Our New eBook is out! More than 15 pages filled with Marketing, Accounting, and Production tips, checklists, and best practices that you can use year-round for your construction business success.
Free Download here.

FEA Randal And Train
Call Us At 1-800-361-1770
Bookkeeping Trial Test Drive
Outsourced Accounting
Contractor Bookkeeping Templates For QuickBooks And Xero
Construction Accounting Academy
  • There are no suggestions because the search field is empty.

Easing Your Back Office Burden One Payroll At A Time

Posted by Sharie DeHart on Fri, Feb 02, 2024

As a construction business owner, you have a lot on your plate. You need to manage your employees, oversee projects, ensure compliance with regulations, and keep your clients happy. Amidst all this, you may be tempted to handle your payroll to save costs and maintain control.
 
At face value, it seems like a great idea. If you're a small business owner with just a few employees, you probably think hiring a payroll specialist is an expense you can avoid.
 
You feel that you can handle it yourself. You intend to keep your staff paid right and on time. What could go wrong, right? Well, lots, actually. And before you know it, it's now a costly mistake, and you need to spend more money to make it right.
 
Read More

Topics: Payroll Processing, Profit and Growth Strategies For Contractors, Payroll Options, Payroll For Construction Contractors

How To Manage Your Construction Company Payroll Effectively

Posted by Sharie DeHart on Fri, Jun 30, 2023

Payroll is one of those things that starts simply enough. You start your construction business and hire a few employees, and things tick along. It's straightforward enough to keep everything in line at first, but what happens to most companies is… they grow!

This is a great thing, but it also means that payroll becomes more complicated. As such an essential aspect of your business, payroll must run smoothly. Getting paid is, after all, the primary reason that most people come to work.
 
One of the biggest challenges contractors face is keeping track of overtime hours. With so many employees working on different job sites and projects, it can be challenging to calculate their overtime pay accurately. Complying with all federal and state labor laws is another essential aspect of a construction payroll system. This includes appropriately classifying employees as exempt or non-exempt, withholding the correct amount of taxes from their paychecks, and providing accurate wage statements.
 
Read More

Topics: Payroll Processing, Payroll Options, Do What You Do Best And Outsource The Rest, Contractor Tips, Payroll For Construction Contractors

Construction Company Employee Vs. Contractor - What You Need To Know

Posted by Sharie DeHart on Fri, Nov 25, 2022

Depending on the nature of your construction business, you may have workers who are employees or contractors, or you may have both. Each has its merits, but it's important to review which are to meet your tax obligations.

With so much discussion about employees, payroll, and payroll taxes, you may feel like missing out by not hiring many employees. The reality is that as a small business owner, you do not have to hire employees.

To hire or not to hire employees is one of the few optional things where the business owner can choose, change their mind, and change direction as needed.

When you have an employee, you must withhold income tax and report on additional benefits. Contractors generally look after their tax obligations.

Read More

Topics: Hiring Employees, 1099 Employee, Construction Bookkeeping And Accounting, Contractor Tips, Payroll For Construction Contractors

A Guide To Construction Client Retention

Posted by Sharie DeHart on Fri, Nov 11, 2022

Long-standing customers form the backbone of a robust and well-established business. Make it your mission to ensure that most of your current customers stay with your company for many years.

Understanding the High-Profit Client

Most of them have personality traits commonly known as drivers. Folks accustomed to getting things done quickly and efficiently do not mind paying professionals for servicing, repairing, remodeling, or building new construction projects related to their houses and commercial buildings.

Why it's vital to keep existing customers

Your current customers already have personal experiences dealing with your business and using its services. You won't need to spend much time, money, and energy convincing them to continue hiring you.

Read More

Topics: Payroll Loan, Payroll Processing, Payroll Tax, Payroll Options, Construction Bookkeeping And Accounting, Contractor Tips, Payroll For Construction Contractors

Construction Company Employee Compensation And A Note On Taxes

Posted by Sharie DeHart on Fri, Sep 16, 2022

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses. 
 
When paying employees, laws and the IRS have made the payroll function a time-consuming nightmare for the small business owner.
 
Small business owners spend an average of eight hours monthly performing payroll functions. That's 12 full business days a year that could be spent generating sales, prospecting for new business opportunities, improving products or services, or servicing customers.
 
Read More

Topics: Payroll Loan, Payroll Processing, Payroll Tax, Payroll Options, Construction Bookkeeping And Accounting, Contractor Tips, Payroll For Construction Contractors

Power Up Your Construction Company Payroll Processes

Posted by Sharie DeHart on Fri, Aug 12, 2022

Payroll is one of those things that starts quite simple. You build your construction business, hire a few employees, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is that they grow!
 
However, having an employee is different than when it’s just you meeting the client, doing the work, and collecting the money. The dynamics change when you hire that outside person. You need to be even more cautious when considering hiring a friend or family member instead of a stranger because success has a thousand fathers while failure is an orphan! Success or failure could mean choosing between peace and harmony in your personal relationships or giving away a portion of your hard-earned fruit.
 
 
Read More

Topics: Payroll Loan, Payroll Processing, Payroll Tax, Payroll Options, Construction Bookkeeping And Accounting, Contractor Tips, Payroll For Construction Contractors

The Ugly Truth About Doing Your Construction Company Payroll

Posted by Sharie DeHart on Fri, Apr 02, 2021

Still Doing Your Payroll?

At face value, it seems like a great idea.
 
If you're a small construction business owner with just a few employees, you probably think hiring a payroll specialist is an expense that you can avoid. 
 
You feel that you can handle it yourself. You have the best intentions to keep your staff paid and on time. What could go wrong, right?
 
Well, lots. Here are 3 reasons why you should stop:
 
It's a time waster

If you don't have a finance background, you'll likely spend a substantial amount of time calculating employees' work hours, computing for taxes and other deductions, creating payslips, processing, and filing.

Even if you have a bit of a bookkeeping background, are you sure you want to spend your precious time doing these tasks instead of focusing on your construction business's core aspects?

Read More

Topics: Payroll Processing, The Contractors Account, Payroll Options, Construction Bookkeeping And Accounting, Systems And Processes, Contractor Tips, Payroll For Construction Contractors

Why Track The Construction Company Owner's Time On Jobs

Posted by Sharie DeHart on Tue, Oct 15, 2019

As a construction company owner, you are getting paid, paying someone, or both. Contracting is all about money and taxes. With your job being not only physically demanding but also mentally draining, have you considered valuing your efforts? I understand how challenging it is for you to keep tabs on your employee's schedule, but make sure you also track yours.
 
The primary reason to track Owner's Time On Jobs is to have a more accurate Job Costing Reports. You need to know how much money each job is making or losing. As an employer, you need to adopt the use of a time tracking software to assure accountability and improve productivity in the workplace.
Read More

Topics: Payroll Processing, Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips, Payroll For Construction Contractors

What Every Contractor Needs To Know About Payroll Processing

Posted by Sharie DeHart on Fri, Sep 13, 2019

When it comes to paying employees, laws and the IRS, have made the payroll function a time-consuming nightmare for the small business owner.
 
Small business owners spend an average of eight hours a month performing payroll functions. That's 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers.
 
Getting time cards input into QuickBooks and processing payroll can be a big hassle for your construction company.
 
  • Employee advances and loans that you forget to deduct can drain away your entire profit.
  • Timecards come in late causing payroll to be under enormous pressure to meet direct deposit deadlines.
  • Tracking employee bonuses, reimbursements and garnishments take time and money and can cost your company some serious fines, penalties, and lost productivity if not handled correctly.

Read More

Topics: Payroll Processing, Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips, Payroll For Construction Contractors

QuickBooks Setup And Chart of Accounts For DIY Contractors
Download Our Free App For Construction Contractors

click to download the Contractors APP now from the App Storeclick to download the Contractors APP now from the Android store

Access Code: FEAHEROS

accounting articles

Subscribe by Email

How Can We Help?

 
Contractors Bookkeeping And Accounting Services

Who We Help

How We Help

Next Step

FAQ's

Contractors Bookkeeping And Accounting Services

Outsourced Construction Accounting Services For Contractors All Across The U.S.A. By Fast Easy Accounting 206-361-3950

Serving Construction Contractors
Across The U.S.A
Including Alaska
And Hawaii

Podcast On iTunes
 
Click Here To Listen In iTunes
Contractor  Success M.A.P.
Contractors Bookkeeping And Accounting Services

Remote Access Your QuickBooks  Using Secure Servers

Outsourced Bookkeeping Services For Contractors At Fast Easy Accounting

Highly Recommended by Locals On Alignable

Most Popular Posts

Read the Latest:

Browse by Tag

badge

Blog Suggestion Box

We Remove Contractor's Unique Paperwork Frustrations

Quickbooks certified proadvisor

Xero-Accounting-Services-Fast-Easy-Accounting

Financial-Intelligence-And-Performance-Reporting-Tool-Fast-Easy-Accounting Hubdoc-Document-Collection-and-Management-System MBA Member Fast Easy Accounting 206-361-3950
 
contractor-success-map-podcast-listen
 
Don't forget, you can hire our services at FastEasyAccounting.com
 
 
How To Use Our Services