Learn job costing in QuickBooks from a CPA – Create estimates, run job costing reports, track inventory parts, & more
β±οΈ Length: 10.7 total hours
β 4.36/5 rating
π₯ 42,973 students
π September 2022 update
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- Course Overview
- This intensive 10.7-hour program serves as a definitive guide for mastering the specialized field of project-based accounting using the QuickBooks Desktop platform, specifically curated for the construction and service sectors.
- The curriculum is meticulously designed by a Certified Public Accountant (CPA), ensuring that every lesson is grounded in professional accounting standards and real-world fiscal logic rather than just software navigation.
- Students will explore the architectural framework of QuickBooks, learning how to shift from basic general ledger accounting to a nuanced, project-centric approach that tracks every penny spent on specific contracts.
- The course provides a holistic view of the job costing cycle, beginning with the initial client handshake and estimate phase, moving through production and expense tracking, and concluding with final profitability analysis.
- By focusing on the Desktop version of the software, the instruction leverages high-level features like advanced reporting and inventory assemblies that are often more robust than their cloud-based counterparts.
- Participants will learn the pedagogical importance of matching principles, ensuring that costs are recorded in the same period as the related revenue to give a true reflection of business health.
- Through detailed screen-sharing sessions, the course demystifies the Job Center interface, making it accessible for business owners who may not have a formal background in finance or bookkeeping.
- Requirements / Prerequisites
- A functional installation of QuickBooks Desktop (Pro, Premier, Enterprise, or the Accountant edition) is necessary to follow the hands-on demonstrations and practice exercises provided.
- A foundational understanding of bookkeeping basics, such as the difference between assets and liabilities, is helpful for grasping the more advanced job costing concepts introduced mid-way through the course.
- Participants should have access to a PC running Windows, as the QuickBooks Desktop interface discussed is the native Windows version, which differs significantly from the Mac version.
- A basic comfort level with navigating business software and managing digital files is expected, as the course involves importing data and generating complex PDF reports.
- There is no requirement for prior Job Costing experience; the instructor builds the curriculum from the ground up, starting with simple configurations before moving to complex labor burden calculations.
- Skills Covered / Tools Used
- Mastering Estimates: Learn to create professional, detailed quotes that serve as the budgetary “North Star” for your projects, allowing for precise variance analysis later.
- The Art of Progress Invoicing: Discover how to bill clients based on specific milestones or percentages of completion, a vital skill for maintaining steady cash flow during long-term projects.
- Inventory Assemblies & Parts: Utilize the Inventory Center to track raw materials and combine them into finished assemblies, ensuring that material costs are accurately moved from the balance sheet to the job cost.
- Labor Burden Allocation: Gain the technical skill to allocate payroll taxes, benefits, and insurance costs back to specific jobs, providing a more accurate picture of true labor expenses.
- Purchase Order Workflow: Implement a structured procurement system where purchase orders are linked directly to jobs, preventing unbilled expenses from slipping through the cracks.
- Change Order Management: Learn the specific workflow for documenting project scope creep within QuickBooks, ensuring that additional work is always authorized and billed correctly.
- Advanced Job Costing Reports: Master the generation of Job Estimates vs. Actuals reports, which highlight exactly where a project went over budget and why.
- Class Tracking Integration: Use the Class feature in conjunction with job costing to categorize income and expenses by department, location, or project type for multi-dimensional reporting.
- WIP (Work in Process) Adjustments: Understand how to handle year-end or month-end adjustments for projects that are still active, keeping your financial statements accurate for tax purposes.
- Benefits / Outcomes
- Precision in Bidding: By analyzing historical job data, you will gain the ability to create more competitive and profitable bids, reducing the risk of underpricing your valuable services.
- Elimination of Revenue Leakage: The systematic tracking taught in this course ensures that every nut, bolt, and labor hour is billed to the client, maximizing your bottom-line profit.
- CPA-Ready Books: You will emerge with the skills to maintain a set of books that are so organized and compliant that they significantly reduce the time and cost associated with annual tax preparation.
- Enhanced Business Intelligence: Gain the clarity to decide which types of jobs are most profitable for your company, allowing you to pivot your marketing efforts toward the highest-margin work.
- Real-Time Financial Monitoring: Instead of waiting until the end of a project to see if you made money, you will learn to monitor real-time profitability through the course of the job.
- Professional Client Relations: Deliver clear, accurate, and professional documentationβfrom the first estimate to the final invoiceβimproving your brandβs reputation and client trust.
- Optimized Resource Allocation: Better understand your labor and material needs, allowing for smarter scheduling and more efficient warehouse management.
- PROS
- Expertise of a CPA: The course is led by a qualified accountant, providing a level of professional depth and accuracy that non-specialist instructors cannot offer.
- Massive Enrollment Base: With over 42,000 students, the course materials have been refined based on a vast amount of user feedback and common industry questions.
- Long-Form Mastery: The 10.7-hour duration ensures that topics are covered in exhaustive detail, leaving no stone unturned regarding the complexities of Desktop job costing.
- Updated Content: The curriculum includes recent updates, ensuring that the features discussed remain relevant to the modern versions of the QuickBooks Desktop ecosystem.
- CONS
- Platform Limitation: This course is strictly focused on the Desktop version of the software; users who have migrated to QuickBooks Online will find the interface and feature set entirely different and inapplicable to their platform.
Learning Tracks: English,Office Productivity,Other Office Productivity
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