Successful Contractors Find Keys To Growth And Profit In Their Accounting
Software and the desire to do everything with our phone is the “Grownup’s Version” of the Candy Store all year long.
- With a couple of clicks on my phone, I want to Buy Something
- Pay For Something
- Get Paid Immediately From My Customer
- Have all of the money go in or out of my bank account
- Now how do I then make all the transactions magically go to an accounting system
- Give me nice detailed reports
- Help me make simple and complex decisions
Begin with the end in mind.
Construction Contractors want to know Job Costing on some projects but not on others. How does a Construction Contractor keep it simple to those around them who need to pick up all the loose pieces of paper (paper receipts or electronic documents)?
Start by thinking about the source and how the supplier can help
Home Depot, Lowes, Major Suppliers will email the priced invoice to you. On each of the invoices is a line with a for the Purchase Order.
Purchase Order crosses over from Packing Slips to final priced invoice.
If the Construction Contractor is willing to Tell The Order Desk something (example job name, customer name, customer address), then there is a foundation for job costing reports. Putting all of the receipts for a single job in a Job Folder or Job Envelope will help if you need to make a material return, find a part number, serial number, color used.
Many online Project Management, Estimating, Invoicing or Scheduling Programs will allow pictures to be uploaded. Before and After pictures are great. Helps the Construction Contractor look back or the project for missing items that need to be billed. Resell value of the project to the customer.
In a “Manual Accounting System” or an “Excel Based Accounting System,” all the loose receipt are being added up. If a Construction Contractor loses or files their recap sheet, it is then harder to figure out it a specific job made any money. All the notes are in the folder and who knows where the folder is.
A favorite tool of mine is TSheets
- TSheets is an electronic timecard that can track employees in real time with GPS tracking.
- Are employees on the Job Where You Expect Them To Be?
- One tracking method inside TSheets is tied to Workers Comp requirements for your state.
- Do you have to report hours by Plumbing, Electrical, Heating, Drywall, Framing, etc.?
Web Based Online Time Card For Construction Contractors
Links To QuickBooks Job Costing
Click On The Image Below To Calculate Your Savings!
Fast Easy Accounting
Your Certified TSheets Consultant
For Construction Contractors
Across The U.S.A!
Finally! Construction Contractors have a way for your construction workers to submit accurate time cards chock full of the data needed to generate useful Job Costing Reports without the hassle of pen and paper and the excuse that it takes too long because it can be done on their smartphone!
Another method of tracking is tied to tasks that would help with future Estimating.
Think instead of Kitchen, Master Bath, Main Bath, Powder Room, Deck, Family Room, Den, Man Cave, Patio, Roof, Sun Room, Gazebo, Cabana, Swimming Pool, Shop, Shed, Play Equipment, Landscaping, Rockery.
Why am I saying track this way? Because when you talk to me about your jobs – You describe the room you were working on. In my experience, When you are looking for a new job you are thinking back on other projects by the room not by how many sheets of sheetrock you are going to be using.
- It the new project larger, smaller, fancier, simpler than the previous job?
- Is the new project you are estimating a combination of several other projects?
TSheets, this will give you a concept of time spent on the job.
- QuickBooks Desktop will give you easily Job Profitability Reports.
- Did the job make a profit or was it non-profitable?
- Key things between profitable are the basics.
- Did you change sales tax if required
- Did you charge for Change Orders
- Did you collect a Deposit and apply it properly
Did you give Notice To The Owner and preserve your lien rights. At the end of the job is not the time to think about it as the window has already passed. If you have Job Accounts or a primary supplier that delivers to the job they will send a Notice To The Owner to preserve their lien rights for material. if not consider zlien.
zlien
ZLIEN secures fair payment on every project by making lien rights easy.
No printing out forms, no checking mail orders, and no reading tedious legal documents.
"Mechanics lien and bond claim rights are connected to $960 billion in construction payments every year. We help material suppliers, lenders, and everybody in between easily manage these rights. By making lien rights simple, zlien facilitates successful projects, smooth payments, and happy people. Our mission is to enable all project stakeholders to protect their finances and succeed in their jobs, all without a drop of stress"
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We recommend using your Phone and apps to track your scheduling and send invoices to your customers. But do not expect a Phone App to replace a Construction Accounting System and give you proper reports.
Any time a software says it will do everything it won’t. Perfect Example is MS Office is a full suite of useful software that we all use every day. For all of the ways Excel is used; it does not replace a formal Construction Accounting System but instead, works with Construction Accounting Systems.
Many QuickBooks Desktop Reports can export to Excel and reverse is true many Excel Lists can be imported into QuickBooks Desktop. QuickBooks Desktop does not do everything which is why many
Construction Contractors will have an Estimating Software with the Building Trades specific tasks andpricing or Dispatch Software with a Time Card feature like T-Sheets which imports into QuickBooks Desktop.
We use an Intuit Approved Commercial Host to provide you with access to QuickBooks Desktop in a mobile environment. This is one of the applications modern contractors need in today’s world. With remote desktop application, internet connection and a tablet, notebook, etc.
Many Construction Contractors can work from their mobile office (front seat of their truck). If their tablet or notebook go traveling without them and their data is safe in the cloud.
After Hurricane Sandy, I heard many stories where Construction Contractors had their servers in the basement. What got flooded; their basement! When it is time to leave in a hurry; the last thing that is on the short list to remember to take is the server with the accounting data located in the basement.
Back to happier thoughts, we embrace Cloud-Based products, because many of them can be easily accessed from the phone, tablet, notebook, choice of PC, Mac, and Windows, Android or iPhones.
Our Document Management Systems links to your bank and credit card company.
You manage what documents and data we receive by keeping the feeds up and working. We want to do what we do best – Enter the receipts, invoices, customer payments properly into a Construction Accounting System. For Fast Easy Accounting, this is QuickBooks Desktop Version.
Our Goal is to get everything possible out the data provided, so you the Construction Contractor have information to run your business effectively and make a profit. Help us help you grow.
Without proper information – You are just guessing. We are here to help!
Thinking Happy Thoughts
About The Author:
Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. http://www.fasteasyaccounting.com/sharie-dehart/ 206-361-3950 or sharie@fasteasyaccounting.com
When You Become A Client - Then we can tap into our resources of knowledge and strategy banks. We use the reports hidden in your QuickBooks in order to diagnose and understand your construction business and develop plans and help you implement a path to success for you and you alone because every contractor has unique Strengths, Weaknesses, Opportunities and Threats (S.W.O.T. Analysis) that when understood can lead to a Strategic Roadmap which cannot help but make a lot of money.
We Remove Contractor's Unique Paperwork Frustrations
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For Construction Company Owners who do not need the full power of a QuickBooks for contractors and want 24/7 online access we offer Xero Accounting Online, and we have a custom setup for construction companies. Click Here For More.
This Is One More Example of how Fast Easy Accounting is helping construction company owners all across the USA including Alaska and Hawaii 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 so stop missing out! Call Sharie 206-361-3950 or sharie@fasteasyaccounting.com and schedule your no charge one-hour 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!
Thank You For Reading This Far, And I Hope You Understand we really do care about you and all contractors regardless of whether or not you ever hire our services.
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.
Our Contractor Bookkeeping Services System Is A System
Thinking About Outsourcing Your Contractors Bookkeeping Services To Save Time And Money?
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Business Process Management (BPM) For Contractors
Need Help Now?
Call Sharie 206-361-3950
sharie@fasteasyaccounting.com
Xero Outsourced Construction Accounting Services
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We Are Also Xero Accounting Experts Specializing In Construction Bookkeeping Services
PS: For The Do-It-Yourself Construction Bookkeeper Our Store Has Chock-Full Of QuickBooks Setup Templates, QuickBooks Chart of Accounts And More.
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:
#1 Click Here To Buy An Entire QuickBooks Setup For Your Specific Contracting Company
#2 Click Here To Buy Just The Chart Of Accounts For Your Specific Contracting Company
