Without proper tracking and matching of income and expenses, you'll never know if you made a profit until the job ends. With long business cycles and huge construction expenditures, most land developers like you feel there is never enough money to cover the costs.
The chaos of your day-to-day operations, economic change, compliance issues, new regulations, natural disasters, and several other factors that are beyond your control are potential risks to your business.
Start building a process-dependent system, take this course, and set up your QuickBooks Desktop account to work for your Land Development and Spec Home Builder Company.
Construction Accounting Vs. Regular Accounting
Learn the necessary principles particular to your industry and the importance of understanding the difference between other types of accounting.
Assign Costs To A Particular Job
Gain a better understanding of costs using the LMOS™ (Labor, Material, Other Costs, and Subcontractors) system and better handle Job Costing and Job Profitability for your land development and spec home-building company.
Analyze Work-In-Progress Reports
Unforeseen cash flow issues can lead to construction delays and business and personal bankruptcy. Take advantage of the WIP schedule to keep track of your projects and the percentage of completion.
Discover insightful lessons with each module, gain actionable tips for your bookkeeping processes, and pick up strategies to overcome the challenges of keeping your accounts up to date.