This workshop has been thoughtfully prepared and recorded – and you can access it immediately. Upon purchase, you’ll receive a link to download a pdf document that gives you immediate access to both the online recording and handouts.
Job Allowances: When Your Customer’s Choices
Become Your Bookkeeping & Reporting Responsibility
Approximately 44 minutes:
- Job Allowances: What are they – and why are they used?
- Allowances: empowering the customer to make their own choices
- Examples of allowances
- 3 primary reasons that builders utilize allowances
- Accounting considerations regarding job allowances
- Vendor-builder-customer contract arrangements (examples)
- The sensitive nature of allowances
- Complexities of allowances create more accounting and reporting work
- Special items and jobs for job allowances?
- Items you’ll need to add
- Separate job for allowances?
- Creating an Estimate using allowances
- Converting the Estimate into a Purchase Order
- Tracking, recognizing, and invoicing for over and under-use of allowances
- Reporting results
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Covering topics like:
Job-Costing, Construction Accounting, and Profit-Building