Job Costing QuickBooks Online - Contractors

Learn to add projects in QuickBooks Online, assign them to customers, and track income, costs, and net profit. Manage time, estimates, invoices, and expenses across projects via the projects tab.

Learn to add items, products, and services in QuickBooks Online for job costing. Create two-sided items linked to sales income and cost of goods sold to populate invoices and expenses.

Enter beginning balances for jobs in QuickBooks Online, including direct materials, direct labor, and overhead, with one transaction linking job costing to the balance sheet and P&L.

Enter the beginning balances for job costing accounts with a single journal entry, then review the balance sheet and trial balance for cash, equipment, accounts payable, and retained earnings.

Record raw materials purchased on account with a bill, increasing raw materials and accounts payable. Hold the materials in a raw materials asset and allocate to jobs later.

Apply raw materials to multiple jobs in QuickBooks Online, posting to cost of goods sold and updating raw materials inventory through journal entries for each job.

Learn how to apply factory overhead to jobs in QuickBooks Online using allocation methods, direct and indirect costs, and journal entries to affect cost of goods sold.

Learn how to record a completed job in QuickBooks Online, invoice for it, and track costs against cost of goods sold while managing open and closed jobs.

Explore how to create and compare job estimates in QuickBooks Online, including entering line items, estimate statuses, and linking estimates to invoices for contractors.