Job Profitability report does not show correct job costing from paychecks
The Job Profitability report does not display the job costing from paychecks correctly.
Employee paychecks must have properly assigned hours and job items to show how much in payroll expense a job costs to the company.
The payroll expense for job costing includes the following:
- Any earnings item on the paycheck that were assigned job costing.
- Addition and company contribution items that were set to Track Job Costing in the payroll item setup.
- Company-paid taxes such as state unemployment insurance (SUI), Federal Unemployment Tax Act (FUTA), Soscial Security, and Medicare Company.
You currently use job costing in QuickBooks.
You will resolve the discrepancy in the report.
When comparing the Payroll Summary report to the Job Profitability report for the same period, the total amount in the Act. Cost column in the Job Profitability report should match the combined amount of Earnings, Additions, Company Contributions and Company Paid Taxes in the Payroll Summary report.
If the payroll cost is not showing correctly in the Job Profitability report, you can isolate payroll by following these steps:
In the Job Profitability report, select the date range you want to view.
Click the Modify Report tab.
Click the Filter tab and select Transaction Type.
Click the Transaction Type drop-down arrow and select Paycheck
Double-click the total amount in the Act. Cost column to see the list of paychecks for the period selected in the Job Cost Actual Detail Report.
The Job Actual Cost Detail shows the breakdown of job costing on paychecks for each customer. If the paychecks show correct job costing information but the Job Profitability Cost Report still shows incorrect amounts in the Revenue column, you can modify the report by clicking the Filter tab and selecting Transaction Type and/or Name so you can look at other transaction reports such as payments. You can also look at more detailed information per customer. Modifying the report for each transaction type will help you isolate each transaction to narrow down the root cause of the discrepancy.