Lets talk Quickbooks - Contractor Talk - Professional Construction and Remodeling Forum

FairGC · 08-15-2008, 10:34 PM

Okay, I have read how everyone recommends Quickbooks as THE accounting software to use......but I want to know what I would be missing if I choose Quickbooks over one of those more expensive systems like Master Builder, FoundationSoft, Construction Partner, etc?

Does Quickbooks do the same work, and if so, why do people buy those other systems?

I really have to make a decision on this, so any help would be FANTASTIC!!!

Thanks.

orson · 08-16-2008, 10:49 AM

I've been struggling along with QB since the beginning of the year. A more fair statement would be that my wife is doing most of the struggling. Every time we sit down to work on it together we end up ready to strangle each other.

Since I have very little accounting knowledge and she has very little construction knowledge we struggle with terminology, semantics, definitions and a general inability to communicate ideas.

I'm not familiar with the software you mentioned above, however, any system that would bridge the gap and allow one to enter data in a construction based format and automaticaly convert that into accounting data and lingo would be a wonderful thing IMO. Perhaps the above systems do this?

cadanywhere · 08-16-2008, 10:53 AM

Quote:

Originally Posted by orson

I've been struggling along with QB since the beginning of the year. A more fair statement would be that my wife is doing most of the struggling. Every time we sit down to work on it together we end up ready to strangle each other.

Since I have very little accounting knowledge and she has very little construction knowledge we struggle with terminology, semantics, definitions and a general inability to communicate ideas.

I'm not familiar with the software you mentioned above, however, any system that would bridge the gap and allow one to enter data in a construction based format and automaticaly convert that into accounting data and lingo would be a wonderful thing IMO. Perhaps the above systems do this?

What version of Quickbooks are you using?

I have been recommended Quickbooks, however, over here the most used accountancy package that is used is called Sage.

mdshunk · 08-16-2008, 01:20 PM

I use Peachtree (Sage) for years and years, but recently switched to Quickbooks. I'd definitely say that Quickbooks is much easier.

**Double-A** · 08-16-2008, 02:33 PM

Quote:

Originally Posted by FairGC

Okay, I have read how everyone recommends Quickbooks as THE accounting software to use......but I want to know what I would be missing if I choose Quickbooks over one of those more expensive systems like Master Builder, FoundationSoft, Construction Partner, etc?

Does Quickbooks do the same work, and if so, why do people buy those other systems?

I really have to make a decision on this, so any help would be FANTASTIC!!!

Thanks.

Quickbooks has a limited number of "items" (names, transactions, lists, etc.) that can be added to it. After that, you have to move to one of the bigger packages. I can't recall the top number, but its a hard cap. Once you get there, you have problems. That number has gone up and is much higher now than in the past. Its in the hundreds of thousands and there are some techniques you can use to slow your climb to that number without much problem.

What will you miss? Well, depending on what modules you buy, a full and true estimating package, a take-off to estimate package just to name two... a dispatching system... Masterbuilder (is it still called that?) has several features for the true builder that many of the other packages don't have.

QB is fine for smaller companies, but once you hit a certain number, or have a certain business model, you need to move to one of the more expensive packages.

Tell us about your business and one of the folks that do this sort of consulting or a living might be able to recommend something to you.

RCPainting · 08-16-2008, 02:35 PM

Quote:

Originally Posted by orson

I've been struggling along with QB since the beginning of the year. A more fair statement would be that my wife is doing most of the struggling. Every time we sit down to work on it together we end up ready to strangle each other.

Since I have very little accounting knowledge and she has very little construction knowledge we struggle with terminology, semantics, definitions and a general inability to communicate ideas.

I'm not familiar with the software you mentioned above, however, any system that would bridge the gap and allow one to enter data in a construction based format and automaticaly convert that into accounting data and lingo would be a wonderful thing IMO. Perhaps the above systems do this?

Not to derail this thread, but I struggled with the terminology as well, I found a program run by local tech college, my acct is a trainer. He helped me set up QB Pro (important that you set up right from start) and whenever I have a question, he is there. I take my laptop in and meet with him about every qtr to review. It has made a huge difference in my frustration level!

MinConst · 08-16-2008, 02:37 PM

I am not privy on Master Builder, FoundationSoft, Construction Partner but have use QB since it was DOS based. I also have used Peach tree prior to that and it was a horrific experience. QB is simple accounting. I can't say I understand the difference in the trades over selling clothing. Except in the chart of accounts. Terminology is something you would put in yourself. I'm sure there are parts of the above mentioned products geared more toward the larger builders but for the average Joe or Josephine, and a few other workers QB has been sufficient.

**Double-A** · 08-16-2008, 03:12 PM

Quote:

Originally Posted by orson

I've been struggling along with QB since the beginning of the year. A more fair statement would be that my wife is doing most of the struggling. Every time we sit down to work on it together we end up ready to strangle each other.

Since I have very little accounting knowledge and she has very little construction knowledge we struggle with terminology, semantics, definitions and a general inability to communicate ideas.

I'm not familiar with the software you mentioned above, however, any system that would bridge the gap and allow one to enter data in a construction based format and automaticaly convert that into accounting data and lingo would be a wonderful thing IMO. Perhaps the above systems do this?

Well, yes and no, but the lingo they speak is the lingo of much bigger companies than most of us run here.

Two suggestions on QB Orson. First of all, get your wife with a pro-advisor that has construction/remodeling experience. We have one or two lurking about the forum from time to time.

Second, get Ellen Rohr's book Where Did the Money Go?
Easy Accounting Basics for the Business Owner Who Hates Numbers.

This book will explain some of the terms used in accounting so you can tell your wife what the heck you're talking about. Its an easy read and geared toward the blue collar folks and not the white collar button-downs that do taxes for a living. And she's funny.

The last thing you need to do is make a wish list of things you really want to track in your business. This should be the bible of how information is entered in your QBs. If you don't put the data in there and tag it properly, you can't go back and recover it without a tremendous amount of work.

The main reason I keep recommending QBs is that is a friendly system that allows you to track your business and run reports so you can actually measure your progress. And if you don't measure, you don't know. And not knowing is the surest way to get your butt in a crack fast.

So quit screwing up your relationship with your wife and go get you both some education so you can speak civilly to each other about QBs and your business. Otherwise, your next project just might be a "man cave" aka dog house for yourself in the back yard.

asnider · 08-16-2008, 11:29 PM

Here are a few reasons to buy from the custom construction accounting vendors:

Track retainage, track subcontracts, integrated job costing, job specific reporting, AIA billing, certified payroll reporting (prevailing wages).

There are more reasons, but that's a good start!

PMI · 08-18-2008, 03:32 PM

You did not say how big you are as well as what your real challenges are. Keep in mind that the best things about QuickBooks is the accounting side which is very important especially when you are larger and the process is more complex. In today's tight economy I believe you should ensure the front end of your business is much more buttoned up and then worry about the back office. QuickBooks doesn't really do well when it comes to working for contractors' daily activities, especially small mobile firms. Your focus should first be your customers, since without them, you will not have any back office problems. Stay focused on your estimating, your schedule, updating the customers, keeping your jobs organized and then collections, We do this now and then export information into QuickBooks, If your big, then this just helps organize your accounting. If your small, your accountant will be able to easily do this with a few different register reports. In summary, you may need two products to accomplish the optimum environment, one for the front of your business and then interfacing for the back end of your business. If you are very small, you may just want to focus on the front end, and then let the accountant handle the back-end. There is no right or wrong, but the size of your business and budget may force you to think along these lines. By the way, we do use QuickBooks on the backend ourselves. Good luck. Phil

orson · 08-18-2008, 05:10 PM

Quote:

Originally Posted by Double-A

So quit screwing up your relationship with your wife and go get you both some education so you can speak civilly to each other about QBs and your business. Otherwise, your next project just might be a "man cave" aka dog house for yourself in the back yard.

You never fail to offer sage advice, but that's some of the best yet as far as I'm concerned!

Sarah9910 · 08-21-2008, 11:52 AM

I replied in your other thread. Good luck what ever you do.

Sarah