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Construction Companies Who Fail Have One Thing In Common

Posted by Sharie DeHart on Fri, Mar 04, 2022

Every contractor who goes out of business has one thing in common, bad financial reports or none at all.

Does this sound familiar? Contractor opens a business because they are so skilled at trade. With a small amount of cash, less than $10,000, a few credit cards with $5,000 available credit, they are off to the races.

You tell friends and relatives about your new adventure and get lots of jobs. Of course, you wouldn't take advantage of friends or relatives at meager prices, would you?

You open supplier charge accounts credit cards from Home Depot and Lowes. Your working capital increased by $20,000. "Wow, life is excellent! I should have done this a long time ago!"

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Topics: Construction Company Failure, QuickBooks Contractors Financial Reports, Bad Construction Bookkeepers, Construction Bookkeeping And Accounting, Contractor Guidance

Why Bookkeepers Embezzle And Steal From Your Construction Company

Posted by Randal DeHart on Thu, Oct 03, 2013

“A recent study found that business school education not only fails to improve the moral character of the students, it weakens it. ..students were asked, if given a chance of being caught and sent to prison, they would attempt an illegal act that would net them a profit of more than $100,000; more than one-third responded ‘yes’."

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Topics: Bad Bookkeepers, Bookkeeper Embezzlement, Embezzlement, Bad Construction Bookkeepers

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