Use Custom Homebuilders' Solutions (CHS) accounting and job costing software to post self performing labor, or in-house labor, both as wage amount to the employee and then as a higher amount to job costs to use for billing a Costs Plus customer for the home that is being built. The video below demonstrates how CHS will create the necessary payroll journal entry for you, and uses having an in-house Cabinets department as an example. It will also show how the job cost will show up on a Draw Request billing to the customer.
CHS Document Storage And Uploads
In CHS, see how you can store your documents and attach them to jobs, or trades and suppliers, etc. Quickly send a short url link to your docs or photos and send them to someone else in an email. Print pdf reports that have active links to related uploads, like job cost reports with links to uploaded bills from vendors. Upload and store plans, copies of bills and bids from trades and suppliers, photos for your customers, etc., etc. ALSO, CHS will store hard copies of your PO's, Change Orders, Draw Requests, etc.
CHS Tackles The Complex & Unique Construction Accounting Needs Of Home Builders
From Carol King, the developer….. “TO YOUR ACCOUNTING TEAM: I have been there and can totally relate to setting up a system of workarounds and Excel spreadsheets to deal with all the number-crunching needs of home building. AND that you DO NOT want to rattle your system by changing software. I was the same way when I worked as a controller for a home builder.
The Difference Between Markup And Margin
Many home builder consultants will tell you that knowing the difference between a Markup Percent and a Profit Margin Percent is key to having a successful home building business. It’s super important to understand that a MARKUP PERCENT is NOT the same thing as a Profit MARGIN PERCENT (sometimes called a Gross Profit Percent)! I have also heard consultants say, “If you don’t understand the difference, then it’s costing you money!