You'll be glad to know that you can add labour costs to a project, jacqui2.
Simply set up hourly cost rates before you start tracking time on a weekly spreadsheet. Let me show you how:
- Go to the Projects menu.
- Select Hourly cost rate.
- Find the employee and select Add. Or to edit an employee's rate, select the pencil ✎ icon.
- Select the calculator icon to open the hourly cost rate calculator.
- Add your employee's hourly wage and employer taxes.
- Enter any overhead for even more accurate hourly costs.
- Select Add, then select Cancel to close the calculator.
- Click Save to save the hourly cost rate for the employee.
- Repeat for each employee, then click Done.
Please know that if your employee is hourly, QuickBooks fills in their hourly wage and employer taxes for you. And, if the employee is salaried, enter an hourly rate by dividing their annual wage (including employer taxes) by the number of weeks in a year. Then, divide by the average hours worked per week.
After setting it up, you can add project timesheet, check out this link for instructions: Learn how to use projects to track your labour costs and profitability.
To learn more about tracking your project’s profitability, you can browse this article anytime: Set up and create projects in QuickBooks Online. It provides video tutorials and detailed steps to keep everything running smoothly.
Keep me posted if you have follow-up questions about this by commenting below. I'll be around to help you.
