QuickBooks Group Products - Progress Billing Solution For Sub-Companies and Lump Sum Payment Draws

QuickBooks(TM) Premier Contractor Edition offers several choices for invoicing and features a pretty flexible Progress Invoicing feature. However, the Progress invoicing feature is certainly targeted more toward line-item billing for General Companies. Sub-companies and lots of General Companies run facing a person billing problem when trying to correctly utilize detailed job-costing with QuickBooks(TM) Progress invoicing.

To obtain good Estimate versus. Actual Job costing, the Estimate will have to be joined in detailed format with believed labor, material, subcontractor along with other costs. The problem arises once the Contractor is billing the client inside a Lump Sum Payment Draw schedule instead of line item. Quite simply, your contract states that you'll collect 20% upon completing rough-in, 40% at Top out and 40% upon completion.

Most frequently a Contractor in cases like this would rather display around the invoice the Progress detail supplied by QuickBooks(TM) progress invoicing like the original contract amount as you lump sum payment, the present amount billing, and also the previous amounts or percentage charged. However, they don't want to exhibit several line item amounts like Labor, materials, etc. as detailed around the Estimate. Since the Progress invoice pulls it's data from the Estimate, there's a conflict.

One option would be to produce a custom Progress Invoice template that removes all posts aside from the outline and by hand keying in the detail, for example 20% Draw, etc. The disadvantage is obviously is you have removed among the best options that come with Progress Billing, produced manual entry, and also the invoice just does not look as professional. Another solution, more more suitable for me, would be to create Group Products which include your detailed job-costing products yet permit you to produce a separate description. If you use this item in your Customer's Estimate, you'll support the Item's Job-costing and Revenue confirming, the Invoice produced in the Estimate will Group the products together on a single line with one amount.

The primary problem with this particular scenario is it would appear that you'll want to setup a brand new group item for each number of products you utilize. Should you always employ exactly the same mixture of products, like Labor, Materials, Subcontractor, it might appear reasonable to setup an organization item that contains these products to make use of on every job. But what if you're a redesign contractor and also the products inside a job vary? Not a problem, you are able to really alter the products in your group item on a quote or invoice. This is achieved by clicking within the group item around the form (make sure you are within the group item, not below or above), while using Edit - place line, or edit remove line menu choice to place or take away the products you want to change.