Construction company process in Quick Books
Accounting process of construction company in Quick Books software is very simple and any can easily learn.
we will create new company in the same way as distribution company and manufacturing company creation.
as you select your industry,select General Construction or general contractor.
Create inventory items from the top list menu items.
all items which are necessary for different phases. then create phases, because your construction project will be divided into different phases.
like construction phase, electric phases sanitation phase . in creating Groups provide items for each Group.
for example for construction phase or group Provide bricks, sand, iron , cements etc.
similarly how much group you want , can create in this way.
after creating different group.
click on Customer Menu 1st create new customer and select estimate or proposal, in proposal or estimate in the item option select Group like construction phase(group).
select all the group from the estimate items option.
No Need for sales order, directly create Invoice. as you select invoice from the customer Menu.
it will a message of Progress invoice .
you could select the percentage for on your customer agree with your company.
because in construction company customer will not pay the total amount,but percent of completion.
now receive amount from this customer and then you will again make another invoice for the remaining amount and again will receive the amount from the customer menu and receive payments option.
All other accounting procedure is same only creating of different phases is different in quick book.
payroll, Petty cash expense assets purchase , depreciation, accumulated Depreciation is same as in Distribution company.
here you should watch both the videos, writing materials and at the same time practice on your installed software.
i think there will be no further need of teacher, any way if needed our help contact us and tell us about the issue where you are facing ,hopefully we will solve.