Using QuickBooks For Project Management

QuickBooks is a financial management software that is commonly used by small and medium-sized businesses to track income, expenses, and financial transactions. It can also be used for project management, as it allows you to track the progress and profitability of individual projects.

Using QuickBooks for project management involves setting up a separate project in the software for each project you are working on, and tracking the income, expenses, and profitability of the project within QuickBooks. You can create invoices for the project, track time and materials, and generate reports to get a clear view of the project's financial performance.

How do you use QuickBooks for project management?

QuickBooks can be used for project management by setting up and tracking projects as customers in QuickBooks. Here are the steps to do this:

  1. Set up a customer for each project:
  • Go to the Customers menu and select Customer Center.
  • Click the New Customer button and enter the name of the project as the customer name.
  • Enter any other relevant information, such as the customer's contact information and billing address.
  1. Set up a job for each task within the project:
  • Go to the Customers menu and select Enter Single Job.
  • Select the customer (i.e., project) for which you want to create a job.
  • Enter the name of the task as the job name.
  • Enter any other relevant information, such as the start and end dates for the task.
  1. Track time and expenses for each task:
  • Go to the Customers menu and select Time/Enter Single Time Activity.
  • Select the customer (i.e., project) and job (i.e., task) for which you want to track time.
  • Enter the details of the time activity, including the date, duration, and description.
  • Repeat this process for any expenses associated with the task.
  1. Generate reports to track project progress:
  • Go to the Reports menu and select Jobs, Time & Miles.
  • Select the project or task for which you want to generate a report.
  • Choose the report type and any other relevant options.
  • Click the Run Report button to generate the report.

By tracking projects and tasks as customers and jobs in QuickBooks, you can use the built-in time and expense tracking features to manage your projects and monitor their progress. You can also use the report options in QuickBooks to get a better understanding of your project costs and profitability.

a much better an easier alternative is to use LiveFlow's Project profitability template.

Using QuickBooks For Project Management

Learn how to use QuickBooks for project management. We provide step-by-step instructions on setting up and tracking projects as customers, and more.

LiveFlow's Google Sheets Add-On is an easy-to-use tool to help you bring your financial data into your Google Sheet in a matter of seconds.

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