Quickbooks Help

fliptb

Does anyone here use Allowances for clients in factor contract amounts for their clients? it gives them a dollar amount in the contract that they can spend on selectable items for their home. Fireplace, appliances etc. sometimes they come in under that amount sometimes over, at which time the client owes more money.

and if so...do you use quickbooks premier?

i'm curious how they set up their chart of accounts in quickbooks.
thanks

Grumpy

I'm not a builder but from time to time I will set an allowance. This is especially true when someone wants a price for a door but doesn't know what kind of door they want.

If you know how to setup an account in quickbooks I don't really see the problem. Am I missing something?

hatchet

Even though an allowance is given for something like Windows.. the contractor is still responsible for providing a best guess. Then if the actual amount is under the allowance the builder should reimburse those costs.. and vice versa if the amount is over the allowance the owner would pay.
I used to use Quickbooks Pro and it's pretty easy to setup an account.

__________________
Rich
WIT Construction Co.
Superior MT Contractor

fliptb

I know it's been a while but thanks for the advice! i'm up and running w/ quickbooks premier contractor.

Grumpy

Was it worth the extra cost? I had given it a try before I decided to buy pro. I didn't think the "features" warranted the extra dollars.

Sarah9910

Grumpy, if you are residential, check out the database that is provided by Diane Gilson of Accounting Pro. All set up with items, Chart of Accounts based on NAHB, specifically designed for QB users, any version. You use it as a template for the needs within QuickBooks. Go to www.infoplusacct.com to see more about it. Very reasonable and very awesome. Saves lots of time on set up. Yes, it gives you more than you need but it's easier to "inactivate" what you don't need rather than to type in all that you do need.

Grumpy

Sarah, thanks for the advice. What I did was used premier contractor to setup my accounts as a template then I built off that when I switched to pro. Allt he contractor specific accounts were already setup.

It's too late now to scrap my company for a new template.

Teetorbilt

Sarah, where are you and what do you do?

Sarah9910

I'm in Florida now...sometimes I'm in Michigan. I used to work for Omware (10yrs with Master Builder software), then Intuit, when they bought Master Builder from Omware. They kept me on board for a couple years after the purchase as a regional sales and training manager, then downsized all their RM's. Before being an employee I was an independent consultant for many softwares. I found that it was nice to only rep one, then you could be the best at it. But...there wasn't enough work out there after being downsized to only work with one software and after 911, sales just stalled. I'm in Florida now, working with my sister and her hubby at a Computer Renaissance, selling computers and also training people on basic systems. Microsoft products, QB, MB, and business management in general. Of course, contractors are my favorite but I work with many companies and now even individuals.