Hi,

Thank you for your prompt reply, as well as including a detailed explanation as to what you need to do in QuickBooks Desktop (QBDT).

Estimates are non-posting transactions. With that said, it won't affect anything about the customer/job. The only way to have the cost and revenue affect the customer/job is by including the names on the purchase transaction and creating an invoice. 

Let me know if you need further assistance by leaving a comment below. I'll be sure to get back to you. 

Thank you. The original concern was how to show the cost amounts on the estimate so that the estimated cost amounts don't also show in the estimated revenue amounts.

From what I am understanding, this can't be done.

At our organization, the revenue is a flat amount given to the customer on a contract that the customer accepts. The customer job is recorded and the revenue is the agreed upon amount.

The expenses are estimated based on a series of spreadsheets and then entered into the estimate as the cost items. At this point of entry on the estimate, the cost appears both in the estimated cost and in the estimated revenue.

We do not use the QuickBooks PO module, and our costs are captured at the expense level.

We were hoping to use the estimate revenue and cost, then, using custom reporting, compare the customer job expenses (costs) to the estimated cost.

From the answers I am receiving, the examples I attached appear to be overlooked, and the answers given don't relate to the actual question asked. 

Hello, I'm trying to do the same thing and just wondering if you found a work around or a way to get the cost vs actual to be correct?  Thanks.

Hello,

HELP! I have been reading all of your posts and I just cannot understand what i need to do. 

1. I set up a new estimate for customer on the cost side.

2. I cannot find where I enter an estimate for the revenue. 

3. when i run my job profitability report, it shows the estimated cost and revenue as the same figure.

4.where is the job profitability picking up the revenue figure from and how do I correct this.

5. can you please give me the answer step by step?

Hello,

HELP! I read your post and reviewed the example. I understand the report is pulling the estimated cost from the cost side. But how do I get the correct estimated income to appear? Where does that pull from?

when i run my job profitability report, it shows the estimated cost and revenue as the same figure.

where is the job profitability picking up the revenue figure from and how do I correct this?

can you please give me the answer step by step?

Hey there, @Mich1959.

I'm glad that you've reached out to us. Let me share with you the possible reason why these data are showing the same amount in the Job Profitability report. 

It could be that the cost of the item and its sales price is the same when created. This is the reason why there are showing a similar figure in the report. 

To check, let's review your item's details. Let me walk you through the process:

1. Go to the List menu and select Item List.
2. Look for the item that was used in your sales transactions.
3. Double-click it to open. Then, check if the cost and its sales price are the same.

If they have the same amounts, edit the sales price or the actual cost of the item. Then, click OK to save your changes.

Please take note any changes you've made will only apply to your next transactions. To correct your records, you'll have to delete your previous transactions and recreate them again. This way, we can make sure that you're data are accurate. 

To check what transactions are affecting the Job Profitability report, you can directly open each one of them from the report. This way, you can determine where they're coming from. Here's how:

1. Go to Reports and select Job, Time & Mileage.
2. Open the Profitability Summary report by clicking it.
3. Click the amount to view the transactions, then review each one of them. 
4. Check the items that were used when creating the transactions.
5. Go back to the Item List menu and review each item. Then, compare their cost and sales price. 

Once you locate the transactions that are affecting the report, delete and recreate them to correct your records. You can also reach out to your accountant. They can help you in correcting your data.

Additionally, QuickBooks Desktop allows you to customize any report that you generate. You can use this feature to easily view the details that matter the most to your business.
 

Let me know if you need further assistance with this. I'm always around to provide answers and clarifications to your questions. Have a great day ahead and take care.

I too am having difficulties with getting the actual cost to show on same line as estimated cost on Job Estimates vs Actuals Detail report.  So in enter vendor bills, i changed the bill from expense to item.  now the vendor bill shows up on correct job item estimate but doesn't show up as expense on Job Profit Loss report.  Is it non posting?  I need the vendor bill to be an expense but I also want it to appear on correct cost item line.  Please help.

thank you

Lolly

Hello there, Lolly3.

It looks like you've posted twice. My colleague already shared the details you need. To view the complete information, please check this link: https://quickbooks.intuit.com/learn-support/en-us/reports-and-accounting/re-when-i-run-job-estimates....

If you have other questions, please let us know by posting another one in the Community. Take care and stay safe always.

I am still not sure how to ENTER an estimated cost and estimated revenue as 2 different amounts when creating a NEW job with detailed items. These amounts will vary per item based on the proposals/contracts created for each job.  I've made sure my items are two sided with an Income vs Expense, but when I try to create a new job estimate and select the items to add, it only provides a Rate field for one dollar amount. I can modify that amount but then it just uses that same amount as the est. cost and as the est. revenue on reports. Do I need to do dual entry and create the revenue estimate in a different way per job?

I can help you to enter the estimated cost and revenue as two separate amounts while creating a new job with items, @CL566. 

First, ensure the Type dropdown is set as 'Inventory Part' to create an item. Then, you can find the Cost on the Purchase Information side and the Sales Price on the Sales Information side. Once you have entered both amounts, you can set and review the other fields.

You can check out this article to know more about adding, editing, and deleting items: Add, edit, and delete items in QuickBooks Desktop.

In case you want to see how much money you spend and make for each job, you can check out this article for guidance: Track job costs in QuickBooks Desktop.

Please come back if you have follow-up concerns regarding adding estimated costs and revenue to items. We're always here to help you out.