QuickBooks ® Pro + AccountingPRO TM Big System Features — Small System Price,...

QuickBooksQuickBooks® ® Pro + Pro + AccountingAccountingPROPROTMTM

Big System Features— Small System Price, . .

.

BigBig SystemSystem Features Features——Small SystemSmall System Price, . . .Price, . . .

Use QuickBooksQuickBooks®® Pro Pro ++ Accounting AccountingPROPROTMTM

QuickBooks® ProTM is a registered trademark of Intuit, Inc.

Are youAre you lookinglooking for?for?

Accurate?Accurate?

Immediately accessible?

Customized to your company?Customized to your company?

Easy to understand?Easy to understand?

financial information that’s:




Do youDo you wantwant? ?

Big picture?

Reasonably priced?Reasonably priced?

Job-specific?Job-specific?

financial information that’s:




Do youDo you needneed financial informationfinancial information

Internal managers?

Tax preparers?

Business partners?

Bankers?

That can be used by others ? E.g.:




Designed for:Designed for:

BuildersBuilders

RemodelersRemodelers

DevelopersDevelopers

ContractorsContractors




Designed for:Designed for:

BuildersBuilders RemodelersRemodelers

DevelopersDevelopers

SpecialtySpecialtyServicesServices

Custom Custom HomesHomes

HandymanHandyman

ContractorsContractors

Land Land

DevelopmentDevelopment

Cost Plus Cost Plus

ProjectsProjects

FixedFixedPricePrice

ContractsContracts

Spec Spec

HomesHomes

GeneralGeneralContractorsContractors




Designed to be used by:Designed to be used by:

Bookkeeping staffBookkeeping staff

Business owners/partnersBusiness owners/partners

EstimatorsEstimators

PurchasersPurchasers




Can also be used by:Can also be used by:

Outside bookkeeping servicesOutside bookkeeping services

CPAs and tax advisors




AccountingAccountingPROPROTM is

Convenient

Flexible

Comprehensive




AccountingAccountingPROPROTM is

Advanced

Robust

Valuable




Your in-house accounting system means:Your in-house accounting system means:

No need to gather & transport records to outsidersNo need to gather & transport records to outsiders

No need to wait on outsiders for monthly reportsNo need to wait on outsiders for monthly reports Format reports the way YOU want to see themFormat reports the way YOU want to see them

Correct errors immediately—rather than next month !Correct errors immediately—rather than next month !

Source documents never leave your officeSource documents never leave your office

AccountingPROTM is Convenient




An in-house accounting system means:An in-house accounting system means:

You have control over your file and dataYou have control over your file and data

Various “work-from-home” options existVarious “work-from-home” options exist

Answers to questions are Answers to questions are immediatelyimmediately available available


Ï

P

?





NED2™

“Never Enter Data Twice”

™ Intuit, Inc.




EstimatedEstimated

Purchase OrdersPurchase Orders

InvoicesInvoices

BillsBills

ChecksChecks

Credit Card ChargesCredit Card Charges

ITEM LIST

Income

Site Prep a.Labor b.Subs c.Material d.Other v.Variance

Framing a.Labor b.Subs c.Material d.Other

ITEM LIST

Income

Site Prep a.Labor b.Subs c.Material d.Other v.Variance

Framing a.Labor b.Subs c.Material d.Other

DETAILED JOB-COST REPORTIncome

Site Prep a.Labor b.Subs c.Material d.Other v.VarianceFraming a.Labor b.Subs c.Material d.Other

DETAILED JOB-COST REPORTIncome

Site Prep a.Labor b.Subs c.Material d.Other v.VarianceFraming a.Labor b.Subs c.Material d.Other

Fixed-PriceContracts

Income

Cost-use to prepare:

Time & Cost

PayrollPayrollTime SheetsTime Sheets

Percentage of Completion





Company File PreferencesCompany File Preferences

Pre-set selections:Pre-set selections:


Help to fully Help to fully utilize utilize ADVANCED ADVANCED featuresfeatures of of QuickBooksQuickBooks®® Pro Pro

Meet typical Meet typical building industry building industry needsneeds




My (Individual User) File PreferencesMy (Individual User) File Preferences

Accompanying Accompanying documentation:documentation:


Offers time-saving Offers time-saving tips for efficient usetips for efficient use

Provides insights Provides insights and suggestionsand suggestions




Avoid debits and credits !!!Avoid debits and credits !!!

AccountingPRO™works hand-in-hand with AccountingPRO™works hand-in-hand with QuickBooksQuickBooks® ® Pro’s sub-systemsPro’s sub-systems

Very few journal entries are requiredVery few journal entries are required

Pre-built sample transactions act as “tour guides”Pre-built sample transactions act as “tour guides”





62 Pre-built 62 Pre-built Sample TransactionsSample Transactions

Includes Includes simplesimpleas well asas well ascomplex transactionscomplex transactions


Use samplesUse samplesas a guideas a guideor or convert toconvert toactual transactionsactual transactions




62 Pre-built Sample Transactions62 Pre-built Sample Transactions


ON-SCREEN ON-SCREEN INSTRUCTIONS INSTRUCTIONS provide guidanceprovide guidance




Item-based job costingItem-based job costing

Is the Is the most efficient waymost efficient way to coordinate with other to coordinate with other QuickBooksQuickBooks® ® Pro sub-systems and reports, e.g.,Pro sub-systems and reports, e.g.,


EstimatesEstimatesPurchase OrdersPurchase OrdersTimesheetsTimesheets

InvoicesInvoices




Item-based job costingItem-based job costing


Eliminates the need to enter additional Eliminates the need to enter additional CLASSCLASS information in information in EACHEACH transaction, and to regularly transaction, and to regularly proof and balance class informationproof and balance class information

Provides data for QuickBooksProvides data for QuickBooks®® Pro’s Pro’s special special Jobs & TimeJobs & Time reportsreports




AccountingPROTM is Comprehensive

Pre-built Chart of AccountsPre-built Chart of Accounts Select from Select from 358358 accounts and title accounts accounts and title accounts

Easily Easily adaptableadaptable to nearly any company’s needs to nearly any company’s needs

Accounts Accounts pre-numberedpre-numbered and coded for easy reference and coded for easy reference

Quick start upQuick start up and customization and customization Minimal need for new accountsMinimal need for new accounts

Activate/inactive accounts as needs changeActivate/inactive accounts as needs change





Pre-built Chart of AccountsPre-built Chart of Accounts

Accounts are grouped by Accounts are grouped by business functionbusiness function

Grouping accounts creates:Grouping accounts creates:

Subtotals by functionSubtotals by functionCost-management infoCost-management info

Easy-to-read reportsEasy-to-read reports




AccountingPROTM is Comprehensive Pre-built Chart of AccountsPre-built Chart of Accounts

Yields Yields traditional traditional Balance Balance SheetSheet reports reports

acceptable acceptable to most to most bankersbankers and and tax tax

preparerspreparers





Yields traditional Income Statement acceptable to most bankers and tax preparers

Summary report with %’s of income





“Cost of Goods Sold”

(direct expense)accounts

creategross profit

subtotalsto monitor

profit margin

(Summarized report with %’s of income)





Pre-built Chart of AccountsPre-built Chart of Accounts

User assistance: account description fields cross-User assistance: account description fields cross-referenced to referenced to Accounting with QuickBooks ProAccounting with QuickBooks Pro

Includes special accounts for Includes special accounts for tax-savingstax-savings and and tax tax preparationpreparation assistance assistance

Non-operations income and expense assigned to Non-operations income and expense assigned to “other” category “other” category – segregates “operations” income– segregates “operations” income





Pre-built Items ListPre-built Items List

Select from, & track costs for, up to Select from, & track costs for, up to 336336 job processes job processes

Choose simple, mid-level, or detailed job cost trackingChoose simple, mid-level, or detailed job cost tracking

Over 1,500 Items properly linked to chart of accountsOver 1,500 Items properly linked to chart of accounts

Items Items pre-numberedpre-numbered and coded for easy entry and coded for easy entry Quick start upQuick start up and customization and customization

Make Items active or inactive as needs changeMake Items active or inactive as needs change






Items are grouped Items are grouped By job stageBy job stageIn order of completionIn order of completion

Grouping Items creates:Grouping Items creates:

Subtotals by job stageSubtotals by job stage

Detailed job-cost reportsDetailed job-cost reports






Special items to track customer “allowances”Special items to track customer “allowances”

““Income only” items designed for fixed price contractsIncome only” items designed for fixed price contracts

Result: Collect for customer allowances exceededResult: Collect for customer allowances exceeded

Variance items highlight variances from P.O.sVariance items highlight variances from P.O.s Result: better control over vendor expenditures Result: better control over vendor expenditures

Result: Quickly review progress billings to dateResult: Quickly review progress billings to date






Yields variousYields variousDetailed job costDetailed job costreportsreports.,.,e.g.: e.g.:

Estimated vs. Actual Estimated vs. Actual job cost reportsjob cost reports




AccountingPROTM is Comprehensive Pre-built Items ListPre-built Items List

YieldsYieldsdetailed detailed job-stagejob-stagetransactiontransactionreports:reports:Useful forUseful for INTERNAL INTERNAL

REVIEWREVIEWor toor to

SUPPORTSUPPORTBANK DRAW BANK DRAW REQUESTSREQUESTS





Customer:job ListCustomer:job List

Choose from various Customer:job list optionsChoose from various Customer:job list options

Special pre-built jobs track and accumulate various Special pre-built jobs track and accumulate various direct, non-job specific (NJS) costsdirect, non-job specific (NJS) costs

Result: Well-designed lists yield better reportsResult: Well-designed lists yield better reports





Special jobs (e.g., NJS, Sales, Admin, etc.)Special jobs (e.g., NJS, Sales, Admin, etc.)

Special jobs are grouped:Special jobs are grouped:Direct costDirect cost special jobs subtotal with other jobs special jobs subtotal with other jobsOverheadOverhead special jobs are totaled separately special jobs are totaled separately

Special jobs also help to:Special jobs also help to:Allocate pooled NJS costs to jobsAllocate pooled NJS costs to jobsExtract profitability info by product lineExtract profitability info by product line





Pre-built Payroll Items ListPre-built Payroll Items List

Extensive Payroll Items ListExtensive Payroll Items List

Each Payroll Item is linked to Each Payroll Item is linked to proper accountproper account

Logical 3-stroke codes make Logical 3-stroke codes make entry fast and easyentry fast and easy




AccountingPROTM is Comprehensive Payroll Items ListPayroll Items List

Assign payroll and payroll taxes to:Assign payroll and payroll taxes to: JobsJobs Non-job specific (NJS) jobNon-job specific (NJS) job SalesSales AdminAdmin

Track costs for different types of pay such as:Track costs for different types of pay such as: Direct labor on jobsDirect labor on jobs OvertimeOvertime TrainingTraining HolidayHoliday VacationVacation





Pre-built Payroll Items ListPre-built Payroll Items List

Yields:Yields: Detailed information about where and how Detailed information about where and how

employees’ time is spentemployees’ time is spent

Use info to:Use info to:Set goalsSet goalsMonitor resultsMonitor resultsRe-direct priorities or activitiesRe-direct priorities or activitiesEstimate or price more effectivelyEstimate or price more effectivelyAccess detailed reports for Workers’ Comp audits Access detailed reports for Workers’ Comp audits

or other payroll-related (e.g., union) reportsor other payroll-related (e.g., union) reports




AccountingPROTM is Comprehensive Other Pre-Built Lists Other Pre-Built Lists

(customize as desired)(customize as desired)

Customer Type ListCustomer Type List

Payment Terms ListPayment Terms List

Vendor Type ListVendor Type List

Customer Message ListCustomer Message List

Payment Method ListPayment Method List

Ship Via ListShip Via List




Better financial information =Better financial information =

Position of knowledge = position of strengthPosition of knowledge = position of strength

Higher profits

Better estimatingBetter estimating

Informed pricingInformed pricing

Develop strengthsDevelop strengths Downplay weak pointsDownplay weak points

Better sales decisionsBetter sales decisions

Negotiate costsNegotiate costs





Monitor Monitor individual jobsindividual jobs

Higher profits

Estimate and plan jobsEstimate and plan jobs

Hold employees accountableHold employees accountable

Track and charge for additional workTrack and charge for additional work Improve estimating and processesImprove estimating and processes

Hold trades accountableHold trades accountable

Course correctCourse correct





Support Support company growthcompany growth

Higher profits

Identify your winnersIdentify your winners

Create a winning strategy and goalsCreate a winning strategy and goals

Improve administrative operationsImprove administrative operations Enhance admin image with customers and vendorsEnhance admin image with customers and vendors

Use budgets to monitor progressUse budgets to monitor progress

Determine your market focusDetermine your market focus




Improve your bottom lineImprove your bottom line Example #1:Example #1:

Pricing your jobs

Use better info to price jobs more accurately Use better info to price jobs more accurately ——

If your annual gross income = $800,000If your annual gross income = $800,000

Just a 2% improvement =Just a 2% improvement = $ 16,000 $ 16,000 per yearper year





Change orders & allowances

If your annual gross income = $800,000If your annual gross income = $800,000

Just a 0.5% improvement =Just a 0.5% improvement =

Use better information to increase collections on Use better information to increase collections on change orders and allowances change orders and allowances ——

$ 4,000 $ 4,000 per yearper year





Increase employee productivity

Set specific targets and goals for employees Set specific targets and goals for employees ——

½ hr per day saved = 6.25% ½ hr per day saved = 6.25% improvementimprovement

If your annual gross labor cost = $200,000If your annual gross labor cost = $200,000 AnnualAnnual cost savings = $ 13,500 cost savings = $ 13,500

OROR Annual gross revenue increase of Annual gross revenue increase of $18,000$18,000**

*Assuming a 35% markup on labor *Assuming a 35% markup on labor costcost





Control contractor costs

Use improved controls (e.g., Purchase Orders) to Use improved controls (e.g., Purchase Orders) to negotiate and control contractor costs negotiate and control contractor costs ——

If your annual gross cost = $200,000 If your annual gross cost = $200,000 A modest 3% savings = $ 6,000 A modest 3% savings = $ 6,000 per yearper year





Control materials costs

Use improved controls (e.g., Purchase Orders) to Use improved controls (e.g., Purchase Orders) to negotiate and control materials costs negotiate and control materials costs ——

If your annual gross cost = $200,000 If your annual gross cost = $200,000 2% savings = $ 4,000 2% savings = $ 4,000 per yearper year





Increase production

With more effective and efficient operations in place, With more effective and efficient operations in place, take on additional work take on additional work — — E.g., E.g.,

$100,000 additional work at a gross profit of 25%$100,000 additional work at a gross profit of 25%

= Additional income of $25,000 = Additional income of $25,000 per yearper year





Decrease admin costs Organized, accurate, records and profitable Organized, accurate, records and profitable

operations also create other possible savings such operations also create other possible savings such as as reducedreduced costs for: costs for:

Outside accounting servicesOutside accounting servicesTax preparationTax preparationTax penaltiesTax penalties Interest (due to reduced debt)Interest (due to reduced debt)

(Savings depend on actual circumstances)




Improve your bottom lineImprove your bottom line

Summary of Examples

A A structuredstructured, , systematicsystematic approach to record-keeping and approach to record-keeping and controls can yield significant controls can yield significant bottom line increasesbottom line increases::

1. More accurate pricing1. More accurate pricing $ $ 16,000 16,000 2. Better Change Order tracking/collection 2. Better Change Order tracking/collection $ 4,000 $ 4,000

3. Labor efficiencies (min) 3. Labor efficiencies (min) $ 13,500 $ 13,500 4. Contractor savings4. Contractor savings $ 6,000 $ 6,000 5. Improved materials costs 5. Improved materials costs $ $ 4,0004,0006. Increased production 6. Increased production $ $ 25,000 25,000 7. Other improvements7. Other improvements ? ? ‘‘

AnnualAnnual (recurring) bottom line impact (recurring) bottom line impact $ $ 68,50068,500

QuickBooks ® Pro + AccountingPRO TM Big System Features — Small System Price,...

Documents

Transcript of QuickBooks ® Pro + AccountingPRO TM Big System Features — Small System Price,...