• support@quickbookstechies.com

QuickBooks

Construction Accounting: Learn From the Common Mistakes of Construction Companies 1000 667 Quickbookstechies

Construction Accounting: Learn From the Common Mistakes of Construction Companies

Construction Accounting: Learn From the Common Mistakes of Construction Companies

Ever made a mistake that bothered your business results?

It’s alright. Everybody does that. It would cause you no harm if you add cornflakes to the bottle of milk. But it is not okay if you make a serious mistake that can disturb your construction business with major losses.

So, let’s straight away dive into the top common mistakes that construction business owners do and how to come out clean.

Organized management serves the best

Ask yourself if you have organized your business well and if not, you are going to be in long time trouble. Construction accounting basics could be a difficult chapter to read when you have just started your business. Especially working on accounting for a construction company could be a tough road if you have never taken it in the past.

Accounting for the construction industry could be an eye-opener for construction business owners. So, if you are serious about making things work and stop doing mistakes in accounting for construction business you must keep everything organized.

That said working alone with no experience will lead you to the troubled waters and there are chances that you might end up with losses. When you know nothing about accounting for the construction industry, it is always better to work with a professional who is an expert in construction accounting. This will for sure help you with your business accounting and fetch your desired results.

Unexpected job costs

You must have heard of the accrual accounting that includes accounts payable and accounts receivables. We all know what the theory says. This not just bothers construction accounting basics but can also hit the non-construction companies. It is usually the result of the missed out costs that are incurred at the time of reporting.

This calls for maintaining a proper record of the vouchers of all the costs noted as liabilities; this will help you dodge the accounting mistakes. Once the vouchers are recorded correctly they can be matched with the accounts payable records.

Vague job overhead

Most of construction business owners make use of overhead rate to allocate their indirect costs to individuals and their jobs. This considers a %age that is multiplied by the direct labor or material cost whichever required. Also, the direct labor costs do not consider a few variables accounted for.

It is important to determine the overhead rate carefully to make sure if it exactly represents overhead costs or not. It will allow you to run through both under and overhead costs.

This error can easily be avoided by making sure you revisit the rates regularly. This will not only ensure the correct usage of the rates and also the usage of the right and appropriate method. Depending upon the labor, material, and costs of the business, accounting for construction projects must be done with appropriate methods.

No track of lost contracts

Most of the contractors make use of a percentage of completion technique which is used to define the revenue. An error usually occurs while using this technique; multiplied by the amount of contract and it does not even consider if that particular job is revenue or loss.

This is when most of the contractors search for “how to do accounting for construction business”. Usually, most of the accounting principles need a complete loss contract when the loss is determined.

If you are monitoring all the records of the total job revenue, you are going to save your business. And, when you have calculated the exact loss, it will be easy to determine the accrual for the loss.

Inappropriate recognition of joint venture operations

Accounting for the construction industry can be startling because the joint venture operations are majorly misunderstood. This is one of the reasons to use the right accounting for a construction company to track the exact records for the business. Construction accounting goes best when QuickBooks comes to the rescue.

QuickBooks is one such software that helps every business understand their accounting needs. This is because accounting for a construction business is never easy. To keep them free from the accounting errors it is important to seek advice from the professionals accounting experts.  Using QuickBooks can be complicated as well but if there is QuickBooks, there is QuickBooks support as well.

Construction accounting with QuickBooks

Construction accounting software, QuickBooks work for you as and when you want. It doesn’t ask you to be at a particular place. No matter you are at site or office, all you need to have is the QuickBooks software. You can choose from the various available options like QuickBooks Plus ($35/mo) and QuickBooks Advanced ($60/mo). Is there something better than cloud-based construction accounting?

Here’s what it would do for your construction business:

Job costs management

It will be easier for the users to track expenses and time for every project. You can also fetch job costs reports that help you analyze your business whenever you want.

Automated construction accounting

If you hate dealing with papers, QuickBooks has got you. Excluding all your manual construction accounting problems, you can easily rely on QuickBooks for accounting and bookkeeping.

Managing Contractors

While doing business, saving time is the most important thing anyone would want. That’s what QuickBooks does for you. Saving time for all 1099s and if you are a sub-contractor, you can add their tax ID and W9 information on sending a request.

Easy tax preparation

Income and expenses can easily be organized into tax categories. You can easily import and export your tax documents.

The verdict

QuickBooks is easy to use be it from work or home but if not known well, it can complicate things more than you expect them to be. If you are dealing with this already it is alright but doesn’t make it for long. Reach QuickBooks online support and get a solution to all your problems in no time.

We deal with all types of QuickBooks errors and even if you stuck in the downloads we have got you. We never allow you to struggle with your business accounting and bookkeeping. So, when you search for “how to do accounting for construction business” look for QuickBooks software and when you are mad at QuickBooks for troubling you, we are just a call away.

5 Reasons Why Do We Need Accounting Software? 810 456 Quickbookstechies

5 Reasons Why Do We Need Accounting Software?

5 Reasons Why Do We Need Accounting Software?

What is your pick?

Performing all the accounting tasks by yourself or a digital bookkeeping all your records?

Well, it is quite common that almost every business is picking accounting software for maintaining their books of accounts. There is no denying the fact that it is much easier than traditional books. But, even today, there are businesses that are using the same old books due to the unfamiliarity with digital books. Still wondering why accounting software is a business need?

Read below the 5 major reasons that would answer your question:

1.  Automation of superfluous tasks

Have you been using QuickBooks lately?

Not yet?

Data entry is a time-consuming task. If not given enough hours a day, you might end up messing up your sheets which is definitely not what you want.

This is the reason businesses uses QuickBooks; the most sorted accounting software used by the U.S. population.  It has made businesses simpler than ever by simplifying the clients’ data entry into the books that are of course digital. QuickBooks is known for simplifying businesses.

When you introduced QB with all the data, it will make sure you do not skip an important task and don’t make a blunder at work. When it comes to collecting payments, it reminds you of doing the same and makes sure you do not miss a payment from a client who was probably long-held. It will also reduce the chances of you making manual errors that you might have been doing in your books offline. Isn’t that amazing?

But who knows, a bug might offer you sleepless nights.

That is when QuickBooks online support comes into the business. Our subject-matter experts take care of your business by offering the best customer support service for QuickBooks.

2. Taxes are now sorted

Tired of sending repeated calls to your Accounts Manager when tax season is around the corner?

It’s over now.

DIY!

Yes, Do It Yourself. You must have seen businesses filing taxes for their business (and you are jealous of them secretly?). It’s over for ages.

With having a digital accounts book like QuickBooks you can file your taxes and there is totally no need of counting on an Accounts Manager. Compiling, importing, and exporting documents are not a trick anymore. QuickBooks is one such software that compiles your data and allows the potential errors to vanish completely. This is one of the major reasons why people are trusting more and more on digital software.

Complications might arise someday but it is okay, you can always count on the experts at QuickBooks online support number.

3. No more math calculations

Are you scared of Math calculations?

Well, that won’t bother your business anymore. Even if you know mathematical tricks, you can commit errors sometimes. That’s where accounting software would help you with perfect calculations.

Remember the day when you were supposed to cut Amelia’s salary to half but you did that to Andrej?

You put your reputation on stake, didn’t you?

Why do it all alone with countless struggles when you have software. Similar to that is QuickBooks that offers you the best help with or without Math knowledge. Even if you need help, you can simply dial the QuickBooks online support number and you will get instant support if you are already using the software and facing any error in the same.

4. Accessible to everyone

The good thing about QuickBooks is on the cloud as well. That means anyone with an internet connection can use it well. If your company is operating in different countries, the members can access all the data in the software from anywhere in the world.

Isn’t that amazing?

The ability to access all your documents on-the-go with your mobile, tablet, and laptop is something that QuickBooks offers you. Cloud computing by QuickBooks can sometimes bother you a bit but experts are always there to help you. All you have to do is to call at the QuickBooks support phone number.

5.  Lesser cost involved

Data entry everyday is definitely a task of eating up your mind and also offering you prices that eat your pockets. How much are you paying to the accountant?

On the other hand, using accounting software like QuickBooks would help you do your everyday tasks better.

So, which one do you choose?

Allowing the offline books to eat up your mind or focusing on business while QuickBooks does the accounting. The choice is yours. There are many businesses still working on offline books and making potential errors that are definitely hampering their business. Also, there are businesses that are using QuickBooks as their accounting software to make sure they focus more on their business and let the technology work for them. They rely on experts. Whenever they are in trouble, they speak to professionals by hitting their QuickBooks online support phone number.

The Verdict

Are you still wondering why you must switch to accounting software?

Well, it’s time to turn your business and take it to the heights of success. Using offline books for accounting could be time-consuming and you have to dedicate yourself to the books to make sure that you do not miss an entry or any single record. On the other hand, if you use accounting software, your daily tasks are much easier and you can put your time into your business.

So, what’s your pick: QuickBooks or no QuickBooks?

New Updates and Features Alert! QuickBooks Online in June 2019 800 450 Quickbookstechies

New Updates and Features Alert! QuickBooks Online in June 2019

New Updates and Features Alert! QuickBooks Online in June 2019

To talk of transformations, let us talk about the newest updates and features of QuickBooks Online. What else is up with a transformation?

Well, that is your business.

That said Intuit has made June, the month of transformation that will help you grow your business as well. To make your tax journey more fruitful and streamline your business workflow, the software has come up with the new and updated features in 2019. If you wish to get the information regarding the new updates, you can contact our experts at our QuickBooks Online support number.

New June Updates 2019: Receipt Capture

Saving your time, this new update will also facilitate the tax time for you. Some individuals believe that tax season is the time when you have all your receipts crinkled up. That is what the new update is going to change.

Now, you would be a snap away to make a record of all your receipts. Whatever receipt you snap-up, it will be saved in your QuickBooks account and will be organized automatically when you need them for the upcoming tax season.

Looking forward to knowing how you can work upon it?

Reach QuickBooks Online support or read further.

The Process

First of all, you have to add the snaps to your QuickBooks Online account with the below process:

  1. Snap the receipt and add it to your account directly.
  2. Upload, drag, and drop.
  3. Forward it through an email.

If you are planning to do the same through an email and doesn’t have one, follow the below:

Register your favorite email by hitting the banking tab. You can always rely on QuickBooks Online support to get all the answers to your questions.

Even if you upload all the snaps in a different way from the other, it will go to the same place and will be organized.

Receipts > Banking

When you add them with whatever way you choose, it will be categorized in the place where you all your receipts. They will themselves be matched with the similar transactions you want. You do not have to do that manually, it will be updated automatically without a single piece of hustle.

Track Details in Contractor Payments

When you are into your small business, it is always said that baby steps lead to a bigger destiny. The updated Contractor payments will allow you to not just pay the contractors but you can also track all the details in one step.

The Process

To speak of how it processes, it is simpler than ever before. Contractor payments will work the same way as before.

When you would enter the payment details, a drop-down with all the traceable information will pop up so that you are able to track the necessary information like class, location, and project.

When you pay, you will be able to see all the traceable details so you never have to watch through the expenses after much later after the duration.

If you find it tricky, you can always count upon our QuickBooks Online support number and all the necessary information is right in front.

The Must Know Tips to Tax Deductions if You are Self-Employed 800 500 Quickbookstechies

The Must Know Tips to Tax Deductions if You are Self-Employed

The Must Know Tips to Tax Deductions if You are Self-Employed

When you are self-employed, the biggest concern any person would have is the Tax Payment.

Ever thought about the tax deductions?

Well, this is something you could never think off of.

If you are a W-2 employee, filling tax can surely be a task of great hustle. But, when you are working for yourself, the intricacies of paperwork and getting done with the tax formalities can be nail-biting. No matter if it is your first time or 21st, some ways can save you a bunch of dollars every year.

If you are a common self-employed man and looking forward to saving through your tax filing this year, you must go through this detailed guide that would surely help you with all the mind-boggling paperwork, help you file your taxes with 100% accuracy and majorly, tax deductions.

Tax deductions

Is it your first time?

Well, there is always the first time, but for you, we are here to guide you through. If you are filing tax for the first time, the best advice would be to hop on to the TurboTax technical support number and know all about it. Here is some extra piece of advice for such labyrinth of tax formalities.

Before everything let us just understand what are tax deductions and how do they work. It is an amount of money that the Internal Revenue Service offers you to deduct from your AGI (Annual Gross Income). This further reduces your taxable income.

But, most of the times when you are availing reductions on tax quite frequently, you are considered under the low-income bracket. This furthers diminishes your annual tax calculations.

To talk more about the deductions in the US tax law, they are classified into two types: the Standard deductions and the Itemized deductions.

The standard deductions are preferred the most because they are easy to understand and it is also the flat amount on your tax bills that the IRS offers. Though, the amount of deduction depends upon the tax filing on every individual separately.

On the other hand, the itemized deductions are the ones that allow you to deduct some amount of tax on particular items and not the tax as a whole. Coming back to the self-employed individuals, the business-use fragments of the expenses can only be deducted.

This could be a lot confusing. But, there is always a way out. When you are stuck at such issues, you can reach at the TurboTax customer support number and your tax-related queries are sorted right away.

Why it has to be so intricate?

The increasing tax-preparation burden is one of the major burdens on any self-employed lifestyle. It is quite a task for the self-employed professionals for filing tax because of it not the case like a full-time employee who can easily file their taxes with the W-2.

Some freelancers file tax quarterly and having heavy penalties and IRS risks. Also, they are paying for the medicals and the social security taxes that the organization covers up on the behalf of their employees.

When self-employed employed individuals pay the same, they are self-employment taxes. This is the major reason why a self-employed run after deductions because he is already tired of carrying the hefty load of other taxes.

When the setting-up costs are heavy, self-employed professionals are depended on the tax deductions due to reducing their sky-rocketed high amount of taxes. Getting deductions on your taxes to reduce the amount from your gross income by itself.

Tax filing for the freelancers can get much into the intricacies while on the other hand, self-employed professionals can choose to write-off the expenses that fall under the below three categories:

  • Everything used in business operations.
  • Things used when the business is active.
  • Everything used for space where your business is operating from.

TurboTax technical support can help you with this. When there are struggles concerning filing tax, it takes some experts to deal with it. So, why wait when professionals can do that for you in no time. It doesn’t take many efforts, all you have to do is to reach TurboTax tech support number.

What are the most-known deductions for a self-employed?

If you are self-employed, this below-mentioned list will surely come in handy. So, let’s waste no more time and get straight to some of the most common deductions for self-employed individuals.

  • Travel and Hotel deductions
  • Home Office
  • Utilities
  • Professional Development
  • Advertising and Marketing
  • Website
  • Software
  • Mileage and gas
  • Incorporation
  • Self-employment health insurance deduction

It is quite a deduction, isn’t it?

It might be the case that some of these deductions may not apply to your business but many come in Part II of Schedule C (Form 1040). Also, if the total of your claims come out to be lesser than $5000, there are chances that you might be able to use the Schedule C-EZ.

If this seems to be complicated, you should always trust the experts. TurboTax tech support is quite easily available for such references.

Do not forget the paperwork

All these deductions are transferred to the paperwork in no time. Being a freelancer or self-employed individual can be exhausting sometimes, especially when it comes to filing taxes. But, by gathering the deep understanding of all the possible deductions and the paperwork, you can get the maximum deduction.

This might be nail-biting in the beginning but when you start tracking your business and managing all the necessary deductions that are meant to be for your business forever, you can save well at the end of the financial year.

The best possible way to save your time is to start using QuickBooks Self-Employed and TurboTax. For support, you can always rely on experts by reaching the available contact numbers, TurboTax tech support number.

 

 

Best Accounting Software in US for small-business in 2019 800 450 Quickbookstechies

Best Accounting Software in US for small-business in 2019

Best Accounting Software in US for small-business in 2019

When you start a business, it goes without saying; you must stay ahead at your finances.

Regular payments going in and out from the business are not the only area of concern. Forecast cash flows and the detailed financial report is also an important area to be worried about when the taxman knocks your door.

Well, you can relax your head because these troubled the users in the times when there was less or no accounting software. Today, the world is full of accounting software that makes it the easiest to perform your daily accounting tasks. They are specially designed to address today’s business needs. Such software does not require you to be a well-informed accountant but just kept aware of some basic accounting terminologies.

With the advent of cloud-based accounting software, it is easy to carry your transactions anywhere and anytime which are backed-up as well. There are so many features to consider while choosing the best software for your business.

QUICKBOOKS IS NEED OF THE HOUR

QuickBooks is one such software which is compatible with your device and also gives you the freedom to leverage from a variety of other useful features. It is the best known cloud-based suite for all the growing needs of businesses.

QB has been into existence for a long time but, the latest versions are regularly made available. With versions available for this software, users can leverage from them as per their business needs. If you are planning to buy the online version, wait no more and contact QuickBooks online support to get QuickBooks customer service.

Here are the existing plans and their prices that Intuit offers for QuickBooks.

PRICING

The Essentials come at $17 per month that has ample features like invoicing, payment handling (2.9% added with 25c as transaction fee), and expense tracking included with VAT calculation and tracking.

It also comes with pension and payroll management with an additional fee of $2 per employee for a month.

Here’s what people say about the software:

I am using QuickBooks Pro 2019 from last 4 years and would love to talk more about the pros.  I never liked doing accounting for my own business. I hired someone but I had to explain A to Z to him; it was a cheap resource but I didn’t want to hire an expensive resource. Then someone recommended me to use this software.

I won’t lie and say it’s not expensive but I would say it is the best software to handle all my accounting tasks. I am happy with the payroll management services that it offers. I can accept online payments and it is user-friendly. It always keeps me from spending tons of money. I put in money once in this software and I would say that I am saved for lives. I have saved 10 times per year more as compared to the years when I was not using it.

The only con about this is the support. I do not rely on their QuickBooks help but take help from the techies. Their QuickBooks customer care number is always available. Overall, I am happy using QuickBooks. 

–          Brandon’s Travel Agency

This review has everything that small-business wants to read about QB. We have got you the best feature of QuickBooks software to simplify your business.

EASE OF USE

Offering the most engaging user-interface, it is truly the software that the beginners can adore. Intuit has deliberately worked towards making the software, easiest to use.

With our all-time available QuickBooks technical support phone number, we make sure that the users do not face any troubles while using the software. So the next time you need help with QuickBooks, reach us at our QuickBooks customer support number.

Easy upgrade

QuickBooks made it easier to download the latest update. You do not have to go through the long and boring process to get the new update of your accounting software.  It is now a simple way with just two clicks and you have the latest version. You need not sit back and do it all manually rather it is automated and you can also choose to hold the previous version of the software with you which is highly recommended.

After getting started with the new version and all the required links to the data file will be there in your No Company Open-File Window. This is a great improvement from the previous years because this was not available previously. The users can benefit from this improvement and it is surely a big deal.

If you are still wondering where this thing is going, do not forget to contact us at QuickBooks customer support number.

How QuickBooks Enterprise can help you with Businesses before any other version? 1024 574 Quickbookstechies

How QuickBooks Enterprise can help you with Businesses before any other version?

How QuickBooks Enterprise can help you with Businesses before any other version?

What is QuickBooks?

This might be a boring question though.

Alright, which QuickBooks get you on nerves?

That’s like a question, maybe?

If you have gone well through the website, you surely know what QuickBooks is. Added to this, if you are using one of them, you would definitely know a lot about it.

But, well! It is alright to swim in the rivers with a bunch of doubts when we talk about the confusing versions altogether.

ONCE UPON A TIME…

There were a couple of versions for QuickBooks that helped businesses with numerous complexities in accounting. There’s something that goes without saying; QuickBooks is offering unbelievable end-to-end business management solutions from years.

But then, the varieties of QB separated and started serving businesses with different needs. People also started considering a particular version for their business and they seem to be sorted for lives.

There is no denying the fact that there are multiple versions of QB that offers great ease at accounting intricacies. But here is why QuickBooks Enterprise would do that better for you.

WHY QUICKBOOKS ENTERPRISE?

This potent iteration of QuickBooks is set to offer 10x what other QBs are delivering. Launched in the year 2002, Intuit updates the software every year with something more to encourage the productivity of every business.

Taking care of different niches, QuickBooks comes with six different industry-specific versions namely, Manufacture & Wholesale, Retail, Non-Profit, Contractor, Professional services, Contractor, and Accountant. It is the most extensive accounting solution that you would ever meet without changing over to an ERP solution.

This one got you covered with decent support services but the call waiting can make it a lot irksome. That is the time, where you need to contact the QuickBooks support phone number. Here are a few reasons why QuickBooks Enterprise is the win-win in any case.

1.     DATA BACK-UP AND COMPLETE PROTECTION

Enterprise comes with an add-on feature for a year subscription of the online vault. It keeps the QB reports safe and secured at no extra cost.

2.     TRAINING ON-THE-GO

If you are running QB Pro or Premier already, you would know that QB Enterprise is offering training to get through all the learning curves of QuickBooks without any additional cost. Where on the other hand, pro and premier doesn’t. You can directly contact us at our QuickBooks support phone number if you need help with this one.

3.     EFFICIENT BUSINESS SCALING

When you subscribe to QB Enterprise, it allows you to have around 30 users if required. With offering user support, it also allows you to manage customers, inventory items and vendors. If you find any trouble with this one, do not miss to call our QuickBooks customer care number.

4.     HEAVY FILES PROCESSED WITH EASE

When you see your system crashing plenty of times, it is advisable to stop wasting your time on archiving your data in your old files. Enterprise allows you to process the files to a GB in them. If you think this can get your mind-boggling, don’t waste your time and speak to tech experts at QuickBooks customer care number.

5.     INCREASED USER CAPACITY WITH INCREASED SIMILAR INTERFACES

If you are planning to unfold various other branches of your business, QB Enterprise will offer you 30 users in the company file itself and help you with your extension. Also, if you consider it a task to be done professionally, you can call us at QuickBooks technical support phone number.

6.     REMOTE ACCESS IS A PRIVILEGE

Terminal service that comes with Enterprise version allows any user to access from their choice of location. This could be confusing at once but you can always rely on our tech support to know more about it by dialing our QuickBooks customer care number.

7.     SUPPORT IS NO FAR

When you are looking for online support for longer, wait no more and call at QuickBooks technical support phone number. It is no denying the fact that users need technical support for QB somewhere someday. That is where our support services come in handy. Hesitate no more and reach us at our QuickBooks customer support number.