Intuit — QuickBooks 2010 Premier: Construction Edition

From the July 2010 Review of Construction/Contractor Accounting Programs.

Used by millions worldwide, QuickBooks has expanded its hold on the small business industry by introducing the “Choose an Edition” option, which allows users to choose from seven different industry types when installing the software. This provides users with the ability to access the correct chart of accounts and feature headings. While this product may not be suitable for larger construction companies or contractors, QuickBooks has done a good job of adding industry-specific construction features.

BASIC SYSTEM FUNCTIONS:
QuickBooks has always been an easily navigated product and remains so in the 2010 version. Centers are the main navigation tool used, but a drop-down menu is available at the top of the screen, as well. Custom options allow users to define the interface to suit their needs, so while utilizing all navigational tools can clutter the main screen, users can easily remove some of the unnecessary items if desired. Data-entry screens are similar throughout the product and are easily navigated, with numerous tools and options available in each screen. The company snapshots function allows users to choose as much content as desired on-screen. Company preferences can be entered during setup or when needed, and the optional remote access service can be utilized in order to access the system from any location.

CORE ACCOUNTING CAPABILITIES:
QuickBooks Premier offers complete accounting functionality, with GL, AP, AR and PR. All GL transactions are entered through the company function, and AP and AR is well suited to the construction/contracting field, with appropriate vocabulary included for job-related functions. Payroll is included with the product, and QuickBooks offers an optional payroll service. Also included is an excellent banking capability, a multi-currency option and solid account tracking.

The Audit Trail report provides management with detail about every transaction that is entered into QuickBooks. The new user wizard can help save time, and users can be assigned full access or specified access, where managers can choose the specific areas of the program that are accessible.

CONSTRUCTION/CONTRACTOR-SPECIFIC FEATURES:
QuickBooks allows for customized estimates, saving of estimate templates for future use with other jobs, and editing of an existing estimate for current customers. Users can also choose to enter multiple estimates for each job. Estimates can also be emailed or converted to an invoice, when necessary. Job-related reports allow for the tracking of project costs, as well as for comparing estimates versus actual and tracking profitability for each job. Change order information can be added to any estimates already in QuickBooks. Information can also be added or edited as each job progresses. Subcontractor payments and expenses can be tracked by creating a separate service item. Users can also track subcontractor time, either with or without using the time tracking feature.

All customer, vendor and employee information can be tracked through the QuickBooks centers. All transactions within each center are grouped by type and are easily accessible with a single click. While providing decent tracking information, centers also allow users to enter new transactions. QuickBooks offers excellent Inventory functionality, which can be easily activated through the edit preferences option. Users can enter part numbers, unit of measure, preferred vendor and re-order point. For further tracking, users can also create user-defined custom fields. The Purchase Order feature allows for entering vendors on the fly, creating a custom purchase order template and adding a vendor message if desired.