Projects, Progress Invoicing, & Job Costing in QBO

QuickBooks Online Projects Center: Construction & Project Management Bookkeeping

Learn to master QuickBooks Online's Projects Center for efficient bookkeeping in the construction industry and other project management scenarios. This intermediate-level course provides practical skills to manage your finances, track progress, and maximize profitability.

What You'll Learn:

• Estimates & Invoicing:
  • Creating professional estimates quickly and easily.
  • Closing out estimates and converting them into accurate invoices.
  • Managing change orders effectively.
  • Sending milestone invoices to clients for progress billing.
• Payment Management:
  • Taking client deposits to initiate projects.
  • Recording partial payments as work progresses.
  • Issuing professional customer statements.
  • Making bank deposits accurately.
• Job Costing & Expense Tracking:
  • Making time and materials expenses billable to customers.
  • Creating Journal Entries for payroll and expense job costing (including class costing).
  • Generating $0 Paychecks for owner's time.
  • Running insightful job costing reports to analyze project performance.
  • Subtracting retainage from project costs.
  • Calculating Work-in-Progress (WIP) to monitor project financial health.
• Advanced Topics:
  • Calculating labor costs using various methods.
  • Assigning expenses to clients for accurate job costing and invoicing.

Who Should Take This Class?

• Businesses in the trades seeking streamlined bookkeeping solutions.
• Companies that write estimates or bid on jobs, collect deposits, and manage partial payments.
• Bookkeepers and Accountants looking to enhance their QuickBooks Online skills for construction accounting.

Course Details:

• Instructional Level: Intermediate
• Course Length: 3 hours
• Field of Study: Computer Software & Applications
• Delivery Method: QAS Self Study
• Advance Preparation: None

Course Description:

QuickBooks Online can be a powerful tool for construction bookkeeping, even if you're new to the software. This course focuses on the Projects Center, specifically designed for project-based businesses. We'll cover essential features for cost accounting, including managing time and materials contracts, percentage of completion, and generating profitability reports. You'll learn to efficiently handle estimates, progress invoicing, change orders, deposits, partial payments, and job costing. We’ll also address crucial construction-specific billing issues like retainage and Work-in-Progress (WIP). Gain the confidence to manage your finances, track progress, and stay organized with QuickBooks Online's Projects Center.