I've done a job cost estimate and the Estimates vs Actuals report is working fine. However, when I enter my estimated revenue it (Acct 3000) it shows up as both a cost and revenue - adding the estimated revuen to the cost for an unrealistic number.
You should be using two sided items.
Check the little box just under the Unit of Measures that says “This item is used in --------etc.
Expense = Point to a Cost of Goods Sold Account = Job Cost in QuickBooks
Income = Your Construction Income Account
Use an estimate that has a markup column.
Try Custom Estimate or modify your current template and a markup.
Enter your true estimated cost
You can mark up each individual item
You can add the markup at the end of the estimate, but use the mark up column
You can set up group items for your Bid Items Example General Conditions and add Profit and Overhead (Markup) but the Markup is entered in the Markup Column
I constantly refer contractors to this webinar. Gives Contractors a good overview of job costing in QuickBooks.
