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Project Cost/Profit Tracking
Jeev_Da_Man
Member Posts: 2
Hi,
Is there a way whereby i can tag each transaction of a particular project/event/invoice so that I will be able to track the profitability of that particulat project/event/invoice?
This will be a great feature as many business dabble in multiple projects at one time and it would be good to be able to track which of the projects are yielding more profits and which is making a loss.
Of course the general/admin expenses will remain the same without the need to tag to a project.
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@Jeev_Da_Man I usually set up accounts on my Chart of Accounts to do that. You can just make an income account for a specific project and track those numbers that way.
If you also need to track expenses, you can do the same, but for an expense account (So "Project 1 - Income" and "Project 1 - Expense").
hmm okay thank you for that.
This is one solution, but it appears the sacrifice is that you can't track expense categories over the year (travel vs supplies for example). This would make end of year reporting very difficult.
A project tag would be helpful. Or a bulk vendor tagging, using vendor names as projects
This is extremely important to me
I, too, find this feature extremely important.
This would be a great add-on. I also need to track projects. Currently, I'm just using an income and expense category for each project, but it would be nice to have those income and expenses go into the correct category, but tie to a project.
I am in construction and renovation business and need a way to track expenses of each job. I have been looking for a way but wave seems to be a pretty basic accounting app. I used to use sage when it was a program I put on my computer and if I could find the cd might still be using it.
Hopefully the programmers will find a way to implement this feature. Some way to flag transactions to project name or number.