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Getting class information on reports

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.

To prepare a year-end tax report for total LMSE&O

  1. Go to the Reports menu, choose Company & Financial, and then click Profit & Loss by Class.

  2. In the Dates field, select This Fiscal Year or enter the dates of your tax year.

  3. 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.)

  4. Adjust the column widths to fit the report on one or two pages.

  5. Click Print to print the report.

To prepare a worker's comp audit report for subcontractors

  1. Go to the Reports menu and click Custom Transaction Detail Report.

  2. In the To and From fields, enter the dates the auditor gave you for the audit beginning and ending dates.

  3. Click the Total By drop-down list and choose Vendor.

  4. Click the Filters tab.

  5. In the Filter scroll box, select Class.

  6. Click the Class drop-down list and choose Subcontractor.

  7. Click OK. The generated report shows each transaction you entered for the year by vendor.

  8. Click Print to print the report.

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