How to enter liability using items

Posted by Chips on November 1, 2007, 1:10 am

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Our company pays a flat rate workers comp, then after audit we pay or get
back the difference.

I have a database I use for payroll that will tell me how much debt I am
accruing for the workers comp each week, and also it will tell me how much
is in what construction category (drywall, foundations, framing, etc.).

In QB (contractor 2006) I use items to categorize into these construction
categories.

I'm trying to figure out how I can enter these debt accruals into a
liability account using items so it keeps track of the construction
categories. When I use a general ledger entry I can't use items.

I don't want to enter them as bills, because it shows it as being due now,
but it isn't really.

I could show it as a bill due well into the future, but I'd rather show it
as just an entry to a current libility account so it doesn't show up in my
bills.

Any suggestions?

G Chapp

Posted by Allan Martin on November 1, 2007, 9:36 am

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> Our company pays a flat rate workers comp, then after audit we pay or get

> back the difference.

> I have a database I use for payroll that will tell me how much debt I am

> accruing for the workers comp each week, and also it will tell me how much

> is in what construction category (drywall, foundations, framing, etc.).

> In QB (contractor 2006) I use items to categorize into these construction

> categories.

> I'm trying to figure out how I can enter these debt accruals into a

> liability account using items so it keeps track of the construction

> categories. When I use a general ledger entry I can't use items.

Why do you need to use items?

> I don't want to enter them as bills, because it shows it as being due now,

> but it isn't really.

> I could show it as a bill due well into the future, but I'd rather show it

> as just an entry to a current libility account so it doesn't show up in my

> bills.

> Any suggestions?

> G Chapp

Posted by Chips on November 2, 2007, 8:31 pm

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I use items to categorize into construction categories. The items all dump
into the same COGS account, but QB Contractor can spit out reports that show
your income/expenses and so on by item. So this is useful.

I think what I really need to do is ask our accountant if I need employer
taxes to show up in thier own expense accounts, or if I can dump them into
COGS or overhead expenses with other things.

GC

>> Our company pays a flat rate workers comp, then after audit we pay or get

>> back the difference.

>> I have a database I use for payroll that will tell me how much debt I am

>> accruing for the workers comp each week, and also it will tell me how

>> much is in what construction category (drywall, foundations, framing,

>> etc.).

>> In QB (contractor 2006) I use items to categorize into these construction

>> categories.

>> I'm trying to figure out how I can enter these debt accruals into a

>> liability account using items so it keeps track of the construction

>> categories. When I use a general ledger entry I can't use items.

> Why do you need to use items?

>> I don't want to enter them as bills, because it shows it as being due

>> now, but it isn't really.

>> I could show it as a bill due well into the future, but I'd rather show

>> it as just an entry to a current libility account so it doesn't show up

>> in my bills.

>> Any suggestions?

>> G Chapp

Posted by Laura on November 2, 2007, 9:11 pm

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I would keep the payroll wages and taxes to their own accounts even if as a
COGS subaccount. This helps reconciling payroll reports easier.

>I use items to categorize into construction categories. The items all dump

>into the same COGS account, but QB Contractor can spit out reports that

>show your income/expenses and so on by item. So this is useful.

> I think what I really need to do is ask our accountant if I need employer

> taxes to show up in thier own expense accounts, or if I can dump them into

> COGS or overhead expenses with other things.

> GC

>>> Our company pays a flat rate workers comp, then after audit we pay or

>>> get back the difference.

>>>

>>> I have a database I use for payroll that will tell me how much debt I am

>>> accruing for the workers comp each week, and also it will tell me how

>>> much is in what construction category (drywall, foundations, framing,

>>> etc.).

>>>

>>> In QB (contractor 2006) I use items to categorize into these

>>> construction categories.

>>>

>>> I'm trying to figure out how I can enter these debt accruals into a

>>> liability account using items so it keeps track of the construction

>>> categories. When I use a general ledger entry I can't use items.

>> Why do you need to use items?

>>>

>>> I don't want to enter them as bills, because it shows it as being due

>>> now, but it isn't really.

>>>

>>> I could show it as a bill due well into the future, but I'd rather show

>>> it as just an entry to a current libility account so it doesn't show up

>>> in my bills.

>>>

>>> Any suggestions?

>>>

>>> G Chapp

>>>

Posted by Allan Martin on November 3, 2007, 10:19 am

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>I use items to categorize into construction categories. The items all dump

>into the same COGS account, but QB Contractor can spit out reports that

>show your income/expenses and so on by item. So this is useful.

> I think what I really need to do is ask our accountant if I need employer

> taxes to show up in thier own expense accounts, or if I can dump them into

> COGS or overhead expenses with other things.

Asking your accountant is step number 1. If you were my client I would say
yes you should. I still have no idea what you are talking about with the
item thing.

> GC

>>> Our company pays a flat rate workers comp, then after audit we pay or

>>> get back the difference.

>>>

>>> I have a database I use for payroll that will tell me how much debt I am

>>> accruing for the workers comp each week, and also it will tell me how

>>> much is in what construction category (drywall, foundations, framing,

>>> etc.).

>>>

>>> In QB (contractor 2006) I use items to categorize into these

>>> construction categories.

>>>

>>> I'm trying to figure out how I can enter these debt accruals into a

>>> liability account using items so it keeps track of the construction

>>> categories. When I use a general ledger entry I can't use items.

>> Why do you need to use items?

>>>

>>> I don't want to enter them as bills, because it shows it as being due

>>> now, but it isn't really.

>>>

>>> I could show it as a bill due well into the future, but I'd rather show

>>> it as just an entry to a current libility account so it doesn't show up

>>> in my bills.

>>>

>>> Any suggestions?

>>>

>>> G Chapp

>>>