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    Randal DeHart

    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. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+
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    Recent Posts

    Top Reasons Why Contractors Have A Hard Time Loaning From The Bank

    Posted by Randal DeHart on Fri, Oct 11, 2019

    Contractors want money; banks want to lend money, what's the problem?
     
    Think of all the times:
    • You loaned money to a friend or relative
    • Provided labor and material for somebody's home or business without a deposit check
    • Did change order work that you never got paid for doing and never will
    • Gave employees an advance on their paycheck that you never got paid back

    Multiply that by 100,000, and you will begin to understand why banks seem so tight-fisted about loaning money.
     

    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Banking

    The Secret To Winning Bids And Getting The Best Projects

    Posted by Randal DeHart on Tue, Oct 01, 2019

    Contractors have often told us that they're "one job away from making it big or losing everything". Our clients usually wonder why some of their competitors appear to be making a lot of money than they do when they seem to be doing similar work. 
     
    Not everyone seems to realize that in construction, money is not made in the field by working and pushing boundaries of tactical efforts - working harder and faster. Money is made in the office developing and implementing strategy.
     
    For example, a backhoe takes longer and more skill to mobilize and demobilize on and off a job site than a shovel. Tactics mean using a shovel for all earth-moving projects. Strategy means knowing when to use a backhoe and when to use a shovel.
    Read More

    Topics: Key Performance Indicators, KPI, Contractor Challenges, Contractor, Contractor Tips, finance

    How To Make More Money In Construction With SWOT Analysis

    Posted by Randal DeHart on Fri, Sep 27, 2019

    Developing a comprehensive strategy for your construction business can be about as much fun as wrestling a pig in the mud because:

    • It is slippery and hard to get control over it.
    • It will wear you out and frustrate you to no end.
    • You will swear it is a complete waste of time.
    • Your contractor buddies who are barely making a living will think you're crazy.
    • In the end, you will be thoroughly worn out, exhausted and mentally drained.

    What separates wealthy contractors from poor contractors?

    • It's not a lack of opportunities to bid jobs or get leads because getting leads is easy.
    • It's not lack of ambition because every contractor I know is active and ready to get busy.
    • It's not a lack of intelligence or the ability to develop a production method and follow it to the end.
    • It's not lack of money because if you follow my process, you know how to overcome that using O.P.M. (Other People's Money)

    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, SWOT Analysis

    Why High Demand Doesn't Always Equal To High Profit In Construction

    Posted by Randal DeHart on Fri, Sep 20, 2019

    The business cycle operates like ocean waves that cause a lot of construction business to go out in a year or two. Some grew too fast without reliable financial reporting tools and proper guidance.
     
    As you may know, there is an expansion and contraction Isoquant that occurs in all businesses. For construction companies, it is accelerated because of the enormous risks in project work. The changes in demand for Labor, Material, Other Costs, Subcontractors can occur almost overnight which often causes a financial death spiral, and the contractor does not know they are in trouble before it is too late.
     
    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips

    Construction Company Cash Flow Management System

    Posted by Randal DeHart on Tue, Sep 17, 2019

    A wise business owner once said, "Happiness is positive cash flow." As a business owner, I'm sure you agree. Everything is better when your cash-in exceeds your cash-out.

    A cash crisis can be emotionally devastating, and it can even kill your business. If you've ever had to beg, borrow, and steal to cover tomorrows payroll you know what I mean.

    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips

    QuickBooks Desktop Solutions Specific To Construction Business

    Posted by Randal DeHart on Tue, Sep 10, 2019

    Each contractor type has unique construction accounting needs which means if the QuickBooks process is custom-fitted to the needs of each construction company, 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 describe 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 piles of firewood 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!
    Read More

    Topics: Strategic Outsourced Bookkeeping Services, Outsourced QuickBooks Bookkeeping, Contractor Challenges, Contractor, Contractor Tips, Construction Accounting Online Classes, QuickBooks Template

    Fast And Easy Contractor Networking

    Posted by Randal DeHart on Fri, Aug 30, 2019

    Profitable contractors attend networking events not because they have nothing better to do; they do it because it pays off. You can either spend hours doing office tasks like bookkeeping or getting face to face with someone who may need your services. Meeting people gives you the chance to build and develop relationships, hire you, or refer you to someone who might.

    Most of our contractor clients work alone or with a small team, making connections vital and refreshing to meet other professionals doing similar work.

    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips

    Ways Your Construction Company Can Spend More Now and Save You Money Long-Term

    Posted by Randal DeHart on Fri, Aug 23, 2019

    During my lifetime, I have seen too many contractors work hard, never have enough money to retire. Some of them die from exhaustion, and others just wore themselves out and lived their final years in poverty and only a few, less than 5% ever made enough money from owning and operating their construction company and outside investments to retire early enough and enjoy a comfortable lifestyle.
     
    This article is a bit strong, and it could offend some folks. If it offends you, please accept my sincere apologies. I tend to tell it straight and not sugar coat anything because I have been involved in the construction industry most of my life beginning with working in my Step Father's construction company after school in the mid-1960s.
     
    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips

    5 Things Your Construction Bookkeeper Wants You To Know

    Posted by Randal DeHart on Fri, Aug 16, 2019

    If a Contractors Bookkeeping Services System doesn't work and they want it fixed but will not allow any changes, they need a magician, not a construction bookkeeper. Our workflow removes paperwork frustrations only if the contractor is also willing to do their part.

    It hurts when we have to let a contractor client go elsewhere because we are not able to help them. We sincerely believe we can help all contractors have more freedom, by earning more money, working fewer hours and sleeping better at night by taking the pressure off their bookkeeping so they can focus on financial reports and job costing reports, instead of data entry.

    In a few rare cases, contractor clients have wanted specific financial and job costing reports, but they flatly refused to allow us to make changes in their contractors bookkeeping services system which would have made it possible.

    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips

    Improper Journal Entry Could Harm Your Job Costing Reports

    Posted by Randal DeHart on Tue, Aug 13, 2019

    Journal entries are a quick and dirty way to get transactions in without putting forth the time and effort to enter each transaction. In the short run, you save time; in the long term, you can forget about the accurate Job Cost Reports.
     
    QuickBooks set up right and choosing the correct QuickBooks Version (QuickBooks Mac here) is the most critical part of being able to generate accurate reports including Job Cost Reports all because it is the foundation upon which your entire financial system is built. Put the wrong foundation under your business, and it will not matter who is doing the bookkeeping because it will always be a mess and you will never get the reports you need to operate and grow your business profitably. Your Board of Advisors and especially your banker will be unhappy; however, they may not say it outright, just that your loans, lines of credit, and referral opportunities may be limited.
    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips

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