How to use Job Costing if you are using inventory items

I am a home builder and started using Quickbooks to keep track of my jobs (i.e. different houses). I started out using Items to represent the details i wanted to keep track of with type "Service" and everything was tracked as COGS.  All was wonderful. Then my accountant told me i can't keep track of my expenses that. That i needed to basically put things into inventory until i sold the house. To do that I was told to use the Item with type "Inventory Part" and then assign the asset to the GL account that was of type "Other assets".  I can do that but when i run the job cost detail report nothing comes up. I'm told that when you sell the house then you take everything out of inventory and then it will show. 

I have to believe there is a easier/proper way to run a business like mine using Quickbooks. My requirement is that i know the costs of my jobs (houses) at any point in time.

Please help!

Thx

Ron

1 additional answer

No answers have been posted

More Actions

People come to QuickBooks Learn & Support for help and answers—we want to let them know that we're here to listen and share our knowledge. We do that with the style and format of our responses. Here are five guidelines:

  1. Keep it conversational. When answering questions, write like you speak. Imagine you're explaining something to a trusted friend, using simple, everyday language. Avoid jargon and technical terms when possible. When no other word will do, explain technical terms in plain English.
  2. Be clear and state the answer right up front. Ask yourself what specific information the person really needs and then provide it. Stick to the topic and avoid unnecessary details. Break information down into a numbered or bulleted list and highlight the most important details in bold.
  3. Be concise. Aim for no more than two short sentences in a paragraph, and try to keep paragraphs to two lines. A wall of text can look intimidating and many won't read it, so break it up. It's okay to link to other resources for more details, but avoid giving answers that contain little more than a link.
  4. Be a good listener. When people post very general questions, take a second to try to understand what they're really looking for. Then, provide a response that guides them to the best possible outcome.
  5. Be encouraging and positive. Look for ways to eliminate uncertainty by anticipating people's concerns. Make it apparent that we really like helping them achieve positive outcomes.

Select a file to attach:

Qb community
Looking for advice from other business owners?

Visit our QuickBooks Community site.