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How to Assign Cost Burdens to Jobs in QuickBooks for Contractors
Published 04/06/2010 | 
1. Go to Lists > Chart of Accounts and create two clearing accounts – a bank account and a cost of goods sold account. I like to name them something like clearing – should be $0.
2. Go to Lists > Items List and create an other charge item for the rental. Enter $70 for the Amount and the cost of goods sold account you created in Step 2 for the Account. Do not make this item two-sided.
3. Go to Banking > Write Checks. Select the clearing bank account created in Step 1 for Bank Account.
4. Select the Items tab and enter the rental item you created in Step 2 for the Item. Enter the Qty (hours) and the Customer:job.
5. Select the Expenses tab and enter the clearing cost of goods sold account created in Step 1 for the Account and a negative for the Amount to bring the total check to $0. Do not enter a Customer:job on this tab.
6. If everything was entered properly, both clearing accounts should still have a $0 balance but the job costing reports will show a balance for your rental under Other Charges. You might want to modify some reports so that accounts with $0 balances are hidden (Modify Report > Advanced > Display Rows Non-zero).
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth is the president of The QB Specialists, Inc. and has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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