Brought to you by Construction Business Owner
Expensing Owners Time
I can't seem to get an answer to how to Expense my time on jobs. I keep a monthly calendar and write the hours I spend actually doing a job, say a tile backsplash. I pay myself though a weekly salary. But this does not give me the actual cost of a job. My accountant says since I pay myself a salary I can't expense my time?
Any help?
Views: 1
Replies to This Discussion
-
Permalink Reply by Fred Smith on -
This may or may not help you, but here is what I do. When I work I have to do certified payroll so I just pay myself a wage that includes the benefits. This puts the labor hours in the jobcost area and it complies with the certified payroll requirements. You may not have the headache of certified payroll but it will show your labor hours charged to that paticular job or project. I hope that helps.
-
Permalink Reply by Nancy Smyth on -
In your accounting package there should be a place to enter your hours in a weekly timesheet - this should flow into the payroll portion of the software and then not only post your hours to the correct job and cost code, but also post payroll costs (wages).
The Place to Connect with Contractors Worldwide
About
© 2012 Created by Hardhat Connect.
