If you’re a construction business owner, ensuring the financial health of your company is critical. Staying on top of things like cashflow, profit margins, payroll, incomings and outgoings is hard work, and often means time spent behind the screen instead of the tools.
If you don’t fancy the idea of spending your precious time stuck in the office working through the books, then QuickBooks might be right for you. Their accounting software has already helped thousands of construction professionals to organize their accounts and secure the financial wellbeing of their businesses.
Numbers on your mind? Don't foget to nail down the most important number of all — your charge out rate!
Short on time? Skip ahead!
- 1. What is accounting and bookkeeping software?
- 2. QuickBooks for construction professionals - what are your options?
- 3. What is construction contractor software?
- 4. The benefits of bringing the two systems together
- 5. How to integrate QuickBooks and Tradify
1. What is accounting and bookkeeping software?
In short accounting software securely stores and organizes all your business’s vital financial information in one easily accessible place. The best systems use cloud storage, which means you can safely access your financial records anytime, anywhere as long as you’ve got internet.
Each bookkeeping software offers something slightly different, but the best ones should always provide these services as a minimum:
- Invoicing
- Payroll
- Bill payments
- Accounting
- Financial reporting
2. QuickBooks for construction professionals - what are your options?
QuickBooks isn’t just used in the construction industry. It’s used across multiple industries around the world, for a variety of different reasons. With that being said, some of QuickBooks’ functions will suit construction businesses better than others. Here’s what you need to know:
What’s the best QuickBooks version for your construction business?
- Need regular access to financial admin on the go? QuickBooks Online was designed with you in mind.
- Prefer to take care of the financial admin from your desk? Then consider QuickBooks Desktop as the perfect package for you.
What are some of QuickBook’s core features?
- Accounting - Keep track of your income and expenditure. File business statements. Scan and store receipts to claim business expenses.
- Payments - Allows payment through various channels, including: credit and debit cards, ACH, and eCheck.
- Payroll - Pay staff salaries accurately and on time. Taxes are automatically calculated, filed, and paid by the software. Oversee employee bonuses and expenses.
Pricing and plan options
A variety of plans are available to all, so pick the one that suits your business and budget best!
If you’re the type that likes to try before you buy, then you’re in luck! Quickbooks offers a free 30 free day trial. P.S. Did we mention that Tradify offers a free trial too?
Here’s a brief overview of each plan:
Simple Start - Best for new businesses
- Track income and expenses
- Send custom invoices and quotes
- Connect to your bank
- Track Sales Tax, GST VAT
- Insights and reports
- Capture and organize receipts
- Progress invoicing
- For one user, plus your accountant
Essentials - Best for straight-forward streamlining
You can access the same features as Simple, plus:
- Manage bills and payments
- Track employee time
- Multi-currency
- For three users, plus an accountant
Plus - For rapidly scaling/bigger businesses:
You can access the same features as Essentials, plus:
- Pay recurring transactions and bills
- Track inventory
- Track project profitability
- Manage budgets
- For five users, plus an accountant
3. What is construction contractor software?
Having accounting software makes work life so much smoother - so why stop at accounting software? Tradify is every construction professional’s favorite all-in-one business management software.
Want to know how Tradify could benefit your work life?
- Arrange and organize jobs on the go, from the palm of your hand.
- Use customizable templates, and upload material lists with prices.
- Send quotes and invoices from anywhere, helping you get paid faster.
- Schedule appointments with other construction professionals through our connections feature.
- Record inquiries so you never miss a lead. Tradify will automatically turn them into quotes.
- Connect Tradify with Google Calendar to see who’s closest to a job for faster uptake.
4. The benefits of bringing the two systems together
These days, digital tools are just as important as the tools you use on site. But it’s important that you’re careful about the software you choose to use — employ too many and you’ll only end up with a labyrinth of software and apps that are impossible to make sense of.
Aside from decent accounting software like QuickBooks, Tradify is the only other software you really need. If you run a business, Tradify will give you all the tools you need to do it right — it even syncs with QuickBooks to make your life easy! Here’s how Tradify’s two-way sync with QuickBooks works:
One source of truth. By automatically sharing data between each other, you only ever have to enter information into one system. For instance, if you create an estimate for a customer in Tradify, that information will also be synced to your QuickBooks account. That means less hunting for info and more getting on with the job!
Work faster, not harder. Llife is busy enough when you’re a construction professional, so double handling just isn’t an option — especially when it comes to data. That’s where Tradify and QuickBooks come in, helping you eliminate unnecessary admin through automation. That estimate you created? Automatically generate an invoice from it so customers can pay you accurately and easily.
Take control of your finances. With this end-to-end business management solution, you and your accountant get instant access to all the data with a single click. That means you can file your taxes on time, and track your cash flow to make smart business decisions.
5. How to integrate QuickBooks and Tradify
Connecting Tradify with Quickbooks couldn’t be easier:
- Head to Settings, click ‘Integrations’, and then ‘QuickBooks’.
- Select ‘Log in to QuickBooks’. You’ll be redirected to QuickBooks to log in and authorize Tradify.
- Enter your QuickBooks login details and select ‘Sign in’.
- Select ‘Authorize’ to allow data sharing between Tradify and QuickBooks.
- Next, you’ll be redirected to Tradify and four new account fields.
- Choose the appropriate account codes for labor, materials, your bank account, and purchases using the fields provided, and click ‘OK’.
Interested in testing out the benefits of a leading job management software? Sign up for a 14-day free trial with Tradify, no bank card required!
This article is not intended to be financial advice. Please discuss your individual financial situation with your registered financial advisor, bookkeeper, or accountant.
