Skip to main content
P
plumbuddy
April 3, 2021
Question

How to show job cost hours for salaried owner

  • April 3, 2021
  • 1 reply
  • 0 views

I own my company and work on jobs. I want to be able to enter my hours so they show up on job cost sheets. I pay myself a salary each month through a journal entry as I pay estimated taxes each quarter. Is there a way to do this?

1 reply

MichelleBh
MichelleBh
April 3, 2021

Hi there, @plumbuddy.

 

I appreciate you for paying your estimated tax each quarter. Yes, there is a way to do this in QuickBooks Desktop. I'm happy to walk you through the complete instructions. 

 

Let's make sure that your job costing feature is turned on. This way, the hours will show up in the job cost sheets. 

 

Here's how to check: 

 

  1. Select the Edit icon on the top menu bar, then Preferences.
  2. Choose Payroll and Employees.
  3. Make sure there is a checkmark in the Job Costing, Class, and Item tracking for paycheck expenses box. 

 

Once confirmed you can now enter the transaction either recording a bill, check, or timesheets. Then, to get a complete job cost picture, ensure to assign all your expenses to jobs. Select the appropriate job in the Customer: Job column. 

 

For the complete steps, visit this link: Tracking job costs in QuickBooks Desktop.

 

After that, the job cost hours for the salaried owner will show up either in the Time by Job Detail or Time by Name Report. 

 

Let me show you how. 

 

  1. Go to the Reports tab on the top right. 
  2. Choose Jobs, Time & Mileage. 
  3. Select either of the two mentioned reports above. 
  4. Click Customize report, then filter the necessary information you want to show in the report. 

 

 

For more details about customizing, visit this article: Customize reports.

 

For future reference, you can check out a customizing customer, job, and sales reports in QuickBooks Desktop.

 

Let me know if you have further questions about job cost hours. I’d be glad to back you up. Take care.

P
plumbuddyAuthor
April 5, 2021

Thank you for your response, this is helpful. My problem is I own the company yet I still work on the jobs. I pay myself through a journal entry since I don't pay workers comp or unemployment insurance on myself. I don't know how to pay myself through QuickBooks. I use assisted payroll for my employees. I use QuickBooks Contractor Pro. Is there a way I can pay myself through Quickbooks other than a journal entry? If so I would be able to track my hours on each job for job costing purposes.

G
GlinetteC
April 5, 2021

Yes, there is, plumbuddy.

 

We'll have to set up and process an owner's draw account. This is an equity account in which QuickBooks Desktop tracks withdrawals of the company's assets to pay an owner.

 

To create an owner's draw account:

 

  1. Go to the Lists menu, select Chart of Accounts.
  2. At the bottom left choose Account > New.
  3. Click Equity > Continue.
  4. Enter the account name (Owner's Draw is recommended) and description.
  5. Click Save & Close.

To write a check from an owner's draw account:

 

  1. Go to Banking and select Write Checks.
  2. In the Write Checks window, go to the Pay to the order of section, select the owner, and enter an amount next to the $ sign.
  3. In the detail area of the check, assign the amount of the check to the equity account you created to record the owner's draws.
  4. Click Save & Close to record the check.

I also recommend seeking expert advice from an accountant to verify if they have other option other than this.

 

That's it! If you have any other questions on paying yourself in QBDT, do add them below. I'm here to help.

Terms & ConditionsAccessibility statement