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.
Tag: Job cost reporting
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.
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 …
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 …
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 …
QuickBooks Online vs. Desktop – QuickBooks Pro, Premier, or Enterprise – Pricing & Job Cost Features
QuickBooks Online? Desktop QuickBooks Pro, Premier, or Enterprise Solutions? Pricing & Job Cost Features Which Version of QuickBooks Is Right For You? I see many opinions and questions from QuickBooks users in the forums about which version of QuickBooks their small or mid-sized companies should choose… After spending 25+ years working with job costing for …
Job Costing Increases Profits
What is Job Costing? Job costing, also known by some as job order costing, is an accounting method used to track the costs associated with a specific job or project. This method is typically used in industries where goods or services are produced based on a specific customer order, and each order or job has …
The Many Faces of Construction Job Costing
Income minus expenses equals gross profit. Your gross profit is the amount you use to run your company and create profits. Job-costing is how you can track the income and the costs you incur to perform each of your jobs. It’s how you get to see the gross profit you earn on each of your projects. Your perception of what you want to see from a job-costing system may be very different than another business owner’s concepts. Why? Because there is no single prescription that fits everyone’s needs.
It Just Doesn’t Make Sense!
“Why aren’t we making more money? We’re busier than ever, I’m working harder than ever, but things just aren’t coming together like they should!” If this story sounds or feels familiar, you may want to sit in on this meeting to pick up some ideas on how to create Estimate vs. Actual Reports… It Just …