36-Point Contractor Bookkeeping Review

Written by Sharie DeHart | Fri, Jul 27, 2018

Construction Contractors know lots about the work they do. As an expert in their fields from finish carpentry, tile setter, masonry, roofer or landscaper the finished product looks beautiful. When a skilled craftsman does the work, it looks effortless. Others think I could have done that.

Most of the time we are so busy looking for the finished product that we are unappreciative of all the work that happens behind the walls, floor, and ceilings. It is magic when we turn on the light switch, run the dishwasher, start a load of laundry and take a shower or turn the thermostat up or down.

Air Conditioning is awesome on a hot day. For us; in the Seattle area, “Hot” is only slightly warm to Phoenix, Arizona or many parts of California. Seattle gets much Rain and once in awhile snow (like over my house) it may be raining everywhere else, but if there is snow in the forecast, I will see snow for a little while. It may not stick but is usually what you want to see on Thanksgiving Day and Christmas Day.

As May is over; I am thinking of a couple of remarkable years. One year it rained almost every day; usually, late afternoon, early evening and was nice during the day. Another year we had hot, sunny days. It was air conditioner weather (for Seattle that is 80 Degrees) all ten days of it. Then it’s gone.

Rest of the summer is warm if we are lucky and chilly, gloomy and gray when we are not. We keep thinking those few sunny days in May could not have been our entire summer. However, that year – It was.

Many people say I will start something new Next Year; there is always the Next Year.
There is always, today, tomorrow, this week, next week, this month, next month and finally next year. Question is what are you waiting for?

Are you starting something or ending something?
Reminder stating an S-Corp can be done at any time.

I hear this a lot. I am thinking about this. Thinking and planning is always a good thing. There is a HUGE DIFFERENCE between planning forever and stepping out and doing something. Commencing To Begin! Well known phase is “You Can Fix Something” (author unknown)

I like chatting with contractors like you and learning about your business. One of the things I learned is that many people who are an “artist at their craft” are not usually as good about the paperwork. That is okay. There is a Difference Between Reasons and Results. The government likes results (numbers, reports)

One of the reasons is that there is an illusion that “I am fantastic at “this” so anybody can do “that.” It can’t be that hard; forgetting all of the time, the effort it took to be the master craftsman at what they do.

Another reason is the illusion of time. Bookkeeping should not take very long. I will get to it tomorrow.
As weeks and months go by. Tomorrow never comes, and the paperwork piles up from Yesterday and Today. Tomorrow becomes today, and you still do not have enough time; soon it will be Yesterday.

Choosing software based on its ability to sync with an app does not always have the desired results. Garbage in still equals garbage out no matter how many apps you tell to “Just Do It.”

It is unrealistic to expect Software and an App to understand your business and give you proper reports. If you don’t know what you are doing “How do you expect to be able to tell the software what to do?” Choosing Somebody, anybody to do your bookkeeping can have a negative impact on your Budget.

Numerous Tax Accountants try to do the bookkeeping and get lost.
My suggestion is to choose someone who specializes in Construction Accounting. I have had prospects tell me that their Neighborhood High School Student, their Nanny, their friend, on a few occasions a condition of being girlfriend was that that person had to do the bookkeeping. Rinse and Repeat Model!

Recommend that spouses always be involved in the business.

Your spouse is your partner. Who better to help watch the money.
As a small contractor, the money goes fast enough without any outside help.
Ownership (even a small percentage) means that your spouse has check-writing authority with the bank.
You are busy but what if something happened to you?

Ownership also allows your spouse to talk to Government Agencies, make payment plans as needed. Without that; each of the agencies could in effect “Pat your spouse on the head like a little kid” and say we don’t have to talk to your spouse because his | her name is not on any of the paperwork (HA, HA)

In my opinion, some of them are quite gleeful about it. Remember, they can’t see the crisis from their house. The ability to move money, write a check does not impact their lives in any negative way. We are here to help. Promote owners and spouses have a basic understanding of their numbers.

In Conclusion:

If you are feeling confident in your choice of “Who Does Your Bookkeeping” Fantastic.

We have Customized products to assist on www.FastEasyAccountingStore.com

We are continually improving our processes and workflows. Sometimes we choose software that “Looks Good” but in reality does not always work as well as we like. The software may be too hard for Staff or Clients to use. Other times we find that the software after a few updates works wonderfully and we embrace using it. If it does not work, we look for other options. What 3^rd Party software do you use?

Our Outsourced Accounting Clients are excited whenever we find a product that works for everyone. Clients have embraced Document Management Systems because it frees up their time and limits the number of documents that need to be scanned into our paperless server. We love Paper because we can convert it to paperless and store it electronically.

We added our Fast Easy Accounting Contractors App because clients wanted more ways to be able to link to software using their phones.It is a Free App. So of the programs require a subscription to access. Sign up and use the Free portions.

This allows for links used on the desktop to be available in a mobile environment.

Read our Blogs. We welcome Guest Posts because everyone benefits from the ideas of others.

Thinking Happy Thoughts For Everyone.

Sharie

Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com
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Please feel free to download all the Free Forms and Resources that you find useful for your business.

We are here to Help “A Little or A Lot” depending on your needs.

About The Author:

Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com

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For Construction Company Owners who do not need the full power of a QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online, and we have a 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!

Thank You For Reading This Far, And I Hope You Understand we really do care about you and all contractors regardless of whether or not you ever hire our services.

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.

Our Contractor Bookkeeping Services System Is A System

Thinking About Outsourcing Your Contractors Bookkeeping Services To Save Time And Money?

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PS: For The Do-It-Yourself Construction Bookkeeper Our Store Has Chock-Full Of QuickBooks Setup Templates, QuickBooks Chart of Accounts And More.

Most Contractors Setup QuickBooks Desktop Version In One Of Three Ways:

#1 EZ Step Interview inside QuickBooks Setup
#2 Asked Their Tax Accountant To Setup QuickBooks
#3 They Attended A How To Setup QuickBooks Class Or Seminar

And QuickBooks Does Not Work The Way They Want It Too!

The Answer:

#1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company

#2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company

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