QuickBooks 2013 For Dummies

Comparing Estimated Item Amounts with Actual Item Amounts

In the previous paragraphs, I describe how you can take an estimate and create an invoice by using that estimate as a starting point. I also say that you can edit the numbers that come off the estimate. Now, here’s an interesting job costing point: QuickBooks prints reports — like the one in Figure 16-4 — that let you compare the item estimates shown on the original estimates with the actual billed items shown on invoices.

To produce such a report, choose Report Center⇒Jobs, Time & Mileage⇒Item Estimates vs. Actuals. QuickBooks displays a report that lets you compare estimated amounts with invoiced amounts. If you bid jobs by using estimates but must invoice with actual numbers, such a report is a great way to see how good of a job you’re doing in your estimating.

Figure 16-4: An Item Estimates vs. Actuals report.