I was just talking about job cost reporting in QuickBooks with a client, and wanted to get the post out in case you have this happen.
Many companies, especially those in manufacturing and construction, use job costing to track profitability. In QuickBooks Desktop you’ve always had to link transactions to the ITEM level in order to get accurate reporting. Take the Estimates vs. Actual report. If you apply an estimate to the Item level (only option), then try to apply the related expense to the account level, it won’t match. You need to set the expense to the item for it to apply correctly.
In QuickBooks Online, you link transactions to the account, and income will also link to the account. You have to enable Projects to get the job costing to work well, but once you do you can see profit margin and other handy info. It does make account naming on your CoA a little trickier, depending on what you want the account to say.
If you have any questions, let me know. I may talk about this during our FB live tomorrow!
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