We realize that accounting in the construction industry can be overwhelming for a home builder.  SO, we try to provide information to educate and help you through the process!

ACCOUNTING METHODS: 

CHS can handle Accrual, Percentage of Completion OR Completed Contract accounting methods.  CHS also has information reports that make it easy to prepare Cash method financials statements.

For excellent seminars regarding accounting methods for builders OR for quality management consulting services, visit this web site:  SMA Consulting

CHS 2006 Movies:

• Accounting Methods Lesson (Cash, Accrual, Completed Contract, or Percentage of Completion?)  

See other tutorials about Percentage of Completion farther down this window.

Accounting Methods Printout:

• Accounting Methods Printout

• Suggested Accounting Procedures

• Accounting Methods For Profit Recognition

Load the Chart of Accounts (General Ledger Accounts) that are recommended by NAHB OR a "simpler" Chart of Accounts prepared by CHS.   Edit and delete these as needed for your own company.  OR, you can set up your own Chart of Accounts from scratch.

CHS is very flexible to suit your company needs.  Load Financial Statement Sections and Headings at the click of a button and edit them as needed. 

Set up DEPARTMENTS (DIVISIONS) to track profit centers.  Financial Statements, General Ledger, Cash Flow Statements, etc. can be printed for selected Departments.

PRIOR PERIOD DETAIL:

Use special "Prior Period" screens to post prior period unpaid or paid costs.  This screen will not interfere with your Balances Forward for accounting.  Post only the paid costs needed for historical review of jobs.  There is also a Prior Period Deposits screen to capture the detail of deposits included in your Balances Forward.

CHS 2006 Movies:

• Setup or Load Chart of Accounts

• Chart of Accounts Management Window

• Setup Departments (Profit Center Divisions)

Sample Charts of Accounts:

Remember!  You can set up your own from scratch OR load and edit the ones shown below.

• NAHB Recommended Chart of Accounts

• CHS "Simpler" Chart of Accounts (loosely based on NAHB recommended accounts)

CHS 2006 Help Documents:

• Setup or Load Chart of Accounts

• Chart of Accounts Management Window

• Setup Departments (Profit Center Divisions)

Set up Financial Budgets.  Print Income Statements that compare to Budget

• Financial Budgets - for whole company, AND by department

Movies for Prior CHS Program:

• Financial Budgets - for whole company, AND by department

• Financial Budgets (By Department or Whole Company)

Balance Sheets and Income Statements CAN be set up to gather and total numbers based on YOUR company needs.

ALL Financial Statements (and ALL reports in CHS) can be sent to Microsoft Word to format and edit as needed.  You are not limited to the style and fonts that CHS uses for the reports.

INCOME STATEMENT COMPARISONS: Print Income Statements that compare to Prior Selected Periods.   Print Income Statement spreadsheets with 12 monthly columns.

• Trial Balances

• Balance Sheets

• Income (Profit and Loss) Statements and Spreadsheets

• Trial Balance - Year To Date

• Trial Balance -  For a Period

• Trial Balance-Summed by Job

• Trial Balance - By Job, Then GL

• Trial Balance - Summed by Dept

• Balance Sheet Detail

• Balance Sheet Summary

• Income Statement Detail-YTD

• Income Statement Summary-YTD

• Income Statement for Period

• Income Statement Comparisons

• Income Statement - 1 Job

• Gross Profit Spreadsheet

• Financial Statements:  

Quickly review accounting records based on a variety of criteria selections.   Review records for one G/L Account number, for one vendor and all G/L numbers, for one job and all G/L numbers, and so much more!

General Ledger Transaction Reports s can be grouped by:

• G/L Account number
• Vendor
• Job
• Quarters or Months
• Cost Categories
• And More!

ACCOUNTING UTILITIES - View accounting records database.  If you need to fix something behind the scenes, we can help!

• General Ledger Transactions Review

• General Ledger Transactions Reports

Movies for Prior CHS Program:

• Quick General Ledger Review

• General Ledgers

• General Ledger - Grouped by Account Number

• General Ledger - Grouped by Vendor

• General Ledger Transactions Review and Reports (Grouped and Sorted In Many Ways)

To post entries to your books that are not posted using other screens in CHS, you can use the Add or Edit Journal Entries window.

• Add/Edit Adjusting Journal Entries

• Journal Entry Reports

• Journal Entries Report

• Adjusting Journal Entries / Journal Entry Reports

NOTE:  CHS is very flexible!  Use the accounting method most suited to your business, whether it is simple or more comprehensive.  Percentage of Completion is highly recommended but is NOT required by CHS.

1. Accounting Methods Lesson (Cash, Accrual, Completed Contract, or Percentage of Completion?)     

2. Percentage of Completion Report

3. CHS Percentage of Completion Profit Recognition  (automated journal entries)

4. Percentage of Completion Contra Accounts on Balance Sheet

Movies for Prior CHS Program:

1. Accounting Methods Lesson (Cash, Accrual, Completed Contract, or Percentage of Completion?)     

2. Percentage of Completion Report

3. Percentage of Completion Profit Recognition  (automated journal entries)

4. Percentage of Completion Contra Accounts on Balance Sheet

• Percentage of Completion Report

• Percentage of Completion Reports and Automated Entries

CHS has screens that will gather balances for a job AND help you create a closing journal entry for the job.  It also provides screenshots and instructions for posting that Closing Deposit!

• Preparing to Close Job

• Posting the Job Closing Deposit and Closing Costs

• Closing Total Job Revenues and Costs to the Income Statement

Movies for Prior CHS Program:

• Preparing for the Job Closing

• Posting the Job Closing Deposit and Associated Closing Costs

• Closing Total Job Revenues and Costs to the Income Statement

Reports To Help With Job Closing:

• Trial Balance for a Job

• Contract Balance Report

• Closing Deposit Screenshot

• Income Statement for a Job

• Job Closing Journal Entries - CHS gathers the numbers for you!

CHS is date sensitive.   Close books when YOU NEED TO!   Continue to produce Financial reports for prior periods.

The 'Suggested Accounting Procedures' at the top of this list includes suggested procedures and reports for "proving" your numbers at year end!

• Closing Books at Year End

Movies for Prior CHS Program:

• Closing Books at Year End

• Year End Closing Help Windows and Automated Entries