Online bookkeeping has several advantages:
24/7 Access to your accounting data
Automatic backup
You can give many people access to it
You do not own your accounting information which means as long as you are in their good graces you are O.K. If you forget or refuse to pay your bill, or decide you no longer want to use QuickBooks Online you can very easily lose all your data.
There is another solution for online bookkeeping that many mid-sized, rapidly growing businesses are using it is an Application Service Provider (ASP) to host your QuickBooks bookkeeping software and store your financial data on their servers. You own that accounting data and you get the benefits of frequent back-ups and professional-level security, which you probably don’t have the staff, budget or infrastructure to provide in your own office.
#01 The Hosting Provider Is QuickBooks Ready which means they need to be an Intuit Approved Hosting Provider.
#02 Qualified Accounting firm To Act As Liaison. Intuit Approved Hosting Providers do a great job of providing a place for your QuickBooks to rest and they keep QuickBooks software updated and maintained; however, they DO NOT PROVIDE ANY QUICKBOOKS SUPPORT! They are like having a smart desktop computer online. You will need a qualified accounting firm for QuickBooks Setup and day to day bookkeeping services.
Option #01 - Hosted Only We will put a copy of your QuickBooks desktop version file which you can access 24/7 from any Internet connection on the Intuit Approved Hosting Provider which and provide you with as much or as little ongoing QuickBooks contractor bookkeeping services data entry, training and support as you require. And we will include access to Microsoft Word, Excel, PowerPoint and PDF Read/Write.
Option #02 - Shared Service We will put a copy of your QuickBooks desktop version file which you can access 24/7 from any Internet connection on the Intuit Approved Hosting Provider which and provide you with as all of your QuickBooks contractor bookkeeping services data entry, training and support as you require. And we will include access to Microsoft Word, Excel, PowerPoint and PDF Read/Write. In addition we will provide you access to our Paperless Document Server which links your important receipts and documents to individual QuickBooks Transactions.
Option #03 - Full Service We will put a copy of your QuickBooks desktop version file which you can access 24/7 from any Internet connection on the Intuit Approved Hosting Provider which and provide you with as all of your QuickBooks contractor bookkeeping services. And we will include access to Microsoft Word, Excel, PowerPoint and PDF Read/Write. In addition we will provide you access to our Paperless Document Server which links your important receipts and documents to individual QuickBooks Transactions.
Getting Documents To Us Is Fast And Easy - We have several ways to get documents to us click here for more and we also offer an optional scanner to with "One Button" action to upload your documents to us.
You will notice - This bookkeeper does not talk back, argue, arrive late, leave early, take long lunch and coffee breaks, demand overtime, fringe benefits, try to train you, or have any of the bad bookkeeper habits that drive construction company owners crazy!
Ready To Work - When you are; twenty four hours a day every day including weekends and holidays at no additional charge
It Comes In PC and Mac Versions - So no matter what computer system you have it will work!
When You Are Ready - To send us your paperwork, receipts, documents simply open it up
Load It Up - With multiple sizes of paper and hit the button and watch that is all there is too it! The paper will automatically feed through the scanner and send the files electronically to our Paperless Server.
File Your Documents - In a box and when it gets full label it with the date and put it away.
Your Documents - Will arrive in our paperless server where our professional bookkeepers will bring them up on one of their multiple wide screen high resolution computer monitors and input the transactions into your QuickBooks which is stored on our remote secured server.
All our packages include FREE access to online Key Performance Reports to see how you company is doing without having to open QuickBooks!
In addition to the premier outsourced contractor bookkeeping services and paperless vault for storing documents, linking them to QuickBooks for Contractor transactions, retrieving, printing and emailing them our contractor clients can have on demand 24/7 internet cloud based access to their financial reports without having to open, touch or even look at QuickBooks For Contractors!
We provide professional contractor bookkeeping services primarily for construction company owners with annual sales volume $0 - $5,000,000 using the full desktop version of QuickBooks For Contractors which rests on an Intuit Approved Commercial Hosting Service.
#01 QuickBooks Desktop Version Online Contractors Bookkeeping Services Can Limit Fraud. It is a fact that disgruntled employees can pose a possible threat of employee fraud, as are employees who may be struggling financially. But the real ones to watch are those long-trusted employees like your in-house bookkeeper who has been with you for years and refuses to take a vacation because “no one else can do the job but them.” If you do not have the right processes and internal controls, employee theft becomes not just possible, but likely.
On the other hand our contractors bookkeeping services system has internal controls in place, with a construction accountant and financial controller overseeing the work of the staff bookkeepers. Only you, the business owner or CEO, has the ability to issue and sign checks and access to your PIN numbers.
Finally, your full-charge bookkeeper and the rest of your online accounting team live and work in the area near our office, not overseas and not in your office. Our online accounting services are personalized, but not “personal,” so we won’t gossip about your business or collaborate with your employees to help them commit fraud.
2. Online Accounting Services Saves You Time And Stress.
There’s a perception that online accounting services save money, since business owners don’t have to pay for overhead, employee benefits, and other costs associated with in-house employees. This might be the case, but our clients tell us that we save them time and hassles.
Fully Burdened Bookkeeper Cost - Simply means what it will cost you to hire someone including the company portion of the payroll taxes and all those little costs that only an accountant like me would think about. The example below shows a part-time in-house bookkeeper at $15.00 an hour working 10 hours a week. Notice this poor soul does not have any benefits at all and they still cost the company $25.29 per hour!
See The Nine Steps for a recap of what can happen to you!
The Two Happiest Days - In a boat owners life is the day he buys a boat and the day he sells it! In between he learns that B.OA.T. means Bring Out Another Thousand
The Two Happiest Days - In a construction company owner's life is the day he hires a bookkeeper and the day he outsources his bookkeeping.
Our construction contractor clients like the fact they don’t have to hire, train or manage an accounting department, and, because of our Service Level Agreement, they never have to worry if their books are done accurately and on time. You can’t put a price on that kind of peace of mind.
3. Online accounting puts you in better control of your business.
A common fear associated with online bookkeeping services is that the business owner will lose control of his business. In fact, the opposite is true. With 24/7/365 access to your company’s QuickBooks financial data, and a host of QuickBooks financial reports at your fingertips you’ll always know how well your construction company is doing, how much money you have in the bank, and the capability to find out where the company is likely to be heading in the near future. With a financial controller on your virtual accounting team, you’ll gain the benefits of wise financial advice and financial analysis, so you can make the best decisions for your business.
Online bookkeeping may put your QuickBooks financial data in the “cloud,” but you can keep your feet firmly on the ground with accurate financial data and realistic financial forecasting for the future of your construction company.
Limited Job Costing Reporting
Limited Sales Tax Reporting
Limited Custom Reports
Limited Report Formatting
Limited Detail On Reports
Limited Filtering Of Reports
Limited To One Window
Limited Tech Support
Limited 3rd Party Apps
Slow Response Time
Wasting Time Moving Between Windows
Cannot Easily Link Multiple Companies
Payroll Issues
Importing multiple transactions
Importing IIF Files
Updating Chart of Accounts
Work-In-Process (WIP) Reports
No Inventory Reporting
Problems With Retention Held Reports
Problems With Retention Due Reports
Purchase Order Tracking
Job Progress Invoice Tracking
Corrupted Trial Balance Reports
Corrupted Financial Reports
Cannot Create Item Reports
Cannot Backup Before Performing Major Revisions
Too Many People In The File
QuickBooks Online Is Like A Doorknob Where Everyone Gets A Turn
Not Enough Controls To Keep Amateurs From Really Causing Problems
Tax Accountants in an effort to make QuickBooks online easier for them
Pages Regularly Become Unresponsive The Program Needs To Be Restarted
QuickBooks Online is a great program for small companies including some non-profit organizations but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales.
Most Construction Companies started using QuickBooks Online so they could get to their QuickBooks Pro or QuickBooks For Contractors file anywhere they have internet access 24/7.
Just when you thought our special brand of outsourced contractor bookkeeping services couldn't possibly get any better...it does...yet again!
We provide professional contractor bookkeeping services primarily for construction company owners using the full desktop version of QuickBooks For Contractors which rests on an Intuit Approved Commercial Hosting Service.
On demand 24/7 Internet cloud based access to your QuickBooks Reports including Profit & Loss, Balance Sheet, Receivables, Payables and more without having to own or open QuickBooks For Contractors!
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 you 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.
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.
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:
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+