Construction account: Trying to clean up books from previous bookkeeper. Direct Construction account is much larger than it should be. I think it’s due to the way she’s been closing out jobs.
WIP is normally an asset account named for the job, you are building up the value of something.
as a general concept ….
Post the job purchases to the WIP account (whether you use a bill, or just pay for them is immaterial)
Customer payments should post to a deferred income account, typically […]
Resolution for 'Construction account issue: 'Trying to clean up books from previous bookkeeper. Direct Construction account is much larger than it should be. I think it’s due to the way she’s been closing out jobs.' available: Yes.
The Construction account issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the Construction account issue yourself by looking for a resolution described in the article. If it is a complex Construction account issue or you are unable to solve the issue, you may contact us by clicking here or by using other Construction account support options.
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