QuickBooks for Contractors

by Craig M Kershaw, Debra L Hartmann (Editor)

Overview

QuickBooks for Contractors is a must have reference tool for construction professionals who want to get the most out of QuickBooks. Beyond the basic manuals and how to guides, this book answers “How do I get QuickBooks to …?”

This unique guidebook presents numerous workarounds and examples of practical applications designed to increase user skill level. Improve the quality of accounting information your company depends on for financial decision making and increasing profits!

Some of the topics covered include:

• Review of functionality available for contractors
• Generating detailed estimate versus actual job cost reports
• Job costing all elements of payroll – wages, taxes, and workers comp
• Getting around payroll taxes being charged to only one expense account
• Progress and retention billing
• Multi-state payrolls and charging jobs for worker’s comp premium costs with different rates for each class of work and state
• Tracking and job costing equipment
• How to use vendor bills to record journal entries at the item code level
• Using the inventory module to track materials and charge jobs for usage
• Tracking subcontractor insurance expirations
• Overview of percentage completion accounting with formulas and sample journal entries

Get QuickBooks to deliver the right information you need to run a successful, profitable construction company with this first book in the series of QuickBooks  How  to  Guides  for Professionals.

                                                                               ***

The author, Craig Kershaw, CPA, MBA, is a construction industry CFO and Controller with years of experience using accounting systems. He is the managing partner of The CFO Source, a consulting firm that provides senior level financial expertise to small and medium size businesses. A QuickBooks Pro Advisor, the author developed the book as a training tool for construction clients. The author presents continuing education courses on QuickBooks to members of the Maryland Association of CPA’s.

Product Details

ISBN-13:	9780997738810
Publisher:	The CFO Source, LLC
Publication date:	10/06/2016
Series:	QuickBooks How to Guides for Professionals
Sold by:	Barnes & Noble
Format:	eBook
Pages:	130
Sales rank:	523,917
File size:	17 MB
Note:	This product may take a few minutes to download.

Table of Contents

Chapter One - Overview of Functionality What Can QuickBooks Do for the Contractor? Profit and Loss Statement Considerations Balance Sheet Considerations Determining the Level of Detail to Track Chapter Two - Setting Up Jobs in QuickBooks Chapter Three - Customizing Item Codes Item Code Types Setting Up Item Codes Set-Up of a Service Item Code Additional Information on Item Codes Chapter Four - Creating and Using Estimates Showing Multiple Lines for Revenue Showing Single Line for Revenue Chapter Five - Vendor/Subcontractor Transactions Recording Vendor Bills to Jobs Recording Vendor Refunds Tracking Subcontractor Insurance Expiration Dates Chapter Six - Using QuickBooks Payroll for Job Costing Setting Preferences for Job Cost Payroll and Workers' Comp Using The Weekly Timesheet to Track Hours and Pay By Job Workers' Compensation Costing and Management Modifying the Workers' Comp Payroll Item Code Setting Up Workers' Comp Codes Setting up the Experience Modification Rate Setting Default Workers' Comp Codes for Employees Workers' Compensation Reports Generating Certified Payroll Reports Using Company Contribution Payroll Item Codes to Charge Non-Payroll Expenses to Jobs Dealing With the Problem of Payroll Item Codes That Only Post to One Account Chapter Seven - Billing for Contracts Billing for Prepayments/Deposits - Two Approaches Approach One - Posting the Deposit to Accounts Receivable with a Credit Memo Accounting Comment on this Approach Approach Two - Posting the Deposit to a Current Liability Account Progress Billing Time Expenses Mileage Items Generating a Time and Material Invoice Alternative Approach to Time and Material Billing Retention Billing Chapter Eight - Equipment and Vehicle Costing Set-Up Allocating Costs to Jobs Chapter Nine - Inventory Costing Setting Up and Using Inventory Making Inventory Adjustments Chapter Ten - Percentage Completion Accounting Chapter Eleven - Functionality for Government Contractors Costs Aggregation Approaches Account Types Accounts&Sub Accounts Class Codes Cost Allocation Approaches Chapter Twelve - Reports Reports to Review for Data Integrity Expenses Not Assigned to Jobs Unbilled Costs by Job Job Profitability Reports Summary Profitability Reporting Individual Job Profitability Reports Profit and Loss by Job Job Profitability Detail Job Estimates vs. Actuals Detail Modifying and Memorizing Reports The Expand/Collapse Function Customizing Reports Memorizing (and Retrieving) Reports Appendices Appendix A Appendix B Appendix C