Owning a construction company and being an employee requires different mindsets and attitudes or paradigms. Both positions are natural enemies and generate tension, leading to various diseases; mental, physical, emotional, and spiritual.

 

Construction workers live in the real world, where everything can be seen, heard, felt, tasted, and sometimes smelled. They can look around and see evidence of their activities. Their long-term time horizon in years past was two weeks, which is why most payrolls are paid every two weeks. With various check cashing and payday loan outlets, their long-term time horizon has been replaced with now and right now!

 

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Topics: The Contractors Account, Contractors Bookkeeping Paperwork, Construction Bookkeeping And Accounting, Systems And Processes, Contractor Tips

You started your contracting company to have fun, be your own boss and do the work you love. Now you are overwhelmed with paperwork, and the fun is gone!

 

One of the biggest struggles construction business owners deal with is the overwhelming amount of paper they have to organize as part of their everyday tasks. Invoices, receipts, bills, contracts, client records, pay applications, insurances, licenses - are just among the few in the seem to be never-ending "etc."

 

Keeping essential documents is necessary. Most contractors go from one extreme to the other. One extreme is saving everything for decades, and the other is tossing everything out.

 

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Topics: The Contractors Account, Contractors Bookkeeping Paperwork, Construction Bookkeeping And Accounting, Systems And Processes, Contractor Tips

Employees need to fill out timecards. The most practical reason is that all employees want to get paid, early, often, and regularly.

 

For those of you that are parents, do you remember when you brought home your newborn baby? They need food, water and diaper changed. You learned all about "Goldilocks and the Three Bears" Some children who are born on a HOT summer day seem to get "overheated" quickly and do not suffer quietly. 

 

If you have employees, you may notice in some similarities to raising children because in some cases you the contractor take over where your employee's parents left off. They want their paychecks (allowance) on a regular basis, and it had better not bounce at the bank due to insufficient funds.

 

If any of your construction worker's paychecks do happen to bounce or they are not able to cash it at the bank because your construction company does not have enough money in the payroll account then most likely you will find whatever tools and equipment they have easy access to at the nearest pawn shop.

 

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Topics: Time Cards, Contractors Bookkeeping Paperwork, Time Card Issues, QuickBooks For Contractors, Construction Bookkeeping, Painless Paperless Contractor Bookkeeping Services

Running a business for general contractors like you is an overwhelming yet fulfilling task because there are so many things only the company owner can and should do. In most cases, when the owner's spouse contacts us, it is because they are trying to help with the business, but they know they need outside assistance, so there is more quality time with the family.

Most contractors, and small business owners, in general, haven’t realized that what you don’t know can keep you up at night. Instead of focusing your efforts in maintaining your relationship with your past clients and building a new one, you were up wondering whether you’re making or losing money. Today more than ever, it is necessary to have a properly set-up accounting and bookkeeping file and maintain it. Someone with the knowledge and training combined with an understanding of construction to Set-Up, Clean-Up, Tidy-Up, and manage your bookkeeping system.

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Topics: Contractors Bookkeeping Paperwork, QuickBooks For Contractors, Construction Bookkeeping, QuickBooks Setup Do It Yourself, QuickBooks Construction Accounting, Assisted Do-It-Yourself Contractor Bookkeeping, Painless Paperless Contractor Bookkeeping Services

In Construction, hiring Independent Contractors can get very expensive, very fast!

The Internal Revenue has a defined set of rules on what is the difference between an "Independent Contractor" and "Employee". With all the documentation in place, a person could still be classified in the eyes of the Internal Revenue Service as an "Employee."

When you hire 1099 contractors

You need to know that their state contractor's license, bond, and insurance are active. During audits, state agencies are now looking to check the bond and insurance. Anytime a contractor's license is suspended, the State may reclassify that person as an employee on your job.

Because all fifty states are working with other agencies looking to be sure employee rights are covered, and the state, local and federal payroll taxes are paid. As an employer among your responsibilities are these:

• Pay workers’ compensation

• Meet wage and hour requirements

• Pay unemployment tax

• Maintain a safe workplace

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Topics: Contractors Bookkeeping Paperwork, Subcontractor 1099, QuickBooks For Contractors, Construction Bookkeeping, QuickBooks Construction Accounting, Taxes

The calls, emails, messages, and walk-ins that our company deal with every day come from construction contractors, spouses or significant other, construction bookkeepers, advisors, students, and financial planners among others. I do my best to offer support even if it does not lead to an immediate request for our services.

The pressures of running a construction company are tremendous. Incoming money is usually unknown, but expenses and bills are due now. You are not alone; many contractors feel the same way. Owning a construction company is so much different from just working for another construction contractor, and in most cases, new contractors had no idea what is involved in the business end of the operation before they started.

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Topics: Contractors Bookkeeping Paperwork, QuickBooks For Contractors, Construction Bookkeeping, QuickBooks Setup Do It Yourself, QuickBooks Construction Accounting, Assisted Do-It-Yourself Contractor Bookkeeping, Painless Paperless Contractor Bookkeeping Services

One of the biggest struggles contracting business owners deal with is the overwhelming amount of paper they have to organize as part of their everyday tasks. Invoices, receipts, bills, contracts, client records, pay applications, insurances, licenses - are just a few that seem to be never-ending "etc". Keeping important documents is necessary. Most contractors go from one extreme to the other. One extreme saves everything for decades, and the other tosses everything out.

What to save? What to toss out? At Fast Easy Accounting, we no longer need to print and save every document in file folders and keep adding new file cabinets. Our paperwork processes ensure your happiness and peace of mind knowing that your papers can be retrieved electronically at any time in the future.

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Topics: Contractors Bookkeeping Paperwork, QuickBooks For Contractors, Construction Bookkeeping, QuickBooks Setup Do It Yourself, QuickBooks Construction Accounting, Assisted Do-It-Yourself Contractor Bookkeeping, Painless Paperless Contractor Bookkeeping Services

 

 

 

 

  Unique Document Management Software Saves Contractor's Time And Money!

Focus Your Energy On Making Money And STOP HERDING PAPER!

FREE For Outsourced Contractor Bookkeeping Services

Contractor Clients Of Fast Easy Accounting

Contact Sharie Right Now 206-361-3950

sharie@fasteasyaccounting.com

 

We Help Contractors Like You Find Ways To Make More Money, In Less Time So You Can Do The Things You Love Doing And Paperwork Is Not One Of Them!

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Topics: Contractors Bookkeeping Paperwork, document management software for contractors

What Paperwork Do We Want?

Contractors Have Asked What Paperwork - They should bring to us in order to get their construction bookkeeping brought current and the simple answer is all of it!

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Topics: Contractors Bookkeeping Paperwork