On selection of the ADD option you are asked to enter the cost code you wish to add. This reference must be in the format you have defined, by default one letter followed by two numbers (A99), and you are not allowed duplicate cost codes in the files. The program checks for both format and uniqueness. If the cost code already exists in the file you are warned accordingly. Pressing <Enter> allows you to re-enter the cost code. <Escape> when prompted for the cost code returns you to the maintain cost codes menu. Note that you can use the <F4–Select> key to see what codes are defined already to avoid duplication.
Once the cost code has been accepted the cursor moves to the input area of the first data item on the screen and you can start keying in the cost code details. <ENTER>, <TAB> or <Down-Arrow> moves you through the input items on the screen, <Up-Arrow> or <Shift + TAB> moves you back up the items. Clicking the SAVE button saves the cost code record, as does <Enter> from the last item on screen. Using the <Escape> key or the ABANDON button in this screen has the effect of abandoning the input so far on this cost code and returns you to the Maintain Cost Codes menu. You can still use the number of the cost you have just abandoned for another cost code.
The following paragraphs describe some of the specific details you may be asked to key for each cost code record.
The title of the cost code is, for cost codes, a description of the process the cost code relates to – Stock Issue, Printing, etc. For employee codes you would normally enter the employee’s name.
The cost category number must be one of the valid category headings set up for your job costing system.These are usually listed here as part of the screen design for your convenience.
This is the standard cost per unit to be charged for this cost code. You would leave it at zero if there is no standard default cost, and certainly leave it zero for an employee cost code where the employee hourly rate is to be used.
This feature marks up the costs entered into job costing by the set percentage to enable recovery of overheads when considering the costs of fulfilling jobs. All costs are marked up by this set percentage.
If you are entering details for employee costs, you must reply Y to the timesheet cost code question – this allows this cost to be selected as the employee code during timesheet entry.
If cost code is to record employee costs and the job costing system is to update the payroll system then you need to set the payroll application company to link to.<F4-Select> allows you to select from the list of companies configured within the system profiles.
Again only applicable for update to the payroll system this asks for the employee number to be updated for timesheets posted against this cost code. If linked to payroll, and set to lookup employees, within the Job Costing system profiles then <F4-Select> is available to select the employee.
Copy Standard & Overtime Rates from Payroll Employee File?
After confirming the employee code you may, depending on configuration, be prompted to copy the rates from the employee record.
If job costing system profiles not set to ‘Use payroll employee rates’ then time sheets are entered using the rates entered on the cost code – when you create the cost code you are given the option to copy over the normal employee rates and amend as required. If the system is set to use the payroll rates then the rates entered on the cost code are ignored and rates recorded on the employee record used.
If not using the employee file rates then you need to enter the standard hourly and overtime rates to be used for timesheet entry.
In addition to these items you may also have inputs for:
You may have the same standard rates for many different cost codes and, if that rate changes, that change needs to be applied to all the appropriate cost codes. Rather than entering the rate against the cost code you can set a cost code ‘constant’ number. When a job transaction is entered for the cost code instead of applying a rate from the cost code the system applies the rate set in the constant table. The constant values maintenance is discussed below.
Similar to the above, when defining Employee Cost Codes many employees may be paid the same standard and overtime rates and when those rates change you do not want to amend all the individual employee cost code. This option, available on Diamond and Premier, allows you to record a default cost code against this employee cost code – when time sheets are entered for the employee the rates are taken not from the employee cost code but from the default cost code specified.
Article ID: 742
Created On: Mon, Jun 25, 2012 at 10:24 AM
Last Updated On: Mon, Jun 19, 2023 at 10:45 PM
Online URL: https://kb.datafile.co.uk/article/add-a-cost-code-742.html