Streamline your receivables, manage your payables, know which jobs are making you money and which ones are not, and improve your cash flow.
Hour 1:
Setting up your QuickBooks company
Setting up your QuickBooks company
- Set up QuickBooks to work properly for a construction company.
- Set up your customer list, vendor list, and product and services lists to streamline later work.
- Set up for cost plus jobs - creating billable expenses, markup on materials, and price rules for specific customers.
- Set up your chart of accounts so that reports are clear and accurate for yourself and for tax reporting.
- Review of common contracting apps (Jobber, Service Titan, Joist, BuilderTrend, Service Fusion, and LMN).
- Answering the question: “Should I be using QuickBooks Desktop or QuickBooks Online?” – A detailed explanation of the pros and cons of each program.
Hour 2:
Automating receivables to make sure that you get paid
Automating receivables to make sure that you get paid
- Create a smooth receivables workflow from estimate, to invoice, to payment collection.
- Set up scheduled draws, batch invoices, and recurring transactions.
- Establish cost plus, flat rate, or fixed cost items for organized invoicing and reporting.
- Automate the collection process so that your bank balance grows without you needing to chase checks.
- Track billable expenses and automatically invoice them back to your customers on a pre-set schedule.
- Learn how to use classes, projects, and customers to track the progress and profitability of individual jobs.
Hour 3:
Payables: Organizing your expenses
Payables: Organizing your expenses
- Automatically scan and input bills and receipts that your crew submit on their phones.
- Use online tools to automatically fetch your monthly bills and statements.
- Create approval workflows to authorize bill payments.
- Use electronic payments, and why you may never need to buy checks again.
- Create a searchable document vault to protect your business in the case of an audit.
- Feed bank activity into QuickBooks so that you don’t have to manually create transactions.
- Use automatic reconciliation features.
- Learn how algorithms can match transactions in your bank accounts for you.
Hour 4:
More accurate and efficient payroll
More accurate and efficient payroll
- Automate timecard entry for employee payroll.
- Use geo-fencing and GPS functions to ensure accurate time and mileage tracking.
- Track employee time against specific jobs and automatically invoice the time back to your customers.
- Put your payroll deductions, filing, and remittance payments on autopilot.
- Automatically create and file quarterly and annual federal and state tax forms and remittances.
Hour 5:
Using QuickBooks to measure business performance and make better decisions
Using QuickBooks to measure business performance and make better decisions
- Use project and class tracking to figure out which jobs, and which parts of jobs, are making money and which ones are not.
- Customize reports so they provide the information you want, presented the way you want it.
- Automatically generate reports and have them sent to your inbox on a regular basis so that you can review your business’ performance.
- Create a cash flow budget that updates in real-time so that you can monitor and make timely decisions.
- See the full picture of your business so that you can maximize the use of available assets.
Special Notes:
- Complimentary breakfast snacks and coffee will be provided.
- Dressing in layers is recommended due to room temperature variations.
- You will be notified by email if any changes are made to the workshop (i.e., date, venue, or workshop times).
- Walk-in registrations will be accepted as space allows.
- Please, no audio or video recording.