Setup QuickBooks Online Timesheet Tutorial - Learn QuickBooks Online Time Tracking Fourlane
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Fourlane's next QuickBooks Online Advanced tutorial discusses setting up timesheets. We'll look into time tracking settings and go over the toggled options of "Add Service field to timesheets" and "Make Single-Time Activity Billable to Customer" and also check the option to show billing rate to users entering time. You can also select what is the first day of the work week.
We'll also show how to add a new employee and discuss the Cost Rate so that you cover additional costs (food, expenses, etc.) as well as the Billing Rate where you bill the employees time on a project. And, as always, we explain each section and how they can work for you and your business.
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00:00 Tutorial Marker
00:05 Time tracking preferences in QuickBooks Online
Account and Settings - Advanced - Time Tracking
00:23 Add Service field to Timesheets - Always recommended
01:20 Make Time Billable to Customer
Setup Job Costing in QBO
Time and Materials billing vs Fixed Bid billing
02:45 Show billing rate to users entering time
Most businesses want this turned off
03:15 First Day of the Work Week
03:45 Create a new Employee
Cost rate is a stated rate. Use loaded cost rate for job costing.
Bill rate is what we will charge for an hour of time for this employee
05:20 Create Weekly Timesheet
06:34 Create Single Time Activity
07:30 Create invoice from billable time
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