How to Track Employee Time, Part 2

 If you have to track a lot of employee work hours, you might want to use QuickBooks’ Timesheets. 

Last month, we introduced the concept of time tracking in QuickBooks. Using the software’s tools, you’re able to record individual blocks of time that employees have worked, so that you are able to include them in payroll and billing customers when necessary. We went through the steps required to set up QuickBooks for time tracking and walked you through the process of creating individual time entries. A completed record for billable time should look something like this:

To enter an individual time record, you open the Employees menu and select Enter Time | Time/Enter Single Activity.

Using a Timesheet

QuickBooks offers another way to enter time records that’s especially useful if you have multiple employees and a lot of work hours to track. Open the Employees menu and select Enter Time | Use Weekly Timesheet. You can also get there by clicking the down arrow next to the Enter Time icon on the home page. This screen resembles a paper timesheet, with columns for all of the information you would enter if you created a single activity.

At the top of the screen, click the down arrow next to Name and select the correct employee. To the right of that is the Week Of field. If you need to change the dates, click the small graphical calendar, then click anywhere in the correct week. If you have already created individual records for that employee during that week, the information for each will appear in the corresponding date column at the end of the row. And anything you enter on the Timesheet will also appear as an individual entry.

To create a new entry on the Timesheet, click the down arrow in the Customer column and select the correct Customer:Job. Next, choose the Service the employee provided by again clicking the down arrow in that field. You want to be sure that the Payroll Item code is the right one, so choose carefully there; the WC Code (Workers’ Comp) should fill in automatically. Enter Notes if you’d like, then the number or hours the employee worked for that customer for that service in the date column. Be sure to click in the Billable box to create a checkmark if the service was billable.

Any data you enter on a QuickBooks Timesheet will also appear as a Single Activity, and vice versa.

Totals for each column appear at the bottom. Save the Timesheet and repeat the process for any other employees as needed. These hours will now be available to you when you run payroll and bill customers.

Time Reports and Invoicing

QuickBooks makes it easy for you to see the time data you’ve entered. It offers four pre-formatted reports that tally this information in different ways. Open the Reports menu and select Report Center. Locate Jobs, Time & Mileage in the left vertical pane and click on it. Scroll down to the Time heading to see these four reports. They are:

• Time by Job Summary (tells you how much time your company spent on each job, broken down by services provided)

• Time by Job Detail (shows you the same thing, but includes employee name and billing status)

• Time by Name (lists employees and the hours they spent on each job)

• Time by Item (tells you how much time your company has spent on each service type, broken down by job)

When you open a report, you can double-click on any number in the Duration column to see the underlying detail.

When you create an invoice for a customer who needs to be billed for services provided, QuickBooks displays this message:

To make this standard procedure, check the box in front of Save this as a preference.

QuickBooks offers another way to bill for time and expenses that allows you to create invoices in batches. Open the Customers menu and select Invoice for Time & Expenses. In the window that opens, specify your Date Range, and make sure the Template showing is the one you want. 

Click in the column in front of each Customer:Job you want to bill and then click Next Step. You can Review Billables to see details and Edit Options by clicking on those buttons. Click on Create Invoices and make sure each customer’s Preferred Send Method is correct in the next window before dispatching them.

QuickBooks’ time tracking tools may be all your company needs. But if you find them lacking, talk to us about adding TSheets, an integrated solution that adds more advanced features. And let us know if we can help with your use of QuickBooks’ own tools – or any other aspect of your accounting.

SOCIAL MEDIA POSTS

Did you know there are two ways to enter employee work hours in QuickBooks: individual time records or timesheets. Find out the difference here.

Are QuickBooks’ time tracking tools not enough for you? Ask us about adding TSheets, an integrated solution with advanced features.

QuickBooks has a new feature that allows you to invoice for time and expenses in batches. We can show you how this works.

Did you know that QuickBooks can remind you that you have outstanding billable service hours when you invoice customers? Find out how here and ask us how this works.

How to Create Product Records in QuickBooks Online, Part 2

 Once you’ve created your company’s product and service records, you’ll use them in numerous places in QuickBooks Online.

Last month, we covered the setup you have to do before you start building your product and service records in QuickBooks Online. We told you to click the gear icon in the upper right, then click Account and settings, then the Sales tab, then Products and Services. Once you’ve specified your preferences, you click the gear icon again, then Products and services, then New to complete the fields required for each record.

Before you start creating product and service records, you should establish your preferences.

You can always view the Products and Services screen by clicking on Sales in the toolbar, then Products and Services. (You can also access it by clicking on the gear icon, then Products and services under Lists.) This comprehensive table, a kind of dashboard for your products and services, displays real-time information about each item’s pricing and inventory levels, as well as its type and tax status. 

Click the down arrow in the Action column, and you can work with that product in a variety of ways. For example, you can run a report, adjust its starting value and quantity, and reorder. You can also edit the record from here. Large, colorful buttons at the top of the screen give you an instant view of the number of items that are low on stock or out of stock. Click on one, and a list of those items will appear.

Warning: Be sure you understand your reason for modifying inventory level numbers (either their starting value or quantity) and the impact this could have on your reporting. We recommend that you consult with us before taking either action. The same goes for reordering if you haven’t worked with purchase orders in QuickBooks Online before.

Using Your Records

Once you start creating transactions like invoices and sales receipts, you’ll see why we recommended that you complete all of the relevant fields in your product and service records. QuickBooks Online is good about allowing you to supply data “on the fly” (as you go along), but your daily work will go much faster if you do your setup work first.

Here’s how you add a product or service to an invoice or a sales receipt, for example. Click on the +New button at the top of the screen and select your transaction type. Choose the appropriate Customer by clicking on the down arrow in the first field in the upper left. Check the rest of the fields in the top half of the form and make any necessary changes. Click in the field under Service Date, then click on the small graphical calendar to select the date of the sale. Click on the down arrow in the field below Product/Service.

 

You can select from product or service records you’ve created or add a new one on the fly.

As you can see in the above image, +New is the first option in the list. Click on it if you haven’t yet created a record for what you’re selling. The Product/Service Information pane will slide out from the right side of the screen. Otherwise, click on the correct product or service in the list. If you filled out all of the relevant fields in its record, QuickBooks Online will complete the rest of the line with the needed information. You only have to enter a quantity in the Qty field. 

Enter any information requested at the bottom of the screen and Save the transaction. QuickBooks Online will reduce the quantity available for any products you just sold. You can see your sale and how it affects inventory by looking at reports. Sales By Product/Service Detail, for example, shows you the sale you just made and any others within the date range you selected.  Product/Service List provides a number for the quantity on hand. Run Inventory Valuation Detail to see a combination of the data in both of those reports. And if your company counts inventory periodically, you can use the Physical Inventory Worksheet, which even displays a number for any items currently on purchase orders.

We hope you’ve been able to continue supplying your customers with the products and services they need during these challenging times. If you maintain thorough product records in QuickBooks Online, you’ll find that your daily sales work can be both fast and accurate. The site can also help you maintain enough inventory that you don’t run short, as well as don’t have too much money tied up in excess products. Please let us know if we can help you with this critical tracking task – or if you have questions about any other element of QuickBooks Online.

SOCIAL MEDIA POSTS

When a customer orders a product, do you know how many you have in stock? QuickBooks Online has great inventory-tracking tools.

How do you know when it’s time to reorder a product? QuickBooks Online can tell you. Ask us about this.

Before you start working with QuickBooks Online’s product tracking tools, click the gear icon and go to Account and Settings | Sales. Here’s how this will help you and why.

Did you know you can create product and service records as you go in QuickBooks Online? But it’s better to set them up first and here is why. We can help you with this.