All blog posts on Build Your Numbers
Labor Costs Are a Risky Part of Your Business. Make an Immediate Impact on Your Bottom Line by Heading off Costly Labor Over-runs Before They Get Out of Hand. 7 Ways to Reduce Labor Costs Know and use your true, fully burdened labor costs when estimating. Increase estimating accuracy by using costs based on specific employees (or averages …
Job Costing In QuickBooks QuickBooks is designed to help you plan, measure, and monitor company and job results. You can even use QuickBooks Job Costing Features to Achieve Your Gross Profit Goals! Use its management reporting tools to immediately SEE operating and financial results. Proactively correct problems – before they spin out of control – …
Paying your QuickBooks Bills can be easier (even pain-free!) – when you use your software to its fullest capacity. QuickBooks Pay Bills with a Credit Card Company owners and bookkeepers often use credit cards to pay QuickBooks bills. Those who appreciate the convenience of purchasing items or paying bills using credit cards often ask how …
This post about QuickBooks’ Items is excerpted from our more extensive training video that’s included in our Construction Accounting & Management Program (CAMP). QuickBooks Items: Automating Job Costing for Construction Companies QuickBooks Items enable construction companies to automatically track and report on the financial detail underlying what’s REALLY going on within the financial side of …
One of your early tasks as a payroll administrator or when you convert to QuickBooks Payroll will be to establish payroll schedules in QuickBooks for your employees. Here’s how. Setting Up Payroll Schedules in QuickBooks Payroll administration can be complex and time-consuming. It requires precision and tremendous attention to detail. Because your employees are counting …
Want your company to be more profitable? Almost all business owners are constantly working to make their company more profitable. And that’s a good thing, right? It probably is, as long as you achieve it morally and ethically. But is it worth it? Here Are 12 Benefits of Running a More Profitable Company These benefits …
Bulletproof Accounting for Long Term Business Survival Diane and host of The Best Business Podcast, Daryl Urbanski, reveal proven “success habits” that small and medium-sized business owners can use to leapfrog the competition and thrive. Why this matters to you: In this podcast, Diane delivers some simple (and high-value) startup and accounting system tips that …
This webinar reveals proven strategies and practical tips about pre-construction contracts and agreements – so you can jump-start the success of your construction projects before you commit to taking on a job. Watch this “Pre-Construction Contracts and Agreements” video with Michael (Discover why these contracts and agreements give you a jump-start on upcoming jobs!) …
Jake Reeves (Cloud Productivity Expert – Summit Hosting) joins Diane Gilson to illustrate innovative ways to use “anytime/anywhere” cloud access services. Why this matters to you: You’ll see how “elastic scalability” and “resources-on-demand” can help you collaborate between team members, securely share data and company information, and grow your business. Watch this seminar to see …
Labor Burden: If you’re struggling to understand and measure your Labor Burden and its effect on profit, these articles by Diane Gilson will teach you how to do it. We’ll start with some quick definitions of labor burden and how to calculate it, followed by a real-life example so you can see how it’s done. …
Cybersecurity Best Practices: Protect Your Construction Business from Bad (Digital) Actors Why this matters to you: Although this webinar has a holiday-themed title, every season is “The Season for CyberSecurity” because cybersecurity threats persist year-round. Protecting your financial and operational data isn’t just a technical issue – it’s critical for maintaining trust with your clients and …
Yes, your initial QuickBooks payroll setup can take some time and requires attention to detail. BUT manual payroll processing requires even more work – and you have to do it over – and over – and over… Which sounds like the better choice? QuickBooks Payroll Ask any 10 small and mid-sized business (SMB) bookkeepers and …
What Does a Broken Month-End Close Do To Your Business? Messy financials aren’t just a nuisance — they’re a risk. Every month that ends with guesswork, missing reports, or last-minute scrambles leaves your company flying blind. Learn why getting your books right isn’t optional — and how it impacts your entire team. Let’s be real. …
Here’s our video with Corey Monson – Director of Partnerships at busybusy In this webinar, Corey and I help peel back the curtain on WHY “truth in timekeeping” is so crucial to increasing your company’s earnings! (Hint: It’s critical in finding your company’s accurate labor costs.) You’ll get some new perspectives, unique insights, and a …
Broken database links can cause problems with your QuickBooks data file(s)… QuickBooks® Pro, Premier, and Enterprise Solutions desktop software programs are databases that could (potentially) include broken database links. What and Why? The underlying software (database) for your company file includes your records and transaction fields that are “tied together” with various pointers and links. …
Consider how these labor burden hiring decisions increase (or decrease) profits… Labor Burden Tip #5: Before You Hire, Know the Real Cost of Another Employee Hiring can help your business grow. More people can mean more work completed, faster turnaround, better customer service, and less pressure on your existing team. But here’s the point: adding …
From our Better Numbers – Better Business™ management series… Diane and Ken Horst demonstrate real-life examples of how you can spot common (fixable!) profit leaks so your business can become more effective, more efficient, and more profitable. Why this matters to you: You’ll discover an inexpensive, easy-to-use tool that can help you run the same …
Job Costing – The Difference Between Profitable Construction Companies and Those Who Struggle Unfortunately, in my 25+ years of experience working with construction business owners, one thing has become painfully clear to me. There are two types of construction business owners: Those who are using job costing reports and using them well and Those who …
How Much Are You Losing by NOT Performing Underbilling Calculations for Employee Time? This Free Calculator Helps You Estimate! Underbilling for Employee Labor? Here’s what that’s costing you! Free Calculator that illustrates underbilling calculations… Here’s a free calculator to help you do the math. If you are underbilling for employee labor, use it to discover …
What might you be able to accomplish for your company if you create employer or employee shadowing teams for a couple of hours? Or even a couple of days? Employer or Employee Job Shadowing – Could It Work For YOUR Company? A client recently told me that she wasn’t as pleased with the performance of a couple …
5 Ways to Tailor, Tag, & Track Specialized Information QuickBooks Custom Fields Have you explored the many ways to use Custom Fields in QuickBooks? If not, you’ll likely be surprised at how this feature can vastly expand the “trackability” of specific data that’s unique (and, often, vitally important) to your company. Would it be helpful …
If you haven’t already read them, you’ll probably want to visit Part I, Part II, Part III, and Part IV of this “Tale of 4 Companies: A Job Cost & Gross Profit Drama” before beginning the following “Part V.” We’re joining Paul (owner of Paul’s Perfect Projects LLC), Walt (Production Supervisor at Paul’s), Jenn (Estimator …
When you make it easier for your customers to buy from you – and pay you – two things typically happen: your sales increase, and you get Quickbooks payments faster. That means enhanced cash flow and fewer collection calls. Plus, a side benefit is that customer satisfaction is often higher when goods or services have been …
Targeting Gross Profits: How Estimators and Project Managers Focus on Goals & Job Costs at Paul’s Perfect Projects If you haven’t already read them, you’ll probably want to visit Part I, Part II, and Part III of this “Tale of 4 Companies: A Job Cost & Gross Profit Drama” before beginning the following “Part IV”. As we …
How Bookkeeping Supports Job-Cost & Gross Profit Measurement at Paul’s Perfect Projects, LLC If you haven’t already read them, you’ll probably want to visit Part I and Part II of this “Tale of 4 Companies: A Job-Cost & Gross Profit Drama” before starting the following “Part III.” In Part III, Paul & Dave have just …
Paul (of Paul’s Perfect Projects, LLC) tackles the gross profit problem by showing Dave his Estimate vs. Actual variance reports. (If you haven’t already read it, you’ll want to visit Part 1 of this “Tale of 4 Companies: A Job Cost & Gross Profit Drama” before jumping into the following “Part II”…) Paul’s Approach to …
Can you really affect your gross profit by setting up a job costing system? Is it worth the time, energy, and effort involved to measure and track your numbers? Let’s visit with the owners of four (hypothetical) companies; then decide for yourself which owner’s shoes you’d prefer to step into… As background to the story …
Most small and medium-sized businesses don’t know their exact employee labor cost – or how much they should charge for their employees’ time. Cost of Labor: Why Do You Need Accurate Employee Labor Cost Calculations? I’m going to be bold and state that if you don’t have accurate labor cost calculations for every employee in …
Labor Cost Calculators and QuickBooks Business owners who use QuickBooks or Enterprise accounting software can benefit greatly from the built-in job costing features, such as its ability to assign payroll and payroll tax costs to jobs – but there is one major flaw built into those ‘normal’ job cost reports that you need to know …
Calculating your true cost of labor seems straightforward: compensation plus benefits should equal how much you’re spending on labor, right? Wrong. Unfortunately, business owners don’t have it that easy. There’s much more to determining whether an employee’s time is being put to maximum benefit for a business, and without a true cost of labor that …
The accounting blogs listed below are some of the most reputable and informative online. I wanted to create a quality resource for people seeking any additional accounting advice, so below, you’ll find what I believe to be some of the top accounting blogs. As an endorsement, I’ve created a badge for them to display so …
Learn how to implement a management accounting system – so you can make informed business decisions each day! Did you know there are different types of accountants and accounting viewpoints? Many business owners don’t. There are a handful of different kinds of accounting systems, but the two main kinds are management accounting and financial accounting. …
Are you one of the many small-business owners taking on your own accounting? Let QuickBooks desktop help you like it’s helped millions others. In recent years, many small- and midsize-business owners have been steering away from using trained accountants for their financial needs and, instead, have taken on the responsibility internally – either by doing …
Job cost reporting can reveal the true costs and profits for each job as they happen, allowing you to fix issues before they cost you. Are you keeping a close eye on your materials costs, ‘shopping’ for the best deals on equipment, and managing employees so that they are making more money than they actually …
Learn how job cost accounting can help small-business owners take control over each job and their profits through cost and profit analysis. As a small-business owner, one of the best ways you can track the real progress of your business is through job cost accounting. In other words, if you keep track of your income …
Calculating overhead can be tricky, but QuickBooks can help you calculate and monitor your business overhead expenses more efficiently and effectively. Business Overhead Expenses: What They Are and How To Calculate Them Have you ever wondered exactly WHAT business overhead expenses really ARE? Do you know what YOUR business overhead expenses are? Or how to …
Let BuildYourNumbers.com explain why you should use QuickBooks-compatible inventory software to integrate and streamline your systems. Do you have an inventory? If so, how do you keep track of that inventory? Whether you’re already using inventory accounting software or keeping track of your inventory through lists, spreadsheets, or year-end adjustments, I’m about to show you …
Learn how inventory software can help your small business save time and money over the long term. Small-business owners have to keep track of their inventory just like all other businesses, but with fewer resources available to them. You could try to track inventory by keeping a list in a notebook or on a spreadsheet, …
Keeping tracks of hours, union wages, social security, & workers comp can be difficult. Let specific construction payroll software help. If you run a remodeling or construction company with employees, you know that those employees are an essential element of your business. How else would you get client jobs completed for clients in a timely …
Have you ever wondered how financial & accounting software could benefit your business? Learn to manage your own finances with QuickBooks… Every business faces the challenges associated with accounting. But for mid-sized and small businesses especially, the challenges associated with managing money can mean the difference between success and failure. As a small-business owner, you …
Choosing an accounting system for your small business? Read about the flexibility, usability, and comprehensive features included in QuickBooks desktop software. As a small (or mid-sized) business owner, you’re faced with multiple options when it comes to choosing the best business accounting system for your company. You’ve probably even searched online for small-business financial accounting …
Yes, you may believe that job costing is a challenging facet of construction accounting! But with the right training and customization, you can easily master QuickBooks to achieve your goals! Why Construction Job Costing Matters Contractors and manufacturers must be able to accurately predict, record, and control the cost of each job. You’ll need to …
How to change a date on a QuickBooks transaction Changing a date on a QuickBooks transaction is an easy task. Simply click the date field in the transaction, then choose the correct date from the calendar that pops up. But wait, before you change the date on a transaction, you need to consider a much …
If you’re struggling to understand or measure your labor burden and its effect on profit, let BuildYourNumbers.com help you with our job cost and accounting tutorials. Labor Burden & Profits: Connect the Dots! Got employees? If so… What’s it cost to put them “into the field”? What should you be charging for their time? Should …
This article by BuildYourNumbers.com will teach you more about what you need to know about labor burden and its effect on profit. What exactly is it? How Does it Impact My Business? “Do my employees really cost this much?” While you probably have a good handle on your employees’ hourly wage or salary costs, and know …
QuickBooks & Enterprise Solutions are, generally speaking, stable, logical, and powerful programs.
When something isn't working properly, however, it's very easy to lose perspective and get upset or angry with the software.
This article by Dan Rooks describes the various kinds of accountants and their roles. Info Plus President, Diane Gilson, contributed some thoughts and background information. Dan is co-founder and CEO of Decisive Systems, Inc., a software company that measures the operating cost of heavy equipment. Besides creating “Tools to make smart machine owners smarter”, DSI also …
Month-End Closing Workflow: Why It Matters (More Than You Think) A strong month-end closing workflow helps you Catch missing costs Protect profit, and Make decisions based on numbers you can trust The story… A bookkeeper closes the month and the numbers look fine. A week later, a $15,000 flooring bill shows up. At that point, …
Knowing how to calculate and interpret your Gross Profit percentage (margin) helps keep your profits high and your costs low. Learn how today… What is Gross Profit Percentage? Gross Profit percentage is a measure of profitability that shows your percentage of earnings AFTER you subtract the cost of “producing” those products or services. However, that …
Manufacturing Overhead Costs To calculate Manufacturing Overhead by Job, be sure to include both manufacturing direct labor costs and manufacturing overhead labor costs. How To Calculate Labor Cost One key in calculating the labor cost portion of your manufacturing overhead is understanding the difference between manufacturing direct labor costs and manufacturing overhead labor. Which of …