By Ken Boyd –
If you can’t identify and accurately estimate all of your project costs, how can you determine the profitability of the job? It’s simple, you can’t.
Business owners who conduct business on a project or job basis may have a difficult time tracking each individual cost associated with each individual job. However, owners who cannot track total project costs accurately may find themselves taking on work that is not profitable or pricing their work too low. The solution lies in accurate job costing. Estimating the total cost of a job can be easier said than done. We've got a few tips to help you manage and track your job costs for more accurate estimates. Click To Tweet But first, let’s take a look at the difference between job costing and process costing. (more…)