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You are here: Experts > Shopping > Credit/Debt Management > Quicken & Other Budget/Accounting Software > cost to complete report, over/under column
Expert: Linda Saltz, CPA, QBalance.com
Date: 9/15/2008
Subject: cost to complete report, over/under column
Question
QUESTION: ok more questions..i am using the cost to complete report, in the over/under column if you do not have a percent filled out then it will automatically put you over the amount that you wrote the ck. for... then that throws off my over/under total. is there anyway to make the over/under total 0 if the job isnt closed out? example:
Items Est.Cost %Complete Act.cost Over/Under
Brick mat. $1500 - $2000 $2000
i would like the over and under column to say 0 if i dont have a %complete entered or until i am %100 complete..is that possible?
ANSWER: HI Brooke,
No. That report helps to identify problem jobs. So you should be entering a % complete if there are any costs incurred to date.
In the example you gave you may have purchased the material but not started the job. The % complete is based on costs incurred to date plus estimated costs to complete the job over costs incurred to date.
So say you have $2000 in materials and expect to spend another $800 in labor. Your current estimate for total job cost is 2800,
So 2000 divided by 2800 is 71% complete which is what you should be entering in the % complete.
Hope this helps,
Linda Saltz, CPA
Advanced Certified QuickBooks Advisor
www.qbalance.com
---------- FOLLOW-UP ----------
QUESTION: ok so are you saying..i divide my est. cost from my act. cost? what it i have a job such as heating (labor and material) and it was a set price such as $3000. how would i find out the %complete?
ANSWER: Hi Brooke,
Sorry for the delay
You need to enter the estimate with the costs and the profit. Take a look at the help menu about group items and customizing the estimate to show the cost column and the markup column. Also look at the sample files that are installed with your QuickBooks. The owner or the estimator or you should be entering the estimate into QuickBooks with the following information
Group item
Labor xx hours @ xx cost per hour plus $xx profit = labor portion
Material xx cost plus xx profit = Material portion
End Group item - Price as Quoted $3000
With the above information you now can compare total costs to day
vs total cost per job.
Hope this helps,
Linda Saltz, CPA
Advanced Certified QuickBooks Advisor
www.qbalance.com
We sell QuickBooks Supplies (checks & 1099s) at a discount
---------- FOLLOW-UP ----------
QUESTION: hi. i am looking for a report that will show all of my CHECKS paid out (check only, no debits) please tell me which report you would suggest and how to get to that report from the drop down bar. thanks!
Answer
We will need to create this from scratch and then memorize it
Reports > Co Financial > Balance sheet standard > zoom in on the amount for the checking account > click Modify report> In the display tab for the DATES choose "this month to date" > Click on the filter tab > filter for transaction type> from the drop down menu
choose Multiple transactions types > place a check next to check, bill payment, journal, sales tax payment, Paycheck, Payroll liability check > Click on the Header Footer and enter a name for this report such as "Bank of America checks and other outflows" >
Click OK
Now Click Memorize and save it in the group "banking" for easy retrieval.
Hope this helps,
Linda Saltz, CPA
Advanced Certified Quickbooks advisor
www.qbalance.com
We sell QuickBooks Enterprise and QuickBooks software.
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