QuickBooks is excellent and robust accounting software designed for small and medium-sized businesses. QuickBooks Desktop allows you to easily set up job-costing and item tracking for payroll expenses.
Job costing is an accounting term and this process involves tracking job expenses and then comparing expenses to the revenue you have generated. QB’s job costing tools enable you to know how much money is being spent and made for a job.
This article will show you how you can set up job costing in QuickBooks. When as a QB user, you will set up preferences, QB will automatically track expenses by job for company payroll expenses.
QuickBooks displays a checkbox when a user creates or edits payroll items that can be classed under the following – additions, deductions or company contributions. Follow the steps given below to track expenses by the job –
You have to note that placing a checkmark against Track Expenses by Job would not add a column with the name Customer: Job to the payroll items that are listed under Other Payroll Items on a paycheque. Also, when you turn on Track Expenses by Job, existing transactions would not be affected.
If you are not able to set up job costing in QuickBooks by following above given steps, immediately call our QuickBooks Support Number 1-877-221-952O.