Including markup amounts in budget actuals for QuickBooks Online

Including markup amounts in budget actuals for QuickBooks Online

Megan Sullivan

In QuickBooks Online, you are able to specify markup amounts on the bills and payments that you enter.

When you go to invoice the billable expense to your client, your markup will be included on the invoice alongside the original expense as an additional line item.

To properly handle your job costing in CoConstruct, all of your financials need to be tied back to a Product/Service code. However, QuickBooks online doesn't allow you to tie your markup to a Product/Service code, which can make tracking your financials tricky. Fortunately, CoConstruct helps by allowing you to attribute your markup items to one of your revenue codes when it pulls in your budget actuals.

If you are using the markup feature in QuickBooks Online and you want these markup amounts to be pulled into CoConstruct as budget actuals for your projects, make sure you enable the option to "Include markup amounts in budget actuals" on the Accounting Integration settings page. If your CoConstruct account is linked with QuickBooks Online, an admin user will see this option by going to the Settings > Accounting.

On this page, you can choose which Product/Service code CoConstruct should use when pulling in your markup items:

QBO_Markup_in_Budget_Actuals.png

Then, after syncing your data, CoConstruct will correctly account for the revenue from those markups.

 

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