Our company is an oil field service company. We need the ability to look a each job we do, compare it to what our bid was for the job and look at final profitability. On each job, we have employee time and bonus, some materials that are used, equipment (owned and sometimes rented) and other cost such as travel. We currently do not use Nav native inventory functionality for materials.
The VAR we are using has suggested some custom tables to hold standard cost and not run the standard cost to GL. Not sure I am on board with that. Does anyone have any suggestions?
Thanks.
Tom
R u sing Job & Resources module of NAV ?
Using resources, not using jobs currently
Hi Tom,
I work within the Oilfield services industry, utilising NAV for project accounting. I would strongly suggest you have a good look at the Jobs granule(s) for NAV, it will enable you to assign tasks against a job (Mob/Demob, travel etc) and assign costs to these.
Kind regards
Tim
Thanks for the input.
What hits the GL? In discussions with our consultant, he made mention of reconciling the cost module to the GL. I have not done standard cost in some time but I thought you would use the old variance accounts.
Tom
Hi Tom,
everything you expect hits the GL… Jobs also have their own ledger (as does resource).
I’m not an accountant, but I am curious as to why you’d need a standard cost model within an oilfield services environment. I’ve worked with many OFS related companies and none of them use that model.
All the best,
Tim
I am open to suggestions. I have only been here a little over a year and am looking for the best way to approach job costing.
A little company background. Company started 3 years ago. Operations oriented approach. Not using inventory and no desire to do so by management. Using hand written time sheets to track employee time. Very little automation throughout the company. That said, I am struggling as to how to implement a costing methodology.
Suggestions?
Tom