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JulieMac2's avatar
JulieMac2
Experienced User
12 months ago

Job Profit & Loss

How can I get a true Job Profit and Loss when I am yet to run a Payroll?

We run payroll fortnightly, so the payroll expenses dont show against that job until you actually run a payroll - this is not sufficient as we want to see the true expenses at the time we Invoice the Job, and not have to wait till we run a payroll. Additionally, we sometimes add an activity to the job after a payroll, and again this cost does not come up in the expenses/costs on that job.  Is there anyway to get a Time Billing expense to show as an expense on a Job without running the payroll?  TIA

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  • Sean_DC's avatar
    Sean_DC
    MYOB Moderator
    12 months ago

    Hi JulieMac2 

     

    Thank you for your post. I'm glad to assist you.

     

    A Profit and Loss report by Job can be produced by going to Reports >> Accounts >> Jobs >> Selecting the Job Profit & Loss Statement and the desired period before selecting Display report. This will provide a breakdown per Job for the Profit and Loss. If you are needing a separate page per job you could select the Print Preview >> Page Break option.

     

    Here's a Help Article that lists some other available reports for Jobs.

     

     

    Please feel free to post again. I'm happy to assist further.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.

     

    • JulieMac2's avatar
      JulieMac2
      Experienced User
      12 months ago

      Hi Sean

       

      Thanks for your response :)

      Sorry, but this hasnt my query - the query was about how to get an accurate Job Profit & Loss BEFORE I had run a payroll - this can be a problem if you run a fortnightly or monthly payroll and a Job was finished at the start of that period.

      Thanks

      Julie

      • Julie_A_C's avatar
        Julie_A_C
        Partner
        12 months ago

        Hi JulieMac2 Sean_DC 

         

        The only way you can get what you actually want is to do a true accruals accounting and pass a general journal at the end of each week or when the job has finished.

         

        You would debit the wages expense for gross wage to be paid for the job in question, debit super expense both using the job number, and credit this to a liability account called Wages/Super accrued for completed jobs (no job number against this).

         

        When you actually process the wages, you would reverse the transaction.