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Best Practices for Time & Cost Tracking

You’ve heard the saying, “time is money.” But it’s another matter to understand how to track time (minutes, hours, days) and why it’s important to convert it to money (dollars). This session will address a few best practices in time and cost tracking for remodeling businesses. You will learn basic approaches to recordkeeping that will help you to capture staff time accurately and to produce financial reports effectively. A few specific areas will be covered:

  • Fundamentals of staff time clock
  • Different time clock options
  • Staff compliance and efficiency
  • Review of basic transactional accounting (bookkeeping) terms
  • Relationship between time cards and Quickbooks chart of accounts
  • Important financial reports produced by Quickbooks
  • Time and cost tracking impacts on estimating and profitability
This 90-minute session (60-minute presentation, 30-minute Q&A) is intended for an owner or manager who wants to implement a new time tracking system and improve your basic comprehension of financial reports. This session might be helpful to an immediate user whose existing system isn’t producing the output you need.