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Our nonprofit organization wants to track grants using Projects. The revenues and expenses are straightforward, but we also want to track employee salaries that are funded by the grant. I've watched the tutorials about adding employees by the hour and their related overhead. But what about when say Jane has a salary of $50,000 per year and her entire job is covered by a particular grant? Or 50% of her job is for Project A and 50% of her job is for Project B. Her pay and the hours devoted to the project will not change weekly. Is there a way to embed her regularly occurring pay rate into Projects so that it's automatic and I don't have to enter timesheets each week?
I’m here to share some insights about tracking salaried employee time in QuickBooks Online (QBO), NonprofitSeeker.
I know how beneficial it is to your business to set up an automatic entry for a salaried employee on a project. However, this option is unavailable in QuickBooks Online (QBO). With this said, I'd recommend sending this request straight to our product engineers through feedback. Sharing features and options that you would like implemented is how our engineers look for new product updates. Here's how:
In this case, we'll need to manually enter the hourly cost rate. For your salaried employee, we'll need to 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. Here's how:
once done, add your employees' timesheets to the project. Here's an article you can refer to for more details about tracking hourly labor costs and profitability by the project in QuickBooks Online. You'll want to check for a third-party application that can help you with this one. You can check out the apps that are compatible with QuickBooks at this link: https://quickbooks.intuit.com/app/apps/home/. We can also do it in QBO by following the steps below:
Any questions about integrating the app into your Online account are best handled by the third-party app provider. For more tips and other resources, you may visit our page in managing your business in QuickBooks: QBO Self-help articles.
Leave a comment below if need help with project data and reports. The Community and I will be around to help you. Have a great day ahead.
Thank you for taking the time to share this information. It's something QBO should consider adding as a feature!
You’re always welcome, @NonprofitSeeker.
We always take account of the customer’s suggestion regarding the features they want to be added to QuickBooks Online (QBO). RCV’s suggestion to send Feedback will let our product engineers notify us of the features that customers demand.
With that, you may check the status of your feature request in our Feedback forum. The more requests we receive for it, the more likely future enhancements will incorporate this.
If you have more questions about QuickBooks, you can always drop by to post them here. Have a great day!
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