Contractors using Quickbooks must do this every week
Proper construction accounting is all about the details. The answers you need to operate and grow your company are in reports. Everything starts with cash because “cash is fact, profit is an opinion.” All transactions in the bank account of your Quickbooks construction accounting system must be assigned to the proper accounts:
- Job Deposits
- Cost of Goods Sold (Direct and Indirect Costs including Labor, Material, Other and Subcontractors)
- Other costs including permits, plans, bills from suppliers, and purchases on your personal credit cards
Many small to medium-sized contractors fail to keep up with these basic tasks each week. The result is that job costing isn’t accurate or timely, and the business doesn’t make as much money as it should. If you’d like a free 1-hour review of your books, give us a call or text us on (843)-972-9284. We’re based in Mount Pleasant, SC near Charleston, SC, but work with contractors and other small businesses across the US.