This easy-to-use job cost tracking template has been created by BuildBook as a simple way for contractors, home builders, and remodelers to quickly create and maintain a list of cost categories, cost codes, and an itemized cost library.
Easily build a master cost library with fill-in-the-blank input sections that can be used for project estimates, budgets, and improved accounting. Simple to share or export for syncing your costs with your team or other tools.
This template has everything you need and is provided free of charge, and can be used without restrictions in Excel or Google Sheets.
This job costing template has been created by BuildBook with everything you need to reduce the time it takes to create and manage cost categories, cost codes, and a cost library for your construction business ... and it's completely free!
Define your own list cost categories by name and number or use the ones already in place.
Create a list of cost codes and assign each a cost category from the down-down list.
Add individual costs, assign a code and define the quantity, unit costs, markup, and more.
Job costing is a process or method of accounting designed to help contractors track and analyze job costs before, during, and after each construction project. The process is designed to provide greater clarity and improve the financial health of construction projects and companies.
Job costing is comprised of three basic components: Cost Categories, Cost Codes, and a Cost Library. Each of these components play an important role in achieving success with this process.
As mentioned above, cost codes in construction are just one of the components within the job costing process.
A cost code is essentially a standardized format for defining a specific cost. The code is defined by both a name and a numeric classification, with its numbers aligning with the cost category it is assigned to.
As an example, 03-001 - General Labor might be used to classify the cost of the crews time to pour a slab of concrete. 03 represents the Concrete cost category, and 001 represents the cost for general labor within this category.
See the image below for additional examples of cost codes as used in BuildBook.
The final component of job costing is a cost library, which is basically your menu of individual costs, each assigned to the cost codes you've created - these are your cost code items. Each item consists of the following:
Clarification on this individual cost. For example, Construction Permit - Per $1000
The specific category and cost this item is assigned to.
What type of cost is this item? Flat fee, materials, labor, etc.
Defining the standard quantity of how this item is priced. If it's labor for example, you may assign a specific quantity of hours.
What is the way the quantity of this item is measured? Per hour, square feet, each, etc.
Definition of the cost per unit of measurement for this item. For example $20 per hour.
What percentage of markup does this item include, if any.
If tax is appropriate, what is the percentage should be charged for this item.
While utilizing our job costing template is great way to get started, job costing software will make the process much faster and more effective at managing your costs across your estimates and project budgets.
BuildBook has created simple-to-use tools for creating and managing your cost codes that integrates across your other project functions, allowing you to track costs while they are occurring, leading to less costly mistakes and more profit.
With a 10-day free trial, you can compare the difference for yourself without risking a penny.