QuickBooks Job Costing Series: Setting Up Payroll

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Join Ruth Perryman, president of The QB Specialists, for a 4-part series about how to use QuickBooks for job costing.

Get an in-depth look at job costing through a series of four Intuit Small Business Town Halls every Tuesday in August at 9:00 A.M. PDT. Here's what we'll be covering:

August 4th: Setting up Preferences and Items
August 11th: Working with Estimates
August 18th: Setting up Payroll
August 25th: Understanding Job Cost Reports

No registration required and it's absolutely free. We will start gathering in the Intuit Ask the Expert Town Hall around 8:30 and the session will begin at 9:00. Webcams are permitted and highly encouraged here. If you don't have a webcam, you can always submit a question in chat. Still have questions?

Ruth will follow these sessions with a week in our Ask the Expert forums at the end of August. Get more in-depth answers to your toughest job costing questions.

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QuickBooks Job Costing Series: Setting Up Payroll

  1. 1. Job Costing Series: Setting up Payroll presented by Ruth Perryman, owner of The QB Specialists Certified Advanced QuickBooks ProAdvisor Intuit Solutions Provider www.theQBspecialists.com Sales: 800-707-0940 ▪ Support: 888-351-5285
  2. 2. Labor & Labor Burden • Important to include on job costing reports • If you don’t include them, jobs will look far more profitable than they really are • In addition to job losses, can lead to inaccurate estimates on future jobs
  3. 3. Preferences & Items • General items (Edit > Preferences) – Payroll & Employees • Select “Full Payroll” or “Complete Payroll Customers” – you’ll need a subscription • Check “Job Costing, Class and Item tracking for paycheck expenses” – Time & Expenses • Select Yes under “Do you track time?” • May also want to check “Create invoices from a list of time & expenses” • Payroll items (Lists > Payroll Items) – Payroll items can only map to one expense account, so you may want to setup separate ones for COGS and overhead payroll expense – You can’t assign have two payroll items for payroll taxes – check out my workaround at http://tinyurl.com/kkzlw7 – Check “Track expenses by job” on every Addition and Company Contribution item
  4. 4. Setting up Employee Records • Employee records – Double-click on employee name in the Employee Center – Change Tabs: Payroll & Compensation Info – Check “Use time data to create paychecks” • Default for new employees – Click Manage Employee Information > Change Employee Default Settings in Employee Center – Check “Use time data to create paychecks
  5. 5. Worker’s Compensation • Setup worker’s comp at Employees > Workers Compensation > Setup Workers Comp • Setup worker’s comp codes at Employees > Workers Compensation > Workers Comp List • Make sure Workers Comp payroll item has “Track expenses by job” checked
  6. 6. Time Sheets/Paychecks • Timesheets (Employees > Enter Time > Use Weekly Timesheet) – Complete all information including customer:job, payroll item & service item (these are different), WC Code – mark as billable if you use time & material billing – You may want to add a customer:job for overhead – Consider using Time Tracker or WorkTrack Time Card so employees can enter their own time

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