2019-03-12 14:42:21What's New in QBOEnglishhttps://quickbooks.intuit.com/blog/us_blog/uploads/2019/03/Profit.jpeghttps://quickbooks.intuit.com/blog/whats-new/new-to-quickbooks-online-track-your-teams-labor-costs-with-projects/New to QuickBooks Online: Track Your Team’s Labor Costs With Projects

New to QuickBooks Online: Track Your Team’s Labor Costs With Projects

1 min read

It’s an exciting time for your business. You’re getting more projects and your team is growing. More business is great, but it also comes with more responsibility. At any given time you could be managing income and expenses, juggling multiple projects or keeping track of employee’s time. How do you manage it all?

That’s where Projects come in. We’re excited to announce that you can now track labor costs in Projects.

quickbooks online project overview

Many project-based businesses find themselves lost when it comes to knowing if their projects are profitable or not. This can translate to losing money by underpricing jobs, spending too much time on certain projects or losing track of expenses.

With QuickBooks® Projects, you can easily track all your projects in one place. You can view all the details including expenses, time, and payroll costs to see how they affect your profit margins.

Clear dashboards give you profitability insights for all your projects in real time. You can drill down into the reports to view how much time is spent per project. You will know exactly which projects are making money and which ones need your attention.

In a nutshell, Projects provides:

  • Flexibility to add expenses to projects including labor costs.
  • Real-time profitability insights.
  • Detailed time reports by employee and by project.
  • Views to compare profitability across all your projects.
  • Seamless integration with QuickBooks Payroll and TSheets.

Here’s how it works:

  • Create a project.
  • Tag invoices and expenses as you go.
  • Track billable or non-billable time to the project.
  • See the project’s profitability including labor costs.

QuickBooks Online brings together all your project data all in one place giving you time back to focus on your business.

Know which projects might be losing money and which projects are profitable.

Get started with QuickBooks Online Projects.

Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.
Keep reading:

Related Articles

Intuit Showcases the Smarter Way to Do Business at QuickBooks Connect

Intuit® introduced product innovations at its fifth annual QuickBooks® Connect, designed to give…

Read more

QuickBooks Online Greatest Hits: Innovations for Your Business

In case you haven’t noticed, Intuit® has been ramping up the features…

Read more

What's New in QBO: August 2018

With the dog days of summer in full drag, what better to…

Read more