Job Costing in QuickBooks Online Series: Part 2
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- čas přidán 6. 08. 2024
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THANK YOU!!!!!
What version of QBO do you need (Essential, Plus, Advanced) for job costing?
is it possible to add a positive +$ like a change order to the project? is there an "additional cost" cell?
I am doing books for a custom home builder who charges cost-plus billing. Virtually all of our expenses are billable with a markup. I understand how to make an expense billable, but I need an added step.
Note: using QBO Plus.
The added step I need is to get each customer invoice onto a ledger (perhaps not the proper term, but think of a spreadsheet) that matches the amount billed to the customer against what is set in a line item budget/estimate. Again, we have about 150 items (individual products and services) in our estimate to match. A custom home building project unfolds over time. Between pricing the job and ordering materials, prices often change.
Said another way: How do we first devise an estimate and then track billable project expenses against the estimate? Unlike a budget, the estimate is not split into months - it’s one figure matched against the expenses that unfold as work is being done.
Let’s say we have multiple expenses under the category of site work. We get a bill from a subcontractor who installed a septic tank. So when we bill the customer, how do we get that charge onto a spreadsheet in a column next to what was estimated for “septic tank installation” under the category of “site work”?
We have to show our customer each month where the project stands compared to the estimate.
I hope I’ve explained my situation clearly?
Thanks for any help.
If im understanding your situation correctly, i do not believe youll be able to do this solely in Quickbooks online. If you would like to brainstorm options to accomplish this, our consulting team would be more than happy to help! you can use the link in the description to set up a free 30 minute consultation.
Terry it sounds like you are trying to show budget vs actual according to the AIA template. QBO obviously will not report on AIA standards. What I’ve done before is to create the line items in QB that mirror the AIA form. Use these for the estimate/budget. Enter expenses using the same items. Then a bva report should match what you would expect on an AIA form. Worst case- use the qb report and manually fill out the aia form.
@@kevinwaycaster Thanks!
I really loved your tutorial please ocntinue to post. I'm a Bookkeeper and your tutorial helps me a lot.
Thank you for your feed back! We will be starting to post again soon! sorry for the delay of posting, I have started studying for the CPA exam, and I have to figure out how to balance this channel and work. I am not very savvy with editing so it takes me a long time to create a video. I will keep you posted but please subscribe because we will be back to posting regularly as soon as possible!
Also, if there is anything specific that you would like us to cover, please comment below and we will create a video for it.
@@hullstone Clean up for small construction firm (series), how to delete billable expenses. I'm new to this niche and your tutorial helps me so much. Looking forward to your next videos on quickbooks. :)
how do you add taxes to the bills from vendor and bill customers?
If I understand what you are asking correctly, you would just out the total amount including tax. Hope this helped!
Why do I need to do Budgets along with Projects?
You do not NEED to. However if you do, it will help you ensure project profitability and track the progress of a projects financials to make sure you are staying within budget.
I love it can you do one on retainage
Thank you! and i added your suggestion to the list! We should start posting videos again soon, however tax season is under way, so may not start posting until after April 15th. Make sure to subscribe and turn on notifications to see when we start posting videos again!