Track Project Expences

[Cindy SW]

How is the best way to track project expences. I have a client with a start-up Research and Development company. He wants to track the expenses for each product he is developing.
Thanks, Cindy

[jpcentral]

Sounds like "Classes" to me.

[Cindy SW]

Thanks!

[giovanni]

Another way would be to set each product up as a separate "Job", using his company as the "Customer" for in-house development and the actual customer for outside work. This way you could save "Classes" for different types of products or projects, for instance. The Customer: Job list could look something like this:

Wiley E. Coyote Co. (Customer)
- Anvil (Job)
- Rocket Pack
- Fake Tunnel
- Catapult

If the Classes were:

- Gravity Devices
- Propulsion
- Deception

You could track the projects separately or in their related groups such as the Rocket Pack and the Catapult under the Propulsion Class. Done this way you can have budgets (“Estimate”) for each product and pull separate P&Ls.

Giovanni

[giovanni]

For more on my example above, see the link below:

http://www.brainyencyclopedia.com/encyclopedia/r/ro/road_runner_cartoon.html

Giovanni

[Cindy SW]

giavoni - What a great suggestion! Thank you so much. Cindy