What Your Profit and Loss Is Really Telling You

What Your Profit and Loss Is Really Telling You

Who doesn’t like to look at profit?! But I find many have misconceptions about what the Profit & Loss report (or Income Statement) can/should do for them. This is usually due to a lack of knowledge when it comes to accounting. But whether you are the business owner or the bookkeeper you should understand at least a little bit about accounting and your financial reports. So here are some basics that will help you both review your jobs or projects as well as your business.

Read more

Reports to Monitor Job Costs

Reports to Monitor Job Costs

You may be in the middle of your mad rush or just extremely busy right now. Either way, you have jobs in progress or already completed so it’s worth knowing just what job costing data you can pull from QuickBooks. Here are a few job cost reports to help you monitor your progress and profitability – perhaps some you didn’t know existed!

Read more

Margin vs. Markup

Margin vs. Markup

When reviewing the job cost reports in QuickBooks and turning on the %, it’s important to know just what percentage you see in the report. Where this really jumps out is comparing the P & L for a particular job to the Job Profitability Detail report. You’ve probably noticed these percentages are not the same

Read more

Tracking Vehicle and Equipment Costs

Tracking Vehicle and Equipment Costs

If you’re a landscaper or some other type of contractor, one of the important factors in estimating costs is recouping equipment & vehicle costs. There are 2 parts to equipment costs for jobs – what you need to cover for the cost of ownership for this piece of equipment (or vehicle or trailer) and how much it cost to use it on the job. Today let’s look at a way that might be useful in tracking the actual costs of you have a better idea in the future how to estimate.

Read more

4 Ways to Get Your Estimates Entered Quickly in QuickBooks

4 Ways to Get Your Estimates Entered Quickly in QuickBooks

For those who job or project cost, it all starts with the estimate. When the estimate is simple, then it’s often easy to create in QuickBooks. But for many of you, you most likely have many of the same types of estimates (such as seasonal maintenance jobs) or have more involved estimates such as construction, landscape design/build projects, etc. Here are 4 ways to get your estimates entered faster.

Read more

Working with Customer Deposits (Or Prepayments)

Working with Customer Deposits (Or Prepayments)

Do you take payment up front from customers when starting a job? Whether you’re in the construction industry, landscaping, trades or some other type of business, deposits up front help cash flow and enable you to pay employees and purchase materials for the job. While there are different ways to handle this scenario, not all of them are correct from an accounting perspective. The results can be misleading information or confusion for the bookkeeper or customer. Here’s the method I recommend for handling prepayments in QuickBooks.

Read more

New and Improved Intuit Payroll Products

New and Improved Intuit Payroll Products

Have you looked at your payroll options recently? Although changing your payroll option can be a pain to change, it is worth evaluating from time to time to make sure you’re getting the payroll option best suited to your business needs. And since Intuit recently released some new offerings late 2019, this might be the perfect time to start evaluating!

Read more

QuickBooks Desktop vs. QuickBooks Online

QuickBooks Desktop vs. QuickBooks Online

If you’re in a desktop version of QuickBooks (Pro/Premier/Enterprise) you may be wondering if it’s time to move to QuickBooks Online (QBO) so you have remote access and because some 3rd party products are saying Desktop QuickBooks (QBDT) is going away or work only with QBO. With the new products rolling out soon, I thought this would be good to discuss pros/cons – and my opinion ;-)

Read more