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    Contractors Need KPI Not Get-Me-By

    Posted by Sharie DeHart on Fri, Oct 23, 2020

    Being in your own business can be the best time in your life. Alternatively, the worst time! No one starts a business, especially a contracting business, and have it rolling perfectly with a profit every step of the way. Between regulations, economic uncertainty, and other outside forces; always a learning curve.

    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."

    When you use today's Job Deposit To Pay For the material, labor, and subcontractors from the last job, it is also known as "Rob Peter To Pay Paul." Cash flow is never a problem until the sales stop; then it doesn't matter if it is the economy (your customers get laid off), domino effect (their customer didn't pay them), or you are unable to work due to being hurt on the job or get sick (flu or more serious illness).
     
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    Topics: QuickBooks Construction Reports, Key Performance Indicators, KPI, QuickBooks Construction Accounting, Contractor, finance

    The Value Of Unique QuickBooks Reports Specific For Contractors

    Posted by Sharie DeHart on Fri, Jul 31, 2020

    Some applications make almost everything easy, including accounting software. Too many contractors find out too late the adage "You get what you pay for" still applies.
     
    Hundreds of contractors and regular bookkeepers have told us how simple QuickBooks is to use, yet they cannot understand why QuickBooks for Contractors is so hard to use, and it is getting harder every year. I agree with them.
     
    Making a lot of money as a contractor is easy if you know what to do, and I don't mean your ability to produce more fieldwork than anyone else, although that does help.
     
    Each contractor type has unique construction accounting needs, which means if the QuickBooks process is custom-fitted to each construction company's needs, it is a beautiful thing.
     
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    Topics: QuickBooks Construction Reports, Profit And Loss Reports, QuickBooks Construction Accounting, Contractor, finance

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