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    Invoicing Construction Clients The Fast And Easy Way

    Posted by Sharie DeHart on Fri, Dec 03, 2021

    Creating invoices and receipts is vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need invoices for their tax purposes and to manage their finances. Paper receipts and invoices have been around a long time, so many people are used to them and may even resist moving away from them. 

    Thanks to technology, paper receipts and invoices are becoming more a thing of the past. There are environmental reasons for the move. Paper invoices require millions of trees and billions of gallons of water to produce, and they emit carbon dioxide (CO2), so going paperless can be a good thing for the environment.

    The Old Way Contractors Invoiced the jobs was sometimes just as much or more work than doing the job itself.

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    Topics: The Contractors Account, Invoicing, Systems And Processes, Construction Company Cash Flow, accounts receivable for contractors

    Take The Stress Out Of Identifying Cost Of Goods Sold And Other Construction Accounting Confusions

    Posted by Sharie DeHart on Tue, Apr 16, 2019

    Contractors often ask us if they can buy our Chart Of Accounts with Cost of Goods Sold and import them into their QuickBooks Desktop file or their QuickBooks Online file. The answer is yes!

    Click here for QuickBooks Desktop Chart of Accounts with Cost of Goods Sold

    Click here for QuickBooks Online Chart of Accounts with Cost of Goods Sold

    Direct Costs are tied to the jobs (field labor, material, and other cost items) Office material (pencils, paper, toner, etc. are overhead) Yes, an accountant could say these many pencils are used in the field, and that notepad is used in the truck. 

    The answer is the dividing line of what the DIRECT COSTS to the job and those are Cost of Goods Sold (COGS).

     


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    Topics: Invoicing, We Know Construction Accounting, QuickBooks For Contractors, Construction Bookkeeping

    Profit Draining Invoice Errors Contractors Make Without Realizing It

    Posted by Sharie DeHart on Fri, Apr 05, 2019

    Creating an invoice for the entire project seems like it is the simplest way to track payments and have the current balance. The harsh reality is that if all of the work is NOT done, accounts receivable is reflecting a balance due that is NOT REAL. Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over.

    However, due to your work’s nature, as construction contractors provide services on a per-job operation, issuing invoices make it all the more challenging and difficult than it has to be. The good news is that it doesn't have to stay that way. Consider the following invoicing errors contractors make and take actionable steps on how to avert them.


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    Topics: Invoicing, QuickBooks For Contractors, Construction Bookkeeping, Payment Applications

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