Time and mileage tracking is extremely important for a job. It enables business owners to track the expenses and compare those expenses to the job’s revenue. This tells them as well, which jobs are making money and which are not.
By knowing which jobs are not making quite a revenue through this Quickbooks job costing tools, you can be able to know which jobs to take on in the future. Estimating actual costs after the work complete gives you a way to improve your ability and know if you are estimating too high or low. To get on with this, you have to set up a customer job for you to keep track of your income and expenses on a job-by-job basis. This way you can also simplify your bookkeeping on this particular customer if he decides to add another job in the future.
To enter a standard Mileage rates for a job, you may go to “Company” then enter the vehicle mileage from the menu bar. Click on the Mileage rates button at the top of the “Enter Vehicle Mileage window. A dialog box then appears where you can input the “effective Date” of the mileage rate in the space provided. Set the rate in the “Rate” column next to the specified date, then click on “Close”.