What Are The Benefits of Outsourcing Your Contractor Bookkeeping Services?

#1 Time management - Because in a smaller construction company most likely the owner's spouse or girlfriend is managing payroll and maintaining QuickBooks for Contractors file when they could be taking calls for prospective customers or analyzing QuickBooks contractors financial reports and monitoring the Key Performance Indicator Reports (KPI) and focusing their attention on responsibilities that are important to the growth of the company.

# 2 Outsourced Contractor Bookkeeping Services Firm Is More Efficient - When outsourcing contractor bookkeeping services tasks, the construction accounting firm taking on those responsibilities does not require the contractor to pay for Professional Construction Bookkeepers benefits or vacation time. The contractor bookkeeping services firm won’t call in sick, and there are no phone calls to answer, meetings to attend or other distractions which cost the contractor time and money.

# 3 Outsourced Contractor Bookkeeping Services Ease Of Transitioning - Is surprising for most clients. A professional contractor bookkeeping services firm can quickly analyze your QuickBooks contractor financials, fix any QuickBooks Setup and QuickBooks cleanup problems, set up processes and procedures to make it easy for you to get paperwork to us, and we can help you read and understand your QuickBooks reports and financial statements.

How Does It Work?

Outsourced contractor bookkeeping services can be provided electronically or in person. Some contractors like the convenience of a professional contractors bookkeeping services firm with a contractor bookkeeping system which allows them to work with you remotely and perform construction accounting tasks electronically.

With cloud computing, where information can be shared in real time, many contractors rely on a combination of personal and electronic services to meet their construction accounting service's needs.

Some contractors prefer construction bookkeeping professionals that have a physical office in a professional environment with private conference rooms and offices and safeguards in place to protect their paperwork and their QuickBooks contractors file.

Other contractors prefer visiting a freelance bookkeeper at their home office or kitchen table with the kids running around needing attention, phones ringing, drop in visitors and they are not concerned about their competition having access to their construction company records including their QuickBooks for contractors file when they are not around to monitor it.

How Does Outsourced Contractor Bookkeeping Services Help Decrease Your Company’s risk?

The primary risk with construction accounting services is safeguarding your construction company's assets. A construction company is exposed to innumerable risks when there is a single bookkeeper or one back-office person who handles the money, makes all the deposits, writes checks, pays bills and reconciles the bank and credit card accounts.

These risks can be reduced by involving a third party, a professional construction bookkeeping services firm that separates bookkeeping duties and financial responsibilities like handling the company's money.

The contractors bookkeeping services firm can input time-cards and arrange for payroll processing to be done but never have access to printing or writing payroll checks. That is best left to the owner or a trusted employee. In most cases up to 20 checks can be printed in less than 10 minutes. The few minutes spent printing or writing payroll checks is one of the best protections against embezzlement a contractor can have.

The answer to reducing risk is key is to split the contractor bookkeeping services so that all of your company’s financial information isn’t managed by one person. Worse yet is when a contractor has a Bad Bookkeeper because for this reason alone, it’s a good idea to include an outside professional in the company’s accounting practices.

The enormous efficiencies and cost savings the construction company will realize are an added bonus and if you select a construction bookkeeping services firm that has deep knowledge and experience within the construction industry and construction accounting you could find not only a contractors bookkeeping services provider but people who can mentor and guide you to achieve financial success.

You are a contractor which means you add value to people's lives so you deserve to be wealthy. Let us help you get there sooner rather than later.

QuickBooks Expert Specializing In Construction Bookkeeping Services