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angela-cavanaugh
Level 1

As a custom home builder & use Work in Progress asset accts for project costs. Is there any way to get these job costs to be reflected in Project Reports?

We don't have Expenses or Cost of Goods Sold until the project is complete and converted from WIP & Deferred Income. Costs that are held in an asset account don't filter to the project. Any work around?
Solved
Best answer May 20, 2022

Best Answers
JenoP
Moderator

As a custom home builder & use Work in Progress asset accts for project costs. Is there any way to get these job costs to be reflected in Project Reports?

I have details to share that can help you get the report that you need, angela-cavanaugh.

 

As you may have observed, transactions that are posted under asset accounts will not be part of the expense reports. 

 

Although, you can create a quick report for the work in progress asset account and export it to Excel. Once done, export the project expense report to Excel as well. Then, combine them together outside of QBO. This would allow you to add the job cost to the project expense report. 

 

Here's how:

 

  1. Go to the Accounting menu and select Chart of Accounts
  2. Look for the work in progress account. Then. click the drop-down list for View register and select Run report
  3. Click the Export button to download the file to Excel.
     

run1.PNGrun2.PNG

Then, open the expense reports in your project and follow the same steps on how to export them to Excel. You can them combine them together to get the data that you need. 

 

I have these extra references to share in case you might need them when working in QBO;

 

 

Ask more questions in the forum if need more information and help from us while working in the program.

View solution in original post

4 Comments 4
JenoP
Moderator

As a custom home builder & use Work in Progress asset accts for project costs. Is there any way to get these job costs to be reflected in Project Reports?

I have details to share that can help you get the report that you need, angela-cavanaugh.

 

As you may have observed, transactions that are posted under asset accounts will not be part of the expense reports. 

 

Although, you can create a quick report for the work in progress asset account and export it to Excel. Once done, export the project expense report to Excel as well. Then, combine them together outside of QBO. This would allow you to add the job cost to the project expense report. 

 

Here's how:

 

  1. Go to the Accounting menu and select Chart of Accounts
  2. Look for the work in progress account. Then. click the drop-down list for View register and select Run report
  3. Click the Export button to download the file to Excel.
     

run1.PNGrun2.PNG

Then, open the expense reports in your project and follow the same steps on how to export them to Excel. You can them combine them together to get the data that you need. 

 

I have these extra references to share in case you might need them when working in QBO;

 

 

Ask more questions in the forum if need more information and help from us while working in the program.

JenoP
Moderator

As a custom home builder & use Work in Progress asset accts for project costs. Is there any way to get these job costs to be reflected in Project Reports?

Hi angela-cavanaugh,

,

Hope you’re doing great. I wanted to see how everything is going about running project reports. Was it resolved? Do you need any additional help or clarification? If you do, just let me know. I’d be happy to help you at anytime.

 

Looking forward to your reply. Have a pleasant day ahead!

angela-cavanaugh
Level 1

As a custom home builder & use Work in Progress asset accts for project costs. Is there any way to get these job costs to be reflected in Project Reports?

Thank you, JenoP - your answer is helpful.

Candice C
QuickBooks Team

As a custom home builder & use Work in Progress asset accts for project costs. Is there any way to get these job costs to be reflected in Project Reports?

Hey, @angela-cavanaugh

 

Thanks for hopping back on the thread. 

 

I'm so glad my colleague was able to help you with your issue. 

 

We're always here to have your back. if you have any other concerns, don't hesitate to ask. Have a great day! 

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