QuickBooks job budgets

Can someone point me to an article that specifies how to assign a budget to a specific job. (I want a warning to appear if I exceed a budget.) I'm running QuickBooks Premier.

Thanks.

J
jdanaAsked:
Who is Participating?
I wear a lot of hats...

"The solutions and answers provided on Experts Exchange have been extremely helpful to me over the last few years. I wear a lot of hats - Developer, Database Administrator, Help Desk, etc., so I know a lot of things but not a lot about one thing. Experts Exchange gives me answers from people who do know a lot about one thing, in a easy to use platform." -Todd S.

JohnBusiness Consultant (Owner)Commented:
To set up a budget in QuickBooks, go to Company, Planning and Budgeting, Set up Budgets.

On the right hand side, there is a button for setting up a new Budget. Pick the fiscal year, and choose Profit and Loss, then Next. On the following screen you will see a selection for Customer:Job. Choose that selection and now you can choose the Customer:Job and set up the budget.


Here is a help article on this subject:

http://www.cmmtax.com/quickbookstips.php?cat=Advanced+Features&tipid=34

Look down the article for the Budget Heading.

... Thinkpads_User
0

Experts Exchange Solution brought to you by

Your issues matter to us.

Facing a tech roadblock? Get the help and guidance you need from experienced professionals who care. Ask your question anytime, anywhere, with no hassle.

Start your 7-day free trial
QBalance_QuickBooks_AdvisorCommented:
QB will not provide a warning when going over budget.  You have to  run a report to determine your status.

I recommend using an estimate rather than budgets in QB.  That way when jobs span
over a year there is nothing more that needs doing.

The next change you need to make is to use the ITEM tab on Bills, checks, Credit card charges for any job costs.  You need to create items (pointing to specific chart of accounts) and use the item tab for every job expense (Labor , Material, Rentals, Subcontractors)

Some people prefer to use just one item call Job costs and then set up classes to represent the expense categories, others will set up an item for each expense, using noninventory items for materials.  If you leave the description blank on the item, then any description you post on the bills/checks/credit card transactions will appear on invoices or reports.

To see where you stand with the job
Reports > Jobs and Time >  Job estimate vs Actual Detail.

Keep in mind that this report will incorporate only posted transactions (not purchase orders)
A $50 add on report writer will take it to the next level
http://www.q2q.us/JCROverview.htm

Linda Saltz
QBalance.com
0
JohnBusiness Consultant (Owner)Commented:
I manage budgets and estimates outside of QuickBooks for tracking and measuring.

You can do Budgets and/or Estimates by Customer:Job using the method I outlined above. Then you can report either compared to actuals and then the resulting report can be exported to Excel for measurement and warning tracking.

... Thinkpads_User
0
jdanaAuthor Commented:
Thanks!
0
JohnBusiness Consultant (Owner)Commented:
@jdana - Thanks, and I was happy to help.

.... Thinkpads_User
0
It's more than this solution.Get answers and train to solve all your tech problems - anytime, anywhere.Try it for free Edge Out The Competitionfor your dream job with proven skills and certifications.Get started today Stand Outas the employee with proven skills.Start learning today for free Move Your Career Forwardwith certification training in the latest technologies.Start your trial today
QuickBooks

From novice to tech pro — start learning today.