Tracking and analysing the profitability of each job at the project level is critical for project-based businesses. The Projects feature within QuickBooks lets you organise all the components of one job from sales and expenses to time sheets all in one place making it easier to accurately track and monitor individual projects or jobs.
Now with Project Profitability you can quickly see how much you are making or losing on each job or project giving you the information to take corrective action if needed.
Check out the new projects experience now available in QuickBooks Online Plus subscriptions.
Setting up Projects is easy if you haven’t already done so. Simply follow these five steps:
- Turn on Projects by selecting the Gear icon and going to the Advanced tab. Find the Projects section, select Organise all job-related activity in one place box and save.
- Create your first project by choosing to Add first project in the Projects menu.
- Add your project’s income and expenses.
- Add existing expenses and timesheets by going to the expenses tab and finding the transaction.
- Add your existing invoices and quotes.
For more information on using the Projects feature check out this article.