This article contains the most common Contractor terminologies that you encounter on a contractor business. It also provides information about tasks you can do in the Contractor Edition of QuickBooks Desktop.
While you can generate and customize job costing reports in any QuickBooks edition, the Contractor Edition comes with built in reports for advanced job costing that will help you manage your jobs more effectively and efficiently.
Some of these are:
To access these reports, go to the Reports menu and select Contractor Reports.
Contractor Edition allows you to enter change orders into the estimate. Change order can track increase or decrease in the quantity and price of the item(s) as well as the items added or removed from the estimate. This helps you keep track of any changes and their impact on your business.
In the Contractor Edition of QuickBooks you can track the worker's compensation insurance expiration date for Vendors that are subcontractors. When you write a check or create a purchase order or bill for this subcontractor, QuickBooks will notify you if their insurance has expired.
To activate workers compensation: