Our New eBook is out! More than 15 pages filled with Marketing, Accounting, and Production tips, checklists, and best practices that you can use year-round for your construction business success.
Free Download 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
  • There are no suggestions because the search field is empty.

Five Basic Construction Accounting Tasks To Complete Every Month

Posted by Randal DeHart on Fri, May 31, 2019

Proper construction accounting is all about the details. The answers you need to operate and grow your company are in reports. Everything starts with cash because "cash is fact, profit is an opinion." All transactions in the bank account of your construction accounting system no matter if it is QuickBooks or Xero, must be assigned to the proper accounts:

  • Income
  • Job Deposits
  • Payroll
  • Taxes
  • Cost of Goods Sold (Direct and Indirect Costs including Labor, Material, Other and Subcontractors)
  • Other costs including permits, plans, bills from suppliers, and purchases on your personal credit cards
  • Overhead

These tasks form the solid foundation of your small business. As a small business owner, you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits. 

 

Read More

Topics: Construction Cash Flow, Increase Profits, Increase Cash Flow, Contractor Sucess, Contractor Tips, Contractor Operating Tips

Contractor Tactics On How To Avoid Payment Problems

Posted by Randal DeHart on Fri, May 24, 2019

Construction companies need short-term liquid working capital such as cash, lines of credits, loans, owner financing, credit cards, supplier accounts, and other forms of money to conduct daily operations. Small construction companies with annual sales volume less than $10,000,000 and other requirements enjoy some benefits that are not always available to larger firms. Likewise, larger firms can leverage economies of scale.

The larger your construction business grows, the more likely you could end up operating as a bank without the hundreds of ways to generate revenues from fee income and interest calculation that banks use. The most popular method designed by investors and developers and shrewd business people who understand the concept of divide and conquer is for contractors to get little or no down payment for a construction project, do all the work, including change orders and then try to collect their money.

What often happens is that contractors hate paperwork preferring to keep everything in their head. Then when it comes the time to collect their money, they find themselves having to re-sell the job and talk their customer into parting with their money. It's been said: "The value of services rapidly diminish after the services have been performed," which is why highly profitable companies like McDonald's gets your money before they deliver your meal. Compare the success and profitability of a McDonald's franchise to most restaurants.

 

Read More

Topics: Construction Cash Flow, Increase Profits, Increase Cash Flow, Contractor Sucess, Contractor Tips, Contractor Operating Tips

Snacks

Posted by Randal DeHart on Thu, Jun 16, 2016


One Tiny Bit Of Knowledge High Profit Contractors

Use To Get Well Over 100% Return On Investment

They Provide Snacks And Beverages for their field workers and office staff. What you say? It costs money! How is spending money going to make me money? Perhaps you think I am crazy! Read though and pay special heed to the three Profit Enhancement Strategies near the end.

Let's Take A Look At A Typical Construction Worker Named John

Read More

Topics: Construction Profits, Cash Flow, Increase Profits

Contractors Who Feed Workers Make Lot More Money

Posted by Randal DeHart on Fri, Aug 21, 2015


One Tiny Bit Of Knowledge High Profit Contractors

Use To Get Well Over 100% Return On Investment

They Provide Snacks And Beverages for their field workers and office staff. What you say? It costs money! How is spending money going to make me money? Perhaps you think I am crazy! Read though and pay special heed to the three Profit Enhancement Strategies near the end.

Let's Take A Look At A Typical Construction Worker Named John

Read More

Topics: Construction Profits, Cash Flow, Increase Profits

Three Unique Marginal Costs Grow Construction Profitability

Posted by Randal DeHart on Fri, Sep 12, 2014

Three Simple Yet Powerful Action Steps You

Can Take To Amplify Success In Your

Construction Company

Read More

Topics: Increase Profits, Increase Cash Flow

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

Highly Recommended by Locals On Alignable

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