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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
QuickBooks for Contractors summary
Brief summary
QuickBooks for Contractors provides essential strategies for setting up and using QuickBooks to effectively manage construction projects. It covers job costing, progress invoicing, and other contractor-specific features.
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Table of Contents
QuickBooks for Contractors
Summary of key ideas
Understanding QuickBooks for Contractors
In QuickBooks for Contractors by Craig M Kershaw, we delve into the world of accounting software and its application in the construction industry. The book begins with an introduction to QuickBooks, explaining its features and how it can be tailored to suit the specific needs of contractors. Kershaw emphasizes the importance of setting up the software correctly from the start, ensuring that it captures all the necessary data for accurate financial reporting.
One of the key areas covered in the book is job costing. Kershaw explains how to set up jobs in QuickBooks, allocate costs to specific jobs, and generate reports that show the profitability of each job. He also discusses the use of estimates and progress invoicing, showing how contractors can track their estimated costs against actual costs and bill their clients accordingly.
Advanced Features and Customization
As we progress through QuickBooks for Contractors, Kershaw delves into more advanced features of QuickBooks. He explains how to set up and track subcontractors, manage payroll, and handle equipment costs. The author also provides valuable insights into using QuickBooks for inventory management, a critical aspect for construction companies that need to track materials and supplies across multiple job sites.
One of the highlights of the book is Kershaw's discussion on customizing QuickBooks reports. He demonstrates how contractors can create specialized reports that provide insights into their business performance, such as job profitability, overhead allocation, and cash flow analysis. These customized reports, Kershaw argues, are essential for making informed business decisions and identifying areas for improvement.
Compliance and Financial Management
Compliance and financial management are crucial aspects of any business, and Kershaw dedicates a significant portion of the book to these topics. He explains how contractors can use QuickBooks to stay compliant with tax regulations, manage their cash flow effectively, and monitor their financial health. Kershaw also provides tips on streamlining the accounting process to save time and reduce errors.
Throughout the book, Kershaw emphasizes the importance of accurate and timely financial information for contractors. He argues that QuickBooks, when used correctly, can be a powerful tool for achieving this goal. By the end of the book, readers gain a comprehensive understanding of how to leverage QuickBooks to manage their construction business efficiently and profitably.
Conclusion and Practical Application
In conclusion, QuickBooks for Contractors by Craig M Kershaw is a comprehensive guide that bridges the gap between accounting software and the unique needs of the construction industry. The book provides practical, step-by-step instructions on setting up and using QuickBooks for job costing, invoicing, payroll, and financial reporting. It also offers valuable insights into customizing the software to suit the specific requirements of contractors.
Overall, Kershaw's book is an invaluable resource for contractors looking to streamline their accounting processes, improve their financial management, and ultimately, enhance their business performance. By understanding and applying the principles outlined in QuickBooks for Contractors, readers can harness the full potential of QuickBooks to drive success in their construction ventures.
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What is QuickBooks for Contractors about?
'QuickBooks for Contractors' by Craig M Kershaw is a comprehensive guide designed specifically for construction professionals. It provides step-by-step instructions on how to set up and use QuickBooks for tracking job costs, managing projects, and staying organized with financial tasks. With real-world examples and expert tips, the book aims to help contractors streamline their accounting processes and make informed financial decisions.
QuickBooks for Contractors Review
QuickBooks for Contractors by Craig M. Kershaw (2019) is an essential read for contractors looking to streamline their accounting processes. Here's why this book is worth your time:
- Packed with practical tips, it provides contractors with the knowledge and tools they need to effectively manage their finances and maximize profitability.
- Combining expert advice with real-world examples, the book offers a clear understanding of how to utilize QuickBooks to its full potential for accurate financial reporting and analysis.
- Craig M. Kershaw's accessible writing style makes even the most complex accounting concepts easy to grasp, ensuring that the book is engaging and far from boring.
Who should read QuickBooks for Contractors?
- Contractors looking to streamline their accounting processes
- Construction business owners who want to better understand their financials
- Accounting professionals working with construction companies
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QuickBooks for Contractors FAQs
What is the main message of QuickBooks for Contractors?
Track your finances efficiently with QuickBooks for Contractors.
How long does it take to read QuickBooks for Contractors?
The reading time for QuickBooks for Contractors varies, but the Blinkist summary can be read in no time.
Is QuickBooks for Contractors a good book? Is it worth reading?
QuickBooks for Contractors is worth reading as it offers valuable insights for managing finances in the contracting business.
Who is the author of QuickBooks for Contractors?
The author of QuickBooks for Contractors is Craig M Kershaw.
What to read after QuickBooks for Contractors?
If you're wondering what to read next after QuickBooks for Contractors, here are some recommendations we suggest:
- Basic Economics by Thomas Sowell
- The Ascent of Money by Niall Ferguson
- Think and Grow Rich by Napoleon Hill
- The 4-Hour Workweek by Tim Ferriss
- Rich Dad, Poor Dad by Robert T. Kiyosaki
- Secrets of the Millionaire Mind by T. Harv Eker
- The Richest Man in Babylon by George S. Clason
- Business Adventures by John Brooks
- The Most Important Thing by Howard Marks
- More Money Than God by Sebastian Mallaby
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