Note: We are tracking the latest construction industry news and online resources for contractors in time of COVID-19.
For U.S. Small Business Administration's (SBA) Three-Step Disaster Loan Process, click here.

FEA Randal And Train
Call Us At 1-800-361-1770
Bookkeeping Trial Test Drive
Outsourced Accounting
Contractor Bookkeeping Templates For QuickBooks And Xero
Construction Accounting Academy

    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.
     
     
    Read More

    Topics: Construction Accounting, Contractor Challenges, Contractor, Contractor Tips, Contractor Operating Tips

    Understanding Construction Accounting Terms And Why It Matters

    Posted by Sharie DeHart on Fri, Nov 22, 2019

    Hiring an accountant is widely considered best practice for small business owners. But delegating financial analysis and reporting doesn't mean thoroughly checking out of the process each month or quarter. On the contrary, it's recommended that business owners work closely with their accountants throughout the year to better understand their financial position and make smart plans for future growth.

    We have discussed time and again the importance of knowing the difference between Construction Accounting and Regular Accounting. For the sake of our new readers, blog subscribers, and podcast listeners, I'll be providing you with some basic accounting knowledge so you can have more informed, insightful discussions with your financial advisors before the year ends.

    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, Contractor Operating Tips, Construction Productivity

    Improving Client Relationships With CRM In The Construction Industry

    Posted by Sharie DeHart on Fri, Nov 15, 2019

    Many complex moving parts are involved in operating a profitable construction company, but at its core, business success hinges on just one thing: customer relationships. 
     
    This is why Customer Relationship Management software is vital for contractors who want to grow their business.
     
    A CRM solution helps your construction company nurture and improve client relationships by maintaining centralized data on all your leads and existing clients. With access to a history of customer transactions and communications, your team can make their next move with confidence while offering highly personalized customer service.
     
    Construction business owners know that to find a loyal client base, they have to stand out from their competitors. One of the best and easiest ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business. People think positively about companies that treat their customers and clients well. 
     
     
    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, Contractor Operating Tips, Construction Productivity

    Inbox Productivity - Email Management For Your Construction Company

    Posted by Sharie DeHart on Fri, Nov 08, 2019

    Be honest: is email helping or harming your construction business?
     
    Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication - especially in the construction industry, where you have a team working on the field and in the office - on some levels, and freed up employee time at first. Now, however, email has become a productivity killer.
     
    Construction business owners and workers have to wade through hundreds of emails in their inbox each day. Many contractors working on-site, choose to deal with email as it comes in rather than all at once. This takes the focus off their work and makes it difficult to concentrate on their tasks.
     
    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, Contractor Operating Tips, Construction Productivity

    10 Hidden Construction Contract Traps And How To Avoid Them

    Posted by Randal DeHart on Fri, Nov 01, 2019

    A new contractor meets an experienced customer, and money changes hands and not the way you expect it.
     
    Typically, this is what happens when you first get started: You bid on a project, and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the project that will cause you ever to have to reread the contract.
     
    Read More

    Topics: Construction Bookkeeping, Processes, Contractor Challenges, Contractor, contractor bookeeping services, Contractor Tips

    Calculating Costs And The Value Of A Construction Bookkeeping System

    Posted by Randal DeHart on Fri, Oct 25, 2019

    Owning a construction business means you understand that bookkeeping is just one of those mundane, nasty, dirty, aggravating, grubby little chores you get stuck with along with its rotten scoundrel cousin the Monthly/Quarterly Tax Reports

    If you have employees - look out! On top of everything else you have payroll to process, in some cases, you may decide to provide cash advances to your employees to keep them focused on the job and not on personal issues, and finally there are all the Payroll Taxes you need to keep track of and file the reports for on a regular basis.

    Smart Contractors know their time is more valuable spent meeting prospective clients, putting together bids, managing job sites, and a whole lot of other things other than bookkeeping. So they find someone else to do it. 

    Read More

    Topics: Construction Bookkeeping, Processes, Contractor Challenges, Contractor, contractor bookeeping services, Contractor Tips

    What Your Construction Bookkeeper Needs To Generate Useful Reports

    Posted by Randal DeHart on Tue, Oct 22, 2019

    Owners of small construction companies like you are the men and women who keep everything moving in the right direction. When the economy changes, you quickly adapt because you are a survivor, not a large giant behemoth dinosaur unable to respond promptly and dies in its tracks.
     
    Most articles about Job Costing are for large contractors with dozens of employees, doing millions of dollars in sales every year. This article is not about them; it is about you!
     
    Job Costing links the money you spent on a job against the money you received to do a particular job.
    Read More

    Topics: Construction Bookkeeping, Processes, Contractor Challenges, Contractor, contractor bookeeping services, Contractor Tips

    Practical Procedures To Boost Your Construction Business Profitability

    Posted by Randal DeHart on Fri, Oct 18, 2019

    Cost is what you see; the profit potential is what you don't see.  High-profit construction company owner's focus on both and understand that "It Takes Money To Make Money."
     
    Strategy comes from the office. Fieldwork is vital - labor, material, and subcontractors get things built, maintained, and repaired; however, efficient operations and fast workers who give 110% cannot overcome lousy strategy. Office and field are separate but equal. Each skill-set requires different working styles and different cultures. It is your profession as the business owner to help everyone come together and understand each other's job and how it fits in the grand scheme of things.
     
    Read More

    Topics: Processes, Contractor Challenges, Contractor, Contractor Tips

    Why Track The Construction Company Owner's Time On Jobs

    Posted by Sharie DeHart on Tue, Oct 15, 2019

    As a construction company owner, you are getting paid, paying someone, or both. Contracting is all about money and taxes. With your job being not only physically demanding but also mentally draining, have you considered valuing your efforts? I understand how challenging it is for you to keep tabs on your employee's schedule, but make sure you also track yours.
     
    The primary reason to track Owner's Time On Jobs is to have a more accurate Job Costing Reports. You need to know how much money each job is making or losing. As an employer, you need to adopt the use of a time tracking software to assure accountability and improve productivity in the workplace.
    Read More

    Topics: Payroll Processing, Contractor Challenges, Contractor, Contractor Tips, finance, Contractor Operating Tips, Payroll For Construction Contractors

    Top Reasons Why Contractors Have A Hard Time Loaning From The Bank

    Posted by Randal DeHart on Fri, Oct 11, 2019

    Contractors want money; banks want to lend money, what's the problem?
     
    Think of all the times:
    • You loaned money to a friend or relative
    • Provided labor and material for somebody's home or business without a deposit check
    • Did change order work that you never got paid for doing and never will
    • Gave employees an advance on their paycheck that you never got paid back

    Multiply that by 100,000, and you will begin to understand why banks seem so tight-fisted about loaning money.
     

    Read More

    Topics: Contractor Challenges, Contractor, Contractor Tips, finance, Banking

    QuickBooks Setup And Chart of Accounts For DIY Contractors
    Download Our Free App For Construction Contractors

    click to download the Contractors APP now from the App Storeclick to download the Contractors APP now from the Android store

    Access Code: FEAHEROS

    accounting articles

    Subscribe by Email

    How Can We Help?

     
    Contractors Bookkeeping And Accounting Services

    Who We Help

    How We Help

    Next Step

    FAQ's

    Contractors Bookkeeping And Accounting Services

    Outsourced Construction Accounting Services For Contractors All Across The U.S.A. By Fast Easy Accounting 206-361-3950

    Serving Construction Contractors
    Across The U.S.A
    Including Alaska
    And Hawaii

    Podcast On iTunes
     
    Click Here To Listen In iTunes
    Contractor  Success M.A.P.
    Contractors Bookkeeping And Accounting Services

    Remote Access Your QuickBooks  Using Secure Servers

    Outsourced Bookkeeping Services For Contractors At Fast Easy Accounting

    Contractors Bookkeeping And Accounting Services

    T Sheets Pro Advisor Fast Easy Accounting

    Mobile Time Cards 

    Eliminate the job site to office paper shuffle

    Start My Free 14 Day TSheets Trial  

    Contractors Bookkeeping And Accounting Services

    Fast Easy Accounting Construction Accounting Specialists Member Of National Association Of Home Builders NAHB

    Contractors Bookkeeping And Accounting Services

    mbamember

    Join Our MBA Network

    Most Popular Posts

    Read the Latest:

    Browse by Tag

    badge

    Blog Suggestion Box

    We Remove Contractor's Unique Paperwork Frustrations

    Quickbooks certified proadvisor

    Xero-Accounting-Services-Fast-Easy-Accounting

    Financial-Intelligence-And-Performance-Reporting-Tool-Fast-Easy-Accounting Hubdoc-Document-Collection-and-Management-System MBA Member Fast Easy Accounting 206-361-3950
     
    contractor-success-map-podcast-listen
     
    Don't forget, you can hire our services at FastEasyAccounting.com
     
     
    How To Use Our Services