Wages Not Reflecting Correctly on Profit & Loss Statements

I appreciate you for the steps you took to manage this situation, @RyderW. I'm here to further help. 

Although the property, class, and customer tracking of time entries from QuickBooks Time aren't carried over directly to QuickBooks Online's (QBO) financial reports, we can enable class tracking from the payroll settings to track payroll transactions by class in the reports. I can guide you in accomplishing this in QuickBooks Online (QBO). 

You can enable Class tracking and assign classes to employees on the Accounting Preferences page. You can follow these steps: 

1. Go to the Gear icon in your QBO account. 
2. Click on Payroll Settings.
3. Scroll down to the bottom of the page and select the pencil icon in the Accounting section.
4. Click on the pencil icon for Class tracking.
5. Choose either of the following:
   a. I use the same class for all employees
   b. I use different classes for different employees
6. Hit Save. 
7. Scroll down and click on the pencil icon in the Update transactions section.
8. Choose the start and end date of the paychecks you need to be tracked by class. 
9. Select Save.

After this, run a Profit and Loss report by class to review the changes. 

I'm adding this guide for saving the current customizations of the reports you run in QBO: Memorize reports in QuickBooks Online.

We'll be here in the Community if you need further help running financial or payroll reports in QBO. We'll do our best to assist. Take care.

Thanks for the steps you’ve provided, AlverMarkT, but we’re still facing major issues with wage tracking in QBO that your response does not fully address. We need a more comprehensive solution.

What We Are Trying to Achieve:

Consider a scenario where an employee, Bonnie, works at a nightly vacation rental business. She works an 8-hour shift. For four hours, she is housekeeping after a nightly guest, James, at the Garden House. The remaining four hours, she is doing administrative work at the office. Currently, in QBO, all her wages would fall under “Not Specified” in the Profit and Loss by (1) Property (2) Class and (3) Customer. We need the wages to reflect accurately as follows:

• Profit and Loss by Property: Half of her wages should fall under “Blue House” and the other half under “Office”.
• Profit and Loss by Class: Since our classes in QBO are set up as departments, half of her wages should fall under “Housekeeping Dept” and the other half under “Admin Dept”.
• Profit and Loss by Customer: Half of her wages should fall under “James” and the other half should fall under “Not Specified”.

Key Issues with QBO Provided Solution:

• Partial Solution: Your response only addresses class tracking, and not at the timecard level, which is where the fields in question are. What about customer and property tracking? This is crucial.
• Single Class Tracking: Our classes are set up as our departments (e.g., Housekeeping, Admin, etc.). Many employees work in multiple departments, but QBO's solution assumes each employee’s wages would only be recorded to a single class (department). This does not reflect our reality, or that of other complex organizations.
• Availability of Wage Data: Why is it acceptable for QBO (or companies using QBO) to not have detailed wage data readily available in the various Profit and Loss statements? This significantly impacts our ability to make informed decisions and increases manual workload. It is also counterintuitive to include those fields on the employee timecards if the data does not show up in those Profit and Loss reports (they only show up in QB Time reports, that are non-financial, meaning the reports are not in dollars, but rather, hours).

Who within QBO has the authority to make changes to the system and can address these issues comprehensively? My post highlights significant inefficiencies. We need someone who can read and understand our situation and implement effective solutions, instead of just telling us we can’t achieve what we need.

Best,

Ryder

Thank you for getting back to the thread with detailed information, @RyderW.

I recognize the urgency and importance of organizing your wages in the Profit & Loss. Let me share information on how we can handle your concern.

In QuickBooks Online, the option to track half of the wages separately by Class, Property, and Customer is unavailable. I encourage you to submit feedback to our QuickBooks Developer team. That way, they can study further about this feature and may add it to future product updates. Your input will help us identify the areas of improvement that need to be made.

Here's how:

1. Go to the Gear icon.
2. Choose Feedback.
3. Type in your product suggestions, then click Next to submit feedback.

You can visit our QuickBooks Online Feature Requests website to track the status of your submitted feedback.

Please visit this article if you need guidance in exporting reports in the future: Export your reports to Excel from QuickBooks Online.

Feel free to post again if you have clarification and additional concerns in managing wages in the Profit & Loss. I'm just around to help you.