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banji-heliumheal
Level 1
posted
‎July 29, 2023 01:27 AM
last updated ‎July 29, 2023 1:27 AM

Can I convert time charged by employees (Appearing in the project section) into an expenses line to appear on the Profit & Loss statement

I have structured project into our quickbooks. The time charged by employees comes into the project data, however we would like to see it on the profit & loss account.  

Is there a way to link the time charged to profit and loss. Such that it will appear as cost under the project details as well as the profit and loss statement
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1 Comment 1
ChristieAnn
QuickBooks Team
QuickBooks Team
‎July 29, 2023 03:29 AM

Can I convert time charged by employees (Appearing in the project section) into an expenses line to appear on the Profit & Loss statement

Welcome to QuickBooks Community, banji-heliumheal. Let me share information on how time charged by employees works in QuickBooks. 

 

Please know that time records are not financial transactions and have no amount associated with them. Thus, converting time charged by employees into an expense line to appear on the Profit & Loss statement is currently unavailable. Unless you'll pay your employee using the time charged and their time will now show as an expense. 

 

You can read this article for more information on how project data and reports operate in QuickBooks: Track hourly labor costs and profitability by project in QuickBooks Online.

 

Lastly, I'm adding this article if you need help running different reports in QuickBooks to view a snapshot of your business: Run reports in QuickBooks Online.

 

If you have any follow-up questions, don't hesitate to comment below. I'll be happy to help you out, banji-heliumheal. Have a good one.

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