There is departmental costing which can be used to analyse costs and revenue by department / cost centre / area / shop / job etc.
However, VT is a reporting rather than a planning tool so not being sure about whether you will be intending to use the software for projections just thought that I needed to throw the proviso in there.
HTH,
Shaun.
p.s. edited only for a gramatical error (changed word "how" to "whether").
-- Edited by Shamus on Thursday 28th of February 2013 10:11:03 AM
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
As a contracting company in the construction industry we need to know how a particular contract is performing (or has performed) financially.
Incoming invoices will obviously be allocated to various accounts in either Cost of Sales or Overhead Expenses. Additionally I would like to allocate Cost of Sales invoices to a particular contract heading so that a historical record will be built up of the costs associated with a particular contract.
This is easy in QuickBooks. Can it be done in VT?
We will not be using this for planning or projections just an historical record of each contract.
just popped off to the VT help facility and came back with the entry at the bottom of the page. (always better to get these things fro the horses mouth so to speak).
you can get a free fully functioning one month trial of VT to try before you buy which is probably going to be the best option for you for starters.
Departmental costing is the analysis of income or expenses by departments or cost centres. An unlimited number of departments can be set up. To set up departments, choose the Set Up>Currencies, Departments And Lists>Departments command.
There is an option in the Departments dialog to specify the ledgers that are analysed by department.
You are forced to select a department when an entry is made to an account in a ledger which is analysed by departments.
Departments do not have to be called departments. They can be called cost centres, divisions, shops or whatever you like. To change the word departments to some other word, choose the Set Up>Currencies, Departments And Lists>Lists command and double click on the Departments item.
Displaying departmental entries
When you first display an account which contains departmental entries, all entries are displayed. To display entries for a particular department, click on a department in the list that appears beneath the list of accounts.
To display the entire profit and loss account for an individual department, choose the Display>Profit And Loss Account command and then click on a department on the tabs at the bottom of the window.
You can also display balances by department (with a column for each department) by choosing the Display>Account Balances By List command.
__________________
Shaun
Responses are not meant as a substitute for professional advice. Answers are intended as outline only the advice of a qualified professional with access to all relevant information should be sought before acting on any response given.
I have already down loaded the trial of VT but not had time to play with it. I had scanned the User Guide but found no reference to Job Costs.
More worrying is the fact that try as I might I could not find my way into the VT help facility - perhaps I need to run the programme before I can get into that.
So I popped the question on this forum.
It looks as though the cost centre facility will work as a job cost record. So we will go ahead with a transfer to VT on 31 Mach.
I anticipate being able to export balances from QuickBooks into an Access spread sheet then import that into VT.
