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Transfer Credits Between Jobs – NEW 2019 QBDT Feature

I’m a little let down by the lack of new features in QuickBooks Desktop 2019, but there is one that is really exciting and LONG overdue – the ability to transfer credits between different jobs. You may or may not have had to deal with this, but for those who have, it’s been a real…

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Assigning Overhead to Job Cost Reports – Don’t Do It!

One of the most common questions I get is “How can I assign overhead costs to jobs on my job cost reports?”. Some of my colleagues have presented methods for doing this, and in rare cases it’s possible to come up with something that works, but MY answer is always “You don’t”. Why It Doesn’t…

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Why Focusing Only On Job Cost Reports is a BIG Mistake

Don’t get me wrong, your Job Cost Reports provide you with absolutely critical information about all kinds of things: cost overruns, where you are at on the job as far as completion, and how well you estimated the job and a host of other things. These reports are what Contractors tend to focus on because…

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Contractors – Why your Profit and Loss Report Makes No Sense And How to Fix it

Have you ever gotten to the end of a big job and suddenly found yourself in a major cash flow crunch? Are you frustrated because when you look at your Profit and Loss report it makes NO SENSE? There’s a very good reason for this and it’s not your analytical skills: In the contracting business,…

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Margin vs. Mark up for Contractors

I got a GREAT question from a client today: “Should I use Margin or Mark up?” If you google margin vs. mark up, there’s a ton of information about what the calculations are and what they mean, but that doesn’t necessarily explain how it applies to your business or industry and what it means to…

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