Diane and Bracken Anderson (from busybusy) recently had a great interview-style meeting where we explored why job costing is critical for construction companies. Why this matters to you: When you understand what job costing is and how to get started with it, you can then focus on your winning jobs. And that means more profits for …
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Job Costing is Critical for Construction Companies – Transcript
In this video, Diane Gilson is asked a series of questions about job costing, its importance for construction companies, and how to implement it. Why this is important: Job costing is the foundation of effective construction projects and company management. Without effective job costing systems that provide accurate and detailed job costing information, companies will …
How Cloud Hosting Really Works With Quickbooks Desktop
QuickBooks Desktop Cloud Hosting Jake Reeves (Director of Sales at Summit) joins Diane as she does a live (and “real-life”) demonstration of how cloud hosting REALLY works for QuickBooks desktop! Why this matters to you: See how you can set up your own cloud hosting “desktop.” Get answers about how cloud hosting can work for YOUR …
How Cloud Hosting Really Works With Quickbooks Desktop – Transcript
In this video, you will learn the power of cloud hosting for QuickBooks Desktop and see a demonstration of how easy and effective it is to manage QuickBooks using a cloud hosting service. Why this matters to you: If you are a QuickBooks Desktop user, cloud hosting is a powerful service that enables essential functions …
Conquer Construction Chaos
3 Innovative Options to Conquer Construction Chaos Whether you’re a trade contractor in the electrical, plumbing, or HVAC specialties, a remodeler or custom builder, or in charge of dispatching technicians, this session is designed with your needs in mind. Discover how to Conquer Construction Chaos using three cutting-edge software solutions (ECI BuildTools, Bolt, and Thermogrid.) …
Above vs. Below the Line Markups – Transcript
In this revealing transcript of the “Above vs. Below the Line Markups” video, Diane Gilson demonstrates two scenarios for determining your markup percentage based on where you account for production overhead costs on your P&L. While neither method is wrong, the second one builds more costs directly into the bid price, resulting in a more …
Above vs. Below the Line Markups
Diane Gilson’s insightful video, “Above vs. Below the Line Markups,” featured on our QuickBooks Mystery Theater, delves into the critical decision of where to place production overhead costs in financial reports and its impact on pricing strategies. She poses the fundamental question: Should these costs be above or below the Gross Profit line? The video …
QuickBooks Chart of Accounts – One Simple Way To Improve Your Reports
Your QuickBooks Chart of Accounts is the foundation for your critical company reports. What unfortunate events can occur when it isn’t set up in the best possible way? Your QuickBooks Chart Of Accounts How you set up your Chart of Accounts in QuickBooks is one of the most important decisions you can make. It determines whether …
Markup Calculator & Gross Profit Guide (+ Quick Conversion Charts)
In this article, I’ll explain gross profit percentage and markup, AND I’ll give you 2 free “Quick Conversion Charts” to print and carry with you to quickly calculate markup and gross profit percentage. To succeed in business, it’s important to understand two key concepts: gross profit (margin) and markup. Let’s start with some definitions. What …
QuickBooks Sunset on May 31 – What does it mean for your business?
Will the QuickBooks Sunset Impact My Accounting or QuickBooks Services? Quickbooks “sunset” only applies to 2021 (and earlier) versions. Until May 31, 2024, you can get QuickBooks customer support and add-on services for Pro, Premier, and Enterprise Solutions 2021, 2022, 2023, and 2024. However, if you are still using a 2021 version of QuickBooks, you …
How to ‘Carve Out’ the Results You Need For Your Business
Improving your QuickBooks accounting system to get job costing, and more useful management reports can be very similar to pulling off a family pumpkin-carving experience. You need planning and preparation, the right tools, and possibly a support system to help get the job done.
The Worst Training You Can Buy (And Waste Your Time On)
You Found the Perfect Seminar… It’s the training resource you’ve been looking for to make the changes you want in your company. The main problem – your QuickBooks company file was set up wrong from day one. You’ve been making do, but haven’t been getting the job-costing information you need. Now you’ve found the solution …
Calculating & Controlling The Cost of Chaos
From our Better Numbers – Better Business™ management series… Diane and Ken Horst demonstrate real-life examples of how you can spot common (fixable!) profit leaks so your business can become more effective, more efficient, and more profitable. Why this matters to you: You’ll discover an inexpensive, easy-to-use tool that can help you run the same …
11 Ways to Take the Pain & Suffering Out of Tax Time
How To Solve the Tax Time Nightmare If you’re someone who dreads January, February, March – and beyond – because those months seem to turn into “Franken-tax” time, you may be asking yourself: “How do other companies do it? What would it be like if I was ALL DONE with tax-related chores by the middle …
Insights About QuickBooks Project Management Apps
QuickBooks Project Management Apps – Pros, Cons & Insights Managing construction projects can be complex, and finding the right tools is key to your success. Have you ever wondered if a project management app (plug-in) might be right for you? (You may have already heard of apps such as JobTread, CoConstruct, BuilderTrend, BuildTools, and ECI’s …
Using AI to Reduce Manual Data Entry Costs and Errors
Using MakersHub AI to Reduce Accounting Costs Diane and MakersHub founders Charley Howe and Phong Ngo demonstrate how you can reduce the time your company spends on accounts payable – by 90%! This live demo with Diane, Charley and Phong reveals how you and your company can wave goodbye to detailed manual entry for Bills, Approvals, …
Using AI to Reduce Manual Data Entry Costs and Errors – Transcript
In this interview, you will learn about an AI tool that will help companies reduce accounting costs and errors by automating the process of entering bills, approving invoices and making payments. Why this matters to you: In most companies, a large percentage of accounting efforts goes into the tedious and error-prone process of manually entering …
Streamline Your Business with QuickBooks Inventory Software
Let BuildYourNumbers.com explain why you should use QuickBooks-compatible inventory software to integrate and streamline your systems. Do you have an inventory? If so, how do you keep track of that inventory? Whether you’re already using inventory accounting software or keeping track of your inventory through lists, spreadsheets, or year-end adjustments, I’m about to show you …
Top 7 Reasons Business Owners Call a QuickBooks ProAdvisor
Why You Need A QuickBooks ProAdvisor Based on 20+ years of being a QuickBooks ProAdvisor, here are the top 7 reasons businesses contact me for assistance. See if any of these scenarios sound like what you may be facing in your company… As a business owner, you learn through trial and error what makes your …
Business Overhead Expenses
Calculating overhead can be tricky, but QuickBooks can help you calculate and monitor your business overhead expenses more efficiently and effectively. Business Overhead Expenses: What They Are and How To Calculate Them Have you ever wondered exactly WHAT business overhead expenses really ARE? Do you know what YOUR business overhead expenses are? Or how to …
QuickBooks Account Reconciliations & Discrepancies
Company owners sometimes ask me: “Should balance adjustments arising from account reconciliation problems cause me any concern?” Do QuickBooks Account Reconciliation Discrepancies Matter? Account reconciliation is crucial; here’s why… You want to be certain that you and your bank, credit card companies, and lenders agree on the amounts shown in your books. (If not, you …
busybusy: Like Peanut Butter & Chocolate: Truthful Timekeeping & Accurate Labor Costs
Here’s our video with Corey Monson – Director of Partnerships at busybusy In this webinar, Corey and I help peel back the curtain on WHY “truth in timekeeping” is so crucial to increasing your company’s earnings! (Hint: It’s critical in finding your company’s accurate labor costs.) You’ll get some new perspectives, unique insights, and a …
Paying QuickBooks Bills with a Credit Card or Vendor Credits
Paying your QuickBooks Bills can be easier (even pain-free!) – when you use your software to its fullest capacity. QuickBooks Pay Bills with a Credit Card Company owners and bookkeepers often use credit cards to pay QuickBooks bills. Those who appreciate the convenience of purchasing items or paying bills using credit cards often ask how …
How to Squeeze More Profits Out of Every Construction Job With Job Costing
Job Costing – The Difference Between Profitable Construction Companies and Those Who Struggle Unfortunately, in my 25+ years of experience working with construction business owners, one thing has become painfully clear to me. There are two types of construction business owners: Those who are using job costing reports and using them well and Those who …
Job Costing – 5 Reasons Construction Businesses Need to Use It
No one wants to find out that they lost money on the job (or only made a gross profit of 1.5%!) – two or three months after a job is completed.
Calculating Labor Burden and Profits – Introduction: An Example
Labor Burden: If you’re struggling to understand and measure your Labor Burden and its effect on profit, these articles by Diane Gilson will teach you how to do it. We’ll start with some quick definitions of labor burden and how to calculate it, followed by a real-life example so you can see how it’s done. …
QuickBooks for Contractors – Using Items for Job Costing
This post about QuickBooks’ Items is excerpted from our more extensive training video that’s included in our Construction Accounting & Management Program (CAMP). QuickBooks Items: Automating Job Costing for Construction Companies QuickBooks Items enable construction companies to automatically track and report on the financial detail underlying what’s REALLY going on within the financial side of …
Avoid the Gross Profit Rollercoaster
In this interview, Diane and Dave Sullivan (host of The Roofer Show podcast) dive into what Diane calls the “Gross Profit Rollercoaster.” They explore why ‘highs and lows’ happen in a business (when the numbers aren’t lining up), and how to avoid those ups and downs. Why this matters to you: As Dave says, “You …
Avoid the Gross Profit Rollercoaster Transcript
In this interview, Diane and Dave Sullivan (host of The Roofer Show podcast) dive into what Diane calls the “Gross Profit Rollercoaster.” They explore why ‘highs and lows’ happen in a business (when the numbers aren’t lining up) and how to avoid those ups and downs. Why this matters to you: As Dave says, “You …
Labor Cost Calculator: How It Helps QuickBooks & Enterprise Users
Labor Cost Calculators and QuickBooks Business owners who use QuickBooks or Enterprise accounting software can benefit greatly from the built-in job costing features, such as its ability to assign payroll and payroll tax costs to jobs – but there is one major flaw built into those ‘normal’ job cost reports that you need to know …
Top Accounting Blogs
The accounting blogs listed below are some of the most reputable and informative online. I wanted to create a quality resource for people seeking any additional accounting advice, so below you’ll find what I believe to be some of the top accounting blogs. As an endorsement, I’ve created a badge for them to display so that …
QuickBooks Payroll: 5 Major Benefits
Yes, your initial QuickBooks payroll setup can take some time and requires attention to detail. BUT manual payroll processing requires even more work – and you have to do it over – and over – and over… Which sounds like the better choice? QuickBooks Payroll Ask any 10 small and mid-sized business (SMB) bookkeepers and …
Construction Job Costing
Yes, you may believe that job costing is a challenging facet of construction accounting! But with the right training and customization, you can easily master QuickBooks to achieve your goals! Why Construction Job Costing Matters Contractors and manufacturers must be able to accurately predict, record, and control the cost of each job. You’ll need to …
How to Use QuickBooks Job Cost Features to Achieve Your Gross Profit Goals
Job Costing In QuickBooks QuickBooks is designed to help you plan, measure, and monitor company and job results. You can even use QuickBooks Job – Cost Features to Achieve Your Gross Profit Goals! Use its management reporting tools to immediately SEE operating and financial results. Proactively correct problems – before they spin out of control …
Top 5 Tips for QuickBooks Experts Know (and You Should Too)
New to QuickBooks? Feel like you’re all alone? Well, you’re not! Every new user could use tips to get them started in QuickBooks… You’ve started your new business from scratch and know you need to really get a handle on your numbers. Maybe you’ve been recruited by a family member – or hired by a business owner …
Learn How To Use QuickBooks Online
Are you one of the many small-business owners taking on your own accounting? Let QuickBooks desktop help you like it’s helped millions others. In recent years, many small- and midsize-business owners have been steering away from using trained accountants for their financial needs and, instead, have taken on the responsibility internally – either by doing …
QuickBooks Payments: Easier, Faster ‘Money-in-the-Door’
When you make it easier for your customers to buy from you – and pay you – two things typically happen: your sales increase, and you get Quickbooks payments faster. That means enhanced cash flow and fewer collection calls. Plus, a side benefit is that customer satisfaction is often higher when goods or services have been …
Labor Profit Tip #3: Your Gross Profit Numbers May Be Misleading
Labor Burden Information Tip #3: To See Accurate Job-Cost Reports, Assign Labor Burden Costs to Each Job. If you’re looking for ways to make your company more profitable, getting a handle on your fully burdened labor costs is a critical place to start because it can show you how to: Estimate labor costs more accurately, Price jobs to …
A Tale of 4 Companies: Gross Profit & Job Cost (Part IV)
Targeting Gross Profits: How Estimators and Project Managers Focus on Goals & Job Costs at Paul’s Perfect Projects If you haven’t already read them, you’ll probably want to visit Part I, Part II, and Part III of this “Tale of 4 Companies: A Job Cost & Gross Profit Drama” before beginning the following “Part IV”. As we …
A Tale of 4 Companies: A Job Cost & Gross Profit Drama (Part III)
How Bookkeeping Supports Job-Cost & Gross Profit Measurement at Paul’s Perfect Projects, LLC If you haven’t already read them, you’ll probably want to visit Part I and Part II of this “Tale of 4 Companies: A Job-Cost & Gross Profit Drama” before starting the following “Part III.” In Part III, Paul & Dave have just …
Labor Costs Profit Tip #4: How You Can Stop Over-Runs in Labor Costs
Labor Costs Are a Risky Part of Your Business. Make an Immediate Impact on Your Bottom Line by Heading off Costly Labor Over-runs Before They Get Out of Hand. 7 Ways to Reduce Labor Costs Know and use your true, fully burdened labor costs when estimating. Increase estimating accuracy by using costs based on specific employees (or averages …
Labor Burden & Profits – How Much Do My Employees Cost?
This article by BuildYourNumbers.com will teach you more about what you need to know about labor burden and its effect on profit. What exactly is it? How Does it Impact My Business? “Do my employees really cost this much?” While you probably have a good handle on your employees’ hourly wage or salary costs, and know …
Employee Labor Cost Calculation: How Much Should You Charge for Employee Time?
Most small and medium-sized businesses don’t know their exact employee labor cost – or how much they should charge for their employees’ time. Cost of Labor: Why Do You Need Accurate Employee Labor Cost Calculations? I’m going to be bold and state that if you don’t have accurate labor cost calculations for every employee in …
Construction Profit Tip #2: Know Your Fully-Burdened Labor Rate
Example calculations illustrate that, even when employees are paid the same amount, different fully-burdened labor rates combined with different gross profit targets can make a large difference in hourly billing rates and annual profits.
Labor Profit Tip #5: The Secret to Making Better Hiring Decisions
Labor Burden Information Tip #5: Make Better Hiring Decisions by Thoroughly Understanding Potential Additional Costs Bad hiring decisions can have a devastating effect on your bottom line, so you want as much objective data at your fingertips as possible before you hire. You can use labor burden calculation information as a starting point when it’s …
7 Reasons To Love QuickBooks Desktop Assisted Payroll
QuickBooks Desktop Assisted Payroll is our payroll service of choice at Info Plus Accounting. Because we ‘eat our own (QuickBooks) dogfood,’ we know the quality of this product. And we nearly always recommend Assisted Payroll to our clients. Why do we typically recommend this product to our clients? Here are my top seven reasons: 1. …
Tale of 4 Companies: A Gross Profit & Job Cost Drama (Part II)
Paul (of Paul’s Perfect Projects, LLC) tackles the gross profit problem by showing Dave his Estimate vs. Actual variance reports. (If you haven’t already read it, you’ll want to visit Part 1 of this “Tale of 4 Companies: A Job Cost & Gross Profit Drama” before jumping into the following “Part II”…) Paul’s Approach to …
Job Estimate Tip: Use Fully-Burdened Labor Rates
Labor Profit Tip #1: For More Accurate Job Estimates, Include Fully-Burdened Labor Costs for Each Employee What Will The Labor on That Job REALLY Cost? When You Don’t Include Fully-Burdened Labor Cost Info, You May Be In For A Surprise… If you’re not using fully-burdened labor costs for every employee’s work included in your estimates, …
Troubleshooting QuickBooks Issues
QuickBooks & Enterprise Solutions are, generally speaking, stable, logical, and powerful programs.
When something isn't working properly, however, it's very easy to lose perspective and get upset or angry with the software.
Labor Burden and Profits: The Connection l BuildYourNumbers.com
If you’re struggling to understand or measure your labor burden and its effect on profit, let BuildYourNumbers.com help you with our job cost and accounting tutorials. Labor Burden & Profits: Connect the Dots! Got employees? If so… What’s it cost to put them “into the field”? What should you be charging for their time? Should …