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Job Cost Report (WIP) (KAST)

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I.Use the following keystrokes to print out a Job Cost Report (WIP) from Timberline.logo-kastbuild-SMALL.png
  • Log-in to Timberline
  • Click “Reports”
  • Click “WIP 2”

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  • Click “JC Transaction (current) and (new)” and “OK”

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  • Click “Ranges”

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  • Select the specific Job #
  • Click Job #
  • The job number is highlighted

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  • Click “OK”
  • Click “Print Preview”
  • Result:  Job Cost Report (WIP)
  • From the Print Preview screen you can print hard copy or to a PDF

 

  • The following is a brief description of the financial information contained in the Job Cost Report (WIP):

Original Estimate [A]

This column reflects the original budget established by the Project Manager and Project Executive and entered in to Timberline by Accounting

Change Order [B]

This column indicates executed Owner Change Orders (OCO’s) that increase or decrease the contract value.  The Project Manager is responsible for verifying that OCO’s are entered to the proper cost codes.

Budget Revision [C]

This column reflects all budget revisions that have been prepared by the Project Manager (zero dollar impact on the contract value).  During the execution of the Project, budget revisions will be required to reflect the actual manner in which the work is being performed and contracted.  All Contingency Transfers are also reflected in this column.

Total Estimate [D]

This column reflects the sum total of the Original Estimate, Change Orders and Budget Revision (A + B + C = D).  The Project Manager is responsible for ensuring that the Grand Total of this column always matches the current Contract Amount. 

 

Original Commitment [E]

This column reflects the amount of the base Subcontract Agreement or Purchase Order as awarded by the Project Manager.  This amount is entered by Accounting upon issuance of the Letter of Intent or receipt of the executed Subcontract if an LOI is not issued.

Commitment Changes [F]

This column reflects all executed Commitment Changes (Subcontractor Change Orders / Extra Orders)

Total Committed [G]

This column is the sum total of the Original Commitment and Commitment Changes (E + F = G)

Remaining to Commit [H]

This column reflects the difference between the Total Estimate and the Total Committed (D – G = H).  In other words, this is the buyout savings prior to a Contingency Transfer.  In Divisions 2-16, Project Managers should try to keep the Remaining to Commit at $0.  If these funds will be spent in the future on additional scope, the Project Manager will reflect this in the Cost to Complete report and provide a supporting narrative (see Section V).  Since the formula to derive the Remaining to Commit amount is based on Commitments and Commitments are not entered for staff, do not use this column to analyze labor variances in Division 1 (General Conditions), see Budget Variance description below.

JTD Costs [I]

This column denotes actual cost posted to the Project

Budget Variance [J]

This column reflects the difference between the Total Estimate and the JTD Costs (D – I = J).  This column is key for analyzing variances within Division 1 (General Conditions).  In Divisions 2-16, if your budget matches your committed amount, this variance will tell you how much you have left to pay a Subcontractor for that particular line item.