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Speelmon
July 27, 2020
Question

Job Profit & Loss Reports

  • July 27, 2020
  • 2 replies
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I have a client using QB Enterprise and TSheets.  Their payroll is outsourced.  I can't figure out how to get any labor costs to show of the Job P & L Reports. I can get the time and a cost to show in the Time/Cost window. I select it to add to the invoice, but it doesn't show in the cost on the Job P & L Report.  Can anyone help?

Thank you

    2 replies

    RenjolynC
    RenjolynC
    July 28, 2020

    Thanks for taking the time in reaching out to us here, Speelmon.

     

    I'd like to verify, did you make the time billable to a customer or job? If not, let's open the time activity and put a check mark on the Billable box.

     

    You'll want to run a Time Detail report to open the transactions. Here's how:

     

    1. Go to Reports > Jobs, Time & Mileage > Time by Job Detail.
    2. Find and double-click the item. 
    3. In the Time/Enter Single Activity window, put a check mark on the Billable box.
    4. Click Save & Close.

    Once done, go to Customers > Customer Center and select the customer or job. You can create a sales receipt or invoice and add the time/cost. I've got a sample screenshot for reference below.

     

     

    Also, the figures will show on the account where your items are linked. Let's make sure to check the account of that item by following these steps:

     

    1. Go to Lists > Item List.
    2. Find and double-click on the item.
    3. Check the account selected from the Account drop-down menu.
    4. Click OK.

    Once done, we can run the Profit & Loss by Job report and look for the account. 

     

    In my sample screenshots below I've added an item named Service 1 and linked it to an account called Sample account for income.

     

     

    I'm also adding this article that you can bookmark: Understand the chart of accounts in QuickBooks.

     

    I'll be around if you have any follow-up questions or other concerns. We're always here to help. Take care and stay safe.

    S
    SpeelmonAuthor
    July 28, 2020

    Thank you for your help.  These are the steps I have taken.  I am thinking that the labor cost does not show up on the P & L by Job report because the payroll is outsourced and not prepared in QB.  Is there a way to pick up labor cost from the time sheets alone? 

    Thank you, Nora

      MarsStephanieL
      MarsStephanieL
      July 28, 2020

      Hi there, @Speelmon.

       

      You'll have to create to set up a job cost in QuickBooks so that it will appear in the Profit and Loss as labor cost. There will be no labor cost if there's no expense generated from the timesheet. I'll show you how to set up job costing in QuickBooks.

       

      First, set up a customer for each of your jobs. Here's how:

      1. Go to the Customers menu, select the Customer Center toolbar.
      2. Click New Customer & Job.
      3. Select New customer.
      4. In the Customer Name field, enter a unique name or code for this customer to make it easier to identify.
      5. Enter other necessary details.
      6. Select OK.

       

      Then, assign the billable time to the job. Please refer to the detailed steps in this article: Tracking job costs in QuickBooks Desktop. 

       

      Furthermore, I'd like to share this article to help you customize your report effectively in the future: Understand reports.

       

      I'll be a few clicks away if you need further assistance or if you have other questions. I'd be happy to answer them for you. Have a wonderful day.

      E
      Elizabeth Mejia
      February 22, 2023

      Hello, I just want to share that I am working for a construction company which is tracking the costs by Job and Class on QuickBooks desktop. Now I would like to ask How do you guys work with overhead and other expenses that are not classify at an specific project?  

       

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