Have you been in business as a construction contractor or specialty contractor for a while and now you are wondering what your construction company is worth?This question comes up early and often and perhaps you would like a bit of inside information that we share with our Outsourced Strategic Contractor Accounting Services Clients.
Read More
Cheap Tools And Equipment - Cost a lot of money that you cannot see; out-of-sight means out-of-mind. When contractors like you invest in the best tools and equipment you can afford in the short and long run you will save money. Construction workers who take pride in their work will always produce better results faster with fewer repairs if they have quality tools and equipment. And they will tend to stay with your construction company longer which will help you earn more profits.
Make More Money Faster See The Chart Below:
For Example - Your best construction worker asks for a tool which costs $1,200.00, will save ten minutes a day in labor and last three years the most common response is "We can't afford it...make do with what you have...it is a poor craftsman who blames his or her tools".
When someone suggests "buying a tool to save money" most contractors hear "spend my hard earned money". These knee-jerk reactions come directly from the part of our brain called the "amygdala". It is what causes us to react to circumstances rather than respond them. It is also known as the "Fight or Flight" decision center.
Break the cycle of "doing the same thing you have always done and getting the same thing you have always gotten" by simply "Stopping And Thinking". With a simple Cost-Benefit-Analysis as shown below you can make intelligent decisions and always remember
Until Your Construction Company - Reaches at least $5 million in annual sales you cannot afford to hire a qualified bookkeeper or construction accountant full-time to put on your accounting staff and don't be fooled; there is no such thing as a part-time qualified bookkeeper or construction accountant.
For Example - If you try to save money by hiring someone who says they have 10 years of experience ask one simple question:
Anytime a bookkeeper whom is interested in joining our team of Highly Qualified Professional Construction Bookkeepers and they tell me they have several years of experience I ask that question and in 98% of the time the answer none.
As you well know the basics of just about trade from butcher, baker, candlestick maker, framer, plumber, electrician, HVAC, roofer, concrete finisher can be learned in six months. However it takes 10,000 hours of training and practice to begin to become skilled in construction bookkeeping or become a Journeyman in any construction trade and then a minimum of 100 hours a year to stay current with the trends in a given trade.
So let's look at the true cost of a bookkeeper with bad habits who is a Cheap Bookkeeper that you hired part time at $15.00 an hour for 10 hours a week thinking you will save money.
It May Seem Harsh - In order to survive and thrive as a contractor you must make certain your employees are focused on their job during the time you are PAYING THEM TO WORK! You must do whatever it takes to enforce the rules of engagement for producing results at your contracting company or be prepared to work for some other contractor and live under their rules.
In Some Cases - We can do more work for less money by providing you with real construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more at a lower overall cost and as an added bonus show you how to make more money than you are now!
For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More.
This Is One More Example of how Fast Easy Accounting is helping construction company owners all across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to people like you so stop missing out! Call Sharie 206-361-3950 or sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation.
Profitable Contractors and Construction Company owners have known about the value of outsourced bookkeeping services and contractor coaching services like ours for a long time and now you know about it too!
We Scan Your Receipts And Invoices link the appropriate transactions to QuickBooks or Xero Accounting Online depending on the construction accounting service you are using and provide ongoing Cloud Based Contractors Bookkeeping Services by accountants who understand construction.
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. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+
Topics: Cheap Bookkeepers, Professional Bookkeepers, What Ten Minutes Waste Cost Contractors
Every time you or your bookkeeper opens the darn thing it sits there and does nothing. That's because QuickBooks is deaf and dumb! The people that developed QuickBooks are genius's and I really mean it because the products they put out are top drawer!
When you understand they designed it to be sold to all industries, not just my favorite, construction you begin to see the problem; it has tons of stuff contractors don't need.
Read More
Topics: quickboooks setup, QuickBooks Features Contractors, Bookkeeping Workflow For Contractors
Your Construction Company was a bit disorganized and there were piles of paper on the dashboard of your truck, behind the seat, on the passenger seat, on the floor, in every pocket of you coat, shirt, pants, inside your lunch box and piled high on your desk or kitchen table?
You bought QuickBooks thinking it would solve all your paperwork issues and your contractor bookkeeping issues? Instead you found yourself in a bigger mess and deeper hole than ever because QuickBooks is anything but Quick!
QuickBooks advertisements made it seem so simple that even a child could setup QuickBooks in less than an hour. So you thought I can do this; I can setup QuickBooks for my construction company and it will automatically sort all of the paperwork and do all of the accounting for your Contracting Company in 10 minutes a day or less.
QuickBooks sells software to contractors a little bit like Home Depot sells material to "Weekend Warrior Homeowners" who think they can save time and money by doing construction projects themselves.
Home Depot generates a ton of leads for contractors by putting on Home Depot Free Weekly Workshops & Home Improvement Workshops.
Can a homeowner "Learn To Paint Like A Professional", "Get The Skills To Install A Toilet", "Learn The Skills To Install A Backsplash" or "Install A Light Fixture" in a 90 minute class? Of course not!
Does Home Depot sell a lot of material and supplies with this brilliant marketing idea? Of course they do! What normally happens is the homeowner attends the workshop in the morning, buys the parts, goes home, tries installing them, runs into trouble and then calls you!
The same thing happens when contractors buy QuickBooks and try setting up QuickBooks using the Easy Step Interview. You waste a lot of time, money, blood, sweat and tears and end up with a mess and you live with it until the pain becomes unbearable, then you seek professional help.
Or worse yet you hire a Cheap Bookkeeper who thinks they know how to setup QuickBooks for Contractors. By the time you figure out they know nothing about Construction Accounting it is too late.
They have driven your Contracting Company off the highway of success into the ditch of destruction, turned it upside down, poured gasoline on it, lighted it on fire, walked away, told everyone that you don't know how to run a business and you are left stranded on the side of the highway, eyes wide open, with tear stained cheeks watching in horror as everything you have worked for goes up in smoke!
Topics: QuickBooks Help, Outsourced Contractor Bookkeeping Services
Everything starts with Cash because Cash Is Fact; Profit Is An Opinion. All transactions in the bank account of your construction accounting system no matter if it is QuickBooks or Xero must be assigned to the proper accounts:
Tracking Income properly, Knowing how, when and where to put Customer Estimates, Customer Invoices, Customer Job Deposits and any Retainage Withheld, Vendor Refunds and Rebates.
Read More
Topics: Contractor Bookkeeping Services
Topics: Contractors Bookkeeping Paperwork, document management software for contractors
You are an intelligent Contractor which means you know how to operate your construction company and the biggest barrier to your success is getting your employees to do what you want them to do, when you want them to do it, and do it the way you know works best.
Read MoreTopics: Business Process Management For Contractors, Contractor Mentoring, Checklists
Taking a bit of time to clean-up QuickBooks and prepare it before giving it to your tax preparer could save you hundreds or even thousands of dollars in income taxes.
Topics: QuickBooks Year End Closing Tips For Contractors, QuickBooks Year End Guide, QuickBooks Year End Closeout
Lately we have been tracking how many new clients own and operate Handyman Companies and the results are surprising. We have always known them to be a high-profit low-risk type of business that for the most part is not as severely impacted by ups and downs of the economy. Nowhere near other segments of the construction industry
When the economy starts slowing down a predictable shift takes place:
When the latest recession began in early 2009 contractors were hit especially hard and are just now beginning to recover. If you earn your living as a handyman here is some important information just for you starting with a Podcast interview of Dan Perry founder of Handyman Startup.
Read MoreTopics: Handyman Success Secrets, Dan Perry Handyman Startup
Access Code: FEAHEROS
We Remove Contractor's Unique Paperwork Frustrations
|
|
|
 |
 |
 |
