Job Cost Reporting in QuickBooks 2015 - dummies

Job Cost Reporting in QuickBooks 2015

By Stephen L. Nelson

Accounting may work a bit differently when a firm organizes its work into projects or jobs. In some situations, a firm needs to track revenues and expenses — not just by a standard chart of accounts, but also by jobs or projects. Fortunately, QuickBooks makes job costing, or project costing, pretty darn easy.

If you choose the Reports→Jobs, Time & Mileage command, QuickBooks 2015 displays a submenu of almost two dozen reports that supply job costing information. The report titles are pretty self-explanatory. Some reports give job profitability, and some reports identify the estimates associated with a particular job. Other reports compare job estimates with actual job costs. You get the picture.

Obviously, you want to experiment with these reports if you do begin to use job costing. These reports let you slice and dice your job accounting data in a bunch of ways. You should be able to use these reports (albeit with some modifications) to supply most of the information that you need to make good job costing decisions and to manage job costs.