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In QuickBooks Pro 2010 Essential Training, author Bonnie Biafore shows how to most efficiently use this popular business accounting software to manage business finances. The course covers core QuickBooks features that business owners need to know, from recording typical bookkeeping transactions like bills and invoices, to reconciling accounts and managing company files. Exercise files accompany the course.
If you give users permission to enter their time directly in QuickBooks, as you learned earlier in this chapter, you can fill in a timesheet in QuickBooks, enter time for a single activity or use the built-in timer to keep track of time while they work. If you enter time for other people, filling in a timesheet is the easiest option. To enter time for one activity, on the homepage, click Enter Time and then choose Time/Enter Single Activity. The dialog box sets the date to today. To choose a different day, click the Calendar icon and then click the date. You can also type the date in the box.
The Name dropdown list contains names on the Vendor list, Employee list, and Other Names list. Choose the person who perform the work, then choose the customer or job that the work was performed for. QuickBooks automatically turns on the Billable checkbox, which tells the program that you plan to add this time to an invoice later on. If you want to track time without adding it to an invoice, turn off the Billable checkbox. For instance, you can turn off the checkbox if you want to see how many hours someone works on a job, but you charged the customer a fixed price for the work.
The next step is to choose the Service item for the work. If you want to add notes to describe the work completed, fill in the Notes box. These notes will appear in the weekly timesheet and also on invoices you generate from time worked. If the person already performed the work, type the amount of time in the Duration box. You can enter time as hours and minutes by typing a colon between them. For example 4:30 for four and half hours, but you can also type a number with a decimal point like 4.5.
QuickBooks converts the decimal number to hours and minutes. If you track time for yourself, you can use the Stopwatch feature. However, the date does have to be set to today. Click Start to start the stopwatch. The seconds that pass appear to the right of the Time box. If you want to pause the timer to take a break for example, click Pause, then you can click Start to restart timing or click Stop to stop the timing.
You can restart timing later in the day by reopening this activity and clicking Start again. Click Save & Close to save the time entry. To enter time in a weekly timesheet, click Enter Time and choose Use Weekly Timesheet. The fields you fill in are almost identical to the single activity but they're arranged differently. Choose the name of the person at the top of the timesheet, choose the Week by clicking the Calendar icon, and picking a day during that week.
Then in one row of the timesheet you can choose the customer job, the service item, and fill in any notes. This one has the single activity that we've just recorded. The Weekly Timesheet totals the hours for that Service item for the week and it also totals the times for each day of the week. If the time is billable, leave the Billable checkbox on. You have to fill in a separate row for each combination of customer, job and service item.
If the worker performs work for the same customers and service items, you can quickly copy a previous timesheet so you don't have to fill in all those fields. Display the week you want to fill in and click Copy Last Sheet. You can replace the current timesheet entries by clicking Yes or if you want to add the entries from the previous timesheet click No. When you're done click Save & New to enter another weekly timesheet or click Save & Close to save the timesheet and close the dialog box.
These time records then wait in QuickBooks until you're ready to add them to invoices or display them in time reports.
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