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    Bookkeeping And Accounting Solutions For The Busy Contractor

    Posted by Sharie DeHart on Fri, May 17, 2019

    The calls, emails, messages, and walk-ins that our company deal with every day come from construction contractors, spouses or significant other, construction bookkeepers, advisors, students, and financial planners among others. I do my best to offer support even if it does not lead to an immediate request for our services.

    The pressures of running a construction company are tremendous. Incoming money is usually unknown, but expenses and bills are due now. You are not alone; many contractors feel the same way. Owning a construction company is so much different from just working for another construction contractor, and in most cases, new contractors had no idea what is involved in the business end of the operation before they started.



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    Topics: Contractors Bookkeeping Paperwork, QuickBooks For Contractors, Construction Bookkeeping, QuickBooks Setup Do It Yourself, QuickBooks Construction Accounting, Assisted Do-It-Yourself Contractor Bookkeeping, Painless Paperless Contractor Bookkeeping Services

    Free Offline Marketing Ideas For Brand New Contractors

    Posted by Norhalma Verzosa on Tue, May 14, 2019

    Yes, I know, as a Web Content Developer and Fast Easy Accounting’s resident Webmaster, this blog post could come quite a surprise to you but bear with me on this. I realized that writing about Online Marketing Trends and the power of Inbound Marketing doesn’t obviously support a more traditional way of marketing, but I am taking this topic head on to bring you a different point of view. In this day and age, despite the steady growth of the web, still, about 10% of U.S. adults do not use the internet - that means not all your target clients are online. This is an opportunity for you to implement some offline marketing methods to add to your overall promotional strategy.

    If you’re just establishing your contracting business, have no office support or crew to assist you, and looking for ways to promote your company without spending a lot of money in advertising costs, then this could be the answer you’re looking for. If you’re a seasoned contractor and just want to do more networking in your spare time, this can also work for your company. Notice I mentioned “free” – however, this is going to cost you a bit (or more) of your time and effort (perhaps gas). Consider having a marketing budget if you want to take it up a notch and optimize your plan. For now, take out those box of business cards and shove it in your glove box and let’s get rolling:

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    Topics: Marketing Ideas For Contractors That Work, Contractor Marketing, offline marketing for contractors

    Proven Tax Reducing Opportunities For Your Construction Company

    Posted by Randal DeHart on Fri, May 10, 2019

    Accounting has two sides:

    Internal Accounting (Management Accounting) - for making money. Its purpose is to help you operate and grow your business profitability.

    External Accounting (Tax Accounting) - for paying taxes. Its purpose is to prepare tax forms, report your income, and make sure you pay your fair share of taxes.

    Understanding the difference will impact your company's financial health and wealth. Both groups of accountants must know the relationship between your internal bookkeeping and the Internal Revenue Service, and the importance of paying the right amount of taxes. There are a lot of professional bookkeepers, accountants, and tax preparers and they all serve a different role in your business.

     

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    Topics: Contractor Sucess, Contractor Tips, Contractor Operating Tips, Construction Productivity

    Paperwork Processes Particular To Construction Contractors

    Posted by Sharie DeHart on Tue, May 07, 2019

    One of the biggest struggles contracting business owners deal with is the overwhelming amount of paper they have to organize as part of their everyday tasks. Invoices, receipts, bills, contracts, client records, pay applications, insurances, licenses - are just among the few in the seem to be never ending "etc". Keeping important documents is necessary. Most contractors go from one extreme to the other. One extreme is saving everything for decades, and the other is tossing everything out.

    What to save? What to toss out? At Fast Easy Accounting, we no longer need to print and save every document in file folders and keep adding new file cabinets. Our paperwork processes ensures your happiness and peace of mind knowing that your papers can be retrieved electronically at any time in the future.



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    Topics: Contractors Bookkeeping Paperwork, QuickBooks For Contractors, Construction Bookkeeping, QuickBooks Setup Do It Yourself, QuickBooks Construction Accounting, Assisted Do-It-Yourself Contractor Bookkeeping, Painless Paperless Contractor Bookkeeping Services

    Construction Company Technology Practices To Reduce Financial Management Cost

    Posted by Randal DeHart on Fri, May 03, 2019

    There is a thread of success weaved into the fabric of the most successful, wealthiest, consistently most profitable house builders, general contractors, residential remodel contractors, flipper house contractors, commercial tenant improvement contractors, sub-contractors, specialty contractors, handyman, architects and designers and over 100 other types of contractors and construction-related companies - they adapt to a continually changing environment.

    Everything in the Universe is in balance, and parts of it are easy to see and understand and some parts are hidden in plain sight and require some effort to see and understand. Your ability to look beyond the initial statement and understand the hidden meaning why successful contractors adapt to change to survive and thrive will serve you well. The truth is the most successful, wealthy, highly profitable construction contractors don't like change.

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    Topics: Contractor Sucess, Contractor Tips, Contractor Operating Tips, Construction Productivity

    Cybersecurity In The Construction Industry: Common Concerns And Solutions

    Posted by Justin Havre on Tue, Apr 30, 2019

    Today's Guest Article Is From Justin Havre

    The construction industry has long been a target of criminal activity. The theft of tools, equipment, and supplies is an issue both large and small companies need to deal with in some way. Many construction companies have responded with greater on-site and perimeter security, equipment tracking devices, video cameras and more. But what can these businesses do when the target of criminal activity isn't the physical job site?

    Like other industries, construction companies are now facing the increasing threat of cybercrime. Why are construction companies being targeted? Why are some companies more vulnerable than others? The following information can help shed some light on these issues, give examples of cybersecurity threats, and outline the steps that can be taken to make a construction company more secure.

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    Topics: Contractor, Contractor Operating Tips, security, cybersecurity, data protection

    Job Costing For Small Construction Companies - The Key To Profitability

    Posted by Randal DeHart on Fri, Apr 26, 2019

    Job Costing, in its simplest terms, links the money you spent on a job against the money you received to do a particular job. It is the process of tracking all the costs related to a project to determine its profitability.

    A common misconception is that Job Costing is only for large contractors with a dozen employees. Since keeping track of all costs and expenses involves a lot of additional work for contractors and field workers, and most construction company owners do not see an immediate benefit, some contracting businesses still haven’t implemented Job Costing procedures despite the financial risks.

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    Topics: Job Costing, Job Costing Reports,, Contractor Sucess, Contractor Tips, Contractor Operating Tips, Construction Productivity

    Improving Productivity Solution That Works

    Posted by Randal DeHart on Tue, Apr 23, 2019

    Our winning strategy talks about Marketing as the foundation, Accounting as the center of your construction business, and Production where the rubber meets the road, or if you please, this is where all the planning and support structure pays off.

    Some contractors and construction company owners believe in maximizing production by driving everyone from the laborers to the Project Managers to work harder, longer, faster, hustle and run. And if they are giving less than 110% to the company they are not doing enough. You may have different opinions on this but one thing I've learned from experience is that construction meeting process increases productivity.

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    Topics: Contractor Sucess, Contractor Tips, Contractor Operating Tips, Construction Productivity

    5 Common Security Questions Contractors Ask Before Hiring Our Service

    Posted by Randal DeHart on Fri, Apr 19, 2019

    Right now, if you are like most construction company owners, your construction accounting records are in an unlocked file cabinet, or worse, sitting on someone's desk. As an accounting firm, our client's privacy and security remain our top priorities and are continually looking at ways to develop and evaluate our system to prevent breach and network holes. We utilize 128-bit Secure Socket Layer encryption which ensures that all data passed between the web server and browsers remain private and integral. There are two levels of restrictions and passwords must be entered before you can get your data file.

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    Topics: Xero Accounting Online Advisor For Your Constructi, Xero Accounting, construction suppport, Contractor Sucess, Contractor Tips, Contractor Operating Tips, security

    Take The Stress Out Of Identifying Cost Of Goods Sold And Other Construction Accounting Confusions

    Posted by Sharie DeHart on Tue, Apr 16, 2019

    Contractors often ask us if they can buy our Chart Of Accounts with Cost of Goods Sold and import them into their QuickBooks Desktop file or their QuickBooks Online file. The answer is yes!

    Click here for QuickBooks Desktop Chart of Accounts with Cost of Goods Sold

    Click here for QuickBooks Online Chart of Accounts with Cost of Goods Sold

    Direct Costs are tied to the jobs (field labor, material, and other cost items) Office material (pencils, paper, toner, etc. are overhead) Yes, an accountant could say these many pencils are used in the field, and that notepad is used in the truck. 

    The answer is the dividing line of what the DIRECT COSTS to the job and those are Cost of Goods Sold (COGS).

     


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    Topics: Invoicing, We Know Construction Accounting, QuickBooks For Contractors, Construction Bookkeeping

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