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    How A Business Dashboard Can Help You Drive Your Construction Company

    Posted by Sharie DeHart on Fri, Mar 20, 2020

    (Note: We are tracking the latest construction industry news and online resources for contractors in time of COVID-19)
     
    Business dashboards are a valuable business intelligence tool, offering an "at-a-glance" big picture view of a company's performance.
     
    Some construction business owners use a dashboard to track KPIs (Key Performance Indicators) relevant to just one aspect of their business, such as sales growth, marketing, or financial data. Others rely on an executive dashboard for an overview of data culled from various sources (e.g., their accounting software, CRM tools, and website analytics).
     
    The great advantage of a dashboard is that it presents and compares complex data drawn from several sources using visual tools (i.e., tables, line graphs, and bar graphs). With access to this consolidated data – information that would take hours to compile and analyze on your own – business owners are empowered to make more informed real-time business decisions.
     
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    Topics: Construction Accounting, Key Performance Indicators, KPI, Contractor, Contractor Tips, Contractor Operating Tips

    Tips For Getting Your Construction Business Through Tough Times

    Posted by Sharie DeHart on Fri, Mar 13, 2020

    If you're a small business owner whose construction company hasn't gone through hard times, that's great, but it's likely to happen at some point. As much as we dream about being brilliant enough in this industry that we'll never face slow times, there are many things beyond our control that can negatively affect our organization.
     
    Here are six tips for getting your business through difficult periods so you can look forward to many more years of construction business ownership:
     
    1. Take care of your employees
     
    Workdays lost to sickness are a considerable cost to the company and a threat to productivity. Regardless of health threats and virus spread, the workplace itself is a source of infection, and you can reduce the risk of causing absence in your employees by implementing control measures to ensure the environment is clean and safe.
     
     
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    Topics: Construction Accounting, Contractor Challenges, Contractor, Contractor Tips, Contractor Operating Tips

    Annual Tax Return Pointers For Construction Contractors

    Posted by Sharie DeHart on Fri, Mar 06, 2020

    Preparing for tax season is a year-round endeavor. Well-organized small businesses are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information.
     
    Tip number one for construction company owners is to update financials every month, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place. 
     
    Second - The Profit And Loss Balance Sheet is what Tax Accountants use.
     
    The numbers on these reports offer a summary snapshot of your business. They are referred to and reviewed over and over by banks and others.
     
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    Topics: Networking, Construction Accounting, Contractor, Contractor Tips, Contractor Operating Tips, small business connections

    Contractor Networking - How To Connect With Local Business Owners

    Posted by Sharie DeHart on Fri, Feb 28, 2020

    Making a few good local business connections can go a long way in helping your construction business grow. Networking can spark mutually beneficial partnerships, lead to new opportunities, and attract more clients through word of mouth.
     
    In the age of social media, small business owners may think networking isn't as valuable as it used to be. On the contrary, it's just as crucial for people to get to know your face out and about in the community as it ever was. And fellow business owners are much more likely to refer you once you've met in person or have worked with you in the past.
     
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    Topics: Networking, Construction Accounting, Contractor, Contractor Tips, Contractor Operating Tips, small business connections

    Bookkeeper, Accountant, And CPA For Contractors - Understanding Roles

    Posted by Sharie DeHart on Fri, Feb 21, 2020

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

    Six Effective Ways To Save Money As A Construction Business Owner

    Posted by Sharie DeHart on Fri, Feb 07, 2020

    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

    Contractors Need Bookkeeping Beyond Get-Me-By

    Posted by Sharie DeHart on Fri, Nov 18, 2016


    Picking A Get Me By Contractor’s Bookkeeping Solution in many cases is using an Excel Spreadsheet and a shoebox, file folders all dumped into a file box and looking at the Online Banking once in a while. This accounting method is the “I still got money so I must be okay.”

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    Topics: Contractor Bookkeeping, Construction Accounting

    Unique Tips To Avoid Bookkeepers Who Will Destroy Your Construction Company

    Posted by Randal DeHart on Fri, Sep 30, 2016


    This article was written in late September 2016 in response to a trend we see all across the USA including Alaska and Hawaii. It is likely happening everywhere in the world.

    When the world economy collapsed beginning in 2008, a lot of companies went out of business, and one of the hardest hit sectors was construction. Thousands of bookkeepers were suddenly out of a job, and many of them began to freelance taking on a few clients in order to pay rent and keep food on the table.

    As the economy continues to improve a lot of them are finding jobs with contractors like you because of the security that comes with having a stable income. The problem is they have been accustomed to having lots of free time during office hours to chat on their cell phones, surf the web, spend time on Facebook and other social media sites; not buckling down and getting work done, right and on time.

    In addition, most of them have not kept up with the advances in Construction Accounting Technology let alone keeping the construction bookkeeping skills updated.

    What happens when he or she realizes they were earning $30 an hour as a freelance bookkeeper and now they are slaving away in your cramped office with no snacks, beverages, using outdated hardware and software for $10 an hour?

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

    Are You Trying to Find a Bookkeeper for Your Contractor Company?

    Posted by Randal DeHart on Fri, Aug 19, 2016

    Construction Contractors Have Experienced The Worst Economic Times In The Past 100 Years And Now That You Are Getting Busy You Cannot Find A Decent Reliable Bookkeeper

    Four Things Contractors Are Saying About Bookkeepers:

    #1 I've been trying to hire a bookkeeper for my contracting company for a while and none of them are worth a darn!

    #2 I Tell Them "Your Job Is Make QuickBooks Give Me Reports I Need To Make Informed Business Decisions!"

    #3 I've hired four of them in the past few years and none of them have a clue about what I do as a contractor!

    #4 I am getting ready to hire bookkeeper number five, and I just can't take it anymore, and I am near meltdown!

    The Next Set Of Problems Is Related To Cash Flow

    Read More

    Topics: Construction Accounting, Bookkeeper, Construction Bookkeeper Hiring Guide

    Why Construction Accountant Is The Best Bookkeeper For Your Construction Company

    Posted by Sharie DeHart on Fri, Jul 29, 2016

    Experts Have Increased Knowledge And Skills. This is true whether you are talking about general bookkeeping, tax accountants, your mechanic, your doctor or other business professionals.

    Read More

    Topics: Contractor Bookkeeping Services, Construction Accounting

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