Construction Bookkeepers Without Training Is A Common Problem
Many Construction Bookkeepers start out as Admin Assistants and get promoted to doing the Contractor's Bookkeeping in their free time. They were not hired to be a bookkeeper but as an office person who does a little data entry.
This method not too bad if the employee stays a long time and grows with the company from owner working solo to gradually adding a few employees one at a time because as Randal says:
Growing By The Inch Is A Cinch; Growing By The Yard Is Hard!
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Topics:
Construction Bookkeeping,
Contractors Bookkeeping Services
Bad Bookkeepers Have 38 Traits In Common
It is important to understand the difference between Professional Bookkeepers, Regular Bookkeepers and Bad Bookkeepers.
- Regular Bookkeepers learned most if not everything they know about bookkeeping by experience and by letting you pay for their education in the form of excess taxes, fines, penalties, un-invoiced work, overpaying bills and late fees. It is painful for them and you. They have good intentions and do not want to cause contractors any grief and they are sincere with their apologies. Of the thousands of Regular Bookkeepers I have met they all have good hearts and really do mean well.
- Bad Bookkeepers also learned most if not everything they know about bookkeeping by experience and by letting you pay for their education in the form of excess taxes, fines, penalties, un-invoiced work, overpaying bills and late fees. It is painful for you but not for them. They have bad intentions and will cause contractors as much grief as possible and are quick to blame everyone else when something goes wrong. Of the dozens of Bad Bookkeepers I have met they all have a bad opinion of contractors and business in general.
On to the 38 traits
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Topics:
Bad Bookkeepers,
Professional Bookkeepers,
Bookkeeping,
Construction Bookkeeping,
Bookkeeper
It Is Tax Time Again - And if your tax preparer sends you a bunch of "Journal Entries" for your QuickBooks call Sharie 206-361-3950 or email her Sharie@FastEasyAccounting.com and we can help you with it.
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Topics:
Construction Bookkeeping,
contractors bookkeeping and accounting,
Tax Accountants,
Journal Entries
Profit Drain #1 In-House Bookkeeper Until a construction company reaches at least $5 million in annual sales it cannot afford to hire a qualified construction bookkeeper or construction accountant.
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Topics:
Construction Bookkeeping
It Depends - Are You Proactive or Reactive?
- Proactive Business Owners use management reports for strategic planning to optimize profit and growth
- Reactive Business Owners wait until the taxes are filed to find out what happened and never plan ahead
- Proactive Business Owners understand the value of construction bookkeeping and accounting
- Reactive Business Owners know they can always find a cheap bookkeeper and think they are saving money.
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Topics:
Construction Bookkeeping,
Outsourced bookkeeping,
Accounting
Which QuickBooks Is Best For My Construction Company?
This question comes up a lot when a contractor asks us about our Outsourced Contractors Bookkeeping Services Program. In most cases we only invite construction companies with annual sales up to $10M and no more than 20 employees to become clients. The reason has to do with a principle from the study of economics known as expansion isoquants which describes the hidden dangers of growing any company to higher and lower production levels. Click here for more about this concept of Optimize Vs. Maximize.
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Topics:
Pay Applications,
QuickBooks For Contractors,
Construction Bookkeeping,
Construction Bookkeeping And Accounting,
QuickBooks,
Contractors Bookkeeping Services,
QuickBooks For Contractors Setup
