You are not alone, it is an accounting program built to satisfy the needs of accountants with an attempt to make it easy for non-accountants.
There are hundreds of mistakes that can be made which can lead to an unbelievable number of problems later on when you try to use Xero Accounting Online and generate useful reports.
It makes sense to contract out the tasks you are not familiar with like Xero Accounting Online Setup or QuickBooks Setup because it is a lot harder than they salespeople and the marketing hype would have you believe.
Xero Accounting Online Setup is not as complicated as QuickBooks setup projects. For QuickBooks Setup we have built a custom set of step-by-step checklists to make certain we do a proper job of QuickBooks Setup for Construction. The checklists are over twenty pages long and growing every year as QuickBooks adds new features.
Considering we have been doing construction accounting since 1991 that should give you some insights as to how difficult it is to setup any accounting program.
If you are starting a construction company you could qualify to have us set up your company in Xero and give you 30 days of Xero software for FREE so you can find out if Xero is right for you!
The Initial Xero Accounting Setup Includes:
Set up your organization in Xero
Prepare an application for Tax-ID number, if needed.
Set up your Chart of Accounts
Connect your bank and PayPal feeds
Give you a tour of the system and how it works
Provide ongoing virtual CFO support (We are more than bookkeeping services provider!)
Contact Sharie 206-361-3950 or sharie@fasteasyaccounting.com
If you have an existing construction company and you want your existing accounting converted to Xero accounting by people who understand construction you have come to the right place. The investment required to transfer your existing transactions to Xero accounting will depend of the amount of information and the extent of customization you want.
We Can Convert The Following To Xero Accounting:
Shoe Box Full Of Paperwork, Receipts And Bank Statements
Handwritten Paperwork
QuickBooks Enterprise
Quicken (All Versions)
QuickBooks For Mac
QuickBooks Premier
QuickBooks Online
Microsoft Money
QuickBooks Pro
FreshBooks
Peachtree
MYOB
Wave
Sage
Excel
If you do not see yours listed here it is likely we can work with it as well. Please contact Sharie 206-361-3950 or sharie@fasteasyaccounting.com to find out.
Not every construction company will need the custom Xero Accounting Online setup options shown below. If you have less than three employees including yourself chances are the basic Xero setup will work just fine for you.
User Permissions
Company Information Window
Chart of Accounts Direct Construction Costs
Chart of Accounts Indirect Construction Costs
Chart of Accounts Retention For Your Subcontractors
Chart of Accounts Job Deposits From Your Customers
Chart of Accounts Indirect Construction Costs
Chart of Accounts Prepaid Expenses
Chart of Accounts Job Deposits
Chart of Accounts Fixed Assets
Chart of Accounts Depreciation
Chart of Accounts Intercompany Transfers
Chart of Accounts Payroll
Chart of Accounts Payroll Taxes
Chart of Accounts Payroll Tax Liabilities
Chart of Accounts Customer Discounts
Chart of Accounts Bad Debts
Chart of Accounts Customer Checks Returned From Bank
Chart of Accounts Employee Loans And Repayments
Chart of Accounts Jobsite Costs
Chart of Accounts Warranty Work
Chart of Accounts Sales Tax Errors
Chart of Accounts Mobilization
Chart of Accounts De-Mobilization
Chart of Accounts Leases
Chart of Accounts Purchases
Chart of Accounts Marketing
Chart of Accounts Advertising
Chart of Accounts Owner Loans And Repayments
Chart of Accounts Special Accounts For Sole Proprietors
Chart of Accounts Special Accounts For LLC Corporations
Chart of Accounts Special Accounts For Sub-S Corporations
Chart of Accounts Special Accounts For Partnerships
Chart of Accounts Special Accounts For LLP Limited Partnerships
Chart of Accounts Special Accounts Flipper Houses
Chart of Accounts Credit Cards
Chart of Accounts Lines Of Credit
Chart of Accounts Short Term Loans
Chart of Accounts Long Term Loans
Chart of Accounts General And Administrative
Chart of Accounts Occupancy Costs
Chart of Accounts Triple Net Leasing Costs
Chart of Accounts Technology
Chart of Accounts Professional Fees
Chart of Accounts Taxes
Chart of Accounts Licenses
Chart of Accounts Insurance Builders Risk.
Chart of Accounts Insurance Vehicles
Chart of Accounts Insurance Liability
Chart of Accounts Insurance Health And Dental
Chart of Accounts Financing Costs
Chart of Accounts Interest Earned
Chart of Accounts Gain And Loss On Fixed Assets
Chart of Accounts Estimates
Chart of Accounts Sales Orders
Chart of Accounts Purchase Orders
Retention Tracking For Your Customers
Retention Tracking For Your Trade / Subcontractors
Payroll For Your Employees
Payroll Sick Days
Payroll Vacation Days
Payroll Loans Setup And Tracking
Payroll Loan Repayment Setup And Tracking
Payroll Reimbursement Setup And Tracking
Payroll Garnishment Setup And Tracking
Payroll Child Support Setup And Tracking
Customer List
Vendor List
Proper Setup Of All Expenses And Costs In Chart of Accounts
Retention Hold By Your Customers
Retention Hold For Subcontractors
Job Deposits From Customers
Employee Loans - Admin
Employee Loans - Sales
Employee Loans - Operations
Employee Reimbursements - Field
Employee Reimbursements - Admin
Employee Reimbursements - Operations
Employee Reimbursements - Sales
Employee Reimbursements - Officers
Payroll Preperation - Field
Payroll Preperation - Admin
Payroll Preperation - Sales
Payroll Preperation - Operations
Payroll Preperation - Officers
Payroll Tax Reporting – 941
Payroll Tax Reporting - 940
Payroll Tax Reporting - 940
Payroll Tax Reporting - W-2
Payroll Tax Reporting - W-3
Insurance Audit Reporting
Insurance Audit Support (Business Consulting And Accounting Office)
Bank Reconciliations
Credit Card Reconciliations
Washington State Cities Business And Occupation Tax Reporting - Monthly
Washington State Cities Business And Occupation Tax Reporting - Quarterly
Washington State Cities Business And Occupation Tax Reporting - Annually
Washington State Business And Occupation Tax Reporting - Monthly
Washington State Business And Occupation Tax Reporting - Quarterly
Washington State Business And Occupation Tax Reporting - Annually
Washington State Sales Tax Reporting - Monthly
Washington State Sales Tax Reporting - Quarterly
Washington State Sales Tax Reporting - Annually
Petty Cash Register
Fixed Asset Tracking
Monthly Depreciation Transactions
Intercompany Transfers
Security Deposits Tracking
Loan To Shareholders / LLC Members / Partners
Cost of Goods Sold - Direct Costs
Cost of Goods Sold - Indirect Costs
Tool Lease Tracking
Vehicle Lease Tracking
Equipment Lease Tracking
Occupancy Expense - Office
Occupancy Expense - Shop
Marketing Cost Tracking By Chart of Accounts
Vehicle Costs – Admin / Sales / Operations / Officer
Other Income Tracking
Other Expense Tracking
Upload Documents To Inbox
Read, Print And E-Mail Documents
24/7 Access To Web Based Online Financial Reports
Paperless Server Vault Options
Custom Management Reports
We offer the most comprehensive contractors bookkeeping services system in the world. Your Letter of Engagement includes some or all of the options listed below. If there are options, you would be interested in knowing more about please contact Sharie at 206-361-3950 or email sharie@fasteasyaccounting.com and she will be happy to review them with you.
Our process for Xero Accounting Online setup of a new client is a whole lot longer than what I am showing here and for some of you this was TMI (Too Much Information).
Profitable Construction - Companies have known about the value of outsourced bookkeeping services for a long time and now you know about it too!
We Scan Your Receipts And Invoices link them to Xero transactions where it is appropriate and give you back a CPA-ready packet for your tax return and we 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. Follow Randal on Google+