Common problems we fix
- Job costs scattered across general expense accounts
- Draws and progress billings that don't tie to contract value
- Retainage receivable and payable not tracked
- No work-in-progress (WIP) view, so profit is recognized at the wrong time
- Estimating or project software, such as Knowify, that doesn't match QuickBooks
How we set it up
We build job-level structure in QuickBooks Online, code labor, materials and subcontractor costs to each job, and track draws, retainage and WIP where they apply. The monthly close includes a review of job cost coding so the job reports stay trustworthy.
What you get to see
Contract value, job revenue and costs, job gross profit, budget remaining and forecast profit — job by job, while the project is still open. Open the contractor demo to click through an example built on fictional data.
Why construction books need a different structure
In construction, revenue and cost timing rarely match. You may bill a draw before the work is done or finish work that won't be billed for weeks. Retainage holds back part of what you're owed. Change orders alter the contract mid-project. Standard bookkeeping records all of this correctly and still shows the wrong profit for the period. A job-level structure with WIP tracking matches revenue to the work actually completed, so each month's profit reflects what really happened.
Questions we hear
We use Knowify. Can you keep it and QuickBooks in sync?
Yes. We work with your project software and structure QuickBooks so the two agree.
Do we need WIP reporting?
If you run projects that span more than a month or bill in draws, WIP shows whether each job is over- or under-billed. Your lender or bonding company may ask for it.
Can you help with subcontractor costs?
Yes — subcontractor bills are coded to the job, and retainage payable is tracked.
Want to see what this looks like for your business?
Every engagement starts with a free Books Review of your current books and QuickBooks structure — what’s working, what isn’t and what to do next.