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Join nowI'm a contractor using cost codes. If I receive a bill from my painter, I would like to label that bill as a "Paint" Expense and as a "Subcontractor Expense."
"Subcontractor Expense" is in my Chart of Accounts so that's covered, but I don't know how to label each bill as a specific task, such as paint, drywall, windows, etc.
I was told this can be done through Products & Services, but I'm not seeing how.
Thanks!
Hi @ReynoldsH,
You can create those tasks (paint, drywall, and windows) as a sub-account for your Subcontractor Expense. This way, you can assign specific tasks to your bills, and have them all show up under the Subcontractor Expense account.
Here's how to create sub-accounts:
As for what you mentioned about the Products and Services page, I'm thinking this is related to the expense account assigned to your products. These are limited to inventory types though, so it won't be applied to services or non-inventory types.
Additional insights regarding sub-accounts can be found in this article: Create sub-accounts in your chart of accounts in QuickBooks Online.
Have other questions in mind? Don't hesitate to post them below, and I'll get back to you as soon as I can.
It is unnecessary to create a whole bunch of sub accounts, it just confuses things and makes the P&L sloppy
Create items, non inventory items, and each item links to the subcontractor expense account, ie
Painting
Drywall
Electrical rough in
electrical finish. etc
use those items in the item detail part of the expense payment or bill
Thanks for the info!
So I can import my whole list of 150 +/- items, specify them to "subcontractor" or "material," or whatever expense account. Then, when I run my P&L statement, like you mentioned, I don't have 150 lines of sub-accounts, I just have the few expense accounts I use.
Am I understanding that right?
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