Using QuickBooks - Setting Up Time Tracking

The advantage of tracking time in QuickBooks is that the hours you record are ready to attach to an invoice or use in payroll. You can enter time for individual activities  or fill in a weekly timesheet. In the Time / Enter  Single Activity dialog box, you can type  in the number of hours for a single activity. The dialog box also includes a stopwatch, so you  can have it track the time you spend working on a task.

The set up is : You tell QuickBooks that you want to track time and then set up the people who need  to track their time. You use the customers and items you've set up in QuickBooks to identify the billable time you work. If you want to track nonbillable time, you need a few more entries in QuickBooks.

To turn on time tracking in QuickBooks go to Edit - Preferences - Time & Expenses and click the Company Preferences tab. You need to choose Yes to the question "Do you track time?".

You only can track people's time if their name  appear in one of your name list (the employee list, vendor list or other names list).

To set up items and customers for time tracking, you choose the service item you're working on. QuickBooks then totals your hours and figures out how much you charge the customer based on the number of hours and figures out how much to charge the customer based  on the number of hours you worked and how much you charge per hour for that service.

The only type of item that QuickBooks' time tracking feature recognize is service.

If you will not bill to a customer, enter zero as rate for the service.

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Using Quickbooks - Setting Up Items

Whether your business does, you'll probably use items in QuickBooks to represent the products and services you buy and sell. But to QuickBooks, things like discount, subtotals and sales tax are items too. In fact, everything that appears in the body of a QuickBooks form (such as an invoice) it is an item.
Items save time and increase consistency on sales and purchase forms. When you create an item, you describe what the items is, how much you pay for it, how much you sell it for, and the accounts to which you post the corresponding income, expense, cost of goods sold, and asset value. You also create items for other stuff you add to sales forms, like discounts, shipping charges, and subtotals.
If you do not use invoices, sales receipts, inventory and estimates, you do not need to use items. 
Planning your Item List can save you lots of frustration. By deciding how to name and organize your items before you create them in QuickBooks. Since QuickBooks Pro and Premier can not hold more than 14,500 items and once you use an item in a transaction, you can not delete that item, you need to plan how specific your items will be.
The best time to create items is after you've created your accounts but before you start purchasing goods from vendors or invoicing customers.

 

We can help you to set up items in QuickBooks

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(858)247-1680