If you are in the construction or contracting industry, you need accounting tools designed for your field. There are versions of QuickBooks and complementary apps that can help you with your business’s financial needs.
QuickBooks Premier Desktop: Built for Contractors
This version of QuickBooks is designed especially for contractors. You can track and analyze costs for each project you are working on, and you can analyze the profitability of each project to help you decide where to focus your future efforts. The software organizes your invoices from vendors so you can easily check which bills you need to pay, and you can generate reports by vendor so you can track spending. You can also use QuickBooks Premier Desktop for Contractors to create bids and bill clients for partially completed jobs.
QuickBooks Desktop Enterprise
QuickBooks Enterprise offers a full range of accounting tools for all kinds of businesses, and the software has features that appeal to contractors in particular. The job costing feature on Enterprise allows you to track and compare estimated and actual project costs, and this feature generates reports related to estimated and actual revenue as well. You can easily customize your accounts so that they are categorized in a way that makes sense for your business. This feature makes it easy to see jobs in progress, overages, shortages, labour, materials, and other categories.
As plans can often change in the contracting industry, this software also allows you to change orders easily. You can adjust estimates, change the cost of goods used, alter labour costs, or make other modifications. The program’s scheduling features to set bill pay reminders or other to-do items let you focus on the job at hand without losing track of what needs to happen at the office. If you want to access your QuickBooks Enterprise software from other computers, that’s relatively easy. The system allows you to authorize five to 30 users, and you can update files in one location and easily sync that information to another location by using the hosting service.
In addition to core accounting software, a range of other apps can help with the financial side of running a contracting or construction business, including Knowify. This program handles job costing, and it can help you track and manage bids and contracts. If you need a client to agree to a contract on site, you don’t have to worry about printing it. Instead, you can email the contract or show the client on your phone, and they can give you a digital signature.
You can sync this app with QuickBooks Online, which can be a great way to enjoy the basic accounting features of QuickBooks Online with access to job costing and other features not offered on the platform. Alternatively, you can opt to sync this program to QuickBooks Desktop with the help of the Knowify support team.