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Level 1

Job Costing - Actual Labor vs Monthly Charge

We run a service-based company that invoices customers a regular monthly rate (as opposed to an invoiced based on actual hours worked on a job/project).  I'd enjoy the ability to look at a job/project report that would show the true labor and costs against revenue for the customer/job/project to get a true picture if we are being profitable or not.

 

Can I create "billable" time while entering timecard data without actually invoicing it out?  Will that solve it?

 

We are currently using QBO but willing to switch to Desktop if necessary.  I've heard this is not possible in QBO but may be possible on the Desktop version.

1 Comment
Level 15

Job Costing - Actual Labor vs Monthly Charge

Billable or not is a Status. Example: You charge me actual times (billable) or a Monthly Contract Fee. Fee = the actual time is not billable to me, since it isn't what you use to Charge me.

 

QB Online doesn't job track payroll costs, so actual time spent as a Cost against the revenue in any period is not something you can report. You can report on Time Spent against the Revenue stream for a period, if you are using Timesheets.

 

Example:

 

X gross revenue divided by Hours spent for that customer = $/hr = Labor effective revenue. You can compare that to Payroll $/hr across the entire business. Compare them to get your Labor Utilization = for every direct hour, it costs X and we gross Y, so your per hour net is Z.

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