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QuickBooks Cost To Complete By Job Summary
Costs to Complete by Job Summary Report - After you enter an estimate for how far along each of your jobs are, this report will show a summary for the cost to complete each one that has an active estimate. In addition it also shows you how much you are over or under your estimate.
This Report Shows You - If your finances are on track for your active jobs with estimates, and what your expected cost is going to be to complete each of these jobs. You might want to run this report every few days or at least every week to keep a close eye on your expenses. Then if job costs start getting out of control you can take steps to correct it before it's too late.
On Each Job With An Active Estimate - The report shows estimated cost, percentage complete, and the actual cost incurred.
QuickBooks Shows - The projected cost to complete the job, expected actual cost (the actual cost you have input as of this day added to the estimated cost to complete), and the amount you are over or under your estimate.
QuickBooks Calculates Cost To Complete - And the expected actual cost of a job based on a summary estimate that has been entered for the job.
You Need To Input - How many of the estimate items are done so that when you run this report, QuickBooks will show the Updated Item Percent Complete. That is used to calculate how much of each work package or Item has been used.
Enter Percent Complete - For each item otherwise QuickBooks will calculate the item at zero percent complete.
The "% Complete" Column - Shows how the job is progressing as of the time and date when you ran the report. If you change the Columns drop-down list to something other than "Total only," this column will not change.
This Report Summarizes - The cost to complete jobs that have active estimates at any given time you run it.
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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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+