In this episode of BDR's Prime Resources Podcast, Lead Accounting Coach Lauren Woodward discusses the Profit and Loss by Job report in QuickBooks®. She explains its significance in job costing, performance indicators, and real-time insights for contractors.
Follow along as the conversation covers accessing the report, the differences between QuickBooks® Desktop and Online, and best practices for reviewing the report.
Listen as Lauren emphasizes the importance of having an accounting coach to help implement and utilize this powerful tool effectively.
Time Stamps- 00:00 Introduction
- 02:06 Overview of the Profit & Loss by Job Report
- 03:24 Benefits of Using The Report
- 05:32 Reporting and Prime Performance Indicators
- 10:05 Accessing the Report in QuickBooks®
- 13:26 Incorporating into the Month-End Process
- 15:50 Who Should Be Involved in Reviewing Reports
- 17:08 Common Pitfalls and Best Practices
- 19:57 Final Thoughts and Implementation Tips
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