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If you use QuickBooks for job costing, then you should assign a customer:job to each transaction (including admin or overhead as a job). However, sometimes transactions are not assigned a job. If you compare the standard Profit and Loss to the Profit and Loss by Job you may discover the totals do not agree. This quick video demonstrates how to compare the reports and identify transactions not assigned to a customer:job.
I hope this QuickBooks tip has been helpful! If so, please share it!
Michelle L. Long, CPA is the owner of Long for Success, LLC specializing in QuickBooks consulting & training, coaching small business owners, speaking and writing. She was named one of ‘10 Women who Inspire a Profession’ by Accounting Today and a Financial Services Champion of the Year by the SBA. She has been mentioned in the New York Times, Inc.com, Business Week, Investor’s Business Daily, WebCPA and more. Michelle is the author of Successful QuickBooks Consulting and How to Start a Home Based Bookkeeping Business.
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