Fortifying Financials And The Importance Of Solid Security Measures
Posted by Sharie DeHart on Fri, Jul 26, 2024
Topics: Construction Bookkeeping And Accounting, Systems And Processes, security, cybersecurity, Construction Systems And Processes
A No-Fuss Record-Keeping Guide For Your Construction Business
Posted by Sharie DeHart on Fri, May 10, 2024
Managing a hectic schedule and complex projects can be challenging if you're a contractor. You must also ensure that your paperwork, documents, and contracts are in order. It's essential to keep a paper trail of your work and practice due diligence.
Keeping all your working documents in order shows that you treat your business, customers, and subcontractors responsibly. This is a mark of professionalism and can also help if you have an insurance or legal claim.
Contractor paperwork documentation and procedures
You should develop documentation and record-keeping procedures appropriate for your contracting operation or service if necessary. Once procedures are in place, it is equally important to ensure everyone understands and follows them.
Topics: Construction Bookkeeping, Construction Bookkeeping And Accounting, Bookkeeper, contractor bookeeping services, Contractor Guidance
Taking steps to create a good foundation in the early days of your business is essential for a sustainable and profitable future.
It's rare these days that your prospective leads happen to find your construction business and become a client with no work. Your company has to grab people's attention, turn curious visitors into leads and then convert those leads into sales.
Keep in mind: Marketing-Accounting-Production
Read MoreTopics: Construction Marketing, Construction Bookkeeping And Accounting, MAP vs. PAM, Contractor Tips, Construction Productivity, Construction Organizational Change
The Difference Between A Construction Accountant And A Tax Accountant
Posted by Sharie DeHart on Fri, Feb 17, 2023
You know what happens when you send your best Rough Carpenter that you pay piece work for framing spec from the ground up in all kinds of weather and working conditions to install some custom-made cherry wood cabinets with gold plated pulls and knobs in the home of your best client (who happens to be in the wealthiest neighborhood in your town). It is not a pretty sight.
Have you pictured a crew with muddy work gear and boots stepping onto your client's pristine floors? The dirty secret is that Tax Accountants operate like Rough Carpenters because they work fast and furious, and they are paid piece work. The main difference is that they earn the bulk of their annual income in three and a half months. This means they do not waste any time going through your receipts to ensure you get all the deductions you are entitled to.
Topics: CPA Vs Construction Accountant, When Contractors Need A CPA, Construction Bookkeeping, Construction Bookkeeping And Accounting, Construction Accountant Who Listens, CPA, Contractor Tips
Growing Your Construction Company Through Collaboration And Partnership
Posted by Sharie DeHart on Fri, Feb 03, 2023
Building a construction business requires collaboration and partnership. The deployment of employees in a way that allows them to work together to problem-solve and act with a shared sense of urgency; and increasing brand awareness through an alliance with people in the industry are simple, cost-effective ideas for building your company within, in the office or job site, or externally through referral and online connections.
Topics: Profit and Growth Strategies For Contractors, Construction Bookkeeping And Accounting, construction business partnership, Boost Construction Profitability, Construction Collaboration
Seven Tips To Help Your Construction Business Adjust For Inflation
Posted by Sharie DeHart on Fri, Jan 27, 2023
This can lead to operating at a loss - spending more money than you make. Otherwise, you will eventually run out of cash reserves and be out of business. And while it's not uncommon, especially for new companies, it's still not ideal and shouldn't continue in the long term.
Topics: Construction Bookkeeping And Accounting, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability, Inflation, Construction Business Inflation
Starting And Operating A Small Construction Business On Limited Funds
Posted by Sharie DeHart on Fri, Jan 20, 2023
Freelancers in all industries deal with the same problems due to the nature of their work. Most of you came from the skilled craftsman trades; some worked as construction company managers and have now started or thought of starting your business.
If you just did, congratulations, you have decided to own and operate a construction company. Practically, solo contractors manage every aspect of their business, but we are here to help you navigate it. Here are the things you need to consider (especially when you are on a limited budget) to keep it running.
Topics: New Contractors, Construction Cash Flow, New Business Startup, Construction Bookkeeping And Accounting, Construction Company Startup Tips, Contractor Tips
The Advantages of Paperless Payroll In Your Construction Company
Posted by Sharie DeHart on Fri, Jan 13, 2023
You won't find a contractor using inefficient tools on the job site these days. The hammer or the nail gun? No question. While every contractor recognizes the flaws of using ineffective tools, they may still be losing money due to inefficient payroll tools and processes.
As with most things, payroll is going digital – for a good reason. There are many benefits to digital payroll for construction business owners and staff alike. Read on to learn why switching to paperless payroll could be right for you.
Topics: Construction Cash Flow, Construction Bookkeeping And Accounting, Key Performance Indicators, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability
Topics: Construction Cash Flow, Construction Bookkeeping And Accounting, Key Performance Indicators, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability
Year-end Closing And Planning For Construction Business Owners
Posted by Sharie DeHart on Fri, Dec 30, 2022
Preparing your End of Financial Year (EOFY) information often feels stressful—there are receipts to sort out and reports to review. You must ensure you have all the necessary information about your income and expenses. It can be overwhelming, and it can make the EOFY feel daunting.
The end of the financial year isn't just a time to collect receipts and find invoices. It's also a time to reflect on how your past year went, what went well and what didn't, and what you can change for next year.
Topics: Construction Cash Flow, Construction Bookkeeping And Accounting, Key Performance Indicators, Contractor Tips, Improve Construction Cash Flow, Boost Construction Profitability