Question

Projects or Classes

11 replies
37 views

Consultancy Company where they track all income and expenditure per client and consultant. A profit and loss is produced through the project and at the conclusion. Purpose of the P&L is to determine profitability, which consultant manged the project and a history of all jobs for this client.

Would it be better in the above scenario to use Projects or assign all income and expenses to a class and thereafter extract reports.

Is there a fundamental difference between Project and classes>

QuickBooks Online

T

Terina Carr

Hi Deano2

Classes and Projects are definitely similar in Quickbooks, however, the intent of them is slightly different.

Classes are generally for categorizing business departments or different services your business may provide.

Projects are for tracking and analyzing the profitability of a job. If you have a project-based business such as contracting, interior design or consulting this means projects can vary widely in scope and complexity.

The Projects feature lets you organize all the components of one job - like sales, expenses, and timesheets - in one place, making it easier to track individual projects or jobs.

For your above scenario then Projects would work perfectly:)

Cheers

D

Deano2Author

Thank you for the speedy response. This board is excelent.

In thus instance one client may have numerous jobs at various times.

1) Can we produce a profit and loss on individual jobs and then all jobs.

2) Can we reflect a custom fields to track who worked on the project

3) If we receive one bill from a supplier ..can we enter this bill and allicate to different projects. (in the same way as well can do when assigning classes)

Tia

I

Irene R

QuickBooks Team

If you select the "Billable" box when entering a Bill, does that just "bill" it to the project, or does it actually add that invoice as a charge to the customer.

I'd like to add it to the Job (Job costing), but not charge the customer.

Thanks,

Brandi

Welcome to the Community, @bebasin.

I am here to give information about your inquiry regarding the billable expense being charged to your customer in your QuickBooks Online (QBO) account.

In creating a bill in QBO, it does not automatically assign to a project or charge your customer when you mark check the billable box.

If you want to assign to the project but not charge the customer, you can select the Customer/Project but don’t tick the Billable box.

You can read more about creating a billable expense by checking this article out: Enter billable expenses.

Let me know if you have further concerns about creating a bill in your QBO account. I’ll be here to assist you at any time. Have a good one!

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