To make an enlightened choice, consider user-friendliness, pivotal features, and the software’s alignment with your business prerequisites. QuickBooks Contractor’s features cater to the unique payroll needs of construction businesses, saving time and reducing the chances of costly payroll errors.īeyond pricing, each variant of QuickBooks has its own advantages and some limitations. QuickBooks Contractor enables you to define and manage different pay rates for your employees, making it easy to pay workers accurately based on their roles and responsibilities.Īdditionally, the software provides tools to track and manage workers’ compensation, helping you ensure that your employees are adequately protected.Įffective payroll management not only simplifies the payment process but also enhances employee satisfaction and reduces compliance risks. This feature simplifies compliance with labor laws and union requirements.Ĭonstruction projects often involve various job positions, each with its own pay rate. QuickBooks Contractor allows you to set up and manage these wage rates, ensuring that your employees are paid according to the prevailing rates for their specific job and location. Prevailing wage rates are common in construction, and they can vary significantly by location and project. QuickBooks Contractor offers robust tools to simplify payroll processes and ensure compliance with industry-specific payroll requirements. It comes with a 12-month free subscription for Remote Access, providing remote connectivity to your QuickBooks data, which can be beneficial depending on your specific needs and access conditions.Įffective payroll management is vital for construction businesses, especially when dealing with varying wage rates and workers’ compensation. These tools allow you to create financial projections, analyze financial strength, compare debt and ownership, manage receivables, track taxes, and more. QuickBooks Contractor offers a Business Plan Tool, Expert Analysis Tool, and various Decision Tools to help you manage your construction business more efficiently.

QuickBooks Contractor is based on the Premier version of QuickBooks, but with additional functionality. It provides a dedicated menu for job-related tasks and various job-specific reports. In addition to standard accounting functions, QuickBooks Contractor has Contractor-specific features like estimating, invoicing, bill management, and employee payment. These built-in features make it easier for novice users to set up their accounting system, thus saving time on initial configuration. It offers a pre-built setup, including a Chart of Accounts, an Items List, and a Class List. QuickBooks Contractor is tailored to meet the requirements of contractors in the construction industry. With these customization features, you can optimize your financial management processes and make more informed decisions based on your specific construction accounting requirements.Ĭheck out this helpful video for a detailed demonstration on how Quickbooks Enterprise Contractor Edition can be used for your business: The ability to tailor QuickBooks Contractor to the needs of your construction business is a testament to its versatility and adaptability. Whether it’s tracking job profitability, project timelines, or cash flow, QuickBooks Contractor’s reporting capabilities can be adjusted to provide the insights that are most relevant to you. This level of customization ensures that you have a clear and detailed view of your financial data, allowing for precise analysis and decision-making.įurthermore, you can customize your financial reports to focus on the key performance indicators that matter most to your construction business. You can categorize costs by job, phase, or category, allowing you to allocate expenses accurately. Moreover, QuickBooks Contractor lets you specify how to track expenses, income, and other financial transactions. It provides detailed templates for various construction segments, such as general contracting, subcontracting, or design-build.

QuickBooks Contractor allows you to define your business type, which serves as the foundation for customizing the software to match your unique needs. Whether managing a residential construction company, a commercial contractor, or a specialty trade business, QuickBooks Contractor’s flexibility allows you to tailor the software to your specific requirements.Ĭustomization begins with your company’s setup. QuickBooks Contractor recognizes this and offers industry-specific features that can be customized to meet the diverse needs of different types of construction businesses. In the dynamic world of construction accounting, one size doesn’t fit all.

Invoicing for contractors