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.
This Is Only The Tip - Of the Iceberg. Everything we publish in our blog posts, articles in other websites, and anything you can find on the web is nothing compared to what is available to you as our client. We show only the basic tools to open your mind to the possibilities that are available to you. The best finish carpentry tools in the hands of a golf professional without proper carpentry training will not produce anything near to what a skilled finish carpenter can. The same can be said about the best construction business consulting and accounting tools in the hands of a skilled finish carpenter. And I say that with respect and admiration for everyone in construction.
When You Become A Client - Then we can tap into our resources of knowledge and strategy banks. We use the reports hidden in your QuickBooks in order to diagnose and understand your construction business and develop plans and help you implement a path to success for you and you alone because every contractor has unique Strengths, Weaknesses, Opportunities and Threats (S.W.O.T. Analysis) that when understood can lead to a Strategic Roadmap which cannot help but make a lot of money.
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Profitable Contractors and Construction Company owners have known about the value of outsourced bookkeeping services and contractor coaching services like ours for a long time and now you know about it too!
We Scan Your Receipts And Invoices link the appropriate transactions to QuickBooks or Xero Accounting Online depending on the construction accounting service you are using and provide ongoing Cloud Based Contractors Bookkeeping Services by accountants who understand construction.
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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 and Bill.Com Certified Guru. 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. Follow Randal on Google+