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Utilizing QuickBooks for Land Acquisition and Development

Many land developers and spec home builders set up QuickBooks® or hire someone to do it for them. Often they do not understand the difference between construction accounting and regular accounting. In most cases, the person who set up QuickBooks® is not a construction accountant. Not knowing how to track the cash flow in a construction company is a disaster waiting to happen. Knowing how to use work-In-progress, direct and indirect construction costs is key. Understanding overhead, expenses, and other income compounds are also important. Bankers, lenders, investors, construction company owners, and other stakeholders need accurate, timely reports and proper QuickBooks® set up, and construction accounting is the foundation to provide them.

This program shows some of the basics how to set up QuickBooks® for construction for land acquisition, development, and spec home builders and how to develop a process for construction accounting data entry. Also, how to generate useful and timely financial and job cost reports. The information also explains the method required for analyzing Work-In-Progress (WIP) Reports. Poor construction accounting systems are the leading cause of contractor business failures. Unforeseen cash flow issues can lead to construction delays, business, and personal bankruptcy. This topic is critical for land developers and spec home Builders. Your accounting system must support your company's financial and job costing needs. This information is the foundation for future business plan development. Which leads to a profit generating cash-cow construction company. Process dependent versus people dependent leads to prosperity and peace of mind.


Runtime: 85 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Construction Accounting vs. Regular Accounting

Construction Accounting for Land Acquisition

Construction Accounting for Land Development

Construction Accounting for Spec Homes

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on June 1, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Randal DeHart, PMP, QPA

Randal DeHart, PMP, QPA

Fast Easy Accounting

  • Co-Founder in the office of Fast Easy Accounting
  • Practice emphasizes all aspects of construction accounting for contractors all across The USA including Alaska and Hawaii
  • Conducts regular seminars and workshops on numerous parts of construction accounting
  • Written several publications related to the areas of construction accounting
  • Education: Accounting, Project Management, QuickBooks, Xero Accounting
  • Can be contacted at 206-361-3950, [email protected] or on Twiter® @ContractorBkpng
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 402948
Published 2018
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