QuickBooks

Top QuickBooks Enterprise Features For Construction Businesses

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Regardless of the size of your business and the industry you are in, it will definitely have its own accounting needs. However, there are several difficulties that people in the construction business face when accounting. For example, it can be hard to record the billing details, labor costs and production levels because their work is usually project-based. As such, every project is different in its own way with different inputs and outputs. Furthermore, they might not have stipulated time frames because of the evolving nature of the projects. This is why if your business is in the construction industry, you should consider visiting a trusted reseller of QuickBooks for accounting solutions. The following sections will describe the best QuickBooks Enterprise features for construction businesses.

Industry Specific

It doesn’t really matter if you are in the construction industry or hospitality industry. The fact is that QuickBooks Enterprise is industry specific because of the advanced reporting (QBAR). This enables users to specifically curate their financial reports that are most relevant to business operations. QBAR consists of more than 140 starter reports that are easy to navigate and saves a great deal of time. Contractors have found great success with QuickBooks Enterprise when it comes to things like the total cost to complete a project by job, job profitability summaries and the total unbilled hours. The fact is that these reports can be easily customized to suit the needs of your construction business.

Better Electronic Invoicing

Contractors often utilize progress billing to manage their cash flow for up and coming projects. While QuickBooks is useful for progress billing, QuickBooks Enterprise is even more suited for contractors. The software allows clients to pay using state-of-the-art electronic invoicing. Using the system will allow you to email the invoices directly using a payment link. Once the payment has been made, it will be invoiced accordingly. If you want to further optimize the software, you can utilize electronic invoice templates that are unique to certain clients. As such, your accounting team will no longer have to be concerned about recording payments to the invoices. Furthermore, if your clients do not pay on time, you can choose to set automatic reminders to help you better collect money.

No More Negative Inventory

If you are a contractor, chances are that you would have dealt with negative inventory before. This is when your accounting team finds that there are less than zero inventory items that are currently in stock. This always is a waste of time because a lot of energy has to be put into finding out where the error is. QuickBooks Enterprise is great for contractors because it prevents negative inventory from happening. All you have to do is check the ‘warn if not enough inventory to sell’ box and click on ‘don’t allow negative qualities’.

Change Orders

Change orders can be a good or bad thing for people in the construction industry. It can serve as a means for your company to earn more money on the project because there is usually more work included. If the contractor does something for the customer before they had even suggested a change order, it can ruin potential long-term relationships and lose you a lot of money as well. QuickBooks Enterprise helps to optimize the process of creating change orders and all you need is to edit the initial estimate and save the changes. You should then click on the change order window which will allow you to do so just by clicking on the button.

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About Marjorie Adams

Our head QuickBooks trainer and guru, Marjorie Adams, is Founder and CEO of Fourlane, Inc., an award-winning consulting firm and Intuit’s #1 QuickBooks Reseller Partner. Fourlane’s team of experts offers several QuickBooks oriented services including consulting, training, programming, integration, and more. Over the years, Fourlane has helped over 10,000 customers across many different industries with their QuickBooks accounting software. Marjorie Adams is considered one of the top QuickBooks trainers in the country. She was listed on CPA Practice Advisor’s 40 Under 40 in 2014 & 2015, and has been recognized as Intuitive Accountant’s 2015 QuickBooks Desktop ProAdvisor of the Year. Marjorie sits on Intuit’s VIP Program, is a frequent contributor to Inuit Accountants News Central, and has developed Intuit’s QuickBooks Enterprise Certification training. She has also been published in The Wall Street Journal, Forbes, BusinessWeek, American Express Open, the Huffington Post, and Inc. Magazine.

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