KlentB,
Wow, thank you. My 'Products and Serivces' list is composed of two different 'Actions'. There are labor and materials. The labor is Services and the Materials is Billable Expense Income.
Example is 'dispose of material' which is services. I had this as a BEI and just changed it to Services, both are income. Both are charged back to the customer. When I first started QBO in February I didn't really know what to put in here and as you can see I still don't. On the P&S page there are many different columns. Since we are not a retail or wholesale company many of them do not apply. The ones that do are Name, Type and Action. Action having many different choices. We do not supply anything to our customers, we Demo, Despose and Build. So, given those actions what should I put in each?
Lets talk about my projects. On one side we have Income and the other is Expenses. Under income we have Services, which is the labor hours and the BEI, which are all the items we have purchased to construct a project. On the expense side we have the Hrly time cost, itemized for each employee and if you click on it we get the hourly rate and what we charge the customer, cost rate. Under that we have our Expense, which is our JS&M. What should I put in where to make this reflect our true costs and income?
I can't thank you enough for your help. I pay a lady $57 a month to help me but no one knows everything and some people just can't explain it clearly.
I anxiously await your reply.
p.s I am 75 years old and have spent my career in IS and now that I am retired I volunteered to help my brother with his books. This is the first time I have worked on QB.
