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What is Job Costing, WIP Report, Custom Fields in QuickBooks?

When you hear the term ‘Job Costing‘, it is used in business accounting that means to track the cost and […]


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When you hear the term ‘Job Costing‘, it is used in business accounting that means to track the cost and revenues of a job and the standard reporting of profit by the said job. Job costing is a term that is used for tracking labor com materials, and overhead costs related to specific jobs that use the information to check if the cost can be decreased for future jobs.

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Dancing Numbers helps small businesses, entrepreneurs, and CPAs to do smart transferring of data to and from QuickBooks Desktop. Utilize import, export, and delete services of Dancing Numbers software.

Since it is quite important, QuickBooks Online can help perform the job for 1099 contract costs and other expenditures. Read more to find out about the steps to perform job costing in QuickBooks online.

Before connecting and tracking costs, you need to have QuickBooks online plus subscription because the budget segment is not available for those using Simple Start and Essential levels.

How to Enable Job Costing in QuickBooks?

Follow the below mention steps to enable job costing in QuickBooks:

Step 1: Track Expenses by the Customer

The first step is to track expenses by customers, and for that, one needs to adjust their expense tracking preferences in the company setting. So, select the company name or gear icon in the top right-hand corner of the QuickBooks online screen, and then select the company setting.

Move to the sales tab on the sales form content from the menu, and click on the box next to the customer transaction number.

The next task is to tell QuickBooks online that you want to track the expenses by the customer, and if you want, you can also mention that you want to make expenses and items billable.

To conduct this, you need to select the ‘Expenses‘ tab in the setting screen and then click on the bills and expenses and edit it.

Now you need to click on ‘Show Items Table on Expenses and Purchase Form‘, ‘Track Expenses by Customer‘, and ‘Make Expenses and Items Billable‘.

Now do not forget to click on the safe button to ensure that all the changes that you have made are saved and applied.

Now select the advanced tab in the settings cream and select the automation from the menu. Next, click on the check box next to copy estimates to invoices and then click the save and done button.

Step 2: Update Setting on the Customer List

The second step of job costing is adjusting the customer list setting. You need to use the sub-customers, who are also called jobs, when you use the Desktop Editions of QuickBooks and select the bill with parent option in the customer preferences.

Step 3: Adjust Setting on Products and Services

The 3rd step of job costing is using the products and services, Also called the item list, When you use the QuickBooks Desktop Editions. Now you need to convey to QuickBooks online that you want to purchase each of them for a vendor.

Moreover, You do not need to set up everything on the list, Only those you want to pay a contractor or a product you want to purchase for selling purposes. If you want to have access to the least, You need to select the company name and then select the products and services from the list menu.

Step 4: Submit Estimates and Invoices

Usually, The workflow is to design and estimate, Get your customer to approve it, and then turn the Estimate into an invoice. To develop an estimate, The best way is to use the quick create button, Which is the term used in QuickBooks for the + that you can see on any QuickBooks online screen.

You need to enter the details into the estimate form, Click the save button, And send the invoice to your customer.

Now the customer needs to approve the estimate, and then you can convert it to an invoice.

How to Develop a WIP (Work-in-progress) Report in QuickBooks?

If you are thinking about creating a work-in-progress or WIP report, You can follow the steps below:

Step 1: Create a new account and name it work in progress.

Step 2: Now you need to change the item account from an expense account to a service item. Now go to the list-menu and, click on the item list and add the other charges items.

Step 3: You can produce a report to track the amount of work in progress by the job. To do that, you must click on the reports menu, then click on customer reports and then summary.

Step 4: Now click the customize report lab and click on display. Click on the display columns using the drop-down arrow and select the account list option.

Step 5: Select the display roll using the drop-down arrow and select customer. Now click the filter tab.

Step 6: Moving on, Select the account drop-down arrow and click on WIP account.

Step 7: Select okay once you are Done.

How to Create Customs Fields in QuickBooks Online?

If you want to create customs fields in QuickBooks you need to follow the below steps:

Step 1: To create custom fields in QuickBooks online, Follow the points below.

Step 2: Then, Click on settings and select custom fields.

Step 3: Choose to add a custom field. If you have created a field, Then click on add field.

Step 4: Give a name to your custom field.

Step 5: Select the type of data in a custom field. Then, Click on the drop-down list and at the items in the list.

Step 6: Click the category in the custom field belonging to the customer transaction or vendor.

Step 7: Choose the forms that you want the custom field to appear.

Step 8: Select print on the form if you want your customers or vendors to notice the field on the form.

Step 9: When you are done, Select the save button.

The article sheds light on the Best Version of QuickBooks intended for businesses looking for solutions. In addition, you get to know about job costing, WIP reports, and how to create custom fields.

However, If you cannot understand the versions, It is wise to take the help of Dancing Numbers expert. They will explain the various features involved in the versions and how you can use them according to your need.

If you have further queries about the best QuickBooks version fit for businesses looking for job costing, WIP, and custom fields, then you can connect with Dancing Numbers experts via LIVE CHAT.

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Looking for a professional expert to get the right assistance for your problems? Here, we have a team of professional and experienced team members to fix your technical, functional, data transfer, installation, update, upgrade, or data migrations errors. We are here at Dancing Numbers available to assist you with all your queries. To fix these queries you can get in touch with us via a toll-free number
+1-800-596-0806 or chat with experts.


Frequently Asked Questions (Faqs)

How to Use QuickBooks in MAC?

If you want to use QuickBooks in MAC you need to follow the below points:

Step 1: Click on the Lists, then choose the list you want to see.

Step 2: Click on the Customer, Employee, or Vendor for Editing, then click the Pencil.

Step 3: On the Additional Info tab, click on Define Fields.

Step 4: Select OK.

How to Track Job Costs in the QuickBooks Desktop Version?

When you decide to track job costs in the QuickBooks desktop version you need to follow the below steps:

Step 1: Create a customer: Job for each of your jobs.

Step 2: Allocate all your expenses to jobs.

Step 3: Add your particular estimates in the given QuickBooks Desktop.

Step 4: Create appropriate invoices.

Step 5: Operate the job costing reports to check how your business is running on a job-by-job basis.

Features of Dancing Numbers for QuickBooks Desktop

Imports

Imports

Exports

Exports

Deletes

Deletes

Customization

Customization

Supported Entities/Lists

Dancing Numbers supports all QuickBooks entities that are mentioned below:-

Customer Transactions

Invoice
Receive Payment
Estimate
Credit Memo/Return Receipt
Sales Receipt
Sales Order
Statement Charge

Vendor Transactions

Bill
Bill Payment
Purchase Order
Item Receipt
Vendor Credit

Banking Transactions

Check
Journal Entry
Deposit
Transfer Funds
Bank Statement
Credit Card Statement
Credit Card Charge
Credit Card Credit

Employee Transaction / List

Time Tracking
Employee Payroll
Wage Items

Others

Inventory Adjustment
Inventory Transfer
Vehicle Mileage

Technical Details

Easy Process

Easy Process

Bulk import, export, and deletion can be performed with simply one-click. A simplified process ensures that you will be able to focus on the core work.

Error Free

Error Free

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We provide round the clock technical assistance with an assurance of resolving any issues within minimum turnaround time.

Pricing

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Importer, Exporter & Deleter

*See our Pricing for up to 3 Company Files

$199/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Unlimited Export
  • Unlimited Import
  • Unlimited Delete

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Accountant Basic

*See our Pricing for up to 10 Company Files.

$499/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer,Exporter,Deleter
  • Unlimited Users
  • Unlimited Records
  • Upto 10 companies

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Accountant Pro

*See our Pricing for up to 20 Company Files.

$899/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 20 companies

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Accountant Premium

*See our Pricing for up to 50 Company Files.

$1999/- Per Year

Pricing includes coverage for users
  • Services Include:
  • Importer, Exporter, Deleter
  • Unlimited Users
  • Unlimited Records
  • Up to 50 companies

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Frequently Asked Questions

 
How and What all can I Export in Dancing Numbers?

You need to click "Start" to Export data From QuickBooks Desktop using Dancing Numbers, and In the export process, you need to select the type you want to export, like lists, transactions, etc. After that, apply the filters, select the fields, and then do the export.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop.


How can I Import in Dancing Numbers?

To use the service, you have to open both the software QuickBooks and Dancing Numbers on your system. To import the data, you have to update the Dancing Numbers file and then map the fields and import it.


How can I Delete in Dancing Numbers?

In the Delete process, select the file, lists, or transactions you want to delete, then apply the filters on the file and then click on the Delete option.


How can I import Credit Card charges into QuickBooks Desktop?

First of all, Click the Import (Start) available on the Home Screen. For selecting the file, click on "select your file," Alternatively, you can also click "Browse file" to browse and choose the desired file. You can also click on the "View sample file" to go to the Dancing Numbers sample file. Then, set up the mapping of the file column related to QuickBooks fields. To review your file data on the preview screen, just click on "next," which shows your file data.


Which file types are supported by Dancing Numbers?

XLS, XLXS, etc., are supported file formats by Dancing Numbers.


What is the pricing range of the Dancing Numbers subscription Plan?

Dancing Numbers offers four varieties of plans. The most popular one is the basic plan and the Accountant basic, the Accountant pro, and Accountant Premium.


How can I contact the customer service of Dancing Numbers if any issue arises after purchasing?

We provide you support through different channels (Email/Chat/Phone) for your issues, doubts, and queries. We are always available to resolve your issues related to Sales, Technical Queries/Issues, and ON boarding questions in real-time. You can even get the benefits of anytime availability of Premium support for all your issues.


How can I Import Price Level List into QuickBooks Desktop through Dancing Numbers?

First, click the import button on the Home Screen. Then click "Select your file" from your system. Next, set up the mapping of the file column related to the QuickBooks field. Dancing Numbers template file does this automatically; you just need to download the Dancing Number Template file.

To review your file data on the preview screen, just click on "next," which shows your file data.


What are some of the features of Dancing Numbers to be used for QuickBooks Desktop?

Dancing Numbers is SaaS-based software that is easy to integrate with any QuickBooks account. With the help of this software, you can import, export, as well as erase lists and transactions from the Company files. Also, you can simplify and automate the process using Dancing Numbers which will help in saving time and increasing efficiency and productivity. Just fill in the data in the relevant fields and apply the appropriate features and it’s done.

Furthermore, using Dancing Numbers saves a lot of your time and money which you can otherwise invest in the growth and expansion of your business. It is free from any human errors, works automatically, and has a brilliant user-friendly interface and a lot more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


Is it possible to use the Direct Connect option to sync bank transactions and other such details between Bank of America and QuickBooks?

Yes, absolutely. You can use the Direct Connect Option by enrolling for the Direct Connect service which will allow you access to the small business online banking option at bankofamerica.com. This feature allows you to share bills, payments, information, and much more.


Why should do you change the Employee status instead of deleting them on QuickBooks?

If you are unable to see the option to terminate an employee on your list of active employees on the company payroll, this mostly implies that they have some history. Thus, if you change the employee status instead of deleting it on QuickBooks, the profile and pay records remain in your accounting database without any data loss in your tax payments.


What are the various kinds of accounts you could access in QuickBooks?

QuickBooks allows you to access almost all types of accounts, including but not limited to savings account, checking account, credit card accounts, and money market accounts.

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