There are a great deal of similarities between QuickBooks for architects and QuickBooks for engineers. The business models are very similar in terms of the accounting. Both professions need to track time, pay people based on that and then bill customers based on that. In both cases, you are looking at having employees and sub-contractors doing the work.
I would encourage engineers to read the series and watch the videos on QuickBooks for architects. Almost all, if not all of it will apply to them. Here we’re going to focus on some things that I didn’t focus on in that series.
For starters, I want to take a deep look at the chart of accounts. So we’re going to set up a new QuickBooks file and then take a look at the chart of accounts. We’ll see how to include account numbers or choose not to. We’ll also see how to create and edit accounts in the chart of accounts. Then next week, we’ll get into how to post transactions and understand where that will affect your balance sheet, and profit and loss statement.