Adjust Salaried Job Costing
Use the Adjust Salaried Job Costing (ASJC) feature to create an adjusted hourly job cost rate for each salaried employee for each pay period (timesheet posting).
The adjusted hourly job cost rate represents the actual (true) cost of a salaried employee's labor. When you run ASJC, actual job costing amounts are calculated for salaried employees for each pay period based on the actual hours that salaried employees work during the pay period and their salaried job cost rate. The new (adjusted) job cost rate is then reflected on project reports and the timesheet posting log.
ASJC is typically used for government work or other work where you are required to report job costing at actual rates rather than at standard rates.
When you do not use the ASJC feature, the labor charged to a project for a salaried employee may exceed the amount actually paid to an employee because salaried employees do not get paid overtime; they get paid the same amount regardless of whether they work more or less than 40 hours per week.
When you run the Adjust Salaried Job Costing routine, you must select all the timesheet postings on the Adjust Salaried Job Costing form that correspond with the job cost frequency that you set up on the Timesheet tab of . For example, if your job cost frequency is biweekly (every two weeks) and your timesheets are weekly, you must select all the timesheets that make up the two-week period. The Comment column on the Adjust Salaried Job Costing form displays the period end date for a timesheet posting.
Example: If your job cost frequency is biweekly and timesheets are weekly, to run the Adjust Salaried Job Costing routine for January 1 – 14, 2017, select all the timesheet postings with a period end date of January 7, 2017 and January 14, 2017.