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Join nowOur company is growing and we are building two more office buildings for our future use (no plans to sell them when complete). The costs associated with these projects will hit Construction-in-Progress. We are not a construction company so upgrading/purchasing QB Construction is not a good fit for us. How should I account for the two projects separately? I am not sure if I should be using projects, classes, or items to not only track the buildings but also the different components to the buildings. For example:
Building 1
Land
Concrete work
Windows
Interior
Building 2
Land
Concrete work
Windows
Interior
How would I run reports to show the totals per building/category? Every report I see is a P&L. Since the projects are hitting the CIP balance sheet accounts, P&L's will only produce zeroes.
Solved! Go to Solution.
You can use class tracking, LaurenK.
This will let you track account balances for your separate buildings. First, let's turn on class tracking, here's how:
After that, set up your classes:
Furthermore, you can run reports by Class. Check this article to learn more: Filter, sort or total reports by Class
Don't hesitate to leave a reply should you have additional questions.
You can use class tracking, LaurenK.
This will let you track account balances for your separate buildings. First, let's turn on class tracking, here's how:
After that, set up your classes:
Furthermore, you can run reports by Class. Check this article to learn more: Filter, sort or total reports by Class
Don't hesitate to leave a reply should you have additional questions.
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