QB Issue Resolution:

“Cost codes” are QB ITEMS.

Project Budget = QB Estimate. You list the Items and the costs here. This is Scope of Work for Price.

“Pay items are completly different than cost codes.”

They don’t have to be, but they can be.

For instance, under a T&M project, they won’t be different.

Under a fixed fee contract, they would be different.

Under a progress invoicing project, they might be different and they might not.

It just depends on what you are paying for and what you are charging for.

Items control the flow of the data to the accounts. Items are what we make, do, charge, buy, sell, OR buy and sell.

Resolution for Issue 'Setting up job cost budgets via Cost Codes.' available: Yes (Solved).
Source: Intuit Community forum.

Setting up job cost budgets via Cost Codes.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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