QuickBooks Project Management Guide: How to Use, Tips and Tricks, Integrations, and More

In this article, we'll take a deep dive into QuickBooks Project Management, to help you use it effectively for your business.

If you’re at the helm of a construction business or are simply juggling the books behind one, you know that effective project management isn’t simply some sort of buzzword—it’s the scaffolding that supports your company’s entire operation. It acts as a central hub for all of your project management tasks, streamlining your operations in the process.

In this no-fluff guide, we’ll explore the details of project management in QuickBooks and how it can benefit your construction company.

Whether you’re a seasoned pro or new to the game, we’ve got you covered with some actionable tips, savvy tricks, and the latest potential integrations to help you simplify and streamline your overall workflow.

The Role of Accounting Software in Project Management

Accounting software is fundamental to the smooth operation of any modern construction company. Powerful solutions like QuickBooks do more than balance your books—it’s like having a financial Swiss Army knife in your greater accounting arsenal. 

With it, you can streamline what used to be a chaotic juggling act by managing your accounting and construction project management in one convenient place.

Overview of QuickBooks' Built-In Project Management Features

Whether you prefer to utilize the web-based online version or their dedicated desktop software, QuickBooks offers a robust toolbox designed to simplify your project tracking and financial oversight without additional software. 

Let’s take a closer look at some of these tools and see how they can help your construction projects stay as sturdy as steel beams you’re piling down:

QuickBooks Online

QuickBooks Online brings project management directly to the cloud, giving you and your team access from anywhere, at any time. Let’s take a closer look at how it does it:

QuickBooks Desktop

QuickBooks Desktop might be your more traditional stationary software, but it’s a powerhouse for project management on your home turf; here’s what it’s got to help you:

Whether you prefer the dedicated desktop version or the cloud, taking advantage of QuickBooks’ powerful built-in project management features means you’re doing far more than just tracking dollars and cents.

Project Management with QuickBooks Online

Let’s take a closer look at QuickBooks Online and the suite of project management functions it offers. We’ll detail how to set up projects, assign transactions, and monitor project progress.

Setting Up Your Project

Let’s take a closer look at QuickBooks Online and the suite of project management functions it offers. We’ll detail how to set up projects, assign transactions, and monitor project progress.

Properly Assigning Transactions

Continually Monitoring Progress

Leveraging QuickBooks Desktop for Project Management

QuickBooks Desktop is like a trusty toolbox for all your project management needs, and it’s renowned for its robust job-costing capabilities. 

Let’s look at how QuickBooks Desktop sharpens your overall project management skills with unrivaled precision and detail.

Job Costing Capabilities

Tracking Your Expenses

Effective Time Tracking

Resource Allocation: Maximizing Your Assets

Integrating External Project Management Software with QuickBooks

Sometimes, you need a little extra help regarding the exact specifics of your organization’s needs. 

That’s exactly where external project management software solutions come into play, offering deeper functionality that aligns with QuickBooks to form an impressive project management partnership.

Top Quickbooks-Compatible Project Management Software

Some of the top project management software options that integrate smoothly with QuickBooks include:

Try Workyard, the Most Accurate Employee Time Tracker Built For QuickBooks

Enhancing Your Project Management Capabilities

When you integrate these power players with QuickBooks, you’re not just bridging the gap between accounting and management; you’re creating a superhighway of efficiency—here’s how:

Best Practices for Integration

When it’s time to pair QuickBooks with an external project management tool, it’s like selecting the perfect teammate to help you get the job done—the right software integration can turn good project management into great project management.

Choosing Your Perfect Project Management Partner

When it’s time to pair QuickBooks with an external project management tool, it’s like selecting the perfect teammate to help you get the job done—the right software integration can turn good project management into great project management.

Syncing for Success

Once you’ve chosen your software, it’s time to sync it with QuickBooks. Doing this right keeps your data consistent and accurate across platforms.

Common Pitfalls in QuickBooks Project Management and How to Avoid Them

Let’s take a closer look at some common challenges businesses encounter and how to avoid them to keep your project on a clear path.

Muddled Job Costing

Problem: Getting your job costing wrong can lead to misguided pricing and profit loss.

Solution: Be meticulous with your item list in QuickBooks. Assign costs to the correct jobs and double-check your entries. Regularly compare estimated costs to actuals to keep your project’s finances transparent.

Disorganized Expense Tracking

Problem: Receipts and expenses can easily become a tangled mess.

Solution: Use QuickBooks’ expense tracking features religiously. Snap pictures of receipts on the go and upload them directly. Try to categorize each expense when you enter it to avoid a backlog.

Inaccurate Time Tracking

Problem: Inconsistent time entries can throw off your entire project budget.

Solution: Implement a strict policy for time tracking. Use integrated tools like Workyard for real-time tracking and ensure all team members understand the importance of precise time logging.

Overlooking QuickBooks Updates

Problem: Missing updates can mean missing out on new, helpful features.

Solution: Stay in the loop with QuickBooks updates, which can often include enhancements to project management features. Schedule regular check-ins to update your software.

Failing to Reconcile Accounts

Problem: Not reconciling your accounts can lead to financial discrepancies.

Solution: Make it a habit to reconcile your accounts monthly in QuickBooks, which ensures that your project management financials are in sync with your bank statements.

Underutilizing Reports

Problem: QuickBooks has a wealth of reporting features that are often underused.

Solution: Explore QuickBooks’ reporting capabilities to customize reports to gain insights into your project performance and use this data to make informed decisions.

Training and Support for QuickBooks Project Management

Let’s face it: trying to jump directly into QuickBooks without any sort of game plan or basic training behind you can feel a lot like trying to find your way around in the dark. 

Proper training helps light the way, ensuring that your team can leverage every feature offered to its fullest potential for your project management needs. Thankfully, QuickBooks offers a treasure trove of resources to get your team up to speed:

Analyzing Project Performance with QuickBooks

QuickBooks isn’t just about recording data; it’s a goldmine for deciphering the underlying story behind the numbers of your projects. Let’s unlock how you can use QuickBooks reporting features to scrutinize your project performance and ensure financial fitness.

The Basics of QuickBooks Reporting

QuickBooks comes equipped with a set of reporting tools that can turn a sea of data into actionable insights—here’s how to navigate these waters:

Using Reports for Informed Decision-Making

Building Success with QuickBooks

This guide took a good, hard look at robust in-built features that QuickBooks offers, unearthed the benefits of integrating top-tier project management software, and offered you some of the best practices you can use to help avoid some of QuickBooks’ most common pitfalls.

QuickBooks’s powerful project management capabilities are far more than just a simple matter of convenience; it’s a strategic move designed to streamline your operations. It can rapidly transform your business, providing the clarity and control needed to ensure that every project you undertake is built on financial accuracy and efficiency. So, take the time to assess your current business titration and consider if Quickbooks can help.

If you’re nodding along as you read or are curious to learn more, then it’s time to explore QuickBooks project management solutions further. Dive into those tutorials, engage with the community, and if you’re ready to hammer down the details, don’t hesitate to seek professional advice.

QuickBooks can do many things for your business’ finances (and even help manage projects), but it’s not necessarily optimized to track and report on your team’s labor time, nor is it necessarily the best solution for accurate construction job costing. That’s where integrations like Workyard come in handy.

With Workyard, you can accurately record everyone’s clock-ins and clock-outs to the minute with advanced GPS tracking and precise geofencing features, generate job cost reports, stay compliant with your state’s laws on breaks and overtime, schedule everyone on the team with ease, and more.

Check out what Workyard can do when you integrate it with QuickBooks… or sign up for a fully-featured 14-day free trial now!

Did you find this post helpful? Please rate it!

1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)Loading...


Try The Most Accurate Time Tracker Built For QuickBooks

Free for 14 days. No credit card required. Cancel anytime.

More On This

Construction Accounting Software: The Top 10 For 2023

In this article, we list the top 10 construction accounting software programs that could help your business thrive in 2023.

Read More

8 Best Project Management Construction Software Solutions In 2023

In this article, we list the 8 best project management construction software solutions for 2023. Quickly filter by key features and business size to find the right option for you.

Read More

Estimates in QuickBooks: How They Work and How to Use Them Effectively

In this article, we'll examine estimates in QuickBooks and how to use it effectively, with tips and tricks to streamline your workflows.

Read More

QuickBooks Contractor: Guide: Tips, Tricks, and Top Integrations (Software Recs)

This guide will help you decide if QuickBooks Contractor is the best accounting software for your construction business, with details on features, pricing, and more.

Read More