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Ten Unique QuickBooks Abuses Are Bankrupting Your Construction Company

Posted by Randal DeHart on Fri, Dec 26, 2014


Construction Company Failure Is Always Preceded By Bad Bookkeeping!

Too often contractors are lead down the primrose path into bankruptcy and business failure by relying on inaccurate, false, misleading financial and job costing reports generated from their QuickBooks file.

Three Places Contractors Learn The True Value Of Accurate, True, And Reliable Financial And Job Costing Reports:

  1. When they get sick and tired or working long hours and getting nowhere so they hire a construction accounting firm like ours
  2. When the get a "Wake Up Call" in the form of a bookkeeper who embezzles a lot of money, a huge tax bill or some other major financial surprise
  3. When they realize it is "Game Over" they are out of money and out of places to borrow money and defer payments and heading to bankruptcy
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Topics: QuickBooks Help, QuickBooks For Contractors Setup

Local Vs. Cloud Based Contractor Bookkeeping Services

Posted by Randal DeHart on Fri, Dec 19, 2014


One of the biggest concerns contractors have about outsourcing their contractors bookkeeping to a cloud based contractor accounting service like ours is they think it means sending jobs off-shore rather than keeping your dollars in America where they can help other Americans. In too many cases that is exactly what occurs.

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Topics: Cloud Based Bookkeeping Services, Freelance Bookkeepers, Offshore Bookkeepers

Dan Perry Founder of HandymanStartup.com

Posted by Randal DeHart on Fri, Dec 12, 2014


 The Following Is An Outline From Dan Perry's Guest Appearance On The Contractors Success M.A.P. Podcast which you can listen to below. It is on iTunes, Stitcher Radio, Pocket Casts and all popular podcast directories.Dan Perry is the founder of HandymanStartup.com - a community dedicated to helping handymen, plumbers, electricians, and contractors understand business and marketing so they can get more customers, make more money, and enjoy their businesses.  Connect with him at www.handymanstartup.com or on twitter @bigdhandyman

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Does QuickBooks Frustrate Your Construction Company?

Posted by Randal DeHart on Fri, Dec 05, 2014


Does QuickBooks Frustrate You? If You Answered "Yes" You Are Not Alone!

99.99% of all QuickBooks Issues can be traced back to two root causes:

  1. How QuickBooks setup was done originally
  2. How transactions are put into QuickBooks

QuickBooks Makes Construction Accounting

Look Easy As Microwave Popcorn

How many advertisements have you seen by Intuit, the maker of QuickBooks that makes it appear like accounting is so simple a five year old can do it. The truth is Intuit is a sales and marketing firm that sells and markets software. And QuickBooks is one of the big winners for them because it has removed a lot of the pain associated with accounting; but it is still accounting and certain principles still apply. For example "Debits" are on the left and when they are not we give them "Credit".

When you write a check in QuickBooks you can impact up to 27 different tables and hundreds of reports which means in the end there are thousands of things that can go wrong. Even those of us with a deep background in accounting have known for years there are several things QuickBooks allows users to do which can lead them down harmful paths. One of the worst ideas ever in the history of QuickBooks is putting your bank and credit card account numbers inside QuickBooks. I suspect this was done in response to users asking for it. 

Don’t assume that QuickBooks will keep an uninformed bookkeeper or user for making mistakes and don't assume it will stop your from doing something that will cause financial harm to your construction company because it WON'T! Understand that QuickBooks is just a tool like a hammer is a tool and hammers do not know which nail to drive into which piece of wood. 

The problem is that bookkeeper not trained in construction accounting don’t know which nails to drive where inside QuickBooks so they just start “hammering” and causing untold damage. What happens too often is they open the box, load the program, and start using it without help or guidance. This works fine for small phone apps, games and programs, like Publisher because if you make a mistake in Publisher the damage is limited to only one file. You can see and immediately correct your mistake and it doesn't impact your taxes, job costing reports, obtaining a loan, or running your construction company!

But if you or your contractors bookkeeper makes mistakes in your QuickBooks for Contractors file it might be months or years before anyone finds it and only then if they know what to look for in the financial and job costing reports to know if they are seriously wrong.

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Topics: QuickBooks Contractor Template

QuickBooks Setup And Chart of Accounts For DIY Contractors
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