Quickbooks COA - Contractor Talk - Professional Construction and Remodeling Forum

mvpulsts · 01-09-2006, 10:43 PM

I have decided to go ahead and move into QUickbooks pro 2006 this year. I would like to get everything set up soon so I don't end up spending a huge amount of time filling in a bunch of historical data.

What Id like to ask is if there are any otrher folks out there running a Handyman busines and using quickbooks to track accounting?

Would you kindly share your chart of accounts? I am trying to work one out so I can more accurately track different aspects of my services and am interested in what others are using?

I have been looking at the NAHB Chart of accounts and it is very complete. Much more than I need. Im looking at whittling that one down and modifying it to suit.

I know the COA is very specific to each persons business but if your in the same business, id love to compare. All i have is a few "service" oriented items and am really curious as to how specific some folks are getting.

Thanks for any and all input,

Matt

Mike Finley · 01-10-2006, 01:38 AM

You're right, my COA just for advertising has over 15 categories, I do this for help with ROI on advertising. It comes down to how much detail you want to track for me.

MinConst · 01-10-2006, 06:21 AM

I've used QB for many years in a few business'. I have found that the COA are better made as you go. If you want to add an account just do it when it comes up. Break the main accounts up into sub accounts like "Construction;remod | Construction;basement | etc. Same thing with expense accounts. Also I would recommend using classes it will help with tracking types of jobs. Painting, remod, deck, bath etc.
Your COA will be your own.

hauoli63 · 01-10-2006, 07:59 AM

I set up our COA to closely match what our accountant has ... he uses PeachTree, but this way I am able to compare what I have every month with what he has.

Grumpy · 01-10-2006, 09:33 AM

Your accountant might even be able to setup the accounts for you or provide you with a file you can import which will setup the chart of accounts for you.

You will find pretty much everyone uses some version of quickbooks.

nadonailer · 01-10-2006, 03:12 PM

Quote:

Originally Posted by MinConst

I've used QB for many years in a few business'. I have found that the COA are better made as you go. If you want to add an account just do it when it comes up. Break the main accounts up into sub accounts like "Construction;remod | Construction;basement | etc. Same thing with expense accounts.

Yes!!

mvpulsts · 01-10-2006, 06:15 PM

Thanks everyone for the input. And you are, of course, right. These things will be fine tuned over a period of time.

To be more clear, now that Ive been working a bit with the program, I actually interested in how folks are organizing their "Item" list for invoicing. Ive got some general items and catagories listed out so far and will tweak them as I go along. Organizational skills have not been my real strong suit over the years and am just curious as to other folks solutions. maybe I could take an idea from one or more other folks and use them in my own system.

Sort of like the form swap forum recently put in. Im looking for an exchange of ideas and techniques for quickbooks. just some help in streamlining the office tasks.

I definately will copntribute wherever I am able. I have been reading this website for quite some time and have learned a lot.

Thanks,

Matt

Grumpy · 01-10-2006, 08:36 PM

Like the chart of accounts your item list is yours and yours only. For example, my invoices directly reflect my contracts with lump sum pricing, then the few optional upgrades. I really have few items.

Sure I break my roofing down into types, and I break my siding down into types and I break my gutters down into types... BUT I get invoices from my subs which are very detailed since they bill me by the piece. So their invoices include each piece of flashing, each box of nail, each bundle fo shingle, etc...