Cost Transfers

Use Cost Transfers to move job costs from one account to another, from one cost category to another, or from one cost location to another.

HINT-- The Goldenseal accounting software includes Cost Transfers so you can handle any type of unusual situation in job costing that can't be handled some other way.

COST TRANSFER BASICS
When to Use | Entering Cost Transfers | Data Fields | Breakdowns | Using Cost Transfers

Website Info Links
Accounting Software | Bookkeeping Software | Job Costing Software

When to Use Cost Transfers

Enter a Cost Transfer whenever you need to adjust job costs. You may need to do that in the following cases:

To enter prior job costs, from before you started using Goldenseal.
To correct a mistake in an expense transaction that has already been posted.
To account for work done on one job that really should be costed to another.

Entering Cost Transfers

Cost TransfersTo enter a Cost Transfer, follow these steps:

Choose Special Transfers from the Bank menu, then choose Cost Transfers from the submenu.
Click the New button, or click on an existing item and click the Edit button.
Enter details for the transfer.

Data Fields

Enter the following information for each Cost Transfer:

Transfer Type-- Choose the type of cost transfer.
Brief Description-- Enter a brief description for the transfer.
Amount-- Choose the amount that is being transferred. Choose Transfer to move costs from one job to another.
Cost Type-- Choose the basic type of cost that you are moving.
Job Type-- Choose the type of account from which job costs will be taken.
Job-- Choose the job account from which job costs will be taken.
NOTE-- If you are entering prior costs, none of the "move from" fields are needed.
Category-- Enter the cost category from which job costs will be taken.
Subcategory-- Enter the cost subcategory from which job costs will be taken.
Location-- Enter the location from which job costs will be taken.
Comments-- Add any comments you have about this transaction.

Date-- Enter the date of the transfer.
Record Number-- A record number is entered automatically.
New Cost Type-- Choose the type of cost to add in the destination.
New Job Type-- Choose the type of account to which the job costs will be moved.
New Job-- Choose the job account to which the job costs will be moved.
New Category-- Enter the cost category to which the job costs will be moved.
New Subcategory-- Enter the cost subcategory to which the job costs will be moved.
New Location-- Enter the location to which the job costs will be moved.

Transfer Types

Enter either of the following transfer types:

Prior Costs-- To enter job costs from before when you started using Goldenseal.
HINT-- You can also enter prior costs by entering Material Purchases and other expense transactions with Job Cost Only as a status.
Transfer-- To transfer a job cost from one job to another, or from one category to another.

Cost Transfer Breakdowns

To include several cost categories in a cost transfer, click on the breakdown popup at the left side of the window and choose either Category or Items.

Use a Category breakdown if you just want to type in a description of each cost item you are transferring.
Use an Item breakdown to list specific Assemblies or Cost Items .

Using Cost Transfers

You can use Cost Transfers to set up approximate or exact job costs for jobs that were started before you started a company file.
HINT-- You can also enter prior costs by entering Material Purchases and other expense transactions with Job Cost Only as a status.

Also use cost transfers whenever you want to move a job cost from one place to another, if you are unable to change the original transaction, or if you want to explain why the shift has occurred.