Projects feature comments. I like that QBO is moving in this direction. The issue i have so far however is that i use "journal entries" to allocate my payroll to COA accounts such as "direct labor", "G&A labor"..ect. When the journal entry debit/credit transaction is done. The COA correctly shows the movement of the $ amounts from Payroll>Regular Wages to the respective COA account. However, when one looks at the "Projects" window, the payroll amount is now "double counted" as in the projects window, the Payroll>Regular Wages $ stays as still showing in this account in addition to now being included in the created designated debited journal entry account "Direct Labor" which now also includes this same dollar amount moved into it. So the effect is that in the Projects windows, when one does journal entry to move (debit/credit) pay records into other accounts for payroll>regular wages, the Projects windows do not not "zero out" the pay amounts from the Payroll>Regular Pay account which is correctly done on the COA. Also, there are more expenses that are designated for a project "fringe" above and beyond just payroll taxes. further refinements is needed to allow other accounts to be assigned as fringe. For example, PTO time for people working on a project such as "Sick", "Vacation" and "Holiday" pay is fringe, also insurance payments such as workman comp is "fringe". It would be good if QBO could consult with experienced DCAA federal projects accountants to help refine this feature to allow the user to assign accounts to either "direct", "G&A", "Fringe", "Overhead". The QB Desktop has a 3rd party add-on from a company named "ICAT systems" www.icatsystems.com that provides all of these features with QB desktop. QBO should work with ICAT systems, similar to how QBO worked with TSHEETS to create a ICAT configuration for QBO instead of trying to re-create the wheel.
Re: New Projects feature in QBO needs much more work.
We do value all the feedback from our customers, Drefl.
We use your feedback to identify any areas where we could do better and to work on constantly improving our products and services.
Regarding your concern, when you create a journal entry in QuickBooks Online, this will not affect the project. You may have to create an estimate, invoice, expense, bill, purchase order, or time to add an income and expense. Please check this article for more information: Set up and use the Projects feature.
I will be your voice and pass your suggestion to our management team. This way, they can reach out to our engineers and have this reviewed.
In case you have other questions, don't hesitate to let us know.