QuickBooks Desktop Job Costing
4.3 (25 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
13,659 students enrolled

QuickBooks Desktop Job Costing

Learn job costing in QuickBooks from a CPA - Create estimates, run job costing reports, track inventory parts, & more
4.3 (25 ratings)
Course Ratings are calculated from individual students’ ratings and a variety of other signals, like age of rating and reliability, to ensure that they reflect course quality fairly and accurately.
13,659 students enrolled
Last updated 10/2019
English
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Current price: $139.99 Original price: $199.99 Discount: 30% off
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This course includes
  • 10.5 hours on-demand video
  • 12 articles
  • 7 downloadable resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
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What you'll learn
  • Four methods to run a full job costing system in QuickBooks
  • How to enter estimates
  • How to create and use two sided items in a job cost system
  • How to track inventory parts in a job cost system
  • How to generate and analyze job costing reports
  • How to use classes in a job costing system
Requirements
  • Understanding of accounting concepts
Description

This QuickBooks Desktop 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.

The course will include four example problems demonstrating different job costing systems and methods that can be used.

We will provide backup files so learners can jump forward in the problems or rework any component of a problem. The use of backup files is not a requirement of the course, however.

If you have an older version of the software and cannot use backup files, you can still work the practice problems from start to finish. We will be creating new files for each practice problem so learners can follow along from start to finish without the need for a backup file.

The course will start out reviewing a job costing system, gaining an understanding of the objectives of a job costing system. Then we will discuss the tools provided by QuickBooks to achieve our objectives in the QuickBooks software.

We will start by reviewing the end products of the four job costing system practice problems we will be creating in later in the course. This review process will allow us to visualize where we are headed in the course. Then we will start working problems from start to finish.

Our first QuickBooks problem will run a job cost system in QuickBooks using a work in process or WIP account to track costs. We will start out using a limited number of accounts and items and walk through each step in detail.

The second QuickBooks problem will run a job cost system in QuickBooks, focusing on the Cost of Goods Sold account. We will use a small number of accounts and items. We will discuss adjusting entries that can be used to adjust the financial statements to the appropriate accounting method required.

The third QuickBooks problem will run a job cost system in QuickBooks with the use of more accounts and items, resulting in a system that provides more detailed reports.

The fourth QuickBooks problem will run a job cost system in QuickBooks with the use of the classes feature. We will discuss the pros and cons of using this option.

Who this course is for:
  • Business professionals in an industry using job costing
  • Accounting professionals who want to learn job costing
  • Students who want to apply job costing concepts to accounting software
Course content
Expand all 78 lectures 10:44:20
+ Job Costing Process # 1 Overview & Objectives
7 lectures 59:47
2 Job Costing Process # 1 Overview & Objectives
01:09
Download Excel Practice file
00:01
120 Excel Problem Tracking WIP
32:51
Download Backup Files
00:06
130 Review Job Cost System 1
21:40
Accounting Comic Break
00:15
+ Job Costing Process #s 2, 3, & 4 Overview & Objectives
11 lectures 01:08:42
3 Job Costing Process #s 2, 3, & 4 Overview & Objectives
00:58
Download Backup Files
00:06
Download Excel Practice file
00:01
135 Excel Problem Tracking COGS
30:35
140 Restore Backup File 140
02:26
145 Review Job Cost System 2
10:26
150 Restore QuickBooks File 150
02:03
155 Review Job Cost System 3
09:36
160 Restore Backup File 160
01:45
165 Review Practice Problem 4
10:31
Accounting Comic Break
00:15
+ Job Costing Process # 1 Tracking Work in Progress
18 lectures 02:27:28
4 Job Costing Process # 1 Tracking Work in Progress
01:10
Download Backup Files
00:06
Download Excel Practice file
00:01
327 Set Up Estimates For Jobs
09:17
330 Set Up WIP Beginning Balances
12:55
335 Enter Beginning Balances
07:42
340 Purchase Raw Materials On Account
06:01
345 Direct Materials Used in Job
09:31
350 Direct Labor Applied to Jobs
09:38
355 Factory Overhead Applied to Job
12:41
360 Factory Overhead Incurred
18:16
365 Job Completed & Not Billed
08:43
370 Job Closed & Invoiced
21:47
375 Close Balance In Factory Overhead
06:12
Accounting Comic Break
00:16
+ Job Costing Process # 2 Tracking COGS with Fewer Accounts
14 lectures 02:00:04
5 Job Costing Process # 2 Tracking COGS with Fewer Accounts
01:15
Download Backup Files
00:06
Download Excel Practice file
00:01
410 Create QuickBooks File
03:28
415 Factory Overhead
08:25
420 Enter Beginning Balances for Jobs & Accounts
15:52
425 Purchase Raw Materials On Account
05:41
430 Raw Materials Used & Applied to Job
10:22
435 Enter Job Estimates
08:30
440 Apply Direct Labor Cost to Jobs
09:17
445 Apply Overhead to Jobs
27:57
450 Record Job Completion & Invoicing
20:33
455 Adjusting Entry
08:22
Accounting Comic Break
00:15
+ Job Costing Process # 3 Tracking COGS with More Accounts
13 lectures 02:02:08
6 Job Costing Process # 3 Tracking COGS with More Accounts
00:50
Download Backup Files
00:06
Download Excel Practice file
00:01
510 Create QuickBooks File
02:36
515 Set Up Jobs, Items, & Accounts
17:34
517 Enter Job Estimates
13:15
520 Enter Beginning Balances For Jobs & Accounts
14:49
525 Purchase Raw Materials On Account
05:41
530 Raw Materials Used & Applied to Job
17:47
540 Apply Direct Labor Cost to Jobs
11:08
545 Apply Overhead to Jobs
22:25
550 Record Completion of Job & Invoicing
15:40
Accounting Comic Break
00:16
+ Job Costing Process # 4 Using Classes to Track Jobs
13 lectures 01:51:15
7 Job Costing Process # 4 Using Classes to Track Jobs
00:55
Download Backup Files
00:06
Download Excel Practice file
00:01
610 Create QuickBooks File
04:27
613 Turn On Class Tracking
02:38
615 Set Up Jobs & Classes
09:19
617 Set Up Accounts
08:23
620 Enter Beginning Balances For Jobs & Accounts
19:26
625 Purchase Raw Materials On Account
20:11
640 Apply Direct Labor Cost to Jobs
09:41
645 Apply Overhead to Jobs
26:27
660 Selling & Administrative Expenses
09:26
Accounting Comic Break
00:15