here, we will discuss how to set up job-costing and item tracking in Quickbooks Desktop so that you can track payroll expenses by the job. It is very easy to set up the job costing and item tracking for payroll expenses in QuickBooks Desktop. So be with us to explore the steps to set up job-costing and item tracking in Quickbooks Desktop.
Steps to Set up Job Costing And Item Tracking In QuickBooks Desktop
Steps to Set up preferences
If you follow these to set up your preferences, then QuickBooks Desktop will help you automatically track expenses by job for company payroll expenses. [conditional show_hide=”show”]
- Go to the main menu, click on the Edit, and next select Preferences.
- Next, go to the left menu, and click on Accounting.
- Now, click on the Company Preferences tab.
- Look for a checkmark in the Use class tracking box and marked it checked. (Note: It is important to mark the check If this option is unmarked then the options to Assign one class per Entire paycheck or Earnings item will not be available.
- Click on the OK button.
- Now, go to the top menu bar, and click on Edit, and next Preferences.
- Next, go to the left pane list, and click on Payroll and Employees.
- Click on the Company Preferences tab.
- Give a checkmark in the Job Costing, Class, and Item tracking for paycheck expenses box and choose whether to track by Entire Paycheck or Earnings Item.
Suggested Read: How to Set up Job Costing in QuickBooks Online?
Steps to Track expenses by job
When you create or edit payroll items with additions, deductions, or company contributions, QuickBooks Desktop shows a checkbox. This checkbox is known as Track Access by Job in the Name is in the Paycheck and Payroll Reports window of the Payroll Item Setup Wizard. If you choose this box, Quickbooks Desktop prohibits the payment of employees in the same way that it does the taxes paid by the company. Check out the steps below for further guidance.
- Go to the Lists, and click on the Payroll Item List.
- Next, go to the Payroll Item and right-click on it, then click on Edit Payroll Item.
- Choose Track Expenses by Job. (These above steps are necessary to follow if you do not set up your job-costing preferences in QuickBooks Desktop then you will not be able to see the option to Track Expenses by Job while editing the payroll item.)
- Click on the Next till you can choose the Finish.
- Repeat these steps for every payroll item that you want to track.
Hope, this guide will be helpful for you to set up job-costing and item tracking in Quickbooks Desktop. Setting up job costing is a very easy task, but if in case you have any issue or problem then feel free to reach us by dialling our toll-free +1-844-770-0699 and get instant solutions from our Intuit certified ProAdvisors.