If you use classes
for tracking Labor, Materials, Subcontractors, Equipment Rental, and Other
job-related costs (LMSE&O), you can get a report by class. It is important
in construction that costs are broken down into LMSE&O because a number of
entities will need these totals. For example, your tax preparer will need the
total LMSE&O for your tax return. Or, your worker's compensation
insurance carrier may need a list of all subcontractors used during the year
for their annual audit.
If you're using classes for tracking LMSE&O, follow the procedures
below to generate these reports.
Go to the Reports menu, choose Company & Financial, and then click Profit & Loss by Class.
In the Dates field, select This Fiscal Year or enter the dates of your tax
Make sure nothing appears in the Cost of Goods Sold section under the
Unclassified heading. If something appears here, double-click the amount
listed, open each transaction, and allocate each transaction to a class. (Note
that all Expenses, however, should show up in the Unclassified column.)
Adjust the column widths to fit the report on one or two pages.
Click Print to print the report.
Go to the Reports menu and click Custom Transaction Detail Report.
In the To and From fields, enter the dates the auditor gave you for the audit beginning and ending dates.
Click the Total By drop-down list and choose Vendor.
Click the Filters tab.
In the Filter scroll box, select Class.
Click the Class drop-down list and choose Subcontractor.
Click OK. The generated report shows each transaction you entered for the
year by vendor.