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N
NoVA123
January 12, 2021
Question

Projects

  • January 12, 2021
  • 1 reply
  • 3 views

When I go into Projects I see, among other items, the income, costs, and profit margin. When I click into a project I see entirely different numbers. And then when I click into Project Reports and run the "Project profitability (without time costs)" report I see yet a third set of numbers.

 

I have tried different browsers and different computers.

 

1 reply

R
Rea_M
Level 10
January 12, 2021

I appreciate you for performing some troubleshooting steps and adding a screenshot above, @NoVA123. This way, I was able to identify the right resolution in letting the Projects feature displays accurate and correct amounts.

 

The Projects feature in QuickBooks Online (QBO) will calculate your cost based on the hours and billing rates even before you've entered the actual expense transaction. Based on your screenshot above, it seems like you've pulled up the Project Profitability report on an Accrual basis. That's why the amounts you're seeing didn't match.

 

You'll have to make sure you changed the report's Accounting Method to Cash and set the correct date range to get all the same results. Here's how:

  1. Go to the Projects menu.
  2. Select the project you want to review.
  3. Go to the Project Reports tab.
  4. Click the View hyperlink in the Project profitability section.
  5. Make sure to set up the correct dates in the Report period section.
  6. Change the Accounting method to Cash.
  7. Click the Run report button.

 

I've attached a screenshot below that shows the result.

 

Additionally, you can utilize the Projects feature to easily understand your business and gives you a clear picture of your profits from every project. You can learn more about this by checking out this article: Track income, costs, and profitability by project. It also includes details on how to calculate your hourly time costs.

 

Please let me know how it goes. You're always welcome to comment below if you have other concerns about utilizing the Projects feature in QBO. I'm just around to help. Take care always.

N
NoVA123Author
January 13, 2021

Hi @Rea_M 


Thanks for the reply. My Project Profitability Report was already set to report on a Cash Basis and this was the case when I took my screenshot. 

 

I think the issue is in both with the list of Projects (when you click on the Projects menu) and the individual Project dashboard. Currently when I am on the dashboard of an individual project not all of my expense categories are displaying (in the center column marked "EXPENSE" . This all seemed be working fine up until a few weeks ago. I'm not sure what has changed since then. 

N
NoVA123Author
January 17, 2021

Hello, @PinnacleHomeBuilding.

 

I understand the impact of any discrepancy in your profitability reports. We have received reports about the contractor-related expenses not showing in project overview and reports. Rest assured, our Product Engineers are working on determining the root cause of this ongoing issue. By then, we can released updates to resolve this issue.

 

In the meantime, I'd recommend contacting our Customer Care team. This way, you'd be added to the affected users' list. Just provide your full name, updated email address, and this investigation number: INV-53864.

 

Here's how: 

 

  1. Go to the Help menu at the top.  
  2. Go to Contact Us.
  3. Enter your brief concern in the box.
  4. Press Let’s talk.
  5. Select Get a call and enter your personal information.
  6. Click Confirm my call. 

Once update about the investigation is available, you'd be notified through an email.

 

We appreciate your patience as we are resolving this concern. Get back to us here if you have other questions or concerns about using QuickBooks. I'm always happy to help.


Hi @IamjuViel 

 

The "Contractor" expenses are not populating on my specific project tabs, either. Just wanted to let you know. 

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