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Quickbooks for Contractors- Why You Need to Use Products & Services
In this episode, Nick Baldo explores the significance of QuickBooks' products and services feature for real estate investors. He elaborates on setting up cost codes, managing multiple transactions, and tracking rehab costs. The episode also discusses linking cost codes to builder trends, separating expenses, and exporting data for external reporting.
Join the Waitlist for Builder Books Academy: https://www.incomedigs.com/bba-wait-list
Enroll to Super VA: https://www.incomedigs.com/sva
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
Download our guide: https://www.incomedigs.com/qbosetupguide
One of the most underutilized features of Quickbooks Online is Products/ Services. In this video, I demonstrate why you MUST be using Products/ Services for your construction business.
(0:00) Introduction and importance of using products and services feature in QuickBooks
(1:07) Detailed explanation of products and services (cost codes) in QuickBooks
(2:06) Why categories aren't enough for detailed tracking and job costing
(7:40) Setting up your list of products and services in QuickBooks
(10:52) Utilizing the products and services feature for detailed tracking and clean profit & loss sheet
(14:15) Detailed use case: managing multiple transactions and rehab costs
(15:20) Linking cost codes to builder trend and utilizing NAHB's list for more detailed cost codes
(16:02) Importance of separating out expenses on materials, labor, and subcontract
(16:25) Exporting data from QuickBooks online for external reporting
(17:10) Sponsor: Baldo Books Academy
(17:20) Closing remarks and invitation for listener's feedback
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By Nick BaldoIn this episode, Nick Baldo explores the significance of QuickBooks' products and services feature for real estate investors. He elaborates on setting up cost codes, managing multiple transactions, and tracking rehab costs. The episode also discusses linking cost codes to builder trends, separating expenses, and exporting data for external reporting.
Join the Waitlist for Builder Books Academy: https://www.incomedigs.com/bba-wait-list
Enroll to Super VA: https://www.incomedigs.com/sva
Enroll to Real Estate Accounting Bootcamp: http://bit.ly/reabcourse (Enter Code YOUTUBE50 for $50 off!)
Download our guide: https://www.incomedigs.com/qbosetupguide
One of the most underutilized features of Quickbooks Online is Products/ Services. In this video, I demonstrate why you MUST be using Products/ Services for your construction business.
(0:00) Introduction and importance of using products and services feature in QuickBooks
(1:07) Detailed explanation of products and services (cost codes) in QuickBooks
(2:06) Why categories aren't enough for detailed tracking and job costing
(7:40) Setting up your list of products and services in QuickBooks
(10:52) Utilizing the products and services feature for detailed tracking and clean profit & loss sheet
(14:15) Detailed use case: managing multiple transactions and rehab costs
(15:20) Linking cost codes to builder trend and utilizing NAHB's list for more detailed cost codes
(16:02) Importance of separating out expenses on materials, labor, and subcontract
(16:25) Exporting data from QuickBooks online for external reporting
(17:10) Sponsor: Baldo Books Academy
(17:20) Closing remarks and invitation for listener's feedback