Is it possible to see a project profitability report which includes the cost of labour?
I have the time allocated to the project in weekly time sheets. It shows up as either Nonbillable or Unbilled time on the project page dependent on whether I tick the billable box ok, but I can't get it itemised in the project profitability report.
The project is a set quoted price so I don't want to bill the client individually for labour expenses, I just want that cost to show up in the profitability report.
Surely it's a pretty basic requirement to include the labour costs in a project profitability report?
Any help appreciated!
Thank you for your question!
The only way time will show on the project profitability report is if it is included in an invoice - otherwise it will always show as not billed. This is because you are not officially charging for it if not applied to an invoice.
If you would like this feature to be implemented in future updates, you can use the Feedback option under the cog wheel to suggest this to our developers.
Thank you Talia, that's pretty much what I feared!
Not really a lot of use in my situation with a priced job as you don't bill the client for time individually, it's part of an overall price.
I'll take your advice and suggest it to developers.
Hopefully it's something they can look into!
We would also be very interested in having the ability to see time in this manner.
The ability for the 'whole' of the projects structure to be switched from Cash basis to Accruals basis would be much more useful.
There is a grayed out "Cash basis" next to the 'print list' icon and 'Export to Excel' icon. Is this indicating that there is a switch that can be thrown to change between 'cash' and 'accrual'
Where is this option displayed? When viewing a project or when viewing the project report?
"The ability for the 'whole' of the projects structure to be switched from Cash basis to Accruals basis would be much more useful."
Yes, I agree. This is a design flaw on the Intuit's part, I think. We should be able to switch from cash to accrual or vice versa right on the overview page of the project (similar feature available feature on almost all standard reports).
There is a grayed out "Cash basis" next to the 'print list' icon and 'Export to Excel' icon. Is this indicating that there is a switch that can be thrown to change between 'cash' and 'accrual"
In order to switch it to Accrual from Cash, you will need to change it from main gear settings (Gear on the top > Your Company > Account and settings >
Advanced > Accounting > Accounting method > Change to Accrual > Save > Done.
But you would not see "Accrual basis" next to the print icon like you saw grayed out on "Cash basis". Very strange!
Projects - Accruals basis rather than Cash basis - this would still be useful!!!
I know this has been closed for a while, but it seems like this issue is still ongoing?
I would like this feature also! Seems weird that I cannot see my project profitability WITH my labor.
Same here. why on earth would you want to see a project without labour costs as that really isn't a profitibility report is it!!
Bumping this up again, I completely agree that labor costs need to be on the project profit forms!
Same here. Seems crazy that you can see it in the project section but not in the report. Internal cost accounting is standard practice. So odd Quickbooks can't do it.
I recognize how helpful it is to run a report with a time cost option in QuickBooks Online, @peter-maddison.
I would like to reiterate what Talial mentioned that we can view that report if it's included in an invoice. Thus, I recommend sending our Product Development team feedback to help improve your experience. They can take a look and might consider this as part of future enhancements.
You can track your feedback through the QBO Feature Requests website.
Rest assured that our product engineers are continuously working on improving your QuickBooks experience.
Once everything is good, see this guide to learn more on how to add and manage repeating transactions in QBO: Create recurring transactions in QuickBooks Online.
Please let us know if you have other concerns about this matter or QuickBooks in general. You can leave a comment below so we can respond as soon as we can. Keep safe!
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