Job Costing in Quickbooks for Construction Companies

[@BeyondBooksSolutions]

📖 *Check out my freebies here:* beyondbookssolutions.com/free-resources/ 💌 Free Weekly Construction Accounting Insight: beyondbookssolutions.com/ 🍿 Don't miss out on our next videos, including guides on Quickbooks for construction, financial statements, and common bookkeeping mistakes.

[@nborisov8]

great video - covered the big parts i was looking for.

[@BeyondBooksSolutions]

So happy to hear this!

[@terrillchristians]

well done- thank you very helpful

[@BeyondBooksSolutions]

Thank you, glad it helped!

[@PaulChoate-s4v]

So this is a video about what QBO CAN do not HOW to do it.

[@BeyondBooksSolutions]

Like I mention in the video, every construction business is different in terms of reporting, the type of estimation, the type of accounting, the types of projects. So the set up and job costing is going to be very different. But I did just film the basics tutorial that will be helpful for every construction business. So stay tuned for that to go live this week.

[@PaulChoate-s4v]

@@BeyondBooksSolutionsI look forward to it

[@malachismoneytalks8026]

Can income for a project be allocated to the project AFTER the invoice is already sent to the customer? It seems like I have to create the project first and then send in the invoice.

[@BeyondBooksSolutions]

Yes you can change the project name on the invoice, but you need to be careful not to sitar the chain of transactions , if any.

[@RebeccaTiffany1]

I didn’t see a link to the video on recording expenses for job costing. What I’m stuck on is using classifications vs chart of accounts for each trade. We build apartments and I need each trade tracked, foundation, framing, plumbing, electrical, windows, doors etc

[@BeyondBooksSolutions]

I am not sure what you mean by classifications. It would all depend what kind of reporting you would need out of the system. You can create multiple accounts of map the cost codes aka Products and services to them and do it that way.

[@RebeccaTiffany1]

@@BeyondBooksSolutions I mean classes vs chart of accounts. My budget has about 100 lines all with different trades. One person told me to use classes for each trade and another person told me to do a chart of account for each. We build houses & apartments and flip and manage our rental properties but we opened a new QB that is just for the construction side now, I created the project and now just not sure if to put each trade into classes or chart of accounts

[@BeyondBooksSolutions]

@@RebeccaTiffany1 I do not advise to use classes. You can either create multiple accounts or map the cost codes aka Products and services to your chart of accounts and use them.

[@RebeccaTiffany1]

@@BeyondBooksSolutions thanks for your response, we only do work for ourselves so we don’t have clients would you still recommend to add products and services or add them each as chart of accounts instead?

[@BeyondBooksSolutions]

@@RebeccaTiffany1 It depends on what type of QBO you are using and what kind of reports you need to see. If you plan to create estimates in QBO you must have products and services. If you use QBO Plus then to get Budget vs actual, you would have to have a budget as well and that is achievable only by creating a bunch of accounts in COA. I have a QBO set up service where I talk to you about the details of your business, then perform the set u for you and teach you how to use that set up. Reach out to me if you could use such help through my website contact page. I feel like this could be very beneficial for you to untangle that part of QBO to use for your construction projects.

[@yankeegirl-cv6cz]

what version of QBO are you using in this specific video?

[@BeyondBooksSolutions]

Different ones, but for construction industry I do not advice to go lower then QBO Plus. One of the next videos I will have will go more into the detail of the subscription levels.

[@yankeegirl-cv6cz]

Thank you! I just had them upgrade to the plus. @@BeyondBooksSolutions

[@vdpeer]

@@BeyondBooksSolutions Well yeah, since only Plus and Advances have the Project capability open.

[@BeyondBooksSolutions]

Exactly

[@hforsuccess]

You're really pretty 😅

[@BeyondBooksSolutions]

Nice of you

[@vdpeer]

@@BeyondBooksSolutions He's horny.