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BMW
October 30, 2018
Solved

Create a project budget

  • October 30, 2018
  • 1 reply
  • 18 views

I am using Desktop Pro 2017 and I am trying to create a budget for an upcoming project.  I would like to be able to enter a total cost for each line item for the length of the project.  But, when I go in to create a budget, it only lets me enter monthly amounts.  Is there a way to change the format that I'm not seeing? 

    Best answer by qbteachmt

    Use an Estimate. The Project would be on the Customer Center list, and the Estimate spans the lifecycle of the job, and allows you to use items that include P&L and Balance Sheet accounts.

    Budgets are limited to Fiscal Years.

    1 reply

    qbteachmt
    qbteachmtAnswer
    Level 11
    October 30, 2018

    Use an Estimate. The Project would be on the Customer Center list, and the Estimate spans the lifecycle of the job, and allows you to use items that include P&L and Balance Sheet accounts.

    Budgets are limited to Fiscal Years.

      M
      Mahmoud11
      March 2, 2019

      Thanks for your reply.

       

      Do i need also to make inputs for a project using Estimate for Balance Sheet accounts too?

       

      Kindly explain please.

       

      Best regards 

      Mahmoud 

      A
      Anonymous
      April 11, 2019

      Hoping you can help!! 

       

      We have many (1,000) generic non-inventory items already set up in our QB file that are linked to our P&L accounts.  If I want to get more sophisticated in my project cost reporting and link expenses to a job's "phase" (which I set up as service items), do I need to create a new (duplicate) item that reports up to the new project "phase"?  I guess what I'm trying to figure out is if I need to blow away all of my item history because now I want to be more detailed in my project costing. 


      Hello, gboehmler.

       

      Setting up a new set of items with sufficient information will help regulate the preciseness of your job cost reports.  Though, there’s perfect timing for this process to avoid messing up your reports.

       

      It’d still be best to ask guidance from your accountant prior from doing this.

       

      You might also find this article about job costing interesting, please refer to this article: https://quickbooks.intuit.com/community/Help-Articles/Track-job-costs-in-QuickBooks-Desktop/m-p/201261.

       

      Let me know if you have other questions concerning QuickBooks. Hope your week is going well.

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