Accounting & Bookkeeping & Small Business Forum

[Guest]

OK, I promise this to be my last question for a while.

When a salesperson sells a job, I enter it into QB by creating an invoice. The problem is that the job is sold but may not be scheduled to start for many months. However, it begins to appear on the aging report but there really isn't any money due until the job begins (the customer pays 1/2 down to start and then the last 1/2 upon completion. )

Any suggestions to keep my aging report accurate.

I am wondering if I need the Construction industry module?????

Thanks again.

[Guest]

There are several ways to handle construction accounting. In Module three of the Universal Professional Bookkeeper course, there is a great, easy to use system for tracking and correctly billing your clients. As far as I know even the QuickBooks Construction program handles the process the same as Pro does.

[Guest]

Perhaps you need to review your entries for these types of sales. Technically, I believe the "sale" is not complete until the job commences and the deposit is owed to the client and should not be recognized as a sale until a corresponding portion of the work is completed i.e 1/2 the work is done. It might be a good idea to research contract/project accounting for the entries you'll need to make for these sale. I think the deposit will be recorded as a liability until it can be recognized.