How to Do Job Costing in QuickBooks Online?
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A company that engages in job costing in QuickBooks Online may wish to track and manage expenses and revenues for certain projects or jobs. Get going by entering a new customer for each job under the Sales menu, entering the customer name that represents the job. When entering any expenses, such as bills and checks, make sure these are assigned to the proper job by choosing the appropriate customer/job from the dropdown list. If your business tracks labor costs, the Time Tracking feature can track all hours worked specifically under a given job while linking each time entry to the project for which it is. After all expenses and income have been recorded, the Job Profitability Summary report can be generated to give an overview of income, expenses, and profit. In this way, a company can track project costs accurately and evaluate project profitability, thereby managing finances better for each job.