Job Costing in QuickBooks Online (QBO) with the NEW Projects Feature – QB Power Hour
In this QB Power Hour, we discussed job costing in QuickBooks Online with the new Projects feature. NOTE: You must have QBO PLUS to do the job costing and there are some limitations (i.e. no labor / payroll allocations except for manually and no progress invoicing). Specifically we discussed:
–setting up for job costing including setting up 2 sided (aka double-sided) items
— set up a budget for the customer / project (if desired)
— enter transactions for the costs (expenses, checks or bills), assigning them to a customer / project and marking it billable or not. (also mentioned entering expense with the QBO mobile app)
— create the invoice or sales receipt
— use the Projects center to quickly see reports — transaction list, profitability, unbilled time / expenses and non billable too.
— customize other reports — profitability by item, budget vs. actual
Plus, an Intuit project manager joined us to discuss the new projects feature to help keep the transactions and reports together in one location for easier use and access.
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In this QB Power Hour, we discussed job costing in QuickBooks Online with the new Projects feature. NOTE: You must have QBO PLUS to do the job costing and there are some limitations (i.e. no labor / payroll allocations except for manually and no progress invoicing). Specifically we discussed:
–setting up for job costing including setting up 2 sided (aka double-sided) items
— set up a budget for the customer / project (if desired)
— enter transactions for the costs (expenses, checks or bills), assigning them to a customer / project and marking it billable or not. (also mentioned entering expense with the QBO mobile app)
— create the invoice or sales receipt
— use the Projects center to quickly see reports — transaction list, profitability, unbilled time / expenses and non billable too.
— customize other reports — profitability by item, budget vs. actual
Plus, an Intuit project manager joined us to discuss the new projects feature to help keep the transactions and reports together in one location for easier use and access.
source
QuickBooks,QuickBooks Online,QBO,Intuit,Job Costing,QB Power Hour
11 Comments
George Papanastasiou
January 13, 2023 - 9:35 amCan the budget feature be used independent of fiscal year? For example a project that starts October 1 and goes through till April of the following year?
Massey and Company CPA
January 13, 2023 - 9:35 amIs it possible to assign a cost in QBO projects to time recorded in T Sheets for vendor/contractors and imported into QBO? I only see an option to record job costing in Projects for QBO payroll.
D. Shannon
January 13, 2023 - 9:35 amHey…I think the original video was HECTOR, too! He earlier said they were not the same, but different. He's contradicting himself.
D. Shannon
January 13, 2023 - 9:35 amat 46:00 mins the guy chimes in and says that the projects is same as sub-customer….but I just saw a video where the guy warned that they are DIFFERENT and must be entered separately (being careful to change name slightly). UGH. I'm ready to create a construction company, already have undeposited funds, but can't decide project vs subcustomer.
Rod Avoye
January 13, 2023 - 9:35 am11:20 to skip intros and sponsers.
al7osni 911
January 13, 2023 - 9:35 amAm out said the US , I find only a number to contact them in there website .. do you have email ? sorry for bothering you but I need that urgent
Cameron Billingsley
January 13, 2023 - 9:35 am*Just as an update* Projects can now be activated under the gear, then "account and settings", then selecting the advanced options and turning on projects. 9/4/18
luvjoisey
January 13, 2023 - 9:35 amAny way to get an estimated to actual expense report by item? As a contractor, this is vital to keeping track of my costs.
janet o
January 13, 2023 - 9:35 amThis is great – thank you for this video
Elena Iglesias
January 13, 2023 - 9:35 amThank you for this video. Can I transfer my QB data from my desktop 2014?
Teddy Ramos
January 13, 2023 - 9:35 amThank you so much for this video, I just have a potential client who asks me if constructions using project costing can be done in QBO.
Comments are closed.