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dajja
December 27, 2019
Question

Project Overview Setting

  • December 27, 2019
  • 4 replies
  • 0 views
I understand the difference between cash and accrual accounting method. I use cash method, and an open invoice won't show on overview tab until it get paid, same thing with the bills I have pending to be paid, therefore the overview is not an exact overview of the project profit, by the time everything shows over here the project is ready to be marked as completed and ready to be closed. The top bar shows open  and overdue invoices on the income line, but the cost don't show open bill to be pay.
It will be more helpful if the overview tab will include all the income and cost transactions in any stage, this will give a better idea of the profit of the job. Using the project report tab we can get all the income and cost transactions, but only if the report is change to accrual view, and this need to be done every time you run the report. Any work around ?

    4 replies

    Fiat Lux - ASIA
    Fiat Lux - ASIA
    December 27, 2019

    The project feature in QB is very limited. Should you need more feature (e.g activity management, milestone tracking, project tracking, progress report), consider using a PM app and integrate it with your QBO.

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    dajjaAuthor
    December 28, 2019

    I am surprised the answer is always the same, are this really people or just a  answer system, not I'll not use any PM, just make an accounting software work like an accounting software.

      Fiat Lux - ASIA
      Fiat Lux - ASIA
      December 28, 2019
      @dajja wrote:

      I am surprised the answer is always the same, are this really people or just a  answer system, not I'll not use any PM, just make an accounting software work like an accounting software.

      which answer is always the same?

      katherinejoyceO
      katherinejoyceO
      June 10, 2020

      Thanks for coming back for more support. @chiaracammarata. I understand the need to have the ability to show milestones that were billed against it so you can see where the project stands in the Project Overview or Budget vs. Actual reports. 

       

      For now, we're unable to create one report with that information. In the meantime, you'll want to pull up Estimates & Progress Invoicing Summary by Customer report. This will show the pending and closed estimates per customer as well as if it's been invoiced. 

       

      For future reference, I've included these articles to learn more about how to use the project feature in QuickBooks Online:

       

      Let me know if you have additional questions. We're always here to be of your service. 

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      dburke1
      June 9, 2021

      I'm new to projects and realized that the Project Overview and reports default to cash basis. This provides inaccurate information regarding project profitability. This should always default to accrual mode regardless of a company's accounting method. I've spent hours of time with customer service, who knows very little about the project feature, trying to locate a specific, permanent setting to allow the Project Overview and reports to default to an accrual basis. I see this initial post is from 2019 - If Quickbooks is listening, please add this customizable feature to save your users time and provide us with accurate "Overview" information.

      A
      AileneA
      June 9, 2021

      You'd got me here, dburke1. 

       

      We can modify your company setting and change from a cash basis to an accrual basis in your accounting method. Please follow the steps below: 

       

      1. Click the Gear icon, then select Account and Settings.
      2. Go to the Advanced tab.
      3. In the Accounting section, tap pencil icon.
      4. Choose the Accounting method, and drop down arrow select Accrual.
      5. Press Save, then Done.

       

        

       

       

       

      Screenshots when I change it to cash basis in Accounting method. 

       

       

       

       

       

      You can use this article for more detailed steps: Change your accounting method. 

       

      I'm always at your side if you still need my help. Stay safe!

      D
      dburke1
      June 9, 2021

      Thank you, Ailene. I know how to change my company setting but that's not the problem nor the solution. The problem is that the job cost report and customer project overview both default to a cash basis - not that I have the company set up on a cash basis for bookkeeping purposes. These are 2 completely different things.

      Jen_D
      Jen_D
      June 9, 2021

      Glad to have you here, @dburke1,

       

      I have set up my account under Accrual Basis and the Project reports displays Accrual for the Accounting Method by default. In the meantime, you can switch the accounting method manually or toggle it in the Account and Settings page.

       

      You can also try this is a private browser. Unexpected issues in QuickBooks are sometimes affected by the amount of data stored in the cache. This is because a regular browser will constantly overwrite itself and will not remove history unless done manually.

       

      Private browsing will not save any history, so it's a great place to identify issues in the browser. Use these keyboard shortcuts to launch a new private window:

       

      • Google Chrome: press Ctrl + Shift + N  
      • Mozilla Firefox: press Ctrl + Shift + P
      • Safari: press Command + Shift + N

       

      If it works, clear the cache to resolve browser issues in QBO. Using a different browser can also help.

       

      If you need additional help with this banking concern, let me know in the comment below. I'll be right here to help you further. Have a good one!

      O
      OnHoldAgain
      August 8, 2023

      I would like to re-up this complaint as it appears Intuit has still not fixed the problem.

      We are a Cash based business. In order for the Projects dashboard to function properly for businesses such as ours, Quickbooks Online should either do one of the following:

      • Show project Income & Costs using Accrual based accounting (or at least allow toggling between Cash and Accrual in this section only)
      • Include an Open Bills box at the top like it currently does for Open Invoices

       

      As the Projects sections exists now for Cash based businesses, it is useless. Earlier responses have suggested changing the accounting method in the business settings in order to solve this problem, but that is obviously impractical and not a reasonable solution.

       

        S
        SirielJeaB
        August 9, 2023

        Hi there, OnHoldAgain! Thanks for joining the thread. We hear your sentiments and understand that there are specific activities you want to have within your program.

         

        When using the Cash accounting method, you record income and expenses at the time you actually receive a payment or pay a bill. On the other hand, the Accrual accounting method is when you record income and expenses when you send the invoice or receive the bill.

         

        The options you want to perform in the Projects section are not available in QuickBooks Online. We would be glad if you could send feature requests to our software engineers so they may include them in future product enhancements. 

         

        To send feedback:

         

        1. Click the Gear icon, then select Feedback.
        2. Type in your feature request.
        3. Click Next to submit.

         

        You'll want to read these articles to learn more about the accounting method and how to handle projects moving forward:

         

         

        Please don't hesitate to drop by again if you need assistance with any QuickBooks-related concerns. We're available 24/7 to help you. Keep safe!

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