Invoice Issues

[Christi]

My question is as follows:

I have a job that is a Fixed Fee that I also enter timesheets for each employee. I do this to track each job's actual time worked, in order to develop an "estimates vs actual hours spent" report.

I have found that the only way to mark time as "billed" is to select the time/costs pull down menu at the invoice screen and select the time. With a Fixed Fee project I only list the Fee and % we are billing so I go back into the invoice and delete the individual lines for each time item billed. In conclusion, when I generate my report Job Estimates vs. Actual Detail -it does not list the time under Act. Cost.

Do you know what I am doing wrong?

[Mom]

You are using the wrong report. The QB logic for putting cost on the Estimate vs. Actual report is faulty. To see cost for the job, use a Job Profitability report.

By the way, a more efficient way to deal with your fixed price jobs is to use a fixed fee credit. Instead of deleting all those charges, just enter a negative amount (to your fixed fee service item) equal to the invoice total so the new total will be zero. Mark the invoice "For Internal Purposes Only" (perhaps in the customer message box). Then create a new invoice for your customer. The net amount in your fixed fee service item will be the difference between your fixed price and what you would have earned charging T&M. (Your employees should charge time to the same service items they would use for T&M jobs.)

[Christi]

MOM-Thank you for your response, I appreciate it. I will try that method you suggested.