Bookkeeping · 5 min read
QuickBooks for Contractors: Setup Guide
QuickBooks for contractors can help construction businesses track income, expenses, jobs, invoices, payroll, subcontractors, and profitability. But it must be set up correctly.
Details
A contractor’s QuickBooks setup should include:
- Construction-specific chart of accounts
- Customer and job tracking
- Classes or projects
- Labor cost tracking
- Materials tracking
- Subcontractor payments
- Equipment expenses
- Progress invoicing
- Payroll integration
- Retainage tracking
- Job profitability reports
Details
Contractors should avoid mixing all revenue and expenses into general categories. The goal is to see profit by job.
