Quickbooks issue......probably simple?

Discussion in 'Business Operations' started by tthomass, Dec 18, 2007.

  1. tthomass

    tthomass LawnSite Gold Member
    from N. VA
    Posts: 3,497

    After enter about 15-20 different jobs into Quick Books and running a couple of reports to view my companies performance I have found some issues that I don't know how to solve. When I run the financial report by job, about 3-4 of the jobs have a negative number for the cost of materials. This number is then added to the revenue, aka money the customer paid me for the job. However when I ran a different report, expenses by job it shows all of the bills being paid with the correct amounts. There are no over payments of any bills so I do not know where the negative number came from. The odd thing is when you look at the profit from the two different reports, they are the same amount! Any ideas?
     
  2. Luvs2Play

    Luvs2Play LawnSite Member
    Posts: 246

    Check the entry dates on materials and customer payment dates. If they were posted wrong, or backwards, you will get negative amounts untill everything "catches up".
     
  3. terribentti

    terribentti LawnSite Member
    Posts: 13

    Check and see if any of the invoices for the materials were coded to accounts payable? If they were, then the invoice needs to be married to the payment. Otherwise, just change the account to materials in lieu of accounts payable (which would require a bill to be entered and paid).
     
  4. backors

    backors LawnSite Member
    Posts: 14

    On all Qbooks reports, you can "modify". Try switching from ACCRUAL to CASH basis on the report options and see if that doesn't fix your problem. I know that my labor costs don't show up on a job report until I actually cut the check...even though the hours are in the timesheets.
     

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