Commonly Overlooked Features in QuickBooks Pt 2

I’ve written before about useful features that many don’t know exist.  Today’s article takes a look at more features you might find helpful. 

Collapse Columns If you are in 2020 or 2021 and haven’t looked that this feature, it is one what was on my wish list for a few years.  In the past, you’ve been able to collapse rows in reports (you just see the parent account or item), but you couldn’t collapse columns (e.g. just see class and not sub classes or just see customer and not all the jobs). With this feature, it’s just a simple click!   You can either click the menu button at the top of the report or click on the “-“ sign (shown next to all the columns)

QuickBooks

Billable vs Unbillable QuickBooks

  • Billable in QuickBooks means you will invoice based on the actual cost of the time or materials with a markup. If you mark something unbillable but use the customer:job, the item or expense WILL show in your job cost reports  
  • The default setting in QuickBooks is to make time and expenses billable any time you use a customer job in the transaction (e.g. bills and timesheets).  If you invoice for time and materials, then I would leave this as is, even if you don’t always invoice that way.  Better to have to uncheck the billable, than find out later you missed it and now can’t go back and invoice the customer! However, if you always use fixed pricing, then by all means turn “billable off!!

Close Estimate After Converting to Invoice

If you NEVER use the progress invoicing feature, then you’ll like this preference.QuickBooks

Collection Center – For those of you who have to deal with collections, you might like the collection center. One feature it has that the Income Tracker does not is a place to write notes, which is often helpful for documentations purposes as well as other reasons.  Once you turn it on, you’ll find it in the Customer CenterQuickBooks

Workers Comp – If you use Intuit Payroll, you might like the Workers Comp feature – this can definitely simplify those workers comp audits!QuickBooks

 You can setup your various codes (see below, left) and either assign a workers comp code to an employee in the employee record, or if they change tasks, you can use them in the timesheets (see below, right). QuickBooks

 Batch time sheetsQuickBooks Speaking of timesheets, if you’re still manually entering timesheets in QuickBooks and you have crews (even a 2-man crew), you can enter the time, work etc. just once instead of for each person on the crew. That can be a huge timesaver for some of you.  The “trick” is to scroll up to the top of the list where you have the option to click on Multiple names

Sales/Work Orders  For those of you who use work orders and are doing it on paper, you might find the Sales Order feature in QuickBooks Premier and Enterprise an option. You can customize a sales order to be a work order (e.g. hiding pricing, adding instructions). You can create a sales/work order as a stand-alone or create it from an estimate.  You can create PO’s and invoices from sales/work orders and there are Sales Order reports.QuickBooks

I’d love to hear which of these you found most useful. And, as always, if you have questions or want some assistance with any of these, contact our office.

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