QuickBooks is a versatile piece of accounting software that can be used in a number of different industries, but for home builders, it can be especially useful. When working as a home builder and apartment builder in Nigeria, using QuickBooks can help you stay on top of jobs and ensure that the financial aspects of each one are in order.
Here are key features in QuickBooks for home and apartment builders in Nigeria
Job Costing
Using QuickBooks as a home builder gives you the option of job costing individual jobs. With this capability, you can see exactly what materials were charged to each job and see how much profit was generated. If the profit figures are not as high as they should be, this will help you adjust future bids for jobs so that they can be more profitable. It also allows you to see if you bid the appropriate amount of materials for the job.
Completed Contracts
When building several homes at once, it can be helpful to use a completed contracts method when looking at the overall profitability of your company. When looking at profit and loss statements, you have the option of looking for jobs by job type. If a job falls into the category of a “Current Contract,” it is still in progress. If a job is considered a “Completed Contract,” it is a finished job. By looking at the completed contracts together, it helps you gauge the overall profit margin of your business.
For more information on how we can set up your home and apartment building business on QuickBooks, CONNECT with us 09092942048, 08175420054 or SEND us your request: info@magnetgroupng.com
