We use job costing. As those of you who also use job costing would know the job profit and loss reports 4 areas Income, Cost, Expenses and Net Profit.
I want to move the costs and expenses from one job to another whilst keeping the original data intact. I can easily move the Costs via a general journal. Does anyone know how to move the Expenses (which comes from payroll) from one job to another?
Hi Joanne14,
From what I've gathered, you can actually move expenses from one job to another using a General Journal entry. To do this, you'll need to debit the expense account with the amount you want to move and assign the job code of the job you are moving the expense to. Then, credit the same expense account with the same amount and assign the job code of the job you are moving the expense from. This way, you can reallocate the expenses while keeping the original data intact. But, it's always a good idea to consult with your accountant to make sure everything's handled properly.
Additionally, we have Mike_James, who knows our product very well and may be able to offer some extra tips for you.
Cheers,
Princess
Good Morning
Is there a way to move entries on an incorrect job line by line to another job? I know I have done this in the past many years back but cannot remember how.
Thankyou
Leanne
Hi LDOG,
Thanks for your question. While there isn’t a tool to move entries between jobs line by line, you can transfer them using a General Journal. Enter the same account twice, debiting the correct job and crediting the incorrect one to clear it out. If the original transaction is still editable, you may also be able to update the Job No. directly on each line. Before recording the journal, it’s a good idea to confirm the treatment with your accountant.
Cheers,
Princess
Thanks Princess
Thats a bummer, another feature that I am sure was in MYOB some time back but now not available.
Sincerely appreciate the quick response.
