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Level 1

QBO Vacation Pay & Job Costing

Hi,

 

We recently switched from Quickbooks Desktop Pro to QBO.

 

We are contractors, and sometimes do jobs on a time and materials basis.

We pay out vacation pay as a percentage of earnings on each paycheque. In Desktop, the vacation pay and WCB expense were included in the Payroll Expenses line in our Profit and Loss by Customer reports, but they aren't showing up in QBO.

 

How do I track these expenses by job?

1 Comment
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Level 7

QBO Vacation Pay & Job Costing

Hey meghan5,

 

Welcome to the QuickBooks Online family! It's great to see you're already familiar with the robust jobs management and costing available in our Desktop offerings. QuickBooks Online allows you to easy track costs and payroll expenses to your customers or projects. This offers similar insights to what you're accustomed to, without compromising the focus on simpler bookkeeping. I'll be happy to help you get this set up. 

 

Note: Advanced Payroll Powered by WagePoint is optimized to automate the majority of your payroll. The easiest way to assign payroll expenses to a project is by editing the journal entry once it generates.

 

QuickBooks Online Standard Payroll is focused on giving you control. You can easily assign work hours to a specific project in just a couple easy steps:

  1. Select New.
  2. Select Weekly Timesheet.
  3. Select your employee and the week you’re entering time for from the drop-down menus.
  4. Select the project from the Choose a customer or project ▼ drop-down menu. This will tag the timesheet to the project.

Hours entered this way will feed directly into your payroll, so you can save even more time on payroll night. Check out this handy article to learn more about projects costing: Track income, costs, and profitability by project 

 

Let me know if there's anything else I can help you with!