 In this presentation, we will continue adding or applying raw materials to jobs. Last time we started with the first job applying raw materials to it, we're going to continue on with two other jobs to apply the materials to them. Let's get into it within to its QuickBooks Online. Here we are in our Job Costing Company Dashboard. We're going to start off by going over to our Excel file. We're going to go back on over to our Excel file here. We're going to be in the EX1-7, same process as last time where we had applying out to the job. We've got materials that are going to be coming out of our raw materials inventory. They're going to be going into cost of goods sold. Transaction is simple as this. We're going to be increasing the cost of goods sold with a debit and it's going to be coming out of raw materials. This is going to be the effect here, that 350 and the 350 here. Last time we allocated 100,000 of it in our system to job number 14. We're going to go through the same process for 7, 4, 15 and 16. In other words, if we go back on over here, we've got our job cost system. We allocated the 100,000, which is part of the 300. We still need to allocate to job number 16, the 80,000 and job number 15, the 170,000. That's what we will continue with at this point. We're going to go back then and I'm going to go back on over to QuickBooks. We're going to be opening up our QuickBooks file or new, open up new and then we're going to go to the expenses. We're going to use that expense once again in that kind of unusual way that we're going to be basically making a journal entry with it and not actually affecting the cash account. I'm going to make this to the miscellaneous vendor that we had set up last time, miscellaneous vendor because there's no actual vendor. I'm going to put it to the clearing account that we will be using. I'm going to minimize this one. I'm going to be put into the clearing account rather than the checking account. We're going to be making this, I believe it was as of the 7th 010720. And we'll just make the method be cash. All right. So then I'm going to minimize the category for now and we're going to go down to the items. We're going to list out those items and note here, as with the prior presentation, we will be basically listing out items that will fit into the materials items, that list of materials that we had and add up at the end of the day to that 170,000. That is our objective. So going back over here, hopefully we can do this with no problems this time that went pretty smooth last time, I think, but this time like more smooth wood finishing, we're going to start off with the wood finishing. We're going to say 30,000 on the wood finishing. We're going to say that that's going to be a billable item. And we also are going to say that this is for job number 15, job number 15. And then we're going to move on and we'll add another item, which is going to be wall covering, wall covering like wallpaper. Another kind of coverings of the wall 21,000, 21,000 for the wall cover and going to make that billable as well. And we're going to make that job number 15 as well. And then the next one is going to be the stucco stucco stucco. That's the one we want. And we're going to be picking that up for the 29,000 is what I think I want here. I can't see it as clearly in my little sheets that I had written down because I'm cheating on the cheat sheet. It's supposed to help me out tab. See what else we have here. Next one we're going to pick up is a staff and this isn't, this is not wages. This is a staff, which is actually an artificial stone of some kind. So the important thing is it's not wages. We're talking about here. It's the staff and that's going to be for 15,000. We're going to make that billable as well. Of course, and that's going to be for job number 15, too. And then the next one is going to be the flooring. I thought we already did that. No, we didn't do that. We did the wood finishing. This is going to be the flooring. And so we'll pick that up. And that's going to be for the 26,000, 26,000. We're going to make that a billable item, too. And we're going to say this is job number 15 as well. Then we have the dropped ceiling, drop ceiling, drop that ceiling. And that's going to be for 11,000. As long as it doesn't drop too far on my toe, don't drop the ceiling on my toe. That's going to be for job number 15, so job number 15. There we go. And then we're going to say, what else do we have here? The next one, we're going to say this is the ceramic tile. And that one is going to be for the 6,000, 6,000. That's going to be, of course, a billable item, too. And we're going to say it's going with job number 15, job number 15. If we then scroll back down, we're at the 381. That seems high. I think this wall covering is probably too high. So I think I put too many zeros in the wall covering. So let's bring that back down to the 21,000 on the wall covering because I don't think wallpaper is that expensive. And then let's check what we have here. Let's go back to our Excel, see what we have. It should be 212. So 212. Let's add another item here, which is going to be the surface finishing. So let's do that again. That was the surface finishing. So there we have it. And that's going to be for the surface finishing. We need that for 32,000. And that brings us at the 224. OK, and then I'm going to change the ceramic tile to 6,000 to bring us to the 170. So we have 6,000 here in the ceramic. And then we've got the 32 in the surface finishing. And you want to check that off and bring that to job number 15. So the full thing looks like this. This is everything we have here. This didn't go quite as smooth as I was thinking, but still went pretty smooth. Those were good on that. So we're going to say, OK, and now that's the first side of it. Now notice up top, we're at the 170 here. That would be decreasing the checking account. In this case, the clearing account, we don't want to do that. The items are doing what we wanted to do. Those are going to be increasing basically the cost of good sold accounts. The other side, it would be going to checking. That's not what we want. What where do we want it to go? We wanted to be decreasing the materials account to do that. We're going to go into the category here and I'm just going to be putting raw materials. So raw materials right there. That's the one that's the one and we're going to just say negative then of the 170,000 and there it is. We're not going to make it billable. We're not going to assign to a customer. We now have a zero up top and it should then be decreasing the raw materials. The other side going to the cost of good sold accounts driven by the items that we put into the items here, just like it did in the prior presentation. I'm going to say save a new and enter the next job before we go check things out. So I'm going to say save a new and let's do this one more time, one more time. And then we have to stop doing this because this is the last job that we have to do it for. So next one, I'm going to say the pay is going to be miscellaneous again. I'm just going to put miscellaneous and I'm going to say that it's clearing accounts. I'm going to close this window to the right side. It's going to be as of the seventh as well. I'll put cash for the method and then we're going to go down. I'm not going to go to the category first. I'm going to go to the inventory items first. So we're going to go to those inventory items. If I jump back over to the Excel worksheet, we see that now we're looking at job number 16 where we have 80,000. We're going to be adding up those inventory items basically to line up to that 80,000. Just to give an example of different kind of items that we could be including here. So let's pick some items out here. I'm going to say that we're going to this this job is going to have a cement renderer, render. A renderer is going to do the cement render. So that's going to be the 12,000. This is going to be job that we're going to make this, of course, billable with a little check mark there and then I double checked it. And then this is going to be job number 16. And so there we have that. Then we're going to have the ceramic tile, ceramic tile. That's nice stuff. Twenty one thousand. Woo, better be nice. We're going to say it's going to be checked off for the billable time. It's going to be job number 16 for the project. And then the next one is going to be the flooring. This is going to be the wide plank floor. That's going to be for the 9000, 9000 on the wide plank floor. We're going to make that a billable item. And this is once again going to be job or we're going to have then the paint. We're going to have paint and the wood stain, the wood stain and that Fox stuff. And that's going to be for the 10,000. And I'm going to check that off as billable, of course. That's going to be for job number 16, job number 16. Next, we're going to have the marble, marble and going to make a statue out of it. This is going to be for the 21,000, 21,000. It's going to be billable number 16 once again. And then we have the plaster, plaster and the gypsum board, the good old plaster and gypsum board. That is going to be for 8000. We're going to say 8000 here. That's once again, of course, going to be billable. And job number 16 is the one we're working on at this point. And now that adds up to 81,000. So let's just make this 7,000. Let's kind of cut. We're going to cut some corners with that gypsum board, the plaster board. We don't need that much of it. We don't need that much. It's going to be 7000. So that brings it up to that 80,000 that will match what's on our Excel worksheet over here. There's the 80,000 on the Excel worksheet. Now we're going to record the other side of it. Same process. We're going to go back up top and say, hey, we don't want it coming out of the checking account. We're just using this checking account in order to help us to use the items, which we couldn't do in any other way like a journal entry. So therefore we're going to go up top and go to the category where we were where we will just add an account. That's going to be the raw materials accounts, raw materials. And so we're going to pick that up. And that's going to be for a negative 80,000. We're not going to do any billable or customer that will then make the zero up top. What's going to happen when we record this one, just like the last one, except the amount is different and the job is different. It's going to be recorded into the expense accounts in accordance with these items, and that's going to be the cost of good sold accounts. Then the other side is going to be going to reducing the asset account of the materials, kind of like our inventory account. And then it'll be affecting the jobs. So what we will be able to track these items and apply them to the job, in this case, job number 16. Let's check it out. We're going to say save and close this time with a little drop down, which is really a rise up. And we're going to go to because it went up and set it down. So rise up. So we're going to go to the save and close. Save and close. And then let's go to our reports. We'll go to the reports on the left hand side, inside the window with the hamburger on it. And then we're going to look at our favorite reports. That's going to be the balance sheet report. That's the first one. We'll open up the balance sheet report, one of our favorites. It's a good one, as everyone knows. I don't have to tell you about it. If we go on down, then we're going to say that the clearing account here is at zero because it went in and out of the clearing account. So that should always be zero, but you could see the transaction there because we use an expense form. So we won't go into it because we did it last time. And then we're going to go to the raw materials is now at the 50,000. That's what we expected it to be. And we have these two expenses here for the 170 and the 80 and the 100. And if I go back on over to our items over here, we basically entered them one at a time, those three adding up to the 350,000 then. So then we're going to be minimizing this. Let's go back to our reports up top. We're going to go on back on over to the reports. The other side's going to be on the income statement. So let's not close the balance sheet. Let's go up top to the tab up top, right click on that tab like we've been doing and then duplicate it. That's the way to do this thing because then you get the balance sheet on the right hand side. Then we go back to the left hand side where we can do new stuff by opening up the hamburger going on down to the reports once again. And then we can go to the profit and loss report, the P and L, otherwise known as the income statement. Once open, I'm going to close up the old hamburger and then check out what we have at this report. That's really where the action is, is where all the action's happening. If we close up the cost of goods sold and everything's in the cost of goods sold, there's the 350,000. That of course matches what's in our cost of goods sold account on our trial balance when we did this basically in Excel, just matching that out. So then if I was to see the more detail within the cost of goods sold, I can see the activity within it in the income statement including the materials here. In this case, just the materials is all we have thus far for 2020. We have more information if you were to go back to the prior time period, maximizing that again, then we can go up top and we can say, hey, I'd like to see this by job. Let's check it out by job. So if we go from the total dropdown and we'd say, hey, let's look at this by customer, which is going to basically include the jobs at this point and we can filter the jobs to look at open jobs and closed jobs and that kind of thing. But we got these three jobs and now these three jobs now are allocating out the materials, which we can see in this format. I can minimize them. The 100,000, the 170,000 and the 80,000 mirroring what we did on the Excel worksheet over here, the 100, the 170 and the 80 for job 15, 16 and 17 or 14, 15 and 16 respectively. And then we could see more detail of course with the materials dropdown. So that then is going to be the information that is the 350, that'll tie into what's on the balance sheet. If we go back to the balance sheet on the right hand side, then that's going to tie out to what is in the income statement down here, 350 in the current year and the current time period. But we also want to tie out to like the open jobs. We want to know what's in the open jobs. So if I go back to the job reports up top, these three jobs are their open jobs, but they were started before this time period. So if I wanted to bring it back, let's bring it back on back to like 2019 and then say I want to run that report again. Now we can see that we have those beginning balances will be included. And if we go on down to the bottom, now we've got job 14 has the 141 in it. If we go back on over here, that's going to be for the total job now, including the beginning balances because it's running over that year into time period. Job number 15 is the 212 and then the 80. So here's the 212. Job number 16 didn't start until 2020. So it was at 80 in the current period, as well as 80, including prior period because it wasn't open in the prior period. So that's going to be that information that will help us out then that beginning balance, knowing what that beginning balance is or the beginning balance portion of it will help us out if we need to do an adjustment to kind of tie out to a completed contract or a work in process type of thing. If we need to do some kind of adjusting entry for financial reporting purposes at the end of the period. So then let's go ahead and right click on this tab again and duplicate this tab. Let's go back to the tab to the left now and let's open up the old hamburger, the hamburger. And then let's go to the projects. So within the projects, we can view this information in another format as well. So I'm going to close up the old hamburger once the projects tab is open and we have the information for the project. So we've got the three projects now, those consisting of 14, 15 and 16. So if we went down to like project number, let's say 15, we opened up project number 15, then we can see more detail related to this project specifically. Income lines, we don't have any income lines thus far. We've got the expense lines that include the material. We've got the net profit. We can see the transactions for this particular job. We can see the time activity. If we had time activity for employees, we'll talk more about that later. And then we have the project reports, project profitability, time and cost and unbuild time and expenses types of reports. So we can get a nice overview of the projects here if we want to drill down on individual projects as well. So that's going to be it for now. Let's get out of here.