
Record beginning balances for job 15 in QuickBooks Online, including direct materials, direct labor, and factory overhead, in one transaction to connect job costing with financial statements.
Record the purchase of raw materials on account in quickbooks desktop, debiting raw materials inventory and crediting accounts payable, then allocate to jobs to affect cost of goods sold.
Apply direct labor to specific jobs in QuickBooks Online, allocating 218,000 across jobs 14, 15, and 16 via journal entries and cost of goods sold, with payroll and contractor considerations.
This QuickBooks Job Costing course will provide the resources for learners to develop a solid understanding of job costing concepts and the tools QuickBooks provides to create an effective job costing system.
We will provide backup files for the desktop version so learners can jump forward in the practice problem or rework any component of the problem. The use of backup files is not a requirement of the course, however.
The course will start out by reviewing our objectives for a job costing system. We will get an understanding of the special needs related to job costing. Then we will discuss the tools QuickBooks software has to achieve those objectives.
We will learn how to create and use two-sided, or double-sided, items in our QuickBooks job costing system, a critical component to understand.
Learners will understand how to generate, analyze, and export to Excel job costing reports and financial statements.