QuickBooks Set Up For Framing Contractor
QuickBooks Set Up - By a QuickBooks expert in construction accounting to work specifically for Framing Contractor on whatever year and version of QuickBooks you own because we have worked with QuickBooks since it first arrived in the early 1990's in DOS.
More Framing Contractor QuickBooks Digital Products Available HERE!
Which QuickBooks Edition - Is right for you? It depends on your annual sales volume and what QuickBooks Reports you want to have.
QuickBooks Pro - Works well for all contractors with less than $250,000 annual volume because your QuickBooks Reporting needs are not great.
QuickBooks Premier Contractor - Is what we recommend for contractors with more than $250,000 annual volume currently or projected in the next 12 months. The difference in cost is very small compared to the potential value.
The Most Important - Part of QuickBooks Set Up for Framing Contractor is having a QuickBooks expert with a deep background in construction accounting who understands what your particular construction company needs. Among other things you need a fast and easy way to monitor the financial health of your construction company. QuickBooks Premier Contractors Edition provides a running scorecard of Key Performance Reports and when used with Business Process Management Tools like what 10 minutes of waste costs their company.
Here Are Some Things To Consider:
You use QuickBooks to track all the costs and generate Complex Payment Applications Item Estimates vs. Actuals, Job Profitability Summary and Job Profitability Detail Reports to monitor progress so the QuickBooks setup is critical
Your Chart of Accounts is focused Goods Sold Accounts (COGS) to allocate project costs
Your QuickBooks expert can setup the Five Key Performance Indicators (KPI) to monitor the financial health of the business
Your QuickBooks set up will need 1,000 to 5,000 Items setup to track all the costs of the construction process from beginning to end in order to get the reports you need
QuickBooks Set up for a Framing Contractor business requires a mix of Direct, Indirect, COGS and only a few WIP accounts
You need a simple way to track and get paid for retention
The day to day input is also the second most difficult and to be done properly requires accounting staff with specialized training in construction accounting
Our experience has been that contractors in general can generate a stable income and is not as sensitive to the ups and downs of the new construction market
And of course Cheap Bookkeeping is the one area where short term savings is overwhelmed by making bad decisions based upon inaccurate QuickBooks reports
Having Used - A number of accounting programs over the years we believe when your QuickBooks setup is done correctly by a QuickBooks expert in construction accounting is the best, hands down, no contest! For the construction trades the tiny amount of money difference between QuickBooks Pro and QuickBooks Premier Contractor Edition is worth the investment for the additional a Contractor Reports alone. Upgrading every year is a “no brainer” because of all the new features and if a contractor’s construction accounting staff only saves only 10 minutes a day the savings will more than pay for the program.
Our Mission - Is to “Help Contractors Achieve Their Definition Of Success”.
We Contract - With An Intuit Authorized Commercial Host Company that allows you, your staff and us to access your QuickBooks Desktop Version Online all at the same time.
We Support Xero Accounting Online And QuickBooks Desktop In The Cloud
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Call Sharie 206-361-3950
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. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+Follow Randal on Google+