Job Nimbus doesn’t sync budgets to QuickBooks, and there isn’t much more to job costing beyond the budget tool that is supported aside from Labor and Materials which do sync as separate line items. If you want job costs in QuickBooks and don't want to do double entry, it would make sense to do it in QuickBooks as job costing features is more in depth there. We do sync "classes" with Quickbooks Desktop (aspect of job costing through linking financial records to expense accounts). Budgets have one status of draft, which we are using as a placeholder in the event at a future date the sync functionality is implemented, as of yet, we do not sync to QuickBooks. We sync records that are transactions that you are charging your customers but not what your vendors are charging you.
Quickbooks online version of job costing is called projects. It has three statuses of in progress, completed and canceled. Its functionality has reporting features which track profitability, sales transaction list, unbilled time, expenses and non-billable items. It interfaces with invoices, invoice payment, expenses, estimates and time.
The markup rate on an estimate is not the same as the gross profit margin. They are completely separate calculations.
The gross profit margin percentage is:
((Revenue - Cost of Goods Sold) ÷ Revenue) x 100
Example: Revenue is $150. Cost of the goods is $100. $150-$100= $50. $50 divided by $150 equals 0.33. 0.33 multiplied by 100 equals 33.33%
The gross profit margin is 33.33%.
1) How do I capture an invoice from one of my subcontractors?
You may want to upload the invoice from a subcontractor to attachments on a job or contact to store the information, (there is no way to have it interface or sync to our system). You could then have the total as a line item on a budget.
Note: To make a negative number on a budget first save the item as a positive number, then go back and edit it to a negative number "-500.00". The negative number will appear in parenthesis after saving indicating a negative number (500).