for Contractors Resources

QuickBooks for contractors item list and Chart of Accounts..

Penny Lane’s Top 5 QuickBooks Job Costing Reports

Learn how they can help Contractors make smarter, more profitable decisions every day!

In this video, I will share with you some of my favorite job-costing reports:

  • Job Estimates vs. Actuals Detail – A line by line detail by phase of your Estimated Costs vs. Actual Costs and your Estimated Revenue vs. Actual Revenue for a job
  • Job Profitability Detail – Simple yet informative – Line by line detail by phase of your Actual Costs vs. Actual Revenue for a job
  • Job Profitability Summary – Actual Costs vs. Actual Revenue for all jobs during a selected time period
  • Job Progress Invoices vs. Estimates – Great for those who do progress invoicing, a summary of the Estimate vs. Billed amount for all active jobs (Estimates).
  • Time by Job Detail – Displays time worked by job in detail – including employee name and item, billed or unbilled.

QuickBooks for Contractors Item List and Chart of Accounts in .iif and excel

Video Demonstrating Importing Chart of Accounts and Item List Templates – *Especially helpful if you receive an error or are integrating into current lists

Importing can be a bit tricky if you are importing into a data file that already has an Item list and established Chart of Accounts. First, to import – From the Gray Menu bar click the “File” menu – then Utilities – then Import. Below are additional recommendations:

Other Templates and References

Before importing – make a backup copy of your company file

  • Import the Chart of Accounts First. As soon as you import – go to your item list and check for duplicates. Make sure to rename any items with the exact same name to something slightly different, either with a different name or “merge” them.
  • Make your old items inactive.
  • Next, review your Chart of Accounts – there will likely be new accounts there. You may not like the way the new accounts are named, feel free to rename them and/or merge with existing accounts that you may already be using to represent them.
  • If you get an error when you attempt to import, check the excel chart of accounts against your current chart of accounts and check for duplicate names/numbers, particularly of a different account “type” This often happens if you already have an account on your item list with the same description or number that is on the one you are trying to import, usually that are a different “type” of item. Example: you have an Expense Account named “Materials,” and you are trying to import a Cost of Goods Sold Account named “Materials.” The account numbers may also be conflicting if you use numbers on your Chart of Accounts.

Tips and Trick Articles for Contractors

Books & E-Books

The Brilliant Bookkeeper Book – $149 Includes Instant E-Book Download

Penny Lane’s 10-Steps To Building Your Own Brilliant Bookkeeping Business

  • Get paid a lot more for your time!
  • Work where and when you want to!
  • Have more time for yourself, your family and friends!
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21 QuickBooks Tips and Tricks E-Book – $49

Save time, money and your sanity – you may even learn to love QuickBooks!

  • Learn to find transactions, customers and vendors – fast!
  • The most efficient way to enter transactions!
  • Create short-cuts, custom forms and reports Avoid common and embarrassing mistakes!

Need more help? Learn more about One on One Coaching and Training with Penny Lane

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Other Cool Stuff I found

21 Offline Marketing Ideas for Contractors JLC Online The Journal of Light Construction

Helpful Products and Discount Links

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QuickBooks Premier Contractor Edition

QuickBooks Premier 2015 Software - Enjoy $120 off! Save Time & Get Organized!

Transaction Importer Pro – Import Transactions via Spreadsheet into QuickBooks

Webgility – download your web sales into QuickBooks

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For Contractors Job Costing Intensive Program