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How Fresh is Your Job Costs Reports?

Having the answers when you need them is critical to operating efficiently. If the data is old and missing information then the report is worthless. Two culprits that keep the data stale are below. If we correct these then a fresh report will have value and can help in correcting any off course jobs before they crash.

1. Unpaid Weekly Employee Hours – Look for a solution in your accounting program to post transactions daily. If your accounting program will accommodate posting the hours daily then start collecting them from the field and posting daily. Look for ways to provide daily reports via email or the cloud to the field management for review and discuss if corrections are needed.

2. Purchase Orders – If you are not using a PO system then start! Purchase Orders can be clumsy if not done correctly. The rule of thumb is to start simple. Have field employees simply call office and record any purchases they are making by the following;

Date
Vendor Name
Items Description and Amounts
Total Amount

Look at your accounting system to streamline the process and get the total amounts for PO’s by job included in the daily reports you are emailing or providing to the field. Establishing a minimum amount required for a PO number is recommended. A good starting point is $500-1,000 dollars.

If you can successfully implement the two culpits that are keeping the data from being fresh and accurate then you will increase TRUST in the reports and intelligent decisions can be made from them.

Please share your comments or ideas.

Lee Clark
Lee Clark

As the CEO and co-founder of PayCrew, Lee Clark is passionate about the people in the field, because he understands the importance of trust between a company and its people. As a construction business owner, he saw first-hand how attracting and retaining skilled people form the foundation of a company’s success.

Lee has a passion for measuring daily performance in the construction industry and is also a regular contributor at Concrete Construction.