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?

 

Nothing is ever as good or as bad as it appears. If you are like most contractors, you learned a trade, skill, or craft, and after a while, you decided to go into business for yourself and make "The Big Bucks," which was one of the happiest days of your life. I've heard It said that boat owners experience two of the happiest days in their lives; the day they bought their boat and the day they sold it.

 

Read More

Topics: Builders Bookkeeping Services, Accountant, Bookkeeping Services, Construction Accounting, Contractor, Contractor Tips, Contractor Operating Tips

If you ask 100 business owners what they like least about running a business, the chances are good that bookkeeping will rank high on the list. It's an annoying and frustrating chore that takes up much time and is easy to put off until tomorrow.

Moreover, Construction Companies have unique bookkeeping needs. Some bookkeepers and bookkeeping systems may cost you more than they are worth in salary, fees, and loss profits because you cannot get QuickBooks reports and financial reports when you need them. Chances are, you are suffering from bookkeeping pain, and your bookkeeper or accountant is overwhelmed trying to figure out how to do construction accounting.

Good bookkeeping leads to informed decisions. Avoiding your bookkeeping is dangerous, however. For example, not knowing your construction company's financial situation can result in a series of missteps that could ultimately cost you your business.

Read More

Topics: Builders Bookkeeping Services, Accountant, Bookkeeping Services, Construction Accounting, Contractor, Contractor Tips, Contractor Operating Tips

The tax season is here. This is when most construction company owners think about getting their construction bookkeeping system in order, so they can file their annual tax return for the previous year.

 

Keep in mind that each branch of accounting serves a different function similar to how it works in construction. There are framers, rough carpenters, and finish carpenters, and all three works with lumber, yet in most cases, the skill sets to do everything are rarely found in the same person.

 

If you're like many construction business owners, you may not be exactly sure of the differences between a construction bookkeeper, a construction accountant, and a Certified Public Accountant (CPA)  - and whether you should hire one, or all.

 

Read More

Topics: Accountant, Construction Accounting, Contractor, Contractor Tips, Contractor Operating Tips, Construction Systems And Processes

We are always looking for ways construction contractors like you save time and money. These tips will help you make a noticeable difference to your bottom line.

 

Reduce staff costs

 

Without a doubt, having someone to help deal with routine tasks can significantly improve productivity. The rub is that hired help is often too expensive for small business owners.

 

Internships can be a real win-win: a student gets hands-on experience assisting you with marketing, accounting, or administrative work, and you get time-saving help for free.  

Read More

Topics: Accountant, Construction Accounting, Contractor, Contractor Tips, Contractor Operating Tips, Construction Systems And Processes