Remodeling companies are service-oriented, and the unique nature of the services you perform put you constantly at risk for time and cost over-runs and thin gross profit margins.
To balance those risks, you need accurate week-to-week job-cost information so that you can:
- Track each job’s progress.
- Monitor financial results.
- Keep an eye on changes that impact your profit margin.
- Be in a position to make informed decisions as a job progresses.
But probably the most important benefit of accurate job-cost information is the ability to shape your own financial future. How?
When you are intimately familiar with your job cost numbers, you’ll be able to create more accurate estimates and make smarter pricing decisions.
That’s the real way to make a permanent and lasting change in your bottom line!
At a minimum, you need your accounting system to:
- Assign materials, trade contractor, and other production costs to jobs.
- Assign payroll and payroll tax cost for direct labor employees to individual jobs.
- Track Estimate vs. Actual results (by job stage) for nearly all of your jobs.
- Track (and collect on) Change Orders
- Perform a variety of basic accounting functions within an integrated accounting system.
- Create a variety of valuable financial reports.
You may need more advanced features such as:
- Purchase Orders.
- Budgeting.
- Payroll preparation and related tax filings.
- Fixed assets tracking.
- Customizing and printing Forms.
- Using QuickBooks to assign fully burdened labor cost to jobs.
- Calculating and making Work in Process and/or Percentage of Completion entries.
Additionally you are probably looking for a system that:
- Can be customized to match the specific way that you do business.
- Can be managed in-house – typically by clerical level employees.
- Is reasonably priced, with low or no maintenance fees.
Fortunately, QuickBooks is an ideal match for most remodeling companies IF lists are properly structured and IF bookkeeping staff is trained in various aspects of construction and remodeling accounting and reporting.
Lack of knowledge about crucial accounting and business topics causes errors and frustration, and can cost a business literally hundreds of thousands of dollars in lost revenue and excess cost. But we can help you address these issues through focused training and, if necessary, by providing additional assistance from qualified accountants and Certified QuickBooks Pro Advisors.
With our training services, you'll learn essential basics as well as advanced QuickBooks techniques. We bring thousands of hours of hands-on QuickBooks and construction accounting experience to the table.
We will help you discover how to build your QuickBooks system to provide the information that you need to make more informed, and more profitable, operating, estimating, and pricing decisions for your remodeling company.
We offer one-to-one support and consulting services, as well as industry-specific QuickBooks online training seminars, to clients throughout the U.S.
Trade Contractors & Material Sales
