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Welcome to QuickBooks Projects! Projects help you organize all the pieces that make up a project, including transactions, time, and running reports so you always know how your project’s doing. This feature is currently only for QuickBooks Online Plus in Canada, UK, United States and Australia.
Please see this article for more information about projects:
This is just the beginning for Projects, and we’d love your feedback. You’ll see a feedback button in your project. Tell us how it’s going and what we can do to make Projects better.Teri Wilt commented
I do not work for Intuit but I have done job/project cost accounting for over 30 years so I can't speak for them but I have seen this Q&A go on for decades and see why. What I see begins with lack of understanding on both sides (Intuit and users) as to what true job/project costing really is or what is required and you must first know to do it right. The amusing part to me is that there are so many people who think they were doing job costing on QBDT and lost it on QBO, and if what they were doing is all they needed/wanted/knew to do then sure it must seem like a loss to them, but FYI to those folks -- you did not really have true job costing with QBDT either so for me seems like no great loss there to be so upset about as QB, both QBDT or QBO have a long way to go to do true job cost accounting as it is intended to be utilized. True job/project (same thing) costing requires allocating TOTAL cost incurred by a company to one job or another, meaning every single penny spent by the company ultimately must be allocated to a job, no leftovers. Otherwise you are not looking at the true total cost of a job, it is just that simple. Without doing that, who is paying for those extra cost that are not billed on jobs, you are, as the biz owner you are eating those "leftover" cost not allocated to jobs, those are just coming right out of profit as you are not including them in jobs being billed to customers, which is so crazy to me. My guess is that someone at Intuit finally figured this out and now they are havng to re-think this since there is alot more to this to do it correctly and to offer same as in QBDT in QBO would be offering the same half-ass job costing as that was doing so I am just guessing enough people figured that out and complained that they were sold a system and told it does job costing when all it really does is let you add job codes to certain transactions, which are called Direct costs on jobs but there is zero system functionality for the part that requires a system, which is to allocate all of the other (indirect) costs to jobs too. My further guess is that this issue was likely brought to light as an issue by QB users, like my clients, who are all Govt contractors, which means they have grants or contracts with state or federal Govt where proper project costing is a REQUIREMENT of the contract, where they can actually lose a contract or not be awarded in the first place if they cannot pass audit of accounting system. I know all this very well since that is what my biz has done for the last decade, along with thousands of others who do the same work as me, to assist companies that want to become Govt contractors since there is alot of money to be made and Govt always pays and pays very timely IF you bill correctly can be as quick as 3-5 days so that is where the rubber meets the road and if you can't bill Govt correctly (properly allocating total cost to projects on a cumulative basis, you won't get paid till you do). So I can only imagine how many companies have run into that little surprise too late to not wreak havoc on their business with whatever they decide to do to resolve that issue to get paid for their work or worse how many could not resolve timely to keep their grant or contract and lose them or just lose alot of time and money sorting out. Either way, I assume Intuit has been blamed for this many times, maybe even sued since the financial impact on a small business could be devastating and close doors. So my guess is that Intuit is approaching job cost more carefully this time around to avoid those issues, since the only thing worse than no job costing is doing it wrong. I'm not looking to point fingers here or trying to get clients or whatever, just sharing since i keep seeing this battle go on for so long, where i don't think the real problem is even being discussed here yet and i keep waiting to see that discussion begin.
7 votes0 comments · QuickBooks Online Feature Requests » Sales Transaction · Flag idea as inappropriate… · Admin →Teri Wilt shared this idea ·