I had a client recently ask for an analysis of Labor Costs vs. “Covered” Labor Costs. In other words, several of their management personnel are invoiced for the cost to employ their assistants. The Big Boss wanted to know how much was covered vs. how much remained overhead burden.
Easily done! First, run a Payroll Summary for a certain time frame (I used the first 4 months in 2010):
Click the Export to Excel option in the Summary Window:
Now, if you use an ITEM in your invoicing to reflect the Reimbursed Expense, you are home free:
(NOTE: If you don’t have a specific item to track a specific reimbursement, now’s the time to consider setting one up!)
You can run a Report called Sales by Item Summary and compare the amounts reimbursed to the direct costs.
I clicked on the Detail related to the Item that matched the reimbursement (in this case, ADV) then exported THAT detail to a new sheet in my Excel Report.
Comparatives were a snap to create at that point. If you would like help with any type of analysis in QuickBooks or Peachtree, or training on either of these programs, contact me. I love this stuff!
Barbara Rogoff opened the doors of Synthesis in 1994 with one client and a great idea: give high-touch detailed service with integrity and consistency. After spending 20+ years in corporate as right-hand to three different CEOs, Barbara learned the importance of organization and keeping a sense of humor!
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