Keys to Job Costing so You Can Increase Your Profitability Keys to Better Job Costing in QuickBooks so You Can Increase Your Profitability Helping businesses.

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Presentation transcript:

Keys to Job Costing so You Can Increase Your Profitability Keys to Better Job Costing in QuickBooks so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Monica Mitchell Muir Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Keys to Better Job Costing in QuickBooks Common Problems Common Mistakes 4 Keys to Job Costing

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Common Problems Under/over estimate job costs Difficulty tracking job costs Lack of confidence in reports Competitive economy Smaller profit margins Time to get tasks done

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Common Mistakes Version won’t support what you want Poor Setup Incorrectly using QuickBooks Mis-using or not using items Not using power tools Missing out on good reports

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Essentials QuickBooks version Setup

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Version of QuickBooks For feature comparison chart and videos

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences Chart of Accounts Classes Items Job Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences - Jobs Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences - Payroll Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences – Sales/Work Order Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Preferences – T & M Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Chart of Accounts Job expenses are COGS (including labor costs) Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Helping businesses make dollars & sense with QuickBooks Job Cost with Items and Classes instead of so many income and COGS accounts Chart of Accounts

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Helping businesses make dollars & sense with QuickBooks Simplify with Classes

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Items are KEY! Helping businesses make dollars & sense with QuickBooks Setup Item to capture costs

Keys to Job Costing so You Can Increase Your Profitability Setup is Key Create Jobs in Customer List (Customer:Job) Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Sales Costs Helping businesses make dollars & sense with QuickBooks Transactions

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Sales Estimates Work Orders Invoices

Keys to Job Costing so You Can Increase Your Profitability Enter Estimates in QuickBooks Helping businesses make dollars & sense with QuickBooks Sales

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Invoices From Estimate From Work Order Time & Materials

Keys to Job Costing so You Can Increase Your Profitability Costs Labor Materials Subs Equipment Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Job Costing Labor Time Tracking Payroll Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Job Costing Labor Timesheets Paycheck Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Job Costing Labor Helping businesses make dollars & sense with QuickBooks Reports

Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Items Purchase Orders Accounts Payable vs Write Check Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Use Items for Job expenses Materials and Subs

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Purchase Orders for tracking what’s due Materials and Subs

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Purchase Orders for tracking what’s due Materials and Subs

Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Helping businesses make dollars & sense with QuickBooks Accounts Payable vs. Write Check More reporting options Costs are all in one place Know costs before payment due Easier for cash flow

Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Materials and Subs Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Equipment Cost equipment for job – Real data or flat figure – Use for future bidding Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Equipment

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Equipment

Keys to Job Costing so You Can Increase Your Profitability Power Tools Add-ons Helping businesses make dollars & sense with QuickBooks Streamline

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks QuickBooks Power Tools Templates – Estimate, Invoice, Purchase Order, Sales/Work Order Batch – Invoices, Timesheets Memorized Transactions – Recurring, Complex, Automatic/not Groups – Items, Memorized Transactions, Reports

Keys to Job Costing so You Can Increase Your Profitability Helping businesses make dollars & sense with QuickBooks Add-ons Benefits Does what you need/want more easily Cuts down on double-entry Saves times Fewer errors Can save money Examples Intuit’s Merchant services or payroll Time-tracking:TSheets Industry Specific: CLIP/HindSite/Landscape Mgmt Network Method Integration Transaction Pro Importer Reporting: QQube

Keys to Job Costing so You Can Increase Your Profitability 4. Monitor and Analyze Check Points Key Reports Customize Reports Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Check Points During project After project Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks During Project Time Costs Invoiced to date Expenses Not Assigned to Jobs Unbilled Costs Committed Costs Cost to Complete

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks During Project - Time

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks During Project

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks During Project

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks During Project - Invoiced

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks During Project - Invoiced

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks After Project Profitability –Job Profitability –Customer Profitability –Product/Service Profitability –Division (Class) Estimated vs Actual Time

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks After Project

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports Helping businesses make dollars & sense with QuickBooks After Project – Product/Service

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports After Project - Division Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Key Job Reports After Project - Division Helping businesses make dollars & sense with QuickBooks

Keys to Job Costing so You Can Increase Your Profitability Q &A and More… Helping businesses make dollars & sense with QuickBooks FREE Free QB Package of Your Choice Monica Mitchell Muir FREE 2 nd Free QB Package of Your Choice with survey