This post about QuickBooks items is based on our more extensive training video of the same title in our Construction Accounting & Management Program (CAMP). Why are QuickBooks Items Especially Important for Construction Companies? QuickBooks Items let you track, and report on, the financial detail underlying what’s REALLY going on within the financial side of …
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.
None of the builders or remodelers I’m acquainted with want to learn two or three months after a job is completed they lost money on the job, or only made a gross profit of 2%.
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 I of this “Tale of 4 Companies: A Job-Cost & Gross Profit Percentage Drama” before jumping into the following “Part II”…) Paul’s Approach to …
Can you really affect your gross profit by setting up a job-costing system? Is it worth the time, energy and effort involved to measure, track, and modify? Let’s visit with the owners of several hypothetical companies – and then you can decide for yourself which owner’s shoes you’d prefer to step into… As background to …
