Question

In QuickBooks Online Which statement is true regarding hourly cost rate for Projects?

1. When using the hourly cost rate calculator, the boxes are initially populated from the employee record
2. The hourly cost rate is initially populated by the vendor’s or employee’s billable rate
3. When on the Projects Dashboard, you can enter an hourly cost rate for a vendor
4. Best practice is to use the hourly cost rate field when you are not using QuickBooks Payroll
5. Best practice is to enter time for each vendor, use the cost rate per hour and split the vendors’ bills by project

Answer 1

Answer is option (c).

So,the true statement is option c

461 - V 5 0.00k/s 23. UN 46 u ar Jl 46% · 14:10 2019 hector 2010 hectare DU3019 hector 03/03/2019 hector garcia 50.00 Second Mode: If QuickBooks Payroll is not enabled (for example, when using a third-party payroll processor), QuickBooks can estimate labor costs based on the time entered on the timesheets multiplied by a manually calculated burdened rate. In the Projects tab, you will see a new button that says "Hourly Cost Rate": quickbooks 6 days left to get 50% off Subscribe now Dashboard Projects Hourly contrate Banking In progress All customers projecte Sales PROJECT CUSTOMER PROFIT MARGIN TIME Expenses ACTIONS Consulting for Kathy Workers Project 1 20:00 Reports Towes And Inside the Hourly Cost Rate screen, you can enter the gross wages and additional items to calculate the burdened rate, such as: Employer Taxes, Worker's Compensation and Additional Overhead: lays left to get 50% off Subscribe now Hourly Cost Rates Include the total of wages, taxes, and overhead for each worker. This is not your billable rate + Add Employee EMPLOYEE COST RATE Emma Thomson 32.86 Cancel Save $0.00 50.00 Hourly cost rate calculator Wages(/hr) $25.00 51.6000 $1,502 $1.91 Employer taxes (/hr) (7.65% Social Security & Medicare) Additional employer taxes (/hr) (SUTAFUTA etc.) $0.50 Workers compensation (/hr) $0.45 Overhead (/hr) $5.00 Total hourly cost rate $32.86 Cancel Add

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