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The Fraud Factor: How Outsourced Bookkeeping Can Safeguard Your Company

Posted by Sharie DeHart on Fri, Sep 27, 2024

Fraud can be a significant threat to businesses of all sizes in any industry. Construction companies are not spared and are even more vulnerable to various fraudulent activities, from bid rigging and inflated costs to payroll fraud and misuse of funds. 
 
Many small business owners have become increasingly concerned about fraud after the pandemic. According to SAP Concur (An expense management solutions company), a staggering 85% of businesses surveyed expect the risk of fraud to continue. Making matters worse, many fraudulent acts originate from within businesses themselves. 
 
What can you do as a construction business owner with three or more employees? You can start with essential internal controls that you can implement to safeguard your business:
 
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Topics: Outsourced Bookkeeping Services Red Flags, Outsourced Accounting For Contractors, Outsourced Bookkeeping Services For Plumbing Contr, Construction Accounting, Outsourced Bookkeeping Services, Outsourced Accounting, Contractor, Contractor Tips, Contractor Operating Tips

Plumbing Contractors Have Unique Bookkeeping Needs

Posted by Randal DeHart on Wed, Jul 18, 2012

Plumbing Contractors Have Unique Bookkeeping Needs

  1. Not Just Any Bookkeeper Will Do - Too often plumbing contractors hire the wrong bookkeeper mistakenly believing all bookkeepers are the same. Nothing is further from the truth. Not all plumbers are the same. You would never hire a rough-in plumber with a background in new construction commercial work to be part of your residential remodeling crew because they are trained to rip and tear, yell, get aggressive and bully everyone and everything in their way. The resulting destruction to you, your crew, your company and the poor family whose home you are working would be extremely expensive. Construction bookkeeping you need people trained in construction bookkeeping.

  2. QuickBooks Setup - And choosing the correct QuickBooks Version is the most critical part of all because it is the foundation upon which your entire financial system is built. Put the wrong foundation under your business and it will not matter who is doing the bookkeeping because it will always be a mess and you will never get the reports you really need in order to operate and grow your business profitably. Your Board of Advisors and especially your banker will be unhappy; however, they may not say it outright, just that your loans, lines of credit and referral opportunities may be limited.

  3. Plumbing Contractors - Need people trained in construction bookkeeping not someone with experience in regular bookkeeping. The difference between a Professional Bookkeeping Service and a Cheap Bookkeeper can cost you tens of thousands of dollars a year or more on your bottom line profit.

  4. We Know What To Do - For bookkeeping and reports for you no matter how you charge: Time and Material, Flat-Rate, Cost Plus, Not-To-Exceed, Underground, Rough-In, Trim, Milestones and several other methods.

  5. We Understand Plumbing - Because we have owned and operated plumbing companies. Randal DeHart, our co-founder served a plumbing apprenticeship in the late 1970's and is still licensed as a Journeyman Plumber PL01 in Washington State. We not only talk the talk we walk the walk. We know exactly what challenges you face every day and we can be a valuable resource for you and your plumbing company.

  6. We Know How To - Do the bookkeeping and reports for you no matter how you charge: Time and Material, Flat-Rate, Cost Plus, Not-To-Exceed and several other methods.

  7. We Know How To - Do the bookkeeping and reports for you no matter how you pay your plumbers: Hourly, Commission, Percentage, Salary, Blended Salary and Commission, Prevailing Wage and more.

  8. Inventory Tracking - Can be a nightmare and we have a system for it.

  9. Job Deposits - Customer down payments can be input several ways. There is only one method that will help manage cash flow and save money on taxes and we know how to do it and track it for you in QuickBooks.

  10. Complex Invoicing - With multiple deposits, payments, change orders, payment history and running totals your customer can follow. We prepare these and send them to you as often as you need them.

 

What You Can Expect From Our Plumbing Contractor Bookkeeping Services:

In The Long Run We Save You Time And Money Over Hiring A Cheap Bookkeeper Who Knows Nothing About Plumbing And We Offer Cloud Based Desktop QuickBooks!

 Cloud Based Bookkeeping Services

  • Fully functioning QuickBooks desktop version

  • Export to Excel and Word which is part of the service

  • Print anything directly from QuickBooks, Word or Excel on your own printer

For Construction Company Owners who do not need the full power of QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online and we have custom setup for construction companies. Click Here For More.

This Is One More Example of how Fast Easy Accounting is helping construction company owners just like you 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 and me so stop missing out! Call Sharie 206-361-3950 or sharie@fasteasyaccounting.com and schedule your no charge one-hour consultation

accounting  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! 

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.

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

Click On The Button Below To Download A Free Guide

Contractors Bookkeeping Services Guide >

Business Process Management (BPM) For Contractors

Need Help Now?

Call Sharie 206-361-3950

sharie@fasteasyaccounting.com

Xero Outsourced Construction Accounting Services

QuickBooks Outsourced Construction Bookkeeping Services

We Are Xero Accounting Experts Specializing In Construction Bookkeeping Services

 

About The Author:

Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and construction accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and Xero accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.

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. Check out our Contractor Success Map Podcast on iTunes and Follow Randal on Google+

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Topics: Bookkeeping For Plumbing Contractors, Outsourced Bookkeeping Services For Plumbing Contr

QuickBooks Setup And Chart of Accounts For DIY Contractors
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