QuickBooks for Contractors is a wonderful and affordable tool for handling your construction company and having leverage over your job costs, but you need to set up and use QuickBooks a little differently than you would for most other companies to use it to its fullest potential. Contractors is a version of QuickBooks Enterprise and if you are trying to set up for the first time then follow the below discussed steps.
First and foremost, you need to set up your Items correctly as they are the core of QuickBooks for Contractors. You should set up an Item on your work costing reports for any level of information you want.
Benefits of QuickBooks for Contractors
QuickBooks is one of the best accounting systems for smaller firms, and it’s a great place to start with an integrated accounting system for the contractors just beginning. Although it’s not designed for construction, it’s made to work for a wide range of companies.
So contractors can still take advantage of using QuickBooks to build. Of course how much depends. More extensive labor costing, specialized billing and complex payroll can result in some limitations eventually being experienced by contractors.
You can start out on QuickBooks for Contractors
To start with, whether you’re an existing GC transforming spreadsheets or a roofer starting out alone, QuickBooks offers you choices. That can be great if you really just want to get your accounting started as you move towards growth. This helps you in
Import and track transactions,
Invoice and accept payments, and
Run basic reports such as P&Ls and cash flows.
You can get various other valuable features too with small business versions like “Essentials” and “Plus”- plus payroll add-ons. So there’s space for development before switching with other applications to a true work cost accounting system.
Instructions to set up QuickBooks for Contractors
QuickBooks Desktop Enterprise is a robust software and there are many variables to its set up QuickBooks for Contractors. To ensure the smooth operation of your Enterprise system, you need to learn the following: networking, file sharing, permissions.
Step1: Prep and test your network
If you are setting up for the first time then it is suggested you to get assistance from experts before you start the procedure. You also take backup of your previous accounting software and select an option for setting up your network. Also verify the network bandwidth as well as check the firewall and AV settings. You must have all the system requirements and check compatibility requirements.
Step 2: Install Enterprise
Download Enterprise version as per the requirements and then install Enterprise software on the server. Once you download then configure the database server manager.
Step 3: Set up sharing
In order to set up sharing, you need to provide access to the company files. Then install QuickBooks Desktop Enterprise software on all the workstations. At last, set up multi-user hosting.
Step 4: Set up your company file & import your existing data
Now, register QuickBooks Desktop Enterprise and then create a company file and then scan the company files.
Step 5: Configure Enterprise to your business
Once the above set up is done then set up your QuickBooks.
Step 6: At last, create users & roles
How to get in touch?
A system/network administrator who understands networking and file sharing that allow you to install and configure the Enterprise applications properly. If you don’t have those resources in-house, or if you need assistance with how to setup QuickBooks for Contractors then you easily connect with QuickBooks experts who are highly experienced in the software.
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