Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

This Podcast Is Episode Number 0128 And It Will Be About Why Downloading From The Bank Destroys Job Costing And Profitability Downloading from the bank is easy and saves time; however, it does not allocate the transactions for accurate Job Costing Reports. The two main reasons highly profitable construction contractors use Job Costing Reports: #1 It is the foundation of your construction company unique "Job Costing Library".  This helps you estimate new projects using historical data. #2 It is part of your Business Process Management Process that can help you understand when, where, how, why and who you make and lose money. Every Transaction In Your Construction Company QuickBooks File Needs To Be Filtered Some transactions will need to be split into parts for example a loan payment may have part of the money assigned to Principle and the rest to Interest. Bank feeds and downloading from the bank works great for roughly 80% of the businesses and the other 20% like construction it causes major disasters which