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Level 2

Tracking Inventroy cost against Jobs

We have been using Quickbooks for the past 12 years for everything except inventory.  We are ready to start using the inventory feature but I cannot seem to find out from Quickbooks how I can cost some of the inventroy against jobs.  Any insight into this would be greatly appreciated.

Patty Leeds

Dynamic Security

Solved
Best answer 03-22-2019

Accepted Solutions
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Level 2

Re: Tracking Inventroy cost against Jobs

Thanks but I cannot find the report mentioned in your email

"You can run a Committed Costs by Job to see the costs incurred for a job but for which you haven't billed the customer. The amount in the Total Cost column is the actual cost (that is, expenses you've already billed the customer for) plus committed costs and unpaid wages."

Can you please direct me to it.

Patty

View solution in original post

6 Comments
QuickBooks Team

Re: Tracking Inventroy cost against Jobs

Greetings, dynamicPatty.


It's nice to have you with us in the Community today. I’m happy to know you’re ready to start using the Inventory feature to track inventory items.


Allow me to share some information about recording inventory cost against jobs.

 

Quickbooks Desktop has a built-in job costing feature that will help business owners see how much money is spent and made for each job. To handle jobs against inventory, make sure to set up the items correctly and use these accounts: Inventory Asset, Sales Income, and Cost of Goods Sold.

 

These accounts will track the value, income, or costs of different types of inventory. After setting  up the items, create the customer job.

 

Here's how:

 

  1. Go to Customers at the top, then choose Customer Center.
  2. Click on the Customers & Jobs tab.
  3. In the New Customer & Job section, click on the drop-down and choose New Customer.
  4. Enter the customer’s details.
  5. Click OK.

Now, go back to the Customer Center and add the job. Let me guide you how.

 

  1. Choose the name of the customer for whom you want to make a job.
  2. Click the New Customer & Job button in the upper-left corner, then Choose Add Job.
  3. In the Job Name field, enter a name for the job.
  4. Click on the Job Info tab.
  5. In the Job Description field, enter the description.
  6. Enter the type of job into the Job Type box.
  7. Click on the correct status in the Job Status drop-down.
  8. Enter the start date into the Start Date field and the projected date.
  9. Specify the actual end date into the End Date field.
  10. Click OK.

Then, make sure to complete the step by step process on how to track job costs. For detailed instructions, check out the Track job costs in QuickBooks Desktop article and proceed to Step 3.

 

These steps should get you pointed in the right direction.

 

If you have additional questions about QuickBooks, leave me a comment. I'll be right here to answer them.

 

Level 2

Re: Tracking Inventroy cost against Jobs

Thanks for the input but i cannot find the Committed Costs report mentioned in your email: 


You can run a Committed Costs by Job to see the costs incurred for a job but for which you haven't billed the customer. The amount in the Total Cost column is the actual cost (that is, expenses you've already billed the customer for) plus committed costs and unpaid wages.

 

Please point me in the direction for it

Thanks

Patty

 

Highlighted
Level 2

Re: Tracking Inventroy cost against Jobs

Thanks but I cannot find the report mentioned in your email

"You can run a Committed Costs by Job to see the costs incurred for a job but for which you haven't billed the customer. The amount in the Total Cost column is the actual cost (that is, expenses you've already billed the customer for) plus committed costs and unpaid wages."

Can you please direct me to it.

Patty

View solution in original post

Moderator

Re: Tracking Inventroy cost against Jobs

Glad to have you here, @dynamicPatty!

 

You can go to Jobs, Time & Mileage category of your Reports menu to pull up your Committed Costs by Job report. Let's get this done in no time.

  1. Go to Reports.
  2. Select Jobs, Time & Mileage.
  3. Click Committed Costs by Job.

Once completed, you'll surely be able to pull up your Committed Costs by Job report. 

 

Here's a screenshot for your visual reference.

 

Capture39.PNG

 

In addition, you have the option to customize your report to be able to utilize the content of your report. 

 

Please don't let me know if you have any questions about your reports in the comment section below. It'll be always my pleasure to lend you a  helping hand.

Level 1

Re: Tracking Inventroy cost against Jobs

Is there ANY WAY to do this using QB online?

QuickBooks Team

Re: Tracking Inventroy cost against Jobs

You can set up and use the Projects feature in QuickBooks Online, greendiamond.

 

This feature helps to organize and track your project income and costs. To turn it on:

  1. Go to Gear (⚙) icon and select Account and Settings.
  2. From the Advanced tab, select the Organize all job-related activity in one place box.
  3. Click Save, then Done.

We're now ready to create a project. Here's how:

  1. On your Dashboard, select the Projects tab.
  2. Click on New Project. Enter a Project name.
  3. Select a customer. Then, hit the Save button.

Here's a guide on how to track income, costs, and profitability by project. For other questions about this feature, here's an article: Projects FAQ.

 

You can always shoot me a reply if you have other questions.

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