It’s just as important to add expenses to a job as it is to record time spent on a job. Expenses can be anything from purchases from a supplier, to colour print outs for your client. Capturing these expenses ensures you know the true cost of a job.
Most companies capture big expenses like printing, photography, talent – pretty much anything purchased from a supplier – by creating a Purchase Order against a job. However it’s the small items like couriers, taxis, CDs, DVDs, colour print outs etc, that people forget to included on a job. The odd colour print out here or there might not seem like much but if you think about the expense of maintaining your printer, buying toner etc, the costs soon add up. Couriers are another expense that is part of day to day business, and they’re also easy to capture. If you use your job number as a reference when ordering the courier, when the courier bill comes in you can then add those couriers onto the job.
Even if you feel you can’t pass these expenses onto your client, it’s good practice to record the expenses anyway. By recording all expenses on a job you’ll get a clearer picture of your job’s true profitability.
For more information on how to capture expenses in Streamtime please refer to the article on capturing expenses in our Knowledge Base.
Cropped photo from original by mwanasimba and used under Creative Commons license.
