The daily processes and transactions involved in operating a general maintenance and repair contracting business can mean long hours of repetitive tasks and occasional oversights due to human nature. These days, you can use technology to take care of almost any issue facing your business.
Automating these tasks can result in significant savings in resources and eliminate mistakes caused by human error. The key, however, is to know which tasks should be automated and which ones warrant staff intervention and guidance. Let's discuss some of them:
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Topics:
The Contractors Account,
Cloud Based Bookkeeping Services,
Outsourced Accounting For Contractors,
Systems And Processes,
Construction Company Cash Flow,
Contractor Guidance
Most contractors are skilled technicians who learned their tradecraft in an apprenticeship program taught by a Master Technician, experience, or combination of these methods.
There is a way to learn to operate your contracting company from a Master Contractor.
With time, they developed a Paradigm, Mindset, Understanding, whatever word makes the most sense to you about how construction companies operate based upon their experiences.
In their experience, production, getting work done is the most important part of the business because they always do as employees.
Since all learning is based upon connecting new things to things we already understand, most contractors fall into the trap of only doing what they know and not learning what they don't know.
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Topics:
The Contractors Account,
Cloud Based Bookkeeping Services,
Outsourced Accounting For Contractors,
Systems And Processes,
Construction Company Cash Flow,
Contractor Guidance
There is a natural ebb and flow in the business cycle, which in regular times operates, somewhat predictable.
In normal times, contractors who pay close attention to their Five Key Performance Indicators financial reports and stay aware of the macro global economy and the microlocal economy can plan and earn an expected profit after paying themselves a reasonable salary.
The past two years have been anything but ordinary, and frankly, we are having a tough time with the economic forecasts models we follow, including our internal ones.
Something similar occurred from 1976 to 1980, and suddenly in early 1981, the national and global economy began to turn around, and there was a severe shortage of contractors and qualified construction workers.
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Topics:
The Contractors Account,
Cloud Based Bookkeeping Services,
Outsourced Accounting For Contractors,
Systems And Processes,
Construction Company Cash Flow,
Contractor Guidance
As a Construction Contractor, much of your world is Outside The Box. You make what seems impossible and turn it into a finished product; the whole house remodel, kitchen or bath remodel, new roof, install an attic fan, replace windows, deck, patio, hot tub, swimming pool, children's backyard playhouse.
The Handyman Contractor fixes "Things," which are very important to the clients who need them—fixing a door, hanging a closet rod, moving something, removing something. Compared to a Whole House Remodel, it may seem like you are not doing anything. The reality is that to the person who needed the work done that a few simple little things may change their whole world for the better. Your Work as a Handyman Contractor brings joy to their life. Be Proud of it. No job is insignificant, and no construction business is too small for us.
I want to be the person who says Merry Christmas! You have earned it.
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Topics:
The Contractors Account,
Invoicing,
Cloud Based Bookkeeping Services,
Outsourced Accounting For Contractors,
Systems And Processes,
Construction Company Cash Flow,
QuickBooks Construction Accounting,
accounts receivable for contractors,
Contractor Guidance
If you've been considering making a move to a cloud-based accounting system, you're not alone. Cloud technology has impacted many business functions, including efficiently managing your business's financial aspects.
Cloud-based accounting moves your accounting from being hosted on your computer's hard drive to an online platform. Cloud-based platforms like QuickBooks and Xero offer important features that save you time and money, freeing you to focus on other essential construction business activities.
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Topics:
The Contractors Account,
Invoicing,
Cloud Based Bookkeeping Services,
Outsourced Accounting For Contractors,
Systems And Processes,
Construction Company Cash Flow,
QuickBooks Construction Accounting,
accounts receivable for contractors
Emergencies can happen in the blink of an eye. Gmail, Yahoo, MSN, and social media are all in the cloud. When disaster strikes, flood, fire, theft, earthquake, or a lousy bookkeeper deliberately destroying business records or computer crash, you are protected against data loss by these online programs. Buy another computer, set it up, and you are back in business.
What about your bookkeeping records? Your customer list? Who owes you money? Who you owe money to? Payroll? Employee advances and loans?
Job deposits, sales tax reports due, the list goes on. You never realize how much you depend on your Construction Accounting System until it is gone forever!
What about your contracts, bids, other hard copies of documents you use to operate and grow your construction company?
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Topics:
Cloud Based Bookkeeping Services,
Construction Bookkeeping And Accounting,
Systems And Processes,
QuickBooks Desktop Cloud,
QuickBooks For Contractors Cloud,
Contractor Tips
Choosing From Many Construction Accounting Solutions Available
Finding a solution that will do “All I Need It To Do” This is the challenge for Construction Contractors.
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Topics:
Job Costing In QuickBooks,
Cloud Based Bookkeeping Services,
contractor bookeeping services
As A Contractor You Are Either Getting Paid, Paying Someone Or Both
Contracting Is All About The Money And Taxes
Which is better for you, Employees or 1099 Contractors? In the world of the State and Federal Agencies. Someone who works for you is either an Employee (on W-2) or a Subcontractor. You need to be issued 1099 at the end of the year, and you need be able to prove they are legitimate Subcontractors!
What we sometimes forget is the personal side of our life and do not realize we have employees. Nanny tax is for any household employees that you have for yourself, the obvious is the Nanny who provides childcare. It also includes a Housekeeper (unless using a licensed maid service).
Reminder from Tax Accountants is the Elder Care market. If you have an individual who is caring for an elderly parent (they are subject to Nanny tax unless you are using a licensed service.)
Do you have support people? Are they making your life easier or are they a risk to you and your Contracting Company?
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Topics:
Contractor Bookkeeping,
Cloud Based Bookkeeping Services,
Assisted Do-It-Yourself Contractor Bookkeeping
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!
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Topics:
Cloud Based Bookkeeping Services,
Cloud Computing QuickBooks Desktop Version
One of the biggest concerns contractors have about outsourcing their contractors bookkeeping to a cloud based contractor accounting service like ours is they think it means sending jobs off-shore rather than keeping your dollars in America where they can help other Americans. In too many cases that is exactly what occurs.
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Topics:
Cloud Based Bookkeeping Services,
Freelance Bookkeepers,
Offshore Bookkeepers
