At the end of a job when you deposit the final check into the bank do you look at your current balance and wonder where all the money went? Do you have enough money to operate and grow your construction company or are you giving it all away to labor, material, other costs and subcontractors?
If so, you are not alone. We have worked with many construction business owners who were struggling with job costing. The good news is there is an easy solution to your job costing challenges. You're in the exact right place to learn about solution designed especially to help you read and understand your Job Costing and Job Profitability reports without having to setup QuickBooks and generate the reports yourself.
Most Contractors with yearly sales volume over five million dollars have extensive job costing and job profitability reporting systems including comprehensive historical job cost libraries so they know how much each task cost and they use that information to know which projects to bid on and which ones to let go. As Kenny Rogers says: "You got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run."
Most Contractors with yearly sales volume under five million dollars can't afford a job costing and job profitability reporting system so they search the web looking for answers and end up with a headache from all the chaos and confusion.
Mastering job costing is critical to your business success and profitability
Hello! That is why I am searching for a solution!
Job costing requires a constant balancing act between profitability and competitiveness
Really? Tell something I don't know!
It helps you know where you are making and losing money
Please forgive my strong language but are you Captain Obvious?
Be sure to accumulate your W.I.P. costs in proper asset sub-accounts
Can I get that in plain English please?
Earned value reports are for journal entries offsetting contra-accounts in over/under billing
Which means what exactly?
Separate direct costs, indirect costs, expenses and below the line other expenses
Yes, I want direct and indirect job costing reports, now how do I get them?
Spend thousands of dollars complex custom job costing software
Waste months in setup and never get a decent job costing report!
I am a contractor not a student looking to enroll in self-study classes!
Spend less than $300 on QuickBooks for Contractors
Waste weeks in setup and still can't get a decent job costing report!
Again, I am not a student enrolling in self-study classes!
Hire bookkeeper or accountant who knows nothing about construction accounting to setup QuickBooks for Contractors and make a pig's breakfast of it!
We can do it all for you In most cases faster and cheaper than doing it yourself or wasting time and money paying someone else to figure out the difference between regular accounting and construction accounting. Job Costing takes years to learn and special skills to get it to work properly in QuickBooks for Contractors. I know because we invested over ten years putting it together and working out all the bugs.
We setup QuickBooks for contractors to work for your specific construction company by importing our custom QuickBooks contractor template modules. We have modules for all residential and commercial contractors including specialty contractors and handyman contractors.
We handle your contractors bookkeeping services needs and you can choose the Job Costing and Job Profitability Reports that best suits you.
W.I.P. Based Job Costing And Job Profitability ReportingContractors working on projects that require Work-In-Progress (W.I.P.) based reporting like land development contractors, spec home builders and special commercial tenant improvement projects who need a combination of asset based accounts and Cost of Goods Sold accounts we recommend our custom W.I.P. Job Costing and Job Profitability reports including estimates vs. actual reports.
This option is based upon direct and indirect costs codes special W.I.P. accounts in the Chart of Accounts. In the modules we use to setup QuickBooks for contractors and we include data from the Items list, Schedule of Values with or with breakouts for Labor, Material, Other and Subcontractor costs.
We have several custom schedule of value modules for W.I.P including the CSI 16 or 50 Divisions and more. If you have your own schedule of values we can add them to your QuickBooks Setup and properly code them to the Chart of Accounts.
If you have your own Items list, schedule of values and W.I.P. codes we can put them into your QuickBooks Setup and properly code them to the Chart of Accounts.
We can automatically generate your Job Costing and Job Profitability reports and send them to you on whatever schedule suits you best. We have construction accountants who can review the reports with you and answer all of your questions.
Put It All Together With A Job Costing Library
QuickBooks For Contractors desktop version is availabe 24/7 on a secure cloud based server if you want to interact with it and monitor the data entry and additional reports in real time.
You don't need to every open your QuickBooks for Contractors file if you prefer not too because either way we will automatically generate your Job Costing and Job Profitability reports and send them to you on whatever schedule suits you best.
Our construction accountants are available to review the Job Costing and Job Profitability reports with you and answer all of your questions.
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