burden Percentage Code associated with this cost code in the Code Dictionary
Billing Phase
Choose the correct Billing Phase by using the arrow. See Job Setup to change the Billing Phases
Budget
Quantity
Enter the budgeted number of units associated with this code.
Original /Current
Enter the original budgeted dollar amount. If there has been no change in the budget, the Current field will default to the same value as entered in the Original field. Otherwise, enter the new figure for the Current Budget.
Unit Name
Enter the description of units in which quantity is measured. This might be hours, pieces, cubic yards, board feet, etc. Five characters are allowed.
If General is chosen for the Cost Type, then the following fields are available.
Defaults
GL Account
Enter the appropriate General Ledger control account for this cost code or press the lookup button and the General Ledger Accounts screen will come into view. Highlight the desired account and press the Select button. This field will default to the Labor G/L Account.
Source For Quantity Updates
The following two options are available.
Invoices (radio button)
If Invoices is entered, quantities may be entered when invoices to this job are entered through Accounts Payable.
Field Reports (radio button)
If Field Reports is chosen, a blank will be printed on the Field Report Worksheet forms to allow the job supervisor to provide a quantity figure for this code.
Percent Burden
Enter the additional burden percentage to be associated with this code during timesheet entry. This field will default to the Burden Percentage Code associated with this cost code in the Code Dictionary.
Billing Phase
Choose the correct Billing Phase by using the arrow. See Job Setup to change the Billing Phases.
Budget
Quantity
Enter the budgeted number of units associated with this code.
Original /Current
Enter the original budgeted dollar amount. If there has been no change in the budget, the Current field will default to the same value as entered in the Original field. Otherwise, enter the new figure for the Current Budget.
Unit Name
Enter the description of units in which quantity is measured. This might be hours, pieces, cubic yards, board feet, etc. Five characters are allowed.
Report Sample - Contract Form (for Subcontractor)
