Job Costing Analytics helps to optimize various cost associated with a Job, allocate resources effectively and drive overall success
Job costing analytics provides comprehensive details such as Job total, discounts, sub-total, job cost, gross profit, overhead costs, break-even, net profit, net profit % and RPH for the chosen period.
These insights facilitate efficient resource allocation of employees, equipment, and materials, driving organizational success.
- Metrics and Description
- Calculated fields
- Benefits and Advantages
- Job Costing analytics short video tour
Job costing Analytics has delivered the below metrics.
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Metrics |
Description |
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Overall Metrics |
Over-all view with cumulative metrics like Job Total, sub-total, cost, discount, Gross profit, Net profit, RPH during the specified period, providing insights into their financial performance. |
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Analyze Job Costing by Service Category |
Provides detailed key metrics for each service category, offering insights on the cost and profit per service category. |
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Analyze Job Costing by Job |
Facilitates detailed analysis of job costing at the individual job level. This visualization provides detailed key metric values for each job. |
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Resource Cost Summary per Job |
This summary details the costs associated with resources used in a specific job, facilitating an understanding of resource allocation including Employee, Material, and Equipment cost involved per Job. |
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Most Profitable Jobs | Top 10 |
List of top 10 most profitable jobs for the selected period. |
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Least Profitable Jobs | Top 10 |
List of 10 less profitable jobs for the selected period, helping us understand the factors contributing to their lower profitability. |
Here are the business constraints that are applied.
- All metrics are computed based on the selected date range filter.
- Only active jobs are taken into account for calculation..
- Job Total: Total Price
- Sub Total: Job Total after deducting discount
- Discount: Total amount discounted from the original pricing.
- Gross Profit = (Sub Total - Cost)
- Gross Profit % = (Gross Profit / Job Total) * 100
- OH Cost = (Job Total * (Overhead Exp Margin / 100))
- Break Even = (OH Cost + Cost)
- Net Profit = (Sub Total - Break Even)
- Net Profit % = (Net Profit / Job Total) * 100
- RPH = Job Total / Actual Hours [Average revenue earned per hour of work]
Filters
Using filters, you can analyze by applying various search criteria, here are the available filters:
Service Category → Job → Customer → Salesperson
Recommendations
Based on the insights gained, consider the following recommendations:
- Revenue Diversification: Explore opportunities to diversify revenue streams or focus on higher-margin projects.
- Cost Control Measures: Implement cost-saving measures to improve profitability without compromising on quality.
- Optimized Pricing Strategy: Review discount policies and pricing strategies to maximize revenue while maintaining competitiveness.
The Importance of Job costing Analytics & Benefits
- Cost Control: Job costing analysis allows businesses to closely monitor and control costs associated with individual projects.
- Budgeting and Planning: By analyzing costs from past projects, businesses can make informed estimates and set realistic budgets for new projects, ensuring profitability and financial sustainability.
- Resource Allocation: Understanding the costs associated with different projects enables efficient resource allocation, optimizing overall operational efficiency.
- Price Setting: Job cost analysis provides insights into the actual cost of delivering products or services. This information is valuable when setting prices for new jobs or services, ensuring that prices cover costs while remaining competitive in the market.
Job Costing analytics short video tour