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Job costing, also known as labor cost allocation is an incredibly important financial reporting tool that a lot of businesses don’t utilize. When you run job costing reports, you look to see which clients, projects, employees, and services are the most profitable.
This type of insight allows a business to track their current operations, identify opportunities for growth, and increase their profitability.
If you aren’t currently job costing, GrowthForce president and CEO Stephen King offers three reasons why it might be a good idea. You can read his piece HERE.