Internal Project Tracking

Forum|Forum|2 years ago
December 7, 2023
1 reply
2 views

We would like to be able to track costs for internal construction projects (projects that will turn into assets once complete) How is this best done in QB?

QuickBooks Desktop

MirriamM

QuickBooks Team

Hi there, Cwipf.

I'm here to help you track costs for internal construction projects.

In QuickBooks Desktop (QBDT), you can utilize the Job Costing feature that'll help you track expenses for a job and compare those expenses to your revenue.

To have an accurate record of your job costs, follow these steps:

Set up a Customer:Job for each of your jobs
Assign all your expenses to jobs
Enter your estimates in QuickBooks Desktop
Create appropriate invoices

For in-depth instructions, refer to the article: Track job costs in QuickBooks Desktop.

After that, you can run job costing reports to check how your business is doing on a job-by-job basis. It also helps you to easily determine which job is profitable and which is not.

Post again here if you need more help in tracking costs for internal construction projects in QuickBooks. I'll gladly help you resolve them. Stay safe and have a great week ahead!

CwipfAuthor

How do I do this if I do not have a customer? I'm not selling anything - just building for internal use

brett-r

I'm working through something similar for a non-profit. I'm considering set up a class called Projects, and then setting up my projects as sub-classes. This isn't ideal, as these are one-time projects - but it would allow me to set up a budget by class so that I could track budget vs. actual.

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