Add Fast Easy Dollars To Your Bottom Line
We Can Help - contractors like you make use of the Five Key Performance Indicators (KPI) QuickBooks reports that can massively improve your financial future with good solid construction accounting methods. Or you can continue to repeating your history and keep getting what you have always gotten. That may sound a bit harsh and it is because I sincerely care about you, your future, your family and your employees. The answer is in proper and professional construction accounting.
Whenever A Supplier Or Vendor - Offers you a discount for paying your monthly statement by the 10th of the following month it can mean some serious Return On Investment, R.O.I
For Example 2/10 Net 30 - Is shorthand for "If you pay the statement by the 10th of the following month we will allow you to take a 2% discount". Doesn't sound like much does it?
First Understand The Offer - From a construction accounting point of view. Your construction material supplier sends a monthly statement offering you a 2% discount if you pay the amount due by the 10th of the following month or you can wait and pay the full amount due on the 30th of the following month.
Next Do Some Fast And Easy Math:
You can "borrow" $980.00 for 20 days (Borrowing Period) and it will only cost you $20.00
There are many ways to calculate interest but for this example we are using a very simple method called the "360 day (Interest Year)" which means five days of the calendar year will be interest free.
Divide 360 days (Interest Year) by 20 days (Borrowing Period) = 18 (Borrowing Periods)
Check the math by multiplying 20 (Borrowing Days) X 18 (Borrowing Periods) = 360 Days
Calculate the annualized interest rate on this loan and it becomes 2% X 18 = 36% Annual Interest Rate
This is similar to how the check cashing stores operate and I am not saying it is good or bad.
You Always Have A Choice - Be right or be rich! I have shared this with thousands of contractors over the years and the vast majority of them will say one of the following:
"Wow! This is another one your great ideas, thank you!
"2% is nothing!"
"It's not worth it because I earn 8% in other investments!"
"I don't have enough cash available until I get paid from the prime contractor!"
Success And Failure In Construction - Is the result of two different habits. Failure is a few errors in judgment repeated every day. Success is a few simple disciplines practiced every day.
"If The Grand Strategy Is Correct - The enterprise will prove successful; however, efficient operations cannot overcome bad strategy" - Paraphrased from Sun Tzu.
Contractors Deserve - To be wealthy because you bring value to other people's lives! Consider letting us help you find ways to accumulate wealth by applying the principles of construction accounting and contractor bookkeeping that we have developed. Nothing needs to change in your day to day operations in order to take advantage of this opportunity and in fact you do not need us to implement this. Just know that everything we share freely in public and on the web is only the tip of the iceberg of what we can do for you!
This Is Only The Tip - Of the Iceberg. Everything we publish in our blog posts, articles in other websites, and anything you can find on the web is nothing compared to what is available to you as our client. We show only the basic tools to open your mind to the possibilities that are available to you. The best finish carpentry tools in the hands of a golf professional without proper carpentry training will not produce anything near to what a skilled finish carpenter can. The same can be said about the best construction business consulting and accounting tools in the hands of a skilled finish carpenter. And I say that with respect and admiration for everyone in construction.
When You Become A Client - Then we can tap into our resources of knowledge and strategy banks. We use the reports hidden in your QuickBooks in order to diagnose and understand your construction business and develop plans and help you implement a path to success for you and you alone because every contractor has unique Strengths, Weaknesses, Opportunities and Threats (S.W.O.T. Analysis) that when understood can lead to a Strategic Roadmap which cannot help but make a lot of money.
If You Are A Contractor You Deserve To Be Wealthy
Because You Bring Value To Other People's Lives!
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 email@example.com and schedule your no charge one-hour consultation.
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.
Thinking About Outsourcing Your Contractors Bookkeeping Services?
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We Are Construction Accounting Experts Specializing In Construction Bookkeeping Services For Contractors All Across The USA Including Alaska And Hawaii
About The Author:
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. Follow Randal on Google+