Don’t forget that QuickBooks Online integrates seamlessly with BQE Core, the award-winning project accounting platform built for professional services firms. Core offers business intelligence, project management, time and expense tracking, billing, accounting, and reporting together in one intuitive package. You can integrate Core with QuickBooks, or handle your accounting within Core so it’s right alongside all of your other essential business processes.
A while back I wrote a post, and recorded a video called QuickBooks For Architects – Two Methods For Job Costing.
Then on November 29, 2015, “RAD” Posted a question. You can read it by scrolling way down to the bottom of that post.
It was a good question, and an interesting scenario, so I decided to reply with a whole new post and video.
Here’s QuickBooks for Architects – Setting up Your Workflow.
You may also want to read QuickBooks for Law Firms – Understanding Billing Rates and Price Levels.
The essential issue here is how to I handle paying different vendors, different rates for the same service. The short answer is, you set up different items, to describe the different levels of experience that drive the different rates. So if the service is, “Drafting Construction Documents” then you will have two versions of this. Call it, DCD – Level 1, and DCD – Level 2.
On the other side we are billing clients for two different project types. In this case the billing to the client is not based on the person doing the work. It is based on the project itself. Each project has it’s own hourly rate, regardless of who’s doing the work. This issue is resolved using price levels.
The video is a bit long, but I go through each part of the question, and in a blank QuickBooks file, I set up the whole scenario step by step. I think you will get a lot out of this. Of course you should do this with your own blank QuickBooks Company File open. Play a bit, pause, try setting up what I am showing you, then resume the video. If you can replicate what I have done, then you will understand this stuff inside and out.