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Jane 2
Level 1

Hi, is there a profit and loss report for a job that includes time costs?

 
3 REPLIES 3
Ashleigh1
QuickBooks Team

Hi, is there a profit and loss report for a job that includes time costs?

Hello Jane 2, 

 

Welcome to the Community page, 

 

So things in the profit and loss reports are from the chart of accounts, so unless you have set something up there to record what you are wanting then it wont show up for you. 

 

However you can get this option using projects but if you are wanting something specific you will need to set up one on the chart of accounts section and then post transactions to it so it shows up. The only reports for projects are project profitability (without time cost) or time cost by employee or supplier or unbilled time and expenses. so if you click on projects>click on a project>project reports and you will see the 3 options there once you click on one of the reports you can then filter and customise it so it just shows what you want it to show. 

 

 

Jane 2
Level 1

Hi, is there a profit and loss report for a job that includes time costs?

Hi,

 

I am aware of those reports but what I want is project profitability with time cost.  I know that payroll is optional but we have it and our direct payroll costs have a huge impact on our project profitability so I would like a report that includes them. 

Giovann_G
QuickBooks Team

Hi, is there a profit and loss report for a job that includes time costs?

Hi there, Jane 2.

 

I can share additional information about running your profit and loss report.

 

The ability to run the project profitability report with time cost is currently unavailable. However, you can run two separate reports the profitability and time cost report. Then, export via excel file so you can personalised them to reflect only the information you need.

 

If you want the report that includes the payroll cost, you'll need to set up payroll expenses in the chart of accounts and manually enter them each time you run payroll.

 

Here's how to set up expenses account:

 

  1. Go to the Accounting menu.
  2. Select Chart of Accounts.
  3. Click New.
  4. In the Account Type dropdown, choose Expenses.
  5. In the Detail Type dropdown, select Payroll Expenses.
  6. Enter a name for the account in the Name Field.
  7. Hit Save and Close.
  8. When you manually enter your payroll expenses, choose the new payroll expenses account you made. QuickBooks will use this data to calculate the payroll expenses for projects.

 

For your reference. check this guide for the detailed steps: Track hourly labour costs and profitability by project.

 

Adding this resource for more insights: Track income, costs, and profitability by project.

 

Leave a comment if you have further questions about running the project profitability reports. The Community and I will always here to back you up.

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