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The Contractor And The River Of Construction Commerce

Posted by Randal DeHart on Fri, Oct 28, 2011

The River Of Construction Commerce Has Two Areas

The Bad Area - Is where contractors without a Clear Business Strategy operate their Construction Company. Inside the rapids which are shallow, narrow, with boulders, trees and wrecked Construction Companies. It’s loud, rushing, churning like a Wild Roller Coaster with its violent ways which will exact a toll on even the strongest most determined contractor. In time it will wear them down to where they are dispirited and heartbroken or simply heart stopped and flat broke.

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Topics: QuickBooks For Contractors, Strategic Planning, 80 20 Rule, River Of Construction Commerce

Kudos To An Unsung Hero And Champion Service Professional

Posted by Randal DeHart on Thu, Oct 27, 2011

Today I Am Shining The Spotlight - On one of my dearest friends and a true champion in the service industry. 

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The General Contractor's Aggravation Box And How He Fixed It

Posted by Randal DeHart on Wed, Oct 26, 2011

There Once Was A General Contractor - Who spent many a nights staring at his Aggravation Box, QuickBooks For Contractors!

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General Contractor Business Cycle - TIP #4 - Success

Posted by Sharie DeHart on Tue, Oct 25, 2011

How To Get Started Right – TIPS

S = Success

Success Is What We Are All Striving For! Each person has their own definition of what success is.  For some it is to buy a new vehicle, some want to take a long vacation and others want to buy a bigger / smaller house.  These are all things that someone “Outside Looking In” sees.  Each person picks their own goals. 

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Topics: Systems And Processes, New Business

How Ten Minutes A Day Is Killing Your Construction Company Profits

Posted by Randal DeHart on Thu, Oct 20, 2011

Profit Drain #1 In-House Bookkeeper Until a construction company reaches at least $5 million in annual sales it cannot afford to hire a qualified construction bookkeeper or construction accountant.

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Topics: Construction Bookkeeping

Business Plans For Construction Firms

Posted by Randal DeHart on Wed, Oct 19, 2011

Business Plans Can Provide A Competitive Advantage to any business has one and uses it. For construction firms the impact is even greater because very few contractors have one and many of the ones that do rarely look at it. This is because it was something they needed to produce to get a loan, investment capital or some other external force was applied. Once the crisis or need passed they simply let it rest-in-peace on the shelf.

Why Would Anyone Especially A Construction Business Owner spend the time and effort to develop a business plan? Because contractors use business plans all the time and they do not realize it until we show them:

Business Plans And Construction Follow This General Format:

#1 Executive Summary - Reputation

In construction reputation is key because construction is a perishable commodity that does not age well and delays cost a lot of money. So construction firms establish and protect their reputations very carefully based in part on having the resources and expertise to complete the work on time and on budget.

#2 Mission Statement - Construction Type

What type of construction are we focused on? New, remodel, service and repair?

#3 Competitive Analysis - What We Do Best

Every contractor has a different mix of resources and expertise which means there are some aspects of construction that are fast and easy for them and that is their Unique Selling Proposition (USP) where they should concentrate all their energies.

#4 Marketing Strategy - Our Best Customer

Every construction company knows who their best customers are and who the worst ones are. The key is to make a list to identify each group and apply the 80/20 rule.

#5 Staff Qualifications - Journeymen vs. Cheap Labor

The journeyman costs more per hour but produces more and better results at a lower costs over the long haul than a group of cheap laborers. This is easily documented in a well setup QuickBooks file

#6 Financial Information - Profit & Loss and Balance Sheet

Contractors typically run their business with a daily print out from the online account at their bank. Some use software and most that we come in contact with use QuickBooks Premier Contractor Edition.

Remote Access Your Desktop QuickBooks

For construction companies with 1-10 employees, including the owner, and annual sales of $0-$5 Million, QuickBooks Premier Contractor Edition is in my opinion the only choice. It can produce all of the financial statements most construction companies need and much more. The most important reports for a contractor to see are the 5 Key Performance Indicators (KPI)

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About The Author:

Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and construction accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and Xero accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.

Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Follow Randal on Google+

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When Is It Income In QuickBooks?

Posted by Randal DeHart on Tue, Oct 18, 2011

The One Burning Question Contractors Want To Know:

Show Me The Money! When money comes into the business at some point it turns into income which is one of the 5 Key Performance Reports successful contractors monitor on a regular basis.

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Topics: Cash Flow, QuickBooks For Contractors, General Contractor, 80 20 Rule

Free One-Hour Initial Consultation With QuickBooks ProAdvisor

Posted by Randal DeHart on Tue, Oct 18, 2011

Everything you always wanted to know about QuickBooks but were afraid to ask*

*Because it might cost you a lot of money and you cannot afford it!

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Contractor Hotline Connects Homeowners And Construction Companies

Posted by Randal DeHart on Tue, Oct 18, 2011

Qualified Leads For Contractors

There are referral services which have come and gone since I have been involved in construction over the past 30+ years. Most of them are in it for the money and they don't have a clue what construction is all about. Since they are run by business people who very likely never set foot on a construction site they have no idea how thing work in our world.

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Topics: Construction, Construction Lead Referrals, General Contractor

Outsourced Contractors Bookkeeping Is It Worth it?

Posted by Randal DeHart on Mon, Oct 17, 2011

It Depends - Are You Proactive or Reactive?

  • Proactive Business Owners use management reports for strategic planning to optimize profit and growth
  • Reactive Business Owners wait until the taxes are filed to find out what happened and never plan ahead
  • Proactive Business Owners understand the value of construction bookkeeping and accounting
  • Reactive Business Owners know they can always find a cheap bookkeeper and think they are saving money.
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Topics: Construction Bookkeeping, Outsourced bookkeeping, Accounting

QuickBooks For Contractors Setup

Posted by Randal DeHart on Thu, Oct 13, 2011

Four Ways To Setup QuickBooks

  1. Start From Scratch

  2. Use The Easy Step Interview

  3. Hire Someone With Skills In Your Industry

  4. Hire Someone Without Skills In Your Industry

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Topics: QuickBooks For Contractors, Systems And Processes, QuickBooks For Contractors Setup

General Contractor Business Cycle - TIP #3 - Payroll

Posted by Sharie DeHart on Wed, Oct 12, 2011

How To Get Started Right – TIPS

P = Payroll

Now I Have Tons of Work Rolling In and I’m Ready to Hire My FIRST Employee! I have found the perfect person - My friend!  We been buddies for a long time and we are going to have a Blast working together.  Here’s where I immediately think of the robot in  “Lost In Space” saying “Warning Will Robinson”. 

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Topics: Systems And Processes, General Contractor, New Business

People Ask How Can We Save Them $100's Or $1,000's On Bookkeeping!

Posted by Randal DeHart on Wed, Oct 12, 2011

They want to know how can we save them $100's or even $1,000's dollar a year when they can do the bookkeeping themselves or hire a Cheap Bookkeeper? Read our article Cheap Bookkeepers to find some shocking information revealed!

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Topics: Bookkeeping Services, QuickBooks For Contractors, Construction Accounting, Systems And Processes

How QuickBooks Backup Restored General Contractor's Business

Posted by Randal DeHart on Mon, Oct 10, 2011

Over the years I have spoken to hundreds of contractors about backing up their QuickBooks

Some contractors have acted on the idea, and others, not so much. There are two kinds of contractors who use computers:

  • Those who have yet to experience fire, flood, theft, bad bookkeeper or hard drive crash
  • Those who have and are now passionate about spreading the word about backups

This particular contractor is one of the nicest, gentlest and friendliest people you will ever meet; typical of all good contractors!

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Why Some Construction Projects Fail

Posted by Randal DeHart on Thu, Oct 06, 2011

Rule #1 Never Hire The Low Bidder!

The Sweetness Of Low Price Fades Quickly

While The Bitterness Of Poor Quality Lingers On

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Topics: Construction, General Contractor

Why Construction Is Like Cavemen, Cowboys And Shoe Salesmen

Posted by Randal DeHart on Thu, Oct 06, 2011

Construction is a wonderful profession with a built in natural progression for those who choose this most honorable of all professions. Am I a raving fan of construction and everyone who works, lives and plays in it? Absolutely Yes I am!

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Topics: Three Types of Contractors

General Contractor Business Cycle - TIP #2 - lncome

Posted by Sharie DeHart on Tue, Oct 04, 2011

How To Get Started Right – TIPS

I = Income

We are not in business without Customers.  Our New Customers become Existing Customers.  Once the job is completed (last month / last year) they become our Previous Customers.

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Topics: Bookkeeping Services, General Contractor, New Business

Answers For The Top Four Construction Accounting Headaches

Posted by Randal DeHart on Mon, Oct 03, 2011

We Remove Contractor's Unique Paperwork Frustrations

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QuickBooks Setup And Chart of Accounts For DIY Contractors
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