Overview

QuickBooks Online's Projects Center has new tools for construction and project management bookkeeping, including Estimates, Progress Invoicing, and Job Costing.You'll learn about:ProjectsCreating estimatesClosing estimatesConverting estimates to invoicesHow to track change ordersDoing progress invoicingTaking depositsTaking partial paymentsIssuing customer statementsMaking bank depositsMaking time and materials expenses billable to customersCreating Journal Entries for payroll and expense job costing (and class costing)Creating $0 Paychecks for Owner's timeRunning job costing reportsSubtracting RetainageCalculating Work-in-Progress (WIP)After completing this course, you will be able to:Identify the features in the Projects Center to manage construction and other job-based activityDescribe the process to send estimates and milestone invoices to clientsRecognize a variety of job costing reports.Identify the steps to assign expenses to clients for job costing and invoicingReview a variety of methods to calculate labor costsDescribe the process for managing client deposits, retainage, and WIPInstructional LevelIntermediateCourse Length3 hoursField of StudyComputer Software & ApplicationsDelivery MethodQAS Self StudyWho should take this class?Businesses who work in the fieldBusinesses that write estimates or bid on jobs, take deposits for work to be performed, take partial payments as work is completed, and want to determine which services and customers make the most profitBookkeepers and Accountants who wish to brush up on their skillsAdvance PreparationNoneQuickBooks Online's Projects Center Course DescriptionWhen you work in the trades, QuickBooks® may seem daunting. However, QuickBooks Online's new Projects Center has the tools you need for construction and other project management bookkeeping.Royalwise has designed this class to be specific to construction and project-based jobs. QBO helps with cost accounting, including time & materials contracts, percentage of completion, and at-a-glance profitability reports. We'll cover Estimates, Progress Invoicing, Change orders, taking Deposits, receiving partial Payments, billing for time and materials, and Job Costing.We'll also touch on construction-specific billing issues including Retainage and Work-in-Progress (WIP reporting).Sign up now so you can learn to confidently use the amazing new Projects Center to quickly and easily manage all of your finances and transactions, making it easy to stay organized, run reports, and track your progress.

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