Video instructions and help with filling out and completing Can Form 2220 Billing

Instructions and Help about Can Form 2220 Billing

Hello and welcome to another QuickBooks tutorial with EC QuickBooks training in this tutorial I will be showing you how to enter in a a billing into QuickBooks in a billing looks like this and it's an application for payment with forms G 702 and forms G 703 with the description of work and their schedule of values so we're going to be learning how to enter this information into QuickBooks today the first thing we need to make sure is that we have all the cost codes entered in the items list now if you're a subcontractor it might not be that many but if you're a GC general contractor you may have a lot of cost codes here so we need to make sure that everything is entered we also need to make sure that you have the item called less meet image because we're going to be taking 10% off of the billing union ours is right here and it's going to an asset account so you have to make sure that you have that in your chart of accounts which is right here 10-inch receivable so those are the two things that you have to make sure that you have and that we're all set to start entering the aaaa billing the first step is to create an eso let's close out of here and let's go to a customer center and we want to select a job that you're going to do the AAA billing for in this case I'm going to do awesome job then we're going to go to new estimates I'm going to change the template here I'm going to close the top bar good okay so now we want to enter the codes or the items here and to the amounts now your schedule of values may have a lot of codes but here you only have one line item general requirements so for job costing in QuickBooks we want to put with the schedule of value is for that line item so let's say for general requirements I'm going to do several cost codes and I'm going to show you a trick here to make it so much easier and the last code okay so that is 10,000 down here we could see it's 10,000 so it's easy that's our general requirements but when we start adding the other codes this numbers the total is going to change so what we want to do is put a subtotal right here under the items that we just put so we know that it's the subtotal of general requirements and this will be much easier when we do billing so the next line item is supervision let's enter that in QuickBooks it's 12,000 dollars okay and our next item is site work site work is also one of the ones that you may have several items cost codes in this case I'm just going to use one and it's 100,000 okay and I'm not putting subtotals because I don't have several cost codes like I did before the next item is concrete that was for 20,000 the next one is masonry 12,000 so let's enter that right here okay and the next one is metals I believe that was 20,000 ok let's enter the next one after metals is ceilings let's look for that one ok 6000 next one is painting team it's right there I paint ok nothing new is 6000 as well and the next one is plumbing for 25000 it's 14 and the next one HVAC as you can see this is for a general contractor because we have all trades if you were a sub it would only be the description of your specific trade work and the last one is electrical ok there's a you're 25,000 okay as you can see the amount total change so it's two hundred sixty one thousand which should match and it doesn't match so we're missing something which we see what are we missing supervision is actually sixty thousand so let's change that okay three hundred nine thousand now it matches our AIA three hundred nine thousand so that's our scheduled value now we can enter the billing the progress billing we're going to do which is work in place as you can see this is our first billing there's no previous application sent so what we're going to do is enter a billing for 20 percent and looks all the way down 20 percent of the job and let's go ahead and do that let's save our eand we're going to close and say yes before we start our billing we want to make sure that the progress building is set so let's go to edit preferences jobs and estimates company preferences as you can see it says do you do progress invoicing we have it selected no so let's select yes and click OK ok this has to close windows alright so now we can go back to the customer center back to our job and we can enter our progress billing so we'll select invoices ok and here is our eyou click OK and do we want to do 100% no we're going to do a percentage amount but we're going to select the percentage we're going to click ok so here is the progress billing as you can see nothing prior has been built now we want to do 20% of this so it actually would be 20% for each of these cost codes and that's why doing a subtotal here when you have several cost code makes it so much easier so we know it's 10,000 here so we want to do 20% of seventy five hundred and twenty percent of a thousand and twenty percent of fifteen hundred ok let's enter the numbers here the amount is fifteen hundred two hundred and three hundred and as you can see it was