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A - H

All Learning Is Based On - connecting new things to things you already know. The power of associative learning.

Apprentice Communication - Point at something and make deep noises from the chest sound like important messages from the brain to hide the fact they know nothing, nothing, nothing.

Banker Agreement - Pledge to yourself in front of a mirror "Bankers do not do construction and I do not loan money"

Be-Do-Have - Be The Person, Do The Work, Have The Results. In life contractors produce reasons or results, and reasons don’t count.

Over the years I have experienced success and failure in construction. Success comes whenever I have engaged mentors that are where I want to be. Failure always comes from engaging people who cannot produce results but think they can.

Though the dogs (negative people) may bark the caravan (long line of successful contractors) moves on.

Choose wisely the six people you spend the most of your time with as The Leveling Process Operates 24/7/365

Bilingual - Words for women because they enjoy reading and can easily form pictures and movies in their minds to understand concepts. Pictures for men because they are accustomed to looking at drawings and blueprints.

Cash - Cash is a fact and profit is an opinion. One will put a roof over your head, clothes on your body and groceries on the table. The other one will impress your banker. Keep your priorities straight.

Change - The only group of people who embrace change and want it are babies with wet, smelly diapers. Everyone else hates it including me! 

Competition - Drags all participants to the bottom.

Cooperation - Raises all participants to the top.

Contractors Adopt Employees - For most part contractors take over where the employees parents left off. The more you understand this and have support mechanisms in place the better for you and your construction contracting company.

Construction Pioneer - Contractor with flaming arrows in the back from asking the in house construction bookkeeper for accurate financial and job costing reports.

Data Vs. Information - Data is the all of the transactions in QuickBooks. The audit trail can provide you almost endless details about each and every transaction is QuickBooks which you can wade through looking for answers and waste enormous amounts of time. Information is when you run a report about a group of transactions in QuickBooks to get actionable information.

Deflect-O-Matic Skin - Contractors learn quickly not to take anything personally because whatever someone else says is more about them than about you. This is especially true for remodel contractors when a homeowner has just given them a big deposit check and the contractor is in the middle of demolition.

Early-To-Bed Early-To-Rise know your numbers and advertise - It is not enough to work night and day, rely on the kindness of others to market your construction company and ignore what your financial statements are saying. M.A.P. = Marketing First, Accounting Second, Production Third.

Environment Trumps Will Power - Ever wonder why you study hard and have a hard time learning anything? It is your Child Ego sabotaging you. It wants to have fun and is easily bored. Study in waves and you will get further faster. Start small, skimming the material, come back after a break and skim it again this time a little more in depth. Rinse and repeat.

Failure - Is a few simple errors repeated every day

Green Growing Contractor Vs. Ripe Rotting Contractor - Green growing contractors continue learning, questioning and discerning. Ripe contractors have a hardening of the attitudes, know everything and are rotting. Age is not a factor.

We Remove Contractor's Unique Paperwork Frustrations

I - O

If You Know The Answers The Questions Will Not Bother You - In school when you sat for an exam or a test, and you knew the material forward, and backward it was fast and easy. The exams and tests for the classes you struggled with were the opposite. Having a Business Process Management Plan provided you with the answers to the questions about how to run your business because it is something you developed. Not something someone else did and handed to you.

It's Not What You Know, It's Not Who You Know That Counts, It's Who Knows You - The value you bring to your network is directly related to who will take your phone call or return your email.

Little Leaks Sink The Big Ship - The big gaping holes get all of the contractor's attention. But the little parasitic drains like Cheap Bookkeeper and cheap tools thnking you are saving money. In the end you get what you pay for.

Too many Construction Contractor failures can be traced back to the unknowns, unknowables, and jumping over five dollar bills to pick up a nickel. Strategy Vs. Tactics.

L.M.O.S. - The four big cost buckets, Labor, Material, Other Costs and Subcontractors, used by Fast Easy Accounting to assist construction contractors in determining Job Costing, Job Profitability and Job Costing Services Reports.

Makers Vs. Takers - Makers believe it is better to make than to take; whereas Takers believe it is better to take than to make.

Money Is Made - In the office; not in the field.Strategy vs. Tactics.

Money Makers Vs. Money Savers - Contractors who focus most of their time and energy trying to save every penny possible end up bankrupt and broke. Contractors who focus their time and energy on making money become wealthy. I do not mean pay no attention to costs, just follow the 80/20 rule. Spend 80% of your time and energy finding new ways to make money and 20% of your time saving money.

Nepotism Is Relative - Construction company owner hires and promotes his relatives who proceed to chase off qualified field technicians and office staff in an effort to level the contractor down and out of business.

O.P.M. - Other People's Money! Cash flow and bad bookkeepers are the #1 and #2 reason construction companies go out of business, bankrupt or worse. When doing a construction project do not be the banker! Invoice early and often and get change orders signed.

O.H.I.O. - Only Handle It Once. One of the keys to bookkeeping is having a system where each document is only handled once. Even if it means putting it in a holding account for a more senior accountant to deal with it.

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P - Z

Peter Principle In Construction - Promoting a journeyman to Project Manager or working foreman without formal training. Leads to Construction Train Wrecks.

People Dependent Vs. Process Dependent - Construction contractors who insist on getting control of people, employees, vendors, suppliers and stakeholders are like Sisyphus doomed to "Push a heavy rock up a hill for all eternity or until the go out of business. Construction contractors who are process dependent are more likely to enjoy the finer things of life that money and freedom can buy.

People Who Do The Hard Work of developing systems, processes, and enforcing them get the money

Profit - Cash is a fact and profit is an opinion. One will put a roof over your head, clothes on your body and groceries on the table. The other one will impress your banker. Keep your priorities straight.

Real Money - In Construction the real money is made in the office; not in the field.

Readers Are Leaders - The more you read the more you expand your mind and open it to new ideas and concepts. Wealthy contractors and wealthy people in general are intense readers. Little known fact most millionaires have a library card.

Rich - Income exceeds outgo

Right Vs. Rich - Right Vs. Rich is all about giving your customer or client what they want, not what you think is best

ROI - Risk Of Incarceration because of bad bookeeping

Salesperson - Amateur sorter

Shoe Salesman Contractor - Someone skilled in servicing, repairing and being a handyman for houses, commercial buildings and other structures

Signer - Someone other than the business owners with access to your bank account to pay bills or make tax payments....NEVER EVER A GOOD IDEA because everyone runs short of cash and the temptation to "Borrow" with the "Intention" of putting it back is having a high calorie snack with the intention of exercising later to get rid of it!

Simple Plans - Drawings showing what the finished product would look like if it were built in Heaven.

Sorter - Professional Rain Maker

Spending Vs. Investing - Poor contractors spend money and wealthy contractors invest money. Why spend money on bad bookkeeping when you can invest money on professional contractors bookkeeping services and in the process learn how to increase sales and profits for years to come. Don't just spend money of fuel for your equipment and vehicles understand when it makes financial sense to replace them.

Strike - An effort to increase egg production by strangling the chicken

Success - Is a few simple disciplines practiced everyday

The People Who Got You Where You Are Now - Can only take you where you are going if they continue to learn and grow. Otherwise you will need to let them go or suffer a slow and painful financial death.

The Well - Every customer or client is a potential repeat. Do a good job the first time, send a postcard every so often promoting your handyman service or your new and improved roofing material or drain cleaning, whatever you do and you will get new opportunities. If they move no matter, your relationship is with the property and the new owner will be pleased to know who to call. 

TSheets.Com - A Time Card Calculator That Actually Works

Warranty Work - The never-ending project

Wealth - Not working because you have enough cash to live the rest of your life

Wealth Prevention Tool - Bad Bookkeeper who does everything possible to make certain business owners a paid the same or less than the Bad Bookkeeper.

World Of What Is - We live in a world of what is, not what should be

You Alone Stand Guard At The Portals Of Your Mind - Your most important asset and the only thing that can make you rich, poor, wealth, destitute, happy or sad. It is all within your grasp if you simply stand guard and make certain that you only allow that which you want to manifest in your life enter your mind and your deepest innermost thoughts and block everything else out.

You Can Be Right Or Rich, Pick One - You cannot be both. You pick one on purpose or by default. The more you want to right the less you will be rich and the reverse is true.

We Remove Contractor's Unique Paperwork Frustrations

Need A Mentor? - Someone who has been were you want to go and can guide you. We would like to be that person for you. Fill out the form on the right or call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation

For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More.

This Is One More Example of how Fast Easy Accounting is helping construction company owners just like you put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to people like you and me so stop missing out! Call Sharie 206-361-3950 or sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation 

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Profitable Contractors and Construction Company owners have known about the value of outsourced bookkeeping services and contractor coaching services like ours for a long time and now you know about it too! 

We Scan Your Receipts And Invoices link the appropriate transactions to QuickBooks or Xero Accounting Online depending on the construction accounting service you are using and provide ongoing Cloud Based Contractors Bookkeeping Services by accountants who understand construction.

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About The Author:

Randal DeHart, PMP, QPA The Construction Accountant Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist and Bill.Com Certified Guru. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and construction accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and Xero accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.

Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+Follow Randal on Google+

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