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Posted by Chips on August 21, 2006, 3:58 pm
Please log in for more thread options Thanks, I will check this out.
I also found that I can really easily change the "customer" on a job. So I
just set up the buyer as a customer, then edited the job (the house we built
and then sold) and changed it's customer to the buyer.
And thanks for answering with some concept of assistance rather than how
some people respond in this NG.
GC
> Individual houses you are building should be set up as jobs. See this
> website: http://www.quick-training.com/. It is a good source of
> information. Go to her "Resources" page and download her .pdf files on
> holdbacks and job costing. This is what we used to get our company up
> and running. Good luck.
>
> Cat
>
>
> Allan Martin wrote:
>> > Using QB Contractor 2006.
>> >
>> > I'm not quite sure how to set things up in QB on the house we just
>> > finished building and then sold.
>> >
>> > First, I had "us" (our company) set up as a customer. Various houses we
>> > are working on are under this umbrella customer.
>> >
>> > I'm not sure now that this was the best way to do it, but maybe it was.
>> >
>> > Now that one has sold, we got a check as a down payment, then a bunch
>> > of
>> > money went into escrow. Escrow then pays off some of our bills, a bunch
>> > of
>> > closing costs type of things, then the remainder goes to us.
>> >
>> > The buyer, Jill, now becomes the customer, not our company.
>> >
>> > I'm not sure how to enter all this in. I'm thinking of making escrow a
>> > "bank" account, as it simply holds money until it spends it all, then
>> > it's
>> > gone. The same escrow "bank" account could serve for multiple house
>> > sales
>> > over time.
>> >
>> > But It doesn't seem to quite fit now, having us a customer. It's more
>> > like
>> > we built a product and sold it to a customer.
>> >
>> > Any suggestions?
>>
>> See an accountant.
>>
>> >
>> > Thanks,
>> >
>> > GC
>> >
>
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