We have been using Quickbooks for the past 12 years for everything except inventory. We are ready to start using the inventory feature but I cannot seem to find out from Quickbooks how I can cost some of the inventroy against jobs. Any insight into this would be greatly appreciated.
It's nice to have you with us in the Community today. I’m happy to know you’re ready to start using the Inventory feature to track inventory items.
Allow me to share some information about recording inventory cost against jobs.
Quickbooks Desktop has a built-in job costing feature that will help business owners see how much money is spent and made for each job. To handle jobs against inventory, make sure to set up the items correctly and use these accounts: Inventory Asset, Sales Income, and Cost of Goods Sold.
These accounts will track the value, income, or costs of different types of inventory. After setting up the items, create the customer job.
Now, go back to the Customer Center and add the job. Let me guide you how.
Then, make sure to complete the step by step process on how to track job costs. For detailed instructions, check out the Track job costs in QuickBooks Desktop article and proceed to Step 3.
These steps should get you pointed in the right direction.
If you have additional questions about QuickBooks, leave me a comment. I'll be right here to answer them.
Thanks for the input but i cannot find the Committed Costs report mentioned in your email:
You can run a Committed Costs by Job to see the costs incurred for a job but for which you haven't billed the customer. The amount in the Total Cost column is the actual cost (that is, expenses you've already billed the customer for) plus committed costs and unpaid wages.
Please point me in the direction for it
Thanks but I cannot find the report mentioned in your email
"You can run a Committed Costs by Job to see the costs incurred for a job but for which you haven't billed the customer. The amount in the Total Cost column is the actual cost (that is, expenses you've already billed the customer for) plus committed costs and unpaid wages."
Can you please direct me to it.
Glad to have you here, @dynamicPatty!
You can go to Jobs, Time & Mileage category of your Reports menu to pull up your Committed Costs by Job report. Let's get this done in no time.
Once completed, you'll surely be able to pull up your Committed Costs by Job report.
Here's a screenshot for your visual reference.
In addition, you have the option to customize your report to be able to utilize the content of your report.
Please don't let me know if you have any questions about your reports in the comment section below. It'll be always my pleasure to lend you a helping hand.