Understanding Cost Accounts

Each cost account (object account) represents a type of cost. When you review costs by cost account, you get a financial perspective of business costs. For example, you can set up individual cost accounts for labor, parts, and materials. When you review shop costs by cost account, you see the total of each type of cost for a shop or a business unit.

You can display all shop costs, and you can review cost account balances for costs, such as labor, parts, and material, for an entire shop. You can compare actual amounts with budget amounts or amounts for any other two ledger types. Additionally, you can review account ledger information for individual accounts.