5 Quick Books Online tools that make job costing easier

As a construction business owner, you know that managing costs is crucial to the success of your projects and overall business. Keeping track of expenses, labor, and materials on a per-project basis can be a complex and time-consuming task, but it is essential to ensure that your business is profitable and sustainable.

This is where QuickBooks Online’s job costing features come in.

If you aren’t familiar with QuickBooks Online, it is a type of cloud-based accounting software that offers a number of tools to help you track and manage expenses, including job costing features designed especially for the building and construction sector.

Table of contents:

• Tracking costs by the project in QuickBooks Online
• Monitoring labor costs in QuickBooks Online
• Managing materials and supplies in QuickBooks Online
• Creating estimates and invoices in QuickBooks Online
• Customized reports in QuickBooks Online

Here’s a closer look at how QuickBooks Online’s job-costing features can help you manage your construction business more effectively:

Track costs by the project:

QuickBooks allows you to assign specific costs to individual projects, making it easy to see how much each project is costing you in real-time. This information is important for keeping track of profits, finding cost overruns, and making decisions about future projects that are well-informed.

Monitor labor costs:

QuickBooks allows you to track labor costs by employee and job, giving you a clear picture of your labor expenses. This can help you figure out where you might be able to save money or work better.

Manage materials and supplies:

QuickBooks lets you track materials and supplies used on each project, so you can see exactly how much you’re spending on materials and make informed decisions about purchasing and inventory management.

Easily create estimates and invoices:

QuickBooks allows you to create detailed estimates and invoices for your projects, making it easy to communicate costs to clients and ensure you’re paid for the work you do.

Customize reports:

QuickBooks has a variety of customizable reports that let you see the big picture of your costs or get into specifics. This can help you identify trends and make informed decisions about your business.

In conclusion, the job-costing options that are available in QuickBooks Online can be a valuable tool for owners of construction companies who want to manage their costs properly. You will be able to improve your business decisions, raise your earnings, and ensure the long-term survival of your company if you keep meticulous records of the expenditures associated with each individual project.