Many entrepreneurs operate with their business processes and systems in their heads. They know what they must do daily and how they want to get things done.
Unfortunately, when a construction business grows, and staff need to be hired – or the owner needs to take time away from the company – it's an absolute liability not having processes and systems documented in one place.
To be in business and to remain in business, become a business person! To run a construction business, you must be business-like. It's not sufficient just to be very good at what you do. Many people who are 'very good at what they do' have failed. The familiar cry: "I'm far too busy for that," is also no excuse. Are you 'too busy' to be a competent businessperson? If so, your construction business won't last long. You must continue to develop your business skills.
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Topics:
Bookkeeping,
Outsourced Accounting,
QuickBooks Construction Accounting,
QuickBooks Do-It-Yourself construction Bookkeeping,
Construction Accounting Academy
Not everyone knows construction accounting, and it is easy to assume all accounting is the same. Even if you have outsourced your financial functions, as a small construction business owner, having a solid understanding of critical financial concepts is crucial to work with your advisor and 'speak their language". This article outlines several essential concepts that every small business owner should know.
Construction is a tricky business, and people's failure is expected. Most of our clients have either failed or come very close. It doesn't matter how many times you are knocked down; it only matters that you learn your lessons, get up, and go again. We noted these lessons years ago, owning and operating our construction company. By building a system and gaining insight from us, you can pick up from our mistakes, which you don't have to go through and can start avoiding before it comes crashing down.
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Topics:
Bookkeeping,
Outsourced Accounting,
QuickBooks Construction Accounting,
QuickBooks Do-It-Yourself construction Bookkeeping,
Construction Accounting Academy
When you own a small construction business, it's vital you understand how money flows into and out of it. At a basic level, you need to know where your income comes from and what your expenses are. At a deeper level, knowing how money moves through your business can help you make strategic decisions about growth, invoicing, and debt management.
The consequences of not understanding money can be drastic—poor financial management is one of the main reasons businesses fail. That's why you need to understand cash flow.
What is cash flow?
[Starting Cash + Cash In - Cash Out] = Cash Flow
Before you can start to understand your cash flow, you need to know what cash flow is. Cash flow refers to the movement of money into and out of your business. It's fundamentally understanding how much money is coming into your business (your income, loans, and transfers of personal funds into the company) versus how much is leaving (your expenses, taxes, and loan payments).
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Topics:
Construction Cash Flow,
Cash Flow,
QuickBooks Do-It-Yourself construction Bookkeeping,
Contractor,
Contractor Tips,
Contractor Operating Tips,
Construction Systems And Processes
Fast Easy Accounting Do-It-Yourself
Construction Accounting Store Is Open For Business
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:
If QuickBooks is not working and how our Do-It-Yourself Solution may be the answer you have been searching for long and hard.
Our QuickBooks Setup and Stand Alone Chart of Accounts Store For Construction Contractorshas packages with 200 to 1100 accounts specifically designed for Contractors all across the USA Including Alaska and Hawaii and cover a wide spectrum of contractor accounting needs.
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Topics:
QuickBooks Setup,
Assisted Do-It-Yourself Contractor Bookkeeping,
QuickBooks Do-It-Yourself construction Bookkeeping
