Businesses such as contractors and service companies typically operate on a per project or per job basis. Advanced job costing will boost revenues by identifying exactly how much profit was made on each project or job. Job costing can help identify areas of improvement in bidding and pricing, such as comparing the estimate provided to the customer to what it actually cost the business to do the project.
Advanced job costing can easily produce reports that break down costs like labor and materials into details that include payroll taxes and material quantities.