Every industry is different. Each sector presents its own unique landscape, challenges, and needs. Fortunately, QuickBooks offers an Enterprise version that has platforms for multiple industries. They have been able to customize solutions for industries such as Contractors, Manufacturing, Wholesale, Retail, Non-Profit, Professional Services, and Accountants. We want to make sure everyone properly understands the differences between the Enterprise Industry versions, so we’re breaking down the unique features in a blog series. We’re starting with the Contractors edition, so if you’re a contractor – keep reading to learn about all the ways that QuickBooks Enterprise 2021 Contractors Edition is tailored to your business and can help you achieve your goals.
In a general sense, the QuickBooks Contractors Edition helps contractors to stay on top of their business. A goal of most contractors is to improve profitability and QuickBooks Enterprise 2021 Contractors Edition helps them to do that through powerful job cost tracking and greater visibility into every project. As an end-to-end solution for construction projects, from initial estimates to professional quotes to tracking throughout, this version helps contractors to improve project profits and increase customer satisfaction.
New Features In Enterprise Contractor 2021
Remember that any QuickBooks Enterprise 2021 Edition provides remote access that allows workers to access the platform from anywhere. With QuickBooks Enhanced Payroll, you can create unlimited checks, use free direct deposit, file payroll taxes, and generate W-2s on your own with no monthly fees. Furthermore, the software provides customizable reports that save time and reduce errors. Some of the new, key features you can expect from the Contractor version specifically include:
- New Data Level Permissions – Allow specific users to view, edit, or delete only the specific customers, vendors, or data that they’re responsible for.
- New Receipt Management – Assign every expense to a project as it is incurred using only your mobile device, and even record multiple transactions at once.
- New Ability to Automatically Send Statements – Automate regularly sent statement emails and get paid faster by easily reminding customers what they owe.
- New Ability to Customize Payment Receipts – Create a more professional look with receipt formatting and the ability to include logos and other custom elements.
- New Salesforce CRM Connector – Have one source of information between sales and support so that you can answer customer questions quickly or resolve issues before they escalate.
- Powerful Job Costing – It’s important to know when costs are cutting into your margins, and this real-time project information can track estimated and actual costs so that you can react quickly to issues and plan for the future.
- Customized Chart of Accounts – Gain important information like your work in progress, overages and shortages, labor, and materials so that you can get insight into your business and prepare for tax season.
- Payments Screen Share Options – Sort any column in the payments screen (date, order quantity, order amount, the amount due, payment) and quickly find the transaction you’re looking for.
- More Powerful Accounting Tools – There are several tools that were previously only available to accountants, but now are included in industry editions to provide even more control over keeping the books.
This version of Enterprise also allows contractors to keep better control of projects from start to finish. Increased automation helps speed up workflows and ensure all of your projects are moving forward. The features that provide these benefits are:
- Work Orders
- Task Management
- Change Order Functionality
- Employee Time Tracking
- Flexible Billing Rates
Enterprise Contractor Custom Reports
Finally, robust reporting provides the ability to track your job costs automatically as you pay bills, employees, and subcontractors. You can see how you’re doing at every stage and leverage specialized construction reports such as:
- Job Status
- Job Costs by Job
- Unpaid Bills by Job
- Expenses Not Assigned to Jobs
- Billed or Unbilled Hours by Jobs or Person
- Open POs by Vendor
- More Industry-Specific Reporting Bundles
Contractors and builders claim that having more visibility into job costs provides better insights that make planning for the future easier. QuickBooks Enterprise 2021 Contractors Edition helps industry leaders to save time, reduce errors, and get more done. To learn more about the QuickBooks Contractor platform, contact us directly at 866-949-7267 and we can discuss your specific needs and even get you a free 30 day test-drive.