Streamline Your Contractor Invoice for Sales

Contractor invoice for Sales

another part I really like about QuickBooks desktop is the whole customization of workflow so let me go to the home page here real quick and kind of show you the premise of what I'm talking about let's say for example I start taking in an order and a record an order with a sales order something that I don't have in QuickBooks Online what I have in QuickBooks premier and above and I want to take a sales order for something I'm selling to a client but I'm gonna subcontract that work so I'm gonna go ahead and click on my sales order here and I can have multiple templates some one of the real cool things about this I can have multiple templates and let's say I want to call this a sales order here I'm gonna call it order acknowledgement that I could actually quarter call it whatever I want because as part of my workflow in my industry or whatever order acknowledgement is the typical wording that we use to record an order so I'm gonna go ahead and hit OK and I'm gonna go ahead and book an order acknowledgement for this particular project here this customer this project and what I'm gonna do is I want to create a series of items that are tied to a vendor and by that I mean the items are exclusively used to contract a vendor for that work so for example let's say I want to go to the vendor center here well-well have a sales order open and then I have a vendor here called Miami contractor let's just call it that so we'll call it here Miami contractor and Miami contractor is somebody that we're gonna use as a subcontractor for work so there's Miami contractor and I'm gonna go to my item list here I'm gonna click on the list and item list and I'm gonna click I'm going to create a new item here I'm gonna create a new service item and I'm gonna make that service item a hourly contract labor okay and we point this to one of our consulting income accounts and the key component here I have to make this item a double-sided item by clicking on this service is being used same assembly are performed by a subcontractor and I wanna make that I want to make the preferred vendor in this case that Miami contractor and then I'm not go ahead and hit OK but the key component here is up side to make sure I select an expense account so there's a subcontractor labor cost and I'm gonna hit OK but the key here is I'm gonna use one item called hourly contract labor another one called total my contractor materials so I'm gonna click another one here I want to make it a sack same thing I'm gonna make it a service and then I'm gonna call it contractor materials there we go okay and I'm gonna click up this little same checkbox here and I want to put here on the cost I'll just put one on their sales price I'll put one later on I'll explain why I'm putting the one there but that's really an important piece and I'm gonna have that go into subcontract labor cost as well because I just kind of going to lump-sum the materials for the subcontractor and then I'm gonna go ahead and pick my default vendor they're miami contractor and the income account for this one I'll pick the same income account I have when I charge my client for the consulting let's say these are small and we really don't break down materials and labor but just for the purpose of having the same account there so I'll hit OK so now I have two items in there but now I want to group them and I'll show you what I mean by grouping them I'm gonna go to item I'm gonna click on new and then I'm gonna create a service item and I'm gonna put here Miami contractor so I'm using the contractors name I'm using the contractors name to create a general item here and I'm really not gonna hit the little checkbox I'm gonna put in the description here do not use because I'm not really gonna use that item and I'll show you in a second what I mean by that so let me go back to my in contrarily contract labor I'm gonna go ahead and click on edit and I'm gonna make that a sub account or a sub item Sorina not all accounts a sub item of that Miami contractor group there it is okay and then I'm gonna look for my contractor materials which is right here I'm gonna edit that one and make that one part of my same group here or my same item as a sub item and what I'm doing is I'm just gonna make sure that both of these items which now are our sub items both of these items are pointing to Miami contractor and this one let's say for example I charge my client typically $90 an hour and I pay my subcontractor 45 so this is just a part of the setup not really the the funnest part of it it's a set up but once you set up it works pretty well and then I'm going to create down a group a new item here item type group where basically I'm gonna put all those items together into a single one so I'm gonna put here this one called contractor and I'll put here Miami contractor Corp whatever code I want to use and then here on the item I'm gonna go ahead and break this down and put here contractor labor and then I'll put here the second one which is contractor materials and this stuff's gonna make sense very very soon so I created the two items I made them preferred vendor to my Miami contractor bender I created the item and I created the sub items and I created a group now this becomes really powerful as part of your workflow because as our QuickBooks user you want to be able to put your orders together really really fast so my client calls they make the order for some consulting work that we're gonna go ahead and subcontract so I'm going to click on item here and I'm going to look for that group that I created that's already pre set up for me but it is and basically my two items come in as default which is great and that's a kind of a beautiful thing about the groups and then here this is the rate I'm gonna charge my client and let's say I'm gonna charge my client for 15 hours worth and then their materials and this is key here just because the this rate here doesn't transfer over on the contractor side but the amount order does so here on the rate I'm gonna leave that at 1 and let's say for example I spent a spell above I expect to spend about $500 and materials so this is my my total order here in the description I'm gonna put here total order consulting fees okay and I'm gonna go ahead and click preview just to kind of get an idea for what it looks like for the client it's just one line item that says total order consulting fees 1850 the client gets an order acknowledgement form for what they asked but us internally we know that we have a breakdown here of materials and hourly contract labor and this is gonna make tons of sense in a second because this is the part of the workflow that QuickBooks Online doesn't have that QuickBooks premier and enterprise have that I think is superb so you know we give the client the order acknowledgement they agree they sign whatever happens to be and then what we do is we click on create purchase order so I'm going to go to create purchase order here and then I'm gonna click here where it says create purchase order for selected items and the key here is that if I click this one for selected items it would actually allow me to automatically create the purchase order to that preferred vendor so that's kind of the trick that the reason why it's like the second option is because I want a preferred vendor to be the one that gets chosen by default so I'm gonna go ahead and hit OK here and what's great about this now I got my contractor work order which is basically just a purchase order that I went into the customized layout screen and I changed the name of it the same over the same way so because we're not really purchasing an inventory I'm calling a contractor a work order which makes more sense and also here on the ship - I changed it from ship to - site location because that's gonna make a lot more sense when I give this to my contractor so the great thing about the workflow here that I really didn't have to sit there and type anything this all straight went straight from from an estimate or from a sales order which is the example that I use and here's that my total hourly fee now add my vendor rate and then here on the contractor material notice I did mention right that if I put the dollar amount here and the rate wouldn't move over so that's exactly what I meant so now I can actually go on the rate and and tell my contractor let's say I agree with my contractor that I would charge the client 500 but the contractor will charge me let's say 75% of it so that's why I left the rate that one because then I can just put here Oh point 75 and it will retain my original $500 number here but in the total is 375 and this is actually what I'm gonna pay my contractors there's a real neat thing about the workflow when I go ahead and hit save and close and I'm gonna hit save and close so now I have a sales order and a purchase order both open for that job so I'm going to show you some really nifty reporting tricks here I'm gonna go to reports custom reports and transaction detail and then I'm gonna click on here a date how click on all is that way I'm not really worried about that and here was this total I'm gonna go ahead and go total by customer and then here where it says filters I'm gonna click on posting status okay because we're talking about purchase order and sales order so anytime we want to show a report that is gonna contain any one of these have to make sure that it's a non posting transaction in this case and then we're going to hit OK and they're basically shows me everything that's not posting but I wanna in this case just focus on that particular job there so I'm gonna actually forgot what the job was so let me just double check here and go to sales order and click preview okay that was it Jimenez Carter project 11 perfect so I'm gonna go ahead and go back to my report and I'm gonna click on customize report I'm gonna click on filter then I go down to name and then I'm gonna go down to that particular job only right this is gonna be a report that basically just just tracks my order so what's really cool about this is I haven't even posted a sale I haven't even posted an expense and I already have basically like a profitability report per se right so now I can I really do have an idea of what my total sales are gonna be and what my total costs are gonna be so I find this kind of interesting now it depends on what I want to see if I want to see the details or not I would go to customize report in this case and click on filters and then go to a detail level and then go to all except summary that way I don't see that 18:50 there that's kind of bothering me there so I hide okay that way I only get the actual net amounts and what's neat about this is I can actually build a report that has POS and sales orders and I can actually have parallel profitability projections on top of the actual stuff that post