PURPOSE

The purpose of the TOTAL JOB STATUS File is to gather accounting information BY JOB
for FINANCIAL REPORTING.

Since Jobs can span several Fiscal Years, and detailed Income and Expense records
are only kept for TWO FISCAL YEARS, a record is needed for each CONTRACT or MAJOR
JOB, to keep SUMMARIES of PREVIOUS YEARS' BILLINGS, RECEIPTS, COSTS , PAYMENTS,
and GROSS PROFITS.

Also needed are CONTRACT and BUDGET INFORMATION, as well as KNOWN COST OVER-
RUNS and UNDER-RUNS.

Finally, the Financial Reports need to know if a Job is OPEN, with more potential Costs &
Billings or CLOSED, with no PROJECTIONS required for FUTURE ACTIVITY.

 

A. Original Setup

The ORIGINAL SETUP takes place AUTOMATICALLY when the Job is ADDED to the Job
Master File, IF A JOB CLASS is used that calls for Total Job Status Reporting.

In most cases Jobs that need Financial Reporting are classified as CONTRACT JOBS,
and that CLASS has Total Job Status specified.

During the setup of Job Cost Records a TOTAL JOB STATUS RECORD is created, with
JOB CODE, JOB DESCRIPTION (name), ORIGINAL CONTRACT, and ORIGINAL BUDGET
(from total of ESTIMATED AMOUNTS entered for the JOB).

B. Routine Updating

     For numbers 1 thru 5 Routine Updating is accomplished through GENERAL LEDGER
     JOURNAL ENTRIES which carry a Job Code and Total Job Status Update Code (BRCP).
     These updates are invisible to the User, and come directly from the Journal Entry Records.

 

      If you specify a Report that covers a period that has NOT BEEN CLOSED TO THE GENERAL
      Ledger, then the DETAIL RECORDS will be scanned and a TEMPORARY CLOSING will be
      done to provide the Financial Data for that Time Period.

 

      For number 6 the Change Orders are updated directly into the Total Job Status Record fields
      for CHANGES TO CONTRACT and CHANGES TO BUDGET.

 

1. Payroll

From JOB LABOR COST RECORDS the LABOR, FRINGE and BURDEN COSTS are
accumulated.

2. Accounts Payable

From OPEN ACCOUNTS PAYABLE RECORDS the MATERIAL, SUBCONTRACT and MISC.
EXPENSE COST Items are accumulated. PAYMENTS are recorded from PAID INVOICES.

3. Accounts Receivable

From OPEN ACCOUNTS RECEIVABLE RECORDS the Billings are accumulated. RECEIPTS
are recorded from PAID BILLINGS.

4. Miscellaneous Job Cost

From MISCELLANEOUS JOB COST  any CHANGES to JOB COSTS are accumulated
(deductions from one Job and additions to another).

5. General Ledger Journal Entries

From the GENERAL LEDGER JOURNAL FILE any CHANGES that apply to JOB COST
BILLINGS, RECEIPTS, COSTS and PAYMENTS are accumulated.

6. Job Cost Change Orders

From CONTRACT and SUBCONTRACT CHANGE ORDERS, CHANGES TO CONTRACT
and CHANGES TO BUDGET are updated into the Total Job Status Record fields that hold
these Cumulative figures.

C. Exception Updating

1. Total Job Status - Close Dates and Overrides

From the Total Job Status Menu or Fiscal Year End Menu a program can be run to ENTER
JOB CLOSE DATES and OVERRIDE ORIGINAL and ADJUSTED CONTRACT and BUDGET
AMOUNTS.

This program is also used to enter any KNOWN COST OVER or UNDER-RUNS that will
affect Financial Reporting on a Job.

2. Fiscal Year End Update

At FISCAL YEAR END an automatic process will ACCUMULATE ALL PREVIOUS YEARS'
BILLINGS, RECEIPTS, COSTS, PAYMENTS and GROSS PROFITS into the Total Job Status
Records.

Then the DETAILED INCOME and EXPENSE RECORDS for the PREVIOUS YEAR will be
DROPPED from the General Ledger Journal File.
 

D. Reporting

1. Total Job Status Report

This is a SUMMARY REPORT for BUDGETED PROFIT, ACTUAL PROFIT and CASH FLOW.

2. Work in Process Report and ADJUSTMENT TO SALES update to General Ledger

The left side of this report states the facts as reported from the Accounting System,
CONTRACTS, BUDGETS, BILLINGS and COSTS.

In the center column a PERCENT COMPLETE is COMPUTED based on COSTS as a
percentage of the ESTIMATE. This PERCENTAGE CAN BE ALTERED as in the case
of KNOWN COST OVER or UNDER-RUNS by using the Total Job Status Edit Close
Dates and OVERRIDES Menu Selection. Any entry in COST OVER/UNDER RUN will
ALTER THIS PERCENTAGE and cause an * to print to its right, as a flag that this
Percentage has been changed.

BASED ON PERCENT COMPLETE, the right side of the Report shows COST TO COMPLETE,
OVER AND UNDER BILLINGS and EARNED TO DATE.

An OPTION on the Report will allow you to COMPUTE and UPDATE THE GENERAL LEDGER
with an ADJUSTMENT TO SALES based on TOTAL OVER and UNDER BILLINGS.

3. Contracts in Progress Report

This is a typical BONDING COMPANY REPORT that lists 13 columns of Financial Data
for each Job. Data includes CONTRACTS, ESTIMATES, COSTS, % COMPLETE, PROFIT,
BILLINGS, and BILLINGS IN RELATION TO COSTS AND PROFITS.
 

4. Subsidiary Schedule of Gross Profit by Job

This Report can be run on a Percent of Completion, Completed Contract or Cash Basis.
GROSS PROFIT YEAR TO DATE is derived from Billings, Costs and Adjustments to Sales
JOB TO DATE and YEAR TO DATE. Profit as a Percent of Sales is also computed.

5. Job Status Current Detail

A listing of all the JOURNAL ENTRY Records that were used in compiling the above
Reports. Provides an AUDIT TRAIL BACKUP for Total Job Status.
 

E. Closing and Removal

1. Closing Total Job Status Jobs

By CLOSING A JOB you FORCE the PERCENT COMPLETE to 100%. Also Closed Jobs will
be EXCLUDED from Reports specified as OPEN JOBS ONLY. Finally, they will be shown
on the COMPLETED CONTRACT PROFIT REPORT.

Closed Jobs can still have ACTIVITY POSTED to them, but no PERCENT COMPLETE will
be computed.

2. REMOVAL of Total Job Status Jobs.

Removal of CLOSED JOBS is an AUTOMATIC part of the FISCAL YEAR END PROCEDURE.
Any Job marked as CLOSED will be dropped from the File at this time.