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T
TMoore
August 26, 2024
Question

The estimated cost shown in my estimate page on the upper right hand corner is wrong. It is showing a negative profit.

  • August 26, 2024
  • 1 reply
  • 0 views

I am doing an estimate for a landscaping project in QB Online, and after marking up all the service and non inventory item costs in the estimate like I usually do, the report  in the upper right hand part of the page is showing the costs actually larger than the estimate total itself, like it is reading some hidden cost or negative markup value somewhere.  What is going on? I went through the estimate and added all the costs and all the mark up values and the estimate total correct, but I think there is something wrong with the program, because it is showing a large negative profit (loss) up in that upper right hand corner of the screen. After subtracting the costs from the estimate total, I should be showing a potential profit of about +25%. Instead QB is showing a profit of about -39.55%. Everything else in the estimate checks out, but I am afraid that this glitch may mess up things when I convert it to an invoice or do a job profitability report when I finish the project.

1 reply

K
KimAnnVA
October 1, 2024

Without seeing it, if you have already started progress invoicing, you may have receipts attached to that job.  You can do a report in QuickBooks and filter to specific job and see what expenses are on it. 

T
TMooreAuthor
October 1, 2024

Unfortunately, this showed up before I started the job, before I created any progress invoices. I will have to look at the audit history of the estimate to see when this happened. It wasn't in the first version, but came about when I was editing. I have completed the job and the three progress invoices added up correctly, so this negative profit is just showing in the estimate. I remember clicking the "Update Layout" at some point. Maybe this had something to do with it. As an aside, what does the "Update Layout" do? I have clicked on it doing other estimates and it appears to do nothing.

K
KayePe
October 1, 2024

You may have modified the estimate, but the changes didn't reflect on your progress invoices, which is why it's showing a negative profit on your end, @TMoore. Let me provide you with some information regarding this.


I recommend checking the audit history of the estimate to see if any changes were made after the initial version, as you mentioned that the changes only appeared while you were editing. To better understand your concern, could you provide a screenshot of the current situation and any additional information. This will help us grasp your experience more clearly and find the appropriate solution.


Regarding the updated layout, QuickBooks made changes based on your feedback to better suit your business needs. Once the update is implemented, it should automatically appear on your end. In your case, you may already have the latest update, which is why clicking on the option shows nothing.


Additionally, to compare your income and expenses for different periods and gain a comprehensive business overview, you can learn how to generate a Profit and Loss Comparison Report in QBO.


I understand your desire to be handled about this concern. Providing further information will help us determine your experience and will aid you with this. Feel free to reply below, @TMoore.

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