16 Nov Advanced Job Costing
Advanced Job Costing Tip
TIP: If an item that is not an inventory part is being used for purchases and sales, it is important to have QuickBooks Pro or QuickBooks Premier to permit the purchase to be coded to an expense and the sales to be coded to income. Without the advanced job-costing feature included in QuickBooks Pro or QuickBooks Premier, both the purchase and sale will be coded to the same account when the item is used. The latter case would result in the net amount on the Profit and Loss report. To enter an account for purchases versus sales, check the box next to:
· For a service type item – performed by sub contractor, owner or partner
· For a non-inventory part – purchased for and sold to a specific customer job
· For an other charge – this is a reimbursable charge
List Limits Expanded
For most QuickBooks users, the list limit for the QuickBooks Pro and Premier products of 14,500 is sufficient. For some, however, that is not the case. We have been seeing increased list size for a variety of reasons. One of the most common is the increased number of customers as the result of web site sales. For version 6 and prior, the list limit was doubled for the Enterprise Solutions Product. New with version 7, the Enterprise Solutions limit has been removed.