QuickBooks Online Plus/Advanced optimizes data entry workflows because it is electronically connected to credit cards and banks. As accounting software goes, it is indispensable to many business owners.
Depending on the business you’re in, QuickBooks offers a handful of variations. Currently, there are 4 versions of QuickBooks:
- QuickBooks Enterprise
- QuickBooks Premier
- QuickBooks Pro
- QuickBooks Online
Each one assists business owners in managing their finances and accounting.
What Can QuickBooks Online Advanced/Plus Do With Project Tracking/Job Costing?
The following are features of QuickBooks Online Advanced/Plus:
- For a specific project, generate an estimate time cost by vendor or employee
- For a specific project, generate an unbilled time and expenses report
- For a specific project, generate a time activity report
- For specific project, generate a transactions list report
- To a vendor, assign an estimated hourly cost and billable rate
- Add notes to a project
- By project, produce a profit and loss report
- Assign expense transactions to a particular project, sub customer, or customer (i.e., for credit/debit card transactions, expenses, checks, bills, etc.)
- So that they can be filtered, toggle projects as canceled/completed/in progress
- Create projects belonging to a sub customer or customer
- The following only works if you’re not running payroll with QuickBooks – Assign a fully burdened cost rate to each employee: i.e., overhead, workers’ comp, employer taxes, wages. These are trackable to estimate project labor costs using timesheets.
- Assign expense transactions like expenses, checks, and bills (such as credit/debit card transactions) to a project, sub customer, and/or customer.
Please keep in mind that costs can vary. These are current estimates:
QuickBooks Online offers Plus, Essentials, and Simple Start:
- Plus – approximately $40 a month
- Essentials – approximately $30 per month
- Simple Start – approximately $15 per month
Features included in QuickBooks Online’s basic package are also included in Plus and Essentials features. Also, features in the Essentials package are included in Plus. Here are some differences:
- Plus allows up to five users while Essentials allows only three.
- The ability to track inventory is added to Plus, but not available in Essentials. For those who sell products, that’s a powerful tool. Plus also allows project profitability tracking.
Working a lot like job costing, QBO (QuickBooks Online) Advanced and Plus have a feature referred to as Projects. It allows for transaction organization related to a particular job. The progress of the job can be tracked with this feature.
Get All Your Questions Answered In One Easy-To-Use Location
Do you still have questions or concerns about QuickBooks Online? Maybe another one of QuickBooks’ versions would suit you and your business more appropriately. For answers to your questions, and for tips, suggestions, and more, contact us today at Fourlane.
Our team of certified QuickBooks experts make us one of the most trusted business advisors available. Across numerous trades and industries, we have thousands of successful QuickBooks implementations.
Perhaps QuickBooks isn’t what you need! If your business has risen above and beyond the features offered by QuickBooks, then we recommend moving to an ERP system.