job cost reporting

Why regular job cost reporting is important for agencies

Agency operations can be tricky to manage, with client demands increasing and agencies expected to be doing “more with less”. In this balancing act, the critical task that ensures agencies stay on top of projects is regular job cost reporting.  

Job cost reporting is the heartbeat of effective financial management within agencies. It safeguards the accuracy of resource allocation and billing processes, helping agencies focus on delivering outstanding service to clients.  

Why is regular job cost reporting vital for agency profitability? 

Most agency management systems like Deltek Workbook feature detailed job cost reports. Running these reports regularly empowers account management teams to identify overruns, mitigate scope creep, and reduce instances of over-servicing. 

Now more than ever, agencies can’t afford for staff to be working for free. Monitoring the costs of jobs regularly will help prevent such scenarios. Alternatively, for agencies committed to investing in key clients, tracking and measuring these investments is important, replacing the outdated practice of merely over-delivering. 

What are the pitfalls of running job cost reporting at the end of a job? 

Waiting until the end of a job to run cost reports is akin to navigating in the dark. By then, it’s too late to rein in any scope creep or over-servicing, inevitably compromising the profitability of the entire project. 

How agencies can improve project health visibility  

A good idea is to run job cost reports in weekly WIP meetings. This approach allows for real-time discussions about project progress and tracking.  

Running these reports regularly makes it easier to spot if time and expenses haven’t been added to the job correctly. This proactive approach means if POs have not been raised or some team members haven’t time sheeted properly, errors can be caught weekly before they impact the profitability of a job.  

Let’s take a closer look at job cost reporting works in Deltek WorkBook 

Deltek WorkBook – Job Cost Reporting

Deltek WorkBook also has a few ways to monitor jobs costs. Two of our favourite views are the Jobs List and the Job Costs tab.

WorkBook’s job list views are customisable with a modify grid feature. Have your list set up correctly and you’ll be able to compare the estimate total with time and expenses recorded. Immediately you can see if your job is on target or if you’re over-servicing.   

The job cost summary is broken down by activity and gives key financials on a job. This view can also be used to check progress through the life of the job. It shows all the expenses on a job so you can compare it to the schedule, approved estimate & invoice. 

Watch our video to see how job cost reporting is done in WorkBook.

 

Scroll to Top

WANT TO TAKE A LOOK?

GET IN TOUCH HERE...

...OR, DROP US A LINE.

APAC

Helen Johnson 
helen@bytangram.com
+61 404 458 797

EU

Christian Arpe-Hansen
cah@bytangram.com
+45 31 36 66 03