QicWorks cost reporting incorporates functionality whereby users can set when they wish to commit their purchase order values to their Jobs. Using the Cost Reporting setting allows QicWorks to determine which procurement document values will be used. And naturally, as we love flexibility, QicWorks also has the ability to override the committed value, as well as track historical changes.
The committed value is then shown within your Actual, Billable and Edit Billable Cost Reports.
We recommend that on account setup, administrators select when they wish to commit their order values. While QicWorks allows administrators to change this setting at any time, we do not recommend you do it, as your historical job management data will not be recalculated. (This change will only effect new purchase orders going forward.)
Only 1 method can be selected. This is an account setting.
This functionality is only available for purchase orders. Procurement items entered as an expense are committed as soon as the expense is Issued.
Click on Business from the main menu, then click on Settings . From the Financial Settings menu click on Cost Reporting .
Cost Reporting Details
Navigate to Cost Reporting to select your calculation method.
A Navigation Breadcrumbs: Click on hyperlinks to jump to that screen.
B Toggle Page Width: Click to increase or decrease the page width.
C Navigation Menu: Click navigate to other Job & Task Settings.
D Reporting Method: Click to select when you wish to commit your costs.
E Save & Cancel buttons.
Don't forget to click Save to save your changes.
Cost Reporting Method Details
Administrators now have the ability to choose from:
Use the value of your Bills (supplier invoices) to set your Job Costings.
Capture your job costing as soon as your purchase order is issued. Any changes in value need to be completed within the original purchase order for these changes to be allocated to your Job.
Delivery Docket & Bills
Commit your costs to your Job as soon as your deliveries are received. QicWorks uses the Unit Price of the purchase order value multiplied by the quantity received on your delivery docket, plus any Bills entered to calculate your Job costings.