---

Contractors, Bookkeepers and Tax Accountants are trying to keep everything all in one place. That is great. A single bank account on the surface is the answer in simplicity.

Sharie’s Cash Management 101 Training I Teach Contractors Please Do Not Do This!

Why – when putting everything in one bank account; it could be a FINANCIAL DISASTER.  
Go to Home Depot, Lowes or any other larger store.  
Use your debit card; Drop or lose your debit card,
Someone finds it and buy stuff until he or she have spent all your money!
(may be a little harder with the chip but how many places can you run your debit card as a credit card?)  

Read More

---

Construction Bookkeepers Without Training Is A Common Problem

Many Construction Bookkeepers start out as Admin Assistants and get promoted to doing the Contractor's Bookkeeping in their free time. They were not hired to be a bookkeeper but as an office person who does a little data entry.

This method not too bad if the employee stays a long time and grows with the company from owner working solo to gradually adding a few employees one at a time because as Randal says:

Growing By The Inch Is A Cinch; Growing By The Yard Is Hard!

Read More

---

The Ripple Effect Of Not Counting All Your Income Happens When You Go To The Bank For A Loan

You need to be able to show the bank that you have enough sales to pay back the loan. For most contractors, an excessive amount of profit is NOT an issue.

There are always more than enough expenses that happen naturally in your Construction Company. And there are always tools that need to be purchased, repaired or replaced.

As 2017 tax season is finishing, I have heard from owners and employees who say. This Income or That Income doesn’t count. The fact is it all Counts.

The underground economy may be there but don’t count on the information being a secret. Between Memberships, rewards cards and using a credit card purchases are being tracked everywhere by somebody. (Some contractors think buying a truck for cash is not traceable).

Play it straight, report all of your construction company income and if your QuickBooks setup is done right and the bookkeeping entries are clean more often than not you may get a big fat tax refund!

Read More

---

We Make Contractor Bookkeeping Look Easy

Because we do it every day, Monday through Friday and some holidays. This makes it over 300 days per year. With multiple clients, we are not new; it’s not new.

The same goes in your field of Construction. You do many of the same things over and over again. The end result is so clean and tidy, when the customer is watching you it looks like it was effortlessly done. That’s so simple “Why Couldn’t I Do That.” When I tried, it seems to be “A Lot Harder.”

Everyone has a skill set. Construction Bookkeeping and Construction Accounting is what we do. I confess – we think we find it easier having come from a Construction Background (for Randal growing up in a construction family and for us personally having started, owned, operated several Construction Companies).

We can speak with conviction about the basics and the more complex issues as you grow your Construction Company, Handyman Company, Trade Contractor or any one of the dozens of Construction Company types we serve.

Short List Construction Contractors We Serve

Brand New Construction Company	Handyman Company
Cabinet Installer	HVAC Contractor
Carpentry Contractor	Insulation Contractor
Carpet And Tile Contractor	Interior Designer
Commercial Tenant Improvement Contractor	Land Development Company
Concrete Contractor	Landscape Contractor
Construction Company	Masonry Contractor
Construction Manager	Mold Remediation Company
Contracting Company	Moss Removal Company
Contractor	Painting Contractor
Custom Deck Builder	Plumbing Contractor
Custom Home Builder	Pressure Washing Company
Demolition Contractor	Remodel Construction Company
Drywall Contractor	Renovation Contractor
Electrical Contractor	Restoration Contractor
Emerging Contractor	Roofing Contractor
Excavation Contractor	Spec Home Builder
Finish Millwork Contractor	Specialty Contractor
Flipper House Contractor	Subcontractor
Flooring Contractor	Trade Contractor
Framing Contractor	Underground Contractor
General Contractor	Utility Contractor
Glass Installation Contractor	Construction Employee
Gutter Installation Company	Construction Support Specialist

Read More

Contractors who ask for help in Cleaning Up their QuickBooks File before filing taxes have better results. Because The Tax Accountant is happier because the QuickBooks file is clean and easier to work with, they will likely find more deductions which can save you money and in some cases mean the difference between success and failure in your construction company.

• Because QuickBooks file is clean, the Tax Accountant will have fewer questions of the busy contractor.
• Because QuickBooks file is clean, the Tax Accountant can easily find the reports needed to file the tax return
• Because QuickBooks file is clean, the Tax Accountant can focus on saving you money

You are the Happiest because taking a trip to the Dentist for many contractors is less painful than going to the Tax Accountant. Once a Tax Accountant is “Broke In” you hate to change them.

Read More

Messy Bookkeeping Happens Just A Little At A Time

When Contractors are doing their own bookkeeping, it becomes a problem that grows and grows

There is not any limits to the number of transactions that can be entered into QuickBooks improperly. Messy files build transaction by transaction or more simply put invoice by invoice, receipt by receipt all can be entered into QuickBooks improperly. There is no popup that says “This Is WRONG” – Do It Over.

Read More

Contractor Bookkeeping Basics and Why

Today’s technology says “Do Everything On Your Phone”

Use an app to create an estimate, or better yet just send the estimate in the body of the email. That works when the customer’s reply is “Do It”. Great you start the job, finish the job, never send the customer an invoice; Why – They Don’t Need One – they know how much to pay from your original email because you included short explanatory paragraphs about each item of work you did.

Read More

Contractors Struggle Between The Cost Of Having A Bookkeeper And The Value Received Because All Contractors Want To Have Is Peace Of Mind

Number 1 Frustration is discovering the contractor knows more about Construction Bookkeeping And Accounting than the bookkeeper they hired to do the job. Contractors end up trying to teach The Bookkeeper to do the job thinking every little bit helps.  

Number 2 Frustration is the Construction Bookkeeper asks “Is that part of my job description?”  

Number 3 Frustration is the Construction Bookkeeper will “Go beyond their duties and authority."

Read More

---

QuickBooks Online Is Not The Same As QuickBooks Desktop In The Cloud

 

At a quick glance, it is easy to think that all QuickBooks files are the same no matter if it is on your desktop or in the Cloud because it appears to be the same product. Nothing could be further from the truth.QuickBooks Online is slow and clunky and changes early and often so just when you think you understand it...

QUICKBOOKS ONLINE CHANGES!

SOFTWARE PEOPLE LOVE CHANGING STUFF!

CONTRACTORS LOVE GETTING STUFF DONE!

QuickBooks Desktop Version has been around since 1991, and it has improved at a stable pace that contractors and accountants can keep up with. For the past several years our contractor clients have enjoyed the having access to the tried and true QuickBooks Desktop version in a Cloud environment.

Why do I like using Cloud-Based Servers?
For all the same reasons every Contractor has web access to their bank is to see “The Numbers!”

Money In: Have my Deposits posted and cleared?  
Money Out: What checks have cleared?
What’s Left Over:  How much money is in The Bank?

You can access QuickBooks Desktop anytime from anywhere; using your smartphone, tablet, notebook, PC or Mac.

Your QuickBooks In The Cloud Is Backed Up Every Night While You Sleep!

Read More

---

Contractors View Of The Numbers And Tax Accountants View Are Totally Different
When Tax Accountants Review The Financial Statements The Year Has Ended

The Tax Accountant’s Role Is To Review The Previous Year Financial History based on the information provided create and file the Annual Federal Tax Return, Annual State Tax Return, and other Local or Payroll Returns. Washington State is a sales tax driven state. Other states have a State Income Tax, and others yet have a blend of both.

The Contractors Role Is To Review What Is Happening Now and make Strategic Decisions about what to know in order to have a brighter financial future. The best way to do that is to have QuickBooks Setup to deliver your 5 Key Performance Indicators (KPI) in 5 minutes a day at 5 pm or whatever time is best for you. We call them the 5 At 5 For 5, and we can set them up in your QuickBooks for you! Click here to learn more.

 

Read More