Contractors, Know How Much Profit You Made On Your Last Job So You Can Earn More On The Next One
At the end of a job when you deposit the final check into the bank do you look at your current balance and wonder where all the money went? Do you have enough money to operate and grow your construction company or are you giving it all away to labor, material, other costs and subcontractors?
If so, you are not alone. We have worked with many construction business owners who were struggling with job costing. The good news is there is an easy solution to your job costing challenges. You're in the exact right place to learn about solution designed especially to help you read and understand your Job Costing and Job Profitability reports without having to setup QuickBooks and generate the reports yourself.
Most Contractors with yearly sales volume over five million dollars have extensive job costing and job profitability reporting systems including comprehensive historical job cost libraries so they know how much each task cost and they use that information to know which projects to bid on and which ones to let go. As Kenny Rogers says: "You got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run."
Most Contractors with yearly sales volume under five million dollars can't afford a job costing and job profitability reporting system so they search the web looking for answers and end up with a headache from all the chaos and confusion.
Top Three Categories For Job Costing Online Search
And The Only Contractor Responses Fit To Print!Why You Need Job Costing
Mastering job costing is critical to your business success and profitability
Hello! That is why I am searching for a solution!
Job costing requires a constant balancing act between profitability and competitiveness
Really? Tell something I don't know!
It helps you know where you are making and losing money
Please forgive my strong language but are you Captain Obvious?
Be sure to accumulate your W.I.P. costs in proper asset sub-accounts
Can I get that in plain English please?
Earned value reports are for journal entries offsetting contra-accounts in over/under billing
Which means what exactly?
Separate direct costs, indirect costs, expenses and below the line other expenses
Yes, I want direct and indirect job costing reports, now how do I get them?
Job Costing Software
Spend thousands of dollars complex custom job costing software
Waste months in setup and never get a decent job costing report!
I am a contractor not a student looking to enroll in self-study classes!
Spend less than $300 on QuickBooks for Contractors
Waste weeks in setup and still can't get a decent job costing report!
Again, I am not a student enrolling in self-study classes!
Hire bookkeeper or accountant who knows nothing about construction accounting to setup QuickBooks for Contractors and make a pig's breakfast of it!
Instead How About A Job Costing And Job Profitability Reporting Service?
We can do it all for you In most cases faster and cheaper than doing it yourself or wasting time and money paying someone else to figure it out the difference between regular accounting and construction accounting. Job Costing takes years to learn and special skills to get it to work properly in QuickBooks for Contractors. I know because we invested over ten years putting it together and working out all the bugs.
We setup QuickBooks for contractors to work for your specific construction company by importing our custom QuickBooks contractor template modules. We have modules for all residential and commercial contractors including specialty contractors and handyman contractors.
We handle your contractors bookkeeping services needs and you can choose the Job Costing and Job Profitability Reports that best suits you.W.I.P. Based Job Costing And Job Profitability Reporting
Contractors working on projects that require Work-In-Progress (W.I.P.) based reporting like land development contractors, spec home builders and special commercial tenant improvement projects who need a combination of asset based accounts and Cost of Goods Sold accounts we recommend our custom W.I.P. Job Costing and Job Profitability reports including estimates vs. actual reports.
This option is based upon direct and indirect costs codes special W.I.P. accounts in the Chart of Accounts. In the modules we use to setup QuickBooks for contractors and we include data from the Items list, Schedule of Values with or with breakouts for Labor, Material, Other and Subcontractor costs.
We have several custom schedule of value modules for W.I.P including the CSI 16 or 50 Divisions and more. If you have your own schedule of values we can add them to your QuickBooks Setup and properly code them to the Chart of Accounts.
If you have your own Items list, schedule of values and W.I.P. codes we can put them into your QuickBooks Setup and properly code them to the Chart of Accounts.
We can automatically generate your Job Costing and Job Profitability reports and send them to you on whatever schedule suits you best. We have construction accountants who can review the reports with you and answer all of your questions.
QuickBooks For Contractors desktop version is availabe 24/7 on a secure cloud based server if you want to interact with it and monitor the data entry and additional reports in real time.
You don't need to every open your QuickBooks for Contractors file if you prefer not too because either way we will automatically generate your Job Costing and Job Profitability reports and send them to you on whatever schedule suits you best.
Our construction accountants are available to review the Job Costing and Job Profitability reports with you and answer all of your questions.
For Additional Job Costing Options Click On The Button Below
Profitable Construction - Companies have known about the value of outsourced bookkeeping services for a long time and now you know about it too!
Our Contractor Bookkeeping Services System Is A System
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.
Thinking About Outsourcing Your Contractors Bookkeeping Services?
Click On The Button Below To Download A Free Guide
Need Help Now?
Call Sharie 206-361-3950
We Are QuickBooks Experts Specializing In Construction Bookkeeping Services
For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More.
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+