Project Cost/Profit Tracking

Jeev_Da_ManJeev_Da_Man Member Posts: 2

Hi,

Is there a way whereby i can tag each transaction of a particular project/event/invoice so that I will be able to track the profitability of that particulat project/event/invoice?

This will be a great feature as many business dabble in multiple projects at one time and it would be good to be able to track which of the projects are yielding more profits and which is making a loss.

Of course the general/admin expenses will remain the same without the need to tag to a project.

edited August 2018 in Accounting Feature Ideas

Comments

  • lylavuonolylavuono Member Posts: 17

    @Jeev_Da_Man I usually set up accounts on my Chart of Accounts to do that. You can just make an income account for a specific project and track those numbers that way.

    If you also need to track expenses, you can do the same, but for an expense account (So "Project 1 - Income" and "Project 1 - Expense").

  • Jeev_Da_ManJeev_Da_Man Member Posts: 2

    hmm okay thank you for that. :)

  • JoshRobbinsJoshRobbins Member Posts: 2

    This is one solution, but it appears the sacrifice is that you can't track expense categories over the year (travel vs supplies for example). This would make end of year reporting very difficult.

    A project tag would be helpful. Or a bulk vendor tagging, using vendor names as projects

  • BrendonBrendon Member Posts: 6
    Job costing is important to me as well. I have not found a good solution. Tags would be a nice feature to help with this issue.
  • MohrMohr Member Posts: 1

    This is extremely important to me

  • BTXteriorsBTXteriors Member Posts: 3

    I, too, find this feature extremely important.

  • KSpourKSpour Member Posts: 1

    This would be a great add-on. I also need to track projects. Currently, I'm just using an income and expense category for each project, but it would be nice to have those income and expenses go into the correct category, but tie to a project.

  • ReNeuReNeu Member Posts: 2

    I am in construction and renovation business and need a way to track expenses of each job. I have been looking for a way but wave seems to be a pretty basic accounting app. I used to use sage when it was a program I put on my computer and if I could find the cd might still be using it.
    Hopefully the programmers will find a way to implement this feature. Some way to flag transactions to project name or number.

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