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Old 02-23-2017, 03:23 AM
gssmauna gssmauna is offline
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Join Date: Feb 2017
Posts: 6
Red face How to fix a system? How to job cost?

Hello Everyone - I'm new here and am SO happy to have found this website!

I have recently been given the exciting task of redirecting our Quickbooks.

We use Premiere Contractor Edition. I work with an electrical contractor. The owners set up their QB early on with out much knowledge of the system. Accounting has been 90% but there is no way to job cost, find accurate breakeven, and the chart of accounts is a little messy.

We are starting to heavy analyze the company, so all the holes are starting to appear.

I'm open to advice and feel free to ask questions if I'm not clear enough.

On the chart of accounts - what would a perfect one look like? I don't have very much accounting/tax experience, so I don't know the limits of a COA. I need to be able to see out breakeven, so wages for our office staff and owners needs to be a different account than our techs - related: I assume for BE payroll taxes would need to be separated between office staff, owners, and tech. I feel in some areas we have similar (duplicate purpose) accounts and in some areas not enough accounts.

The bigger mission. Job Costing. I am incredibly excited to get this rolling - currently between job costing, time entry, material tracking, profitability, etc, we are using 5-10 excels plus 3-4 systems, and there are cracks everywhere. Our guys travel to the customer, do work, paperwork is turned in, then I invoice - for a basic view of our flow.
- For material tracking, advice, would you enter all vendor invoices that show up on the website, then go back and edit the entry once you get updated numbers from the tech? Or would you wait for tech to turn in paperwork to enter it in to the system accurately the first time, only to find missing vendor invoices later? Neither seems ideal.
- For contract work, say I want to make a line item on a invoice that just says basically - Total Price of Work Complete - $1000. Later, when it comes to accounting, how does differentiate between how much of that was labor and how much should be material - harder, what if some of it is complete profit? This problem caused me nightmares last year with trying to figure out our breakeven.
- If I have an inventory account, if I put a line item of "all material - 200", is there any way to show the system that 40 of that was inventory, with 160 coming from a vendor? Or would our invoices to our customer need to start being more detailed, just so we have the information accurately in our system? I'm hoping we can still have very basic invoicing, with high details in the background of our system - but it doesn't seem like the two can happen simultaneously.

Thank you so much for your help!
<3 M
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