QuickBooks

What QuickBooks Online Can Do For Project Tracking and Job Costing

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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 six versions of QuickBooks:

  • QuickBooks for Mac
  • QuickBooks Enterprise
  • QuickBooks Premier
  • QuickBooks Pro
  • QuickBooks Self-Employed
  • 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

Additional features:

  • 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.

Cost

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

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.

Job Costing

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, we have the perfect solution. We’ll be happy to fill you in on something called Acumatica.

https://quickbooks.intuit.com/partners/irp/qbo/?cid=irp-1614

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About Marjorie Adams

Our head QuickBooks trainer and guru, Marjorie Adams, is Founder and CEO of Fourlane, Inc., an award-winning consulting firm and Intuit’s #1 QuickBooks Reseller Partner. Fourlane’s team of experts offers several QuickBooks oriented services including consulting, training, programming, integration, and more. Over the years, Fourlane has helped over 10,000 customers across many different industries with their QuickBooks accounting software. Marjorie Adams is considered one of the top QuickBooks trainers in the country. She was listed on CPA Practice Advisor’s 40 Under 40 in 2014 & 2015, and has been recognized as Intuitive Accountant’s 2015 QuickBooks Desktop ProAdvisor of the Year. Marjorie sits on Intuit’s VIP Program, is a frequent contributor to Inuit Accountants News Central, and has developed Intuit’s QuickBooks Enterprise Certification training. She has also been published in The Wall Street Journal, Forbes, BusinessWeek, American Express Open, the Huffington Post, and Inc. Magazine.

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