Invoicing Commercial Tenant Improvement Projects
Trouble With Commercial Tenant Improvement Project Invoicing?
Down payments to track?
Change order payments to track?
Multiple progress payments to track?
A lot of commercial contractors use QuickBooks to keep track of the job costing and invoicing their customers.
When a commercial tenant improvement project is small and only has one or two invoices it can work well. The problem we and our clients have found is that when you get beyond two invoices, add a job deposit or have change orders the process gets real tricky and there is no "Magic Button" the bookkeeper can push to generate an invoice that makes sense to your customer.
Having used QuickBooks since the very first DOS version in the early 1990's we believe it is a great construction accounting software for financial reports and Job Costing Reports; however something's like Payment Applications are still best done in Excel.
So we developed an Excel solution that generates an invoice on two pages and tracks the progress of the project and shows the whole story from beginning to end in a fast and easy way that everyone can understand. We would like to show it to you and get your feedback.
These are commonly known as pay applications and G702 G703. The construction bookkeeping is done in QuickBooks and during the QuickBooks setup there are some special accounts and lists that we install ahead of time. These more complex invoices have the ability to keep track of multiple deposits, payments, change orders, payment history and running totals in a way that your customer can follow. We prepare these as part of our bookkeeping for contractors package and send them to you as often as you need them. To download, click here: Application For Payment Checklist.
Pay Application Samples:
About The Author:
Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant, and construction accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and Xero accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.
Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+
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