Contractor Quickbooks
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Intuit QuickBooks 2011 Premier Contractor 413900 Create ‘Jobs by Vendor’ report: Organize your job costs by vendor, and see which vendors still need to be paid. Run ‘Cost to Complete Job’ report: Keep tabs on how much it will cost you to complete each job, and how your actual costs are comparing to your estimated costs. Analyze job profitability: Customized job cost reports allow you to see a job’s profitability on a detailed, task-by-tas… |
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QuickBooks Premier 2012 $227.99 New to QuickBooks? Find out why QuickBooks is the #1 best selling small business accounting software¹. Set up in minutes, easy to learn and use No accounting knowledge necessary Quickly import your data from a spreadsheet2 Step-by-step tutorials and industry-specific coaching tips show you how to create invoices, record expenses and more Try out sample files for you business type Special of… |
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QuickBooks Premier Industry Editions 2012 [Download] $204.99 New to QuickBooks? Find out why QuickBooks is the #1 best selling small business accounting software¹. Set up in minutes, easy to learn and use No accounting knowledge necessary Quickly import your data from a spreadsheet2 Step-by-step tutorials and industry-specific coaching tips show you how to create invoices, record expenses and more Try out sample files for you business type Special of… |
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QuickBooks Enhanced Payroll 2012 $179.99 Save time paying employees & taxesPay up to 3 employees and easily add more. If you have more than 3 employees, simply select “4 or more” employees when activating your software (additional annual fee applies).Paychecks in 3 easy steps: Simply enter employees’ hours in QuickBooks and Enhanced Payroll automatically calculates earnings, payroll taxes & deductions for you Review and approve your pa… |
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DYMO LABELWRITER 450 Label Printer,(1752264), USB, PC/MAC, Printer and Software, 51 Labels Per Minute, black/silver. $75.00 Dymo Corporation LabelWriter 450 Label Printer 1752264 Thermal & Label Printers… |
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QuickBooks 2011 For Dummies (For Dummies (Computer/Tech)) $13.35 Bestselling author Stephen Nelson returns with big help for small businessesOffering expert advice, bestselling author Stephen Nelson returns with updated coverage of the latest revisions and enhancements to the leading small business accounting software package: QuickBooks. After a quick review of bookkeeping basics, youâll discover how QuickBooks can help you build the perfect budget, proce… |
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Contractor’s Guide to QuickBooks Pro 2010 $35.91 According to a national survey, more construction contractors use QuickBooks Pro and QuickBooks than all other accounting programs combined. And for good reason. QuickBooks Pro excels at all the routine paperwork in a construction office: writing checks, keeping track of your bank balance, sending out invoices and statements, creating up-to-the minute profit and loss statements for the month, year… |
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National Construction Estimato, 2011 (National Construction Estimator) (National Construction Estimator (W/CD)) $43.07 This 59th edition is Craftsman’s most popular reference for pricing construction. You’ll find labor and material prices every item needed for constructing a residential, commercial, or industrial cost estimate.Material Prices: Current costs for every commonly used construction material and thousands of specialty items, based on typical selling prices at building material dealers.Labor Costs: Find … |
How to Use QuickBooks for Job Costing: Working with Estimates
Many businesses think estimating is useful to only construction companies. But any company that produces estimates, quotes, bids, and proposals can use QuickBooks to get a handle on their job costing. The accuracy of your estimating process can make or break your project success. It is critical because if your estimate is too high you might lose the job, while estimates that are too low can reduce your profits or even make you lose money on a job.
However, you can reduce your risk and increase profits by using QuickBooks for estimating. Even if you don’t provide your clients with estimates, you need to enter them in order to get the most out of the QuickBooks job costing reports. These reports, especially the Job Estimates vs. Actuals reports, are the key to making sure your existing job budgets are on track. They are also important when evaluating the accuracy of your estimates so you can make adjustments for future projects. They are also required if you want to do progress invoicing.
This is the second of a four-part series about how to use QuickBooks for job costing. Intuit, the creators of QuickBooks, has also asked me to present a series of free Small Business Town Hall covering the same topics every Tuesday this month. This is your chance to get your job costing questions answered live. You can get more information here:
http://www.theqbspecialists.com/quickbooks_training.php
Setting Up Estimates
1. Turn on the Estimate function at Preferences > Jobs & Estimates.
2. Create service items that match your project phases at Lists > Item List. You might also want to create sub-categories for materials and labor for tracking purposes, and use groups (see below) so they don’t show up separately on your estimates and invoices.
3. Create group items for items that you often sell together, this speeds up data entry and also allows you to hide details on estimates and invoices. For example, you could make an “Cabinets” group by grouping the items for all the materials and labor used. Each item in the Cabiets group has its own cost and selling price. When you choose an item for your estimate or invoice, you simply have to enter a quantity to get the total price for cabinets. You can also choose to not include the detail on your estiates and invoices by not checking the “Print items in group” box.
4. Customize your estimates by clicking on the Customize button at the top of the Estimate form, then selecting Additional Customization.
5. You can create multiple estimate forms for different needs and manage them at Lists > Templates.
6. You can also memorize completed estimates that you use that you use frequently by going to Edit > Memorize Estimate. You can also duplicate estimates at Edit > Duplicate Invoice.
7. You can download free customized estimate templates from Intuit at: http://community.intuit.com/library/forms.
Entering Data
1. In order to get detailed estimate vs. actual job costing reports, enter both estimated costs and revenue.
2. You can either enter a $ or % markup to determine revenue, or you can enter revenue to determine the markup.
3. If you want one line item for all revenue, enter $0 in the revenue column and add an additional item line for the revenue with no cost entered.
Change Orders
1. A change order function is built into the contractors editions of QuickBooks.
2. If you don’t have the contractors edition, you can create new estimates for change orders, but this requires separate invoices.
3. A better option is to create estimate & change order subtotal items and add change order items as separate line items on the original estimate.
Linking Transactions
1. You can create invoices directly from the estimate by clicking on the Create Invoice button. You can invoice for the entire project or select progress invoicing. For progress invoicing, first turn on the function at Preferences > Jobs & Estimates. Then QuickBooks will give you the option of invoicing either for a fixed percentage of the entire estimate, or for different percentages of each line item on the estimate.
2. You can also create purchase orders directly from the estimate. First turn on the function at Preferences > Items & Inventory. Once you do, the purchase order button will be hiding under the Create Invoice button (click the down arrow to the right of it to see your options)
3. You can also create sales orders directly from the estimate. First turn on the function at Preferences > Sales & Customers. Once you do, the purchase order button will be hiding under the Create Invoice button (click the down arrow to the right of it to see your options)
About the Author
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Ruth Perryman is the president of The QB Specialists. She is a Certified Advanced Quickbooks ProAdvisor and an Intuit Solutions Provider, with over 19 years of industry experience including 5 years as a Chief Financial Officer. She has been working with Quickbooks since 1996, and specializes in QuickBooks Enterprise and POS installations and troubleshooting. She also provides virtual controller and CFO services.
If you need additional assistance, please call our QuickBooks technical support line at 888-351-5285. The first ten minutes are absolutely free! Plus receive additional free minutes with every purchase – visit our website for more details.
In Quickbooks, Contractor’s Edition, does anyone know how to set up the employee timesheets for 2-weeks?
I need them to be set up in 2 -week intervals. Also, our pay periods run Wednesday-Tuesday, is there anyway to show this? Or do I have to just use it as is? Thanks!
You can change the week starting date by adjusting a preference. Go to Edit > Preferences > Time & Expenses > Company preferences and select Wednesday as the first day of the work week.
Unfortunately, there is no way to make time sheets run for 2 weeks at a time.
Work Order Express – Export Work Orders to QuickBooks
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