One of the many advantages ERPs like JD Edwards offer businesses is the ability to keep an eye on project costs and revenues. In fact, the JD Edwards EnterpriseOne Job Cost application allows users to establish job budgets, calculate job progress (at any time during the job), create and maintain job cost code structures, and more. To help you get the most use out of this application, we’ve assembled a list of some of the most important JD Edwards Job Cost best practices.
What to Keep in Mind When Implementing JD Edwards Job Cost
As you’re implementing Job Cost, be sure to keep an eye on service billing and contract billing. They can be a bit complicated due to their points of integration with other areas of JD Edwards applications. You’ll also need to identify what type of company (private or government agency, for example), as well as what service or goods you provide, when implementing Job Cost because the regulatory requirements that govern your company will play a role in what information and reporting will be necessary from your JD Edwards setup.
Job Cost Type Breakdown
At its core, the Job Cost system is made up of three cost types: the business unit, object account, and subsidiary account. (Remember—the subsidiary describes the cost type of expense.) Note that the design of your company’s Chart of Accounts is critical to the Job Cost application.
Installing Job Cost ESUs
Over time, you’ll need to install electronic software updates (ESUs) for JD Edwards EnterpriseOne Job Cost. Before doing so, make sure you figure out which systems will be impacted by those ESUs (you don’t want to accidentally break other parts of the solution, after all). One way to search and download ESUs is the EnterpriseOne and World Change Assistant, a Java-based tool that can reduce the time needed by 75 percent or more.
Jobs and Payroll
If your company uses both the Job Cost application as well as JD Edwards EnterpriseOne Payroll, you can enter payroll information for jobs you create (like rate tax rules, burden rates, etc.) in the Job Master Records. Don’t use JD Edwards EnterpriseOne Payroll? Not to worry—just create a processing option that hides payroll fields on Job Master forms.
Customization
As helpful as it is already, there will come a time when you need to customize JD Edwards EnterpriseOne Job Cost to better serve your needs, whether that’s by selecting from a variety of computation methods when calculating projected final values, integrating industry-specific terminology into forms and reports, or setting up unique cost code structures for different jobs. Speak to our JDE consulting team today to learn more about how these customizations can serve your needs.
These were just a few of the tips and tricks that will help you better understand JD Edwards Job Cost. You can find more of them in our ebook: JD Edwards Financials 101. It’s bursting at the seams with great information, ranging from how to organize your Chart of Accounts to hot tips for automating Accounts Payable, not to mention even more info on helpful JD Edwards Job Cost best practices.
In need of more specific information? We also have an extensive network of JD Edwards Financials consultants that can help.
