Job Costing in QuickBooks: Tracking and Managing Project Expenses
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Job costing in QuickBooks is a method used to track and manage the costs associated with specific projects or jobs. It allows businesses to assign expenses such as labor, materials, and overhead to particular jobs, providing detailed insights into profitability. In QuickBooks, users can set up jobs under customers, where each job can have its own set of costs. As expenses are incurred—whether through bills, checks, or time tracking—these can be assigned directly to the job. QuickBooks also enables users to create estimates, track progress, and compare actual costs against estimated costs, helping to identify areas for improvement. By generating detailed job reports, businesses can see whether a project is on budget or running over, allowing for better financial decision-making. This feature is especially useful for contractors, service providers, and other businesses that work on a project basis.
