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Job Profitability Report not showing Items from Bills as a Cost

Forum|Forum|6 years ago
March 30, 2020
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I have a bill where I purchased an inventory item. I have assigned the item on the bill to a specific job. When I run the Job Profitability Report for the job the item doesn't show up at all. The item is setup with the relevant COGS & Income account. Why is the item not showing up on the Job Profitability Report under the inventory section as a cost? Please see below:

QuickBooks Desktop

Best answer by RenjolynC

Hello there, Mavors19.

When the item is billable to a customer or job, let's make sure to create the appropriate invoices, so the revenue is included in the Job Profitability reports.

Here's how:

Go to Customers > Create Invoices.
Select the customer or job from the drop-down list.
When you get the Billable Time/Costs prompt, choose Select the outstanding billable time and costs to add this invoice? option.
Go to the Items tab and put a check mark on the item.
Click OK.
Review the invoice information and hit the Save and Close button.

Once done, go back and run the Job Profitability Detail report and check if the item shows up.

I'm also adding this article for reference: Tracking job costs in QuickBooks Desktop.

Please let me know how it goes and I'll get back to you the soonest. Thanks.

RenjolynCAnswer

Hello there, Mavors19.

When the item is billable to a customer or job, let's make sure to create the appropriate invoices, so the revenue is included in the Job Profitability reports.

Here's how:

Go to Customers > Create Invoices.
Select the customer or job from the drop-down list.
When you get the Billable Time/Costs prompt, choose Select the outstanding billable time and costs to add this invoice? option.
Go to the Items tab and put a check mark on the item.
Click OK.
Review the invoice information and hit the Save and Close button.

Once done, go back and run the Job Profitability Detail report and check if the item shows up.

I'm also adding this article for reference: Tracking job costs in QuickBooks Desktop.

Please let me know how it goes and I'll get back to you the soonest. Thanks.

M

Mavors19Author

The item's cost is not showing under COGS/cost section of the report. I am not missing revenue. To clarify, I created an invoice based on % of completion. E.g. 30% complete = $10,000; a flat rate. Therefore, I did not send an itemized invoice nor pull the item from the bill onto the invoice. I don't understand why the items on the bill when assigned to a specific customer do not show as cost on the Job Probability report regardless of them being invoiced or not. Are you saying that the Job Probability report and related reports like the P&L by Job only pulls information (cost and revenue) from invoices and not bills?

Tori B

Good evening, @Mavors19.

Thanks for following up with us.

A Job Profitability report is designed to find out how well your company is doing at estimating jobs, how much time is spent on each job, and the mileage expenses for each vehicle or job.

With that being said, when you created the bill for the purchase of the item, you did not invoice the item (which would be selling the item). So there's no cost in the item until QuickBooks recognizes the item as sold. When you made the purchase, it moved the money from your bank account (asset account) to the inventory asset account. Therefore you haven't spent any money at this time so no COGS. You'll need to invoice the item before COGS is realized.

In the meantime, you can check out Understand reports for a better understanding of each report and what goes into them.

Please let me know if you have further questions or concerns. I'll be here every step of the way in getting you back to business. You can always count on us here in the Community to lend a helping hand. Take care!

N

NDWest

None of these options worked for us. We, like you, do not invoice our customers per item on invoices, rather charge them a flat rate per job with costs already built in. What I ultimately did was to make our products, in our instance bags of fiberglass insulation, a "non-inventory" item then assign an amount to jobs directly on the bill.

Example:

I buy a full truck of insulation that is 975 bags. I only need 20 bags for the "Johnson Job", so i enter 955 bags not associated to a job and 20 bags billable to the "Johnson Job." This will then show on your job profitability report as a cost.

The only down side to doing it this way is each time we use some of the insulation I have to go back into the original bill and change the numbers to take away from the amount not assigned to a job and add some to a customer job. Seems there should be an easier way to do this, and if so I would love to hear it, but this is the only solution I have found that will satisfy my accountant for the job profitability reports.

Seichter

Hello,

Once you enter an invoice, you do not need to go back into it to adjust the quantity applied to a job.

You can create a Bank Account called Material Transfers Account or other name like that.

Then you select Banking/Write Check. Create a $0 check. Enter the details the same as you have them listed on the invoice, moving the quantity and $ amount from the Customer:Job to the Job name that used this item.

The line that is a positive quantity is the line you will apply the job name that used this item.

The line that is a negative quantity is the line you will take from.

This is how we transfer materials so we don't have to find the original invoice.

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