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cborne
Level 1

Tracking project overhead revenue

I have a client who is using Projects and has created an Overhead Project to track overhead revenue and expenses.  What's the best way to record the portion of each invoice that's specific to covering overhead costs without showing it as a separate line on each invoice?  Book a je to reclass the overhead specific revenue from the project to the Overhead project?  Or is there a more automated way?

1 Comment 1
CharleneMae_F
QuickBooks Team

Tracking project overhead revenue

It's good to have you here,  cborne.

 

We can create a journal entry to track the overhead specific revenue from the project to the overhead project in QuickBooks Online. Here's how:

  1. Go to the + New icon. 
  2. Select Journal entry under the Other column.
  3. Enter the correct journal date.
  4. On the Name column, you have the option to select the project under the customer.
  5. Enter the necessary information.
  6. Once done, click on Save and close.

 

I also recommend consulting an accountant. Doings so can help you ensure the accounts used are correct.

 

To learn more about how projects calculate your project income and costs, I encourage you to browse this article: Track Income, Costs, And Profitability By Project.

 

Additionally, I've included our Projects FAQs for reference. There, you can learn more about what this feature offers to cater to your business needs.

 

You can count on us if you have more questions about managing your projects. Have a great day!

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