using time sheets for sub contractors
Our company uses subcontractors, and we have them use timesheets. what is the best way to use the time sheets to create a payment?
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11/10/10 10:20am PST
Viewed by asker 11/11/10 6:53am PST
Viewed by asker 11/11/10 6:53am PST
3 Replies
bookie451
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Questions answered: 1084
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11/10/10 11:23am PST
Set up your subcontractors as vendors. THen on a timesheet use the vendor name and enter their time just as you would an employee using the job, service item, activity notes, class, etc. . Then enter the hours worked. Mark the hours as billable and everything will go through to Time/Cost to be added if you want to enter them on an invoice. Go to enter bills window and type in their name. A pop up will appear saying "This name data in the company file. Do you want this check or bill to reflect time worked?" Answer yes. Another pop up cokes up to select the time period you want to pay. Enter this and click on "OK". This will transfer their time to the bill. You can then enter the rate they have charged you per hour on each line and create the bill.
11/10/10 11:29am PST
thank you this helps, another question regarding that.
If I enter a bill using time entered on a time sheet, I am pulling income items into a bill and i thought subcontractor costs needed to be a cost of goods sold.
an I messing up the balace sheet if bills are created using income items?
11/10/10 11:55am PST
Latest post
On your item list, set up an "Other Charge" called Subcontractor. Check the box saying this item is used in assemblies or is a reimbursable charge. This will allow you to set up a cost account (COGS) and an Income account (One of your Service items). You may want to set up a service item with a special name just for subcontracted labor so you can track your markup on the subcontracted labor.
