Most construction companies do not have a qualified construction bookkeeper; instead they have is a low paid Level 2 data entry person stressed out to their maximum level of endurance trying to figure out how to do level 3 and level 4 tasks and completely unaware that Level 5 and Level 6 tasks even exist.
The problem is they don't know what they don't know. See The Four Levels of Learning. The good news is these bookkeepers have good intentions which mean they only do limited financial harm, most of the time.
The scary ones are the Bad Bookkeepers who are self-proclaimed "Wealth Prevention Tools" keeping business owners from making money! They are easy to spot because they love to argue with the business owner!
We know every type of bookkeeper because over the years we have:
The stories we have heard would make you laugh, cry, gasp and in some cases leave you speechless!
The chart below represents the typical situation of Bookkeeping In-House
The System Is The Solution In 1991 we developed a Comprehensive Construction Bookkeeping System. Since then we have made thousands of improvements. It is continuously being improved, updated, innovated and enhanced. Having worked with contractors and seen 100's of QuickBooks files, met with lots of bankers, bonding companies, commercial insurance brokers in addition to our own experiences owning and operating construction businesses.
Having owned and operated several construction businesses over the past 30+ years we understand a thing or two about best practices when it comes to Construction Bookkeeping And Accounting and operating a profitable construction business. In 2004 our co-founder Randal DeHart passed the PMP (Project Management Professional) exam with an emphasis on systems engineering and process development which means the improvements to the system and faster and the focus is on delivering services that benefit you our client.
One Of The Keys To Success is intelligent delegation, relying on processes, not abdication, letting people do whatever they please. This means we have processes and procedures for how tasks are done, in what order similar to an assembly line. The table and diagram below shows how tasks are delegated to the lowest skill level and yet everything is reviewed by a competent accountant!
|
Skill Level |
Job Title |
Payroll Cost |
|
|
Level - 7 |
Business Planning Strategy |
Extremely High |
|
|
Level - 6 |
Financial Analyst |
Very High |
|
|
Level - 5 |
Systems Engineer |
Higher |
|
|
Level - 4 |
Accounting |
High |
|
|
Level - 3 |
Bookkeeping |
Medium |
|
|
Level - 2 |
Data Entry |
Low |
|
|
Level - 1 |
Paper Handling |
Lowest |
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 all across the USA including Alaska and Hawaii 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 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.
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. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+