You finish a kitchen remodel. The client is pleased, the crew has moved on, and the last bill is paid. Before you price the next kitchen, you want to know what this one earned.
Foreman holds the job detail: your budget, bills, crew hours and client payments. Its QuickBooks Online sync carries supported bills, invoices and payments into your books. Your bookkeeper can then use those records to check job costs, close the month and help you plan cash.
One job. A clear path to the books.
- 01 / Foreman Track the job Budget, bills, hours and client payments.
- 02 / QuickBooks Check the books Your bookkeeper checks synced records, payroll and bank activity.
- 03 / Financial reports Plan the next move Review profit, cash needs and the next bid.
Which Foreman numbers feed your books?
Open a project budget and look at the records behind each total. A few fields help you and your bookkeeper follow the work.
Budgeted Cost and Approved Price: Budgeted Cost is the cost tied to the client agreement. Approved Price is the selling price. The gap between them is the planned job profit. Keep both in view when you check a bid. Foreman’s budget guide shows where to find them.
Committed and Committed Budget Remaining: Committed tracks accepted vendor orders. Committed Budget Remaining is Budgeted Cost minus Committed: the agreed budget you have not yet promised to vendors. Some committed work may already be billed. Check the order and bill detail to avoid counting the same cost twice. See Foreman’s project costing guide.
Actual Cost: Foreman’s current guide includes approved vendor bills and approved labor in this total. A bill can count before you pay it. Paid Cost tracks vendor-bill payments separately. The project costing guide explains these fields.
Invoiced and Collected: These show what you billed and what clients paid. The gap is called Receivable: money clients still owe. You can see these totals by job and across the business in Foreman’s budget reports.
Keep each bill linked to the right job and budget line. Then your bookkeeper can trace a total back to the work behind it. They also check how each cost belongs in the books. For example, a tool bought for several jobs may need different treatment from lumber used on one job.
Use job results to improve the next bid
Foreman shows planned and projected profit for each job. “Projected” means where the job is headed based on the records so far. At closeout, check that all costs are in before treating that number as the final result.
Look for patterns across similar jobs. If framing runs over on several remodels, check the details. The cause could be more hours, higher wages, a scope change or extra trips for materials. Each calls for a different fix.
This is also a good time to check margin and markup. Margin is profit as a share of the selling price. Markup is the amount added as a share of cost. Foreman lets you work with either. Its margin and markup guide explains how the fields relate.
Where does the $100,000 go?
24% margin
- Direct job costs
- $76,000
- Company overhead
- $22,000
- Left before tax*
- $2,000
Owner pay needs care here. Some owner wages may already be in job costs or overhead. An owner’s draw is not an expense. Count each cost once before deciding what the business earned.
Check crew costs against payroll
Foreman’s Time Cost uses approved hours linked to budget lines. It prices them at each worker’s standard and overtime rates. Those rates should include the costs you have chosen to load into labor. Foreman’s time-cost guide explains the setup.
A burdened rate means the wage plus other costs of employing that person. These may include payroll taxes, workers’ comp and benefits. Decide what goes in the rate, then use that same basis when you check the books.
Start with one pay period:
- Pick the same workers and dates in both tools.
- Match approved job hours to payroll hours.
- Check overtime, paid time off and hours without a job code.
- Compare the taxes and benefits included in each total.
- Explain any difference before changing the rate.
A mismatch does not always mean the rate is wrong. One report may use work dates while the other uses pay dates. Shop time may need its own code. A missing entry may belong to a job rather than overhead.
Review rates when wages or benefits change. Foreman keeps rate snapshots on existing entries, so changing a worker’s rate does not simply rewrite past costs. See its labor costing guide.
Turn job records into a cash plan
Start with the cash in the bank. Then list what clients are likely to pay and what the business must pay out, by week.
Foreman’s client balances and unpaid bills help build that list. Add dates from the agreements and vendor terms. Include payroll, rent, loan payments and tax payments too. Use remaining vendor commitments to look ahead, without adding bills already on the list a second time.
The due date doesn't pay the crew.
- ThursdayPayroll goes outYou need cash on hand.
- FridayClient invoice is dueThe payment has yet to arrive.
- MondayClient cash arrivesNow it's available to spend.
Give each deposit a clear record
Foreman lets you record a payment on a saved invoice before you send it. Keep the deposit tied to that invoice and job. Its deposit guide explains the steps.
A deposit may help fund materials, but the bank balance alone does not tell you the profit. Your bookkeeper should check the agreement and the method used for your reports. In accrual books, advance payments for work not yet earned generally remain a liability. Cash-basis and tax treatment can differ.
Ask your tax preparer how to report the payment. Advance payments are generally taxable when received, with some rules that allow a delay. A refundable deposit may need a different review. IRS guidance on accounting methods explains why the method matters.
Set up the Foreman QuickBooks sync together
Bring your bookkeeper into the setup. Foreman’s QuickBooks Online sync guide covers the records and settings in detail. These are the choices to work through first:
- Cost codes: Match them to the right QuickBooks Products and Services. Check which accounts those items use.
- Payment accounts: Set where client payments go and where vendor payments come from.
- Tax settings: Check the sales-tax setup with your bookkeeper.
- Start dates: Agree which records should cross into the books. Review old records before bringing in history.
- Error notices: Choose who receives them and who will follow up.
Test a small set of records before you move on. Check the job, vendor, amount, date and account in each tool. Include a bill and its payment, so you can see how they fit together.
If a record is already in QuickBooks, check how it is linked before entering it again. A short test now is easier to review than a full month of records later.
Read the results in your financial reports
Once the records are checked, your bookkeeper can use them in three reports. Each answers a different question:
Profit. Position. Cash.
Ask for a job-cost view alongside those reports. Review the same dates and use the same cost rules. You want to be able to follow a bill from the job to the books, then explain what it means for the business.
Use clear books to prepare for tax planning
Current books give your tax preparer facts to work with. They help you check owner pay, plan purchases and discuss retirement contributions while there is time to act.
Keep the records that support those choices. Job profit alone does not set an S-Corp owner’s reasonable pay. That review also needs the owner’s duties, time and comparable wages. See the IRS rules on owner pay.
Expense claims need support too. For an accountable plan, the expense must have a business purpose. The employee must account for it on time and return any excess payment. A cost code helps sort the record; keep the receipt and purpose with it. IRS reimbursement rules give the details.
Need a place to start? Use our contractor tax scorecard to flag topics for a discussion. Enter your name and email to access the 15-question scorecard. Bring your results to your next tax planning meeting.
Agree who checks what each month
A clear list of tasks makes the work easier to share. Use this as a starting point with your bookkeeper:
Each week: Your team approves hours, checks bills and sends invoices. The person handling the books reviews sync notices and asks about records that need more detail.
Each month: Your bookkeeper matches the books to bank and card statements, checks payroll and reviews balances. You review job results together. Mark a budget line final only when its costs are settled and no more spending is expected.
When plans change: Review rates, prices and the cash plan. Bring tax questions to your preparer early. The right deadline depends on the step you want to take.
For your first review, pick one finished job. Have the client agreement, vendor bills, hours and payment records ready. Check the job totals against the books and write down what needs to change for the next one.
If you want help with that work, see our bookkeeping and tax support for residential and light commercial contractors. We can discuss how your Foreman records fit into the books and the support your business needs.
Frequently asked questions
How do Foreman and QuickBooks Online work together?
Foreman can share invoices, vendor bills, payments and other supported records with QuickBooks Online. Your sync settings control what moves between them. Your bookkeeper then checks those records against payroll, bank activity and the rest of the books.
Is Budgeted Cost the price my client agreed to pay?
No. Budgeted Cost is the cost tied to the accepted client agreement. Approved Price is the selling price. Keep them separate when you check the profit on a job.
Why might Foreman labor costs differ from payroll?
Foreman uses approved job hours and the labor rates you set. Compare the same workers and dates in payroll. Check paid time off, overtime, taxes, benefits and hours that still need a job code before changing a rate.
How should I handle a client deposit in the books?
Keep the payment, invoice and job linked. Ask your bookkeeper how the deposit should appear in your reports and tax records. The answer depends on your accounting method and the terms of the payment.
What should I check before starting the QuickBooks sync?
Review cost-code mapping, payment accounts, tax settings and the start dates with your bookkeeper. Test a small set of records. Compare the totals in both tools before bringing over more history.
Start with one finished job
Check its bills, crew hours, client payments and costs in the books. Work through any differences with your bookkeeper. Then use the same checks each month, so your next bid starts with costs you can trust.