Can we add cost centre in QB

Welcome to the Community, @anuraag-biswas.

In QuickBooks Online (QBO), the ability to add a cost centre is currently unavailable. However, the system has a feature called Project, which you can use to track or quickly calculate your cost. This also includes income and profitability.

If you want to know more about this feature, I highly suggest checking out this article: Track income, costs, and profitability by project.

Please let me know if you have any other questions or concerns by leaving a comment below. I'm always here to help. Have a good one!

Can an expense item be tagged to multiple projects?

For example, if I am a fashion brand, I may want to track profitability by my various sub-brands as well as by location. To do so, I have to assign multiple "projects" or "cost centres" to a single line item. Is this possible in QB? 

Regards 

Yes, you can tag your expense item to multiple projects, @JAGA84.

You'll want to ensure you have created an expense item and enable the Project feature in QuickBooks Online (QBO). This way, you'll be able to add your expense item to your projects. I'll show you how. 

1. Go to the Gear icon.
2. Select Products and services.
3. Click New.
4. Select Service.
5. Add a name for the item.
6. From the Category drop-down, select the category that best describes your product or service. 
7. In the Income account drop-down menu, select an expense account.
8. Fill in the needed information and select Save and Close.

You can also check this article for more details: Add product and service items to QuickBooks Online.

I’d also recommend working with your accountant for additional guidance in choosing the right account for the service item. This way, we can guarantee the accuracy of your accounts after recording this.

Then, to turn on and use the Project feature, you can refer to the steps outlined in these articles:  

• Set up and create projects in QuickBooks Online 
• Track income, costs, and profitability by project

Once done, you can now add your expense to a project. I've attached a screenshot for your visual reference. 

With regards to tracking your profitability by location, you can turn on the location tracking option. This feature helps you see and trace the payments for one location and deposit them as a group. 

Once you're all set, you'll want to run your reports regularly to check if everything is accurate.

Let me know in your comment if you have other follow-up questions about projects in QBO. You're always welcome in the Community space. Have a good one!

Hi There,

Is the cost center feature still missing in QB online?

Hi @Manny2022,

Thank you for dropping by here in the Community. I'm here to share an update about the feature in QuickBooks Online.

Currently, the ability to add a cost center feature is still unavailable. For now, you can follow the recommended troubleshooting steps provided by my colleagues above.

I encourage affected users to send feedback about the option you need directly to our engineers. We also make changes and adjustments based on user feedback.

Here's how:

1. Click the Gear icon in the upper-right corner.
2. Select Feedback under Profile.
3. Share your feedback.
4. Hit Next to submit.

Also, financial reports in QuickBooks give you tons of great info about your business. For more information about how to customize them, please visit this article: Customise reports in QuickBooks Online.

Don't hesitate to reach us here in the Community anytime you have questions or concerns about QuickBooks. The Community and I will be happy to help you some more.

Hi, 

If we have  multipal location restuarant, can we do profit centre and cost centre accounting via quick book

Hey there, @Mohammad Qazi.

For now, the option to perform profit centre and cost centre accounting is unavailable in QuickBooks Online (QBO). 

I can see how these features would help you in managing your business. Thus, I'll take note of this as a suggestion to improve your experience in QuickBooks. 

On the other hand, you can send feedback to our product developers. That way, they can review your request and most likely include them in future product enhancements. 

Here's how:

1. Go to the Gear menu and then select Feedback.
2. Type in your feature request in the description box.
3. Once done, click on Next.

You can also track feature requests through the Customer Feedback for QuickBooks Online website.

Moreover, you can utilize our location-tracking feature in QuickBooks. This will help categorise data from different locations, offices, regions, outlets, or departments of the same company. This also lets you see all the payments for one location and deposit them as a group.

I'll be right here to continue helping if you have any other concerns or questions about QuickBooks. Assistance is just a post away. Have a great day ahead.