Exactly what I was looking for to understand Projects. Coming from desktop, online is so different. The fact that it doesn't automatically connect payroll is bewildering but this helps a lot. It'd double entry but better than nothing I suppose. Thank you for the video.
What do we do if we have already been using QBO, but now want to start using 'Project" for existing on going deals? Can we start a project, then add the info for invoices that have already been sent, maybe even paid? Then we would also like to back in some already performed labor and parts that have been used to check profitability. Can we start using Projects for existing projects, or do we are we only able to use projects for new ones as they start up?
I would like to know the answer to the question above. We have invoices that have been sent and paid so when I add the expenses to a project, it throws the bank balance off.
Thanks.. On setting up project, how can I manage a project that has the total cost of the project, but requires invoicing at different stage of the project (Mobilization, 1st, 2nd, 3rd milestone demobilization) payment, this is to enable me keep track of invoiced amount and balance from the total cost of projects
Hi, Thank you for the video, it was very helpful! I wanted to know if within the same project, if it can be broken down by categories. For example, I have a flooring company. I sell material as well as labor in the same project. Is there a way to separate expense and profit for each of these categories? That way I know how much profit I made on selling the material as well as for installation. Thank you for your help!
Hi Thanks for your quick explanation, We are in construction projects every month manpower will differ, we cant add at one time, how to add manpower management with project track sheet to see the expanses monthly.. eg project duration 6 months so need to see from every month how much spend on man power same other expanses adding option.
Great video. Is there any way to get the project name to appear on the invoice? Only the customer name appears. That’s fine unless you have multiple projects for the same customer (I often do). That customer needs to know what project the invoice is to be billed to!
May I ask a question? How do we first devise an estimate and then track project expenses against the estimate? I am doing books for a custom home builder who charges cost-plus. Virtually all of our expenses are billable with a markup. I understand how to make an expense billable, but I need an added step. Note: using QBO Plus. The added step I need is to get each customer invoice onto a ledger (perhaps not the proper term, but think of a spreadsheet) that matches the amount billed to the customer against what is set in a line item budget/estimate. Again, we have about 150 items (individual products and services) in our estimate to match. (Another question might be how to import an estimate?) A custom home building project unfolds over time. Between pricing the job and ordering materials, prices often change. So we need extreme granularity so that each time an item goes over budget (actually, the estimate) we can check everywhere else for a savings. Let’s say we have multiple expenses under the category of site work. We get a bill from a subcontractor who installed a septic tank. So when we bill the customer, how do we get that charge onto a spreadsheet in a column next to what was estimated for “septic tank installation” under the category of “site work”? We have to show our customer each month where the project stands compared to the estimate. I hope I’ve explained my situation clearly? Thanks for any help.
Most definitely. You really need to set up a process of gathering all your info, recording it and closing out the month. In general all costs and revenue go to each individual project so you can track your PL by job
I am also setting up the books for a custom home builder. Having hard time finding info for setting an estimate and then measuring how the expenses measure against the estimate. We do cost-plus billing. If you find anything helpful, would appreciate hearing about it. Thanks.
How can I add a project address to each project individually, I got several customers with different projects each one, and I want time app to only let employees clock in when they are at that location, this is why I need to add a project address to each project.
I have a Wedding Business and need to track income from before using QuickBooks, for example; the Bride and Groom made a deposit for their 2021 Wedding in 2019. Is there a way to show this income?
Yes. Technically when you get the deposit it’s not income, it’s a liability. So when you started QB you should have some kind of balance sheet that would have had this liability on it. You would have to record that opening balance sheet in QB so that you can take it out of liabilities and move it to income
Thanks for the video! What do I should do to edit the costumer that was assigned to a project?. I chose the wrong costumer when i created the project. I am trying to edit but QBO+ does not show me the option it only shows project name and note.
Hi. I have a question , so lets say I have an estimate that has been already created , and I want to create a project under that Estimate , How do I do that , please help me out with this?
@@QbuniversityOrg Very good. We have a 22 year-old company file and it has evolved some inefficiencies. Hoping to harness the Jobs function to make things simpler - and more accurate.
Does the expenses that were input go onto the outgoings for the main business, or do they need to be put on separately there too. I'm not sure if it duplicates
Feel free to leave a comment or question here!
How can i find the project tab I can't find it plz need your help!!
@@alymartinez332 have you turned on project tracking in settings?
Exactly what I was looking for to understand Projects. Coming from desktop, online is so different. The fact that it doesn't automatically connect payroll is bewildering but this helps a lot. It'd double entry but better than nothing I suppose. Thank you for the video.
You're welcome!
What do we do if we have already been using QBO, but now want to start using 'Project" for existing on going deals? Can we start a project, then add the info for invoices that have already been sent, maybe even paid? Then we would also like to back in some already performed labor and parts that have been used to check profitability. Can we start using Projects for existing projects, or do we are we only able to use projects for new ones as they start up?
I would like to know the answer to the question above. We have invoices that have been sent and paid so when I add the expenses to a project, it throws the bank balance off.
Thanks.. On setting up project, how can I manage a project that has the total cost of the project, but requires invoicing at different stage of the project (Mobilization, 1st, 2nd, 3rd milestone demobilization) payment, this is to enable me keep track of invoiced amount and balance from the total cost of projects
Hi, Thank you for the video, it was very helpful! I wanted to know if within the same project, if it can be broken down by categories. For example, I have a flooring company. I sell material as well as labor in the same project. Is there a way to separate expense and profit for each of these categories? That way I know how much profit I made on selling the material as well as for installation. Thank you for your help!
Hi Thanks for your quick explanation, We are in construction projects every month manpower will differ, we cant add at one time, how to add manpower management with project track sheet to see the expanses monthly.. eg project duration 6 months so need to see from every month how much spend on man power same other expanses adding option.
Great video. Is there any way to get the project name to appear on the invoice? Only the customer name appears. That’s fine unless you have multiple projects for the same customer (I often do). That customer needs to know what project the invoice is to be billed to!
May I ask a question?
How do we first devise an estimate and then track project expenses against the estimate?
I am doing books for a custom home builder who charges cost-plus. Virtually all of our expenses are billable with a markup. I understand how to make an expense billable, but I need an added step.
Note: using QBO Plus.
The added step I need is to get each customer invoice onto a ledger (perhaps not the proper term, but think of a spreadsheet) that matches the amount billed to the customer against what is set in a line item budget/estimate. Again, we have about 150 items (individual products and services) in our estimate to match.
(Another question might be how to import an estimate?)
A custom home building project unfolds over time. Between pricing the job and ordering materials, prices often change. So we need extreme granularity so that each time an item goes over budget (actually, the estimate) we can check everywhere else for a savings.
Let’s say we have multiple expenses under the category of site work. We get a bill from a subcontractor who installed a septic tank. So when we bill the customer, how do we get that charge onto a spreadsheet in a column next to what was estimated for “septic tank installation” under the category of “site work”?
We have to show our customer each month where the project stands compared to the estimate.
I hope I’ve explained my situation clearly?
Thanks for any help.
I don't why I don't have "overview" in Project in my QBO plus. Can you tell me please if you know
I’d be interested if you have any specific methodology for using projects in a home building company? This was a great video!
Most definitely. You really need to set up a process of gathering all your info, recording it and closing out the month. In general all costs and revenue go to each individual project so you can track your PL by job
I am also setting up the books for a custom home builder. Having hard time finding info for setting an estimate and then measuring how the expenses measure against the estimate. We do cost-plus billing. If you find anything helpful, would appreciate hearing about it. Thanks.
How can I add a project address to each project individually, I got several customers with different projects each one, and I want time app to only let employees clock in when they are at that location, this is why I need to add a project address to each project.
Hi actually I m looking for tutions for learning quickbooks could you help me please
What are you looking for?
If projects function is not on already, does turning it on change any legacy data in quickbooks or does it just enable this function going forward?
It just changes it going forward.
I have a Wedding Business and need to track income from before using QuickBooks, for example; the Bride and Groom made a deposit for their 2021 Wedding in 2019. Is there a way to show this income?
Yes. Technically when you get the deposit it’s not income, it’s a liability. So when you started QB you should have some kind of balance sheet that would have had this liability on it. You would have to record that opening balance sheet in QB so that you can take it out of liabilities and move it to income
Thanks for the video! What do I should do to edit the costumer that was assigned to a project?. I chose the wrong costumer when i created the project. I am trying to edit but QBO+ does not show me the option it only shows project name and note.
Can you just delete the project since it was incorrect and create a new one?
I fixed . From costumers and edit . Thanks
@@meybernazaros2611 awesome!
Hi.
I have a question , so lets say I have an estimate that has been already created , and I want to create a project under that Estimate , How do I do that , please help me out with this?
Did you ever find any info on how to do this?
@@dappledandy yeah I did
Hi, can you add purchase orders to quickbooks?
Yes you can. Search my channel on how to do this
Is this similar to setting up jobs in QB 2021 desktop?
Yep except Jobs are way easier in desktop
@@QbuniversityOrg Very good. We have a 22 year-old company file and it has evolved some inefficiencies. Hoping to harness the Jobs function to make things simpler - and more accurate.
@@annanelson6830 great!
Does the expenses that were input go onto the outgoings for the main business, or do they need to be put on separately there too.
I'm not sure if it duplicates
@@alfiesplanet9554 they don’t need to be entered separately
Why would you not set up a project?
Some companies don’t need them
Good Information but you may want to zoom your screen and it’s very hard to see what you’re doing
Thanks! Make sure to expand you’re video to see it full screen