Job Profit & Loss

[JulieMac2]

How can I get a true Job Profit and Loss when I am yet to run a Payroll?

We run payroll fortnightly, so the payroll expenses dont show against that job until you actually run a payroll - this is not sufficient as we want to see the true expenses at the time we Invoice the Job, and not have to wait till we run a payroll. Additionally, we sometimes add an activity to the job after a payroll, and again this cost does not come up in the expenses/costs on that job.  Is there anyway to get a Time Billing expense to show as an expense on a Job without running the payroll?  TIA

[Sean_DC]

Hi @JulieMac2 

Thank you for your post. I'm glad to assist you.

A Profit and Loss report by Job can be produced by going to Reports >> Accounts >> Jobs >> Selecting the Job Profit & Loss Statement and the desired period before selecting Display report. This will provide a breakdown per Job for the Profit and Loss. If you are needing a separate page per job you could select the Print Preview >> Page Break option.

Here's a Help Article that lists some other available reports for Jobs.

Please feel free to post again. I'm happy to assist further.

If my response has answered your enquiry please click "Accept as Solution" to assist other users in finding this information.

[JulieMac2]

Hi Sean

Thanks for your response

Sorry, but this hasnt my query - the query was about how to get an accurate Job Profit & Loss BEFORE I had run a payroll - this can be a problem if you run a fortnightly or monthly payroll and a Job was finished at the start of that period.

Thanks

Julie

[Julie_A_C]

Hi @JulieMac2 @Sean_DC 

The only way you can get what you actually want is to do a true accruals accounting and pass a general journal at the end of each week or when the job has finished.

You would debit the wages expense for gross wage to be paid for the job in question, debit super expense both using the job number, and credit this to a liability account called Wages/Super accrued for completed jobs (no job number against this).

When you actually process the wages, you would reverse the transaction.