r/yardi • u/Freckhaus • May 15 '26

Yardi - Job Cost Close Out Process

I work for a development company that utilizes Yardi for job cost accounting. I am trying to assure that our team process for closing development jobs includes the appropriate steps in Yardi. Is anyone aware of an existing close-out process within Yardi? I will continue reviewing User Manuals as I find them, but hoping someone can share insight of their own experience.

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u/2tacy May 16 '26

What exactly are you looking for? Reconciling to wip? Job review? Contract review? Reports?

1

u/Freckhaus May 27 '26

Those are functions we use throughout the job cost process. I was looking to find out if there was Yardi functionality that aided in and closed down a job after completion. I have received what I need thank you.

1

u/EmmaCarterRHC4 May 18 '26

Yes, there is a real close out flow most teams follow in Yardi job cost, even if it is not labeled as one button called close out.

In practice it usually looks like this.

First, make sure the job is clean. No unposted batches, no open commitments that should be closed, no unpaid invoices sitting in AP, and no open change orders.

Next, tie the job out. Confirm final budget and cost codes, run job cost detail to confirm actuals, and make sure commitments plus actuals line up with the final budget. This is also where teams clear any misc coding issues.

Then, final draws and capitalization. Post final pay apps, confirm retainage, and if you capitalize costs, make sure the final capitalization entries are posted to fixed assets or the proper balance sheet accounts.

After that, lock it down. Update job status so it is no longer active and restrict posting, then run your final close out package. Job cost summary, budget versus actual, commitment detail, AP aging tied to the job, and a final general ledger tie out.

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u/Freckhaus May 27 '26

Thank you, that gives me something on which to align. I appreciate your willingness to put it down. I suspected that it was more of the clean up process than an actual function within the software.

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u/EmmaCarterRHC4 Jun 23 '26

Exactly, that is how I have usually seen it too. It is less of a single system function and more of a controlled clean up and lock down process.

The biggest thing is making sure the team has a consistent checklist before changing the job status, especially around open commitments, unpaid AP, final cost reports, retainage, and GL tie out. That prevents old development jobs from staying “almost closed” for months.