Contractors Are Selling Their Time First, Skill Second
Value of Time – Your time as the Contractor is the most valuable. I hope you are doing the tasks that only you can do. Yes, you can do your contractor bookkeeping. My question is: Why Would You?
Your answer – I have a cash flow problem. Spending hours doing your bookkeeping will not solve that.
In fact, doing contractor bookkeeping yourself will be painful, take time away from the things you do that make you money and take a lot longer than having someone else do it.
Why, because every piece of paper has a story and your brain wants to replay the story (fast or slowly depending on the story). Say for example you waste an extra minute on every piece of paper. How long will it take you to finish all of the bookkeeping chores for the day, week, month or longer? This is after you have QuickBooks setup for your construction company and you know exactly what to do with that piece of paper.
As a Contractor who is serious about their business. There is only one answer to cash flow issues.
Sell Your Way Out of A Problem (author unknown). With money in hand, you can make better decisions.