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
