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 informfation 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.
- 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 (or Intuit Enterprise Solutions) 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 these 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. We can help you address the typical concerns faced by trade contractors through focused training and, if necessary, by providing additional assistance from qualified accountants and Certified QuickBooks Pro Advisors.
We can help you address the typical concerns faced by trade contractors through focused training and, if necessary, by providing additional assistance from qualified accountants and Certified QuickBooks Pro Advisors.
With our training services and accounting support products, you can acquire essential basics as well as advanced QuickBooks techniques applicable to remodeling industry activities. We bring thousands of hours of hands-on QuickBooks and construction accounting experience to the table.
We will help you customize your QuickBooks system so you can quickly access the information you need to see – so that you can make more informed, and more profitable, operating, estimating, and pricing decisions.
From: Greg Zimmerman of Zimmerman Remodeling
Greg Zimmerman of Zimmerman Remodeling says that Diane Gilson “has helped us immensely”. He found that her in-depth knowledge of QuickBooks, extensive accounting qualifications, and expertise in the construction industry are a unique combination.
Diane converted his accounting system from Peachtree to QuickBooks and customized reports so that he could see both job-cost and company-wide management results. She helped his employees create internal procedures for entering data, checklists so they could correct any errors, and assisted with solving issues as they occurred.
This one-to-one coaching and consulting support – combined with her online training courses – also helped him to gain greater control over his labor costs…
Info Plus Accounting offers one-to-one support and consulting services, as well as industry-specific QuickBooks online training seminars, to clients throughout the U.S.