Are you unhappy with QuickBooks Online but like the easy online access? We have a solution for you! We can move everything from inside QuickBooks Online into QuickBooks For Contractors Desktop version and provide you with easy online access.
Now you can have the best of both worlds, QuickBooks For Contractors Desktop with Online access! Call Now 206-361-3950 ask for Sharie or sharie@fasteasyaccounting.com
Limited Job Costing Reporting
Limited Sales Tax Reporting
Limited Custom Reports
Limited Report Formatting
Limited Detail On Reports
Limited Filtering Of Reports
Limited To One Window
Limited Tech Support
Limited 3rd Party Apps
Slow Response Time
Wasting Time Moving Between Windows
Cannot Easily Link Multiple Companies
Payroll Issues
Importing multiple transactions
Importing IIF Files
Updating Chart of Accounts
Work-In-Process (WIP) Reports
No Inventory Reporting
Problems With Retention Held Reports
Problems With Retention Due Reports
Purchase Order Tracking
Job Progress Invoice Tracking
Corrupted Trial Balance Reports
Corrupted Financial Reports
Cannot Create Item Reports
Cannot Backup Before Performing Major Revisions
Too Many People In The File
QuickBooks Online Is Like A Doorknob Where Everyone Gets A Turn
Not Enough Controls To Keep Amateurs From Really Causing Problems
Tax Accountants in an effort to make QuickBooks online easier for them
Pages Regularly Become Unresponsive The Program Needs To Be Restarted
QuickBooks Online is a great program for small companies including some non-profit organizations but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales.
Most Construction Companies started using QuickBooks Online so they could get to their QuickBooks Pro or QuickBooks For Contractors file anywhere they have internet access 24/7.
Just when you thought our special brand of outsourced contractor bookkeeping services couldn't possibly get any better...it does...yet again!
We provide professional contractor bookkeeping services primarily for construction company owners with annual sales volume $0 - $5,000,000 using the full desktop version of QuickBooks For Contractors which rests on an Intuit Approved Commercial Hosting Service.
On demand 24/7 internet cloud based access to your QuickBooks Reports including Profit & Loss, Balance Sheet, Receivables, Payables and more without having to own or open QuickBooks For Contractors!
Business Owners - Need three basic reports, Cash, Profit and Equity
Cash On Hand................(Bank Balance - Un-cleared Checks) = Cash
Profit And Loss Report.........................(Sales - Expenses) = Profit
Balance Sheet Report..........................(Assets - Liabilities) = Equity
Regular Accounting - Is roughly 80% of all accounting and Accounting for businesses in the world. So it is practically the only thing taught in schools, colleges and universities.
This Type Of Accounting Is Used - Where customers comes to the place of business or at most you ship or deliver a packaged product. In essence you are selling a product or a service from a fixed location.
Regular Accounting Has These Things In Common:
Sales - With 1-4 categories
Cost of Goods Sold - If they sell products with 1-4 categories
Expenses - Overhead required to maintain business operations
Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. It is easy to run reports to determine which items are profitable and unprofitable and make adjustments quickly as needed.
Construction Accounting - Is roughly 15% of all accounting and Accounting with manufacturing making up roughly 5%. So it is given very little attention in schools, colleges and universities. What little of it I have seen makes me very upset because I see the damage caused to contractors making management decisions on inaccurate reports. The System Is The Solution
This Type Of Accounting Is Used - When the entire place of business is packed up and taken it to the customer. In essence you are selling, assembling, delivering and installing a customized product from a mobile shop on location. Think of it like shooting a movie on location without all the glamor, resources and money to go with it.
Construction Accounting Has These Things In Common:
Sales - With 1-10 categories
Cost of Goods Sold - Has Direct and Indirect Job Costs with 25 - 200 categories with 1,000s of sub categories
Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting
Breakeven - Very difficult to calculate because most projects are one-of-a-kind custom jobs. Proactive contractors have systems and cost libraries with pre-priced assemblies for bidding which works in conjunction with Strategic Construction Accounting to provide management with progress invoicing, job costing and job profitability.
Job Costing and Job Profitability Reporting - Is similar to the Company Profit and Loss report except that it is specific to each particular job and has different expense codes. These reports in combination with the Five Key Performance Indicators are what help the contractor understand which projects to pursue and which ones to ignore. They form the foundation of a Business Process Improvement Plan and Construction Business Strategy.
Shown Below Is A Short List Of Titles commonly used for construction accounting and regular accounting. The list is intentionally short in order to make the point without being completely overwhelming.
We Never Cease Being Amazed - When we find someone who is doing the Accounting for a contractor and other unrelated industries and treats the construction business like any other business.
Example #1 - The contractor asks the bookkeeper "How much money did we make on the John and Mary Doe house remodel?" The bookkeeper generates a report showing $5,000 profit when in reality it was a ($15,000) loss! QuickBooks setup was done like every other Accounting business and $20,000 worth of transactions was put in the wrong category. In this case some direct costs and some indirect costs were misallocated and not assigned to the job.
Example #2 - The contractor asks the bookkeeper "How much money did we make on the Bob and Sally house remodel?" The bookkeeper generates a report showing ($5,000) loss when in reality it earned $5,000 profit! QuickBooks was setup wrong and $10,000 worth of transactions was put into the wrong category. In this case some overhead costs were classified as direct costs and assigned to the job.
The Inevitable Result Is - The contractor makes bad decisions on what to bid and not to bid on and eventually runs out of time and money.
For More Information See QuickBooks Setup For Contractors
Professional Accounting Services At An Affordable Price
Profitable Construction - Companies have known about the value of outsourced bookkeeping services for a long time and now you know about it too!
Profitable Construction - Companies have known about the value of outsourced bookkeeping services for a long time and now you know about it too!
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