Let me share some info to track your construction items and expense accounts, @qbks-info.
Yes, you're correct that you have to create a job and a unique expense account to track the expenditures.
You can create bills or checks to charge the cost of each purchased items like the 2x4 lumber to each separate expense account. Then, create a Customer profile for the property you manage and add a Job for the construction to accrue the expenditure for each properly.
Here's how:
- Go to Customers, then select Customer Center.
- Select the + dropdown menu, then choose New Customer.
- Fill out the fields.
- Select OK.
- Click the customer/property name from the Customer Center.
- Select New Customer & Job and then choose Add Job.
- From the Job Name field, enter the New Construction (name).
- Click OK.
Then when you record lumber 2x4 purchases, you'll want to create a bill or check by choosing the Job (New Construction). Here's how:
- From the Check/Bill, go to the Expenses tab.
- Enter the "unique expense account" that you created.
- From the Items tab, select the material/lumber.
- Choose a Job name from the Customer:Job column to mark it billable.
- Enter other details.
- Click Save and Close.
Feel free to check this article for additional details: Track job costs in QuickBooks Desktop.
However, if your company owns property rentals and you're currently working with new property construction and how to account for these costs and expenses, ensure to follow the step-by-step guide from this article: Record transactions for a property management company.
Let me know if you have other QuickBooks record-keeping concerns. I'm always here to lend a hand. Stay safe and more power to you.
