Quickbooks Help

SIDrywall

I am looking for some help with Quickbooks. I use the 2005 Contractor edition. I am wondering what the best way to track job profits and losses are. I tried using the CLASS column when making a check but when I look up reports it puts my information into that job and I cannot see it in the correct report. I am a smaller drywall company and would like to utilize QB to its best abilities.

leadarrows

http://forums.quickbooksusers.com/

Sometimes I can help with QB....this isn't one of those times.... however you can get some help at the site above.

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I started out with nothing, and I still have most of it.

casey344

Let me start this with, "I'm a self-taught Quickbooks contractor". This is what works for me.

Go to Reports / Company and Financial / Profit and Loss by Job

This will bring up a report for year to date ... click on Modify Report in the top left corner, then click on the Filters tab across the top. In the Choose Filter menu select "Name" and enter your job/customer name. If you have billed your time and materials expenses to this job/customer it will list it all here.

Depending on how your accounting is setup you may have to click Modify Report again and under the Display tab (first tab) change your Report Basis to either Cash or Accrual. I use accrual, all this means is that it will consider a receivable healthy and count the income after you invoice it. Cash basis only counts the income when you have it in your bank account.

My crews submit a time sheet Thursdays with the amount of time spent at each job. On Friday I enter their time into the Use Weekly Time sheet and split the hours worked to the jobs listed on their time sheet. To keep track of materials I have told all our suppliers to never send me an invoice without a purchase order, if they do I won't pay it. We use the purchase order field to list the customers name. Anything our crews pickup beyond what I drop on-site has the customers name on it as well.

We are using QB Contractor Edition 2008, I just finally after 4 years of using QuickBooks found this report.

Good luck! Hope this helps.

Sarah9910

4 years to find the Job P & L? or was there a different report you were referring to?

SIDrywall, you may need to set up your items, remember to set them up with both sides, income and cost by checking the box to open up both sides fo the item. Then you can post costs and do billings based on items.

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Sarah Keiser, Business Consultant for Contractors
Success In-Formation LLC
Leading the Way in Software Education
www.successif.biz

72chevy4x4

[quote=casey344;458263]My crews submit a time sheet Thursdays with the amount of time spent at each job. On Friday I enter their time into the Use Weekly Time sheet and split the hours worked to the jobs listed on their time sheet. quote]

Can you elaborate on this please? I'm using Pro 2008-is this feature unique to the Contractor's version?

Sarah9910

No, you can enter time with other versions of QB as well. Add items for "drywall, insulation, etc" and then you can post the time to what they did as well as where they worked. This will show up on your job P & L.

__________________
Sarah Keiser, Business Consultant for Contractors
Success In-Formation LLC
Leading the Way in Software Education
www.successif.biz