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December 18, 2018
Question

Can I manage project budgets in Quickbooks? how do I set a project budget (not by year but by project duration) and show committed cost (open po) in reporting?

  • December 18, 2018
  • 1 reply
  • 15 views
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1 reply

Level 9
December 18, 2018

Thanks for joining Community today, cribble70.

 

Let me share with you some insights about project budgets in QuickBooks Online (QBO).

 

At the moment, the option to set a project budget by project duration isn't available in QBO. We can only set budget by date or by account. Also, open purchase orders will not be included in the reports since it's a non-posting transaction.

 

To be more familiar on how the budget feature works in QBO, here's an article that you can refer to: How to create, edit, and manage budgets.

 

While this option is unavailable, I would recommend sending us feedback to include this enhancement in the future. I'd be sure to do the same thing on my end.

 

Here's how:

  1. Click on the Gear icon.
  2. Click Feedback.
  3. Type in your feedback or feature request.
  4. Click Send Message.

Reach back to me if you have other questions about managing budgets in QuickBooks. I'm always ready to help you out. Have a good one.

May 15, 2019

Thumbs up for the request!!

 

On projects, it would be very useful to be aware of the actual committed costs vs estimated (or budgets).

 

The user could have a more comprehensive idea of the actual financial status of the project (maybe there's no direct client to bill and invoice any expenses, because products will be developed and finished before sale...)

May 20, 2019

That didn't answer the question.

 

It is a big deal for contractors or anybody that bills in percentages, to have a purchase order be connected directly to an estimate (budget) as a committed cost.  In this manner the job costings would be current. and not rely on invoices to be current.