Tag Archives: Job

Disbursement

Software: QuickBooks accounting software

Disbursement is a recovery of a payment made on behalf of another party by you as an agent or professional, such as lawyer or auditor.

Besides using an invoice with an item tagged to the same account used in Bill to recover the payment made on behalf by you, you can consider using the Job feature in QuickBooks.

You can tag a Customer or Job to the account when recording the Bill into QuickBooks. Tagging of a Customer or Job to account will not have any impact on the financial data as the account used in the detail line still get debited.

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When issuing an invoice to the customer or job, QuickBooks will prompt to select the outstanding billable time and costs. The invoice debits the accounts receivable and credits the account which has used in the bill.

quickbooks-billiable-time-and-cost

The balance of the disbursement account will be zero after the amount owing has recovered.

quickbooks-ledger

Job tagging

Software: MoneyWorks accounting software

Is your job making money?

Job tracking is essential if you are in project business such as an event organiser, subcontracting, software development, etc. Have a good understanding of the job profitability, know where your money goes, what type of job is losing money, which sector to grow is an important factor for a business to survive.

You need tools to help to monitor the profitability of a job. MoneyWorks, a small business accounting software, has a job function which allows the user to tag the income and expenses with a job. For example, you may tag the job code to the job-related expenses such as insurance, labour cost, equipment rental, transportation, purchases, etc.

job-profitability

Once you have all the data, you can use an analysis report to analyse the job profitability. You can use the built-in JT Account report from the Report menu to monitor the job profitability or create a new one with job printed horizontally across the report.

References:
MoneyWorks v7 User Guide page 175, The Job File.
MoneyWorks v7 User Guide page 397, Job Control.