Job Costing in QuickBooks Online Series: Part 1

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[candicemartinez]

I'm glad I found this video! You explained it well. Thank you for your help!

[AceCPAsBookkeeping]

TLDR: QuickBooks Online's new project module allows small businesses to track job profitability, manage projects, and refine estimates to focus on generating more revenue.

00:00 📊 Mike from Mack Financial Group is starting a YouTube series on job costing for small businesses, focusing on the new project module in QuickBooks Online for tracking job profitability in construction and landscaping.
01:40 🔧 Enable project tracking in QuickBooks Online by going to account settings, turning on the project feature, and accessing the project section in the navigation bar to view a list of all your projects.
02:35 📊 Filter and convert project details, adjust cost rates, and send estimates before creating a project in QuickBooks Online, then create and send an estimate to a potential customer and proceed with the work once accepted.
04:40 📊 Utilize QuickBooks Online to create and manage projects, track income, expenses, and profit/loss in real time, and generate detailed transaction and project reports.
06:33 📊 Create and send an invoice with correct rates and services to show project income in QuickBooks Online.
08:45 💡 Assign expenses to a project in QuickBooks Online by creating an expense, choosing the payee, and selecting the customer project section.
10:29 💡 Job costing in QuickBooks Online helps businesses track costs and profits, refine estimates, and focus on areas that generate more revenue.
11:51 👍 Filter completed projects in QuickBooks Online, more detailed tutorials on budgeting and time tracking coming up.

[abigailjackson]

Thank you!!! I just started as a project manager for a pool construction company, and they *kind of* keep track of their projects in QB. I'm not an accountant, but after I get done watching all your videos, I think I could pretty much do that too lol

[selinaperez]

I know you made this video a year ago but thank you for putting this series together. I really needed this breakdown. Keep making videos like this.

[knovlconstructiontrafficco]

Thanks. Qb is frustrating because different releases place things in different places, and your accounting version is different from my company user version. For instance projects is not on left banner like yours, but under business overview. And another example of the hodge podge of drop downs is that the sales funnel is under customers and leads, not sales. Oy Vey. Not your fault, but just thought you and folks should know.
Thanks again. helpful vid for a contractor like myself. Now...I can be abetter manager for my bookkepper.

[MattManning-pw]

Hey, can you have the labour in the reports? How would I take something like caulking (we stock as inventory) out of inventory to add as an expense to the project?

[jamescrozier]

Thank you for the very informative videos. I use projects for a lot of my jobs, but can't figure out the proper way to record customer deposits when using progress invoicing. I have read about creating a current liability account.

[LisaClaindoux]

We are a construction company looking for more Job Costing capabilities. We need labor/payroll hours to be included in these costs. What version do you recommend Plus or Advanced? Also, is this only available on online versions and not desktop? Thank you for your videos!

[shawnesehenry]

Hi Mike! Thank you so much for these videos!!! I have a client who takes on projects that consist of cost codes, however, I’m not sure how to setup them up in QBO. Would you happen to know how?

[darleneralls]

I am new to projects and my overview tab is missing ! Do you know what i have to do to get it to show up so we can see our information

[riamayjimenez]

hi. can we assign like a job order number to the project. thanks

[joshuahiatt]

What is the proper way to apply overhead costs to various projects?

[masseyandcompanycpa]

I am trying to use Projects in conjunction with T Sheets. However, I cannot get the time entered by TSheets to appear in Projects. My goal is to have a report that shows a P&L by Client or Project, including the cost of time. Any suggestions?

[NicksProjectz]

What if my quickbooks online doesn’t show a project tab so I can turn it on?

[valeriemartini]

Why did you quit doing videos? Thank you 🙏

[milkzaccounting]

we got a refund from home depot on a project and it was entered as a deposit against the correct COGS expense. I am having a hard time finding where I can input the project in order to associate it with this QBO deposit though.

[alain.adagenais]

I do not have the line project on my inline Quickbook ? is that a different subscription?

[yekrallum]

Hi, can inventory be assigned to a project as a cost?

[ricardogomez]

Hi. After creating the project, how can I assign the different costs from my linked checking acct?

[lynetteha]

At 8'55, you show how to assign expenses to a project but instead of listing out each expense, how to tie a PO to the job/project ? Thanks