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QuickBooks Clean Up To Reduce Taxes And Fees For Contractors

Posted by Sharie DeHart on Fri, Apr 01, 2022

Contractors who ask for help in Cleaning Up their QuickBooks Files before filing taxes have better results than those that do not. The Tax Accountant is happier because the QuickBooks file is clean and easier to work with. They will likely find more deductions that can save you money and, in some cases, mean the difference between success and failure in your construction company.

  • Because the QuickBooks file is clean, the Tax Accountant will have fewer questions for you.
  • Because the QuickBooks file is clean, the Tax Accountant can easily find the reports needed to file your tax return.
  • Because the QuickBooks file is clean, the Tax Accountant can focus on saving you money.
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Topics: QuickBooks Cleanup, QuickBooks Contractors Financial Reports, Construction Bookkeeping And Accounting, QuickBooks Construction Accounting, Contractor Guidance

Construction Companies Who Fail Have One Thing In Common

Posted by Sharie DeHart on Fri, Mar 04, 2022

Every contractor who goes out of business has one thing in common, bad financial reports or none at all.

Does this sound familiar? Contractor opens a business because they are so skilled at trade. With a small amount of cash, less than $10,000, a few credit cards with $5,000 available credit, they are off to the races.

You tell friends and relatives about your new adventure and get lots of jobs. Of course, you wouldn't take advantage of friends or relatives at meager prices, would you?

You open supplier charge accounts credit cards from Home Depot and Lowes. Your working capital increased by $20,000. "Wow, life is excellent! I should have done this a long time ago!"

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Topics: Construction Company Failure, QuickBooks Contractors Financial Reports, Bad Construction Bookkeepers, Construction Bookkeeping And Accounting, Contractor Guidance

Different Skill Sets Of A Construction Company's Financial Team

Posted by Sharie DeHart on Fri, Feb 11, 2022

As your construction business grows, it's essential to have trusted financial professionals managing your books and providing strategic financial advice. 
After all, the busier you get, the more complex financial management becomes - and the less time you'll have to maintain your books and try to make sense of all the data. 
However, many construction business owners are not sure of the differences between a construction bookkeeper, a construction accountant, a financial planner, and a Certified Public Accountant (CPA) - or whether hiring one or all of them makes the most sense.
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 work with lumber, yet in most cases, the skill sets to do everything are rarely found in the same person.
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Topics: QuickBooks Contractors Financial Reports, Construction Bookkeeping And Accounting, Winning Teams, Contractor Guidance

Contractors Extraordinary Financial Reporting Needs

Posted by Randal DeHart on Wed, Jul 17, 2013

Construction Financial Reports You Can Understand

And Have When And Where You Need Them!

QuickBooks contractor Financial Reports such as Profit and Loss, Balance Sheet, Cash, Receivables, Payables, Job Costing Reports and Job Profitability Reports are a mystery to most contractors. Unless you have invested years in learning how to read them and really understand the coded messages hidden in plain sight reading them can literally make you take a nap.

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Topics: QuickBooks For Contractors Financial Reports, QuickBooks Contractors Financial Reports

QuickBooks Setup And Chart of Accounts For DIY Contractors
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