job costing in QBO

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#1
juro  
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Anyone here do it?

using the Projects feature is new to me. The QB Pro Desktop did not have it.

also, client has lumped expenses together from cc stmts. charges from vendors were never inputted as itemized bills.

How can i do job costing with this mess?

when i create a custom report, & i use the customer column, the project info does not appear. :?:
 

#2
juro  
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Why would a contractor ever use an asset account like Construction Work-in-Progress?
My client is invoicing its own clients, and Construction Work-in-Progress is being debited
instead of revenue.

https://www.accountingcoach.com/blog/construction-work-in-progress
 

#3
juro  
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My client has billed a related entity, which is owned 100% by my client, and recorded revenue.
The related entity has recorded an expense for the invoice.

But to me, this is a simple transfer of cash, and no revenue or expense should be involved.
 

#4
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1. I had a client use QBO but the job costing function was too poor so they switched to desktop. So, I can't really talk too much about it.

2. In QB programs, I have used a WIP account to properly report revenues and expenses. However, that was always a manual adjustment made by a qualified accountant (i.e. me) rather than the client.

3. If one entity does work for the other entity, why wouldn't there be income and expenses recorded? Sounds like you need to know the nature of the transaction from the client.
 

#5
juro  
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missingdonut wrote:3. If one entity does work for the other entity, why wouldn't there be income and expenses recorded? Sounds like you need to know the nature of the transaction from the client.


one entity pays all payroll, including that of the related entity.

The actual payroll expense is much different.
 


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