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gdj09
January 11, 2024
Question

Time costs showing up twice in a project

  • January 11, 2024
  • 1 reply
  • 0 views

I use the Weekly Timesheets to record hours each employee works on a project.

Regular pay setting is linked to COGS: Cost of Labor for each project.

My problem is: when I go into a specific project's Income v. expense section, each employee's time cost is showing up under HOURLY TIME COST and COST OF GOODS SOLD. This is creating a double expense for that project which makes the profit appear lower than it should be. The HOURLY TIME COST includes taxes whereas COGS does not.

How do I make the COGS: Cost of Labor line disappear from the Project Expense for each project??

1 reply

M
Mark_AG
January 11, 2024

I understand the importance of recording time costs properly on a project, @gdj09. Rest assured, I'm here to help you handle this so it won't have to show duplicate expenses.

 

These are the different factors to consider if you're experiencing duplicate expenses on a project: 

 

  • Ensure you use the correct hourly labor cost view type for your projects. You can switch between viewing payroll expenses or hourly costs by going to the project and selecting the Payroll Expenses or Hourly Costs in the Employee Rate dropdown.
  • Review your Project Expenses and Hourly Cost Rate. This can help you understand the source of the issue and make necessary adjustments.
  • Review and correct your Regular Pay setting account to ensure the expenses won't be reflected in the Cost of Goods Sold.

 

Furthermore, you can also learn how to track billable time by job to help you track time costs in your projects efficiently.

 

Please keep us updated with your concern about recording time costs properly on a project in QuickBooks Online. I'm always here to assist you.

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