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I don't use the Payroll feature of QBO. I use QBO Essentials.
My question is how do I track Cost of Labor manually?
I know I need to debit the COLS account, but my brain can't figure out the other half of the entry.
Can anyone help me out?
Good day, mrondeau.
Let me help you track the Cost of Labor in QuickBooks Online (QBO).
You can turn on and use the Time Tracking feature to track the labor cost. Let me outline the steps for you.
After turning on the Time Tracking, you can start marking timesheets as billable. Here's how:
I'm adding this article in case you need to access reports and add a user to time track only: Learn how to turn on and set up time tracking in QuickBooks Online Essentials and Plus.
In addition to this, QBO uses Projects to track your labor costs and profitability. However, this function is available in the Plus version. If you wish to upgrade, check out this article for instructions: Upgrade or downgrade your QuickBooks Online subscription.
Then, browse these articles to learn how to set up a project.
Stay in touch with me by commenting below if you have follow-up questions about tracking the Cost of Labor. I'm always around to provide the information that you need.
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