QuickBooks for Contractors
QuickBooks Setup and Support Built Around Construction
QuickBooks can be a powerful accounting system for contractors—but only when the chart of accounts, job-costing structure, payroll, subcontractor records and project-management workflow are set up in a way that reflects how the business actually operates.
Is Your QuickBooks File Actually Set Up for Construction?
A QuickBooks file can technically “work” while still making it difficult to understand what is happening in your construction business.
If the chart of accounts is too generic, jobs are not tracked consistently, payroll or subcontractor costs are recorded incorrectly, or project-management software is not coordinated with the accounting workflow, your financial reports may not give you the information you actually need.
Excel Consulting can review your existing QuickBooks setup and help identify where the accounting structure, workflow or reporting could be improved.
A QuickBooks Review May Include:
- Chart of accounts structure
- Bank and credit card account setup
- Customer and project organization
- Job-costing structure
- Income and expense categorization
- Payroll account setup and workflow
- Subcontractor and 1099 tracking
- Accounts receivable and accounts payable
- Project-management software workflow
- Financial report setup and review
Signs Your QuickBooks May Need Attention
- Your P&L is has negative numbers or numbers that don’t make sense
- You can’t easily tell which jobs are profitable
- Project costs are showing up in the wrong places
- Your chart of accounts has become cluttered
- Payroll or subcontractor costs aren’t being tracked consistently
- QuickBooks and your project-management system don’t seem to agree
- You rely on spreadsheets outside QuickBooks to understand the business
CHOOSING THE RIGHT QUICKBOOKS VERSION
Not Every Contractor Needs the Same Version of QuickBooks
QuickBooks has grown far beyond basic bookkeeping software. The right version depends on the size and complexity of your construction business, how you track jobs, the number of people who need access, your reporting requirements and whether you manage multiple companies or entities.
Established Contractor
QuickBooks Online Plus
Plus includes Projects, allowing contractors to track income and costs by project and monitor project profitability. It also supports bills, 1099 contractors, inventory and other standard accounting functions.
Growing Contractor
QuickBooks Online Advanced + Construction Module
For growing contractors who need more detailed project financials, stronger reporting and more sophisticated workflows, QuickBooks Online Advanced with the Construction Module may provide significantly more visibility than Plus.
Larger / Multi-Entity Contractor
Intuit Enterprise Suite
Larger contractors, multi-company businesses with more complex financial and operational requirements. Intuit Enterprise Suite provides a more robust ERP environment designed for complex project costing, multi-entity reporting and greater operational control.
A SIMPLE STARTING POINT
There’s a Better System Than the Shoebox
Not every small contractor needs a full QuickBooks subscription on day one. For very small or low-transaction businesses that primarily need organized accounting records, financial reporting and cleaner information for tax preparation, Excel Consulting can provide access to QuickBooks Ledger—a streamlined QuickBooks product available only through accounting professionals.
It can be a practical way to move away from spreadsheets, piles of receipts and the proverbial shoebox while establishing organized financial records that can grow with the business.
QUICKBOOKS TRAINING & ADVISORY
Already Have Someone Handling the Books?
If your office manager or bookkeeping staff handles the day-to-day accounting, Excel Consulting can provide QuickBooks training and ongoing advisory support to help keep the books on track.
Support may include staff training, workflow questions, month-end review, job-costing guidance, troubleshooting and construction-specific accounting support.
CONSTRUCTION SOFTWARE WORKFLOWS
QuickBooks Doesn’t Have to Work Alone
Many contractors use project-management software to manage estimates, jobs, invoices, subcontractors and project documentation. The challenge is making sure the information flowing through those systems is reflected consistently in the accounting records.
Excel Consulting can work with construction platforms such as Buildertrend, BuildTools, Procore and Adaptive and help coordinate the workflow with QuickBooks Online so project and financial information stays organized.
The goal isn’t to force every system to do the same job. It’s to make sure the accounting workflow makes sense and that the financial information you rely on is complete and useful.
Your project-management system runs the job. QuickBooks should help you understand the financial results.
Ready to improve your Quickbooks Setup?
Your Accounting System Should Make Your Business Easier to Understand
Whether you need help choosing the right QuickBooks solution, improving an existing setup or coordinating QuickBooks with the way your construction business actually operates, the first step is reviewing what you have today.
QUICKBOOKS CERTIFICATIONS
Certified QuickBooks Expertise for Construction Businesses
Excel Consulting combines hands-on construction experience with advanced QuickBooks training to help contractors build accounting systems that are organized, reliable and useful for running the business.
QuickBooks expertise matters most when it’s paired with an understanding of how construction companies actually operate.
Frequently Asked Questions
Which version of QuickBooks is best for a construction company?
There isn’t one version that fits every contractor. QuickBooks Online Plus may work well for established contractors who need basic project tracking and job-cost visibility, while QuickBooks Online Advanced with the Construction Module offers more robust project financials and reporting. Larger or multi-entity construction businesses may be better suited for Intuit Enterprise Suite. Excel Consulting can help evaluate which option fits your business and accounting workflow.
Do I have to switch to QuickBooks Online to work with Excel Consulting?
No. Excel Consulting can review your existing accounting system and workflow before recommending a change. If what you are using works for your business, there may be no reason to replace it simply for the sake of moving to QuickBooks Online.
What is QuickBooks Ledger, and who is it for?
QuickBooks Ledger is a streamlined accounting option available through accounting professionals. It can be useful for very small or low-transaction businesses that need organized bookkeeping and financial reporting but do not yet need full project-management or construction job-costing capabilities.
Can QuickBooks track job costs for construction projects?
Yes, when the accounting structure and project workflow are set up correctly. QuickBooks can help organize project income and costs such as materials, subcontractors, payroll and other job-related expenses so you have a clearer picture of project profitability.
Can QuickBooks work with Buildertrend, BuildTools, Procore or other construction software?
Yes, construction companies often use project-management software alongside QuickBooks. Excel Consulting can help coordinate the accounting workflow between QuickBooks and systems such as BuilderTrend, BuildTools, Procore and Adaptive so project and financial information is recorded consistently.
Can you fix an existing QuickBooks file that was set up incorrectly?
Yes. A QuickBooks review can identify issues with the chart of accounts, reconciliations, project organization, transaction classifications, payroll or subcontractor accounting and other areas that may be affecting your financial reports. If significant corrections are needed, bookkeeping cleanup can be completed before establishing an improved ongoing workflow.
Learn About Bookkeeping Cleanup →
I already have staff that handles the day-to-day bookkeeping. Can you help with QuickBooks training?
Yes. Excel Consulting provides QuickBooks training an ongoing advisory support to help get new employees trained and keep the books on track.
Learn About QuickBooks Training →