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BallardConst
Level 1

Construction - Expense/Billing Recording

Hey Folks, 

 

Thank for your time in advance. I have seen a few different discussions about construction job reporting, and a few different solutions, so I wanted to ask a few quick questions.

 

1. When recording expenses from Home Depot/Lowes, etc., such as nails/screws/etcs., to complete a job - ie install shelving/counter tops - Is it best to record these as Supplies & Material COGS? 

 

2. When recording an expense that is for an item necessary for that job - like a barn door sliding door bar (door slides on this bar) - I assume it should be marked as a Cost of Good Sold. Due to the fact it is a necessity for completing the product. Or should this be market as a new line item 'Trim' since it has to do with trim and doors?

 

Thanks everyone! 

2 Comments 2
Kristine Mae
Moderator

Construction - Expense/Billing Recording

Let me help you sort this out, BallardConst.

 

When you track an inventory item, you set up an expense account. If you've selected Supplies & Material COGS, then it will be recorded under that account once you create an expense transaction. 

 

Concerning the Cost of Good Sold (COGS) account, it's affected when you sell inventory items on invoices or sales receipts. However, you've mentioned completing a job, though. It looks like you're referring to a bundle item. It's a group of items that you can sell and track. 

 

I'll add some articles to better guide you:

Feel free to let us know if you need more help. We're just one post away. Take care!

Fiat Lux - ASIA
Level 15

Construction - Expense/Billing Recording

@BallardConst 

As another option, you may need a construction management app to integrate with your QBO account.

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