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Have you ever wanted to better understand how to use QuickBooks effectively but haven’t had the time to really dive into it?

Most contractors are probably in the same boat.

Our anecdotal guess is that north of 85% of our Members use QuickBooks as their bookkeeping software. But there is so much the platform can do, it’s hard to know if you’re using it “right.” Or to its full potential.

So… we thought it would be cool to have someone from QuickBooks come on and teach us how to get the most out of it.

Nate Flake is the Senior Partner Development Manager at Intuit (the makers of Quickbooks) and he also hosts their Constructing Growth Podcast. Today, we’re going to unpack 10 crucial QuickBooks mistakes contractors often make and how to avoid them moving forward.

00:00 - Intro
02:16 - How QuickBooks got so huge
06:38 - 1. Improper Setup
12:19 - 2. Neglecting Job Costing
17:05 - 3. Incorrect Use of Accounting Methods
18:50 - 4. Overbilling and Underbilling
21:44 - 5. Inadequate Tracking of Work in Progress (WIP)
24:13 - 6. Not Using Third-Party Apps
28:12 - 7. Ignoring Financial Reports
30:22 - 8. Mishandling Payroll
33:01 - 9. Mishandling Payments
37:31 - 10. DIY Bookkeeping
40:19 - How to know if you’re on the right QuickBooks product

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