I am fairly new to Quickbooks Desktop for the construction/builder industry. Our previous accountant set up our Quickbooks incorrectly. I have apparently been entering in transactions incorrectly. Our new accountant has suggested using WIP (Work in Progress) accounting method for each construction job. Does this mean I have go back and redo everything? I am so confused how to proceed.
To receive the best answer to your question, I recommend reaching back out to your accountant. They'll be able to provide you with the most accurate accounting information about WIP for your unique business.
If you have any other questions, please don't hesitate to ask. Enjoy the rest of your evening.
As additional option, consider using a contractor / remodelling business app to help your operation. There are some similar apps in the market and you may start exploring from this one. Unfortunately it only supports QB Online. You may utilize a 3rd party importer tool to migrate the data into QB Desktop.
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