Learn job costing in QuickBooks from a CPA – Create estimates, run job costing reports, track inventory parts, & more
⏱️ Length: 10.7 total hours
⭐ 4.36/5 rating
👥 42,769 students
🔄 September 2022 update
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- Course Overview
- This course meticulously guides you through establishing and optimizing a robust job costing system directly within QuickBooks Desktop, essential for contractors and project-based businesses.
- Uncover the critical insights derived from accurately tracking project revenues and expenses, empowering you to make informed decisions that significantly enhance profitability.
- Led by an experienced CPA, the curriculum transcends basic data entry, focusing on strategic application and best practices for comprehensive financial control over your jobs.
- Designed for practical implementation, this program ensures you gain not just theoretical knowledge but also actionable strategies to manage complex project finances efficiently.
- Explore how to leverage QuickBooks Desktop’s powerful features to monitor job performance in real-time, moving beyond guesswork to data-driven operational excellence.
- Understand the fundamental connection between meticulous job costing and sustainable business growth, ensuring every project contributes positively to your bottom line.
- Navigate the intricacies of job-specific financial reporting, transforming raw data into clear, concise, and actionable intelligence for your business.
- Learn to structure your QuickBooks company file to support efficient job costing, from initial setup considerations to ongoing maintenance workflows.
- Gain clarity on differentiating direct and indirect costs, effectively allocating resources, and accurately assessing the true cost of completing a project.
- This course provides a complete framework for integrating job costing into your daily operations, making it an indispensable part of your financial management toolkit.
- Requirements / Prerequisites
- Basic operational familiarity with QuickBooks Desktop is recommended, ensuring you can navigate the software’s interface and fundamental functions comfortably.
- A foundational understanding of general accounting principles, such as revenues, expenses, assets, and liabilities, will provide valuable context for job costing concepts.
- Access to QuickBooks Desktop software (any recent version) is essential for hands-on practice, allowing you to apply the learned techniques immediately.
- A commitment to improving project financial management and a desire to maximize profitability for your construction or service-based business.
- No prior advanced job costing experience is required, as the course systematically builds your knowledge from foundational concepts to advanced applications.
- Skills Covered / Tools Used
- Mastering the setup of customer profiles and sub-jobs for hierarchical project organization within QuickBooks Desktop.
- Proficiency in managing vendor bills and purchase orders, ensuring all project-related expenditures are accurately tagged and allocated.
- Developing expertise in structuring your Chart of Accounts to effectively capture and categorize job-specific income and expenses.
- Skills in customizing QuickBooks preferences and settings to optimize your company file for streamlined and efficient job costing workflows.
- Ability to interpret and act upon key performance indicators (KPIs) presented in job costing reports, driving strategic business decisions.
- Competency in utilizing QuickBooks payroll functionalities (if applicable) to assign labor costs directly to specific jobs for accurate overhead calculation.
- Techniques for reconciling job-related accounts to ensure data integrity and financial accuracy across all project ledgers.
- Strategies for utilizing QuickBooks classes beyond basic job costing, for deeper analysis of departments or different types of projects.
- Effective management of change orders and additional services within the existing job costing framework to maintain accurate project budgets.
- Employing QuickBooks’ robust reporting engine to generate custom reports tailored to specific management information needs for various stakeholders.
- Benefits / Outcomes
- Achieve superior project profitability by accurately identifying and controlling every cost component associated with your jobs.
- Gain the ability to generate highly precise bids and estimates, significantly improving your success rate and avoiding underpricing or overpricing.
- Transform raw financial data into clear, actionable intelligence, enabling you to make proactive and strategic business decisions for future projects.
- Streamline your entire financial workflow for project management, reducing administrative burden and freeing up valuable time.
- Cultivate confidence in your ability to manage complex project finances, becoming an indispensable asset to your organization or client base.
- Minimize financial surprises and cost overruns by continuously monitoring job progress against budgeted expenses and revenues.
- Enhance transparency in project accounting, fostering better communication with clients, subcontractors, and internal teams regarding financial performance.
- Position your business for sustained growth by implementing financial controls that ensure every project contributes positively to overall financial health.
- Develop a professional-grade understanding of job costing principles and their practical application within the industry-standard QuickBooks Desktop software.
- PROS
- Expert CPA Instruction: Learn directly from a certified public accountant, ensuring high-quality, accurate, and practical insights grounded in real-world experience.
- Highly Rated & Popular: Join over 42,000 satisfied students with a 4.36/5 rating, indicative of the course’s effectiveness and student success.
- Practical & Actionable: Focuses on immediate application within QuickBooks Desktop, allowing you to implement learned strategies in your business right away.
- Comprehensive Coverage: Delves deeply into job costing methodologies, ensuring a thorough understanding of various approaches applicable to diverse business models.
- Up-to-Date Content: Recently updated in September 2022, guaranteeing relevance with current QuickBooks Desktop features and best practices.
- Time-Efficient Learning: At 10.7 hours, the course is structured to be comprehensive yet digestible, fitting into busy professional schedules effectively.
- CONS
- Platform Specific: The course content is exclusively tailored for QuickBooks Desktop, meaning it may not be suitable for users of QuickBooks Online or other accounting software.
Learning Tracks: English,Office Productivity,Other Office Productivity