Time sheets, showing each job. My rule of thumb is double their rate of pay to arrive at a loaded time expense figure. That errs on the safe side in most cases.
For a simple business (one business entity, one division) the online version of QB is cheap and has all the features you need for this. When business advisers tell you to “watch the fundamentals” this is exactly what they are talking about. You need a P&L each month, and a balance sheet and statement of cash flows as often as you can get. I can live without the statement of cash flows as long as there is always money in the bank and all the bills are getting paid. I only need a balance sheet once or twice a year. But I want that P&L as soon as I can get it after the month closes. If you have your GL accounts set up right, you can see exactly what is going on with your labor and other costs of goods sold. From: That One Guy /sarcasm Sent: Monday, January 16, 2017 8:39 PM To: [email protected] Subject: [AFMUG] tracking manpower budgets I need to track my allocation of funds, I have incremental amounts of dough available to me for buying goodies, outsourced work, and cash money guys up to the tax limit. The boss uses an older version of quickbooks so i dont know if there is tracking in there. The biggest issue I personally have is I turn in hours and a recommendation of value on the cash money guys, I dont even know what they get paid unless they tell me, I know its somewhere between 10-15 bucks. Outsourced work sends an invoice, currently its just my guy, so he will CC me on it so ill know, but others may not as I pull in more third party folks. I just need something simple, that a boss who doesnt want to use anything other than he uses would use so I can monitor my budget. To be honest, im the cheapskate in my deal with the boss, if I go over my budget he will keep paying the bills. I have a pretty substantial chunk of dough (per my standards) that I would prefer I get the most out of, I just dont have a clean way of tracking what I spent. -- If you only see yourself as part of the team but you don't see your team as part of yourself you have already failed as part of the team.
