QuickBooks Desktop for Construction

Managing accounts for the construction industry can be considered an especially arduous task. With an incredible variety of tasks, expenses, project phases, and different budgets for each phase. In this regard, accounting for the industry is more like project management and needs a more efficient solution to manage properly. However, QuickBooks lets you handle all such tasks in the most efficient way possible.

Wondering how you can do all this with just QuickBooks? Well, that is what this training course is all about! With the QuickBooks Desktop Training for Construction, you can easily learn how to apply each element and feature of the program to make it suitable for accounts management in construction. So, let’s go ahead and see the topics that are included in this training course!

Mastering QuickBooks Desktop Training for Construction

In order to help you master the methods of accounting for Construction through QuickBooks, this training course will put you through an easy but extensive 14-part lesson plan. With each topic addressing an integral step in mastering QuickBooks for Construction. The best part of this training course is that it allows you to earn all this without even needing to purchase the QuickBooks Premier Contractor edition! You can easily complete this course with your version of QuickBooks Desktop, regardless of whether it is Pro, Premier or Enterprise Solutions. So, let’s get started on understanding what the 14 topics will include.

The first topic involves just a basic introduction to the training course. You will find out in detail what to expect out of the course. Apart from this, you will also learn the features unique to the QuickBooks Contractor edition and how you can make use of those features to enhance your accounting game for construction companies and projects. In this regard, as an overview, the course will help you understand:

  • The different features and services that are specific and available only to the contractor version of QuickBooks. You will also learn how you can use these different features and services in the rest of the course and the remaining 13 lessons.
  • The process of creating and accessing the sample file for contractors.

 

Setup Issues & Fixes

Setting up your QuickBooks Contractor account to do all that you need it to do can be a complex task. But, don’t worry – this course will introduce everything about setting up, any issues in the process and how to resolve them. Some basic setup features that you will learn include:

  • Setting up a new company and its company file in QuickBooks
  • Learning to customize the business set up in a step-by-step manner
  • Setting up the business start date
  • Exploring Item List for contractors
  • Entering opening balances for all new and old accounts
  • Setting up other accounts related tasks, such as accounts payables, accounts receivables, bank accounts, equities, and loans, among many other tasks.
  • Setting up employee payroll
  • Entering transaction history
  • Editing opening balances and business start dates.

 

Items

Managing inventory is also a crucial part of the way you manage construction projects and businesses. So, you will learn the process of managing such items in this topic. As such, this course will include:

  • Compare expenses with inventory purchases to keep track of transactions and inventory
  • Explore any limitations associated with the inventory items
  • Setting up items accordingly to enable them to appear on “Estimate vs. Actuals” reports
  • Setting up items according to job costs and items for sale
  • Managing each construction phase efficiently by grouping inventory according to relevant sub-groups for each phase
  • Managing sales and purchase forms by grouping items accordingly to make them appear on such forms accordingly
  • Learning best practices that can help you categorize items for all construction projects as per phases

 

Estimating

Budgeting and estimating are crucial aspects of any construction project, especially since it is easy to go over budget and these help you stay within that budget. So, easily meet all budgeting and estimating requirements of your construction projects by learning how to do the following tasks:

  • Estimating for fixed-price construction jobs and projects
  • Generating invoices for estimates and expenses
  • Entering change orders for budget estimates
  • Identifying and implementing time-saving tips and shortcuts for making estimates
  • Using budget estimates and invoices for recording draws on a specific job or project

 

Sales Transactions, Tricks, & Workarounds

Managing sales and sales transactions also make a crucial part of managing any construction project, especially when it comes to recording transactions and managing customers. So, in this course, you will learn the methods of:

  • Optimizing lists of customers for reporting
  • Creating best job reports by setting up different jobs
  • Charging customers based on the employee billing rate
  • Recording invoices using third-party invoicing systems
  • Creating invoices through batch invoicing
  • Identifying and correcting errors in missing invoices and Accounts Receivables Aging
  • Managing multiple “Accounts Receivables” accounts
  • Recording deposits, advance payments, and down payments from customers
  • Identifying best practices for recording retainages on contracts
  • Creating “Bad Debts” to write off unpaid and overdue invoices
  • Recording excess or insufficient payments from customers
  • Transferring credits among customers

 

Purchase Transactions, Tricks, & Workarounds

Tricks and tips when recording and managing purchase transactions are as crucial as managing sales transactions, So, these tips that will be taught in this course will help you manage your purchase transactions efficiently:

  • Identifying best methods for recording tasks in progress
  • Running the best quality reports for all tasks and projects in progress
  • Recording all advance payments and deposits made to vendors
  • Creating reports to track such advance payments and deposits to vendors
  • Generating 1099s and 1096s for all contractors
  • Tracking vendor liability certificates using built-in features
  • Recording purchases made with the personal funds of owners or employees
  • Entering details regarding vendor refunds and applying open customer balances to open vendors
  • Manage cheques written in previous accounting periods
  • Tracking committed costs using bills
  • Making purchases more efficient through automated purchases

 

Payroll Transactions, Tricks, & Workarounds

You can also handle multiple payroll-related activities through the program if you know the following features. So, in this course, learn how to:

  • Apply additional costs to employee payroll, including but not limited to benefits and tax expenses to projects
  • Determine employee salary against specific jobs rather than centralized payrolls
  • Enter payroll costs that employees and company contribute to altogether
  • Create, implement, and track compensation practices and policies for workers
  • Set owner time as a cost

 

Advanced Reporting

Reporting is a crucial task for any organization, regardless of whether it is a construction firm or not. However, reporting needs of construction firms vary slightly as compared to other organizations. So, to become fluent in advanced reporting for construction firms, you will be made to learn these tasks:

  • Building report from raw data
  • Filtering reports for the relevant output
  • Dealing with issues regarding reporting
  • Advanced reporting tricks for the most comprehensive reports
  • Reporting shortcuts and scheduling facility for sharing report
  • Getting to know how reports are created in QuickBooks and how data is processed to create such comprehensive reports
  • Using built-in data for the most comprehensive reports on vendors, customers, and inventory
  • Collaborate with Excel features to make your QuickBooks reports more dynamic and of higher quality
  • Creating excel graphs and charts from QuickBooks
  • Combining inter-organizational reports with the help of Excel
  • Make use of the “QuickBooks Statement Writer” in order to generate high-quality and comprehensive report packages

 

Reports for Job Costing

Job costing primarily addresses how much a specific job or project is going to cost, inclusive of gross margin, payroll and bills. In terms of such job costing requirements, here is all that you can learn with the help of this course:

  • Using reports and reporting tools to calculate gross margin
  • Determine job profitability
  • Track any unpaid bills for specific previous jobs
  • Explore and create comprehensive reports solely for contractors
  • Create comprehensive payroll reports for all job contractors

 

Customize QuickBooks

Customization has always been a strength of QuickBooks, regardless of the product or the purpose. So, it is no wonder that this can be done for construction purposes as well. For this purpose, you can benefit from this course by learning to:

  • Specify preferences regarding usage and intended usage of QuickBooks features
  • Set all your most-used features and services as “Quick Access” icons for easy access
  • Regulate account numbers
  • Keep a record of all incomes and expenses with categories made on basis of Class
  • Run reports as categorized on Class

 

Advanced File Maintenance

Keeping all your files and data is crucial, especially when making use of systems that others can also access. Since the risk of corruption is high, individually protecting all files and ensuring advanced file maintenance is one of the most crucial requirements. That is why this course will teach you how to:

  • Schedule regular backups to keep a record of all company files and all data regarding jobs and projects
  • Learn shortcuts, tricks, and methods to make your QuickBooks file performs better and how to ensure that consistent improvements in file management are done
  • Repair any corrupted files or corrupted data in the QuickBooks system with the help of the “Verify/Rebuild” feature
  • Maintain and store all company data safely so that files can be easily moved from one device to the other without any data loss

 

Import and Export Data

Transferring and sharing data between files is a feature that is often used and required, especially when there are multiple files for a single project or multiple files under a single customer or vendor. In such cases, being able to export and import such data can be beneficial in terms of making the final report more comprehensive and factually correct. So, this course will teach you how to import and export such data between files as well. This will be done by teaching you the processes of:

  • Transferring crucial data within QuickBooks files and folders
  • Transferring crucial lists, such as lists of customers, employees, inventory, vendors, and accounts, among others
  • Transferring templates for forms for different purposes
  • Exporting and importing reports
  • Exporting and importing data and files from entirely other programs as well
  • Managing and customizing settings in applications connected to QuickBooks
  • Importing lists created through Excel
  • Entering data and entry items, such as new vendors, more than one piece of inventory, new customers, and accounts, in lists that contain the feature of “Add/Edit Multiple List Entries”
  • Comprehending year-end figures and procedures

 

Work with Your Accountant

Connecting with your accountant, bookkeeper, bank account and other such crucial third-party users is a crucial feature of the QuickBooks product. However, you need to know how to make the most out of such collaborations to ensure that you are getting the most benefits out of them. So, this course will teach you how to do that, and that will be done by teaching you the following tasks:

  • Get familiar with journal entries and how to create them in QuickBooks
  • Identify when you would need to make such journal entries and how you can benefit from them
  • Learn the general year-end requirements with regard to managing your finances and transactions to maintain the books properly
  • Share your company file with your accountant using the “Accountant’s Copy” feature
  • Review and accept changes suggested by the accountant
  • Receive, review and import “General Journal Entries” from an accountant to your QuickBooks file to improve reporting
  • Become privy to the most favored year-end closing journal entry according to accountants for an improved report
  • Get familiar with the “Condense Data” feature and how you can benefit from this feature in terms of your reporting
  • Find errors and modifications in previous year-end reports that may affect the credibility of this year’s data
  • Learn to identify and resolve complex reporting issues

 

Unique Transactions for Contractors

Lastly, you would also need to learn special features available to contractors to ensure that the program can be customized to your needs even more. In this manner, this topic in the course will help you get familiar with the many unique transactions that are available only to contractors. For grasping this topic completely, you will learn how to:

  • Monitor and record financial transactions for “Spec Homes”
  • Identify and learn how the various office procedures can help you in making your business operations even more efficient

In this manner, through the various topics addressed in the course, you can ensure that accounting and finance-related tasks are done properly and efficiently through QuickBooks. Even if you have to connect your QuickBooks to other applications or use it to evaluate Excel lists and reports, you can easily do so after completing this course. So, this can be an asset for contractors in managing their projects and they can stay updated on payments and finances.

What’s included: Additional Features with QuickBooks Desktop Training for Construction

While the course covers the 14 topics as elaborated above, there is much more included in the course. These additional features can help in increasing your satisfaction regarding the course and keep you ready for any challenges you face while using QuickBooks. These additional features include the prospect of getting free updates in the training courses with each update in the QuickBooks Desktop program and getting access to full HD videos for clear understanding.

These benefits and a few more have been explained below:

 

Free updates for life

All QuickBooks products go through regular updates to make them more convenient and accessible for users. And with each update, you may wonder that there are new changes that you are unfamiliar with. Well, you don’t need to worry since with each update to the QuickBooks Desktop program, your training course will get updated as well. This means that once you purchase the training course, you are also purchasing the gateway to getting premium training for all new QuickBooks features for the rest of your life. In this way, you can be assured that you can keep using the program regardless of any changes or updates to the features. This is why despite the cost of the training being a little high, it is a lifetime investment that will keep giving on throughout your life, making you more capable of handling all your tasks efficiently on QuickBooks.

 

Full high definition video

HD is the way to go for any video content and QuickBooks believes the same. This is why all training videos for the QuickBooks Desktop for Construction training course are provided to you in full high definition. This way, you will have clear access to each lesson and get a clear understanding of all that is being taught to you. Not only this – you can also change the dimensions of the video to suit your needs. If you want the full viewing experience, then you can have the videos playing in the full-screen mode. However, if you are not comfortable with full screen or want a split-screen view so that you can take notes on your word processor at the same time, then you can change it to a smaller format. Whichever format you choose, it is up to you at your convenience.

 

Access to all the courses: Anywhere. Anytime.

One of the greatest things about the course is that all courses are provided in the form of recorded, full HD videos that are available to you for a lifetime. Not only that but there is also no limit to how many times you can watch the lessons to grasp a topic properly. Regardless of where you are watching from, or which device you are accessing the videos from, you can repeat and replay any video as many times as you want as long as you have a stable internet connection. This means that if you want to go back to review a certain topic even after a year, you can easily do that and become an expert in no time! Regardless of when and where, the videos and lessons are at your disposal whenever you want.

 

Everything you need to know to master QuickBooks “A to Z”

QuickBooks is an incredibly extensive program that provides you with many benefits. And while it is incredibly efficient, it is also easy to get lost among the many menus and features, especially if you don’t know where to go. Due to this, this course is a blessing in letting you get familiar with every single thing about working with QuickBooks Desktop. As elaborated above, the 14 topics cover every aspect for which you may possibly need to use QuickBooks, especially for construction purposes. So, if you are a beginner this course can help you get familiar with all the basics you need to know to use QuickBooks properly. The lessons in this course can also act as basics to help you become more proficient in using QuickBooks for more high-profile and large-scale contracts, allowing you to not only become better in managing your accounts and finances but also in helping you develop as a professional as well.

Conclusion

Working with QuickBooks can be a slightly complex process, especially if you do not know how to navigate the various features. So, if you want to use QuickBooks Desktop for your construction business and manage all contractor accounts and tasks, this course can be the biggest asset for your business. By learning all the basics associated with managing construction activities, you can ensure that you are able to keep all your finances on track and manage your business in the most optimal manner. Furthermore, with the many additional features, you can be assured that you will never be left stranded on your journey to understanding all the features of the program. So, take the first steps towards becoming a qualified and efficient contractor and enroll for the QuickBooks Desktop for Construction at the earliest!