Construction Owners: See What's New in QuickBooks Enterprise 2014

We all know every new version of QuickBooks adds new features, and QuickBooks 2014 is no different. In addition to some usability improvements that will benefit our Inland Empire QuickBooks users, Intuit enhanced its capabilities for the construction industry.  HELLO Construction Owners, Subcontractors, and Project Managers this version should be calling YOU!  The job costing and reporting functions are more powerful than EVER!!.  

  • changes in quickbooks 2014Enhanced job costing and reporting
  • Faster data entry
  • Manage sub-assemblies once with a final build
  • Improved purchasing capabilities
  • Advanced Pricing feature
  • Improved communication within QB
  • Income Tracker
  • Streamlined bank interface
  • More efficient way of handling checks
  • Stay on top of email communications

Enhanced Job Costing and Reporting
Construction Job Costing

If you do a lot of business through QuickBooks, this makes it easier for you to analyze your history of estimates and of jobs that have moved forward. Intuit also added new reporting functions to make it easier for you and your accountant to see how your construction business is performing. Ability to run Work In Progress (WIP) and Committed Costs reports effortlessly.  Now, finally Construction Owners, Contractors & Subcontractors can stay on top of job costs with the new customized report functions that can drill down into your performance by job, by rep and filter by "job status" for jobs in progress, pending award, and date of competition.   You can even customize your PO's to view expenses by rep!

Faster Data Entry

QuickBooks users will appreciate the time and money saving benefit of the batch entry features in QuickBooks 2014. Moreover, Construction Owners, you can enter multiple bills and invoices together, all at once. Better yet, you can even import them directly from a Microsoft excel spreadsheet to save you time and money.

Manage Sub-Assemblies Once with a Final Build

Build Assemblies

Automatically update your assembly costs, ability to enter subassemblies to the final builds. Change for Bill of Materials right inside of QuickBooks.  Changing your BOM is just as easy with a simple spreadsheet-like interface right in QuickBooks.  Also, make component costs changes and update your assembly costs automatically.

Improved Purchasing Capabilities

With two clicks know your minimum or maximum stock levels and QuickBooks automatically calculates the quantity needed with the ability to directly place a PO.

Advanced Pricing an Add-On Feature for QB

Take control of your pricing by customizing and automating your pricing right inside QuickBooks with the Advanced Pricing Add-On (sold separately).  Create price rules for customers, items, vendors, classes and custom fields and the ability to apply multiple prices rules at the time of transaction.

With Advanced Pricing, your clients can:
Create quantity discounts; Pass on a one-month manufacturer markdown; Charge different prices by class (i.e. location); Create an upcoming promotion using a future start date; and
Offer seasonal discounts with expiration dates to apply on top of your regular wholesale discount.

Working Together with Improved Communication Within QB

New Collaboration features make it easier for you to work with your accountants and bookkeepers. When either of you have a question, QuickBooks 2014 has a new collaboration feature that facilitates explaining questions. It also stores the record of your conversation right with the entry in your books.

All of your conversations are also stored securely, maintaining the privacy of your company's financial information.

Income Tracker for Construction Projects
Manage Construction Projects

Stay on top of your Construction income with the new Income Tracker with just one simple click, only see the transaction you want to see, email or print.

Streamlined Bank Interface

Downloading from your bank transaction from your bank institution just got simpler.  You will be able to download transactions from multiple banks and accounts easily and quickly.  No need to rekey info a second time for once you entered it once QuickBooks will remember it how your entered the data from the first time.

More Efficient Way of Handling Checks

Unfortunately, having customers pay you with a check that does not clear is an unpleasant fact when you do business.  QuickBooks 2014 acknowledges this and streamlines the handling of bounced checks.  Now, when a check bounces, QuickBooks automatically reclassifies the invoice as unpaid, adjusts the customer's account and your books for the non-payment and adds a bounced check fee for you.

Stay on Top of Email Communications
Manage Project Notes

The program has tighter integration with your email than ever before. You can manage your customer communications from inside QuickBooks, including sending job info in a template that you customize. Communicating with your accountant or bookkeeper is easier to thanks to the ability to directly email transactions back and forth.

QuickBooks users can benefit from these new features. If you would like to learn more about how QuickBooks 2014 can make your construction business more efficient and more profitable, or if you would like help with your accounting or management, let us know. The principal of A2Z Office Management has over 25 years of experience helping construction companies find real solutions to their business challenges.