Avoid These 10 QuickBooks Mistakes: Contractor Evolution

PaintED Podcast

To learn more about Breakthrough Academy, click here: https://trybta.com/PCA180 Grab a free copy of QuickBooks' Top 5 Profit Leaks for Contractors download here: https://www.btacademy.com/ce/download... Grab your free Breakthrough Academy budgeting tool here: https://trybta.com/ak3 Have you ever wanted to better understand how to use QuickBooks effectively but haven’t had the time to really dive into it? Most contractors are probably in the same boat. Our anecdotal guess is that north of 85% of our Members use QuickBooks as their bookkeeping software. But there is so much the platform can do, it’s hard to know if you’re using it “right.” Or to its full potential. So… we thought it would be cool to have someone from QuickBooks come on and teach us how to get the most out of it. Nate Flake is the Senior Partner Development Manager at Intuit (the makers of Quickbooks) and he also hosts their Constructing Growth Podcast. Today, we’re going to unpack 10 crucial QuickBooks mistakes contractors often make and how to avoid them moving forward. 00:00 - Intro 02:16 - How QuickBooks got so huge 06:38 - 1. Improper Setup 12:19 - 2. Neglecting Job Costing 17:05 - 3. Incorrect Use of Accounting Methods 18:50 - 4. Overbilling and Underbilling 21:44 - 5. Inadequate Tracking of Work in Progress (WIP) 24:13 - 6. Not Using Third-Party Apps 28:12 - 7. Ignoring Financial Reports 30:22 - 8. Mishandling Payroll 33:01 - 9. Mishandling Payments 37:31 - 10. DIY Bookkeeping 40:19 - How to know if you’re on the right QuickBooks product Subscribe to Breakthrough Academy to never miss a video! 👇 http://bit.ly/youtubebta Interested in working with us? Let's chat: https://trybta.com/welcome Join our Facebook Group: / contractorroundtable Connect with us on Social Media: Facebook: / thebreakthroughacademy Instagram: / btacademy LinkedIn: / 10175179 Email: [e-mail] Phone: [phone] #BTA #BreakthroughAcademy #BuildingSuccess

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