Use promo code PODCAST for 20% OFF QuickBooks Setup And Chart Of Accounts Templates
in our 
Fast Easy Accounting Store and online courses at Construction Accounting Academy.

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

    Contractor Bookkeeping In Ten Minutes A Day Using QuickBooks

    Posted by Sharie DeHart on Fri, Jan 15, 2021

    Each contractor type has unique construction accounting needs, which means if the QuickBooks process is custom-fitted to each construction company's needs, it is a beautiful thing.

    We have listened as our contractor clients have described to fellow contractors how "fast and easy QuickBooks is and what wonderful reports it generates," while the other contractor will tell in no uncertain terms what a piece of junk it is. The difference is in the QuickBooks set up. Two woodsmen will cut and stack vastly different firewood piles in a day if one uses a chainsaw as it was intended and the other uses it as a cross-cut saw. Same tool, different result!

    QuickBooks users are generally not stumped by the software; they are confused by the accounting information necessary to complete the transactions. Quick access to correct information is essential to maintain the accuracy of your financial records.

    There are no limits to the number of items that can be entered into QuickBooks improperly. Messy files build transaction by transaction or merely put invoice by invoice, receipt by receipt can all be entered into QuickBooks incorrectly. No pop-up will say, "This Is WRONG" – Do It Over.

    Read More

    Topics: Ten Minutes A Day To Increased Construction Profit, The Contractors Account, Construction Bookkeeping And Accounting, Systems And Processes, Contractor Tips

    Hidden Costs When Choosing The Right Construction Accounting Software

    Posted by Sharie DeHart on Fri, Jan 08, 2021

    Typically, in the first month of the year, many contractors with expensive high-end construction software are re-examining if QuickBooks for Contractors is all they need and if switching over to it makes sense.

    I chat with Contractors every day. You tell me your stories - about your challenges in running a business, keeping up with the bookwork, estimating and bidding jobs, doing the work and collections from clients, and having or not having employees and paying their taxes. 

    The first thing we ask is which of The Four Types of Contractors best describes your company?

    Salt of The Earth

    Dog And Pickup Truck

    Professional

    Enterprise Level

    Having used several high-end construction software programs costing over $60,000 and a few low-cost programs under $500 like QuickBooks and Peachtree, and some free online bookkeeping programs, I have concluded that for contractors with annual sales volume under $5,000,000, the only answer is QuickBooks For Contractors. For an in-depth comparison of QuickBooks versions, click here.

    We started using QuickBooks when it was first released in the DOS version in the early 1990s and had been raving fans of it ever since. It's had problems and growing pains; however, Intuit, the parent company of QuickBooks, is right about finding and fixing the issues as evidenced by the number of contractors using it compared to their competitors.

    Read More

    Topics: QuickBooks Product Information, The Contractors Account, Systems And Processes, QuickBooks Construction Accounting, Contractor Tips

    A Guide On How To Provide Year-round Value To Your Contracting Clients

    Posted by Sharie DeHart on Fri, Jan 01, 2021

    Markets are dynamic and continually evolving, so no business can afford to stand still. Many construction business owners have learned that in the last few months as COVID-19 spread around the world. No matter how excellent your products or services, they have a finite lifespan, so they must be developed, improved, or replaced if you're continuing to grow your business.

    New products, services, and ways of providing more value to your clients and prospects are the hallmarks of a go-ahead business.

    Improvements and extensions

    You can lengthen your services' market life through a process of continuous improvement in response to customer feedback. You can also work on extending your range through complementary products or services.

    However, there's a limit to the extent you can keep on refining, and in many cases – in the end, you'll need something new. Besides, if you are a trade contractor specializing in a specific skill and service, how can you translate your expertise to show that you have your prospective clients' best interest year-round?

    Read More

    Topics: The Contractors Account, Thoughts And Inspirations, Systems And Processes, Contractor Tips, Trade Show

    Smart Contractors Spend Money On Marketing, Accounting, And Production

    Posted by Sharie DeHart on Fri, Dec 25, 2020

    There is no better time to reflect and think seriously about your construction business. Excellent organization systems add considerable value to any business because they allow you to spend more time working on your business rather than on it.

    Year over year and regardless of the economy, one thing never changes; 20% of the contractors earn and keep 80% of the profits because they have a Business Process Management Strategy like our Contractors Success M.A.P. that tells them how, what, when, where and why to focus their limited resources on the M.A.P. = Marketing / Accounting / Production.

    FEA25 New call-to-action

    Read More

    Topics: The Contractors Account, Construction Marketing, Construction Accounting, MAP vs. PAM, contractors bookkeeping and accounting, Accounting Software for Contractors, Contractor, Construction Productivity

    How To Avoid Overpaying Your Construction Business Tax

    Posted by Sharie DeHart on Fri, Dec 18, 2020

    Contractors want to maintain control without making any changes. "Keep doing the same thing but expecting a different result." 

    Throwing the receipts in a shoebox (behind or under the seat in the truck) is the favorite way to deal with paperwork. This is "Under Managing" and frustrates everyone around them who is playing "Where's Waldo?" Job costing is nonexistent; bills are usually paid late, customers are unbilled, lost, and forgotten.

    On the other hand, micromanaging every detail is an over-reaction from years of doing as little bookkeeping as possible to prepare the tax return. Knowing what to do, however, will stop you from making a big mess of it.

    Read More

    Topics: How To Lower Your Tax Bill, Construction Profits, Construction Accounting, Reduce Taxes, Contractor, Contractor Tips, Contractor Operating Tips

    The Value Of Time And Bookkeeping For Construction Business Success

    Posted by Sharie DeHart on Fri, Dec 11, 2020

    Keeping track of sales, earnings, expenses, and purchases are fundamental to your construction business's overall health and sustainability. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals. But despite their proven importance, many business owners dread and avoid accounting tasks.

    Smart Contractors know their time is more valuable spent meeting prospective clients, putting together bids, managing job sites, and many other things other than bookkeeping. So they find someone else to do it. 

    Any bookkeeping and accounting firm that does not know how to calculate complex algorithms that take into account fluctuations in the workload and generate a monthly fee that is fair to you and them they need to go back to school and take those courses on Decision Modeling, Statistical Analysis, and Business Process Management.

    Read More

    Topics: The Contractors Account, Bookkeeping Services, Construction Accounting, contractors bookkeeping and accounting, outsourced construction accounting and bookkeeping, Accounting Software for Contractors, Contractor

    Answers To Frequently Ask Questions About Our Bookkeeping Services

    Posted by Sharie DeHart on Fri, Dec 04, 2020

    One of the biggest concerns contractors have about outsourcing their 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 precisely what occurs.
     
    Many contractors would like to subcontract out their bookkeeping services, and the two main reasons they don't is - fear of losing control and cost.
     
    To paraphrase an old quote and adapt it to the construction industry, "It is not the strongest, toughest, hardest working construction contractor that survives, nor the most intelligent among them. It is the construction contractors that are most adaptable to change."
     
     
    Read More

    Topics: FAQs, The Contractors Account, Construction Accounting, contractors bookkeeping and accounting, Accounting Software for Contractors, Contractor

    Eight Things Your Construction Invoice Needs To Get Paid Faster

    Posted by Sharie DeHart on Fri, Nov 27, 2020

    Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over. Due to your work's nature, as construction contractors provide services on a per-job operation, issuing invoices make it all the more challenging and complicated than it has to be. The good news is that it doesn't have to stay that way. 
     
    What should you include on your invoices to get paid faster? Even if you've been running your business for a while, you might be missing other information that you should include. So here is a step-by-step guide on what to include on your invoices.
    Read More

    Topics: Payment Collect, Invoice With Smart Phone, Invoice With Tablet, QuickBooks Construction Accounting, payment issues

    A Contractor's Guide To Dealing With Customers Who Refuse To Pay

    Posted by Sharie DeHart on Fri, Nov 20, 2020

    All construction contractors have experienced bad debt's financial pain, which is defined as a customer who refuses to pay no matter what you do.
     
    I've been there before, and it will probably happen again in the future. Owning and operating any business, including accounting, means sometimes you provide goods and services and not get paid.
     
    When you sat for an exam or a school test and knew the material forwards and backward, it was fast and easy. The exams and tests for the classes you struggled with were the opposite.
     
    Read More

    Topics: Construction Accounting, Customers, Contractor Challenges, Contractor, payment issues

    Overcoming Contractor Marketing Challenges

    Posted by Norhalma Verzosa on Fri, Nov 13, 2020

    Now that the internet has become an integral part of our daily lives, modern consumers no longer depend on television, radio, and print advertisements. We look and go through a plethora of information first, accessed through popular search engines (Google, Bing, and others), before deciding to make a purchase or hire a local service.

    Technology advancement allowed companies to promote and connect with a larger number of potential consumers than the traditional, physical presence of a brick-and-mortar store. As a contractor, you are no longer confined to your neighborhood and push services directly to them. Your online presence enables you to reach out and pull qualified leads towards your construction company. But what should you do when you don't have a marketing manager that handles this side of your business? I say work with what you already have and go from there.

    Read More

    Topics: Marketing Ideas For Contractors That Work, Contractor Marketing, Inbound Marketing For 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

    Contractors Bookkeeping And Accounting Services

    T Sheets Pro Advisor Fast Easy Accounting

    Mobile Time Cards 

    Eliminate the job site to office paper shuffle

    Start My Free 14 Day TSheets Trial  

    Contractors Bookkeeping And Accounting Services

    Fast Easy Accounting Construction Accounting Specialists Member Of National Association Of Home Builders NAHB

    Contractors Bookkeeping And Accounting Services

    mbamember

    Join Our MBA Network

    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