QuickBooks Cost To Complete By Job Summary
Costs to Complete by Job Summary Report - After you enter an estimate for how far along each of your jobs are, this report will show a summary for the cost to complete each one that has an active estimate. In addition it also shows you how much you are over or under your estimate.
This Report Shows You - If your finances are on track for your active jobs with estimates, and what your expected cost is going to be to complete each of these jobs. You might want to run this report every few days or at least every week to keep a close eye on your expenses. Then if job costs start getting out of control you can take steps to correct it before it's too late.
On Each Job With An Active Estimate - The report shows estimated cost, percentage complete, and the actual cost incurred.
QuickBooks Shows - The projected cost to complete the job, expected actual cost (the actual cost you have input as of this day added to the estimated cost to complete), and the amount you are over or under your estimate.
QuickBooks Calculates Cost To Complete - And the expected actual cost of a job based on a summary estimate that has been entered for the job.
You Need To Input - How many of the estimate items are done so that when you run this report, QuickBooks will show the Updated Item Percent Complete. That is used to calculate how much of each work package or Item has been used.
Enter Percent Complete - For each item otherwise QuickBooks will calculate the item at zero percent complete.
The "% Complete" Column - Shows how the job is progressing as of the time and date when you ran the report. If you change the Columns drop-down list to something other than "Total only," this column will not change.
This Report Summarizes - The cost to complete jobs that have active estimates at any given time you run it.
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Sharie DeHart, QPA, is the President of Business Consulting And Accounting (Fast Easy Accounting) in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or firstname.lastname@example.org.