Building Your Chart of Accounts on the NAHB Model
Two Reasons to Use the NAHB Chart of Accounts
There are a couple of reasons to consider using the NAHB Chart of Accounts structure.
- Since this structure is from the national organization serving its builder-members, one can expect to have a comprehensive listing of all the line items which may be needed by a construction operation. And, indeed, the NAHB Chart of Accounts is comprehensive with more than 400 available line items.
- Using the same structure as the NAHB suggests, and which many other builders will adopt, allows you to benchmark your company performance against an aggregate of your peers, all of whom are using the same chart of accounts. The uniformity of the accounting systems will provide you with the ability to compare your company with other builders to measure your performance and see where you need to improve or where you lead the field.
With that in mind, the following sessions look at how the NAHB Chart of Accounts is put together, how it can be used in a construction business, and how to implement the Chart of Accounts in a Quickbook accounting system.
As a bonus, I’ve added sessions covering how to import and use the NAHB Cost Codes provided in the download as well.
Video length – 2:18