This Podcast Is Episode 598, And It's About Essential Strategies For Sales Success In The Construction Business In the competitive construction world, having a strong sales strategy is essential for sustaining and growing your business. A well-defined approach can increase your project pipeline and create lasting client relationships.    It will give you a framework for generating leads, closing deals, and ultimately increasing revenue through nurturing existing accounts, thought leadership, and practical pricing discussions.   Here are some effective sales strategies to help construction business owners like you achieve solid sales success.   1. Understand Your Market   Before you embark on any sales strategy, it's crucial to understand your target market comprehensively. Research local demographics, infrastructure needs, and industry trends. This knowledge will serve as the foundation for tailoring your offerings and marketing efforts to meet specific demands, increasing your chances of success.   2. Build a Strong Brand Presence   In construction, reputation is everything. Establishing a recognizable brand that reflects your values and quality of work can significantly enhance your credibility. Invest in professional branding, including your logo, website, promotional materials, and social media presence. Your online image should portray reliability and professionalism.   3. Leverage Networking Opportunities   Networking is vital in the construction industry. It's not just about meeting potential clients, suppliers, and contractors but also about building a community and fostering collaborative opportunities. This sense of connection and engagement can lead to referrals and partnerships, so follow up with contacts after initial meetings.   4. Create Value Through Education   Write and share blog posts or offer free workshops or webinars that provide valuable information about your expertise. This not only positions you as an industry authority but also shows that you respect your potential clients by providing them with practical knowledge.   Participate in industry events and forums to showcase your knowledge.  Collaborate with other thought leaders to broaden your reach and credibility.   Pro Tip: Repurpose your valuable content into different formats, such as infographics or podcasts, to reach a wider audience and cater to various preferences for consuming information.   5. Use Technology Wisely   Utilize customer relationship management (CRM) software to track leads, manage client interactions, and analyze sales performance. Project management tools can help streamline operations and improve communication with clients. The more organized and efficient you are, the more your chances of closing sales improve.   Remain adaptable:    Stay informed about market trends and changes that could impact your business.  Regularly review and assess the effectiveness of your sales strategies and be willing to pivot as needed.  Encourage team input on potential improvements and innovations in your sales approach.   6. Personalized Follow-Ups   After meeting a potential client or completing a project, a personalized follow-up is not just a nice gesture; it's a strategic move. Send thank-you notes, check their satisfaction, or offer additional services that complement the previous project. These personal touches can turn potential leads into loyal clients, strengthening your business relationships.   Nurture existing accounts:    Schedule regular check-ins with current customers to maintain relationships.  Use social media to engage with customers through personal messages and content.  Identify opportunities for upselling and cross-selling based on customers' past purchases.   Pro Tip: Again, you can leverage CRM software to automate check-in reminders and track engagement history, ensuring no account is overlooked.   7. Develop a Referral Program   Word-of-mouth is one of the most powerful sales tools in the construction industry. Offer incentives, such as discounts on future projects, to encourage satisfied clients to refer you to their friends and family. This not only rewards existing clients but also expands your customer base organically.   8. Focus on Client Service   Exceptional customer service sets you apart from your competitors. Ensure your team is trained to provide a positive experience from the initial consultation to project completion. Being responsive, transparent, and attentive to client needs fosters trust and satisfaction—critical ingredients for repeat business.   Craft custom pitches:   Conduct thorough research to understand your prospects' unique challenges and pain points.  Tailor your sales messaging to address these specific needs and solutions.  Follow up with prospects to gather feedback and adjust your pitch.   Pro Tip: Incorporate a discovery phase in your sales process where you actively listen to your prospects' concerns and needs. This will enable you to tailor your pitch with relevant examples that resonate with them.   9. Set Measurable Sales Goals and Be Transparent   Establish clear, measurable sales goals to keep your team focused and motivated. Implement regular check-ins to assess progress and adjust your strategy as needed. This collaborative effort helps reinforce team accountability and align everyone toward a common objective.   Handle pricing discussions transparently:    Research and understand your audience's preferences on when to discuss pricing.  Prepare clear, value-focused pricing proposals that highlight your product's or service's benefits.  Keep communication open and be willing to answer any price-related concerns.   Pro Tip: Use storytelling to illustrate the value of your product in real-world scenarios. This will help customers imagine the positive impact of their investment and facilitate a smoother discussion about pricing.   10. Embrace Feedback   Feedback from clients is invaluable. After project completion, request input on their experience working with you. This signals your commitment to improvement and helps refine your sales approach. Clients appreciate companies that value their opinions, which can lead to repeat business and referrals.   Pro Tip: Regularly seek feedback from your sales team and customers about their experiences and what they feel could be improved, ensuring that your approach remains customer-centric and responsive to their needs.   FInal thoughts   Implementing a solid sales strategy in your construction business requires a combination of marketing acumen, relationship-building, and a commitment to customer satisfaction. Understanding your market and leveraging technology while providing exceptional service can enhance your sales efforts and set your business up for long-term success. Your construction company can thrive in challenging market conditions with a structured approach and continuous evaluation.   Following these steps will give you a robust sales strategy; after all, closing a sale means opening and building lasting relationships. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 597, And It's About Key Questions To Help Evaluate And Operate Your Construction Business External factors, such as economic changes or technological advances, can significantly impact whether a business will thrive or fail. The rise of sharing and gig economy apps is an excellent example. These apps gave consumers more affordable options for daily tasks and errands and provided individuals with a new way to earn money on their schedules.   Running a business is a fascinating journey. But it's essential to thoroughly evaluate your company before moving further to ensure you're creating a sustainable and successful venture.   Costs may be high, requiring careful planning. You may need to educate your customers and convince them to adapt to your business before they're ready to use it or hire you. And let's remember the competition that already exists in the market.   Competitor research is critical to evaluating your company when it's just starting out. Knowing your competitors, their operations, and their strengths and weaknesses will help you create a successful strategy. To start with, through phone conversations or in-person chat, I usually tell our clients to consider these top five questions: 1. What are my short-term and long-term business goals? 2. How well do I understand my target market and customer needs? 3. What sets my construction company apart from competitors? 4. Am I effectively managing my financial resources and cash flow? 5. Do I have a clear marketing and branding strategy in place? If you know the answers, the questions will not bother you. - Randalism In school, when you sat for an exam or a test, and you knew the material forwards and backward, it was fast and easy. The exams and tests for the classes you struggled with were the opposite. Having a Business Process Management Plan answers the questions about how to run your business because it is something you developed. Not something someone else did and handed to you. As you build and grow your construction business, you must constantly evaluate and reflect on your progress. By investing a little effort now, you can save money, time, and heartache. Asking yourself the right questions can help you navigate challenges, make informed decisions, and set strategic goals for the future. Here are some key questions to consider as you learn more about your construction business: 1. Financial Performance: How is the overall financial health of the business? Are there any significant fluctuations in revenue or expenses? What is the profitability of different projects or contracts? It's important to know what resources, including financial capital, you need to start and maintain your company. It's also important to know what barriers exist. These barriers include high startup costs, tough competitors, or regulatory hurdles that may need to be overcome. 2. Operational Efficiency: Are projects being completed on time and within budget? What is the status of current projects in terms of milestones and deadlines? Are there any recurring operational challenges or bottlenecks? Consider what systems and tools you can implement to streamline operations and improve efficiency. 3. Customer Satisfaction: How satisfied are your clients with the quality of work and customer service? Are there any common feedback or complaints from clients? What steps are being taken to address customer concerns and improve satisfaction? Evaluate how you can foster strong relationships with clients, suppliers, and subcontractors by understanding the current market and trends and being an active listener. 4. Employee Engagement and Development:  How engaged are my employees in their work?   What opportunities are available for professional development and growth?   Are there any notable retention or recruitment challenges? Not everyone is an expert at everything. You have to ask yourself whether you have the right skills to launch and run the business or who you can gather around you to support you. 5. Compliance and Risk Management:  Am I up to date with relevant industry regulations and standards?  What measures are in place to mitigate potential risks in projects?  Are there any outstanding legal or compliance issues that need attention?  How do I prioritize safety and compliance in my construction projects? Not every project is guaranteed success. There are always inherent risks involved in starting a new venture. Evaluating these risks and creating contingency plans to address them is an integral part of the evaluation process, especially ensuring that your company complies with regulations and industry standards. Of course, measure and track the results of your journey and improvements. I do not intend to deter you with this post; my goal is to encourage you to think about what you must do to turn your company into a successful business and fill in the spots you may have missed. Balancing various responsibilities within a limited timeframe can be challenging, and time equals money. You might be better off focusing on your skills, but hiring help under your payroll is unnecessary. You can, however, outsource tasks like: 1. Administrative Responsibilities such as bookkeeping, invoicing, and paperwork can be overwhelming for solo business owners also focused on project management and client communication. 2. Financial Management Many solo construction business owners require assistance with financial tasks such as budgeting, accounting, and tax preparation to ensure compliance and economic stability. 3. Time Management Assistance with time management strategies and tools can significantly benefit solo business owners like you. 4. Legal and Compliance Matters Understanding and adhering to complex legal and compliance requirements, including permits, licenses, and safety regulations, often requires external support to avoid potential pitfalls. 5. Marketing and Business Development Generating leads, marketing services, and expanding the business can be daunting for construction business owners who may need guidance on effective marketing strategies and business growth opportunities. 6. Professional Development Staying updated with industry trends, new technologies, and best practices often requires external resources and support, especially for solo contractors juggling multiple roles. Final thoughts Building a successful business is not a sprint; it's a marathon. By regularly reflecting on these questions and seeking answers, you can gain valuable insights into your industry, identify areas for improvement, and make well-informed decisions to drive sustainable growth. Continuous learning and self-assessment are not just tools but the cornerstones of building a successful construction business. Stay committed, stay motivated, and keep learning. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 596, And It's About Overcoming Solo Contractor Challenges: How MAP Can Simplify Operations Does this sound like you? Maybe you started your company with a few friends and relatives as your earliest clients, and you thought your overhead expenses would be low since you worked out of your home. You made a decent living for yourself, hired a few sub-contractors per project, paid your suppliers, and earned a profit—at least that is what your tax preparer said.    Things begin to change, and the reality of the construction industry begins to dawn on you. Those early customers who were your friends because you could get faucets, fixtures, and materials at wholesale prices now tell you they were happy with your work. They want your construction company to do all their future work (and refer you to their closest neighborhood friends) as long as your price is lower than the other bids they are getting.   Yes, this kind of business builds your integrity, but at the same time, you are dirt-poor. Why? Because as a construction company owner, you now have overhead no matter what business entity you operate. It's not just office overhead; you have field overhead, too.    Office overhead includes expenses like shop rent, office rent, standard area management fees, bookkeeping, insurance audits, quarterly tax returns, office payroll, utilities, a computer, an administrative assistant, insurance, contributions, associations dues, etc. Field overhead includes tools and equipment, cell phone liability insurance, contributions, and more. This is not even an extensive list, but you have to manage all these things simultaneously to keep your company going and your prices competitive. Starting a construction business can be both challenging and rewarding. If you're considering venturing into this industry, whether you've just started or are just emerging, it's essential to have a strategic plan in place to manage your business effectively. Here are some key steps to help you manage your construction business successfully from the outset. 1. Develop a Solid Business Plan: Before diving into the world of construction, it's crucial to have a comprehensive business plan that outlines your goals, target market, financial projections, and marketing strategies. A well-thought-out business plan will serve as a roadmap for your company's growth and help you secure funding if needed. 2. Obtain the Necessary Licenses and Permits: Compliance with local, state, and federal regulations is vital. Make sure to obtain all the required licenses and permits to operate legally. This may include contractor licenses, building permits, and adherence to zoning regulations. 3. Build a Strong Financial Foundation: Managing the finances of your construction business is critical to its success. Set up a separate business bank account, track all expenses and income, and consider hiring a professional accountant to manage your books. Additionally, secure adequate insurance coverage to protect your business from potential risks. 4. Invest in Quality Equipment and Tools: Invest in reliable construction equipment and tools to deliver high-quality work. Whether it's heavy machinery, power tools, or safety gear, having the right equipment is essential for efficiency and safety on the job site. 5. Establish a Network of Reliable Suppliers and Subcontractors: Building solid relationships with suppliers and subcontractors is key to ensuring a smooth construction process. Look for reputable suppliers who can provide quality materials at competitive prices and subcontractors who have a track record of delivering exceptional work. 6. Focus on Safety and Compliance: Prioritize safety on your job sites by implementing proper safety protocols and providing ongoing employee training. Additionally, stay current with industry regulations and standards to ensure compliance with all safety and building codes. 7. Implement Efficient Project Management: Effective project management is crucial for delivering projects on time and within budget. Use project management software to streamline communication, track progress, and manage resources effectively. 8. Marketing and Branding: A strong brand presence is essential for attracting clients in the competitive construction industry. Invest in professional branding, create a user-friendly website, and leverage social media platforms to showcase your work and connect with potential clients. 9. Prioritize Customer Satisfaction: Building a positive reputation in the construction industry relies heavily on delivering exceptional customer service. Focus on understanding your client's needs and expectations and consistently strive to exceed them. 10. Stay Informed and Adapt: The construction industry is constantly evolving, so it's crucial to stay informed about new technologies, trends, and best practices. By adapting to market changes and continuously seeking growth and improvement opportunities, you can stay ahead of the curve and ensure the success of your business. As the sole owner, you have the freedom to make decisions and steer the direction of your business. This sense of control and empowerment is a significant advantage, but it also means you bear the full responsibility for its success or failure. Simply put, to navigate this path successfully, you must focus on several key areas to ensure the growth and sustainability of your construction business: Marketing - Accounting - Production Marketing Building a solid network of clients, suppliers, and industry contacts is invaluable as a sole proprietor. Utilize social media, industry events, and local business networks to promote your services and build relationships within the construction community. This network can provide support, advice, and potential business opportunities, helping you navigate the challenges of running a construction business. Consider specializing in a particular type of construction work or offering unique services that set you apart. Whether eco-friendly remodeling, custom carpentry, or historic restoration, having a niche can attract a specific clientele. Accounting Separating personal and business finances is essential to maintaining clarity and accuracy. Setting up a dedicated business bank account and diligently tracking all income and expenses will help you stay on top of your finances and make informed decisions. Additionally, establishing a solid accounting system is vital. Keeping detailed records of all financial transactions, including invoices, receipts, and expenses, will not only help you maintain compliance with tax regulations but also provide valuable insights into your business's financial health. Production As the face of your business, delivering high-quality work and exceptional customer service will help you build a strong reputation and generate positive word-of-mouth referrals. Stay informed about licensing, permits, and safety regulations relevant to your construction business. Remaining compliant not only ensures the smooth operation of your business but also helps you avoid potential legal issues. Final thoughts While you may possess exceptional skills in your craft, managing the business side of things effectively is crucial for long-term success. Investing in professional development and staying updated with industry trends and best practices is vital for long-term success. Continuing education, obtaining relevant certifications, and keeping abreast of technological advancements in the construction sector will give you a competitive edge in the market. Success in the construction industry goes beyond technical skills. It also requires strong business acumen and a dedication to professionalism. You can build a thriving and reputable construction business with the right approach. Remember, you don't have to go through this alone. Going solo means you do what you do best and can outsource the rest, like your bookkeeping, for instance. We look forward to hearing from you. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 595, And It's About The Fraud Factor: How Outsourced Bookkeeping Can Safeguard Your Company 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:   1. Segregation of duties A critical first step in preventing fraud is ensuring that no one individual has control over all aspects of any significant transaction. For example, the person who approves expenses should not be the same one who processes payments. Distributing tasks among multiple employees significantly reduces the chances of fraudulent activity going unchecked. This internal control is important for small businesses, where roles may overlap, making it crucial to ensure that checks and balances are in place. 2. Regular financial reconciliation Routine reconciliation of financial statements, such as bank statements, helps identify discrepancies or unusual transactions early. Create a monthly or quarterly schedule to compare transactions in your accounting software against bank records. If you have an accountant, engage them in this process to ensure the highest level of scrutiny. Keeping a close eye on these financial statements not only helps to identify potential fraud but also aids in maintaining accurate financial records. 3. Comprehensive access controls Restricting employee access to financial systems and sensitive data is vital for reducing fraud risk. Employees should only have access to the information and functionalities necessary for their roles. For example, HR staff should not have access to accounts payable functions. Implement multi-factor authentication (MFA) and regular password updates to bolster security further. This internal control limits potential opportunistic fraud and shows employees that the organization takes security seriously. 4. Employee training and awareness Educating employees about fraud risks and the importance of internal controls is essential. Regular training sessions should cover how to identify and report suspicious activities. Encourage a culture of transparency and communication so employees feel comfortable voicing concerns. Consider using real-world examples pertinent to your industry to make training more relatable. This approach empowers employees to act as your first line of defense and reinforces the importance of safeguarding the organization's assets. 5. Whistleblower policy Establishing a robust whistleblower policy encourages employees to report unethical behavior or fraudulent activities without fear of retaliation. Ensure that this policy is well-publicized and accessible to all staff. Consider offering anonymous reporting channels, such as hotlines or secure email addresses. A firm whistleblower policy enables early detection of fraud and fosters a culture of accountability and ethical behavior within the organization. 6. Comprehensive internal audits Regular internal audits by internal staff or external auditors serve as an additional layer of scrutiny. These audits can help identify weaknesses in your internal control systems and recommend improvements. Make sure to continuously act on the recommendations in audit reports to enhance your fraud prevention strategies. Regular audits help identify vulnerabilities and demonstrate to stakeholders that the organization is committed to maintaining financial integrity. 7. Automated financial monitoring systems Consider investing in automated financial monitoring systems that provide real-time insights into transactions and identify anomalies that may indicate fraudulent activity. These systems often use machine learning algorithms to adapt to standard transaction patterns and alert you when something seems off. For example, if an employee typically submits monthly travel expenses of around $500 and suddenly claims $5,000, the system can flag this anomaly for further investigation. Automated systems enhance fraud detection capabilities and reduce the manual workload on finance teams. Many construction businesses outsource their accounting functions to mitigate these risks, so it makes sense to outsource these critical financial tasks to a construction bookkeeping and accounting expert. 1. Expertise and Experience: Professional bookkeeping and accounting firms are a beacon of reassurance for construction companies. By outsourcing these functions, you can tap into the expertise and experience of professionals who understand the industry's specific financial challenges and requirements. 2. Fraud Prevention and Detection: Outsourced bookkeeping and accounting services can help identify and prevent fraudulent activities within a construction business. Professional accountants have the knowledge and tools to spot irregularities, discrepancies, and red flags that may indicate potential fraud, providing an extra layer of protection for the business. 3. Cost Savings: While it may seem counterintuitive, outsourcing bookkeeping and accounting can lead to cost savings for construction companies. By engaging external experts, businesses can avoid the expenses associated with hiring and training in-house staff and the costs of maintaining accounting software and systems. 4. Focus on Core Business Activities: Outsourcing bookkeeping and accounting can liberate construction companies from financial paperwork, allowing management and staff to redirect their time and resources to core business activities. This shift in focus can enhance project management, client relationships, and business development, fostering a sense of liberation and increased productivity. 5. Compliance and Regulation: The construction industry is subject to various regulatory requirements and compliance standards, particularly in financial reporting and tax obligations. Outsourcing bookkeeping and accounting ensures businesses stay on top of these regulations, reducing the risk of non-compliance and associated penalties. In conclusion These internal controls will help protect your construction company against fraud and financial mismanagement. They serve as a solid foundation to build upon as your business grows and its specific needs evolve. Remember, the key to effective fraud prevention is having these controls and regularly reviewing and updating them to adapt to new risks and challenges. Construction business fraud presents real and significant risks to industry companies. Outsourcing bookkeeping and accounting functions can provide construction businesses with the expertise, fraud prevention capabilities, cost savings, focus, and compliance support needed to safeguard your financial integrity and success. By leveraging the specialized skills of external professionals, you can better protect your construction company against fraud, instilling a sense of security and confidence in your financial operations. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 594, And It's About Crafting Your "To-Don't" List As A Construction Business Owner Your to-do list is often long and constantly growing longer when you're an entrepreneur. There are a lot of things you need to do, and it can feel like they're all urgent. In such cases, it's easy to push essential tasks to the side and focus on less vital activities, but that often means you miss deadlines, make mistakes, or always feel like you're trying to catch up.   Here are some ways to determine the most productive order to complete your tasks.   1. Know all of your tasks   It isn't enough to have a running list of tasks in your head; you need to write them out so you can see them at a glance. Take the time to list all your tasks, and break down large tasks into smaller steps.   Write a list of the activities you must do for the week—or even the next two weeks—on Monday morning. Include information such as how urgent they are, how long they'll take to complete, and their deadlines.   Now you know what you'll need to complete and when.   2. Determine what tasks are vital   There are many methods for determining which tasks are the most vital. We'll go into the Eisenhower Decision Matrix and the ABCDE Method.   In the Eisenhower Decision Matrix, you classify each task into one of four quadrants. These quadrants are based on whether the task is important, urgent, or neither. Tasks that are important and urgent should be done first, followed by those that are either important but not urgent or urgent but not important, and finally, those that are neither important nor urgent. If possible, delegate tasks that aren't both important and urgent to someone else.   Another method is the ABCDE method, in which you assign each task on your list a letter from A through E based on its level of importance. Tasks with a level of A or B are the most important, while D and E are unnecessary. Anything from C down can likely be rescheduled or delegated to someone else.   3. Schedule your tasks   Now that you know which tasks are the most important, schedule your to-do list in that order. Write yourself a daily list that puts the most critical functions at the start of your day. Don't overschedule yourself, though. After all, there's a good chance that a new, essential, and urgent activity will arise during your week, and you'll need the space in your calendar to address it.   Give yourself deadlines in the day to get the work done based on a reasonable assessment of how long the activity should take you. You can also chunk your work, setting aside specific, uninterrupted periods to do focused work and then scheduling breaks around that. Ensure you turn off distractions and let your colleagues know you aren't available during those times.   As a construction business owner, consider outsourcing various operations to improve efficiency and focus on core business functions. Some tasks that can be written down under your "To-Don't List" and outsourced include:   1. Accounting and Bookkeeping: Hiring a professional accounting firm can help manage your finances, provide accurate financial statements, and ensure compliance with tax regulations.   2. Project Management: Outsourcing services can help streamline construction projects, ensuring they are completed on time and within budget.   3. Marketing and Advertising: Working with a marketing agency can help promote your construction business, generate leads, and enhance your online presence.   4. IT Support: Tech services can ensure your technology infrastructure is well-maintained and secure, allowing you to focus on your construction projects.   5. Legal Services: Hiring a legal firm specializing in construction law can help protect your business and navigate complex legal matters.   6. Human Resources: They can assist with recruitment, payroll, benefits administration, and compliance with employment laws.   As a short reminder that you can ponder on:    To-Don't List for Construction Business Owners   Don't ignore safety protocols and regulations Don't neglect regular equipment maintenance Don't overlook obtaining the necessary permits and licenses Don't avoid clear and detailed contracts for projects Don't skip regular communication with clients and employees Don't disregard the importance of staying updated on industry trends and technology Don't underestimate the importance of accurate and timely financial record-keeping Don't hesitate to seek professional advice when needed   Outsourcing bookkeeping and accounting can offer significant benefits to construction contractors.   Here's why it's essential to consider adding these tasks to the to-don't list:   1. Expertise and Compliance: Navigating the complexities of construction accounting requires specialized knowledge. From job costing to progress billing, having professionals who understand the industry's intricacies is invaluable. Outsourcing ensures access to experts who comply with industry-specific regulations and standards.   2. Time and Focus: Managing bookkeeping and accounting in-house demands time and attention that could be better directed toward core business activities. By outsourcing these tasks, contractors can refocus on project management, client relationships, and business growth, ultimately increasing productivity and efficiency.   3. Cost-Effectiveness: While some might perceive outsourcing as an added cost, it can be a cost-saving measure in the long run. By avoiding hiring and training in-house accounting staff and investing in accounting software and infrastructure, contractors can achieve significant cost savings by outsourcing.   4. Scalability and Flexibility: As construction businesses fluctuate with project demands and seasonal variations, the scalability and flexibility offered by outsourcing are invaluable. Whether managing peak periods or adjusting to business contractions, outsourced accounting services can adapt to the contractor's needs.   5. Reduced Errors and Risk Mitigation: Bookkeeping and accounting errors can have costly implications for construction contractors. Outsourcing to professionals reduces the risk of mistakes, ensures accurate financial records, and mitigates potential risks associated with economic mismanagement.   In conclusion   As construction contractors like you craft your to-do lists, you should also consider the tasks that belong on the to-don't list. Outsourcing bookkeeping and accounting offers a strategic advantage, providing access to specialized expertise, freeing up time and focus, and delivering cost-effectiveness, scalability, and risk mitigation. By recognizing the value of outsourcing in these critical areas, you can position your business for tremendous success and growth.   Remember, these "to-don'ts" are as important as the "to-dos" for a successful construction company.   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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 593, And It's About Creating A Strong Personal Brand For Your Construction Business In today's competitive business landscape, establishing a personal brand is essential for standing out in the construction industry. Whether you're a contractor, architect, or engineer, cultivating a professional image differentiates you from competitors and fosters trust and credibility among clients and partners.    The words "personal brand" are still somewhat controversial and carry an unfortunate cast of self-promotion and vanity. However, personal branding is more important than ever in the job market, and those without a clear personal brand or mission to create one are lagging behind the competition.    What is a personal brand? How you present yourself has always been important in the workplace. In the corporate heyday, it was established that to get a good job and be considered for promotion, you had to dress, speak, and act appropriately for the company with which you were employed. Consider this the forerunner of the personal brand; now, you create an impression of yourself and your company that clients and homeowners want to hire. Personality versus personal brand Do not mistake your personality for what constitutes an attractive personal brand. In the age of social media, everyone is Googling prospective companies and employees, and personal information is available at their fingertips. If there are unattractive photographs of you on Facebook, personal details about your family, or complaints about your work, delete them or make them private. Now would be an excellent time to set up work-only accounts and separate your social and corporate friends lists. Promote yourself professionally on the Internet. When creating a profile or website, what photographs are you using? What typefaces and colors do you use? What are you saying? The handwriting font may appeal to you, your favorite color may be baby pink, or that picture of you wearing a Halloween costume may show your best side, but ask yourself: would you hire you based on your tastes? Remember, this is not about changing who you are but highlighting your best assets. Though companies are growing ever larger, there is more competition for fewer jobs. Always look professional and remain visible within your community. You must update your brand and create an image of yourself showcasing your proficiency in your services and transferable skills and achievements. Here are some critical strategies for creating a compelling personal brand for your construction business: 1. Define Your Unique Value Proposition Identify what sets you apart from others in the construction industry. Consider your expertise, experience, and the specific value you bring to clients. This could be your commitment to quality, innovative design approach, or exceptional customer service. Articulating your unique value proposition forms the foundation of your brand. 2. Develop a Consistent Brand Identity Consistency is key to building a solid personal brand. This includes everything from your visual identity (logo, color scheme, and imagery) to your communication style and how you present yourself professionally. Consistent branding helps create a strong and memorable impression on your target audience and builds trust in your expertise. 3. Showcase Your Work One of the most powerful ways to establish your brand in the construction industry is by showcasing your work. This could be through a professional portfolio featuring completed projects, case studies, testimonials from satisfied clients, and before-and-after transformations. Highlighting your successful projects demonstrates your capabilities and the quality of your work. 4. Leverage Social Media and Online Presence In today's digital age, an online presence is crucial for building a personal brand. Utilize social media platforms like LinkedIn, Instagram, and Facebook to share valuable content related to your expertise, such as industry insights, project updates, and client tips. Engage with your audience, participate in relevant discussions, and demonstrate your thought leadership in construction. 5. Network and Build Relationships Networking is a powerful tool for personal branding. Attend industry events, join professional associations, and engage with other professionals in the construction sector. Building strong relationships with peers, clients, and industry influencers can significantly enhance your brand and open up new opportunities for your business. 6. Provide Exceptional Customer Service A positive client experience is fundamental to personal branding in the construction business. Consistently delivering exceptional customer service and prioritizing client satisfaction builds a strong reputation and fosters positive word-of-mouth referrals, which are invaluable for reinforcing your brand image. 7. Emphasize Your Expertise through Thought Leadership Share your knowledge and insights to establish yourself as a thought leader in the construction industry. This could involve writing articles for industry publications, speaking at conferences, or hosting webinars. Positioning yourself as an expert reinforces your brand and enhances your credibility. Remember that branding is just another marketing word. You are selling yourself in the construction industry daily by making yourself available and preferable for different responsibilities and projects. Do not be afraid to ask for others' input. Ask previous project managers why they chose you for specific tasks, or ask your clients what word jumps into their minds when they hear your name. Reliability? Professionalism? Authority? Or is it something negative? Ask for honesty, and receive criticism with grace. Final thoughts Personal branding is a powerful tool­ you can use to your advantage or detriment. Use it wisely; it might be the most important thing you ever do for your career. By implementing these strategies, construction professionals like you can effectively create a personal brand that resonates with your target audience differentiates you from competitors and ultimately contributes to the success of your business. Remember that personal branding is an ongoing process that requires consistent effort and a genuine commitment to delivering value to clients and the industry. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 592, And It's About Tips For Working With Banks And Lenders In the Construction Industry If your company is experiencing rapid growth, you might find yourself navigating a good news/bad news situation: while your sales figures climb, managing cash flow becomes increasingly complex, pushing you to seek additional financing to meet the rising demand. Consider this scenario: A couple wanting to sell their house expresses interest in your remodeling service, presenting an exciting opportunity that could significantly elevate your construction business. However, they have a requirement: they want the job done in three weeks. Now, you're caught in a challenging position. Declining could mean missing out on a lucrative partnership, yet agreeing could strain your cash reserves. You're not alone in this struggle; many businesses face similar hurdles when scaling operations or entering new partnerships, especially when balancing cash flow and the cost of fulfilling the project on time. To build a stronger case when approaching your financial institution for support, it's essential to understand how bankers think and what they look for in terms of business viability. A solid business plan is just the beginning; you must clearly outline your financial needs and establish a robust strategy highlighting your project's viability. Here are some practical tips to help you prepare for that crucial conversation—and improve your chances of a successful outcome. Understanding your financial institution Understanding how financial institutions—such as national banks, regional banks, credit unions, and other lenders—operate is essential for enhancing your borrowing potential. Here are some fundamental operating principles to consider: 1. The difference between being bankable and lendable. Every entity with financial records is bankable: you can open a business account, deposit revenues, and pay bills. However, to be deemed lendable, you generally need at least three years of financial statements and tangible assets, inventory, or accounts receivable to serve as collateral. A minimum risk rating is also required. Understanding your company's financial performance is crucial before approaching your banker for additional funding. 2. How financial institutions evaluate creditworthiness. The approach that financial institutions take to assess creditworthiness is constantly changing. Evaluating a business often involves several decision-makers, so bankers may use a behavioral-based model to determine your credit score. This score typically merges performance metrics from businesses within your industry and assesses your business's history with the current financial institution, which includes factors such as borrowing and repayment patterns, cash cycles, and customer payment terms. 3. Banks often don't value foreign assets. Many banks need help assigning value to overseas assets, including foreign accounts receivable. The reason for this caution is straightforward: if repayment issues arise, banks face challenges in recovering losses when collateral assets are internationally situated. This situation can lead to reduced financing possibilities and limit the size and number of contracts your business can manage simultaneously. 4. Competition for loan dollars When you seek financing from your bank, remember that you are competing with other businesses for the same loan funds. Therefore, it's vital that you present your case clearly and persuasively. The following section outlines the essential elements you need to include. 5. Time constraints of account managers Your financial institution's account manager likely balances a diverse portfolio of clients, each with distinct needs and business backgrounds. To ensure a successful meeting, providing a concise business plan and well-presented financial statements will significantly enhance your chances of a favorable outcome. Essential documents to take to your lender With an understanding of how banks operate, it's time to prepare your documentation and refine your pitch. 1. Define your request Clarifying your financial request is crucial. Take the time to outline precisely what you need from your financial institution. Whether it's bridging the gap between supplier payments and customer receipts or funds to secure materials for a significant contract, presenting your pain points will aid your account manager in determining the appropriate financing solution—a loan or line of credit. Keep in mind that loans provide a limited credit amount that must be repaid in full, while lines of credit offer revolving access, allowing for continuous borrowing within a predetermined limit. 2. Compile financial statements Financial institutions generally favor established companies with a history of economic stability. Aim to have at least three years of financial statements ready to demonstrate your business's viability. If your business is newer or has unusual financial trends, be prepared to share future projections that reflect your anticipated growth. For younger businesses, pursuing financing for specific transactions can enhance your credibility. 3. Evaluate your collateral For small business lines of credit, banks typically require $2 in collateral for every $1 financed. Understand what collateral you can offer, including capital assets, inventory, or accounts receivable. Capital assets consist of real estate and equipment, which banks may be reluctant to accept due to liquidation challenges. Inventory - this can be used at a discounted valuation, depending on its quality and turnover rate. Accounts Receivable: Domestic receivables with short payment terms may be accepted, while international receivables are often unsupported. 4. Perfect your pitch With your understanding of the bank's considerations, ensure your pitch stands out. Develop a well-prepared presentation that balances enthusiasm for your construction business with sound financial planning. Your banker will appreciate your passion, but they'll also seek reassurance that you have a strategic plan. Be ready to discuss the reasons behind your working capital need and the unique aspects of your business that set you apart. Additionally, if you aim to enter a new market, prepare to articulate the associated risks and benefits and your long-term vision for growth. 5. Mitigate your bank's risk To improve your chances of securing working capital, demonstrate to your bank that you understand and can mitigate their risks. They will need confidence in their ability to recover funds if repayment becomes an issue. Following these guidelines will enhance your approach to securing financing from your financial institution, ultimately positioning your business for sustainable growth and success. In Summary What can you expect from us? Banks typically require several documents from a construction business to approve a loan. These may include: 1. Profit and Loss Statement - overviews the business's profitability. 2. Balance Sheet - shows the company's assets, liabilities, and equity at a specific point in time. 3. Business Plan - details the construction company's operations, market analysis, and financial projections. 4. Tax Returns - typically, banks ask for the business's tax returns for the past few years. 5. Projected Cash Flow - provides insight into the company's ability to repay the loan. 6. Business Licenses and Permits - banks may also request documentation showing that the business operates legally. We can help you with these standard requirements when you become a client, but remember that specific documentation needed can vary based on the bank and the loan type. It's always best to check with the lending institution to ensure all required documents are provided. As always, I'm just a phone call away for a no-charge business consultation. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode 591, And It's About  Construction Business Continuity - From Labor To Legacy We often overlook the immense value that construction contractors bring to our communities. From building our homes and schools to developing infrastructure and commercial spaces, construction contractors like you play a vital role in shaping our world. Your contributions are undeniably essential, yet they often go unrecognized. This Labor Day weekend, it's time to shed light on your significant impact on our everyday lives.   Construction contractors are responsible for bringing our dreams and ideas into reality. Whether it's a new residential housing development, a highway expansion project, or the construction of a commercial building, you are the driving force behind these monumental undertakings. You possess the expertise, skills, and dedication necessary to transform architectural plans into tangible structures serving our communities.   Furthermore, construction contractors are instrumental in maintaining and improving existing infrastructure. From repairing roads and bridges to renovating aging buildings, your work ensures the safety and functionality of the spaces we rely on daily. Without your commitment to upkeep and innovation, our infrastructure would deteriorate, posing risks to public safety and hindering economic growth. Your projects generate employment opportunities for skilled laborers, engineers, architects, and other professionals. Furthermore, the construction industry stimulates economic activity by purchasing materials, equipment, and services, fostering local and national economic development. We recognize and appreciate your dedication and hard work. Your unwavering commitment to quality, safety, and efficiency directly impacts our daily experiences. Whether building a new neighborhood park or renovating a historic landmark, your work enhances the quality of life for individuals and communities. Successful contractors improve processes all year long. Your construction company can benefit from an excellent system that other successful contractors use now, so there is no need to "Reinvent The Wheel." As your construction company grows and evolves, your processes can support the controlled and planned expansion. Along with trying to keep up with your construction business, the unfortunate reality is that most business owners need to take proper holidays. This is usually because their business relies on them, and they need the support to keep the business running without them. As a construction business owner, have you ever considered what would happen to the business if you had to take a six-month break because of a severe illness or injury? Would the business survive? How would the bills get paid? And while it might not be nice to think about if you were to die, are you sure your business partners would give your loved ones a fair deal? For these reasons, all business owners must have a detailed succession plan. A succession plan is like a will but for a business. However, there is often a more comprehensive range of scenarios and options. Succession planning, even when you're a sole proprietor, is critical to ensuring the continuity and legacy of your construction business. It involves identifying and developing new leaders who can take over critical roles within the company when current leaders retire, resign, or are otherwise unable to continue. Like many others, the construction industry comprises family-owned businesses and long-standing companies with deep roots in their local communities. In such cases, succession planning is about ensuring the smooth transition of leadership and preserving the values, traditions, and reputation built over time. Consider the potential impact of sudden leadership changes on ongoing projects and client relationships. Clients, subcontractors, and other stakeholders often develop trust and familiarity with a construction company's leaders. A sudden change in leadership without a clear succession plan can lead to uncertainty and negatively impact these vital relationships. Here are some key steps to consider when planning for the succession of your construction business: 1. Identify Potential Successors: Consider who could take over the business in the event of your retirement, disability, or unexpected absence. This could be a family member, a key employee, or an external party with the skills and understanding of the business operations. 2. Prepare Your Business for Transition: Document and organize all aspects of your business, including financial records, client contracts, and operational procedures. This will help the successor understand and manage the business effectively. 3. Establish a Clear Transition Plan: Outline a detailed plan for the transition of ownership and management. This should include timelines, responsibilities, and potential training requirements for the successor. Communicate this plan openly with all relevant parties involved. 4. Seek Professional Advice: Consult with legal and financial advisors to ensure your succession plan complies with applicable laws and regulations. They can also help you structure the ownership transfer and minimize tax implications. 5. Consider Financial Implications: Determine the financial value of your business and explore options for transferring ownership, such as selling the company, gifting shares to family members, or structuring a buyout agreement with the successor. 6. Communicate with Stakeholders: Openly communicate your succession plan with family members, key employees, and other stakeholders who may be affected. Address any concerns and ensure everyone knows the business's future direction. 7. Develop a Contingency Plan: Prepare for unforeseen events by devising a contingency plan that outlines what would happen if you could not continue running the business. This could involve appointing a temporary manager or identifying an interim solution. 8. Review and Update Regularly: Review and update your succession plan regularly to account for changes in your business, personal circumstances, or relevant laws. Flexibility is essential in ensuring that the plan remains viable over time. Succession planning for your construction business as a sole proprietor may seem complex, but taking proactive steps to address it can provide peace of mind and stability for your business's future. In conclusion Construction contractors like you play an indispensable role in our lives by shaping our physical environment, bolstering our economy, and enhancing our well-being. Your contributions are woven into the fabric of our everyday experiences, and it's essential to acknowledge and celebrate your valuable impact. For the tireless efforts in constructing our world, we would like to help you extend, safeguard, and continue this legacy. By carefully considering the options and seeking professional advice, you can ensure a smooth transition when the time comes. Thank you for building a better world one project at a time. Contractors like you deserve to be wealthy because you bring value to our lives. Happy Labor Day Weekend! PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 590, And It's About  Silent Success - How Active Listening Can Speak Volumes In Construction Communication is crucial in the construction industry, and active listening plays a significant role in fostering successful communication. In the bustling environment of a contracting business, the ability to actively listen can make a substantial difference in understanding client needs, ensuring project requirements are met, and ultimately delivering top-quality results.   Active listening involves more than just hearing the words; it encompasses fully concentrating, understanding, responding, and remembering what is being said. For construction professionals, this skill can improve client relationships, make fewer errors, enhance teamwork, and ultimately increase project success.   Why active listening matters Active listening is crucial for construction business owners for several reasons: Internal Communication When you actively listen to their ideas and concerns, you foster an environment of trust and mutual respect. This enhances employee satisfaction and reduces turnover rates, making your team more engaged and productive. Conflict resolution: You can address and resolve conflicts more effectively by genuinely listening. Building trust: Employees who feel heard are likelier to trust their leaders and stay committed to the business. Improved morale: A culture of active listening can significantly boost team morale and engagement. Better decision-making: Understanding diverse perspectives enables more informed and balanced decisions. Increased collaboration: When everyone feels their voice matters, cooperation and teamwork improve. Listening to your team can unlock a wealth of innovative ideas. Those on the front lines often have unique insights into processes and customer needs that can drive your business forward. Encouraging an open dialogue can lead to creative solutions and new opportunities. External Communication Understanding Client Needs By listening attentively to clients' ideas, concerns, and expectations, contractors can gain valuable insights to deliver results that align precisely with the client's desires, instilling confidence in client interactions. Effective Requirements Gathering Active listening also plays a critical role in gathering project requirements. Whether it's a renovation, new construction, or infrastructure project, carefully listening to the client's specifications, preferences, and constraints is vital for ensuring the project is executed per the client's vision. Reducing Errors and Rework Miscommunication and misunderstanding can lead to costly errors and rework in construction projects. By actively listening to project requirements and clarifying any uncertainties, construction professionals can significantly reduce the likelihood of mistakes, ensuring the project progresses smoothly and according to plan. Imagine a client is frustrated because a product or service didn't meet their expectations. By actively listening to their concerns, you can resolve the issue and gain valuable insights into improving your services. This feedback loop is essential for continuous improvement and customer satisfaction. Improved Client Relations Actively listening to clients not only ensures project success but also strengthens client relationships. When clients feel heard and understood, it fosters trust and confidence in the construction team. This, in turn, can lead to repeat business, referrals, and positive word-of-mouth recommendations. How to master active listening Here are six practical steps to help you master the art of active listening in your construction business: 1. Note the unsaid Pay attention to non-verbal cues such as body language and tone of voice. These often reveal underlying emotions and concerns that words alone may not convey. For example, if an employee seems hesitant or anxious during a discussion, it might indicate they're uncomfortable or unsure about the topic. Similarly, if a client's body language suggests frustration or disappointment, it's a sign that they may not be delighted with the project's progress. 2. Seek to understand Approach conversations with an open mind. Ask clarifying questions and paraphrase what you've heard to ensure you understand correctly. For instance, if a team member expresses frustration with a project, ask them to elaborate on their challenges. 3. Decode Take the time to process and interpret the information. This is what we call 'decoding '. Avoid jumping to conclusions or making snap judgments. Slow down your thinking to avoid costly mistakes or misunderstandings. This might involve discussing the issue with other team members to gain different perspectives. 4. Act Show that you've heard and understood by taking appropriate action. This could be implementing a suggestion, addressing a concern, or simply acknowledging the person's feelings. For example, if an employee suggests a new workflow, try it and provide feedback on its effectiveness. 5. Close the loop Follow up to ensure the issue has been resolved or the suggestion has been implemented. This reinforces that you value their input and are committed to continuous improvement. For instance, if an employee has suggested a new project management tool, follow up after a week to see how it's working for them. Regular check-ins help maintain this ongoing dialogue. 6. Create a listening culture Foster an environment where everyone is encouraged to listen actively. Lead by example and practice listening actively to each other within your team. Reward those who demonstrate strong listening skills. In conclusion Active listening is a powerful tool that can positively impact every aspect of a construction business. By honing this skill, construction professionals like you can enhance client satisfaction, minimize errors, foster teamwork, and ultimately drive the success of your projects. Integrating active listening as a core practice can set your construction business apart in a competitive industry, leading to long-term success and growth. Excellent communication skills with strong attention to detail are not just soft skills but strategic advantages that can set your small business apart. Ready to transform your construction business with the power of active listening? Start today by incorporating these steps into your daily routines, and watch as your construction business thrives. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 589, And It's About  The Cash Flow Survival Guide For Your Construction Business Avoiding cash flow crises is crucial for the success and sustainability of your construction business. Managing cash flow is vital for small business owners. Poor cash flow management can create significant challenges even if your business is profitable. Cash is a fact; Profit is an opinion A cash crisis can be emotionally devastating and even kill your business. If you've ever had to beg, borrow, and steal to cover tomorrow's payroll, you know what I mean. Understanding cash flow Cash flow refers to the money moving in and out of your business. Cash inflows come from sales, interest earned, and investments. Cash outflows cover rent, payroll, bills, and supplier payments. Positive cash flow means your inflows exceed outflows, while negative cash flow indicates more money going out than coming in. Why cash flow matters You might ask, "Why is cash flow so important if my business is profitable?" The answer is simple: you need sufficient cash to pay your bills, invest in growth, or keep the lights on. Understanding and managing your cash flow is essential to maintaining the health and stability of your business. This guide will share practical tips to help you avoid a cash flow crisis and ensure your business remains financially healthy. 1. Manage your expenses Review your expenses regularly and look for ways to cut costs. Can you negotiate better terms with suppliers? Are there subscriptions or services you no longer need? You can identify savings opportunities and reduce outflows by closely monitoring your expenses. 2. Encourage repeat business Retaining existing customers is often cheaper and more effective than acquiring new ones. Offer loyalty programs, discounts, or incentives to encourage repeat business or word-of-mouth referrals. Happy customers are more likely to return and recommend your company to others. 3. Invoice quickly and set shorter payment terms The sooner you invoice, the sooner you'll get paid. Implement a system to send invoices immediately after delivering goods or services. Consider setting shorter payment terms (e.g., Net ten instead of the 20th month following, or Net 30 instead of Net 60) to improve cash flow. 4. Don't accept late payments Late payments can severely impact your cash flow. Consider offering discounts for early payments or imposing penalties for late payments. Clear communication about payment terms and consistent follow-ups can help ensure timely payments. 5. Manage your inventory Too much inventory ties up cash unnecessarily. Implement just-in-time inventory practices to order items only when needed. Review your inventory levels and turnover rates to ensure you're not overstocking slow-moving items. 6. Cash flow forecasting A cash flow forecast is a projection of your cash inflows and outflows over a specific period, usually 12 months. It helps you anticipate potential shortfalls and take corrective actions in advance. Regularly update your forecast to reflect changes in your business environment. 7. Build cash reserves Having a cash reserve can help you weather unexpected expenses or downturns. Aim to save enough to cover at least three months of operating expenses. This financial cushion can provide peace of mind and stability during uncertain times. 8. Improve operational efficiencies Look for ways to streamline your operations and reduce waste. Can you automate specific tasks? Are there more efficient methods or technologies you can adopt? Improved efficiencies can lead to cost savings and better cash flow management. 9. Explore multiple revenue streams Diversifying your revenue streams can help level out your cash flow. If one source of income dries up, having others can keep your business afloat. Consider adding complementary products or services or exploring new markets. 10. Negotiate with suppliers Can your suppliers offer better payment terms or discounts for bulk purchases? Building solid relationships with your suppliers can lead to better terms that improve your cash flow. Feel free to negotiate and ask for what you need. How can we help? 1. Accurate Financial Forecasting: We can create detailed financial projections and forecasts to anticipate future cash flow needs and identify potential gaps. This will allow you to address any impending cash flow issues proactively before they arise. 2. Efficient Invoicing and Payment Collection: We can implement a systematic invoicing process to promptly bill your clients for completed work. We can also assist you with offering incentives for early payments and diligently following up on overdue invoices to maintain a steady cash flow. 3. Vendor Management: We can help you negotiate favorable payment terms with your suppliers and subcontractors to align outgoing payments with incoming receivables. By managing your payables effectively, you can optimize your cash flow and minimize strain on your finances. 4. Strict Budgeting and Cost Control: We can monitor your expenses closely and maintain a disciplined budgeting approach. We can identify areas where costs can be reduced without compromising quality or safety standards to improve your cash position. 5. Line of Credit or Emergency Fund: We can establish or maintain an emergency fund to cushion during lean periods or unexpected expenses. Access to additional funds can help bridge temporary cash flow gaps and prevent disruptions to your operations. Please note: We do not touch your money. We can only assist you in managing your finances. 6. Streamline Operations: We can identify inefficiencies in your business processes and streamline operations to optimize productivity and reduce operational costs. This can free up working capital and improve your overall cash flow position. By proactively managing your cash flow and implementing these strategies, you can protect your construction business from potential financial crises and maintain a healthy financial position for long-term success. Final thoughts Effective cash flow management is critical for the success of your small business. These practical tips can avoid a cash flow crisis and ensure your construction business remains financially healthy. Remember, proactive planning can go a long way in securing your business's future. If you need advice or further assistance, please get in touch with our team.  PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 588, And It's About  Financial Statements Demystified: A Practical Guide For Contractors Understanding financial statements might sound daunting, but small business owners like you must stay on top of your game. Each financial report offers unique insights into your company's economic status.    As a construction contractor, your financial statements provide valuable insights into your company's financial health and are essential for making informed decisions. Let's look at the critical components of financial statements and why they matter to construction contractors.   1. Balance sheet The balance sheet is a snapshot of your company's financial position at a specific time. It includes your assets, liabilities, and equity. For construction contractors, the balance sheet reflects the value of equipment, property, other assets, any outstanding debts, and your company's net worth. Monitoring your balance sheet helps you track your company's financial stability and wealth. Assessing net worth: By understanding your assets and liabilities, you can easily calculate your company's net worth. Financial stability: The balance sheet helps you gauge whether your business is financially stable or if it's relying too much on borrowed funds.  Practical tip: Regularly review your balance sheet to make informed decisions about investing and financing to foster growth. If you notice a high level of liabilities compared to assets, consider strategies to reduce debt. 2. Income statement The income statement, also known as the profit and loss statement, provides an overview of your company's revenues, expenses, and profits over a specific period. As a contractor, your income statement reflects your revenue from completed projects and your operational costs, such as materials, labor, and overhead (LMOS). Analyzing your income statement helps you assess the profitability of your projects and identify areas where you can improve efficiency. Operational efficiency: By reviewing your income statement, you can identify how efficiently your business operates. Profitability: It shows your ability to generate profit by increasing revenue or reducing costs. Practical tip: Keep an eye on revenue and expense trends. If operating expenses are consistently rising, it may be time to reevaluate your cost management strategies. 3. Cash flow statement The cash flow statement details how cash enters and leaves your business. It is divided into three sections—operating, investing, and financing activities—showing how well your company manages its money. Due to the industry's cyclical nature, managing cash flow is especially critical for construction contractors. Your cash flow statement helps you monitor the timing of your receivables and payables, ensuring sufficient liquidity to cover ongoing expenses and take on new projects. Liquidity: It helps you understand your company's ability to meet short-term obligations. Expense management: By tracking cash flows, you can make more informed decisions about spending and saving. Practical tip: Pay close attention to operations cash flow. If you consistently see negative cash flow, it's a sign that you need to improve your operational efficiency or adjust pricing strategies. 4. Statement of changes in equity This lesser-known but important report details the changes in the equity section of your balance sheet over a specific period. It includes contributions from shareholders and retained earnings. Why it matters Investment decisions: Helps investors understand how their investments are performing. Retention strategy: Shows how profits are being reinvested into the business. Practical tip: Use this statement to communicate with potential investors. Highlight how you reinvest profits to fuel growth, showcasing your commitment to long-term success. 5. Financial ratios Financial ratios are derived from your financial statements and provide deeper insights into your company's performance. Key ratios include profitability, liquidity, efficiency, and solvency ratios. Quick insights: Ratios offer a quick snapshot of your business health. Benchmarking: Compare your ratios with industry standards to see how your business stacks up. Practical tip: Calculate the current ratio (current assets divided by current liabilities) to assess your short-term financial health. A ratio above 1 indicates good liquidity. 6. Notes to the financial statements These notes provide additional context, explaining the methods used in preparing the financial statements and offering detailed breakdowns of certain items. Transparency: Enhances the transparency of your financial reporting. Clarity: Helps stakeholders understand the numbers better, leading to more informed decisions. Practical tip: Ensure the notes are detailed and precise. Transparency builds trust with investors and other stakeholders, making them more likely to support your business. Why Financial Statements Matter Understanding how to read financial statements as a construction contractor can provide several key advantages: Firstly, it allows you to assess the economic health of your construction business. Understanding your company's financial position enables you to make informed decisions about investments, expansion, and resource allocation. Secondly, financial statements provide valuable insights for stakeholders, such as investors, lenders, and sureties. Maintaining accurate and transparent financial statements can enhance credibility and facilitate access to capital for future projects and growth opportunities. Lastly, understanding your financial statements can help you identify areas for improvement and implement strategies to enhance profitability and operational efficiency. Whether reducing costs, optimizing cash flow, or diversifying your service offerings, your financial statements guide strategic planning and performance evaluation. Remember that it can also aid in compliance and tax planning. Being aware of your financial position can help ensure that you are meeting regulatory requirements and assist you in making tax-efficient decisions. In Conclusion Reading and understanding financial statements is a valuable skill for construction contractors. It provides a clear picture of your business's economic standing and enables informed decision-making. Each report offers valuable information, whether evaluating your net worth through the balance sheet, assessing profitability via the income statement, or managing liquidity with the cash flow statement. Ready to take control of your financial health? If you need advice or assistance, contact our team. We're here to help. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode 587, And It's About  Fortifying Financials And The Importance Of Solid Security Measures Handling multiple projects simultaneously is a common challenge for small construction companies. While it can signify growth and success, it comes with its fair share of struggles. From resource allocation to maintaining quality and meeting deadlines, juggling several projects can be overwhelming. However, with the right strategies, it's possible to navigate these challenges successfully.   Staying organized is crucial. With numerous tasks, deadlines, and client expectations, implementing efficient organizational strategies is critical to success. Create a centralized system for storing project-related information such as contracts, plans, permits, and client communication. Utilize project management software or cloud-based storage solutions to ensure easy access and seamless collaboration with your team.   Here are more detailed tips for staying organized when managing multiple projects: 1. Prioritize and Plan It is crucial to prioritize projects based on their deadlines, importance, and resource requirements. Creating a detailed project plan for each undertaking, including task schedules, resource allocation, and deadlines, can help maintain clarity and focus. Before starting any project, develop detailed plans outlining the scope of work, timelines, and budget. Clearly define project milestones, tasks, and responsibilities to keep everyone aligned and on track. 2. Efficient Resource Management Resource allocation, including labor, materials, and equipment, is essential. Understanding each project's specific needs and ensuring that resources are distributed effectively can prevent bottlenecks and delays. Implement a project management tool to track tasks, deadlines, and progress across multiple projects. Tools like Trello or as simple as a whiteboard can help you stay organized and ensure that nothing falls through the cracks. Avoid overcommitting and assess resource availability before taking on new projects to ensure you can deliver on time and within budget. 3. Streamline Processes Prioritize tasks based on project deadlines, client demands, and resource availability. Develop a comprehensive schedule that allocates time for each project, considering factors such as material procurement, subcontractor availability, and potential delays. Standardizing processes and using technology to streamline project management tasks can increase efficiency. Again, project management software and tools can help track progress, manage documents, and coordinate teams across different sites. 4. Communicate Effectively Maintain open communication with clients, subcontractors, and your internal team. Regular updates and progress reports can help everyone stay informed and aligned, reducing the risk of misunderstandings or miscommunication. Effective communication is paramount when managing multiple projects. Regular updates, team meetings, and clear communication channels ensure everyone is aligned and aware of their responsibilities across different projects. 5. Review and Adapt Review your organizational processes regularly and adapt based on project feedback and lessons learned. Continuous improvement is essential for refining your approach and maximizing efficiency. Being agile and adaptable to changes is essential when managing several projects concurrently. Anticipating potential issues and having contingency plans can help you navigate unforeseen obstacles without significant disruptions. Maintaining consistent quality across all projects is non-negotiable. Implementing robust quality control processes and regular site inspections can help uphold the company's reputation and ensure client satisfaction. By implementing these organizational strategies, you can effectively manage and deliver multiple construction projects while maintaining high quality and client satisfaction standards. But remember yourself and your crew. Managing multiple projects can strain the workforce. Prioritizing employee well-being, managing workloads, and providing adequate support can prevent burnout and maintain productivity. What about the paperwork? Contractors call us to ask about managing bookkeeping and accounting for multiple projects. Though it may seem overwhelming, it can be straightforward with the right approach: Here are some valuable tips to help contractors effectively handle the financial aspects of their projects. 1. Utilize Project-Based Accounting Software Investing in project-based accounting software can significantly simplify managing multiple projects. These tools allow contractors to track expenses, income, and project-specific details in one centralized system, providing a comprehensive overview of each project's financial status. 2. Establish Clear Project Budgets By outlining each project's expected costs and revenue, contractors can better control their finances and make informed decisions throughout the project lifecycle. 3. Track Expenses Accurately It's essential to meticulously track all project-related expenses, including material costs, labor expenses, equipment rentals, and subcontractor fees. By maintaining accurate records of expenditures, contractors can monitor project profitability and identify areas for cost optimization. 4. Separate Business and Project Finances Contractors should maintain separate bank accounts and financial records for each project to avoid commingling funds. This separation simplifies financial reporting, ensures transparency, and minimizes the risk of errors or discrepancies in accounting records. 5. Implement Time Tracking Systems Tracking billable hours and labor costs for each project is crucial for accurate invoicing and financial analysis. Implementing time-tracking systems allows contractors to monitor labor expenses, allocate costs to specific projects, and assess the profitability of each endeavor. 6. Regularly Reconcile Accounts Regularly reconciling bank and credit card accounts is essential for identifying discrepancies, detecting errors, and maintaining financial accuracy. Timely reconciliation provides contractors with a clear understanding of their cash flow and helps prevent financial mismanagement. 7. Seek Professional Guidance Contractors should consider consulting with a professional accountant or financial advisor for complex accounting tasks and tax implications associated with multiple projects. Expert guidance can ensure compliance with tax regulations, optimize financial processes, and provide valuable insights for business growth. Unfortunately, many small construction business owners seek to keep costs low by doing everything themselves, unwittingly sabotaging their company's financial stability. If numbers aren't your strength and you would instead focus on building your business, it's time to hire a bookkeeper. Ensure you choose a bookkeeper with experience in your industry. The nuances of bookkeeping vary from one corner of the market to another. When assessing candidates, it's essential to consider the total number of years of experience and the relevance of that experience.  We can provide you with expertise, guidance, and savings. We are experts at managing, sorting, and recording your construction business's financial transactions, whether you're working on a single project at a time or multiple job sites. We've spent time developing our skills and experience. During this time, we've also seen and resolved bookkeeping-related issues that you may encounter. Our expertise makes us efficient at managing those issues.  We can assist you with budgeting and sticking to your budget, help you develop a realistic financial plan that enables your business to grow while achieving short-term and long-term goals and save you from costly mistakes that could affect your finances. In summary While managing multiple construction projects presents challenges, adopting a strategic and organized approach can turn these challenges into opportunities for growth and success. Small construction companies can overcome the struggles of handling multiple projects concurrently by prioritizing planning, effective communication, efficient resource management, and a strong focus on quality. A well-organized financial approach facilitates project success and lays the groundwork for sustainable business growth. Bookkeeping is essential to running a successful business, whether you do it yourself or hire someone. Contact us today to learn more about how we can help you.  PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 586, And It's About  Fortifying Financials And The Importance Of Solid Security Measures The recent cyber outage is a stark reminder of digital systems' vulnerability and potential impact on businesses, including those in the construction industry. This incident offers several critical lessons for construction bookkeeping.   As a contractor, your accounting and bookkeeping systems are vulnerable not only to cyber threats but also to software outages, which can compromise sensitive financial data and disrupt business operations.    In this blog post, we'll explore the implications of the recent cyber outage for construction accounting and bookkeeping and provide actionable tips to strengthen your defenses.   Implications for Construction Accounting and Bookkeeping: Data Breach Risks: Cyber attacks can lead to unauthorized access to financial data, including client information and project records. System Downtime: Cyber outages can cause accounting and bookkeeping systems to go offline, halting critical financial operations. Financial Losses: Cyber attacks can result in direct financial losses, damage to your reputation, and legal liabilities. Lessons Learned and Better Practices: 1. Data security is paramount The cyber outage underscores the critical importance of robust data security measures. Construction companies must prioritize the security of their financial data, including sensitive client information, to prevent unauthorized access and mitigate the risk of data breaches. 2. Backup and recovery plans Construction firms should review and enhance their data backup and recovery plans. Regular, automated backups of financial records and bookkeeping data can help ensure that critical information is not lost during a cyber incident. 3. Vigilance in Vendor Management Construction companies rely on external vendors and software providers for bookkeeping tools and platforms. To minimize the risk of potential disruptions due to cyber incidents, construction firms must assess their vendors' security protocols and resilience. 4. Employee training and awareness Educating employees about cybersecurity best practices and potential threats is imperative. Construction businesses should invest in training programs to enhance employee awareness and establish protocols for identifying and responding to potential cyber threats. 5. Contingency planning Comprehensive contingency plans for potential cyber outages are essential. Construction companies should establish clear protocols for maintaining critical financial operations during a disruption, ensuring minimal impact on day-to-day business activities. A quick recap of actionable steps: Implement robust cybersecurity measures, including firewalls, antivirus software, and intrusion detection systems. Conduct regular software updates and backups to ensure business continuity. Train staff on cybersecurity awareness and best practices. Use secure communication channels for sensitive financial data. Consider outsourcing accounting and bookkeeping to reputable, cyber-secure providers. FEA Cybersecurity As an accounting firm, our client's privacy and security remain our top priorities. We continually look at ways to develop and evaluate our system to prevent breaches and network holes. We utilize Secure Socket Layer encryption, which ensures that all data passed between the web server and browsers remains private and integral. There are two levels of restrictions, and a password must be entered before you can access your data file. At Fast Easy Accounting, Cloud Security is not an option—it is a fundamental requirement. We only use Intuit-approved commercial Hosting Services. We have taken steps to select the best to ensure that your data is as secure as that found for online banking and financial institutions. Their Cloud Security rests on U.S.-based servers, backups, data centers, and technical support. Not one aspect of our Cloud security relies on outsourced services or offshore locations. Don't assume your construction business is safe from hackers because you run a small business or don't collect payment information. There is a lot of private information available that hackers and thieves can use to make money, and companies large and small are targets. Be aware of vulnerabilities in your system and take steps to address them before it's too late.  Online data protection is critical in providing contractors with reliable and professional-grade bookkeeping services. The cost of proper bookkeeping combined with secured cyber information is priceless. Clean, up-to-date bookkeeping records, accurate financial reports, and protected data make up for a good night's sleep. After all, security comes from setting up Structures and Systems in place so your construction company will run smoothly. Conclusion: The recent cyber outage serves as a wake-up call for construction contractors to prioritize cybersecurity in their accounting and bookkeeping practices. By implementing robust defenses and best practices, you can protect your business from cyber threats and ensure the integrity of your financial operations. Stay vigilant and build a more solid security for your construction business. By addressing these key lessons, construction companies can better safeguard their financial data and minimize the impact of potential cyber incidents on their operations. As a reminder: Speaking of technology, have you made the switch yet? QuickBooks plans to stop selling several versions to new U.S. subscribers. The deadline to purchase new subscriptions to the listed products has been extended from July 31, 2024, to Sept. 30, 2024. QuickBooks Desktop Pro Plus QuickBooks Desktop Premier Plus QuickBooks Desktop Mac Plus QuickBooks Desktop Enhanced Payroll We do our best to inform you of your options based on your construction company's needs and ensure you are alerted to fundamental software changes that may affect your construction business now or in the future. Although extended, we recommend checking and upgrading immediately to avoid service disruptions and workflow interruptions. Please plan accordingly or reach out if you need help. We are here to help you achieve your definition of success, whether you would like to outsource your bookkeeping to us, buy and use our templates, or learn to do it independently. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 585, And It's About  Don't Let The Numbers Lie: Detecting And Preventing Bookkeeping Fraud

This Podcast Is Episode 584, And It's About  Discovering The Importance Of A Solid Business Plan For Your Contracting Company Starting a construction business without a plan is like setting sail without a compass. While you might eventually reach your destination, the journey will likely be longer and more challenging. A well-constructed business plan is essential for guiding your business toward success.   Here's why   It Clarifies Your Vision   A business plan helps you articulate the vision for your enterprise. It forces you to think through every aspect of your business, including what you want to achieve and how you plan to get there. This clarity is crucial for communicating your vision to potential investors, partners, and employees.   It Defines Your Goals And Objectives   One of the primary purposes of a business plan is to set clear, measurable goals. Whether you aim to acquire a certain number of clients, reach a specific revenue target, or open new locations, having defined goals ensures you know exactly what success looks like for your business.   It Helps You Understand The Market   A solid business plan includes thorough market research. Understanding your target market, competitors, and industry trends is vital for positioning your construction business effectively. This research helps you identify opportunities and threats, allowing you to make informed decisions.   It Guides Your Strategy   With your goals in place, a business plan outlines the strategies you will use to achieve them. This includes marketing plans, sales tactics, operational procedures, and financial strategy. Having these strategies documented ensures that everyone involved knows the steps needed to move forward.   It Allocates Resources Effectively   A well-thought-out business plan helps you determine how to allocate your resources—time, money, and personnel—most efficiently. By identifying priorities, you can ensure that your resources are focused on activities that drive your business toward its goals.   It Monitors Progress And Facilitates Adjustments   A business plan is not a static document; it should evolve as your business grows. Regularly reviewing your plan allows you to track progress against your goals and make necessary adjustments. This ongoing analysis helps you stay adaptable and responsive to market or business environment changes.   It Attracts Investors And Secures Funding   If you need external funding, a business plan is indispensable. Investors and lenders want to see that you have a clear vision, defined goals, and a feasible strategy for achieving them. A comprehensive business plan demonstrates your commitment and capability, making securing the financial resources you need easier.   It Reduces Risks   A business plan helps mitigate risks by forcing you to think through potential challenges and develop contingency plans. This proactive approach lets you anticipate obstacles and devise solutions before they become critical.   Creating a small business plan as a construction contractor, whether you have employees or a one-person company, is crucial for charting a path to success. A well-thought-out plan helps you set goals, identify your target market, and establish the direction for your business.    Here's a guide on creating one:   1. Let's Get Started with an Executive Summary: Kick off your plan with a quick peek into your company, its mission, and the services you offer. Share a brief overview of your target market and a summary of your financial projections.   2. Company Description - Tell Your Story: In this section, share a detailed and friendly description of your small construction business. Share your company's story, the nature of your construction services, and what makes your business unique. Also, describe your target market and discuss the specific construction needs you aim to fulfill.   3. Market Analysis - Understanding Your Playground: Determine the construction industry in your target area. Here, you can identify market trends, assess the demand for construction services, and analyze your competitors. Understanding the market dynamics will help you position your business effectively and identify growth opportunities.   4. Organization and Management - Who's Who in Your Team: In this section, outline the friendly organizational structure of your small construction business. Define key team members' roles and responsibilities and discuss your expertise and experience in the construction industry. On your own? Highlight any strategic partnerships or key contractors you plan to collaborate with or professionals you outsourced to help with administrative work and financials.    5. Services and Products - Showcasing Your Specialties: Let's detail the range of construction services and products your business offers in a friendly tone. Give importance to any unique or specialized services that set your business apart. It's essential to show your services' value to clients and how they address specific construction needs.   6. Marketing and Sales Strategy - Spreading the Word: Develop a friendly marketing and sales strategy to reach potential clients and promote your construction services. Identify your target audience, outline promotional tactics, and define your pricing strategy. Additionally, describe the sales channels and distribution methods you will use to reach your clients.   7. Financial Projections - Let's Predict the Future: Include detailed financial projections for your small construction business. This should encompass your income statement, cash flow projections, and balance sheet. Outline your funding requirements and how you plan to finance your business.   8. Risk Analysis - Preparing for the Unexpected: Evaluate potential risks and challenges your small construction business may face. Identify strategies to overcome these risks and show your readiness to tackle the obstacles in the construction industry.   9. Implementation Plan - Let's Get It Done: Set measurable milestones and key performance indicators to track your progress. Additionally, detail your operational plan, including necessary resources, equipment, and technology.   10. Appendices - Supporting Cast: Include any additional information, such as resumes of key team members, legal documents, or supporting research that strengthens your business plan.   In summary   A business plan is a crucial tool for any entrepreneur. It provides a clear vision, sets measurable goals, guides strategy, allocates resources, monitors progress, attracts funding, and reduces risks.   By carefully considering each aspect of your business and creating a clear roadmap for success, you can position your construction company for long-term growth and success. Remember that a well-crafted business plan not only serves as a guide for your business but it communicates your vision and professionalism to potential clients and stakeholders.    We are here to assist you in creating a plan that sets your business up for profit and growth. Contact us today to learn how we can support your contracting journey. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 583, And It's About  Building On Solid Ground: Your Construction Bookkeeping Foundation As a construction business owner, you must stay informed about your finances and financial situation. You do this through bookkeeping, the process of recording transactions in your business. This includes transactions, credit card charges, and any other economic activity within your company.   Financial management can easily be overlooked when managing projects, dealing with subcontractors, and ensuring customer satisfaction. However, neglecting proper bookkeeping can significantly impact the growth and success of your construction business. When your construction bookkeeping is set up right It gives you insights into your income and expenses, such as: How much money you've made How much money needs to be paid for bills or salaries  How much money should be put away for taxes or other unexpected costs  Bookkeeping also helps keep track of all your business transactions. A good system will serve as an audit trail showing every transaction that has taken place within your company. This includes purchases from suppliers, sales made to customers, and bills paid out by suppliers or employees (like salaries).  This information will quickly become apparent if there are any irregularities, such as missing items on purchase orders. You get transparency into your business, a way to ensure you remain compliant with laws, and valuable insights to help you make smarter decisions.  While factors such as market trends, technological advancements, and customer demands undoubtedly play a significant role in shaping your business, financial insights are an often underestimated aspect that can substantially impact growth. Understanding the intricacies of your company's financial data and leveraging this insight effectively can be a powerful tool for driving growth in your construction business. When to hire a construction bookkeeper There are many scenarios where hiring a bookkeeper makes sense. These depend on your construction business setup and your abilities.  You should consider hiring a bookkeeper if you have More than one employee Multiple business locations A complex business structure - yes, like a contracting business Concerns about making errors in your books that could lead to fines or penalties Too much work to do, and bookkeeping constantly gets pushed to the side A lack of experience with bookkeeping and still determining how to go about it, so you avoid it. What a Construction Bookkeeper can provide for you 1. Expertise Construction bookkeepers are experts at managing, sorting, and recording your business's financial transactions. They've spent time developing their skills and experience. During that time, they've also seen and resolved bookkeeping-related issues that you may come up against. Their expertise makes them more efficient at managing those issues.  Beyond that, they understand business trends and challenges others in your industry face and can help you move through those. They also know what questions to ask to help you make important decisions and can share best practices with you.  2. Guidance Your bookkeeper not only helps you maintain accurate records but also understands your financial circumstances. They help you assess how to make critical business decisions, such as whether now is an excellent time to grow or when you should hold back. They can also identify trends in your industry and help you take advantage of those opportunities. Finally, they can assist you with budgeting and sticking to your budget. They'll help you develop a realistic financial plan that enables your business to grow while achieving short- and long-term goals.    3. Time savings As a business owner, you likely have many activities to focus on. In bookkeeping alone, there are numerous tasks to be responsible for, such as: Collecting and recording transaction data Sorting receipts Classifying expenses Invoicing customers Paying vendors Managing payroll Bookkeepers take on those tasks, so you don't have to. It's not just about the energy you put into them; it's about the fact that unless you're a construction bookkeeping expert, it'll likely take you longer to complete these activities than a bookkeeper. That can add up to a lot of extra hours.  Hiring a Construction Bookkeeper frees up valuable time for other activities such as marketing, perfecting your products and services, or spending time with family.  4. Money savings There's a time cost to doing your books, but there's also a potential money cost in the form of missed opportunities. The time you spend doing your books is time you could be out creating or taking advantage of new opportunities for your business. Your bookkeeper frees you up, giving you the time and energy to identify potential opportunities. They can also advise whether you're in an excellent financial position to jump on those possibilities.  Additionally, the expertise bookkeepers bring to their activities means they're likely to prevent costly mistakes that could affect your finances.  Final thoughts Prioritizing better bookkeeping practices is fundamental to driving growth and sustainability in your construction business. By proactively managing your company's finances, you can gain a competitive edge, mitigate risks, and position your business for long-term success in the dynamic construction industry. Remember, the success of your construction business depends not only on the quality of your work but also on the strength of your financial foundation. Embracing better bookkeeping practices can pave the way for sustained growth and profitability in your construction enterprise. As a reminder: QuickBooks plans to stop selling several versions to new U.S. subscribers. The deadline to purchase new subscriptions to the listed products has been extended from July 31, 2024, to Sept. 30, 2024. QuickBooks Desktop Pro Plus QuickBooks Desktop Premier Plus QuickBooks Desktop Mac Plus QuickBooks Desktop Enhanced Payroll We do our best to inform you of your options based on your construction company's needs and ensure you are alerted to fundamental software changes that may affect your construction business now or in the future. Although extended, we recommend checking and upgrading immediately to avoid service disruptions and workflow interruptions. Please plan accordingly or reach out if you need help. We are here to help you achieve your definition of success, whether you would like to outsource your bookkeeping to us, buy and use our templates, or learn to do it independently. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 582, And It's About  Dealing With Toxic Construction Employees In The Job Site Running a small construction business comes with unique challenges, and dealing with toxic employees is undoubtedly one of the trickiest. A single troublesome team member can disrupt productivity, affect team morale, and ultimately harm your business's success.    These individuals can create a hostile work environment, lower morale, and reduce productivity. For the construction industry, where teamwork and safety are paramount, addressing and managing toxic employees is crucial. Knowing how to handle such situations effectively can turn things around.   Let's look at the types of toxic actions, how to address them, and provide practical steps to manage these challenging situations. Read on to transform your workplace or job site into a harmonious and productive environment.   To effectively deal with toxic employees, it's essential first to identify poisonous behavior. This can include constant negativity, gossiping, bullying, or undermining colleagues. In the construction industry, toxic behavior can manifest as disregarding safety protocols, cutting corners, or fostering a culture of non-compliance.   Understanding troublesome conduct   Intentional vs. unintentional   Before you can tackle the issue, it's essential to understand whether the problematic actions are intentional or a result of the other problems. Intentional bad conduct often stems from personal grievances or a desire to undermine authority. On the other hand, unintentional actions might be due to personal struggles, misunderstandings, or lack of awareness.   Understanding the root cause is crucial because it determines your response strategy. For example, intentional troublemaking might require firmer actions than unintentional issues, which might be resolved with support and guidance.   Early recognition   Early recognition of problematic conduct can prevent it from escalating. Look for signs such as frequent conflicts with colleagues, consistent underperformance, or a noticeable dip in team morale. Address these issues promptly to avoid long-term repercussions.   Impact on team dynamics   Toxic conduct doesn't just affect the individual involved; it can spread like wildfire, impacting the broader team. It can lead to increased stress, reduced collaboration, and higher turnover rates. Understanding the wider impact highlights the importance of addressing the issue head-on.   Tackling the problem head-on   Direct approach   Avoiding the problem is never a good strategy. Instead, address the issue directly with the troublesome team member. Start by scheduling a private meeting to discuss specific concerns. Be clear about the actions that need to change and provide concrete examples.   Clear communication   Addressing toxic behavior often starts with open communication. Construction managers and supervisors must create a work culture where employees feel safe to voice their concerns. Encouraging open communication can help identify toxic behavior early on and prevent it from escalating.   Open dialogue   Engage in an open dialogue where the employee can share their perspective. Understanding their viewpoint can offer insights into potential solutions. Ensure the conversation remains respectful and focused on finding a resolution.   Consistent follow-through   Consistency is key when managing toxic workplace conduct. After the initial discussion, follow up regularly to monitor progress. This shows the employee that you're serious about making positive changes and are there to support them through the process.   Detailing specific actions   Communicate the issues clearly by detailing specific actions that are problematic. Vague feedback can lead to misunderstandings and may result in something other than the desired changes. Be precise about what needs to improve and why.   Impact on the team and business as a whole   Explain the impact of their conduct on the team and the business as a whole. Sometimes, employees are unaware of how their actions affect others. Highlighting the broader consequences can motivate them to change.   Setting expectations   Set clear expectations for conduct moving forward. This includes outlining the company's values, code of conduct, and expectations for teamwork and collaboration. By clearly defining unacceptable behavior, employees are less likely to engage in toxic conduct. Outline the standards you expect and the timeline for improvement. This gives the employee a clear roadmap to follow.   Providing support   Sometimes, toxic behavior can stem from underlying issues such as stress, burnout, or lack of training. Providing support for employees who may be struggling and offering training programs to develop their interpersonal and communication skills can help in addressing toxic behavior.   Resources and training   Ensure that the employee has the necessary resources and support to improve. This could include training sessions, mentoring programs, or adjustments to their workload. Providing these tools shows your commitment to their development.   Mentoring and coaching   Pair the employee with a mentor or coach who can offer guidance and support. This relationship can provide valuable insights and help employees develop new skills and attitudes.   Adjusting workload   Sometimes, problematic conduct stems from being overwhelmed. Assess the employee's workload and make necessary adjustments to ensure they can perform at their best without undue stress. Documenting everything   Keeping detailed records   Maintain detailed records of all interactions and steps taken to address the issue. Documentation is crucial if further action is needed and provides a clear history of your efforts to resolve the situation.   Importance of transparency   Be transparent with the employee about the documentation process. This will help build trust and ensure they understand the seriousness of the situation.   Preparing for future actions   Detailed records can be invaluable if the conduct doesn't improve and more serious actions are required. They provide a clear trail of your efforts and the employee's responses. Being prepared for tough decisions when enough is enough!   Despite your best efforts, some employees may not improve. Acknowledging when enough is enough to protect your team's well-being and your business's success is essential.   Making difficult choices   When toxic behavior persists despite efforts to address it, decisive action may be necessary. This can include implementing disciplinary measures, reassigning responsibilities, or, in severe cases, terminating employment. Handling these situations with professionalism, empathy, and adherence to company policies and labor laws is essential.   Be prepared to make difficult decisions; while potential termination is never an easy choice, sometimes it's necessary for the greater good of the business.   Protecting team well-being   Your primary responsibility is to ensure a healthy and productive work environment for all employees. Protecting the team's well-being should always be a top priority.   In summary   Dealing with toxic employees is a challenging but essential aspect of managing a small business. You can transform your workplace into a harmonious and productive environment by understanding the types of troublesome conduct, tackling issues head-on, communicating clearly, providing support, documenting everything, and being prepared for tough decisions.   Remember, the key to success lies in consistent follow-through and a commitment to fostering a positive workplace culture. Recognizing and rewarding positive contributions, fostering a sense of teamwork and camaraderie, and leading by example can all contribute to creating a healthy work environment where toxic behavior is less likely to thrive.   If you need more advice or support, reach out—we're here to advocate for you. Whether you need help with construction bookkeeping or want a listening ear, I am just a phone call or email away. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 581, And It's About  The Importance Of Having A Contingency Plan For Construction Contractors In the construction industry, unexpected challenges can arise at any moment. Numerous factors, from material delays to unforeseen weather conditions, can disrupt project timelines and budgets.    From terrorism to fire, from extreme weather or earthquakes to cyber-attacks – how would your business cope if it was affected? Would your staff know what to do? Would you be able to keep working?   That's why a contingency plan is crucial for construction contractors. It is not just a precaution but a necessity. Small construction businesses need to be prepared for a range of scenarios. Your company could avoid significant setbacks or closure with a solid contingency plan.   Why contingency planning is crucial Contingency planning involves foreseeing potential risks and developing a strategic approach to mitigate their impact. For small business owners, this means safeguarding their assets, ensuring business continuity, and protecting their staff and customers. A well-thought-out plan can differentiate between a temporary disruption and a permanent shutdown. It helps contractors mitigate risks and minimize the impact of unexpected events on their projects. Here are a few reasons why having a contingency plan is essential for construction contractors: 1. Risk Management: A contingency plan enables contractors to identify potential risks and develop strategies to address them. By proactively planning for various scenarios, contractors can better protect their projects from cost overruns and delays. 2. Budget Protection: Unforeseen events can quickly eat into a project's budget. A contingency plan allows contractors to set aside funds specifically for addressing unexpected expenses, ensuring that the project stays on track financially. 3. Schedule Flexibility: Delays are not uncommon in the construction industry. A contingency plan allows contractors to adapt to unexpected schedule changes without derailing the project timeline. 4. Client Confidence: Clients appreciate contractors prepared for the unexpected. Demonstrating that you have a contingency plan can instill confidence in your clients and reassure them that you can manage unforeseen challenges. 5. Competitive Advantage: Navigating unexpected obstacles efficiently sets contractors apart in a competitive industry. A well-executed contingency plan can demonstrate a contractor's professionalism and commitment to delivering results, giving them a competitive edge in the market. Emerging issues and regulation changes Ever-evolving regulations demand greater transparency and accountability from small businesses. This is particularly relevant in preventing and addressing financial fraud, which remains a substantial risk. The increased scrutiny from regulatory bodies means companies must have robust monitoring systems and response strategies. Failure to comply not only puts your financial standing in jeopardy but also your business's reputation. Practical steps to develop your contingency plan Risk assessment: Identify all potential risks that could impact your business. This includes everything from natural disasters and cyber-attacks to key personnel suddenly becoming unavailable. Rank these risks based on their likelihood and potential impact. Document everything: Put together an operational guide for your business, outlining everything you would need to know to keep it running, such as who your suppliers are, how and when they are paid, and everything else that happens on a daily/weekly/monthly basis. As part of the same process, outline the roles and responsibilities of every senior staff member and scope out the daily and weekly tasks so a replacement could easily assume those responsibilities. Communication plan: Develop a communication plan to keep employees informed during and after a crisis. Consider using multiple channels such as email, phone calls, and social media to reach out to employees and customers. Develop response strategies: For each identified risk, develop a response strategy. This could involve establishing a crisis management team, setting up temporary operational sites, or creating data backup protocols. Ensure these strategies are detailed and cover all critical aspects of your business operations. Regular review and testing: A contingency plan is only effective if it's current and functional. Review and update your plan regularly, especially after significant changes in your business environment. Conduct drills and simulations to test your team's readiness and the effectiveness of your response strategies. Your contingency plan should be a living document that evolves with your business. Construction Client's Story (edited for brevity): On Sunday, July 27, 2008, around 6:30 p.m., my girlfriend and I had just returned from an overnight hiking trip. When we arrived home, we discovered that we had been robbed. We immediately called 911. As we walked through the house, we discovered that our computer and many other valuables were gone. The computer had all the company business on it. QuickBooks, invoices, all the subcontractors' info, and everything to keep the company books. We were at a loss for what to do. But as luck would have it, we had Randal DeHart as our accountant. He had all our info on a backup system somewhere on a huge server. So we called Randal to let him know that we would get a new computer as soon as the insurance company paid us. Randal called us the next day, July 28, 2008, and told us to come to his office. To our surprise, he had gone to Office Depot, purchased a new computer, loaded it with QuickBooks, and restored all our business information. We are so appreciative that Randal had our backs. We had told him that we would pay him for the computer as soon as possible, but you know what he said, No thanks are necessary; if we just pay forward, that's all he asked." How's that for a Good Accountant? Also, as a reminder that could be helpful in your planning: QuickBooks plans to stop selling several versions to new U.S. subscribers. The deadline to purchase new subscriptions to the listed products has been extended from July 31, 2024, to Sept. 30, 2024. QuickBooks Desktop Pro Plus QuickBooks Desktop Premier Plus QuickBooks Desktop Mac Plus QuickBooks Desktop Enhanced Payroll We do our best to inform you of your options based on your construction company's needs and ensure you are alerted to fundamental software changes that may affect your construction business now or in the future. Although extended, we recommend checking and upgrading immediately to avoid service disruptions and workflow interruptions. Please plan accordingly or reach out if you need help. Final thoughts As a business owner, a lot of critical information exists only in your head. As the founder, you always know what's happening and how to do things, but what would happen if you weren't there? Developing a contingency plan is not just good practice; it's a critical component of your business strategy. By taking proactive steps today, you can secure the future of your small business. Plus, having a plan gives you peace of mind that everything could continue in your absence or without crucial team members. It also makes for a better-run and more organized business. Forcing yourself to have everything documented centrally builds a greater awareness of roles and responsibilities across the organization while making holidays less challenging! We could be a part of your contingency plan; let me know how I could help with yours. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 580, And It's About  Improving Construction Communication And Workplace Productivity The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should always be a priority when the ultimate goal is a sustainable and profitable business, the process is more straightforward said than done.    In today's fast-paced construction industry, staying in touch and being productive is crucial for project success. The good news is that technology has made it easier to streamline processes and enhance team collaboration.   One of the most impactful ways technology has improved construction communication is through user-friendly mobile applications and project management software. These tools allow for real-time communication, easy document sharing, and smooth task management, reducing the delays and errors often associated with traditional communication methods.   Moreover, Building Information Modeling (BIM) technology has transformed how construction teams work together. BIM fosters better communication and collaboration by providing a centralized platform for sharing 3D models and project data, ultimately leading to more efficient decision-making and problem-solving. Another astounding technological advancement that has significantly boosted workplace productivity is the integration of wearables and IoT (Internet of Things) devices. These innovations enable real-time tracking of equipment, materials, and the workforce, leading to optimized resource allocation and enhanced safety measures on-site. Would you like to implement better practices while staying on budget? These are some of the most effective methods of managing a productive, happy workplace while increasing output: Embrace Technology While many construction workplaces still see new technology, as mentioned above, as unnecessary or even distracting, the simple truth is that it can significantly impact productivity. Updated hardware, software, and machinery ensure that work can be performed quickly and with minimal error. While it may not seem like a big deal, even minor issues, such as temporary connectivity problems or hardware breakdowns, can quickly add up throughout a fiscal year. Start small, like incorporating better project management software and bookkeeping processes. If this overwhelms you, let me know how I can help. Avoid Excessive Micromanagement There is no denying that management is crucial, but too much of a good thing can adversely affect productivity. Instead of encouraging employees to put forth their best efforts, it results in an eventual dependence on micromanagement that can sink productivity levels. Excessive micromanagement can be detrimental to productivity and morale in a construction workplace. To avoid this, it's essential to focus on Hiring and training competent employees so you can have confidence in their ability to perform their tasks without constant oversight. Clearly defining the project objectives and individual responsibilities can help employees understand what is expected of them, reducing the need for micromanagement. Encouraging open dialogue and feedback can help employees feel empowered and trusted, reducing the need for constant supervision. Delegating decision-making authority and autonomy in their areas of expertise, reducing the need for constant oversight. Implementing project management tools and software can provide real-time visibility into task and project progress, reducing the need for constant check-ins. Providing constructive feedback and support, allowing employees to learn and grow. Recognize Success Just as employees must be held accountable for their actions, they should also be recognized for their success. Even small efforts, such as verbal recognition or occasional awards, can encourage employees and make them feel like their hard work is being rewarded. For businesses that can afford it, more significant rewards, such as holiday parties, improve morale and create camaraderie in the office, leading to happier, more productive employees. Break Out of Ruts While assigning tasks based on an employee's particular competencies is generally advisable, remember that doing the same tasks repeatedly over an extended period can make even a skilled employee feel as if their work has become monotonous. Exposing employees to other tasks and even different departments may be helpful. This renews motivation, offers new skills to learn and apply, and gives employees a broader understanding of the company's operations. Cut Down on Meetings Often, meetings serve as nothing more than temporary breaks from productive work. A meeting needs a specific purpose, an organized agenda, and a plan of action to maintain productivity. Meetings can be a great way to share ideas and establish goals, but keep them from getting in the way of delivering actual results. In conclusion Technology has vastly improved construction communication and workplace productivity. By leveraging user-friendly mobile applications and software, construction teams can communicate seamlessly, collaborate effectively, and ultimately achieve higher levels of productivity and efficiency. Balancing a construction business's needs is never easy, but focusing on increased productivity can positively impact nearly every other facet of the workplace. The above-mentioned techniques eliminate unnecessary pitfalls and ensure employees are personally invested in efficient, quality work output. As a reminder: Speaking of technology, have you made the switch yet? QuickBooks plans to stop selling several versions to new U.S. subscribers. The deadline to purchase new subscriptions to the listed products has been extended from July 31, 2024, to Sept. 30, 2024. QuickBooks Desktop Pro Plus QuickBooks Desktop Premier Plus QuickBooks Desktop Mac Plus QuickBooks Desktop Enhanced Payroll We do our best to inform you of your options based on your construction company's needs and ensure you are alerted to fundamental software changes that may affect your construction business now or in the future. Although extended, we recommend checking and upgrading immediately to avoid service disruptions and workflow interruptions. Please plan accordingly or reach out if you need help. We are here to help you achieve your definition of success, whether you would like to outsource your bookkeeping to us, buy and use our templates, or learn to do it independently. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 579, And It's About  How To Build Construction Business Systems That Deliver Results In the competitive construction industry, implementing efficient business systems can make a significant impact on the overall success and profitability of a construction business, regardless of its size or specialization. From streamlining operations to improving project management, adopting efficient systems can yield tangible benefits that truly pay off in the long run.   Too many businesses fail because the owner needs to establish efficient business systems. This typically happens because the business owner is so caught up in the company's day-to-day running that the fundamentals of good business management are forgotten. Often, it must be said that the owner doesn't like bookkeeping or other administrative tasks, so these get put on the back burner.   The symptoms are familiar, and their results are disastrous: Poor or non-existent record-keeping. Tax obligations still need to be met. Invoices go out late, and debts remain uncollected. There is one cash flow crisis after another. Goods and services should be correctly costed and priced. Any of these factors can lead the construction business down the slippery path to failure, but all are avoidable. The whole point of implementing sound systems is that they free you to spend more time working on your business, not in it. Sound business systems will strengthen, improve, and simplify your business. They will also make your construction business far more attractive to future buyers. If you have developed clear operating and procedure manuals, your business will be seen as an independently viable unit and less dependent on you. Here are five steps to a better construction business: Good record-keeping and bookkeeping will help you keep on-side with the Internal Revenue Department. You'll sleep better at night if you can meet your tax obligations through sensible planning. You won't fear a tax audit, and you'll know how your business is doing. You won't be caught by a 'sudden tax demand out of the blue' because no such thing exists for a well-run business. You should always know which taxes are due and when. You'll suffer less stress. Good business planning will help you set goals for your business and take specific steps to achieve them. Without goals, where do you think you're going? Running a business without goals is like arriving at an airport and saying, "I'd like to go somewhere." The person at the ticket desk would think you're clueless! Good cashflow forecasting will enable you to anticipate a possible cashflow problem (something all growing businesses experience occasionally) and take steps before the situation becomes a crisis. Banks will respect you if you anticipate issues and make plans in advance. Banks will not respect you—and will indeed categorize you as incompetent—if you tell them you've been 'caught out' by a crisis. Banks don't like crises. They want you to go to them well before any possible crisis with a plan. This shows them you're in charge of your business. Good creditor and debtor control will improve your cash flow. Invoicing promptly and collecting debts on time gives you the cash to pay suppliers on time and get more favorable credit terms from them. It is a virtuous circle. Sloppiness in this department is one of the most common (and unnecessary) causes of business owners experiencing stress and anxiety. So pay your creditors on time and don't let your debtors use you as a free banking service. Realistic pricing and costing will ensure you run your business competitively but profitably. Poor skills could mean operating at unrealistic levels—even at a loss. For example, your profits will erode if you let costs (such as overhead costs) get out of hand. There is no point in increasing sales if you're not increasing your profits. One key area where efficient business systems can make a difference is project management. For instance, using project management software that allows for effective scheduling, budgeting, and resource allocation can improve project delivery, increase productivity, and enhance client satisfaction. By having a clear overview of project timelines, milestones, and resource availability, construction firms can better manage their projects and ensure that they are completed on time and within budget. Moreover, integrating technology into construction business processes can save substantial time and cost. Leveraging advanced estimating and bidding software streamlines the bidding process and allows for more accurate cost projections, leading to more competitive bids and improved profit margins. Additionally, embracing cloud-based accounting and financial management systems can simplify invoicing, expense tracking, and financial reporting, providing better visibility into the economic health of the business. Another area where efficient business systems can yield substantial payoffs is communication and collaboration. Implementing collaborative digital platforms and tools can enhance communication among project teams, subcontractors, and clients, leading to better coordination, reduced errors, and smoother project workflows. By fostering transparent and efficient communication, construction businesses can minimize costly misunderstandings and delays, ultimately improving project outcomes. In conclusion Implementing efficient construction business systems can generate significant payoffs for construction firms. In business, you don't have to be an expert at everything. For example, you might hate bookkeeping. Okay—but do get someone else to do it for you; don't rely on a shoebox for your accounts! You should at least understand the processes and the overall accounting picture, even if you don't want to do the 'drudge work' yourself. Poor systems lead to stress and burnout. On the other hand, good business systems enable you to work smarter, not harder. They free you to work on your business rather than in it. That way, you're more likely to avoid burnout, and you'll be able to take time off work because you can train others to follow your clearly documented systems and procedures. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 578, And It's About  Utilizing The Power Of Financial Modeling In The Construction Industry n the ever-evolving world of construction, financial modeling is a game-changer. It drives intelligent decision-making, minimizes risks, and ensures the revenue health of projects. Crafting precise and insightful financial models is a valuable tool for construction companies. It offers a panoramic view of the asset landscape and enables proactive planning and strategic management.   Financial models are invaluable tools designed to help you understand and protect your business's economic health. By simulating different scenarios and examining potential outcomes based on various inputs, such as sales growth, margins, and cash flow, these models provide a comprehensive picture that aids in informed decisions.   1. Precise Cost Forecasting and Budgeting Financial modeling empowers construction companies to predict costs accurately, considering many factors such as material costs, labor expenses, equipment outlays, and overheads. Companies can develop precise project budgets by creating detailed financial models, spot potential cost overruns, and implement strategies to monitor expenses. This foresight allows for proactive cost management, preventing financial surprises that could impact project profitability. Start by creating a base financial model incorporating your current financial data. Input variables such as projected sales, estimated expenses, and planned investments allow you to forecast your financial performance across different scenarios. By simulating best-case, worst-case, and most-likely scenarios, you'll be better prepared to navigate potential challenges and seize opportunities. Action Tip: Develop your initial model using spreadsheet software or financial modeling tools. Regularly update it as new data becomes available. 2. Streamlined Cash Flow Management Effective cash flow management is crucial in construction, where substantial capital outlays are often needed before revenues are realized. Financial modeling enables companies to map out cash flows over the project's lifecycle, identifying potential bottlenecks and ensuring adequate liquidity is maintained to support ongoing operations. By optimizing cash flow through meticulous financial modeling, construction companies can enhance their financial stability and seize growth opportunities. Presenting a detailed financial model can significantly enhance your credibility with lenders and investors. It demonstrates your understanding of your business's financial position and showcases your preparation for future growth. Action Tip: When seeking financing, ensure your model includes comprehensive projections showing how the funds will be used and the expected return on investment. 3. Informed Decision-Making through Scenario Analysis Financial modeling allows construction companies to conduct scenario analysis, assessing the potential impact of various factors on project outcomes. Whether it's changes in material costs, fluctuations in interest rates, or delays in project timelines, scenario analysis helps companies evaluate the financial implications of different situations and develop contingency plans to mitigate risks. This proactive approach to risk management is invaluable in an industry where unforeseen challenges can have significant financial repercussions. Financial models serve as robust decision-support tools. They help you evaluate the economic implications of various choices, whether setting pricing strategies, launching new projects, or considering investment opportunities. Action Tip: Before making substantial business decisions, use your financial model to conduct a cost-benefit analysis. This will help you weigh the pros and cons and align decisions with your financial goals. 4. Assessing Project Feasibility and Profitability By incorporating revenue projections, cost estimates, and financing structures into their financial models, companies can gauge the financial viability of potential projects and make informed decisions about resource allocation. This thorough assessment of project feasibility helps companies refrain from investing in financially unviable ventures and focus on opportunities with the most significant potential for success. It's crucial to create detailed and comprehensive financial projections. This includes estimating costs for materials, labor, equipment, and permits and factoring in potential risks and market fluctuations. Additionally, conducting sensitivity analysis and scenario planning can help assess the project's financial resilience to various external factors. Utilizing industry-specific Key Performance Indicators (KPIs) and benchmarks can provide valuable insights into the project's economic viability. Action Tip: Set up regular financial reviews—monthly or quarterly—to compare projected versus actual performance. Use these reviews to refine your model and strategies continually. 5. Setting and Achieving Goals and Monitoring Performances Defining specific financial goals for the construction business, such as increasing revenue, improving profitability, or managing cash flow effectively, is essential. These goals should be realistic, measurable, and aligned with the business strategy. It involves a detailed representation of the construction company's economic situation, including income, expenses, assets, and liabilities. This model is a valuable tool for analyzing different scenarios, identifying potential risks, and evaluating the impact of strategic decisions on the company's finances. Establish clear, achievable financial goals based on your model's insights. By tracking your progress against these goals, you can focus strategically on growth and profitability while identifying improvement areas. Regularly comparing your actual financial performance with your model's projections is essential. This practice helps identify deviations, assess their causes, and make the necessary adjustments to keep your business on track. Action Tip: Break down long-term goals into smaller, manageable milestones. Regularly review and adjust these goals based on your actual performance and market conditions. Strategic Financial Planning and Risk Mitigation Financial modeling is the cornerstone of strategic financial planning for construction companies, providing a roadmap for long-term financial management and risk mitigation. By creating comprehensive financial models, companies can pinpoint potential financial vulnerabilities, develop risk mitigation strategies, and make informed decisions that align with their long-term financial objectives. This proactive approach to financial planning is essential for navigating the industry's inherent complexities and uncertainties. Construction businesses can make more accurate cost projections and optimize their financial resources by incorporating various factors such as material costs, labor expenses, and overheads (LMOS™) into the financial model. Once the financial model is in place, it's essential to regularly review and update it to reflect changes in the business environment, market conditions, or project parameters. This ensures that the construction business stays on track toward achieving its financial goals and can adapt to evolving circumstances. In conclusion The potential of financial modeling in the construction industry is immense. By harnessing financial modeling tools and techniques, construction companies can gain invaluable insights into their financial landscape, make informed decisions, and proactively manage financial risks. Ultimately, the ability to develop accurate and insightful financial models is a crucial differentiator for construction companies looking to achieve financial resilience, profitability, and sustainable growth in a friendly, competitive, and dynamic industry. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 577, And It's About  Mastering Construction Business Finances Through QuickBooks Desktop The power of effective bookkeeping using QuickBooks Desktop - plus an Important Update from Intuit. Keeping track of sales, earnings, expenses, and purchases is fundamental to your construction business's overall health and sustainability. Effective bookkeeping produces the data you need to evaluate your current practices, anticipate challenges, and set attainable future goals. Many business owners dread bookkeeping and accounting tasks despite their proven importance. In fact, 40% of surveyed entrepreneurs claim that bookkeeping is one of the worst parts of running a business! Is it worth the aggravation? Here are three reminders of how effective bookkeeping is the cornerstone of small business success: Keeping track of reimbursable expenses A reliable system for tracking reimbursable expenses ensures you reap all the benefits you're entitled to when filing your taxes. Expenditures sorted into categories, such as "food," "travel," and "office supplies," can be cataloged quite simply with online bookkeeping software. Using a dedicated credit card for business expenses and updating your records every month will put money back in your pocket come tax time. Measuring profitability and planning for the future To grow your business, you must be able to track and compare its finances from one year to the next. In addition to reconciling the books and bank statements every month, effective bookkeeping generates records you can use to gain a comprehensive overview of your business. This data can help you: Measure year-over-year profits; Identify opportunities to cut costs; Plan for major expenses (such as new office space, equipment, or staff) and develop data-based strategies for expansion. Preparing for tax season Few things are more stressful for business owners than scrambling to prepare poorly maintained financial records for tax season. In addition to the panic of last-minute filing, inaccurate or incomplete documentation can lead to severe penalties, fines, and an audit. In the United States alone, 40% of small businesses pay an average penalty of $845 per year for late or incorrect filings! Sound bookkeeping can save you money and give you peace of mind. You'll be assured of compliance with regulations and receive a reliable estimate of amounts owing long before your tax bill is due. If you've been following us over the years, you know that we are raving fans of Intuit, the makers of QuickBooks, and have used QuickBooks since the first version was released in 1992. In fact, in 2005, we moved our entire client base, including our own accounting firm's QuickBooks files, to an Intuit-approved commercial hosting environment so we could offer our clients all of the benefits of the full desktop version of QuickBooks accessible online 24/7, and it has been a huge success! We've always encouraged our contractor clients to use QuickBooks Desktop as QuickBooks Online does not offer the full features of QuickBooks. We know that QB Desktop in the Cloud is one area where you can reduce your overhead and increase productivity quickly and easily.  It is a powerful tool that can streamline your accounting processes and provide valuable insights into your company's financial health. Here are some reasons why using QuickBooks Desktop is crucial for your construction business:  1. Industry-Specific Features: QB Desktop offers industry-specific features tailored to the needs of construction businesses. You can track job costs, create estimates, and manage progress invoicing, which is essential for staying on top of your projects' financial aspects.  2. Robust Reporting: QB Desktop provides robust reporting capabilities, allowing you to generate customized reports to analyze your business's performance. You can track profitability by project, compare actual costs to estimated costs, and monitor cash flow to make informed financial decisions.  3. Integration with Third-Party Applications: QBDesktop integrates with various third-party applications commonly used in the construction industry, such as project management software and time-tracking tools. This integration can help you streamline your workflows and eliminate the need for manual data entry.  4. Job Costing: Job costing is a critical aspect of construction accounting, and QB Desktop offers comprehensive job costing features. You can allocate expenses to specific projects, track labor costs, and monitor overhead expenses to ensure that each project remains profitable.  5. Compliance and Security: QB Desktop is designed to help you maintain compliance with industry regulations and ensure the security of your financial data. You can set user permissions to control access to sensitive information and generate audit trails to track changes made to your financial records.  Using QuickBooks Desktop for your construction business can significantly improve your financial management processes and give you the tools to make informed business decisions. However, change is inevitable, and as someone with responsibilities, I have little time to waste; I have learned that sometimes I have to deliver challenging news. (In case you missed our Tuesday email): For those using QuickBooks Desktop 2021 software, it will be discontinued after May 31, 2024. (You may have received this notice from Intuit through your email). This includes all 2021 versions of QuickBooks Desktop Pro, QuickBooks Desktop Premier, QuickBooks Desktop for Mac, and QuickBooks Enterprise Solutions v21. Other Intuit products are affected by the software discontinuation. If you don't upgrade your QuickBooks Desktop 2021 by May 31, 2024, you won't have access to live technical support if you run into problems or any other Intuit services that can be integrated with QB Desktop. This includes QB Desktop Payroll, QB Desktop Payments, and online bank feeds. Discontinued versions won't receive the latest critical security patches and updates. (More info from Intuit) Final tip: This is the time to ask for help There's a good reason why most small businesses outsource at least one accounting function to help manage tasks like payroll, closing the books each month, and managing accounts receivable. With all the changes coming to QuickBooks software, it would be best and all the more reason to ask for support.  Most entrepreneurs are passionate about developing new business ideas – not crunching numbers. Employing or outsourcing a professional construction bookkeeper, even part-time or as-needed, can help optimize your accounting and increase profitability. It's well worth it. Invest in effective bookkeeping and build a solid foundation for a resilient, forward-moving construction business. Feel free to contact me if you need specific guidance on using QuickBooks Desktop for your construction bookkeeping and accounting needs. And, of course, subscribe to our newsletter so you won't miss out on important industry news, events, and updates. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 576, And It's About  How To Build Up And Stand Out By Delighting Your Construction Clients Most businesses understand that customer satisfaction is crucial to their success. Happy clients are likelier to remain loyal, refer others, and leave positive reviews. This trend has only been amplified by social media and online review sites, where negative feedback can spread quickly and damage a company's reputation. In an increasingly competitive marketplace, more than an effective customer service system is needed: you must provide customers with a positive and memorable end-to-end experience at every touchpoint. Creating powerful experiences that exceed consumer expectations can have massive implications for any business — from increasing brand loyalty and trustworthiness among current clients to being highly attractive to potential customers.  It starts with understanding the difference between traditional customer service expectations and modern customer experience strategies. Keep reading as we explore the nuances of each approach and discuss how construction businesses like yours can strive towards offering excellent experiences in their markets. Defining customer service and customer experience When we talk about customer service and experience, it's not just about providing a product or a service. It's about the way you make your customers feel. Customer service is all about delivering the product or service in a way that exceeds expectations and meets the customer's needs.  But the customer experience is entirely different. It's a holistic approach that considers how your customers are impacted from the minute they interact with your brand to long after they purchase or hire you. It's about creating an emotional connection with your clients and leaving a lasting impression.  So, whether you're a small construction business owner, understanding the power of customer service and customer experience can take your brand to the next level. The importance of customer service in the business Have you ever walked into a store and received terrible customer service? Maybe the employee didn't acknowledge your presence or seemed annoyed when you asked a question. It's a frustrating experience and can leave a bad taste in your mouth about that business.  That's why having good customer service is essential in any industry. It's not just about making a sale; it's about creating a positive experience for the customer. When customers feel valued and heard, they are more likely to return to that business and even recommend it to others.  In a world with countless consumer options, standing out with exceptional customer service can make all the difference. Improving customer service is crucial for any business looking to stay competitive in today's market. Strategies for improving customer service Invest in employee training to equip staff with the necessary skills and knowledge to handle customer inquiries and complaints professionally and empathically. Collect customer feedback to identify areas of improvement for products, services, and overall customer experience. Implement technology solutions such as chatbots or knowledge bases to assist customers and streamline the resolution process immediately. The importance of the customer experience The significance of customer experience transcends the essential act of selling products or services; it's about crafting stories and memories that customers carry with them long after a transaction. A superior customer experience fosters an emotional attachment to the brand, transforming casual customers into passionate advocates and vocal supporters.  Where choices are plentiful and attention spans are short, construction businesses that focus on delivering memorable customer experiences will not only distinguish themselves from competitors but will enjoy enhanced customer loyalty, increased satisfaction, and, ultimately, improved business outcomes. What should you look at within your customer experience? How quickly do you respond to customer website inquiries? Do you have a target time, and how do you measure this? How quickly do you get the quote to the prospect or set an appointment date? How do you measure that you meet an acceptable time frame? When do you follow up? How do you do this? Who is responsible for this? How do you make clients feel special the first time they use your services? During the sale process, how do you make the customer feel like they are your most important client? What do you know about them? Has everyone in your business been appropriately briefed about a new client, and has anything in particular been discussed with the client? How do you appreciate the customer after the sale and ensure they have no post-purchase regrets? What system do you have to ensure that customers feel they are unique in the future, not just a forgotten number? How do you thank your customers when they refer to a family member or friend? Lastly, do all your business employees know your customer experience process and why it's essential to follow it every time? We have asked hundreds of homeowners, commercial property owners, landlords, commercial space tenants, and even a few car buyers, computer buyers, ship buyers, and consumers about their overall buying experiences, and one common thread appears over and over: They got what they wanted and were happy repeat customers and clients who referred their friends and family, or they didn't get what they wanted and made the contractors' lives hell. Our Script Book has a list of continually honed, polished, updated, and replaced questions, from which we pick and choose the ones to use depending on the situation. Develop Your Script Book—Record the questions and answers that you find. This will encourage people to open up because when they feel valued, your exceptional service and their appreciation will be far more rewarding than the money you earn. Start by practicing at social gatherings - they are more casual, business meetings are more focused, network events are somewhere in the middle, and focus group events are intense and tightly focused. The Two Most Powerful Questions: What are your most important criteria in making a purchase decision? What is the one thing you remembered about your purchase? Final thoughts Customer service and customer experience are crucial aspects of any business. Without them, companies will struggle to meet their customers' needs and fail to create a positive and enduring impression that ensures long-term loyalty. All businesses should prioritize investing time and resources to provide quality customer service and improve the overall customer experience. Ready to elevate your customer service and create unforgettable experiences? Get started now and reach out if we can help you in any way. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 575, And It's About  A No-fuss Record-keeping Guide For Your Construction Business Managing a hectic schedule and complex projects can be challenging if you're a contractor. You must also ensure that your paperwork, documents, and contracts are in order. It's essential to keep a paper trail of your work and practice due diligence.  Keeping all your working documents in order shows that you treat your business, customers, and subcontractors responsibly. This is a mark of professionalism and can also help if you have an insurance or legal claim. Contractor paperwork documentation and procedures You should develop documentation and record-keeping procedures appropriate for your contracting operation or service if necessary. Once procedures are in place, it is equally important to ensure everyone understands and follows them.  It's good practice to hold a workshop on documentation procedures with your employees and have them sign off that they understand and have copies of the procedures. For construction jobs, some of the documents that may be obtained and maintained as part of your documentation procedure include: Project tenders/estimates Contracts or work orders Duty to perform documents Site inspection forms Tests on work completed Documentation for materials delivered to the site Documentation of your risk services assessment Certificates of insurance from your subcontractors Using Digital Tools and Software Implementing project management and documentation software can significantly reduce the time spent on paperwork. These tools can help track project progress, manage invoices, and store important documents securely in the cloud for easy access from any location.  There are many options on the market, and it's unlikely that a single piece of software will meet all of your project management needs. Companies usually combine a few applications to create a custom solution. Remember, the accounting software you need depends on the level of reports you require. This is why we recommend choosing project management tools that integrate nicely with the parts of your setup that don't need changing. What to look for Real-time reporting capability Effective construction project management requires up-to-date information. With this, you can make important decisions if you rely on guesswork, which is a lousy way to do things. The best project management tools for the construction industry offer instant reporting. Accessibility Your data must be as accessible as possible. The best construction project management tools are cloud/web-based, which makes them accessible from virtually anywhere in the world. Good Support Incorporating even the best construction project management tools will inevitably result in hiccups. That's why you should look for programs from companies with reliable customer support. Security Your data is precious and sensitive, and construction project management tools and techniques should reflect this. Before you incorporate any software into your workflow, research the company behind it, its terms of use, and the security measures it implements to keep your company's data private. Construction project management tool checklist Here are questions to ask yourself once you've narrowed your options using the above criteria: Does the software come with enough licenses for my company? Can I use the tool on multiple devices? Does the software have several positive reviews? Will the company demo its software for my company? Can my current data be easily transferred to this new software? Do partner companies use the same software or a program that integrates well with this one? The proper construction project management tools can make a big difference to your company and its productivity. I hope this helps identify the best picks and what you must consider when evaluating them.  Proper record-keeping helps you manage your finances, comply with tax laws, and make informed decisions about your business.  Now that you've narrowed down what your company needs for record-keeping, here are some tips to help you with bookkeeping or both: 1. Keep accurate records of all income and expenses, including invoices, receipts, and bank statements. 2. Use accounting software to manage your finances. This will make managing your cash flow, tracking your expenses, and generating financial reports easier. 3. Separate your personal and business finances. Use separate bank accounts and credit cards for your business expenses. 4. Track your payroll and tax obligations. Ensure you are withholding the correct taxes from your employees' paychecks and paying your taxes on time. 5. Store your records in a safe and secure place. Keep backups of your financial data in case of a disaster or data loss. If you've reached this point - perhaps you're wondering: Do I still need to implement record-keeping practices when I have already outsourced you as our bookkeeper? That depends. Are you proactive or reactive? Proactive Business Owners have systems and strategic planning to optimize profit and growth and understand the value of construction bookkeeping and accounting, while Reactive Business Owners wait until the taxes are filed to find out what happened and never plan, and worst, haven't sent any paperwork to us. In All Cases, as the construction business owner, you should take a "hands-on" approach, including paying the bills, because we do not touch your money. It is optional for our clients to have 24/7 access to their QuickBooks files and review their Key Performance Reports/financial reports daily. We continually improve processes to make other reporting methods available. With us handling the contractor's bookkeeping services tasks, your in-house staff is free to work on more productive tasks and do what they do best.    Final thoughts By following these tips, you can ensure that your construction business stays organized, compliant with tax laws, and financially healthy. We offer a free one-hour consultation; if it takes a little longer, that is OK! Your relationship with your bookkeeper is one of the most important business relationships ever because we will know what works and what doesn't for you and your construction business. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 574, And It's About What Every Contractor Needs To Know About Successful Construction Companies   Small construction businesses have several characteristics that distinguish them from larger firms. These characteristics include having a limited workforce, smaller revenue streams, and a more localized focus.  They are often run by the owners themselves or a small team of employees. They tend to have a more personal approach to their work, as they are usually more involved in every aspect of the project. Due to their size, they are often more flexible and able to adapt to market or project scope changes. However, they may also face challenges such as limited resource access, difficulty securing financing, and increased competition from larger firms. Over the years, we have had many successful construction clients. The seasoned ones have become lifelong friends and are now retired, living according to their terms. And several are still working according to their schedule with quality, high-paying clients. Is it still possible to succeed in this industry, given the state of the economy? Regardless of government or environment, what I find common among them are these characteristics: 1. Owners leading by example The construction company owner or project manager leads by example. They are usually the first to arrive and the last to leave. The owner knows everyone by name, and their presence is unmistakable. They show a strong commitment, setting the standard where they work. This commitment should be easy to understand. After all, if they don't work hard in their own company, how can they expect anyone else to take their business seriously? 2. Simple business structure They operate a simple and open business structure, encouraging easy access to the owner for every employee. They value the contribution of each employee, many of whom are allowed to influence aspects of the construction business that would ordinarily be denied to them in a large hierarchical company 3. Communication among employees Staff receive information as soon as the owner does. Goals, problems, and concerns are discussed openly. Feedback on issues is encouraged, and staff are asked to contribute their ideas for improving and overcoming difficulties. It is often this aspect of open communication that staff appreciate the most; it is unique to small construction businesses, whether you have only one or two staff. 4. The crew is carefully chosen Staff is recruited very carefully because the contractor owner(s) recognize that they are the lifeblood of any small business. Staff are hired because their knowledge, skills, and abilities will benefit the organization rather than because of friendships or family relations. They are carefully chosen, nurtured, and trained to help the crew members and the organization from the relationship. 5. Staff commitment and loyalty All staff are very committed and loyal. Good performance is rewarded with praise, extra responsibility, and money—poor performance is not. Poor workers are consistently removed as they upset the rest of the team. Organizations whose staff show optimum commitment and loyalty have a source of competitive advantage that is hard to copy or beat. 6. A unique service (or product delivery that goes with the service) Most successful construction businesses have unique products or services, such as designs, products, systems, or some other aspect that sets them apart. This uniqueness is an essential source of competitive advantage and one that many companies work hard to sustain, adapting and innovating their products or services as their competition catches up with them. 7. A specific customer focus Successful small businesses specifically focus on their customers and clients and are geared to supplying them with exactly what they want. This focus means adopting a market-led approach, with the owners and their managers consistently looking for ways to solve their client's problems and improve their products to match their client's requirements. 8. Prompt follow-up On occasions when an inquiry or complaint is received, successful construction company owners actively follow up and solve them as quickly as possible. The results are promptly reported back to the client or customer, and in the case of complaints, measures are put in place to reduce the likelihood of similar issues reoccurring. Successful small businesses view complaints and problems as opportunities for growth and improvement. They work with a construction accountant They hire the best people to do their job in-house or outsourced. There are several valuable lessons that construction business owners can learn from accountants, and the successful ones know and appreciate the value they bring to their business.  Construction accountants are experts in financial management in their industry. They can help trade business owners understand their company's financial health, identify areas for improvement, and develop strategies to increase profitability.  Additionally, construction accountants are skilled at analyzing data and making informed decisions based on that data. They help construction business owners track their progress toward goals, identify trends and patterns in their financial data, and make data-driven decisions to benefit their businesses.  Since delegating their financials to us, our clients have told us that they have more time to focus on what they're good at and love to do. We help them stay compliant with tax laws and regulations, which is one of the common causes of a business's owner stress come tax time. By working with us, you can ensure you meet your tax obligations and avoid costly penalties. You can also gain valuable insights and support that will help you grow and succeed in the long run. Final thoughts Embodying these traits and improving your practice are essential to succeeding in your construction business. A solid plan that clearly understands your target market and competitive advantages and a detailed financial system are also necessary. Focus on building meaningful relationships with clients and suppliers, providing high-quality work, and staying up-to-date with industry trends and technology.  Additionally, it is crucial to have a skilled and reliable team in place and continuously invest in their professional development. You can build a successful and profitable construction contracting business with dedication, hard work, and a strategic approach. And, of course, a construction business accountant who will guide you along the way. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode 573, And It's About Navigating Construction Cash Flow Challenges, Myths, And Facts In the world of small businesses, positive cash flow is king. The driving force keeps your business engine running smoothly, covering all your liabilities. But what happens when outflow exceeds inflow? Cash flow problems ensue, threatening the survival and growth of your construction business. These cash flow problems can originate from various sources, including macroeconomic issues like recessions, natural disasters, wars, and microeconomic problems like business decisions and performance. However, careful planning and smart accounting practices can cushion or even avoid these financial blows. Managing cash flow is a vital part of running a successful construction business. Some contractors think managing cash flow means tracking how much money enters and leaves their business, but more goes into it.  [Starting Cash + Cash In - Cash Out] = Cash Flow Contractors and sub-contractors know there is more to profits than shown above, and most of you rely on your "gut feel" to see when the project has made a profit. Unfortunately, many cash flow myths and misconceptions can lead to poor financial decisions. For a better understanding, how about a mindset shift first? Myth: Profit equals cash flow.  Fact: Profit is not the same as cash flow. A business can be profitable but still have cash flow problems. Profit is the amount left over after all expenses are paid, while cash flow is the amount of money that comes in and goes out of the business.  Myth: Increasing sales will solve cash flow problems.  Fact: While increasing sales can help improve cash flow, it is not a guaranteed solution. If a business is not managing its expenses properly, increasing sales will only exacerbate the cash flow problem. It's essential to focus on controlling expenses as well as increasing sales.  Myth: Cash flow problems are always caused by slow-paying customers.  Fact: Slow-paying customers can contribute to cash flow problems but are only sometimes the root cause. Factors such as overstocked inventory, underutilized equipment, or poor project management can also impact cash flow.  Myth: Borrowing money is the only way to improve cash flow. Fact: While borrowing money can provide a short-term solution to cash flow problems, other options exist. Construction businesses can also improve cash flow by reducing expenses, increasing sales, and negotiating better payment terms with vendors and customers.  Construction businesses can make better financial decisions by understanding the facts about cash flow.  Let's delve into some common cash flow issues and explore how you can manage them effectively. Problem: Lack of cash reserves If your contracting business's revenue drops, having enough cash reserves to cover up to six months of expenses can be a lifeline. Solution: Project your cash flow by estimating your sales, determining payment timelines, and estimating all expenses. Your accountant can help you create cash flow projections in your accounting software so you know where you stand financially. Problem: Expensive borrowing High-interest credit cards and business loans can significantly affect your business's revenue. Solution: Consider supplier financing or refinancing loans to secure lower payments. Term loans with competitive rates can also help improve cash flow. Initiate a discussion with your lenders if interest only or deferred payments on outstanding debts are possible. Request more flexible payment options It never hurts to ask, especially if you've been transacting with your vendors for a long time and you've established a certain level of mutual trust and confidence. You can request more flexible payment options or longer payment terms. Tap into available credit lines Take advantage of available lines of credit and place the funds in interest-bearing accounts. Problem: Decreasing sales or profit margins Offering too many discounts or pricing your products and services too low can result in low-profit margins. Solution: Create a short-term business survival plan and adjust your pricing strategy accordingly. Problem: Outstanding Receivables Late invoice payments can tie up your money and affect your business's cash position. Solution: Review payment terms, send invoices early, accept multiple payment methods, offer incentives for early payment, and, as a last resort, consider selling your debt through invoice factoring. Make invoicing a priority—get paid faster and aggressively follow up on invoices. Small businesses in the construction industry risk having their clients not pay them on time—or at all. Being too passive in collecting unpaid invoices or reminding clients when payment is due will not help you collect the money you need to pay your bills. Sending out reminders of due invoices can speed up getting you paid and encourage clients considering not paying you to reconsider. Reach out to clients if necessary to discuss payment options. Even a payment schedule is better than no payment at all. Problem: Uncontrolled business growth During high-growth phases, cash flow shortfalls occur when expenses exceed working capital. Solution: Slow down and get your finances in order. Implement new accounting measures for a clearer picture of your financial situation. Problem: Inaccurate forecasting or bookkeeping practices Cash management may become more complex as a business grows, leading to forecasting errors. Solution: Hiring a professional accountant or bookkeeping service will help you to avoid accounting mistakes. The financial aspects of a construction business are complex and take much time and planning. That can add demanding responsibility to the business owner. Hiring someone to take care of the financial aspects of your business or even to advise you about the decisions you face can take the stress off you. That's precisely how we can help. Having someone on your side with financial expertise and construction experience to assess your business, advise you about your cash flow, and help you secure funding. With the time and money you'll save, it will be worth it in the long run. Final thoughts Addressing these common cash flow problems can protect your business's health. Cash flow problems may seem overwhelming, but they are manageable with the right tools and insights. We can advise you on comprehensive solutions to suit your specific situation, empowering you to make informed decisions and manage your finances effectively. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 572, And It's About Budgeting, Forecasting, And Goal-Setting In Your Construction Company   If you're like many construction business owners, you may need help understanding your finances or how you can use your financial information to make decisions for your business. We often get into business because we love a product or service we want to provide, but it's less common that we love managing the financial aspects of our business.    As a construction company owner, you have the best chances of success when you regularly set budgets, develop financial forecasts, and establish goals. Budgeting, forecasting, and goal-setting are best business practices that can help you stay on track and ensure long-term success.    The M.A.P. Way Budgets are invaluable business tools because they help you manage your finances effectively. A budget is a plan for how you will spend money in the coming year. It's connected to setting goals, such as setting aside money for promotional expenses (Marketing), hiring a subcontractor, or outsourcing tasks (Production). Forecasting helps you look at your finances (Accounting) in the short term to ensure they align with your business's long-term strategy. Goals help you establish your financial priorities and set a plan for moving your business forward.  1. Budgeting - as your roadmap A budget is a plan for how your business will spend its money. It is a roadmap that helps you reach all your business's goals and objectives, including financial ones. Budgeting involves tracking your expenses, revenue, and profits and making informed decisions about where to allocate resources. By creating a budget, you can keep track of your finances and ensure that you are spending appropriately in any particular area.  Having a budget will help you control cash flow. It will also help ensure that your construction business stays on track with spending so you don't pay more than you bring in. A budget also lets you know when you have enough money in your accounts to meet expenses such as payroll, taxes, and bills. If you don't have enough cash to cover your costs, you can revise your budget to free up additional money. Lastly, budgets allow you to understand how money flows into and out of your business, which makes it easier to meet your immediate financial needs while planning a sustainable future. 2. Forecasting - to avoid roadblocks Forecasting is a great way to determine your business's future profit and loss. It enables you to predict future cash flow, sales, expenses, etc. Financial forecasting can help you manage your finances by enabling you to anticipate what might happen and plan accordingly. By analyzing trends and patterns in your construction business, you can predict potential challenges and opportunities. This can help prevent overspending or under-budgeting during slow periods or high-demand seasons.  This also allows you to provide accurate budget projections when seeking funding from banks or investors, which can help you make informed decisions and avoid potential roadblocks.  3. Goal-setting - to help you budget and forecast more effectively Your goals enable you to set a vision for your business and implement steps to achieve it. For example, if you want to bring in 5 new clients in the next two months, you must explore whether your marketing budget can accommodate that and adjust accordingly.  If you aim to hire additional staff, you can look at your forecast to determine the best time to hire–and how long it will take to build up the revenue to bring in new people.  Focus your efforts and increase your chances of achieving your goals according to the SMART guidelines: Specific, Measurable, Achievable (Attainable), Realistic, and Time-Bound. Start by defining your top three business goals for the next four quarters. Then, with those in mind, do some research to help you decide on the best way to achieve them and a reasonable timeline for meeting specific targets.  Setting realistic and achievable goals can motivate your team and measure progress. This helps ensure everyone is working towards a common objective and that your business is moving in the right direction. Additionally, goals enable everyone on your team to know what you're working towards so they can feel engaged and take ownership of progress.  Strategize for long-term growth Practical accounting means managing day-to-day finances while making provisions for future growth. Software and cloud-based solutions offer easy ways to track your financials, but they also generate reports and provide analytic tools construction business owners can use for future forecasting. Familiarize yourself with the reports your software can generate to track long-term trends, identify and mitigate risk, and discover new ways to increase profitability. Talk to your accountant about which reports and metrics are most important for your business and how to utilize them.  Construction business owners like you are rarely trained accountants. Don't try to manage your company's finances alone. Collaborate with a trusted professional, invest in quality IT solutions, and familiarize yourself with relevant tools and trends.  Final thoughts Budgeting allows you to understand how money flows into and out of your business, which makes it easier to meet your immediate financial needs while planning a sustainable future. Forecasting encourages you to examine your records and anticipate the future so you are prepared for fluctuations in your cash flow. Goal setting creates your vision for the future so you can identify financial priorities.  All three are essential to building a sustainable and thriving business, but accountability is critical. Set up dedicated time at least once per quarter to review your progress. You don't have to go through this alone; let me know how I can help. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected].  

This Podcast Is Episode 571, And It's About Practical Tips To Improve Your Construction Marketing Strategy Stepping up your marketing game as a construction business owner is always a welcome topic in my client conversations. Often, contractors chat with me about the best way to promote their company, primarily because no one else is running it.    You may focus more on accounting and taxes at times, and at other times, your business may slow down, and sales become more challenging. Given this trend, establishing and maintaining connections with existing and potential customers has become more critical.    So, if you're looking to do some construction business promotions to attract more quality clients, what do you do, especially on your own? Here are some practical tips that I highly suggest to consider:   1. Build a solid online presence: Create a website showcasing your services and experience, and make sure it's easy for potential customers and homeowners to contact you. Plus points if you know how to optimize it by location and keywords, or you can always learn a thing or two when you Google: Local Search Engine Optimization. It's essential to show up first in SERPS (Search Engine Results Page) when someone looks for "plumbing emergency in (city)" or "HVAC installer nearby." As you build and edit your pages, keep in mind your USP (Unique Selling Proposition): What your business does. Whom it serves. Why it's different from other companies? How is it beneficial to your prospective client? Note that some of these elements can be divided into sections and published on one page; for instance, Services and Testimonials can work well together. This gives your visitors much-needed assurance that you have had successful projects and happy clients.  Create informative content: Share blog posts, videos, and infographics that provide value to your target audience and establish your business as an industry expert. Remember to include your Awards and Recognition (if you have any) and place it strategically. Add value to your website footer by including your contact details, policies, and other relevant links. Include appropriate CTAs (Call-To-Action) throughout your site so prospective clients can take the necessary steps and hire your services. For example, a 'Contact Us' button or a 'Request a Quote' form can be effective CTAs. 2. Use social media: Platforms like Facebook, Instagram, and LinkedIn are great for sharing your projects and engaging with your audience. Create posts regularly to update on services or special offers.  Local SEO is mainly about getting listed in local online resources and optimizing your website's and other platforms' online content to reference location-relevant key phrases and regional names rather than generic keywords.  Your construction business listing must be consistent across all platforms you use, mainly because changing it later will be challenging (think about logo placement, colors, and font). 3. Register your business on online directories: This will help increase your visibility and attract more local clients.  Google Business Profile - This is a free tool for promoting your business profile and website on Google Search and Maps. Even if you don't have a website, your Google business profile is the most crucial resource for local businesses. Claiming and verifying your business's listing will help your efforts appear in local search results. Bing Places - Microsoft's version, which might be less popular, still needs attention. It works the same way, allowing you to claim and verify your business's physical location and have it appear in Bing Maps and on mobile devices running the Windows Phone operating system. Yelp. Yelp is an online urban guide that provides local business listings. It recently replaced the relatively unsuccessful Apple Maps app for iPhones and iPads, and these devices now use data from Yelp to display local information with their included mapping apps. Given the enormous popularity of iPhones, the advantages of getting listed on Yelp should be obvious. 4. Attend industry events: Trade shows, conferences, and networking events are great opportunities to meet potential clients and connect with other professionals in your industry.  Remember, networking is about building relationships, not just collecting business cards. Be genuine, be interested in others, and follow up with people after you meet them to continue the conversation. The key here is to stop looking at every person in your networking group as a potential sale. Especially early on, be more concerned about what you can give than what you can get from these meetings. Give materially by sponsoring group events, donating to fundraising, or bringing bagels to the meeting. Give your time and effort by contributing to a service position, or be free with great ideas and a welcoming smile. The long-term value of networking groups lies in building strong trusting relationships that will give you influence beyond the people in your immediate group. 5. Word-of-mouth referrals are the most cost-effective way of gaining new customers because you don't have to spend anything on advertising or marketing. Research has repeatedly shown that referrals have a higher conversion rate (inquiries to sales) and spend more than other customers. People have more confidence in a business recommended by friends or colleagues. Referrals will happen naturally if you provide excellent service and good value, but you can improve your referral rate through an active incentive program. Final thoughts This seems a lot to do, especially if you're single-handedly working and managing your business. But unless your construction company has lots of work stacked up, there will be times when there is nothing to do, and that is the best time to think about Strategic Marketing and following the adage: "Dig your well before you are thirsty." You will only build a loyal client base if you earn your visitors' trust, which is why companies value social proof highly. Proving your construction business's value online takes a unique skill set, but boosting it during your downtime is a great practice.  PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 570, And It's About Construction Business Practices For Getting Paid And Paying Yourself Running a small construction business may seem like hopping from one task to another, needing more support and guidance. That can make it tempting to let some to-dos on your checklist slide, especially those related to finances, which can be challenging and are often outside your preferred skill set or experience.    The issue, of course, is that clients can only pay you once you've invoiced them. And as you make your salary a top priority, you can also pay yourself. You need an invoicing system that makes the process less painful—or even removes it entirely from your hands.   There are some tips you can follow to keep your finances healthy and enable you to thrive. Here are some practices to improve managing your financials so you can have the best chances of success in your construction business.. Pay yourself The business owner's salary is the line item most often left out of a small construction company's budget. As a construction business owner, you may be tempted to keep putting every cent you earn back into your contracting business, but paying yourself first is necessary. You need to earn a living; paying yourself can help your business succeed. You need to pay your bills and be financially sound. You'll also need to have money set aside for your retirement.  Ensure you draw a regular income from your business to cover your expenses. Talk to your accountant for guidelines on how much to pay yourself, and always treat yourself as generously as you would your employees. Reward financial milestones met and projections exceeded with a bonus. Raise your salary when your profit shows continuous growth. If giving yourself a raise creates some anxiety, do it in confidence, knowing you can always make adjustments as needed. Have a separate business bank account From day one, business owners should have a separate bank account to deposit their income and pay their business expenses. Keeping your business and personal finances together makes it more difficult to track how your business is doing and how you're doing. Separate bank accounts for your business and personal finances allow you to monitor where and how you spend money more efficiently. It's also crucial to designate a business-only credit card. During tax time, separate statements make submitting claimable expenses quick and easy while reducing painful audit risk. Have separate accounts for your business and finances, and deposit your salary (see the above tip) into your account.  Have a good billing strategy Every business owner wants to make money. Invoicing is typically one of the tasks that contractors like the least. Chores like creating and sending invoices are set aside for other more enjoyable or urgent tasks. Eventually, you'll deal with clients who are slow to pay their bills. Money your clients owe you isn't accessible until it's in your bank account. The good news is that we have developed two solutions that can streamline your client's payment process: Contractor Payment Application The difficulty often comes down to waiting for clients to pay their invoices. Chasing down one or two chronic late payers costs valuable time and money; if reliable clients stay caught up on one month, the result can be devastating. Many contractors use QuickBooks For Contractors to keep track of Job Costs and invoice their clients—it works well if you only have a few simple invoices.  The tricky part is when you get beyond two invoices, add some job deposits, and change orders because there is no "magic button" in QuickBooks to generate an invoice that will make sense to your client. Randal DeHart created this Excel program for complex invoices, which shows the money trail from beginning to end in a way that everyone can understand and appreciate, which means you get paid faster, with less hassle, and your clients will love you for it. Job Deposits In QuickBooks Class Send your invoices immediately when a contract wraps up or it's your scheduled billing day. Automating your invoicing with a cloud-based accounting solution will eliminate the need for time-intensive manual billing and ensure you stay caught up. This class will help you master setting up, requesting, receiving, reporting, and applying Job Deposits in QuickBooks. It will also take the stress out of generating a report to see who has deposits and balances and teach you how to avoid payment problems by offering options to your clients. Remember to invoice immediately and follow up before the payment deadline so you can get started on your client's large companies with their payment terms, find out what those are, and be mindful of them when billing.  Hire a construction bookkeeper Bookkeepers handle your company's day-to-day financial transactions and records. That includes invoicing and following up when invoices aren't paid. A bookkeeper creates the invoices and ensures they're sent out on time. They record all payments that come in and follow up on unpaid invoices. Having a complete view of your company's financials lets them tell you if you're charging enough for your services. Think about how much easier it would be to get paid if someone else was responsible for ensuring that happened. Final thoughts Many construction businesses generate revenue, but it typically takes time to see healthy profits – another reason it can be difficult to pay yourself first. Nonetheless, rewarding yourself for your hard work will motivate you to keep working, even if you aren't able to pay yourself a large salary right away. One of the best ways to encourage customers to pay on time is to maintain a friendly relationship. Encourage goodwill by adding a handwritten note to your invoices, remember your clients' birthdays, and thank them occasionally for their ongoing business.  It's a simple fact: when your customers feel connected to the person behind the business that serves them, they'll be more inclined to take care of their invoices quickly.  Let me know how I can help your business with Invoicing. We can tailor our services according to your company needs - whether you're just starting or scaling up. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 569, And It's About How Not To Undercharge Your Construction Clients Contractors like you know how to pound nails, pour concrete, build homes and commercial structures, bend pipe and pull wire, install roofs, lay carpet, paint walls, and perform a thousand other tasks. So why are you not enjoying the same standard of living as other professionals? Because you are doing all of those things for anybody and everybody who asks you to.   Too many contractors are overworked, undervalued, and underpaid. We seek to change that for as many contractors as possible as we know how almost every sound, solid, hardworking, well-intentioned contractor is going out of business or barely scraping by, and that has to end here and now.   First, I must address how this could be an internal cause, such as how you deem your self-worth. Imposter syndrome is a common problem affecting people in various industries, including construction. For those who don't know, imposter syndrome is the feeling that you're not good enough or don't deserve your success despite evidence to the contrary. This can lead to undercharging clients, which is bad for business and perpetuates the cycle of feeling like an imposter.  In construction, imposter syndrome can manifest in many ways. You may feel like you need more experience or the proper education or training. You may be comparing yourself to others in the industry who seem more successful or knowledgeable. Whatever the case, it's essential to recognize that these feelings are common and don't have to hold you back.  However, when imposter syndrome leads to undercharging clients, it can have serious consequences. Not only are you undervaluing your work, but you're also potentially setting yourself up for failure. If you need to charge more to cover your expenses, you may need help to make ends meet or even go out of business.  So, what can you do if you're struggling with imposter syndrome and undercharging clients?  Here are a few tips:  1. Recognize your value: Remember that you have something valuable to offer your clients, whether it's your experience, expertise, or unique perspective. Feel free to charge what you're worth.  2. Focus on your strengths: Instead of comparing yourself to others, focus on your strengths and what sets you apart. Could you highlight these strengths in your marketing and client interactions?  3. Get support: Talk to others in the industry who may have experienced imposter syndrome. Join a professional organization or mentorship program to connect with others who can offer support and guidance.  Now that this mental dilemma is tackled, let's examine your systems and processes. Working IN your business is a JOB (Just Over Broke) Working ON your business is where MONEY IS MADE What if you could do both? Work in your business and have a higher standard of living.  Because most small construction businesses focus on survival, you pay close attention to the bottom line. This makes sense, but it also leads to being seriously overworked. Contractors like you are under increased pressure to cut their prices to get enough work, which means they need to reduce costs. What to do? 1. Accept that you have to raise your prices at some point It's a daunting task to consider raising your prices, as the danger of losing customers will be front of mind. But the bottom line is this: you can only deliver quality service if you're charging enough. It's that simple. If you're spinning your wheels trying to make up for the difference, you'll lose customers anyway. You won't be able to deliver the excellent service you're known for if you're constantly overworked trying to find profits elsewhere.  2. Understand what's costing you Consider your business costs at least once per year. Check which products or services are making money and which aren't. Then, take it further and pinpoint each area's breakeven position. You will then be able to decide how much more you need to make to be profitable and comfortable. Evaluate all avenues – supplies, staff wages, bills, rent and utilities, training, etc. Doing this regularly lets you see which areas cost you more over time. Those that cost you more will likely benefit from a price increase.  3. Bookkeeping A construction bookkeeper is an expert at managing, sorting, and recording your business's financial transactions. They've spent time developing their skills and experience and seen and resolved bookkeeping-related issues that you may encounter. Their expertise makes them more efficient at managing those issues. Your bookkeeper helps you maintain accurate records and understands your financial circumstances. They allow you to assess how to make critical business decisions, such as whether now is an excellent time to grow or when you should hold back. Your construction accountant can provide insight and advice on how to charge appropriately for your services based on your financial records and industry trends and help you take advantage of those opportunities. Final thoughts Imposter syndrome is a common problem, but it doesn't have to hold you back in your construction business. By recognizing your value, focusing on your strengths, and seeking support, you can overcome imposter syndrome and build a successful and fulfilling career in construction. You work hard as a small business owner and deserve compensation for the time you put into your business. As you work in your field, you gain more skills, experience, and knowledge, which translates to more value. If your construction company is better than it was a year ago, it's time to charge accordingly. Don't undervalue yourself. Remember, as we always say, contractors like you deserve to be wealthy because you bring value to other people's lives. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 568, And It's About The Power Of Core Values In Your Trade Business As a construction company owner, you're the architect of your business's vision and culture. But some of the foundation often needs to catch up in the hustle to improve services, chase sales, and keep the lights on. Core values—those guiding principles that shape your company's identity—are more than words on a wall or a statement in a handbook.   Getting leads and doing the work is only part of the answer. Not answering them and acting on the knowledge is why many construction companies wither and die. They focus on the wrong areas to innovate or improve. They focus on the wrong enemy and threat. As a result, they need to catch up on what they could be doing to succeed and prosper over time.   Is the elevator pitch you used a year ago – even six months ago – still accurate? Unless you are crystal clear on who you are as a construction company, whom you're here to serve, and what you hope to achieve in the next one to three years, it will be hard to come up with meaningful goals.   These aren't just buzzwords to sprinkle throughout your website—your business's core values can act as the compass for your business, sharpening much about it. If your brand needs tweaking to reflect where your construction business is today and where you want it to go, start there.   Let's dive into why core values are critical to your entrepreneurial journey.   1. Core values establish a company culture.   A company without defined core values is like a boat without a rudder—adrift without direction. Sure, you're moving, but where?   Core values foster a sense of identity and purpose   Your core values anchor your company's culture. They define your company's personality. When employees understand and live these values, it unifies them.   Guide decision-making and conduct   Values should be your company's moral compass, setting the course for how you want your team to operate in every situation. From difficult decisions to everyday choices, they help your team stay true to the company's ethos.   2. Attract and retain talent.   In a competitive job market, your company's values can attract like-minded individuals.   Appeal to employees who align with the values   Millennials, and now Gen Z, not only seek employment but also meaningful work. They are drawn to companies whose values match their own. When you promote your business's core values, you'll find it easier to recruit those who are best suited for your team.   Increase employee engagement and loyalty   Employees who connect with your values are more likely to be engaged in their work and committed to the company's long-term success. This engagement translates to higher levels of staff retention, and engaged employees are much less likely to look for a job at other companies.   3. The currency of trust: build trust and reputation.   Consumers want to buy from companies they believe in.   Demonstrate integrity and authenticity   When your core values drive your business practices, you stand out as a company that's not just about profits but about people and principles. This authenticity in business operations builds a strong foundation of trust with your customers.   In a world of cynicism, displaying your core values shows that you mean what you say.   Enhance customer trust and loyalty   A company that walks the talk regarding values will create loyal customers who return for repeat business and refer others to you.   4. Provide a framework for decision-making   One of the trickiest parts of leading a business is knowing which opportunities to chase and which to pass up.   Help plan actions and initiatives   Clear core values make evaluating opportunities easier and aligning them with your company's long-term strategies.   Guide strategic planning and goal-setting   Strategic plans also benefit from a values-driven approach. Your values help you set more meaningful, impactful, and achievable goals that resonate with your business mission.   5. Drive business success.   Ultimately, businesses are run by people. And it is people, working together under common values, that power growth and success.   Create a cohesive and aligned team   When everyone's values align with the company's, you create a culture of respect, understanding, and support.   Set the foundation for long-term growth and sustainability   A business founded on strong core values can withstand market challenges and changes in leadership. It's the foundation for building a resilient, adaptable, and sustainable business.   In the construction industry, where safety, teamwork, and accountability are of utmost importance, having a set of core values can help establish a healthy and productive work environment, build trust among team members, and ensure that all stakeholders are aligned toward a common goal. Core values can also help attract and retain top talent, as employees who share the same values as the company are more likely to be engaged and committed to their work.   In conclusion   Integrity is the overarching essence of core values.  Core values are not mere internal branding nor a dusty document to be rolled out during public relations crises. They are the heart of your construction company.   In crafting core values and integrating them into your business strategy, you're not just creating a checklist of moral standards; you're shaping your company—its culture, impact on the world, and its legacy.   In every action, every decision, and every interaction, your values should be the guide that keeps your construction business on course.   So, if you haven't already, now is the perfect time to sit down with your team and chart the values that will define your business. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 567, And It's About The Secrets To Stellar Client Service In The Construction Industry Customer service is the heartbeat of any successful business. The unsung hero transforms a potential disaster into an opportunity and a mere transaction into a lifelong relationship. In the narrative of customer loyalty and retention, service is the protagonist.   Your approach to customer service has the power to attract and retain clients. As a construction business owner, client service is critical to your company's success. It is essential to understand what your clients want and how you can provide the best service possible to meet their needs.   Why stellar customer service is key The importance of customer service for loyalty and retention cannot be overstated. Positive experiences build stronger emotional connections with customers, leading to repeat purchases or the client hiring you again, enhanced brand loyalty, and positive word of mouth. Stellar customer service is the hallmark of success in a booming digital economy. If you have a website or are marketing your trade business online, you are part of this, or you use platforms where competitors lurk one click away.  One of the most critical aspects of client service is communication. It would be best if you communicated effectively with your clients to understand their requirements, provide updates on the project's progress, and ensure they are satisfied with the work.  You should also be responsive to their queries and concerns and provide timely and transparent information.  Another crucial factor in client service is managing expectations. It is vital, to be honest and realistic about what you can deliver and to ensure that your clients understand what they can expect from you. This will help avoid misunderstandings and ensure your clients are happy with the result.  Good Customer Experience is Key A recent Zendesk report found that 3 in 4 consumers are willing to pay more for good customer service. This is a clear signal that in a market cluttered with varying product specifications, prices, and services, customer experience can be the factor that differentiates you from the competition. Retention Customer retention is cost-effective (five to 25 times less expensive than acquiring new customers) and promises a more predictable revenue stream. As a business, your job doesn't end at the point of sale—it means nurturing and retaining your customers. Crafting your customer service strategy Mastering the art of customer service requires a well-rounded strategy. Let's break it down: Excellence breeds loyalty When you deliver exceptional service, you invite customer loyalty, which fuels a positive cycle of customer lifetime value. From thank-you notes to responsive support, every interaction is an opportunity to reinforce a customer's decision to choose your brand. Accessibility is vital Clients shouldn't need a treasure map to find your service. Information, contact details, and assistance need to be at their fingertips. Accessibility is paramount through a user-friendly website, a seamlessly integrated app, or a robust social media presence. The power of empathy Empathy is the currency of customer service. It's walking in your client's shoes, understanding their pain, and making it suitable. An empathetic approach can turn a disgruntled customer into a brand advocate. Metrics You can't improve what you don't measure. Customer satisfaction metrics like Net Promoter Score (NPS), customer effort score, and customer satisfaction score are valuable tools to provide insight. Customer Service in Practice: Tools and Techniques It's time to delve into practical customer service applications. 1. Omnichannel Customers are diverse, and so are their preferred service channels. From social media to chatbots and the phone, an omnichannel approach ensures that customer service is available and tailored to meet them where they are. 2. Proactive Service Don't wait for customers to come to you with issues. Be proactive. Send out surveys, ask for feedback, and offer service tips before they ask. 3. Flexibility No two customer issues are alike, just like your projects, and neither should their solutions be. Empower yourself (or staff) to make decisions and resolve problems creatively. Sometimes, the most memorable experiences come from the most unusual solutions. 4. Always be learning Customer service is a moving target. Encourage a culture of learning and evolving. Share success stories and pain points within the team or contractor friends in the industry. This will both boost team spirit and also lead to collective wisdom. 5. Turning service into a marketing asset Quality workmanship is also essential for exemplary client service. Providing high-quality work that meets or exceeds your client's expectations will help to build trust and loyalty. Ensure you use quality materials and employ skilled workers who take pride in their work.  Beyond its immediate role, impeccable customer service can also be a marketing tool. Positive reviews: the ultimate trust signal Good service brings good reviews, which in turn attracts new customers. Reviews are often seen as more trustworthy than a brand's self-presentation. Word of mouth: Satisfied customers are the most effective salespeople. They tell their friends and family about their great experiences, and with the power of social media, they can say it to the world. Customer Testimonials: When accurate, unscripted customer stories take the limelight, the message becomes compelling and human. Conclusion: the end or just the beginning? Remember, every interaction with a customer is a chance to shine, and every problem is an opportunity to excel. You'll retain customers and create loyal brand ambassadors by making customer service a core business value.  It is crucial to show appreciation for your clients. Simple gestures such as thanking them for their business, sending a personalized note or gift, or providing follow-up support can go a long way in building solid relationships.  Your clients will remember your service long after the project is done. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode 566, And It's About Marketing Your Construction Business: How To Make It Work For You Marketing your construction business is crucial for its growth and success. You can use various strategies to promote your business, such as creating a website, networking, social media marketing, and advertising. Additionally, sponsoring events and collaborating with other companies can help you reach a wider audience.    I understand how daunting it can feel for construction business owners like you; we've been there. Whether you're new to the game or have been in business for a while and haven't quite cracked the code, navigating the marketing world can be overwhelming. But it doesn't have to be. Your business deserves to be seen, heard, and thriving—with the proper guidance, you can make marketing work for you. Let's unravel the puzzle, starting from square one.   1. Defining your target audience Know thy client: the key to tailored marketing. Before you shout your brand from the rooftops, you must know who you're calling to. Understand the demographics and psychographics of your ideal customer. Are they young professionals, parents, or retirees? What problems do they face that your product or service can solve? The better you know your customer, the better your marketing will resonate.   2. Uncover data gold with market research   Don't rely on guesswork. Dive into market research — it's how you find the "who" and the "why" of your business. This doesn't have to be a complex, expensive ordeal. Start with online surveys or asking family, relatives, and friends in your neighborhood, as well as interviews, social media insights, and competitor analysis. The information you gather here will be invaluable.   3. Set clear goals that spark direction The beacon of your marketing journey Without clear objectives, your marketing can feel scattered, like throwing darts in the dark. Your goals should be specific, measurable, attainable, relevant, and time-bound (SMART). Are you aiming to increase website traffic by 30% in six months? Or boost sales by 15% at the end of the year? These goals keep you focused and make success less vague.   3. Develop a marketing strategy Mapping out your move Once you've defined your target audience and your goals, it's time to set your marketing strategy. Your marketing strategy is the "how" behind your goals. Identify which channels your audience frequents. If you're targeting working millennials, perhaps Instagram is for you. A well-thought-out marketing strategy aligns your business objectives with the most effective messaging and channels.   4. Consistency is king   Branding isn't just a logo or a tagline. It's the sum of all your customer interactions and experiences with your small construction business. Create a content calendar to ensure your brand is visible across all marketing platforms and your message remains consistent. This calendar should include blog posts, social media content, email campaigns, and any other touchpoints relevant to your audience.   5. Crafting compelling content The art of the story Your content should inspire, educate, or entertain — ideally, all three. Write as if you're speaking to a friend, addressing their problem with your service as the solution. Your content is the thread that weaves your story with your customers. Remember, compelling content isn't just about words. Images and videos can support your message.   Visuals – the silent sway   Humans are visual creatures. In fact, 90% of the information transmitted to the brain is visual. High-quality, eye-catching images and videos can convey your message faster and stickier than words alone. Share photos of your "before and after" service provided or a video demonstrating its benefits. The more senses you engage, the deeper your marketing will resonate.   6. Execution and monitoring: making it happen and seeing it through Take the plunge It's showtime! Execute your marketing plan with gusto. Use CRM (Client Relationship Management) tools like HubSpot for email campaigns to save time and stay on track. Remember, marketing is a marathon, not a sprint. Consistency and perseverance are key.   7. Learning from your results   Every marketing initiative is a learning opportunity. Use Google Analytics, social media insights, and customer feedback to monitor how your campaigns are performing against your goals. Identify what's working and what's not, and adjust accordingly. The more you learn, the smarter your marketing will become.   A word of encouragement and empowerment: You've got this!   Marketing can be a rollercoaster, with its ups and downs, but you've already taken the crucial first step – you're learning and adapting—trust in your journey, your construction business's uniqueness, and the value you provide. With persistence, creativity, and strategic thinking, your marketing activities will start to feel like second nature.   Embrace the adventure   Think of marketing as an adventure. You're the explorer, and every campaign is a new frontier. It's okay if there's trial and error and even better if there's growth. You're an integral part of the narrative, and your customer eagerly awaits your next chapter.   Remember, word-of-mouth referrals can also be a powerful marketing tool, so be sure to provide excellent service, build relationships with your clients, and ask for their feedback and referrals.    Now, take these steps, make them your own, and enter the world of marketing with confidence.   Your construction business isn't just another face in the crowd — unique, valuable, and deserving of a spotlight. Let's make that happen. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 565, And It's About DIY Construction Accounting Errors And Ways To Improve Your Practices Many small construction business owners tend to handle their accounting and bookkeeping, especially when they've just started. However, keeping track of the finance side of the business– everything from income to expenses to tax compliance– can be overwhelming.   Mistakes can happen quite quickly and can have costly consequences for your business. Below are five of the most common Do-It-Yourself accounting errors you should avoid.   1. Unorganized Records It takes excellent organizational skills to do your bookkeeping and accounting right. You must record every transaction, keep receipts or digitize them for future reference, calculate taxes accurately, and more. If your records are not kept organized and updated, you'll likely miss something, which could get you into trouble during the tax season. 2. No Accounting Schedule As a construction business owner, there are many other things you need to attend to, and accounting can easily be pushed to the bottom of your seemingly endless To-Do list. Yet, setting an accounting schedule to add your recent income and expenses into your records is extremely important. If daily updating is not possible, at least dedicate some time once a week to do your accounting. 3. Unreconciled Accounts Regularly check if your bank account reflects the same balance as you record your cash flow and other financial data in your books. If you find a gap, there is likely a mistake somewhere that you need to find or even a fraudulent transaction. Taking immediate action will help you prevent worse problems further down the line. 4. Failing to Take Into Account Small Transactions It can be easy to forget about minor transactions, such as the office supplies you picked up on your way to the office or the freebie you sent a loyal customer. However, no matter how small you think the transaction is, keeping a record and getting a receipt is essential. In case of a tax audit, you will need to be able to present records of ALL business expenses, even these small ones. 5. Not Backing Up Data and Using Accounting Software Imagine if the laptop where you store all your financial data was stolen, lost, or broken beyond repair, and you don't have a backup. You need to redo everything from scratch, which could be a massive waste of time. If you're still using a spreadsheet or paper ledger to keep track of your business finances, you might consider upgrading to a cloud-based accounting software such as Xero or QuickBooks. By migrating to the cloud, you can easily back up your accounting data and access them wherever and whenever necessary.  These cloud-based accounting systems integrate well with your bank account and other valuable construction business apps. The results are streamlined processes, less manual work, enhanced efficiencies, and better overall business performance.  Spend Less Time on Your Books and More Time on Your Business While being aware of these common accounting mistakes could help you avoid them, the most convenient and efficient way to stay on top of your business finances is to entrust your accounting to the experts. Our team of experienced accountants can integrate the most suitable cloud accounting software for your business and even train your in-house staff on its proper implementation. I admit that small business owners - like myself have learned to make the most of our resources. As an entrepreneur, I tend to take on the challenge of wearing multiple hats, managing your business, answering phone calls, responding to emails, and scheduling appointments. However, I am reminding you now that being a construction company owner and doing your accounting and bookkeeping requires a different skill set from being a construction expert in your field.  When it comes to your financials, it would be wise to take a step back and let someone specializing in bookkeeping do it for you. Ensure that they are not just accountants or bookkeepers; they are construction bookkeeping and accounting professionals. Still contemplating whether to outsource or do it yourself? Here are the questions to determine which one is right for you: Do I have experience in bookkeeping and accounting? Outsource: Working with a knowledgeable and experienced bookkeeper specializing in your industry will save you time setting up your system and processes, making it easier to get started. DIY: You may have a bit of a learning curve. Start by familiarizing yourself with construction bookkeeping and accounting processes. Create a system and an everyday routine for managing your paperwork. What kind of software and applications should I use? Outsource: Your construction bookkeeper will be able to help you determine which accounting software will work best for your business, provide you with extensive training and support, and share tips and tricks on optimizing it. Fast Easy Accounting supports several different software and applications. In particular, QuickBooks or Xero for construction depends on how you get paid, the work your company does, and if you need Job Costing. DIY: This is where it gets tricky. As I have mentioned, using a particular software depends on your contracting business, what you need out of it, and how much time you are willing to devote to learning and using it. Remember that using more popular and in-demand software and applications has a significant advantage in case of issues. Tech support should be readily available; if not, a quick Google search can lead to video tutorials and community answers. How do I generate Financial Reports? Outsource: Contractor Financial Reports such as Profit and Loss, Balance Sheet, Cash, Receivables, Payables, Job Costing Reports, and Job Profitability Reports all depend on proper bookkeeping set up from Day 1. It's easy to pull a report based on the entries and use it whether you want to understand when and where you are making money or you need to present your financials to the bank or CPA. DIY: It is easily accessed and generated from your accounting software. The real question here is, how reliable are your reports? For instance, a generic chart of accounts with your QuickBooks software is not customized to your construction business needs; thus, transactions are often assigned to improper categories, resulting in inaccurate reports. Final thoughts We offer construction bookkeeping and accounting solutions at our online store. We have QuickBooks and Xero setup templates for those who would like to do their own bookkeeping; we have packages available to choose from when you need to outsource it to us or opt to have an in-depth review of your current bookkeeping setup. Let us take charge of your books while you focus on growing your business. We help a little or a lot, depending on your needs. I look forward to being able to assist you with any option that best fits your construction company.  PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 564, And It's About Common Construction Business Pitfalls And How To Overcome Them Construction Company owners like you have probably experienced life-changing events in the past few years, as many of our clients did. Are you struggling to keep your construction business afloat? Do you find yourself facing the same issues over and over again? It's common for construction businesses to meet various challenges, but if you're not addressing them properly, they can quickly become pitfalls.    1. Poor Cash Flow Management    One of the biggest challenges for construction businesses is managing cash flow. You need cash to buy materials, pay workers, and keep your business running. However, you may be in a cash crunch if you don't correctly deal with your cash flow. To avoid this, you should create a cash flow forecast and regularly update it. This will help you anticipate cash flow issues and take steps to address them before they become a problem.    2. Failure to Adapt to Market Changes    The construction industry is constantly changing, and if you don't adapt, you may struggle to keep up with the competition. For example, if new regulations are introduced, and you don't adjust your business practices to comply with them, you may lose out on business. Keep an eye on industry trends and be willing to adapt as needed.    3. Poor Project Management    Construction projects are complex and require careful planning and execution. If you don't manage your projects correctly, you may experience delays, cost overruns, and other issues. Ensure you have a solid project management plan and that everyone on your team understands their role.    4. Lack of Communication   Communication is vital in any business but especially important in the construction industry. Your team must communicate effectively to ensure projects are completed on time and budget. Ensure everyone on your team understands the importance of communication and has the tools they need to communicate effectively.   5. Failure to Invest in Technology   Technology is transforming the construction industry, and if you're not investing in it, you may fall behind. For example, construction management software can help you streamline operations, reduce errors, and improve communication. Explore the different types of technology available and determine which can help you run your business more efficiently.    6. Not Delegating/Outsourcing Tasks   As much as we all might like to think of ourselves as superheroes who can handle anything and everything, the truth is that we're all human. Sometimes, even the most capable among us need a little assistance, and that's nothing to be ashamed of. Knowing when to delegate tasks can be one of the most important skills you can develop as a leader or even a responsible adult.   Knowing when to ask for help – whether from family members, friends, co-workers, or specialists – can save you time, reduce stress, and improve the quality of the result. So, if you feel overwhelmed by a project or task, don't hesitate to ask for help. It might just make all the difference in the world.   7. Listening to Bad Advice   When you're a small construction business owner, you get used to people giving you advice. While the advice is almost always well-intended, it's not always good.   These are usually the top two tips that well-meaning people give to construction business owners:   Never turn down a paying customer   Money is a good thing. But that doesn't mean you should say yes to everyone who enters your door. Not every person who approaches you is suitable for your business. If your gut tells you something is off—maybe the person is very demanding or constantly questions your prices—it's in your best interests to say no.   It's not necessarily about the client, either. You might be very busy, and taking on another project means you'll give them subpar service or use your valuable personal time.   If possible, turn them away graciously by explaining that you're very busy and cannot give them the attention they deserve. Consider recommending another business for them that they could turn to.   Don't say "yes" to everyone who walks through the door just because they're a paying customer.   The customer is always right   It's often in your best interests to address an unhappy customer and their needs. But some clients will never be happy, no matter what you do, especially in the construction industry. It's okay to try to make things right with them, but you risk word getting out that you'll bend backward to make customers happy. That encourages more unhappy people to come your way. Or it encourages people to find reasons to be disappointed so they can get additional benefits from you.   If it's a normal part of a routine that customers constantly complain and get some reward, you need to examine your business. If the customers are correct, then it's time for some changes. If they aren't right, stop treating them like they are.   When someone offers advice on your construction business, ask what credibility they have to share their insights. Have they owned their own business? Do they know the industry you work in? Have they learned lessons you could learn from? Was their business similar to yours?   Final thoughts   Running a construction business can be challenging, but with proper planning and execution, you can overcome common pitfalls. The truth is that owning a construction business means you must continually adapt and innovate to thrive.   Remember, just because someone offers advice doesn't necessarily mean they are relevant to you. And just because they provide the advice—or just because it is a common saying—doesn't mean you have to follow it.   Contractors like you need results - not advice. Let me know if you want to discuss how you can operate and grow your construction company. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 563, And It's About Unlocking New Construction Clients And Markets For a business to thrive and grow, it needs a strategic plan and the ability to find new customers and continually tap into promising markets. However, this can be easier said than done in a highly competitive trade industry.   With time, the quality of your work will speak for itself, which is the most valuable testimonial of all. While your good reputation preceding you is undoubtedly essential, there are a few other ways that you'll want to market your services to ensure that you have a steady stream of work.   The untapped potential in existing markets   Start by re-evaluating your existing customer base. Profiling them will help you more accurately define your target consumers.    Strategic Marketing is essential for any business to attract new clients, and the construction industry is no exception. Effective marketing strategies can help you reach your target audience and showcase your expertise. Some of these include: Utilizing Social Media to showcase your work and attract new clients Creating a professional website to showcase your services and expertise Using Search Engine Optimization (SEO) to improve your local online visibility Email marketing to stay in touch with potential clients and promote your services Advertising in local newspapers, magazines, or on radio or podcasts. Appear in directories: Ensure your business is on relevant trade directories in your area. Personas: your marketing's best friend Personas bring your target customers to life. If your service's ideal customer is a 40-year-old stay-at-home mom and a husband in the tech industry looking to update their kitchen, create a detailed profile reflecting their lifestyle, income, concerns, educational background, and other key demographics. The deeper your understanding of your target customer, the easier it will be to find others who fit the same profile. Expanding your business horizons Look at where your customer personas are located. Could different geographical regions hold potential for you? If so, conduct thorough consumer demand research in these locations. If the demand is significant, devise a strategy to serve these customers. This could mean extending your services to locations outside your city if the project will pay well. Integrating vertically or horizontally Depending on your current position in the market, you might find opportunities to expand by buying out competitors or partnering with complementary businesses to increase your reach and customer base. Networking can help you build relationships with potential clients and other businesses in your industry. Attend industry events, join local business associations, and participate in community events to build your network You can also consider partnering with other businesses or contractors to expand your reach and attract new clients. The digital landscape: have an online presence A robust website or a business page is a valuable way to reach more clients. A responsive website design could be beneficial if your business customers mostly found you through a Google search on their phone (that's why it's essential to ask how they found you during your first chat). Your website is your storefront, so make sure it's professional, easy to navigate, and highlights your services and expertise. Increase visibility in the real world Make sure your construction business's name and logo appear on any equipment you use, and make clothes for yourself or your crew to wear when they're out and about in the world. It may be smaller than a billboard, but driving and walking around letting people know who you are, what you do, and how to contact you will go a long way to marketing your trade business. If people become familiar with your business name, they'll likely turn to you when needed. Analyzing your competitors   It's essential to know what your competitors are doing. By researching their marketing strategies, you can gain valuable insights into what works and doesn't in your industry. This can help you make informed decisions about your marketing efforts and stay ahead of the competition. One way to start is by analyzing your competitors' websites, social media profiles, and advertising campaigns. Look for patterns and themes in their messaging, branding, and target audience. Re-evaluate your marketing strategy What actions are you taking to attract new clients? Consider brand promotion through conferences or customer surveys. Enhance your online presence on relevant websites and social media platforms. Showcase your work, engage with your followers, and connect with potential clients. You could even set up a formal referral program, as most customers will refer your business to others. Encourage satisfied clients to refer you to their friends and family, and consider offering referral incentives. You can also ask for testimonials and showcase them on your website and social media to attract new clients. Consider offering promotions and discounts to attract new customers and encourage repeat business. Exploring new markets If you feel you've maxed out growth opportunities in your existing market, it might be time to cast your net wider. Perhaps your expertise could transfer to consulting or different sectors like B2B, which could be viable options. This could require some tweaking of your marketing approach and product offerings to cater to other pain points, problems, and priorities. Partner with other businesses in your industry or outside but still relevant to what you do - like Real Estate Agents, Photographers, and Local Community Artists and Influencers, to offer joint promotions, share leads, and cross-promote each other's services. In Conclusion As a construction business owner, it's important to increase your local visibility, understand your target audience, and create a message that resonates with them. Of course, don't forget to measure your results. Finding new clients and markets is an exciting journey that could unlock doors to business growth. It requires careful planning and strategic actions, but the rewards could be significant with the right approach. P.S. We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 562, And It's About Improving Productivity And Leadership Mentality As A Contractor As a construction business owner, improving productivity is essential to your company's success. But you may often find yourself pulled in different directions by competing responsibilities. At some point, we all experience that.   Classifying tasks and tackling the most time-consuming ones can feel daunting. But why is it so hard for us to start – or even finish – seemingly insignificant tasks? Why do these tiny tasks become the bane of our existence, tempting us into procrastination limbo?    Let's explore why we get stuck on even the most minuscule duties and how that might hold us back. Understanding the psychology behind procrastination Procrastination plagues many people. It's a common problem that often leaves people feeling frustrated with themselves. But what if we could understand the psychology behind procrastination and use that knowledge to overcome it? At its core, procrastination is linked to negative emotions like stress, anxiety, and fear of failure. By avoiding or delaying a task, we temporarily alleviate these unpleasant feelings.  However, this relief is short-lived and ultimately only creates more stress. By being aware of this pattern and learning how to manage negative emotions, we can break free from the cycle of procrastination and become more productive. Breaking down the task into small, manageable parts When faced with a daunting task, it can feel overwhelming even to know where to start. However, the key is often found in breaking down the task into small, manageable parts. By dividing larger projects into smaller, more achievable tasks, we can focus our attention and energy on one step at a time, leading to a greater sense of progress and accomplishment.  Whether working on an estimate on a project or a personal goal, taking a moment to map out the necessary steps and tackle them individually can make all the difference in achieving success. So next time you're feeling stuck, take a breath and ask yourself: what's the next small step I can take? Using rewards as incentives to get started Sometimes, all it takes is a bit of extra motivation to get things done. That's where rewards can come in handy as an incentive to get started. Whether it's a tasty treat, a fun activity, or even some well-deserved relaxation time, a reward can give you that extra push to begin tackling a task.  Studies have shown that implementing a reward system can increase productivity and help you achieve your goals faster. So why not give it a try? Choose a reward that suits you and your task at hand, and see how much more motivated you feel to get started. Finding out what your specific procrastination triggers are Have you ever found yourself staring blankly at your to-do list, unable to muster the motivation to tackle any tasks? Identifying your procrastination triggers can be the key to overcoming it. Maybe certain types of tasks are more daunting to you, or you get easily distracted by social media or other forms of entertainment. Whatever it may be, pinpointing your personal procrastination triggers can help you create a strategy to combat them and finally get back on track.  Developing a plan and timeline for success Success isn't something that happens overnight. It requires careful planning and a well-thought-out timeline. Whether it's starting a business or working towards a personal goal, having a plan in place is essential.  The first step in creating a successful strategy is to define your goals and establish the time frame you want to achieve them. It's crucial to take the time to map out the smaller steps needed to reach your ultimate objective and assign realistic deadlines to each of them. Along the way, it's also essential to evaluate your progress regularly and make necessary adjustments to your timeline or plan. With a clear strategy and timeline in place, success is within reach. Planning to avoid distractions or delays In our fast-paced world, distractions seem to lurk at every corner. The constant buzz of notifications, the temptation to check social media, and the never-ending stream of emails can quickly derail our day. The solution? Planning to avoid these distractions and any potential delays. By setting clear goals, creating a schedule, and arranging your workspace in a way that helps you focus, you can reduce the distractions that come your way and stay on track toward achieving your objectives. With some forethought and discipline, you can turn your day from one filled with distractions and delays to one of focused productivity. Letting go of perfectionism and allowing yourself to make mistakes Perfectionism is a trait that can drive people to do their best, but it can also become an obstacle to personal growth. The constant pressure to achieve flawlessness can lead to fear of failure and deflection, ultimately limiting your potential. Accept that mistakes are a natural part of the learning process, and they give us experience and insight that we wouldn't get otherwise. Embracing imperfection requires a shift in mindset, but by acknowledging our flaws and being willing to make mistakes, we can move forward with confidence and creativity. How can this improve your Leadership Skills? Construction Companies have two basic leadership styles: wait until an urgent situation occurs and react like a firefighter or develop business processes that allow the company to respond calmly and direct resources and solutions to the issues like a traffic police officer on a sunny afternoon. Firefighter Leaders - Operate in one of three mental states: Going into a crisis Coming out of crises Waiting for a crisis Traffic Director - Leaders operate in one of four mental states: Preparing for new projects to appear Preventing projects from becoming an emergency Planning for implementation of current and future projects Empowering others and directing the flow of projects to completion and billing The Graph Below - Is similar to the diagram shown in The 7 Habits of Highly Effective People Habit 3: Put First Things First, by Stephen R. Covey, to demonstrate this principle. As illustrated in the Time Management Matrix above, we spend our time in one of four ways. This matrix defines activities as Urgent / Not Urgent / Important / Not Important.  In conclusion Ultimately, it is essential to remember that there is no one-size-fits-all approach to overcoming procrastination. People are inherently different and have different needs and motivations regarding goal setting and habit formation. The key is to be patient with yourself and accept that change takes time. By determining which tasks are the most important to you and your construction business and scheduling your day based on those criteria, you can ease the pressure caused when you have a long list of activities to take care of. If bookkeeping is on your list, call me and let me know how I can help. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected].

This Podcast Is Episode 561, And It's About Easing Your Back Office Burden One Payroll At A Time As a construction business owner, you have a lot on your plate. You need to manage your employees, oversee projects, ensure compliance with regulations, and keep your clients happy. Amidst all this, you may be tempted to handle your payroll to save costs and maintain control.   At face value, it seems like a great idea. If you're a small business owner with just a few employees, you probably think hiring a payroll specialist is an expense you can avoid.   You feel that you can handle it yourself. You intend to keep your staff paid right and on time. What could go wrong, right? Well, lots, actually. And before you know it, it's now a costly mistake, and you need to spend more money to make it right.   Why doing your own company payroll is not a great idea:   1. Time-consuming   Payroll processing is a time-consuming task that requires attention to detail, knowledge of tax laws, and expertise in accounting. As a construction business owner, your time is better spent growing your business and focusing on your core competencies.    If you don't have a finance background, you'll likely spend a substantial amount of time calculating employees' work hours, computing taxes and other deductions, creating payslips, processing, and filing.   And even if you have a bit of a background in bookkeeping, are you sure you want to spend your precious time doing these tasks instead of focusing on the core aspects of your business?   By delegating payroll processing to a professional, you can free up time for strategic planning, marketing, and business development.    2. Risk of errors    Payroll processing involves complex calculations and compliance with federal, state, and local regulations. Any payroll mistakes can result in penalties, interest, and legal liabilities. By outsourcing payroll to a professional, you can reduce the risk of errors and ensure compliance with regulations.    A payroll specialist knows the ins and outs of taxes, overtime, contributions, sales commissions, and bonuses. The bottom line is that another professional can do it better, and while they're at it, you can get back to doing what you do best– like growing your business!   3. Costly mistakes    Payroll mistakes can be costly for your business. For example, you may be subject to penalties and interest charges if you fail to withhold the correct taxes. Similarly, if you misclassify employees as independent contractors, you may be liable for back taxes, penalties, and legal fees.   Sure, you can learn about relevant tax adjustments and benefits procedures if you want to. But then again, you'd be spending more time educating yourself, not to mention the possibility of making costly mistakes. Payroll processing requires expertise in accounting, tax laws, and compliance regulations. As a contractor, you may not have the time or resources to keep up with the latest changes in payroll regulations.    A professional construction bookkeeper can help you avoid costly mistakes and protect your business from financial risks. You can benefit from their expertise and ensure compliance with regulations.     4. It's aggravating   There's no denying that payroll processing can be stressful, especially when you don't know what you're doing. Reduce stress and spend more time on business activities that drive profits and growth. You can also eliminate the risk of burnout and improve your work-life balance.    Better Practices   Payroll is one of those things that starts simply enough. You create your construction business, outsource contractors, or hire part-time crew, and things tick along. It's straightforward and sufficient to keep everything in line at first, but what happens to most companies is that they grow!   This is a great thing, but it also means that payroll becomes more complicated. As such an essential aspect of your business, payroll must run smoothly. Getting paid is, after all, the primary reason that most people come to work.   Still not quite ready to outsource? How about try this approach:   1. Simplify   Keep things as simple as possible wherever you can. One way to do this is by switching to direct deposit. This will drastically reduce the work put into issuing and tracking payments.   2. Schedule   At least once per year, and preferably more, it's crucial that you (or your payroll professional) take some time to create a payroll calendar. Highlight any dates that may cause a lag in your employees' pay.   It will also allow you to plan for any potential shortcomings or other issues arising from holiday closures or oddities in the calendar. Making a payroll mistake is a surefire way to lower employee morale, so it's essential to be aware of these dates ahead of time.   3. Automate   The computer can be your best friend. Finding the right software to help with payroll can automatically take care of simplifying and scheduling, freeing up valuable time for your payroll specialist.   It also eliminates the potential for human error in payroll processing and creates a crystal-clear picture of your finances. Many options are available these days that are easy to learn and straightforward to maintain.   4. Brush up   Payroll rules and regulations can change frequently and for any number of reasons. It's important to stay informed on any changes in your region and proactively plan for them.   A lot of time can go into correcting a payroll error, so know what's happening to avoid this. With more and more employees being hired remotely, it's also important to be aware of any regulations on those geographically located in a different area from your business.   5. Get help   If hiring a full-time in-house payroll staff is impractical, you can always come to us and let us take care of your payroll. Whether you need weekly, fortnightly, or monthly processing, our team is flexible enough for you.   As construction accounting specialists and payroll experts, we can make your employees happy with timely and accurate wages, maintain tax compliance, and significantly ease your back office burden.   In conclusion   Payroll is most effectively managed when it's simple, straightforward, and coordinated. When it starts getting tough to keep it that way, it's likely a sign that your company has grown and you're ready for more robust support.   Outsourcing payroll to a construction accounting professional can save time, reduce errors, avoid costly mistakes, benefit from expertise, and reduce stress. This will allow you to focus on growing your business and achieving your goals. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 560, And It's About Scaling And Adapting Business Strategies Amid The Cost Of Living Crisis When you're ready to take your construction business to the next level, you might start thinking about "scaling." No, it's not just a fancy term for growth; it's about doing more with less. Scaling is about increasing your revenue without proportionately increasing your resources—fancy yet practical, right? It's like sending an email: your effort is the same whether you send it to 100 people or 100,000.    But, as of now, we also probably feel like we are in the thick of a cost-of-living crisis. This challenges entrepreneurs and is a nerve-wracking time for many small construction business owners.   If you've had sleepless nights worrying about how you'll pay your suppliers or support your staff, you're not alone. You've likely already considered where to cut costs, but it seems impossible when suppliers raise prices.    But don't despair just yet! There are strategies to stretch your dollar further, and they're not always about trimming expenses. What are the tricks to scaling and adapting effectively? Efficiently using your resources without emptying your pockets, the MAP way (Marketing-Accounting-Production). So, how can you make this happen? Let's get into it. 1. Look at ways to bring or retain more money into your business. Knowing exactly where and when money is coming from your business, is the first step to seeing where you can save costs. You could be paying for services you don’t even use or simply aren’t worthwhile. Take it one step further and ask yourself if the products or services you pay for add value to your construction business. Arm up your marketing efforts Spending more when you're looking to save might seem counterintuitive, but investing in marketing can yield profitable results in increased sales. There will be short-term costs, but effective marketing can substantially contribute to a positive cash flow in the long run. Understand your clients During uncertain times, empathy goes a long way. Understanding your customers' fears and concerns can inform strategies to drive sales. Depending on their situation, you might be able to offer more services or adjust prices without adverse reactions. As inflation rises and suppliers hike prices, it's crucial to respond accordingly or risk bearing the brunt of the impact. 2. Do what you can with the things under your control while monitoring external influences. Resist the urge to slash expenses indiscriminately. Cutting back in the wrong areas might hinder the growth of your construction business. Make it a priority to retain your staff if you have any, exploring other places to trim costs or increase revenue instead. You can't control everything about your business, but you can stay aware of external factors that might impact buyers' behavior. Keep it simple, keep it clean Don't get lost in complexity. More complexities equal more chances for things to go wrong, time wasted, and resources spent. If you're scratching your head trying to understand a process or a tool, chances are, so are your employees and customers.  Keep it simple to keep control and keep everyone on the same page. Monitor your competitors Do you know how competing businesses cope with the cost of living crisis? Can you see what kind of strategy they've adopted? Understanding their strategies can provide insights about your place in the market and potential customer perceptions. 3. Embrace technology. The daily processes and transactions involved in operating a general maintenance and repair contracting business can mean long hours of repetitive tasks and occasional oversights due to human nature. Automating these tasks can result in significant savings in resources and eliminate mistakes. However, the key is knowing which tasks should be automated and which ones warrant staff intervention and guidance.  Automation is your friend The future is here, and it's all about automation. Some tools can take care of your administrative tasks, saving time and effort. From invoicing to project tracking, automation can streamline your process, making your construction business more efficient and leaving you with time and energy to spend in other areas. Check the activities you perform regularly and explore whether there's a tool that could automate them.  Manage your receivables effectively Nobody enjoys chasing after debts, yet doing so can significantly boost your business, especially in challenging times. Here are some ways to streamline the process: Adopt direct debit systems like for invoice collection. Enable invoice reminders via your accounting software. Consider asking clients for an upfront deposit or partial payment. 4. Use the situation to your advantage. There's a silver lining in every cloud. Reduced sales? Use this time to review and streamline your business processes. Examine the reasons for changing sales patterns and adapt accordingly. Rely on the data Take out the guesswork and let data guide your decision-making. We're in the information age, and there's a metric for nearly everything. Know what's working and what's not by looking at how customers engage with your website or which marketing campaigns are most effective.  Making decisions based on solid data is more critical than ever. Use actual business data, not assumptions, to create your strategies. Don't create an approach based on what you think is happening, but on what is actually happening. As the saying goes, "The numbers don't lie". Before making decisions, know your numbers! Your data remains a reliable constant in an unstable economic and consumer landscape. Accurate, in-depth financial data is crucial to making informed business decisions. Working closely with your accountant is a game-changer A good construction accountant can provide the right solutions at the right time. Their expertise in your business can be instrumental in improving its financial health. They can help interpret the numbers, understand the situation, and guide your future steps. Final thoughts  Scaling your construction business is all about smart growth. It's growing your revenue without increasing your expenses at the same rate.  Imagine increasing customer retention with minimal effort from your end. It's possible if you scale your offerings. Consider automatic renewals, subscription models - maintenance work if you're a plumber or repeatable pricing packages. Not only will these save you time from manual work, but they'll also boost customer loyalty. The secret to effective scaling and adapting lies in maintaining simplicity, embracing automation, making data-driven decisions, and fine-tuning your offerings.  It's not just about working hard but about working smart. For further support navigating your construction business through the cost of living crisis and beyond, please contact us. We're here to help you. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 559, And It's About Mastering Tone For Construction Company Connections Mastering the right tone is critical when connecting and communicating with people in the construction business. Whether you're writing an email, making a phone call, or meeting in person, how you present yourself can make all the difference in building strong relationships with clients, colleagues, and partners.  Research suggests that as much as 93% of communication is non-verbal, so it's unsurprising that the tone and meaning of emails and messages are misinterpreted as much as half the time. For small construction businesses, email is frequently the preferred way to communicate with new leads, customers, and employees – but if you haven't mastered your tone, the meaning of your message may be lost. In the worst-case scenario, you may even unintentionally offend your audience. Follow these tips to improve your tone when writing emails or other business communications. 1. Adapt to your audience Tone reflects the writer's attitude toward the reader, so you'll use a different tone depending on whether you're asking a bank officer for a loan or your client to respond to your change order question. Your relationship and purpose will help you decide on your word choices, which might be serious and formal, or relaxed and fun. Using active voice will bring your reader right to the point. Taking care always to use courteous language will keep them on the side.  2. Be clear and concise Avoid using jargon or technical terms such as' load-bearing walls' or' footings' that may not be familiar to everyone you're communicating with. Instead, try to use plain language that is easy to understand and gets your point across effectively.  If it's in written form and you doubt how an email may be interpreted, hit save and return to it a day later – or ask a colleague to read it and provide some feedback. These additional tips can help you write emails that get read and avoid offense or confusion: Avoid using slang or sexist language Remove any unnecessary words Be appropriately respectful of subordination Be gracious (please and thank you. You go a long way with creating the right tone, which will keep you from being too abrupt, especially if your email is brief) 3. Be professional and respectful Use proper grammar and spelling, address people appropriately in all your interactions, and avoid confrontational or aggressive language.  What to do when delivering a negative message: The tone becomes a more significant challenge if your message contains terrible news. After all, there is no way around creating unpleasant feelings in some circumstances. You can, however, avoid insult to injury by following these tips: Thank the reader for their message, briefly explaining why you cannot approve a request. In this case, passive voice is preferred because it helps neutralize the message. Take care to avoid personal attacks. You can maintain a professional tone by deferring to policies rather than personal feelings about an event or situation. Avoid the "bright side." Listing any perceived benefits can come off as uncaring by downplaying the emotional impact the reader may experience upon receiving the message. Drafting a style guide this January for a fresh start will help make your construction company's "tone rules" clear to staff, help build greater brand recognition with a consistent voice, and help you avoid the wrong tone in your communications. Start by defining your tone. Is it casual, fun, formal, serious, or quirky? Come up with five words that describe the tone of your brand. Then, list words that may and may not be used in your marketing emails. To illustrate exactly what you're aiming for with tone, include some sample text in your guide – perhaps some of your company's collateral or examples of marketing emails you'd like your construction business to emulate. Selling your services to homeowners involves art and creativity. Words are powerful, and visuals are captivating; combine them with your preferred business tone to make a fascinating webpage to attract the right audience. You can also learn a lot by looking at your competition – pay attention to where they advertise, how they present their advertising, and the tone they use in their written material. Subscribing to competitor newsletters or regularly checking their websites is a good way of keeping up-to-date from a distance. Remember, through it all, being an active listener is the key. One of the most valuable gifts one can give another person is to listen with empathy and understanding and let them speak until they are finished. Final thoughts Being personable and approachable in connecting with others is essential. Don't be afraid to inject a little bit of personality or humor into your messaging, as long as it's appropriate and doesn't detract from the overall professionalism of your communication.  Whether you're communicating with employees about company issues, hoping to negotiate a rent reduction with the landowner, or changes to credit terms to your banker, by mastering the tone in your construction business communication, you can build stronger relationships, avoid misunderstandings, and ultimately achieve tremendous success in your work. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 558, And It's About Practical Tax Season Tips For Construction Business Owners Tax season can be a bit overwhelming for construction business owners, especially with many things to keep track of in our industry. But don't worry; we're here to help! We know that construction businesses have unique tax considerations that can be tricky to navigate, such as complex accounting and bookkeeping challenges and issues related to payroll and sales taxes.    That's why staying informed about the latest tax laws and regulations is essential, as well as working closely with a qualified construction accountant and tax professional who can guide you through this process and ensure you comply with all applicable tax rules and regulations.    Preparing for tax season is a year-round endeavor. Tip number one for construction company owners is to update monthly financials using a streamlined software or cloud-based system.   This way, come tax time, everything you need is in one place. Well-organized small businesses are better positioned to minimize tax bills while avoiding missing or inaccurate information penalties.   Here are four more ways to take the stress out of tax time and maximize your return. Know your credits and deductions. Small businesses typically benefit from a wide range of tax credits. From special allowances for research and development to programs that supplement wages for student employees and apprentices, knowing which credits apply to your business can save you a tax bundle. It's also essential for business owners to be savvy about deductions. After all, you want to keep as much of your hard-earned revenue as possible. Often-overlooked items you may be able to deduct include: - Seminars, classes, or conventions you attended to improve your professional skills; - Unused inventory that you've donated to charity (an excellent reason to consider donating your overstock rather than paying for storage) and - Capital assets, such as office furniture, computers, and equipment. Speak to your accountant about the deductions you can plan for each tax year. Be careful about what you claim. If you run your business out of your home, you may be able to claim a portion of expenditures like utilities, insurance, property tax, and rent. But you must keep good records and receipts to justify why you've allocated business costs to your home office. The same goes for home office computers and mobile phone expenses. Tax authorities will want to see how you've separated these assets from personal and professional use when you claim them as work expenses. Want to claim drive time as a work expense? Ensure you submit a log of your business-related mileage to demonstrate how your personal vehicle was used professionally. Don't miss the deadline! This should go without saying, but construction business owners are hit with severe penalties for filing taxes late yearly. Missing the deadline can have a range of negative repercussions, including: - Added interest to amounts owing, plus a late payment penalty; - Losing your claim to a refund; - Loss of credits toward retirement or disability benefits and - Delay of loan approvals (lenders require a copy of your filed tax return to process your application). Seek expert advice well in advance. A survey of small business owners found that a full quarter don't understand their tax obligations. What's more, 27% only speak to their accountant at the last minute, just before the filing deadline. Having trouble? You don't have to go through it on your own again. Set yourself up for success this year by following these four pillars of painless tax preparation: 1. Commit to clean bookkeeping from day one Year-round, effective bookkeeping is the best way new business owners can minimize tax season stress. With the wide range of accounting software, there's no reason to rely on time-consuming manual methods that leave room for error. All-in-one options like Xero and QuickBooks automate your most important bookkeeping processes, including: Tracking expenses; Tracking sales and income; Creating and sending invoices and Managing inventory. With your financial records in one place and up-to-date, you're better positioned to maximize your refund while avoiding penalties associated with incorrect or incomplete tax returns. 2. Capture every business expense Each year, 21% of small business owners claim less than half of their business expenses, primarily because they don't have a reliable system for documenting expenditures while on the go. Without carefully logged receipts, entrepreneurs must forfeit valuable tax deductions, sacrificing cash they could funnel back into their business. Cash in on claimable expenses using a mobile app to record receipt data, track mileage, and generate expense reports. As a bonus, many of these tools sync with your all-in-one accounting software. 3. Separate business from personal Right from day one, small business owners should divide their personal and business expenses. Differentiating between the two will make it much easier to claim deductions on your tax return – and support those claims in case of an audit. Recommended steps to separate your business and personal finances include: Create a separate bank account for your business, and designate a credit card solely for business purposes (this will help you track expenditures while building up your credit and borrowing power); Never combine business and personal expenses (for example, if you buy printer ink for your home and your business at the same time, ask for two separate receipts); Pay yourself a set salary from your business checking account each month (this will help you determine how your income and the company will be taxed).   4. Always consult with an accountant Not sure exactly what you can claim as a business expense? Are you wondering which accounting software to use or how to interpret local tax regulations? Consult with a construction accounting professional to put your mind at ease – well before the filing deadline! In addition to managing the nuts and bolts of tax preparation, regular meetings with an accountant will help you continuously improve construction bookkeeping practices and better understand the financial workings of your small business. Final thoughts  Those organizational strategies you commit to now will promote positive relations with your local tax authorities – and the long-term financial health of your construction company. Technology has made it easier than ever for small business owners to file for themselves, but when it comes to thoroughness and accuracy, nothing can replace the expert advice of an accountant. Consult a business professional specializing in construction bookkeeping and accounting well in advance to ensure you get the most out of your tax return and that your documentation is complete. Conversely, accounting fees are often tax deductible, and I do not charge phone chats/consultations. Don't stress too much! Let me know how I can help you. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 557, And It's About Becoming A Better Project Manager By Improving Communication Skills In the construction industry, communication takes many forms, including written reports, drawings, emails, and face-to-face meetings. Each form of communication has its own set of advantages and disadvantages. For example, written reports and illustrations provide a permanent record of information, but they may not be as effective in conveying complex ideas as face-to-face interactions.    Understanding how construction business owners and project managers, like you, if you do both (a one-person company), adapt to their environment, and facilitate procedures could make your company run smoother because there is no money in workplace chaos.   However, the thinking patterns and comfort zone of a well-trained staff or subcontractor are defined by the following: If it isn't broken, how can I ensure it stays that way? When it fails, I fix it, then I look for the root cause and work on that I maintain it so that it does not deteriorate into an emergency Everybody is my client; I work for the internal and the external client When I have to fix things, I must not have done my job right in the first place I gain recognition from knowing things are running smoothly and predictable My clients are important; the world revolves around them I don't know everything, so I ask lots of questions to uncover problems and opportunities I delegate responsibility to those who can handle it, and I guide them to success I read instructions because somebody else learned it the hard way and wrote about it Everything under my control is my responsibility; therefore, I empower myself to fix it Construction Project Managers loathe unpleasant surprises, so I seek to eliminate unpleasant surprises When a severe problem arises, I work with the team to develop a plan before it gets out of control Finally, I don't reinvent the wheel; I find who is doing things right and copy their success Effective leaders are conditioned to avoid emergencies by being proactive and having systems to deal with emergencies. After the crisis has passed, they are ready to evaluate the emergency's root cause and implement change in the system to avoid a repeat performance. That's why excellent communication is crucial in the construction business workplace. With so many moving parts and various stakeholders involved, clear and concise communication is necessary to ensure everyone is on the same page and working towards the same goal. Poor communication can lead to costly errors, delays, and safety hazards.  To become a better leader and improve communication in the construction business workplace, it is essential to establish clear lines of communication and ensure that everyone understands their roles and responsibilities.  Regular meetings and check-ins can help keep everyone informed and up-to-date on project progress and any changes or issues. It is also important to encourage open and honest communication, where team members feel comfortable sharing their concerns and ideas without fear of retribution. This can help to foster collaboration and creativity, leading to better outcomes for everyone involved.  One way to improve and encourage collaboration and clear communication in your workplace is by practicing simple ways to improve it: 1. Always maintain control of your emotions in stressful situations Leaders are often called upon to make difficult decisions under circumstances that are not ideal. If you can keep a cool head and calmly make decisions in a crisis, the people around you will begin to recognize you as the go-to leader when new or challenging situations arise. 2. Remain focused on the conversation at hand When you are in the middle of working on a project, it is easy to get tunnel vision that prevents you from focusing on what is happening around you. When someone engages you in conversation, always try to stay focused on what they are saying.  Occasionally, repeat your understanding of what the other person just told you. Not only will this behavior make them feel you value their input enough to listen, but it will also increase their respect for you as a leader/coworker. 3. Pay attention to your body language It is important to remember that your body language can be just as essential as what you say. If you are in the middle of a conversation with someone and they see you furrowing your brows or not making eye contact, they could walk away with the impression that you are disinterested or angry with them. Try to maintain a neutral expression when conversing with your staff or coworkers. 4. Do not interrupt People approach you when you are a leader because you have the answers. However, it can be easy to speak without a complete understanding of what is being asked and provide someone with incorrect information. Always allow the other person to finish their thought and ask their question in its entirety so you can give a thoughtful, helpful answer. 5. Do not make snap judgments when speaking to someone Occasionally, leaders are sought out when someone has made a mistake or poor business decision. If someone you are leading comes to you and admits they have done something wrong, try your best to withhold judgment. Sometimes, this will require you to listen to their side of the story and reschedule a meeting later in the day or week to discuss a more productive course of action. Other times, it may be as simple as asking them for their solution and addressing it from that angle. 6. Be consistent with your feedback Always consistently seek opportunities to offer cheerful and negative feedback when leading people. Many issues in building sites can be prevented by merely mentioning positive behavior when you see it and constructively pointing out negative behaviors as they occur in hopes of ending there. Final thoughts If you are looking for ways to lead more effectively, communicating better is one of the most accessible and valuable skills you can learn. Effective communication will help you gain the trust and respect of individuals around you, one of the most valuable assets you can acquire. Overall, effective communication is essential for success in the construction business workplace. By establishing clear lines of communication, encouraging open and honest dialogue, and utilizing the right communication tools, construction teams can work together more efficiently and effectively to achieve their goals. As we move forward, let's focus on improving our business practices, streamlining our processes, investing in our employees, and, more importantly, ourselves. We can succeed tremendously by providing our team with the necessary tools, training, and support to excel in their roles.    Wishing you a prosperous and successful new year!   PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 556, And It's About Rest And Reset For Construction Contractors And Business Owners To be in business and to remain in business, become a business person! To run a 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 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.   To be a businessperson, you have to make an effort to become something of an 'all-rounder,' not just a specialist player. You can offer outstanding goods or services, but if you don't develop sound business systems, you are not a fully rounded businessperson, and your business will be in danger of failing.   Having a system in place is your key to enjoying a stress-free holiday. There's no need to be overly anxious about your construction business during this period (this week, between Christmas and New Year, for instance) as long as you have a few basic precautions. It's never too late to start building a system; you never know when you might need a break for a momentous occasion or your health and well-being. Back up all your important documents and information and store the backups in a secure place off-site. It also makes sense to take this one step further and check that you can restore your systems from your backup. Arrange for a responsible staff member or someone independent of your business to monitor your premises (if you have one). Alternatively, install security systems if you haven't already: fire alarms/sprinkler systems and break-in monitoring by a security firm. This is something to consider if you haven't done this yet. It's also good to ensure you have appropriate insurance coverage and that your insurance policies haven't lapsed. Practice the Art of Delegating - yes, this is possible even if you're a one-person company. You can outsource small tasks and hire a specialist for a more specialized job in many ways. A virtual assistant can communicate and respond to inquiries, emails, and social media. A construction bookkeeper can take care of your last bits of receipts and payroll. You can also: Plan for contingencies. What would you do if staff fell ill? Who should be contacted if there are any unexpected calamities? Discuss your team's concerns and your own. Pick the right people for the right jobs. This is critical if you want your construction business to continue to operate well in your absence; you'll be relying on your staff while you are away. It is essential that you prepare them. Ensure everyone is familiar with the contingency plans – discuss, revise, and practice them before departure. As a construction business owner, taking time away from work is essential. But worrying about whether staff are meeting deadlines and suppliers are happy translates to more stress and less time enjoying your holiday. With some staff communication and planning beforehand, you needn't worry that your business won't be able to cope in your absence. If you can't switch off from work mode or something urgent pops up, technology can be a great way to check in and ensure things are ticking along. Is it time to start over? For those of you who are using this week to rethink your administration and paperwork processes, I might be able to help you clear some bookkeeping blunders. Sometimes, a contractor's QuickBooks (or bookkeeping) file is a hopeless mess, and fixing it would cost more than simply starting over would cost. Here is a list of warning signs that can help you decide: Nothing inside QuickBooks makes any sense to you. None of the Financial or Job Costing Reports make sense to you. Your QuickBooks bank or credit card balance differs entirely from your last Bank Statement.  Worse yet, your bookkeeper puts all the credit card statement charges in bulk using Journal Entries. Time flies when everyone is busy. Start now and review your records for the following items: Missing Federal Tax IDs and requesting the W-9. Have all your employees verify their pay stubs for the correct address. Check Apartment numbers and zip codes. Have any of the neighborhoods been annexed into the city? Year-End Accounting Clean Up Your Tax Accountant will send your booklet with what they want for records.  What are the loose odds and ends missing for this year? Do you have a formal Accounting System? Do you need to clean up the Accounting beyond the last few months?  Do you have bank statements?  Can you find all your receipts? Tax Accountants do "workarounds" to file your annual taxes. At some point, the Tax Accountant may refuse to clean up and deal with the Lack of Good Records or Messy Records. Tax accountants will have more clients who want their taxes done as the economy improves.  A good tax accountant can do Many Simple or Less Complicated Returns in the same amount of time it takes to do a Messy, Complex Business Return. More Tax Returns become more complex than is necessary because the documents or lack of records make them messy and complicated to deal with.  A tax accountant will assume you gave them everything you had. In reality, you gave The Tax Accountant only what You thought The Tax Accountant needed versus all of the records that might save you additional money in taxes.  A sound accounting system will help you decide better what to buy and what jobs to accept. When did you afford to take payment plans from your clients? When is the need or ability to raise your prices? Only you can decide if the lack of good records was worth the low price. Final thoughts If you're taking time over the holidays, really take time. Don't take time off but then spend that time constantly checking for work-related texts and emails or attending meetings. Put your cell phone away. Stop checking your email. Set an outgoing email that lets people know when you'll respond to their messages, and change your voicemail to note your days off. That way, you can rest, relax, and enjoy your break. As the year ends, whether you are resting or restarting, don't wait until the last minute to get your accounting in order - start early to avoid any potential issues or penalties. Let me know if you need help with your year-end accounting. Contact us to find out how we can help you bring more balance to your business. The New Year is three days away. Are you ready? PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode 555, And It's About The Benefits Of Outsourcing For Construction Company Owners Outsourcing can offer a range of advantages for small construction businesses in today's competitive market. Not only does it reduce costs and free up valuable time for owners to focus on growing their business, but it also provides access to skills and expertise that may be unavailable in-house. Small construction businesses can streamline operations, increase productivity, and scale faster than ever by working with external professionals or firms who work in certain areas.    Because a small business focuses on survival, you pay much attention to the bottom line. This makes much sense, but it also leads to being seriously overworked.   Contractors are under increased pressure to cut their prices to get enough work. And that means they need to reduce costs. New technologies and approaches in cloud computing for construction accounting give forward-thinking contractors a fantastic ability to get more for less -but in most cases, contractors' heads are still stuck in 1990, thinking they have to do everything themselves.   Here are some benefits of outsourcing for small businesses and how they can help your business succeed. The advantages of outsourcing for small construction businesses As a small business owner, you want to ensure that every aspect of your company is running smoothly. Outsourcing can benefit your business, including cost savings, access to special skills, and increased efficiency. By outsourcing specific tasks, you can free up time and resources to focus on core business functions. Outsourcing can also help you keep up with the latest industry trends and technologies, giving you a competitive edge in your market. So, if you want to grow your small business, consider whether this is a viable option to help you succeed. 1. Identify which services and tasks are suitable for outsourcing. When outsourcing, you must carefully consider which services and tasks are suitable for delegating to third-party providers. Factors such as the nature of the work, the level of expertise required, and the cost-benefit analysis must all be considered. For example, routine administrative tasks like data entry or customer service may be easy to outsource. Still, more complex tasks like software development or legal assistance may require a more strategic approach. Ultimately, outsourcing can offer numerous benefits to construction companies, including cost savings, improved efficiency, and greater flexibility. Still, it's essential to identify the right areas to outsource to magnify these benefits. 2. Review the cost-benefit of using a freelancer or third-party service provider. When outsourcing specific tasks, businesses have two options: hiring a freelancer or contracting a third-party service provider. Each option has pros and cons that business owners should consider before deciding. On the one hand, hiring a freelancer can potentially save money since they typically charge less per hour than a full-service agency. However, freelancers may not have the same experience or resources as a third-party provider, which could lead to lower-quality work or additional costs down the line. On the other hand, contracting a third-party provider may be more expensive upfront, but they often have a team of experts with years of experience and access to top-of-the-line technology. Ultimately, the cost-benefit analysis will depend on each business's needs and the outsourced tasks. 3. Discuss different payment options when hiring a freelancer. When hiring a freelancer, one of the critical things you must consider is how you will pay them and what payment options are available. Fortunately, several payment options can help you pay your freelancer easily and securely. These options include paying through platforms like PayPal or Stripe, using wire transfers, paying with credit or debit cards, or even choosing to pay by cryptocurrency. Each payment option has advantages and disadvantages, so choosing the one that suits your needs and budget is essential. Whether hiring a freelancer for a one-time project (like your company website) or on a long-term basis, choose a payment option that provides a safe and hassle-free experience for you and your freelancer. 4. Evaluate potential contractors' quality by researching their past work. When finding the right contractor for your projects, researching their past work is crucial in evaluating their quality. You can review their portfolio of completed projects and read reviews from previous clients to gauge their satisfaction with the contractor's work. It's also important to check if the contractor is appropriately licensed and insured and to ask for references from previous projects. By taking the time to research potential contractors thoroughly, you can ensure that you're working with a reliable and qualified professional who will deliver high-quality work on time and within budget. 5. Learn how to manage an outsourced team effectively for maximum results. As companies expand and seek cost-effective solutions, outsourcing has become a widely accepted practice in the business world. However, managing a team that is not located in the same office or even in the same country presents some unique challenges. Developing effective communication, delegation, and collaboration strategies is crucial to get the best results from an outsourced team. By establishing clear goals, providing regular feedback, and fostering a culture of transparency and accountability, you can ensure that your outsourced team is fully engaged and aligned with your business objectives. With the right approach, managing an outsourced team can increase your company's productivity, innovation, and growth. Outsource Your Construction Bookkeeping Anything not related to your core construction business is an outsourcing candidate. When I say, "outsource your contractor's bookkeeping," I do not mean turn it all over to us or any other contractor's bookkeeping service because this never seems to work well. No, I'm talking about outsourcing specific bookkeeping services related to data entry, bills, payroll processing, and preparing Quarterly Tax Returns. It is crucial that you keep control of your money. Outsourcing a contractor's bookkeeping is one of the ways to avoid bookkeeper embezzlement. Never let an outsider pay the bills, print checks, and authorize payment for payroll or any tax payments. I suggest looking at every part of your internal contractor bookkeeping service and asking yourself a simple question: is this a unique and critical part of our construction company, and is it something only we do? If so, it stays in-house and needs the brightest minds you have working on it. If not, it is a candidate for outsourcing, and you need to look at it more closely. Outsourcing a competent construction bookkeeper is a sound business decision as it gives you access to expertise and guidance you might not otherwise have, and it frees up your time and money to take advantage of other business opportunities.  In conclusion Outsourcing can be a cost-effective and efficient way for construction business owners to manage their administrative tasks and focus on growing their business. It is essential to carefully consider each potential service provider's advantages and disadvantages to ensure they meet your needs. Additionally, use references and research contractors' past experiences to guarantee that you get the best possible fit. Finally, take the time to manage your outsourced team correctly so that everyone reaches maximum effectiveness in their jobs. Now might be the perfect time to evaluate whether outsourcing suits your business needs. Everyone celebrates the Holiday Season in his or her way. Enjoy, Embrace, Be Glad, Be Joyful, and maybe a Little Sad. No one is up and happy 100% of the time. Do something nice for others. A smile is easy; it’s always with you and FREE. It can be a simple thing. Treating everyone a little nicer will make the day's challenges more manageable. I invite you all to join me in the Celebration of the Holiday Season of Living Well and being Happy.   Merry Christmas to one and all! PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 554, And It's About Managing Work-Life Balance As A Construction Business Owner Wellness is an important aspect of life for everyone, especially construction contractors like you. Given the physically demanding nature of the work, contractors must prioritize their physical and mental health. Proper nutrition, exercise, and adequate rest are all necessary for maintaining a healthy body and mind. Additionally, taking breaks and managing stress can help prevent burnout and promote well-being. By prioritizing your health, contractors can feel better and perform better on the job.   However, maintaining a healthy work-life balance can be difficult for a small construction business owner, as most know. You may work long hours, sacrificing personal time and family obligations to keep your business running smoothly. The duties and responsibilities of running your own business often take priority, no matter how personal pursuits are essential for your well-being.    But, with the right strategies and mindset in place, it is possible to strike an effective balance between working hard on your business and making time for yourself.   Set boundaries   As much as we might love our jobs, we must remember that our mental and physical health always comes first. One of the best ways to ensure we care for ourselves is by setting boundaries for our work schedule. For example, taking regular breaks throughout the day can help us avoid burnout and increase productivity when we return to our tasks. Or, if we know that specific tasks require more energy and focus, we can set aside clear days to tackle them.    Create a schedule that allows you to dedicate specific hours to work and specific hours to personal time. Avoid checking emails or answering work-related calls during your personal time, and encourage your employees to do the same.    By sticking to a schedule that puts our well-being first, we can remain motivated and engaged in our work for the long haul.   Do what works for you   Ever feel like you have a million things to do and not enough time in the day to get them done? Trying to keep track of everything can be overwhelming without some system in place. That's why it's important to identify what works best for you and create a plan that keeps you on track and productive. Maybe you're a fan of to-do lists, or maybe you prefer to use a digital calendar. Perhaps you find that breaking tasks down into smaller, manageable steps helps you stay focused. Whatever it is, take the time to figure it out and stick with it. Your future self will thank you for it!   Sort out what is important and what is urgent   We often juggle multiple tasks and try to complete them all at once. This approach can often lead to suboptimal results or burnout. A better system is to sort our tasks based on their importance and urgency, focusing on the most important or urgent tasks first. This way, we can ensure that we are progressing in the right direction and achieving our goals.    Identifying the most critical and urgent tasks may require time and effort, but it will pay off in the long run with increased productivity and reduced stress levels. So, next time you feel overwhelmed with a list of tasks, take a step back.   Learn to delegate   As much as we all might like to think of ourselves as superheroes who can handle anything and everything, the truth is that we're all human. Sometimes, even the most capable among us need a little assistance, and that's nothing to be ashamed of. Knowing when to delegate tasks can be one of the most important skills you can develop as a leader or even a responsible adult.    Knowing when to ask for help – whether from family members, friends, or co-workers – can save you time, reduce stress, and improve the quality of the result. So, if you feel overwhelmed by a project or task, don't hesitate to ask for help. It might just make all the difference in the world. This will help you manage your time more effectively and allow you to enjoy your personal life.   Rest   It's easy to forget the importance of rest and self-care. But the truth is that getting enough sleep and practicing activities like yoga or meditation can be crucial to our overall health and well-being. A good night's sleep can help boost our mood and energy levels, and it's also been linked to a reduced risk of developing chronic health conditions.    Similarly, self-care activities like yoga or meditation can help us feel more relaxed, reducing stress and anxiety. So, if you've been neglecting your sleep or self-care routine, now is the perfect time to prioritize them. Your body (and mind) will thank you for it!   Make time for family and friends   Yes, I have to mention this! It's easy to get caught up in work and forget to set aside time for the people we care about. Not only does it help us avoid burnout, but it also strengthens our relationships with those we love. Whether it's a weekly family dinner or a monthly game night with friends, committing to these moments of connection can profoundly impact our mental health and overall well-being. So, next time you feel overwhelmed by work or life, remember the people who matter most. They'll be there to lift you when you need it most.   Final thoughts   Take the steps necessary to establish successful systems for yourself and reap the benefits! Whether that means setting boundaries, delegating tasks, or even taking time off to spend with family and friends, design a process that works best for you. This works to your advantage, especially during the holiday or when loved ones need you the most.   Achieving a work-life balance as a business owner in the construction industry is an ongoing process. Continuously evaluate your schedule and priorities to ensure you're making time for work and personal activities. It's important to remember that balancing work and life should be a priority – so don't forget to take care of yourself as you continue to strive for success! You deserve it. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 553, And It's About How To Avoid Year-End Construction Bookkeeping Chaos As the year comes to a close, it's important to start thinking about your bookkeeping tasks to ensure a smooth transition into the new year. Deadlines are fast approaching, but it doesn't have to be stressful.    Have you given your bookkeeper, wife, partner, accountant, or tax accountant the information needed to complete your reports? Accountants need good information to create detailed reports and save money on your taxes.   Here is where the expression "Garbage In Equals Garbage Out" comes into play. It is impossible to create Job Costing Reports when all anyone knows is the deposit amount on the bank statement.     It's the Mad Dash To The End Of The Year as a contractor recently described their Year End Madness to prepare his documents for the Tax Accountant. Are you in this cycle? I have great news for you - it is preventable. 1. Review your accounts:  Make sure all your accounts are reconciled and up-to-date. This includes bank accounts, credit cards, and any other accounts.  In Construction Accounting, not everything is an expense. Not every item, tool, material, or customer enters the Chart of Accounts. In some cases, Class Tracking is helpful, but most of the time, it is used to make up for a poor Chart of Accounts or as a "workaround" for an accounting product not designed to have Job Costing Reports or Cost Of Goods Sold. Giving your bookkeeper only your bank statements and saying "Fix It" – I Want Job Costing Reports, I Want To Know Details is not enough. Doing it the way you have always done it – expecting a different result isn't how it works. 2. Review your files: Go through your year's costs and ensure they are all properly categorized. This will help you with your tax reporting and better understand where your money is going.  One of the most overwhelming parts of the end of the financial year is finding all the invoices, receipts, and reports you need to file your taxes correctly. Pay attention to how easy it was—or wasn't—to find what you needed this past year. Did you have to search 15 different places for all your receipts? Did you have a combination of online and physical invoices? Did you have clearly labeled folders for everything? Did you leave everything for the last minute? If you search high and low for every piece of paper you need, you might want to consider revising your paperwork so it's easier and less time-consuming to manage. Can you keep track of everything through software and apps? Is there technology or equipment that can help you? Is it worth investing in a filing cabinet? The effort you put now into sorting your paperwork will pay off hugely every year when you can quickly and easily find all the information you need. Let's face it; you'll come up against the end of the financial year every year, so you may as well be systematic about it. 3. Collect your receipts: Ensure you have all your receipts from the year. This includes receipts for business expenses, charitable donations, and any other tax-deductible expenses. Every missed receipt that is a business expense is a missed deduction. Bookkeeping is all about tracking the money. Money In, Money Out is just following the checkbooks. Accounting is entering into an Accounting System that creates a Profit and Loss and Balance Sheet for the Tax Accountant to do the Annual Taxes. (Every successful contractor should have a Tax Accountant do their annual tax return) 4. Reflect on your year: The end of the financial year is a perfect time to reflect on how the past year went. Celebrate the big successes, but remember to focus on other victories. Even if you didn't meet your financial targets, did you survive a particularly tough year? Did you manage to pivot your construction business and try a new model? Did you take some risks and learn from them? Did you grow your business or expand your offerings? It's great to have goals for each year and celebrate when you achieve them, but it's also essential to look at where things didn't go according to plan and how you grew from those situations. You may need to refine your business plan if you're not meeting your financial targets or rethink how you arrive at your goals in the first place. Do this before you start planning the year so you can revise your strategies in the future. 5. Plan for the new year: Take some time to plan for the new year. This includes setting goals, creating a budget, and thinking about any changes you may need to make to your bookkeeping processes.  Now that you've reflected on what went well and what went sideways, you can better plan for next year. Research upcoming events and schedule your marketing calendar. Plan to address slow times or busy periods. If you didn't meet your financial targets last year, either change how you set your goals or your strategies for achieving them. At Fast Easy Accounting, we have an entire department, The Project Management Department, that questions every bit of our Contractors Bookkeeping System every day and continually finds new and better ways to improve it and make it more valuable to Contractors like you no matter where you are in the USA Including Alaska and Hawaii.  For clients, we added a document management system that links with many banks and credit card companies across the country (adding more all the time). We still use our original Document Management System behind the scenes. The two companies have figured out how to work together to benefit us and our clients. Change is not always easy, but we are so glad we did. The same applies to you, the construction business owner. As you figure out ways to be more efficient, better pricing, and prove a better product and service, your cash flow and profits will increase massively, which means more money in the bank to operate and grow your Construction Company and more freedom to do the things you want to do with your life! Final thoughts By following these tips, you can ensure that your end-of-the-year bookkeeping is completed accurately and efficiently, giving you a head start for the new year. We are also here to help. We are not here to beat up on you for "How You Have Done It." You know it's messy and missing stuff. We know it, too, and we want to help figure out the gaps.  PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 552, And It's About Why Online Reviews Matter And Ways To Deal With Negative Feedback In today's digital age, online reviews hold immense power and influence over the success of small construction companies. With easy access to social media, Google reviews, and review websites, customers can easily voice their opinions and experiences with your business online. Most people searching for a local construction company - whether they need a plumber, painter, or general contractor, will check their online reviews before deciding.    Positive reviews can help establish credibility, build trust, and attract new customers. Conversely, negative reviews can damage a company's reputation and deter potential customers. Given the importance of online reviews, small construction companies should aim to provide excellent service and encourage satisfied customers to leave positive reviews.   As a small business owner, you must understand the importance of online reviews, as they will impact your brand image, sales, and customer loyalty.   Boost your brand image Online reviews are the first point of contact between your business and potential customers. Positive reviews can improve your brand image and credibility. When customers leave positive reviews, they help build an excellent impression of your brand, which can lead to increased sales and customer loyalty. A study conducted by BrightLocal found that 85% of consumers trust online reviews as much as personal recommendations. So, having a positive online reputation can make a big difference in the success of your small construction business. Improve your sales Online reviews can directly impact your sales. Positive reviews can help you attract new customers, while negative reviews can drive potential customers away. Positive reviews indicate that your business is reliable, trustworthy, and provides excellent customer service. You should encourage customers to leave positive reviews and respond professionally and promptly to negative ones. Gain insight into customer experience Online reviews can provide valuable insights into customer experience, which can help you improve your business. Reviewing them lets you identify areas to improve customer service, products, and business operations. Also, reviews can help you understand your target audience and what they value most about your business. Addressing customer feedback shows that you are willing to take the necessary steps to improve your business, which can enhance your online reputation and attract new customers. Increase customer loyalty Customers appreciate businesses that value their feedback. Responding to customer reviews and addressing their concerns shows you care about their experience with your business. When customers feel heard and appreciated, they are more likely to return and become loyal customers. Ways to deal with negative online feedback/review: Leave the negative review up A negative review doesn't have to be the end of the world. Although customers like to see five-star reviews, they understand that perfection is almost impossible—and probably a sign that something is "too good to be true." In that sense, having a customer or two provide negative feedback gives more credibility to the positive reviews. Customers expect to see a couple of negative reviews. If they're in amongst positive feedback, the negatives won't hurt you much and may increase your legitimacy if handled well. Respond to the review honestly Customer complaints are a way to build trust with your potential clients by allowing you to respond honestly and professionally. Did something go wrong that was out of your hands? Offer an apology and explain what happened. Was there a misunderstanding? Take the opportunity to clear it up. Has the reviewer requested additional information or a solution? Respond online to show what you've done to address the situation. Did the reviewer misunderstand a policy? Explain your policy and invite them to contact you with further questions. Doing so shows readers that you take their concerns seriously and are willing to take responsibility when things go wrong. Learn from negative reviews If you see the same concerns repeatedly in the online feedback, it may be time to review your services. Negative reviews give you insight into areas where your customers feel your business could make changes, so take the time to consider what you're being told. You can improve your offerings or communicate better with clients to manage their expectations. Thank them for their feedback, let them know you're taking their concerns seriously, and explain your next steps. In summary A solid online presence with positive reviews can give you an edge over competitors. It shows that you're reliable, trustworthy, and provide quality work. Encourage satisfied customers to leave reviews on platforms like Google, Yelp, and Facebook. This can help increase the number of reviews and boost your overall rating.  However, remember never to pay for or incentivize customers to leave positive reviews. Make it part of your process to encourage customers to leave reviews by simply asking for them. Monitor and ensure you respond to any negative reviews professionally and promptly. If possible, ensure your responses include an apology, a statement about your commitment to your clients, and a way to continue the conversation offline if further communication is needed. Doing so will show potential customers and clients that you care about their feedback and are willing to take responsibility. It will also allow you to move the conversation to a more private forum if the reviewer isn't happy with your response. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 551, And It's About Recognizing The Value Of Construction Contractors In Our Daily Lives I was taking a moment to reflect on the challenges for the Pilgrims coming to America. They decided to make the journey with no guarantee of success. To build homes, plant crops, and take care of animals. Then, later, everyone chose to move West by wagon train, horse, or on foot. I am grateful for them! I think about my Grandparents and my Great Grandparents. What was life like when they were children? Where did they come from, and how did they get to where they were? The family's oral history seems so inadequate. My father shared so much, but now it looks like so little. Be glad for the simple things we take for granted: Going to the grocery store, deli, or restaurant for dinner Living indoors with electricity and indoor plumbing Driving a car Crossing the water on a bridge or ferry Modern times. I am all for living in the city with the gas station and grocery store just down the street. I appreciate reliable electricity, and tree contractors trim powerlines year-round to help prevent outages. I am grateful for the linemen who repair power lines during a storm so we have electricity.     Please note: The offer does not apply to Outsourced Accounting, Bookkeeping Review, or any Consultation and Training products; you can, however, use it to purchase any course or monthly subscription classes in Construction Accounting Academy   Thank You, Contractors, for going to work so the rest of us can stay home safe.    Thank you to the road crews, police, firemen, linemen, tree crews, plumbers, and electricians who work when the news says "Stay Home" and to all the other contractors and emergency services I have not mentioned. Contractors Make Our Lives Better Contractors build and maintain the things that make our lives better. They built the factories where the factory workers work. The rancher and farmer, whom you don't think about as contractors, construct and repair buildings and fences and maintain equipment. They learn to be jacks of all trades, raise crops and animals, and battle the elements. Heat, wind, rain, snow, forest fires, or grass fires – they see it first—the more remote their location, the more diverse their skills.    Why did you decide to become a Construction Contractor? Fast money, easy work, few hours, or all those reasons? Yes, contractors can make much money in this industry. Fast, however, is a relative term. Definition of Fast Money Collecting a job deposit is designed to lock down the job and buy materials. While using your client's money to start the project is always a good idea, that doesn't mean you have money to party heartily, buy a bunch of tools, or buy that brand-new truck you want.  The money will fly out of the checkbooks with everyday business expenses without extra help.  If you spend your job deposits in this manner, you get into a cycle of "Borrow from Peter to pay Paul." (author unknown) This was a favorite phrase of the '60s and '70s. What do I mean? Using the deposit from the next job to pay for expenses from the last job is a slippery slope to financial disaster. Another common phrase is "Leverage Is Great Until The Stick Breaks."  It's like a child's game of musical chairs. When the music stops, someone is without a chair. The same thing happens when the economy turns, as in 2008. Contractors thought (and hoped) the recession would be a slight dip and everything would return to normal by the summer of 2009. That is not what happened for most construction contractors.  Some construction contractors had lots of work in the pipeline unaffected by the recession. Many were overconfident and thought other contractors had a hard time because they "just didn't know how to run a business." Unfortunately, those same contractors were badly hurt when their pipeline of jobs ran out. Definition of Easy Work Easy work is any job that you know how to do quickly. Preparing Thanksgiving dinner for twenty or more is a simple task for a chef. However, it might be impossible for a college student living in a dorm or shared apartment. Definition of a Few Hours Yes, construction contractors can work a few hours every day. Usually, they work twelve hours or more every day of the week. It is only a few hours to: Take the call Schedule the appointment Meet the client Create the bid Present the bid Collect the deposit Schedule the work Make a material list Pick up the materials Coordinate any employees Go to the homeowner's house or job site As you begin the job: Think, plan, and do the work. Watch out for children and pets. Answer the homeowner's questions. Be polite and make small talk as needed. Keep working at a pace that compensates for any time spent watching out for children and pets or chatting with the homeowner. The homeowner expects work to be completed on time or ahead of schedule, no matter how many interruptions you or your employees have.  End of the day – Clean up the job site so it is ready for use this evening or clean and ready for work tomorrow. Pick up all your tools and materials (mobilize and demobilize) Meet with the homeowner to discuss the rest of the project. Assure them all is going well. Make notes of possible change orders or add-ons. Do not forget to price out change orders. Homeowners remember that unless you agree to a price reduction in writing, you are not obligated to reduce the price. The increase in scope is never forgotten. You Promised To Do [fill in the blank]. If you think any changes are omitted, wait; you will hear a grownup impersonating a preschooler wanting a cookie. Water on the stone is an understatement.   Like most Construction Contractors, you feel like you are waving the money as it goes by. Rest assured, it is true in Washington State, where contractors collect and pay sales taxes. The tax money is just moving through the checking account. Borrowing State and Federal tax money is very bad.  The same applies to payroll taxes, except the company must make a company match for Social Security and Medicare, pay state unemployment insurance and state worker’s compensation, and obtain a contractor’s license, contractor’s liability insurance, bond, and other specialty licenses. The business of being in business as a construction contractor involves: Keeping track of a lot of paperwork Filling out and filing government forms Paying taxes  Financials are essential for filing annual federal taxes, whether you are a sole proprietor, LLC, or S-corp. The individual reports are for the benefit of the construction contractor. Are you making money? Which job? – Did you like that particular type of job? Do you go into any job knowing it will barely break even?  Are you passing out business cards or flyers to the neighbors of your current or past jobs? Are you driving long distances between jobs? Final thoughts You couldn’t change yesterday; you could only review it and think about what you could do today. And how can you have a better tomorrow? Tiny changes can make a big difference. Sometimes, taking a pause is the right decision to make. Money makes the world go round. It is hard to buy gas or groceries with hope and a promise. It is not unreasonable to expect to be paid for your work. Contractors like you bring value to everyone's life you touched. I am rooting for your success and wish you and yours the best in everything that comes your way. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 550, And It's About Becoming A Better Construction Leader By Practicing Generosity If you have been lucky enough to encounter generous people, you understand they have a unique gift for garnering the respect and admiration of individuals around them. When you are a leader, having a positive relationship with the people who follow you is a huge asset you cannot put a price on.    In the construction business, generosity and helpfulness are two fundamental traits that can make a business successful. When contractors are willing to share their knowledge and expertise with others, it creates a sense of community and fosters growth and success for everyone involved. Additionally, when contractors are generous with their time, resources, and even their finances, it can significantly impact the success of other businesses and individuals.    t is the right thing to do and being generous because it is something you value are two different things. If you want your generosity to be compelling, it must come from a place of sincere care and concern for those you lead. Being generous to others not only lowers their anxiety and increases their appreciation for you, but it also adds to your happiness and health.   2. Look for moments to be grateful.   Being grateful could be as simple as sending a brief, personal thank-you email when the occasion arises. You do not need to create a large display or spend much money to make people feel valued. Simply watch for positive behavior in others, and when you see it, make a mental note to acknowledge it and express your gratitude.   3. Find opportunities to give back to your community.   Depending on your resources and the capacity to lead others, the extent of your reach may vary, but don't let that stop you from finding ways to give back to your community. Most homeless shelters have standing requests for donations of socks, bottled water, coats, and blankets. Speak to your company to gauge their interest and help organize a supply drive or fundraiser to give back to your community. When the people you lead see you being generous, it displays your character and often increases their respect for you.   4. Become more hopeful.   Naturally generous people are often idealists. They perceive how the world around them should be and believe in the goodness of people. Becoming an optimist could be a struggle if you are naturally pessimistic, but it is not insurmountable. Next time a challenge arises on the team you are leading, go above and beyond to believe the best in others and trust that the outcome will be positive even when it may not look that way on the surface.   5. Look for opportunities to trust others.   Trusting others may not seem like a quality of a generous person; however, one of the most remarkable ways you can be generous with others is by trusting them enough to allow them to take the lead on things that matter to them. Trust their ideas and, more importantly, their ability to complete the task. When you loosen your grip as a leader and trust the people around you to do what needs to be done, they will see you as a more trustworthy, generous leader.   There are many ways to express generosity toward others. When you look for opportunities to be more understanding and helpful, the people you lead will feel more secure following you. A leader needs to gain trust and respect; one of the best ways to do that is by being generous as often as possible!   And what's the most generous thing you can do for yourself? Hire help!   If you're like most construction business owners, there are never enough hours in the day to complete every task on your list.   Often, you must prioritize what you need to do right now – deal with a client, estimate a project, attend an event – and what you know you should do for the ongoing growth of your business.   It sounds simple, but many entrepreneurs' self-sufficient, independent nature can make it difficult to get comfortable delegating responsibility. Finding the right people to relieve the burden of doing everything all the time is the only way a business can scale and reach its potential.   Think carefully about how you spend your days. Are you still at the point where you want to – or need to – do it all? The ultimate success of any company is to reach the point where it can run without you so you can enjoy a holiday, pass the business on to a family member, or sell it. Start outsourcing the tasks you like the least - it could be managing your online presence or bookkeeping, for instance, so you can spend more days with the things that matter and the people you love the most.   Final thoughts   Developing new business habits takes time and commitment – but the payoff is well worth it! Generosity can help you become a better construction business owner. It means going above and beyond what is expected of you and being kind and empathetic toward your employees, clients, the community, and yourself. When you approach your business with generosity, you create a culture where everyone feels valued and respected. This, in turn, can lead to increased productivity, better client relationships, and a positive reputation within the industry.    So, if you're a contractor looking to positively impact your community and build strong relationships with others in the industry, consider being generous and helpful whenever possible. It may lead to tremendous success and satisfaction in the long run. PS  We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 549, And It's About Construction Company Budget Vs. Cash Flow Finding some certainty can make all the difference in the unpredictable construction business world. While the future remains a mystery, budgeting and cash flow forecasting tools can significantly reduce uncertainty, allowing you to anticipate challenges, learn from past events, and enhance your ability to navigate your business. Budget vs. Cash Flow: The Crucial Distinction A common misconception is that a budget and cash flow are interchangeable. A budget is a projection of future possibilities, enabling you to consider various sales and expense scenarios. On the other hand, a cash flow provides a record of actual expenses and sales revenue that flow into and out of your business each month. Although they often deal with the same data, their applications differ. Budget and cash flow are both essential concepts in construction management. However, they serve different purposes and are used in different ways. A budget is a financial plan that outlines expected income and expenses for a specific period. In construction, budgets are typically created for individual projects or a company. The purpose of a budget is to help managers plan and control expenses, set goals, and allocate resources. On the other hand, cash flow is a measure of the amount of cash coming in and going out of a business over a specific time.  In construction, cash flow is significant because it can be used to determine whether a project is financially feasible and whether there is enough cash on hand to pay for expenses. Budgets and cash flow are related but not the same thing. A budget is a plan, while cash flow measures actual cash transactions. A project can be under budget but still experience negative cash flow if expenses exceed income.  Conversely, a project can be over budget but have positive cash flow if income exceeds expenses.  You might budget $1,000/month for online costs, whereas in the cash flow, you'd record the actual amount spent. Despite their distinct uses, cash flow and budgeting are often maintained on the same spreadsheet or similar accounting software for ease of use and comparison. The advantages of budgeting and cash flow forecasting Incorporating budgeting and cash flow forecasting in your construction business has numerous benefits. They help predict and manage potential cash surpluses or shortages, plan for tax obligations, time new equipment purchases, determine when to buy in bulk, and even identify when you might need a small business loan or a line of credit. Budgeting and cash flow forecasting are essential tools for any construction business. They provide a clear picture of the company's financial health and help identify potential problems before they occur. By creating a budget, companies can plan their finances more effectively, set realistic goals, and allocate resources to maximize profitability.  This is particularly important in the construction industry, where projects can be complex and costly. Cash flow forecasting is equally essential, enabling businesses to understand their cash position and ensure they have sufficient funds to meet their obligations. This is particularly critical in construction, where delays or unexpected expenses can quickly impact cash flow. By forecasting cash flow, businesses can plan for these contingencies and ensure they have the necessary funds available when they are needed.  One handy feature is the ability to track expenses and highlight any unusual cost increases or decreases. This allows you to take prompt action to address the issue. Additionally, these tools can help monitor sales levels and flag any underperforming areas of your business. Practical tips for effective budgeting Preparing an annual budget requires sufficient time – allocate at least two or three months for this process. Update your budget each month based on the actual cash flow. Remember that the sales forecast is often the most challenging part. If you're new to the construction business, examine separate estimates for different products or geographical areas and note any seasonal patterns in your company and industry. Sensitivity analysis: a proactive approach A sensitivity analysis, often called 'what if' scenarios, can help you understand how different outcomes affect business performance. This analysis allows you to review the effects of changes in your revenue or costs.  The power of regular updates Regularly comparing your actual expenditure against your budget enhances your ability to predict future costs accurately. Reviewing and updating your budget and cash flow forecasts at least once a month or more frequently if your business environment changes quickly is good practice. Having a construction accountant on board can be incredibly beneficial when managing finances in the construction industry. One of the critical advantages of having a construction accountant is their ability to help with budgeting and cash flow.    A construction accountant can assist with creating a budget that takes into account all of the costs associated with a construction project, from materials and labor to permits and fees. By having a detailed budget, contractors can better manage their cash flow and avoid surprises down the line.    Additionally, a construction accountant can provide ongoing financial analysis and reporting, allowing contractors to stay on top of their finances and make informed decisions about future projects and investments. With the help of a skilled construction accountant, contractors can better manage their finances and set themselves up for long-term success. In summary Budget and cash flow are essential in construction management but serve different purposes. A budget helps managers plan and control expenses, while cash flow helps determine whether a project is financially feasible and whether there is enough cash to pay for expenses. Budgeting and cash flow forecasting are potent tools to help construction businesses like you manage your finances more effectively, plan for the future, maximize profitability, and guide your business decisions. However, their value lies in their regular review and updating, ensuring their figures remain current and reflect your construction business's financial health.  PS   We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 548, And It's About The True Value Of Networking To Contractors And The Community The ability to network is a fundamental part of running a business. Running a business in isolation is difficult, so it helps to have expert partners and acquaintances available to share ideas with.   If you're looking to network with construction industry professionals, there are several ways to do so.   1. Attend industry events: Look for construction industry conferences, expos, and trade shows in your area. These events often have networking opportunities, such as meet-and-greets or after-hours social events.   Conferences are a way to actually meet in person, so the results can be hard to beat. Most conferences have time set aside for networking, allowing you to meet everyone in your niche. More work might involve getting to a conference, but the networking opportunities alone are often worth it. Best results can often be gained by creating a good impression in person, followed by an online contact.   2. Join industry organizations: There are many professional organizations for people in the construction industry, such as the National Association of Home Builders, the Associated General Contractors of America, and the Construction Management Association of America. Joining one of these organizations can give you access to networking events and other resources and benefits.   3. Connect on social media: LinkedIn is an excellent platform for connecting with other professionals in your industry. You can also join LinkedIn groups related to construction and participate in discussions to connect with others.   Podcasts are popular now, so you should consider creating one for your niche audience. Regarding networking, though, a podcast can introduce your personality to relevant experts. Getting an interview might be your priority, but you can get better results if they are tempted to contact you directly. Discussing important industry news and updates will be attractive to industry leaders who are passionate about their niche.   An interview will give you direct contact with an expert, allowing you to make an impression and promote their brand. You might not get every consultation you desire, but most experts seek ways to promote themselves and will oblige. If you can approach them with a credible website, there is a good chance you can get some of their time.   Social media is perfect for networking, mainly when people are open to communicating directly. If you find an active expert in your niche, respond to their questions or comments. By making good contributions, you will quickly be noticed.   4. Attend local business events: Many cities have local chambers of commerce or other business organizations that hold networking events. These can be a great way to meet other professionals in your area and make connections.    5. Volunteer or get involved in your community: Volunteering for a local charity or community organization can connect you with other professionals who share your values and interests. This can be a great way to make connections and build relationships.   When you get a chance, volunteer at your kid's school (or a local school if you don't have children of your own). They may need to make props for a school play or a quick paint job. This will open doors for you to meet parents and teachers who might need home service repair or remodeling.   Remember, networking is about building relationships, not just collecting business cards. Be genuine, be interested in others, and follow up with people after you meet them to continue the conversation.   There are all kinds of groups dedicated to networking. Some are highly structured with performance requirements, exclusive membership, and the payment of dues. Others are free form, come as you please, and no charge.   Not every group is suitable for every kind of business. You will find that some groups may not have connections in the market you are seeking to attract. You will find that some groups have rules that just don't fit with how your business works.   Yet one factor is often overlooked when considering a networking group: does this group offer more long-term or short-term value?   When focusing on short-term value, you see each group member only as a prospect. This limits the business potential of the group because you can't reach beyond the people in the room. If there are only 50 members, and 25 of them fit your prospect profile, what do you do once you have presented to all 25? You can either quit that group to start all over again with another group, or you can take a long-term value approach.   The long-term value of networking groups lies in building strong trusting relationships that will give you influence beyond the people in your immediate group.   Discover Needs   If you are like most people, you are already pretty clear about what you need. You may not be clear on what your business connections need. Do you know anyone who is a good prospect for them? Can you recommend or offer services that will help them? Find out what your contacts need and act to fulfill those needs.   Be generous   Stop looking at every person in your networking group as a potential sale. Especially early on, be more concerned about what you can give than what you can get from these meetings.   Give materially by sponsoring group events, donating to fundraising efforts, or bringing in some bagels for the meeting. Give your time and effort by contributing to a service position, or be free with great ideas and a welcoming smile.   Especially give liberally by helping others make valuable connections. If you can help one of your group members by introducing yourself, do it. If you are generous, the effort will come back to you.   Build trust   People seek out people they can trust. Cultivating trust takes time and effort, but is worth it. When it comes to business, trust is based on three factors:   Value – do you consistently bring value to the relationship?   Dependability – are you the real deal? Can you be depended upon?   Consistency – are you consistent over time? It is harder to develop trust if you are an occasional participant or just passing through.   Hold regular one-on-one meetings with group members. Get to know them, and they will get to know you.   Networking groups provide valuable business allies who can open doors and remove obstacles. Cultivate relationships instead of just asking for sales appointments. Because strong relationships build strong businesses over the long term, this is the most valuable approach to networking.   By implementing these methods, networking will become far more accessible. One of the problems with networking is the effort it can take for no results, but these methods all involve adding value. When an expert can see that you are being helpful first, making a connection becomes smoother.  All it requires is a few people with a reputation to support you, with this social proof adding to your status.   PS   We offer free resources to help you save time and money that you can download and print now.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 547, And It's About Essential Bookkeeping Practices For Construction Start-Ups Starting a new construction business is exciting but has its fair share of responsibilities. One of the most critical responsibilities is maintaining accurate records of your business transactions. From saving receipts to processing employee payroll, every money-related detail should be documented. It's not just about keeping things tidy; it's about understanding the financial health of your business and meeting all your tax obligations.   Don't underestimate the basics   Some small businesses continue to rely on traditional systems, like pen, paper, and a trusty shoebox. Although it may seem outdated, this method can work well for businesses with few transactions. These businesses might not have the latest payment technology and could be invoicing customers or receiving immediate cash or cheque payments. In such cases, they must maintain a record of all receipts, past, present, and future jobs, and a log of their customers and transactions.   In fact, to this day, most of our local construction clients will drop by our office to hand over their receipts, invoices, and paperwork in shoeboxes, envelopes, or plastic containers.   Of course, if you're serious about your business, you might want to consider using a more accurate system.   The power of spreadsheets   In the digital age, spreadsheets offer a simple and effective way for construction start-ups to keep track of their financial activities. A spreadsheet can be a cost-effective alternative when starting or operating a part-time business with a limited budget. As your business grows and becomes more complex, you can transition to specific accounting software.   With a spreadsheet, you can set up a basic accounting system to track invoicing, perform calculations, and even set up a budget.   Embrace accounting software   For those more serious about their business, subscribing to accounting software might be the best option. Modern accounting software often links directly to your bank account, making it an efficient way to document all necessary transactions. It also reduces the risk of errors and offers features like generating professional invoices, tracking debts, and ensuring everything is entered accurately for your accountant during tax season.   If you opt for a cloud-based solution, you'll enjoy real-time access to your accounts, increased data security, and the flexibility to access your financial data anytime, anywhere.   When you become a client, accounting software and training are included in your subscription. The best part? You can access it 24/7, know how much it will cost, and you are not forced to sign an annual contract and pay a fine if you change your mind; if you're unhappy with our services, you can cancel it anytime.   Stay on top of your cash flow   Regardless of your accounting system, a good strategy will enable better decision-making based on real-time financial insights. Identifying cash flow trends can help drive your construction business growth by revealing your most profitable products and services, biggest clients, highest costs, and more. The ability to monitor these trends places you in a better position to improve your profits and spot potential growth areas.   Financial management is vital to running a successful contracting business, but entrepreneurs often start their business with little understanding of making solid financial decisions.    Managing your finances is more than bookkeeping and paying taxes, which are crucial to a sustainable business. It's about managing cash flow, preparing for income fluctuations, and having the resources to take advantage of opportunities.   Here are six practical money management tips you should follow if you're a first-time entrepreneur or even if you are a seasoned restarting construction business owner to increase your chances of success.   1. Have a budget   Having a budget is essential in being on top of your finances. Knowing how much money you have, how and where you spend it, your limits on how much you'll spend, and where the money comes from gives you crucial information about your profitability. That data can then help you make vital operational decisions about your construction company—such as where you need to save money and where you can spend more.   Having a budget and accurate records helps keep your business and finances on track. Every important financial decision should be weighed against your budget.   2. Start an emergency fund   Your emergency fund doesn't have to hold much money, but it is there for you in case of sudden emergencies. Even highly successful companies have periods where they struggle financially—often due to circumstances well beyond their control, such as market shifts. An emergency fund can help your business survive during times when income drops. It can also provide you with needed cash to take advantage of an unexpected opportunity.   3. Don't spend too much   New construction business owners might feel tempted to grow their businesses too quickly, make significant but unnecessary purchases, or hire too many people before they have financial stability.   Wait until you have a steady, reliable cash flow to make significant changes to your company. At least initially, it's important to focus on the necessities for running your business and get to know your business cycle. Don't spend large amounts of money until you know when your busy periods are and when the slower times tend to occur—and how drastically they affect your finances.   Plan for massive expenditures and establish guidelines for when you'll start spending more money, for example, after a set period of stable income. Then, stick to the rules you've set out for yourself.   4. Hire an accountant   An experienced accountant can help you understand tax laws and take advantage of deductions. Without an accountant, you could face an unwelcome and unexpected surprise when your taxes are due. You can also make costly mistakes if you do your taxes.   Tax regulations can affect everything from your company's ownership structure to the best ways to spend your money so you can decrease your financial obligations at tax time. Hire a construction accountant and get to know them well so they can give you tax advice that meets your needs.   5. Keep your business and personal finances separate   It can be enticing to mingle your business and personal finances, especially if your business is small. However, doing so means you don't have accurate financial information about your construction company or yourself.   It's also vital to pay yourself an income from your business. This helps ensure you're financially stable. Combining your business and personal finances means you aren't paying yourself. You keep whatever is left over after everything else is paid for. This leads to situations where your business becomes unsustainable because all your money goes into the company, leaving you with nothing to live off.   Open a business bank account and draw your salary from that.   6. Maintain a good credit score   Good credit is essential for construction business owners. It establishes your creditworthiness and enables you to apply for loans, open accounts, and maintain a steady cash flow. You must know your credit score and maintain a good rating.   If your credit score is poor, focus on paying bills on time and double-check to ensure your credit report is accurate and up-to-date.   Wrapping up   As a construction start-up, your primary task is to evaluate your construction business needs and choose an accounting system that allows you to track your cash position accurately, keep precise records for tax purposes, and identify cash trends.   Consulting with your construction accountant can be an invaluable first step. They can advise on the best system and ensure it's compatible with their processes. Remember, your financial records are the lifeblood of your construction business, and keeping them in perfect order is integral to your success.   Do you want to discuss what system will best suit your needs? I am here to help. Fill out the form on the right (or below, for mobile users), and I'll get back to you shortly. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 546, And It's About Seven Sure-Fire Ways To Grow Your Construction Business   Once your construction business is up and running, it’s essential not to rest on your laurels. Successful business owners always look for ways to grow and maximize their profits. We’ve compiled a guide and checklist to help you identify ways to get the most out of your contracting company.   1. Grow your sales   Contact your best clients.   One of the easiest ways to increase sales is to sell more to your existing clients. For example, you could try contacting every customer and offering a complementary product or service they might need now. You could also determine when clients need maintenance checks.   Create a client loyalty scheme.   You’re looking to create a customer care program using customer contact software and implementing a customer loyalty scheme.   Commence a contact nurturing program.   Can you make more effective use of your database of customers and clients by maintaining regular contact through newsletters (physical or email), phone calls, personal visits, or attendance at conferences and trade fairs? Do you advise them of special offers or tell them about any products and services they have not previously bought?   Develop a social media campaign.   If you’re not on social media, now’s the time to start. It’s one of the most essential marketing tools and one of the cheapest (and often accessible).   Run webinars/demonstrations.   By doing this, you’re positioning yourself as an expert in your industry, creating brand awareness and customer trust. It’s also a great way to network among industry peers and meet potential customers.   Attend and exhibit at trade shows.   These are important for the same reasons you’d run webinars and demonstrations, but trade shows also offer the chance to get your product to new customers, increase word-of-mouth advertising, and add more to your customer database.   Cross-sell complementary products/services.   Learn the fine art of cross-selling, which suggests to customers that whatever they’re buying from you would be of more value if they purchased a complementary item.    2. Grow by developing new services   Research new ideas and see if you can update current services.   You’re looking to identify any new products or services that a) complement those already existing and b) your customers have indicated they’d be interested in buying them from you. Any new product needs to complement what you already sell, not be a substitute. Otherwise, there is no growth in sales.   Check financial feasibility   It’s essential to ensure there’s a demand and that you can create the product. Diversifying into new products is a medium to high-risk growth strategy because new products and services cost time and money to source or develop.   Test with customers   From friends and family to more formal focus groups, testing your product in your target market and recording and analyzing the results is essential. You’ll be able to determine if the demand exists and if there are changes you could make to the product or service before taking it to market.   Protect intellectual property   The last thing you want is your brilliant idea and all the work that went into creating it nixed at the last minute because someone else beat you to the patenting, copywriting, and trademarking. Equally, you don’t want to steal someone else’s idea, so protect your IP and ensure you’re not breaching anyone else’s.   3. Grow by improving profits   Improve efficiencies   Technology’s great here – there are many ways you can use it to make your processes more efficient. So review all your systems and look for ways they can be improved. The better the system, the more efficient and productive it will be. Look at your customer base. Do you have habitually late or non-paying customers? It might be time to ditch them.   Increase prices   Increasing prices widens your margins and raises the cash you might need for business growth. You should always seek to increase your prices over time to improve your profit margins and keep up with inflation. Make sure you communicate to your customers the reasons for the price increase. It’s essential to convince your target market that your products or services are worth the additional cost, so consider ways to justify a price increase and focus on the benefits.   Streamline debt collection so there’s more cash coming in.   Make sure you’re always paid on time. If your customers owe you money, the faster you can obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your business’s cash flow.   4. Grow your capability   Assess your capacity to handle expected growth.   This is especially important if you need additional equipment or space. Capacity building is about working on your business’s ability to do more internally – such as speeding up production or improving your systems and processes.   Retrain current staff if your business’s growth requires new skills.   Exploring the available training options is a good idea if your current staff would benefit from retraining instead of taking on a new employee with those skills. It’s crucial to discuss retraining with your team to ensure they can fit it into their schedules.   Review your technology   What you’re looking to do is determine if you need to upgrade internal systems or software. Ensure that your systems can administer your business and that its sales can handle expected growth.   5. Grow by updating your construction business model   Develop a strategic alliance to gain shared advantages.   Consider entering a strategic alliance with successful distributors or complementary businesses, as you may be able to expand your business’s reach and win new customers more cost-effectively.   Purchase a competitor   Not only will you expand your customer database, but you’ll also get access to their staff and suppliers. Odds are that your competitor has unique strengths your business can benefit from. You’ll be able to open up to new and diverse markets as you add more value for your customers. And, because you already know the industry, acquiring a competing business should be a safe investment if everything checks out once due diligence is complete.   6. Grow staff expertise   Investigate training courses your staff can attend   As your business grows, so should your staff expertise. You and your employees must be well-trained in how to use them. Aside from in-house training, look at educational institutes and the courses they offer to determine if any of them complement your business.   Run in-house seminars on new technologies.   If you’ve installed new software that your staff will need to use daily, ensure they’re up to speed by training them in-house. You might want to get a specialist on the new software to conduct the training, or if you’re an expert, you can do it yourself. This applies to any new technology you’re introducing to your business.   7. Grow your cash reserves   Free up internal cash.   You want to avoid seeking a loan or outside investment here. Reduce the number of withdrawals you’re making, or look at leasing equipment only when needed instead of buying it. If you can achieve growth without borrowing to do it, so much the better.   Weigh up the risks versus rewards to assess whether you need a loan.   It could be that there’s no other option than to borrow money to finance your business growth, but you should carefully consider whether it’s worth it in the long run.   Final thoughts   Successful construction businesses don’t rest on their laurels. You should always be on the lookout for ways to add to or improve your service, which is where continuous research and development is essential.    Remember, growing a business takes time and effort, so stay focused and be patient. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode 544, And It's About Why Banks Won't Lend Money To Your Construction Business Getting approved for a business loan or line of credit is more complicated than qualifying for a personal loan. Small construction business owners must be adequately prepared to meet with a lender to present their business in the best possible light and ready for the money they need. Think of all the times: You loaned money to a friend or relative Provided labor and materials for somebody's home or business without a deposit check Did change order work that you never got paid for doing and never will Gave a subcontractor/employee an advance on their paycheck, and you never got paid back Multiply that by 100,000, and you will understand why banks seem so tight-fisted about loaning money. Banks stay in business by loaning money and earning interest. They work hard to find people, companies, and contractors with reasonable credit risks they can lend money to and get paid back promptly, with all of the interest due to them. Do your best to avoid raising any of these red flags. #1 Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards #2 The financials tell the banker your bookkeeper doesn't understand Construction Accounting #3 The preparer's signature on the annual tax returns is not from a qualified tax specialist #4 You have no access to a Construction Accountant, not even for quarterly check-ups #5 You don't have a formal documented Business Plan with a budget and projections   If you have already raised some or all of these red flags, no worries; we can help you fix most of them. Bankers love chatting with accountants because we speak the same language as homebuilders, who love talking with sub-contractors and building material suppliers. After all, you all speak the same vocabulary. The Risk Management Association (RMA) 1914-  the Robert Morris Club (RMA) was formed to help businesses and bankers exchange credit information. It was named after Robert Morris, a signer of the Declaration of Independence, and was believed to be the primary financier of the Revolutionary War. The RMA developed several tools; among them was a system of Ratios that we use today to study the financial statements of all companies in all industries. The banking and lending industry has enormous databases and artificial intelligence software from places like The Risk Management Association, allowing them to separate reasonable contractor risks from bad ones. It generates recommendations based on algorithms much more complex than any gambling casino and with a much higher payoff. One of the keys to getting a banker, lender, or bonding company to consider your construction company for financing is how your financial statements are presented. In particular, your construction company's Profit & Loss and Balance Sheet. A banker, lender, or bonding agent logs into their RMA account, fills out electronic forms, answers questions about your construction company, and inputs specific numbers in specific blanks taken directly from your construction company's Profit and Loss and Balance Sheet. Any construction accountant knows precisely how to set up QuickBooks correctly for this process.  If a contractor gives their banker, lender, or bonding agent a set of financial reports that do not conform to the RMA requirements, they may or may not try to extrapolate the numbers needed using Excel or some other program. In most cases, they are polite and thank you for "applying" before giving you the "We will let you know as soon as we know anything" speech. I know this because I have heard it from many bankers, lenders, and bonding agents who are frustrated. After all, they know you are an excellent client and know you are a person of integrity who can be trusted to pay the loan back on time, with all the interest. The RMA and other reports show where your contracting company stands concerning other contracting companies serving similar geographic and demographic markets. Each major category, Sales, Cost of Goods Sold, Overhead, Other Expenses, and Other Income, is rated on a scale of top 25%, middle 50%, and bottom 25%. Ideally, all the numbers on your Profit and Loss and Balance Sheet fall somewhere in the middle 50%. Whenever a contractor "forgets" to declare all their income or "overstate their expenses," it will appear as a red flag. Finally, a Z-Score is compiled, a formula for predicting bankruptcy. Edward I. Altman published it in 1968. The procedure may be used to predict the probability that a firm will go into bankruptcy within two years. Although not 100% accurate, it is a valuable tool, similar to a tape measure, which is not 100% accurate yet still practical. This is why sometimes a contractor with excellent credit cannot get a loan or line of credit, and yet another contractor with only good credit can get financing. Prioritize these three things for a smoother loan application: Your business risk profile One of the most essential parts of any business loan application is demonstrating to a lender that your company can make regular payments and repay the loan in full. If your business is profitable, you can show you're at low risk by presenting cash flow statements, a detailed business plan, and your good credit history. Some of the most common reasons a bank won't grant a loan to a small business are a lack of security (e.g., no business assets), a poor or non-existent credit history, business inexperience, and a weak business plan. Know your credit score It's highly recommended that you review your credit score before you apply for financing. That way, you'll know whether it might be better to wait until you're in a better position to qualify. Check that your report is complete or free of any errors that can affect your score. Your credit report includes your payment history for credit cards, equipment leases, mortgage or office rentals, electricity, phone fees, and other business expenses. A simple omission – say your internet provider, whom you always pay on time, isn't included in your payment history – can result in your credit score being lower than it should be, so be sure to correct any errors immediately. Before you apply for financing If you suspect a lender will decide your business is too high risk for a loan, or you've been denied financing, apply for business credit instead. Your spending limit may be low, but a credit card will allow you to build a good credit history. Pay off your balance – or, at the very least, make your minimum payment each month. Keep up with your other financial obligations, such as personal loan payments, rent, leased equipment, and any income taxes owed. Apply for a loan in six months to a year, and you'll have a much better chance of approval. Before you apply, be sure you have all the documentation needed to support your loan application. Include in your portfolio copies of business banking statements, financial reports, a detailed business plan including projections, and a well-researched marketing plan. It would be best if you also were prepared to discuss with a lender why you need to borrow the amount you're asking for, the term length, and how your business can afford to repay it. Make a strong case for funding by demonstrating profitability, a good credit history, and a solid business plan, and you'll be in an excellent position to qualify for the funds you need to grow your business. Final thoughts Hopefully, you have gained insights into the banking, lending, and bonding industries. 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. Reach out to me and let's chat about your construction business; whether you need a little help or a lot, I'm just a message away. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode 543, And It's About Better Practices For Managing And Maintaining Construction Business Cash Flow In the business world, cash flow remains the lifeblood that keeps your operations running smoothly. Whether you're a start-up finding your feet or a seasoned business in the construction industry, managing and maintaining a steady cash flow can be challenging. But a few small changes can make a world of difference to your cash flow and overall revenue.   Your business needs cash. Cash keeps your company in operation and enables it to grow, so you should know how much your business needs to survive. Although many think the answer is linked solely to operating expenses, this isn't true.   No single factor determines how much cash every construction business needs to have on hand. Somewhere between 3-6 months of operating expenses is an excellent baseline to start from, but there's more to it than that.       Initiate a discussion with your lenders if interest only or deferred payments on outstanding debts are possible.   Request more flexible payment options   It never hurts to ask, especially if you've been transacting with your vendors for a long time and you've established a certain level of mutual trust and confidence. You can request more flexible payment options or longer payment terms.   Tap into available credit lines   Take advantage of available lines of credit and place the funds in interest-bearing accounts.   Assessing your cash flow is fundamental to better understanding your business's financial health.   Let's dive into some practical strategies you can implement to boost your cash flow.   Make invoicing a priority -get paid faster and aggressively follow up on invoices.   Receiving speedy payments is crucial to improving your cash flow. If you typically invoice your customers, consider offering them an incentive to pay earlier than the standard 30-day payment period. A small discount of 5% could encourage them to settle their bills within ten days.   Small businesses in the construction industry are at risk of having their clients not pay them on time—or at all. Being too passive in collecting unpaid invoices or reminding clients when payment is due will not help you collect the money you need to pay your bills.   Sending out reminders of due invoices can speed up getting you paid and encourage clients considering not paying you to reconsider. Reach out to clients if necessary to discuss payment options. Even a payment schedule is better than no payment at all.   Invoicing should be a regular part of your business day. Adopting a same-day or next-day invoicing practice can ensure you're on top of your receivables. Additionally, consider emailing invoices as a supplement to regular mail.   If you have customers who are habitually late, don't hesitate to remind them regularly about payments.   Use business credit cards.   Using business credit cards to pay suppliers or make purchases can also help manage cash flow. Most credit cards offer a grace period, sometimes up to 25 days, allowing you to settle the statement balance without incurring interest. Some even come with cash-back features.   Watch for scope creep.   Scope creep occurs when clients or stakeholders change a project's goals or deliverables. Almost all projects experience some form of scope creep, but too many changes to a project can severely impact your bottom line and hurt your cash flow.   Make sure the terms of your project are set out clearly, and let clients know that any changes to the project will result in additional fees. If clients attempt to change the project, you can remind them about the original agreement and the extra costs. If they insist on making the changes, you can charge the agreed-upon amount.   Invest in today's technology.   Investing in modern bookkeeping software or invoice management services can help streamline your receivables and expedite customer payments. While it may seem like an additional cost, this investment can offer tremendous cash flow benefits in the long run.   Many software solutions can help you understand your company's cash flow. They can help you build projections and get a real-time view of how your business is doing. This information can then be shared among company managers so everyone knows how the company is doing financially and where strategies need to be put in place or altered to get you back on track.   Additionally, invoicing and project management software can encourage faster, more manageable payment from clients and keep projects on budget. This will also improve your cash flow.   Consider delegating the financial tasks.   Many construction small business owners become self-employed because they have construction skills, not because they want to be businessmen. The financial aspects of a construction business are complex and take much time and planning. That can add demanding responsibility to the business owner.   Hiring someone to take care of the financial aspects of your business or even to advise you about the decisions you face can take the stress off you. That's precisely how we can help. Having someone on your side with the financial expertise and construction experience to assess your business, advise you about your cash flow, and help you secure funding. With the time and money you'll save, it will be worth it in the long run.   Final thoughts   Remember, cash flow is king in the business world. Assessing your cash flow is fundamental to better understanding your construction business' financial health. Implement these simple yet effective strategies to maintain a positive cash flow and drive your business toward success.   Need help with managing your cash flow? Get in touch with us now. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 542, And It's About What Is A Fractional CFO And How Can It Help Your Construction Business? A fractional CFO, or Chief Financial Officer, is a finance professional working part-time, retainer, or contract. They bring the experience and expertise of a high-level CFO to your business – without the cost of hiring a full-time, in-house employee.   Fractional CFOs service several clients simultaneously, typically on a part-time, retainer, or contract basis. Their specialty is providing outsourced CFO services to small and medium businesses.   Because their financial management skills are so well-developed, it's common to bring one on board to help navigate a challenge.   Every construction business can benefit from dedicated financial management expertise, but very few small companies have the means to hire someone full-time—particularly in the lean early years.   Unfortunately, it's those first few years when a company is just starting up that establishing good habits with managing financial resources is so important, and, over time, can even make or break a construction business.   Outsourcing a CFO is affordable for business owners like you who recognize the need for a financial expert with construction business experience. CFOs provide top-level advice when needed, offering incredible value and cost savings to companies focused on growth and long-term success. But what happens when you hire a CFO without a construction business experience? At the very least, you and your CFO would constantly struggle between having all the documents needed for data entry and providing the tools to the Bookkeeper to deliver the reports correctly. As a construction business owner, you want answers to the following questions: Am I making any money? Where am I making any money? Why isn't there a report that gives me all the answers at the push of the button? Furthermore, a financial challenge sometimes comes beyond your team's skill or experience level. This is where a fractional construction CFO can be of great benefit. Some of the issues they assist with include: Cash flow problems High expenses Existing systems that are no longer working Cost-cutting analysis Getting through an audit Hopefully, these situations don't come up often, but when they do, it's beneficial to have an expert on your side to guide you through. Your small construction business might want to consider the benefits of working with a fractional construction CFO. Achieving goals A fractional CFO can help you realize your dreams by deciphering the numbers. They will look at where you are now and help you plan where to go next. This includes: Ensuring the books are in order Performing financial forecasts Helping with strategic relationships Overseeing due diligence There are plenty of ways a fractional CFO improves your operations. The specific skills and experience they provide will clarify your situation and help you achieve what you want. Managing growth Taking your construction business to the next level can seem daunting. You want to grow but don't want to risk your success by taking on too much or making a damaging misstep. A CFO will help you navigate the steps ahead. If you're already growing at a rate that makes you feel like losing control, they will help you retake the reins. A fractional CFO will help by: Breaking down large amounts of financial information into helpful data Making a plan to develop existing employees and their skills Identifying the need to hire new employees to manage growth Implementing systems that will work in the future Exploring causes of revenue loss and cost overruns and developing solutions to address them Ultimately, a fractional CFO is helpful to guide you through the growth process so that you can feel confident as your business expands. High-level decision making A CFO can analyze your construction company finances and provide expert advice to help you make more informed, strategic decisions for ongoing profitability. That senior-level financial oversight can help you understand any risks or weak spots, identify opportunities, and create a realistic and actionable business plan that steers the company precisely where you want it to go. Managing risk Your business is an asset that needs protection from any potential risk that may threaten its ongoing success. A fire or flood, cyber attack, or employee theft can all cause long-term damage if you don't protect your business. A CFO can undertake a risk assessment and ensure that you invest wisely, have appropriate insurance, and secure sensitive data, equipment, and inventory. Field tools are a given. The truck has a rack for ladders and lumber. Vans have shelves and bins; they are tall enough to stand in, saving wear and tear on employees' knees. Less strain on knees can keep or postpone possible Worker's Compensation claims. Worker Comp claims lead to increased premiums. Once the Tools and Equipment are updated, it is much easier to see which employees are productive. In the Field – Who is bringing their jobs in on time, under budget is reasonable. Jobs without warranty work and signing billable change orders add to the bottom line. Simple Efficiency is a "Win-Win" for everyone: The Contractor Owner receives the reports needed to make good, proactive decisions. The CFO has a smooth-running operation and can focus on the "Money Management" duties necessary to run the business. The Office Manager or Bookkeeper can efficiently enter the day-to-day paperwork into the QuickBooks file, answer the phones, and complete other daily tasks without frustration. The Field Staff know they have turned in all their paperwork (paper and digital) in a timely fashion with limited stress and are greeted warmly by the Office Manager or Bookkeeper. Everyone is ending their day on a "Happy Friendly Note" and looking forward to tomorrow. Everyone Wins When: 1. The Contractor Owner knows the accounting records are accurate and can make decisions 2. The CFO can be confident that clients are billed, and no one is paid twice. 3. The Office Manager or Bookkeeper can easily track Job Costing and Timecards 4. The Field Staff stays on top of the job and gets signed Change Orders 5. The Customer is happy with an excellent job without any warranty work. Final thoughts When you hire a fractional CFO, you decide how often their services are required and only pay for the services you need. Hiring a financial expert on contract is a cost-effective solution for construction businesses that only need part-time support. Staying on top of your company's financial management is a struggle for many small business owners, who spend much time attending to clients and profit-generating activities. Working with a team of accountants, bookkeepers, and a CFO can help you better manage the most critical aspect of your business for ongoing growth: your bottom line. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 541, And It's About The Value Of Documenting Effective Construction Business Systems 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.   To be a businessperson, you must try to become an all-rounder, not just a specialist player. You can offer outstanding goods or services, but if you don't develop sound business systems, you are not a fully rounded businessperson, and your construction business will be in danger of failing. Remember that other stakeholders in your business - such as the building material suppliers who give you credit and the bankers who extend loans and financing terms, are constantly assessing your business skills. If you consistently pay people late or can't meet the duration of your debt agreements, they will draw obvious conclusions about your business skills. Here are the top five reasons to record your company processes and systems so your business can run more efficiently and effectively even when you're not there. 1. Improve efficiency When you sit down to record your processes and systems, you may discover gaps where improvements could be made. You might find better ways to perform routine tasks, reducing bottlenecks and eliminating extra steps. You may decide that some tasks are too time-consuming, and you'd save time and money switching to an automated solution. Reviewing how you do things as you record systems can help create better systems, improving productivity. 2. Support staff training When hiring new talent, a systems manual can dramatically reduce the time you spend training. Documenting your processes can also ensure that jobs are consistently performed to a high standard. Sharing your procedure guidelines can help new employees and casual staff quickly get up to speed on expectations and give them a reference to check before asking questions. 3. Sell your systems Develop a unique turnkey system that other construction businesses can implement to save time and cut costs, and you can increase profits by selling your operating manual. Those documented processes are part of your company's intellectual property and can be licensed like your brand name. 4. Getaway One of the perks of running your own business is setting your schedule. But without systems, it can be challenging to get away for a vacation, let alone retire. To build a company that can run without you, you need to be able to delegate the tasks and processes to someone else with confidence that they'll be performed correctly and consistently. Another excellent reason to make sure your systems are recorded and your manual is updated regularly. 5. Sell your business When it comes time to sell your construction business, you'll get top dollar if you can provide a buyer with an operating manual. A potential buyer wants to know that the company will continue to run smoothly without you throughout the transition period and that institutional memory will be retained when there's staff turnover. The greater ease with which someone can step in and operate the business, the greater the value and the higher your compensation when you're ready to sell. As we've seen, several excellent reasons exist to review your systems and record them, even if you're just starting. You might update it yearly, just like your business plan, to discover best practices and ensure it maintains its usefulness to you and your staff. Too many businesses fall over because the owner has not established efficient business systems. This typically happens because the business owner is so caught up in the day-to-day running of the business that the fundamentals of good business management get forgotten. It must be often said that the owner doesn't like bookkeeping or other administrative tasks, so these get put on the back burner. The symptoms are familiar, and their results are disastrous: Poor or non-existent record-keeping. Tax obligations are not met. Invoices go out late, and debts remain uncollected. There is one cash flow crisis after another. Goods and services are incorrectly costed and priced. Any of these factors can lead the business down the slippery path to failure, but all are avoidable. The whole point about using sound systems is that they free you to spend more time working ON your business, not in it. How good business systems will help you? Good systems will make your construction business more substantial, efficient, and manageable. They will also make your business far more attractive to future buyers because if you have developed clear operating and procedure manuals, the business will be seen as an independently viable unit and less dependent on you. Consider, for instance, what makes franchises so successful: they are designed so that people can buy a proven system and operate it after minimal training. They can do this because the business procedures are captured in simple, clear operating manuals. You don't have to be an expert at everything in your construction business. For example, you might hate bookkeeping. Okay—but do get someone else to do it for you; don't rely on a shoebox for your accounts! And you should at least understand the processes and the overall accounting picture, even if you don't want to do the 'drudge work' yourself. Final thoughts Large, profitable construction companies have known and used some form of Business Process Management (B.P.M.) for hundreds of years. We've always used M.A.P. to help our clients find the treasure hidden inside their construction business. (You can download our free toolkit here if you haven't done so). Having poor systems is the road to stress and burnout. On the other hand, good business systems will enable you to work smarter, not harder. They free you to work on your business rather than in it. That way, you're more likely to avoid burnout, and you'll be able to take time off work because you can train others to follow your documented systems and procedures. Build a better construction business and liberate yourself from it. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 540, And It's About Key Financial Concepts For Construction Company Owners 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.    Get that one thing working, then move on to the next one. What is the most annoying thing you can quickly fix? We talk about accounting because that is our primary focus. Start with the basics: Open a business checking account. Use a dedicated credit card for the business (if using a personal card). Create invoices, present them to your customers, collect the money, and get it in the bank (Do you have an easy way for your clients to pay you?). Collect the money ASAP because, without cash flow, you are out of business. Basics of income and expenses As a construction business owner, you must understand how you generate and spend money. This way, you can maintain fiscal responsibility while also promoting business growth. Income statements (Profit & Loss) versus cash flow Business owners should always stay on top of the latest cash flow analyses and projections to make smart short-term financial decisions. Remember, a P&L doesn't tell you if you can pay your bills or how liquid your business is. Keep that in mind! Operating cash flow Understanding a company's operating cash flow is vital for assessing its performance and cash runway. Gross sales versus net profits As a small business owner, paying attention to sales and expenses is vital to ensure a healthy and well-managed business. Remember, gross sales don't equal net profits. Understanding every expense, knowing the industry averages, and having enough cash to thrive long-term are crucial. Reading a balance sheet It's important to understand the line items on a balance sheet. Taking a deep dive into these details can provide valuable insights into your financial well-being. Soon, you will instinctively know if something doesn't look right. Return on equity This concept helps us decide whether to keep investing in the business or look into other investment options. You see, there are always opportunity costs to consider for every investment. Materials A construction contractor may purchase material and resell it to their customer. Thereby thinking it is a reimbursable expense. (You lose money when doing this).  Remember all invoices to the Customer (Retail, General Contractor, Spec Builder, Developer) are income. Every line item on a customer invoice is ALL INCOME. If the words are on the invoice, then the invoice is either taxable or non-taxable based on other factors. Washington State, for instance, has a clear explanation.  Purchases for the material are Cost of Goods Sold or are expenses if you are short-cutting your accounting. I have seen financial statements backed out because they will reflect reimbursable income as a negative number, thereby showing it as a deduction. (The net effect is double dipping on the expense side.) The cause is that the accounting software is not correctly set up.  Cost of goods sold It's imperative to clearly understand the cost involved in producing your products or services. If you're unsure how much it costs to provide your services, it's hard to know how much you'll have left to cover your overhead expenses. For example, a material receipt arrives at the regular bookkeeper's desk from a lumber supplier, and they open the QuickBooks contractor file, look up the supplier to determine how the previous lumber purchase was coded, and proceed to code the new transaction the same way. The problem is that each transaction is unique and could go into any of a dozen accounts or item codes depending upon whether it is a direct cost, indirect cost, WIP, retention, warranty, overhead, administrative, or other costs, or simply an expense. The cumulative effect of these bookkeeping errors in one month can do enough damage to the financial and job cost reports to bankrupt a contractor eventually. Accounts payable and accounts receivable Managing cash flow through digital tools for accounts payable (AP) and accounts receivable (AR) is crucial. After all, cash is king for small businesses! No - the company with the most Accounts Receivable or Accounts Payable does not win a prize. Accounts Receivable means your customers owe you money. Accounts Payable means you owe money to your suppliers. Net Profit is the money left over. You want lots of Net Profit! You are not a banker! Stop borrowing money using your credit cards, Loans, and Lines of Credit, then finance customers' projects at 0% interest. Working capital Monitoring working capital is vital for ensuring the business has enough funds to operate smoothly. You can get loans if you can't get enough working money because of seasonality or other external factors. A working capital ratio between 1.2 and 2 signifies a healthy business to lending companies. The operating capital ratio shows the percentage of assets to liabilities, i.e., how often a company can pay off its current liabilities with its existing assets. The working capital ratio calculation is Working Capital Ratio = Current Assets / Current Liabilities. We are deeply passionate and committed to the construction industry and want to support you, our clients, and our readers to achieve your definition of success. Whether you're a contractor, owner, spouse, business professional, bookkeeper, or accountant, we understand your frustrations because we've been where you are now and are here to help. We have proudly produced 12 classes in our Construction Accounting Academy. Each course was designed for QuickBooks users from all levels - Beginner to Experienced. Our goal is to provide the student with suitable and valuable information to build a construction accounting system specific to their type of construction business and company role. As with every type of business, having the right tools can help you work efficiently and effectively. The key to your business profitability lies in understanding the critical concepts of construction accounting. Now that the tools are available online and accessible 24/7, it's up to you to leverage and implement the power of knowledge. To wrap things up A solid understanding of these key financial concepts enables you to make informed decisions, effectively manage your finances, and strategically drive your businesses' growth and long-term success. With financial acumen, you can identify expansion opportunities, mitigate risks, and build a sustainable foundation for your business ventures. Don't navigate your finances alone – we're here to help. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 539, And It's About Construction Company Contract Traps And The Advantages Of Legal Help Mistakes can be expensive in the construction business, and as an entrepreneur, although you'll know many of the regulations that apply to your business, there are so many that you can't possibly remember all of them. Depending on the type of contracting business you run, you could face laws regarding taxation, employment, product liability, premises liability, discrimination, health and safety, and various other regulations.   Keeping on top of all the laws that affect you and the changes to those laws while still being mindful of all the other aspects involved in running a business is almost impossible.   That's why you need legal help. A legal professional can identify the rules and regulations that apply to your business and advise you on operating within those laws. They can also help you draw up necessary contracts that could prevent legal action in the future, and they can prepare a case in the unfortunate event that you wind up facing or filing a lawsuit.   For instance, a new contractor meets an experienced customer, and money changes hands, not how you expect it. Typically, this happens when you first get started: You bid on a project and are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray that nothing will happen during the project that will cause you to reread the contract. Before it is too late, consider these contract traps to look out for: 1. Poorly defined scopes of work create claims and disputes. 2. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. 3. Payment terms put you in never-ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24%. 4. The customer keeps 5%-10% of the contract price as retention for up to a year or more after the entire project is finished, which could be all your profit. 5. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. 6. Indemnity clauses could make you pay the customer's attorney fees and costs. 7. Your insurance company may be required to provide additional insured coverage for the project, giving the customer free insurance and full access to the policy coverage and limits. 8. Often, the terms and coverage of the warranty are beyond reasonable industry standards. 9. Dispute resolution clauses that require arbitration first and then litigation are probably the two worst ways ever invented to resolve disputes. 10. The client's pre-printed final waiver of the lien document (necessary for the contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the project. Here are three reasons you need a professional to help. They help set up your construction business In the early stages of your business, they can help you make vital decisions and understand the consequences of those decisions. Is your business going to incorporate? Do you know what that means from a legal standpoint compared to other business entities? Do you understand the difference between hiring employees and working with contractors? Do you know the employment laws surrounding hiring and firing if you hire employees? Law experts understand each of those and can explain how they affect your business. They can help you make an informed decision that is in the best interests of your organization and protects you in the future. They help with contracts At some point, your business will enter into contracts. Whether those are employment contracts with employees, service contracts with clients, or business agreements with other partners, you will need legally-binding documents to protect yourself. Not all contracts are easy to read or understand, and some may have confusing clauses. They will help determine if the contract is in your best interest and if there are inclusions you need to know about—such as whether parts of the contract can be assigned to third parties or how to terminate the agreement. They can also revise the contract or change anything you deem problematic. If you're drawing up the contract, getting a qualified legal opinion can ensure the agreement represents your needs and goals. This will definitely prevent experiencing contract traps, as mentioned earlier. We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your arrangements need a well-defined scope of work, clear payment terms, a reasonable schedule, and a proper change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, with no exceptions. They help prevent lawsuits When you own a small business, there's always a chance you'll wind up in litigation. You could have a dissatisfied customer or an angry former employee. You may file a lawsuit because someone else infringes on your trademark or copyright. Usually, there are steps you can take in those situations before filing or facing an expensive lawsuit, and a lawyer can help you navigate those steps, possibly avoiding the cost of going to court. If you wind up in court and already have legal representation, that person will be familiar with your business, making representing you much more manageable. Many small construction business owners and entrepreneurs wait until it's too late to seek help. They wait until a lawsuit has been filed or need to file it. A lawyer can advise you of ways to avoid those situations in the first place, saving you unnecessary legal expenses in the long run. Final thoughts Yes, attorneys cost money. The benefits of having one, however, far outweigh the expenses. They will not only advise you on business decisions and contracts that protect your business in the future; they will help defend your construction company, product, or yourself if a lawsuit arises, either with you as the plaintiff or the defendant. Smart construction business owners know there is a time and a place to spend money. Spending your money in intelligent ways saves you time and energy. It can save you money in the long run by reducing turnover and preventing costly mistakes. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 538, And It's About Pros And Cons Of Working With Family And Friends In Construction Ever dreamed of starting a family business? Investing in a franchise opportunity with friends?   Businesses owned and operated by families can have incredible staying power. All family-owned companies, Volkswagen, Samsung, and Nike, are among the world's most successful, leading brands.   Working with family and friends can be fun and rewarding, especially in the construction industry. I know because we've been in one. But before you hire the people you care about most, it's wise to consider the pros and cons.   Pro: Dynamics When you hire family and friends, working together can feel comfortable and pleasant. You can vouch for their work ethic and values upfront. You already know their natural talents, abilities, preferences, and skill sets – their strengths, weaknesses, and how you can best work together. Con: Dynamics Regarding family and friends, modifying negative behavior or communication patterns can be challenging. What's more, it can be complicated to confront a loved one when they aren't acting in the company's best interest. The temptation to avoid conflict or hurt feelings can make managing a friend or relative tricky at best – at worst, it can become a severe liability. Always practice clear communication. Share business policies, practices, and expectations just as you would with any employee. Pro: Streamlined hiring You'll save time and money when you have a crew of committed workers ready to go before you're set to launch. With family and friends willing to help you, you won't have to screen and interview candidates – or spend precious time following up on background checks and qualifications. You can hit the ground running, focusing on generating income and profit. Con: The company has to come first Building a profitable and sustainable business requires effective management without exception. That means sometimes it may be in the company's best interest to re-train an employee for a different role, ask a worker to take on additional responsibilities – or, in some cases, to let someone go. When it comes to complex personnel matters, it can help to seek guidance from an independent advisor. Pro: Tradition is seen as a strength Strong brands are quickly built on the values we associate with family, such as honesty, trust, and enduring relationships. A recent study showed customers prefer family-owned businesses for their perceived stability, trustworthiness, and consistent service. Con: Too much tradition can hold you back When a family business does things as they've always been, the company can suffer from a lack of diversity and innovation. It's essential to keep an eye on market trends and changes in your industry, so you can adapt quickly and avoid missing opportunities. Solution: Set up a board consisting of family members and an equal number of independent advisors. A note on the spouse doing the construction bookkeeping and divorce Here is what we see repeated many times over. Contractors cross the line and treat their spouses as indentured servants who should be grateful for a place to live, eat and sleep in exchange for maintaining a household and being an overworked, underpaid contractor's bookkeeper. They become incredibly frustrated and desperate. In some cases, you are not at fault; you are being hammered by customers who are doing everything they can to drive the price of everything and everyone into the ground in a twisted attempt to get something for nothing, and I have a suggestion for how to fix that. The answer is simple. We have helped save many marriages by working with contractors' spouses and showing them how to do what they are good at, like managing the money, paying the bills, customer service, and other management tasks, and letting us take care of the contractors' bookkeeping services. Having your spouse handle construction bookkeeping can be a recipe for disaster. Mixing business and personal relationships can lead to conflicts of interest and communication breakdowns. It's best to keep these two areas of your life separate to maintain a healthy work-life balance and avoid potential complications down the line. Ultimately, going through a divorce after being in the construction business together can be challenging. It's not just about separating personal and professional lives, dividing assets, and determining who gets what. It's important to approach the situation with a level head and seek legal counsel to ensure a fair and amicable outcome.  Remember to prioritize the well-being of any children involved and communicate openly with your former partner to minimize conflict. It may be a difficult process, but with patience and cooperation, you can move forward and begin a new chapter in your life. Having family and friends involved in a business can have advantages and disadvantages.  On the one hand, having family members or close friends as business partners or construction crew can provide a sense of trust and loyalty that may not be present with outside partners. It can also be easier to communicate and make decisions with people you know well and trust.  On the other hand, working with family and friends can also lead to conflicts and emotional tension that can spill over into personal relationships. It can be difficult to separate business and personal disagreements, which can quickly become heated and damaging. Additionally, working with family and friends may limit the pool of talent and ideas available to the business, as outside perspectives and expertise may be overlooked.  Whether involving family and friends in a business is beneficial depends on the specific situation and individuals involved. It is essential to consider the potential risks and benefits before making any decisions and to prioritize clear communication and boundaries to maintain healthy personal and professional relationships. Final Thoughts Because family members and friends are personally invested in your business – both emotionally and financially – they can make fantastic employees. They'll work hard, put in the extra hours when needed, and do everything they can to ensure your venture succeeds. The biggest challenge can be to draw the lines between work, family, friendship, and home. As an employer, it's crucial that you set boundaries, practice clear communication, and be willing to make difficult decisions so your business and personal relationships can thrive. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 537, And It's About How To Safeguard Your Construction Company From Employee Expense Fraud As a small business owner, you always look to keep your company running efficiently. Expense reimbursement fraud is the last thing you want to face. Not only can it hurt your bottom line, but it can also damage your construction company's reputation. Here we discuss employee expense fraud, the reasons behind it, and, most importantly, how to prevent it from happening to your construction business.   What is expense fraud?   Expense fraud is submitting falsified or inflated expense claims to receive reimbursement from the employer or avoid paying out of pocket. It is illegal, unethical, and detrimental to your business.   Employees can commit expense fraud in several ways, such as using personal expenses as business, submitting fake receipts, inflating costs, duplicating submissions, falsifying mileage, and using company funds for personal use. Why do employees commit expense fraud? There can be multiple reasons behind expense fraud. Financial gain is the most common motivation, but some employees may do it for personal reasons, misunderstanding of policies, pressure to achieve targets, or simply apathy. As a business owner, it is essential to understand the reasons behind expense fraud, as it can help you identify and address them proactively. Understand The Employee Theft 10-10-80 Rule - Discovered over many years of experience and first-hand observation by auditors, accountants, fraud examiners, and anyone involved in detecting employee theft. Ten Percent of all employees, including bookkeepers, will steal in various ways from office supplies, petty cash, graft, kickbacks, and payoffs from your suppliers, vendors, and sub-contractors, and even hundreds of thousands or even millions of dollars. They will do it regardless of how many security systems are in place because they lack integrity. They cannot be stopped, only caught! And only then, if you have systems in place and can convince the criminal justice system to take action, good luck with that! Ten Percent of all employees, including bookkeepers, will never steal because they have integrity and a "Producer's" paradigm. Ultimately, these people will add so much value to your company that you cannot help but reward them with more money, benefits, and recognition. Because if you do not, they will be recruited by your competitors.  Eighty Percent  of all employees, including bookkeepers, will steal if they feel confident they can get away with it and if circumstances allow for it due to weak integrity and a sense of "Redistributing The Wealth, But Not The Work Or The Responsibility." Signs to watch out for your employee: Asks for signature authority on your checking/savings/payroll accounts Has a lifestyle that seems above what they are earning Takes Records Home to work on, or they want to work in the office when no one is around (Fraudulent activities are more accessible when nobody is around) Gets defensive when you or your CPA asks questions. Has access to your credit/debit cards Your bookkeeping is a complete mess, and you cannot understand it. Tries to explain away delinquency tax notices. Is the primary contact for your company's banks, auditors, creditors, etc. Misplaces payroll receipts, deposit records, supplier letters, and estimates. Makes bank deposits, and they seem to be too small. Show signs of drinking, drug, gambling, or family financial problems. Suggested they could save money by eliminating the outside accounting firm. Gets angry when you ask for a QuickBooks report. Tries to blame the previous Bookkeeper or outside accounting firm for messy QuickBooks. Does not get along well with other employees and staff members. There are more warning signs, so be aware of and action steps you can take. How can you effectively prevent expense fraud? The first step in preventing expense fraud is to have a comprehensive and clear expense policy. It should be up-to-date, relevant, and easily accessible for all employees. Ensuring that the policy covers all necessary expenses, acceptable limits, documentation requirements, and reporting procedures is essential. It would be best to encourage employees to ask questions or seek clarification regarding the policy. Require detailed receipts and proper documentation to support the expense claims. Expense receipts should be original and include the date, amount, vendor name, and a clear description of the expense. For instance, credit card statements are not acceptable as receipts because they need to provide detailed information about the payment. Conduct regular audits of expense reports to identify any patterns or suspicious claims. Audits not only help you detect fraudulent activities but can also identify internal control gaps or process deficiencies. Providing policy training and raising awareness of employees regarding business ethics can also help prevent expense fraud. All employees should be trained on these measures and regularly communicate a zero-tolerance policy for fraud and misconduct.  Additionally, implement systems for reviewing and approving all expenses and ensure checks and balances are in place to prevent unauthorized spending. By taking these steps, we can maintain a culture of integrity and honesty in your business and protect your construction company's reputation. You can leverage expense management software that automates the expense reporting process, thereby reducing errors and improving efficiency. It can also help monitor suspicious activities, such as multiple submissions for the same expense or expenses exceeding the allowable limit. Final thoughts Preventing expense fraud requires a collective effort from construction business owners, project managers, and employees. Having a clear and comprehensive expense policy, encouraging ethical culture, conducting regular audits, and leveraging technology can help prevent expense fraud. By implementing suitable prevention measures and promoting ethical conduct among employees, you can reduce the risk of expense fraud and protect your business from potential financial and reputational losses. Don't let expense fraud be a hidden cost in your business. If you need help creating policies or want to review your existing expense processes, we're here to help. Reach out to us today! About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 536, And It's About How To Handle Construction Client Debt So You Get Paid On Time If your customers owe you money, the faster you can obtain it using effective collection tactics, the better. Ideally, you want to reduce the chance of bad debts and pressure on your construction company's cash flow. It can be easy to neglect to manage your debtors when you're busy growing your business, but intelligent credit control is important. So it's crucial to have the skills to handle the people who owe you money well, especially if you want to avoid taking them to court. When negotiating contracts with clients, try to set payment terms that help your cash flow, such as deposits or progress payments. Dealing regular payments for contracts that take months to complete has two purposes: it gives you cash flow to match your expenses and protects you from total loss on a project if the customer goes into liquidation. Please include a timetable for the customer to pay invoices as part of any agreement. Agree on clear milestones for the work to be completed to minimize the chance of the customer disputing any invoices. Successful debt collection is about good processes. As with most things, prevention's better than a cure. If you have good processes in place for collecting debt, the less likely it is that you'll have to chase debtors. And if you do, having the proper procedures to follow up on late payers makes it much more manageable. 1. Tighten your credit control Having stricter control over new debtors is the best way to limit your exposure to future bad debts. So make sure that you: - Ensure your business completes comprehensive reference checks before offering credit to new customers. - Set fair credit limits – and ask your staff members to notify you if a customer wants to exceed their agreed limit. - Approve any additional credit extensions in advance. Make sure you state clear payment conditions in your terms of trade agreement. Make use of credit checks – this can be especially important for new businesses that feel pressure to gain customers. Try to avoid being careless with credit checks. It might come back to haunt your business in the form of cash flow problems up the road. Terms of trade – implement a system whereby new customers must sign their acceptance of your terms of trade before you offer them credit. Follow up by emailing (and any changes) annually to refresh their memories. 2. Structure payment terms It's essential to put together your payment terms to encourage prompt Payment. You could, for example, offer a 2% discount for customers who pay within 21 days. Ensure that your terms of trade state exactly when you'll start charging interest on any overdue amounts and the rate you'll be charging. Don't yield to customers even if Payment is only a day late. Whether you decide to make any exceptions for those customers that usually pay promptly is up to you – but be clear that it's a once-only exception because you value that customer's business relationship. 3. Good organization is vital You'll come across as an astute businessperson who takes Payment collections seriously if you systematically show your clients that invoices are a top priority. By being organized and able to quickly reference a customer's account when they make contact, you'll be more likely to get paid faster. Some ways you can project a higher level of organization include: - Being professional – all written communication with your customers should be consistent, look professional, and clearly show contact details, the amount owed, expectations, and payment terms. - Having a consistent schedule – sending invoices at the same time of the month and following up after a set number of days. - Don't show a layered approach – a customer's first invoice will show the amount due and by when, but next month should state that they're late in paying. Don't have 'late Month 1, Month 2, Month 3'. They are all late and should accumulate. - Flexibility for significant clients – a degree of understanding may be necessary for your critical clients with larger bills to pay that help keep you in business. Phone calls or more personal letters to key staff may be warranted to entice earlier payments. 4. Address problems quickly Identify and deal with problem payers as soon as you can. The sooner you start chasing the debt, the sooner you'll get paid. If you've got good accounting software, it'll notify you of any unpaid credit sales as they become overdue. Many accounting programs will automatically flag due bills and generate reports of unpaid bills showing how long they've been late. You're looking to speed up the collection of late payers. You can do this by: - Calling them directly – to discuss how a resolution can be made quickly. - Visit in person – a face-to-face meeting is generally more effective. - Sending a legal letter – if all other options have been exhausted and you're close to writing off the debt. So when is a good time to ask for Payment? When the contract is signed, ask for a deposit. Progress Payments - Every week, perhaps on Monday, you could review the work completed the week before, issue a simple invoice or give your customer a comprehensive payment application and get paid. Change Orders - Every change order has a clear scope of work and pre-determined price, which needs to be documented before the work is done and paid in advance. Sounds strong? Well, change orders have a short shelf life; the value of the work and the motivation to pay for the work on all Change Orders rapidly diminish after the work has been performed.  Final Payment - when the work is done. When you prepare the final invoice, you will credit back the deposit and either issue a small refund check or collect a small check. Final thoughts Stop doing the work and yet feel embarrassed about asking for money. Construction business owners often find chasing money owed to them like pulling teeth. It's not pleasant, and it's not the reason you went into business. But when people owe you money, and it's the lifeblood of your business, then you cannot afford not to take action. Clients will respect you for being firm but fair. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 535, And It's About A Guide To Service Based Business Advertising That Works Marketing covers everything you do in your business that creates awareness, including advertising, brochures, competitions, trade shows, demonstrations, travel, direct mail, email campaigns, your website, and sponsorship. Let's narrow our focus to an integral part of Marketing - Advertising. Advertising is a massive industry with multiple mediums for your message to be heard or lost in translation. It might sound like a no-brainer, but before you start planning your advertising, you must consider what you are trying to achieve from your investment. Your ultimate objective likely is to build sales, but other things to consider are increasing market presence and building your brand. Advertising can be used to: Establish a reputation as the market leader or industry expert – allowing you to win long-term contracts or even increase prices. Build brand awareness for a product to make it easier to sell and raise the profile of your other products. Change customer perceptions of your products and services to boost sales. Detail a specific, one-off message to your market by informing potential customers of a special offer or product component. Address your existing customers to increase your brand awareness – meaning they think of your business first when considering a product or service. Identifying your target market Before any advertising is written, you need to take the time to define your target market (if you haven't already). Knowing who you are trying to target will help you customize your marketing efforts to suit those people. You should already know who is interested in your products or services, but the easiest way to clearly define your target market is to create an ideal customer profile. How to create a customer profile: Try and create an ideal demographic for your target market. Think about the age, gender, marital status, and income of the person most likely to buy your product or use your services. If you are unsure, think about your biggest customers – is there anything they have in common, such as age or gender? Think about the geographical reach of your business – service-based businesses like yours have a limited market area. Think about your regular customers or clients that live within the region. Once you know your market area, you could research existing data or conduct some market research to find out the average age, income, and family status of people in your area. Be careful not to make your target market too specific, as you may exclude many potential customers. For example, rather than targeting couples aged up to 30 years who own their first home, it might be better to target couples aged up to 40 years who are currently renting but are interested in purchasing a property. You can learn a lot about your target market by looking at your competition – pay attention to where they advertise, how they present their advertising, and the tone they use in their written material. Subscribing to competitor newsletters or regularly checking their websites is a good way of keeping up-to-date from a distance. Types of advertising Knowing what type of advertising will appeal the most to your target market is the key to producing effective advertising. Here are the most common types of advertising you can use to promote your construction business. Print advertising. Print advertising traditionally covers newspapers, magazines, brochures, flyers, and other printed media. Print advertising can be expensive, such as a feature page in a newspaper or a local magazine. More inexpensive options include community papers, classifieds, or delivered printed fliers. Internet advertising. Internet advertising includes online services such as YouTube, Facebook, Google, and Twitter but also includes banner ads and embedded video content. Internet advertising offers a range of options for different budgets, from pay-per-click services such as Google AdWords to home page coverage on a popular website. Outdoor or out-of-home advertising. Outdoor advertising covers a range of billboards, signs, or even event sponsorship. Other popular types of outdoor advertising include motor vehicles, such as advertisements on buses or cars. Some outdoor advertising, such as billboards, will require a permit, and most signs are subject to local laws and regulations that determine where they can be located. Broadcast advertising. Broadcast advertising traditionally includes television and radio but can also cover some Internet mediums such as YouTube, Vimeo, or even podcasts. Appealing to your market Now that you have identified your target market, the next step is to decide which forms of advertising will give you the best return on your investment. This decision will be based on the characteristics of your target market, such as: Personality Values Interests or hobbies Lifestyles. Think about how your service fits your target market's lifestyle – will they have enough time to wait for a renovation project to be done, or are they too busy? Also, consider what features of your product or service will be most appealing to them, such as quality, price, and after-sales support. You should now have a good idea of which features of your products or services you should pay the most attention to in your advertising material. Future-proofing your advertising To get the most out of your investment, make sure you: Listen to any customer feedback about your advertising. Are prepared to amend your advertising efforts if they aren't working. Observe your competitors' advertising efforts and pick up on any new trends or tools you can use. Ask another business owner or professional for advice if you doubt advertising material content, design, or tone. Are aware of laws or regulations about where you can advertise and the content of your messages. Feed your advertising results back into your marketing or business plan. No-idea vs. Objective and Task Method I see many construction businesses that are just too busy during certain times of the year to think of advertising, and if they did, it would be a waste as they would not be able to handle the work anyway. Suddenly, however, sales fall (perhaps due to seasonality), and then the business starts marketing. However, this could be a waste of money as you're often marketing at the wrong time or advertising to get instant sales, which is unlikely. So the problem is that the marketing money is spent during slow times (this hurts) and is allocated to fix a problem instead of creating new opportunities. What to do? At the start of the year, select the targets you'll aim at over the next 12 months. Work out what you want from each of these targets (such as 20 new clients, or each existing customer to spend another $100 in your plumbing business, or an increase in the average sale). Then expressly state what you want to do to achieve this, estimating how much it will cost (common sense will give you guidelines, for example, a small service-based business will not be spending $100,000 on TV advertising). Final thoughts "Early to bed, early to rise, know your numbers, and advertise." Always have a method of monitoring if your advertising is working or not—otherwise, you'll fall into the 'no idea' category that far too many small business owners belong to. You can't refine and improve your marketing spending without measuring the results. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 534, And It's About The Rundown To Running Your Own Construction Business Getting your construction business up and running and making a profit is usually much more complicated than it sounds. So let's focus on honing the skills you'll need to make it happen by acquiring these yourself or consulting professionals to help you. What it means to be your own boss Being your own boss might sound like it is the ultimate ticket to freedom and financial success – and it can be. But don't be fooled into thinking you'll be able to put in a few hours each morning and spend the afternoons networking over a round of golf. The reality is that most businesses require much hard work – more than your standard 9–5 job and over some years – before they start to make a reasonable profit, and many new construction businesses fold before they reach that point. Here are the top things you should be aware of: You need to be passionate about what you do: Setting up your contracting business is challenging. If you're not passionate about what you do, you'll find it hard to stay motivated when faced with several hurdles. Also, if your business is just another idea to make money and not something you're passionate about, you'll lack that key ingredient to make your new business more attractive than the established competition. Before you start a construction business, ask yourself if you're passionate about this industry. You'll need to make sacrifices, at least during the first couple of years: You'll need to put in a lot of hard work between coming up with your business idea and establishing your business. You'll probably have to work harder than most of your mates and make many sacrifices. It might mean less time with your friends, less time for sports or hobbies, or even less time with your family. You'll also probably be taking home less money – and might need to sacrifice family holidays or put major household purchases on hold until your business is established. Ask yourself if you're prepared to make the sacrifices necessary to make it a success – and check that your family is prepared to make these sacrifices too. You'll face risk and uncertainty: When you start your own business, you won't have the security of regular payments from an employer. Your business might be unable to pay you a wage for the first few weeks, months, or years. In addition, you might need to draw on your savings or even take out a loan to finance your business operations. There's an element of risk and uncertainty when you start your own business, so you need to be sure that your construction business idea is viable and that you have enough money to support yourself and your business until you reach your break-even point and start turning a profit. You'll need abundant patience and persistence: It's rare for a start-up that has everything run according to plan without any teething problems. You'll likely encounter your fair share of setbacks and challenges, from financial issues to demanding customers and problem staff. While there's a fine line between persisting against all odds (when the business is not viable) and giving up when the going gets tough, you'll need patience and persistence to make your business a success. Getting the skills you need Very few people who own businesses start with all the necessary skills. The secret is to quickly inventory your current skills and identify the gaps in your knowledge base. You can then either get the training you need or employ people with the right skills for those areas you don't have a natural affinity for. You'll need the following skills to run your business. Market research skills to understand the market you are entering and stay abreast of market developments, customer preferences, and the actions of your competitors. Money management skills to forecast when you expect your business to break even, understand your financial position at any point, and asses the financial implications of any business decision you make. Marketing and sales skills to effectively promote your products or services and reach your break-even target sales as soon as possible. People skills to help you manage and motivate your staff and deal with customers. Negotiating skills to ensure you can strike the best deal when dealing with suppliers or bidding contracts. In the longer term, it's a good idea to do courses in all these areas, even those you're uncomfortable with. If, for example, you don't like figures, or feel you are not good with people, try to develop these skills over time. A rudimentary understanding of financial statements and what the critical metrics for your business mean will help you run your business better and improve your people skills if that is your area of weakness. "Do you have what it takes" Self-test Here's a quick self-test you can take to see what it takes to start your construction business. 1. Do you have several years of experience in the trade industry you're considering entering? If not, it might be best to wait a few years until you increase your knowledge and contacts. 2. Starting your own business is challenging. Do you thrive on challenges? If not, starting your own business might not be your best option. 3. A wide range of skills to run a business successfully would be best. Are you prepared to undergo training to develop the skills you need or to heed input from specialist advisers in areas, not your specialty? 4. There's no fallback guy when you run your own business. Do you enjoy making and being responsible for your own decisions?  5. You'll need to invest much time into your business start-up. Are you prepared to work long hours without the security of a steady income? 6. You might not be able to pay yourself a wage for a while. Are you prepared to lower your standard of living until your business starts to make a profit, and do you have sufficient savings or an alternative income to live off during the start-up period? 7. Most small businesses fail due to inexperience, poor management, or lack of planning. Are you actively working on overcoming these common problems?  8. Starting your own business has implications for your family, including less income, reduced family time, and taking on additional responsibilities. Does your family understand this and unconditionally support your desire to start a business?  9. Regardless of how excited you might be about starting your own business, there is a chance you might fail. Are you prepared to risk losing the money you invest in your business? When a business starts, it's natural for you, the owner, to be a jack-of-all-trades. You may not have the capital to hire specialists or access the technology to help you. As your business grows–or as you look to take a minor role in your construction company–you may find the industry has become over-reliant on you, making it challenging to take a step back. Final thoughts Have you M.A.P.ped your business yet? Consider this before retreating and delegating: Marketing - never sells more than Production can provide; on-time and on-budget Accounting - manages the money to maintain operations and produce a reasonable profit Production - delivers the project intending to exceed customer expectations As you know, we are big on Construction Marketing, Accounting, and Production; having a basic operation manual in place for your office, remote, and field employees pays off in the long run. It won't be easy to run your construction business on your own. Are you prepared to hire staff and delegate responsibilities to them or use the services of a professional? If not, this could reduce the chances of your business being successful.  Call, email, or fill out the form on the right to schedule a free consultation with me - regardless of where you are in you're construction business journey. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 533, And It's About Finding The Right Construction Talent And Common Onboarding Mistakes As a business owner, you know the right people are crucial to your construction company's success. The best employees can help you achieve your business goals, improve productivity, and drive growth. But finding the people best suited to your team can be daunting, and sometimes it's easy to hire someone who seems okay rather than taking the time to find the best fit.  Here are some steps to find and hire staff that support your business growth, whether in the office or the field. Step 1: Define the job and necessary qualifications The first step in finding the right talent is accurately defining the job description and qualifications. Is this a new position you're hiring for? Are there gaps in employee skills that need to be met? Is this a position that requires specific knowledge and experience?    Remember that there's a difference between "must-have" qualifications and "nice to have" considerations. When setting out "must have" qualifications, include only those that are necessary to the person successfully performing the role.  Remember also that the job salary should match the role and the qualifications. You can't expect to hire someone with ten years of experience by only offering an entry-level wage.    Step 2: Use multiple recruiting channels These days, there are many places you can turn to when finding employees, and each attracts different people. Using a variety of channels when searching for employees gives you a higher chance of success.  Post the job description on your company website and multiple social media platforms. Use job boards and recruitment agencies to expand your reach. Contact your personal and professional networks to ask for referrals or recommendations. After all, the people you know also know people. They may be able to recommend someone who's an excellent fit for your construction business. Step 3: Screen candidates Once you have a list of candidates, you'll need to screen them. This includes going through resumes/CVs and conducting interviews. Check to make sure they have the qualifications and experience you need.  During the interview, ask open-ended questions to assess the candidate's problem-solving abilities, communication skills, and overall fit. Ask about the results they've obtained in previous jobs and lessons they've learned throughout their experience. It's also important to allow candidates to ask questions about your company and the position you're hiring for. Step 4: Check references Before making a job offer, it's essential to check references. Contact former supervisors and colleagues to ask about their work performance and attitude. Double-check that they obtained the results they said they did. This will help you ensure that the candidate has a proven track record of success and is a good fit for your construction company. Step 5: Make a job offer After checking references and confirming that the candidate has the skills and qualifications to match your needs, it's time to make the job offer. Be clear about the terms of employment, including salary, benefits, and start date. Give the candidate time to review the offer and ask any additional questions they may have.  Once they accept the offer, you can begin the onboarding process. Step 6: Provide training and support Once you've hired someone, it's crucial to provide training and support to help them succeed in their new role. This can include job-specific training and coaching on company culture and values. Regular check-ins and feedback can help new employees feel supported and valued and ensure issues are handled quickly and effectively. In this regard, while most small businesses spend much time and effort finding the right employees, they often fail to capitalize on their newly hired talent by ceding the onboarding process to HR or neglecting their responsibility entirely. From long waits for workspace, equipment, or training to an overly negative recitation of 'don't do these things or you will be fired,' employers consistently miss the opportunity to inspire new contributors and set aggressive performance standards. Before you bring on your next new hires and leave them to languish in the lunchroom filling out paperwork with an HR representative, consider the following seven common onboarding mistakes small businesses make. 1. Letting human resources lead While it's important for newly hired employees to fill out their tax forms and enroll in benefits, this process should not replace new-hire orientation. Rather than waste valuable time on paperwork, send new employees a package of documents, or give them a link to apply online before they start their first day of work. Nothing is more demotivating than spending four hours alone in a room filling out paperwork you could have quickly done at home. On their first day, an employee should be greeted by their direct supervisor, who spends at least a half-hour with them to begin building a relationship. 2. Focusing on negatives While it's vital to discuss expectations early in the onboarding process, focusing on a list of negatives that could result in termination detracts from why you hired the person in the first place. While it's crucial to address ethics and accountability, newly hired employees must be encouraged to engage in the work they were hired to do rather than focus on the top 10 ways they could get fired. 3. Failing to prepare workspace and equipment There is no excuse to leave newly hired employees without workspace or equipment. It would be far better to delay an employee's start date rather than leave them in a conference room without a workspace or equipment to do their job. 4. Failing to provide an agenda All newly hired employees should have a training agenda before their start date. The agenda should list the type of training they should expect to receive, the name of the trainer with a short bio, and an expectation of when they will be finished their training and start work on their own. If there is a competency test before the start of work, this should also be noted in the agenda. 5. Failing to introduce co-workers Co-workers are an excellent resource for newly hired employees. While companies often focus on introducing their most productive workers and managers, introducing new hires to other recently hired employees who can more easily empathize with their needs is often helpful. If possible, consider hiring new employees in waves rather than individually, as this can often build relationships and lead to a more cohesive team. 6. Failing to provide comprehensive training Training provides a critical foundation for ongoing success in a construction company. Not only does a well-trained employee perform better, but the employee will also have more confidence when interacting with customers and will be far more likely to succeed. If your organization has a high churn rate within the first six months, poor training is likely the culprit. Untrained new hires often become disillusioned with an organization that lacks structure, training, and follow-up. During the first 90 days of hire, an employee should have enough training to be self-sufficient for at least a week, regardless of their position. 7. Failing to provide knowledge resources Not all employees learn at the same rate using the same methods. Make sure new hires have access to training material in various formats. This includes training handbooks, training videos, and employee shadowing. Rather than force a particular format, concentrate on the results needed to excel at the position. Make sure to give feedback regularly throughout the process. New employees' first day on the job should be a day of promise and inspiration, not a window into dysfunction. Since first impressions matter, alert everyone in the organization that a new employee has been hired, and supply a biography. There's nothing more gratifying to new employees than to be enthusiastically greeted by co-workers who have taken the time to find out who they are and how they can contribute. Final thoughts Finding the right talent for your business can be challenging, but you can increase your chances of finding the right people to help your business grow. Remember to be clear about job expectations, use multiple recruiting channels, screen candidates thoroughly, conduct in-person interviews, check references, make a job offer, and provide proper onboarding, training, and support. About The Author: Sharie DeHart, QPA, co-founded Business Consulting And Accounting (Fast Easy 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 531, And It's About A Guide To Building A Solid Construction Company Marketing Plan When it comes to the construction industry, employee training and development is crucial for success. Providing employees with the necessary skills and knowledge can make their work more efficient and effective, leading to higher-quality results and increased productivity. From safety training to technical skills development, a variety of areas can be focused on in construction employee training and development programs. Investing in these programs not only benefits employees but also improves the overall success of the construction company. Don't have an employee? As a construction company owner, it's important to prioritize investing in yourself and your growth. By paying yourself first, you'll be better equipped to make intelligent investments in your construction business and provide valuable training and development opportunities for your soon-to-be employees in the industry. This can lead to a more skilled and efficient workforce, which can ultimately help your business thrive. Let's say that you have two people working for you, one is your apprentice, and the other is your office administrator; developing employee skills for them and yourself creates a situation where your construction company benefits from a more knowledgeable and capable staff while your whole team gains additional skills or qualifications. This can allow employees to further their careers and possibly increase their earning potential in the long term.  Training and skills development can assist underperforming employees and be used to encourage talented employees, allowing them to grow within the business. This helps both individual employees and your business achieve their full potential. Some business owners worry that training and development can cause an employee to seek additional responsibility elsewhere. But it's also worth bearing in mind that driven and successful employees will lose interest in their job and leave if it doesn't allow them to develop their skills. To develop skills as a construction professional, starting with a solid foundation of knowledge and experience in the industry is essential. Here are some steps you can take: 1. Set a training budget Consider setting aside money for staff training and development in your annual budget as you'd budget for other necessary business expenses. You could claim the training costs as a business expense or negotiate more expensive training as part of a salary package with employees. 2. Draw up a training policy A training policy doesn't need to be too in-depth, but it should set out any special requirements so your employees know what training you'll consider and what requirements they'll have to meet to benefit from company-sponsored training. You could require that: Training needs to be job-related for the company to pay for it. Employees pay 50% of the course fee if training is helpful to the company but not necessary for their job. Employees reimburse costs (if completely necessary) if they don't complete or pass the course. 3. Discuss career goals and opportunities. Discuss short- and long-term career goals during performance reviews or employee conversations. You can decide how to match their goals with any short and long-term opportunities available in your business. Training in areas that do not further your employee's short- or long-term career goals will not be embraced as enthusiastically, so it makes sense to plan future development to balance business needs and employee goals. 4. Identify employee strengths and weaknesses One of the best ways to get agreement on the appropriate training is to collaboratively identify the strengths and weaknesses of each employee for any current and future roles they might play. Start by identifying the skills they'd need for the job. Then ask them to identify the skills they have and list their strengths. Then ask your employee to identify the weaknesses in their skill set. Phrase this carefully and be clear that you're not looking to criticize but to find areas where additional training would help them perform current or future roles better. 5. Agree on training objectives Use the information you've obtained from exploring career goals and opportunities and examining strengths and weaknesses to identify suitable training options for each employee and collaboratively agree on training objectives. Write down the objectives, then plan how these will be achieved and the timeframes you expect them to be achieved. 6. Stay current Ideally, as a construction business owner, you must stay current with industry trends and advancements by attending conferences, workshops, and other professional development opportunities. Remember, developing your skills as a construction contractor is an ongoing process that requires dedication, hard work, and a commitment to continual learning and improvement. You can build a successful career in this exciting and challenging field with patience and persistence. 7. Monitor progress and request feedback Monitor progress by reviewing the agreed objectives at least once a year to evaluate progress. This allows you to revise the training objectives and plans where necessary. Consider scheduling regular meetings to ask staff for feedback. These can be as informal or formal as you like, ranging from a quick conversation to asking staff to complete a questionnaire or conducting a formal presentation on what they have learned. You'll want the following: A quick summary of what was learned (the take-home benefits). Feedback on whether the training met the employee's expectations. Feedback on whether the training met your business's objectives. Give your employee adequate notice that you'll be asking for feedback. This helps you to evaluate courses or training service providers to use or avoid in the future. Cultivating construction company productivity through staff training and development is crucial to ensuring success and growth in the industry. By investing in employee training, companies can improve their workforce's skills, knowledge, and efficiency, leading to higher quality work, faster project completion times, and increased profitability.  Training can take many forms, from on-the-job mentoring to classroom instruction, but the key is to provide employees with the tools and resources they need to excel in their roles. This can include technical training in specific construction techniques, safety and compliance training, or leadership and management training to help employees develop critical soft skills. Moreover, training programs should be tailored to the company's and its employees' unique needs. By identifying areas where employees need improvement, companies can design training programs that address those needs, resulting in a more effective and efficient workforce.  Final thoughts Investing in staff training is an intelligent strategy for construction companies looking to improve productivity and profitability. Companies can build a skilled, motivated, and productive workforce that can confidently take on even the most complex construction projects by providing employees with the resources they need to succeed. You can't outwork your competition forever, but you can outlearn them. We offer free construction bookkeeping and accounting consultation; fill out the form on the right, and I'll get back to you shortly. We understand your frustrations, so if you or your in-house bookkeeper is lost and tired of your paperwork system, we also offer Construction Accounting and Bookkeeping Classes. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 530, And It's About How To Manage Your Construction Company Payroll Effectively Payroll is one of those things that starts simply enough. You start your construction business and hire a few employees, and things tick along. It's straightforward enough to keep everything in line at first, but what happens to most companies is… they grow! This is a great thing, but it also means that payroll becomes more complicated. As such an essential aspect of your business, payroll must run smoothly. Getting paid is, after all, the primary reason that most people come to work.   One of the biggest challenges contractors face is keeping track of overtime hours. With so many employees working on different job sites and projects, it isn't easy to calculate their overtime pay accurately. Complying with all federal and state labor laws is another essential aspect of a construction payroll system. This includes appropriately classifying employees as exempt or non-exempt, withholding the correct amount of taxes from their paychecks, and providing accurate wage statements.   Here are some tips for managing payroll effectively: 1. Simplify Payroll is one of those things that can be overly complex, and the importance of simplifying it can't be overstated. Many small and medium-sized companies have quirks in managing their payroll. This can make it difficult for somebody else to step in or for someone new to be trained. Keep things as simple as possible wherever you can. One way to do this is by switching to direct deposit. This will drastically reduce the work put into issuing and tracking payments. 2. Schedule At least once per year, and preferably more, it's essential that your payroll professional take some time to create a payroll calendar. This will allow them to highlight any dates that may cause a lag in your employees' pay. It will also allow you to plan for any potential shortcomings or other issues arising from holiday closures or oddities in the calendar. Making a payroll mistake is a surefire way to lower employee morale, so it's important to be aware of these dates ahead of time. Once compiled, distribute the calendar to your managers so that they can communicate the information to their employees. This will keep everyone apprised of any potential delays in getting paid that may come up. 3. Automate The computer can be your best friend. Finding the right software to help with payroll can automatically take care of simplifying and scheduling, freeing up valuable time for your payroll specialist. It also eliminates the potential for human error in payroll processing and creates a crystal-clear picture of your finances. Many options are available these days that are easy to learn and straightforward to maintain. 4. Brush up Payroll rules and regulations can change frequently and for any number of reasons. It's important to stay informed on any changes in your region and proactively plan for them. A lot of time can go into correcting a payroll error, so know what's happening to avoid this. With more and more employees being hired remotely, it's also important to be aware of any regulations about those geographically located in a different area from your business. 5. Get help There comes the point for all growing trade businesses where they have to outsource their payroll processing; if this is you, congratulations! It is truly a milestone. There are many options out there regarding hiring a payroll specialist, and many of them are available online. Choose the one best suited for you and your business needs without leaving your desk. This takes the pressure off you to know all the nitty gritty details about payroll processing. By hiring an outside professional, preferably a construction payroll specialist, you can ensure your employees will be paid correctly and on time. Payroll Options While every contractor recognizes the flaws of using ineffective tools, they may still be losing money due to inefficient payroll tools and processes. When contractors ask us which payroll option we recommend the most, we often say Direct Deposit. As usual, the reasons are simple and related to our primary role as "Profit and Growth Specialists for Contractors." Option 1 - Paper check looks like the least expensive. Calculate payroll, handwrite or print a paycheck, hand it to your employee, and done. What is the first thing an employee does after getting a paper paycheck? They go to the bank or the check-cashing store and get cash! Nowadays, you can deposit a check using your bank's mobile app, but let's say your employee wants to cash it immediately: If they are paid for travel time to and from the job site, they will typically cash their paycheck to the job site or take a break as soon as the bank opens. Having this scenario in mind, there are three costs to consider:  #1 Travel Time - See how much ten minutes can cost your company and Multiply By Three! Because it will take ten minutes each way to detour to and from the bank or payday advance company, plus ten minutes inside the building. For example, you pay your employee $25.00 per hour, which means every ten minutes of doing personal business on company time costs you $5.94, multiplied by three equals $17.82. If Your Company Earns 10% Net Profit, you need to sell another $178.20 worth of work to compensate for your loss. If there is more than one worker in the company vehicle, multiply everything by that number. #2 Cost Per Mile - To operate the company vehicle, which varies depending on the type of vehicles your company uses. Generally, the numbers range from $1.25 to $1.75 per mile. This considers Fuel + Insurance + Repairs + Maintenance + Registration + License divided by the number of miles driven. In this example, we estimate a three-mile detour at the middle range of $1.50 per mile = $4.50. This is towards the lower-end cost and may not reflect the current prices.  #3 Delays On The Job - In construction, you are dealing with project-based systems, not operations or manufacturing-based operations. Every additional day you have to mobilize and de-mobilize costs you money. For example, if it takes (15) minutes for (4) workers to get set up in the morning and the same amount of time at night, your total costs could be $121.92 The total cost for paper checks is between $15.00 and $50.00 per employee. To get the actual results for your company, some analysis would need to be run, or you would look in your Business Process Management System (BPM) for the answers. Option 2 - Direct deposit could cost an additional $5.00 per payroll and $0.99 per deposit. Direct deposit drops into your employee's bank account one minute after midnight on the day payroll is due. Having a Professional Bookkeeper prepare the payroll is less with direct deposit because of the time saved in making and printing the paper checks, setting them aside for you to sign them, stuffing them in the envelopes, and taking time to pass them out. Option 3 - A debit Card is similar to a direct deposit. The difference is that the employee does not need a checking account. Final thoughts Everything runs smoothly during your regular pay schedule when timecards arrive on time. When employees do not turn in their timecards on schedule and expect you to have their checks ready, no worries; we have you covered. When Payroll Processing gets too complicated, it's time to outsource it.  Payroll is most effectively managed when it's simple, straightforward, and coordinated. By ensuring that our employees are paid fairly and on time, we can help to create a positive and productive work environment. When it starts getting tough to keep it that way, it's likely a sign that your company has grown and you're ready for more robust support.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 529, And It's About A Guide To Building A Solid Construction Company Marketing Plan As a contractor, having a solid business plan is essential for growing your company and attracting new clients. If you're serious about getting the best value you can for your marketing budget, you'll need to develop a marketing plan. One of the first steps is to identify your target audience. Who are your ideal clients? What are their needs and pain points? Once you understand your target audience, you can develop a marketing strategy that speaks directly to them. Building a solid construction company marketing plan is essential for any business owner looking to grow their company. With the right strategy, you can increase your brand awareness, generate leads, and ultimately boost your revenue. Some critical elements of a successful contractor marketing plan might include the following: 1. Knowing your customers Firstly, you need to identify your target market. You probably have an idea of who buys from you, but make sure you: Define your target market in detail. Write down who your target market is. To help you focus your promotions more effectively, spend time finding out about your client's preferences and habits. To get the best return on your investment, look at how your message is structured, worded, and designed – and where and when you advertise. 2. Studying your market Market research is an effective way to help find out about your target market. Ask customers for feedback directly or send them an email. Ask questions such as: Why did you hire us? What could we do better? What additional services would you like us to offer? Your clients' responses will highlight what works well and will help you attract more sales. This feedback can also help improve your service and encourage positive word-of-mouth referrals. Show that you're listening and improving where you can, and you'll gain greater customer loyalty. 3. Identifying your competitors Find out who your direct competitors are – and gather as much detailed information about them as possible. Try: Visiting their websites Reviewing their advertising and promotional leaflets. Observing their relative strengths and weaknesses. If you want consumers to differentiate between you and your competitors, develop a new marketing and advertising approach. Your competitors' weaknesses will present opportunities for you to market your points of difference. 4. Determining your competitive advantage When it comes to the construction industry, there's no shortage of competition. Many companies are vying for the same contracts and trying to build a reputation for quality work. But how can you set yourself apart from the rest? How can you create an advantage that will help you win more bids and secure more business? Sit down with your staff, advisers, and mentors to brainstorm the best competitive advantage for your business. Your competitive advantage can be anything that sets you apart from your competitors in your target market – such as price, service, or location. It should be something that: Makes you stand out from the crowd Exploits a gap in the market that your competitors haven't thought about Suits your business and the current market condition Is essential to your target customers   Use it in all your marketing after you've worked out your competitive advantage. Ensure that your competitive advantage is evident in any customer communication. One key factor is innovation. Look for ways to incorporate new materials or processes into your projects to give you an edge over your competitors. Maybe you can find a way to use eco-friendly materials that are more cost-effective in the long run. Or perhaps you can streamline your construction process to save time and money. Another factor is reputation. Word of mouth is compelling in the construction industry, so ensure you deliver quality work and treat your clients well. Be responsive to their needs and concerns, and go above and beyond to ensure their satisfaction. This will help you build a loyal customer base and attract new business through referrals. 5. Creating a promise A promise helps clarify the most crucial aspect of your business to your customers. You want the customer to value your promise or guarantee. For example, if you offer a product or money-back guarantee, you must stand by these assurances. Your customers will find out if you can't stand by your promise, and they'll quickly lose trust in you and your business. You'll also run the risk that they'll warn their friends not to hire your company. 6. Building a reliable brand You must develop an integrated marketing strategy to ensure that all your promotions, advertisements, and marketing communications convey the same unified message and consistent brand values. A solid online presence: In today's digital age, website and social media profiles are crucial. Ensure your website is easy to navigate and showcases your services and expertise. Use social media to share project updates, photos, and testimonials from satisfied clients. Networking: Building relationships with other professionals in your industry can help you generate referrals and connect with potential clients. Attend industry events, join local business organizations, and try to stay in touch with your contacts. Advertising: Depending on your budget and target audience, you may want to consider paid advertising channels such as Google Ads or Facebook Ads. Be sure to track your results and adjust your strategy as needed. Content marketing: Creating valuable content such as blog posts, videos, or infographics can help establish you as an expert in your field and attract potential clients to your website. Also, make sure you maximize the opportunity to cross-market your message. For example: Mention your website in your email signature. Market your social media presence on your website. Use your various social media platforms to cross-market content effectively. 7. Evaluating your marketing and updating your plans Measure the return on investment on all your marketing efforts and update your marketing plans based on what works and what doesn't – for your business, market conditions, and customers. Some returns are easy to quantify, like the number of sales or the sales value generated from an advert or promotion. Others are harder to put a value on like the number of followers gained on social media or the number of visitors to your website. Some are more difficult to measure, like customers' perceptions or increased brand awareness. Marketing experts will be able to advise you on the best ways to measure the hard-to-quantify parts of your marketing plan – and will help you improve your efforts for maximum results. Final thoughts Don't underestimate the power of marketing. Ensure your website and social media presence are top-notch, and invest in advertising to get your name out there. Consider partnering with local businesses or organizations to increase your visibility in the community. Remember, developing and implementing a successful marketing plan takes time and effort. Be patient and focus on your goals; you'll see results over time. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 528, And It's About Construction Accounting Concepts You Can Benefit From Today   As a small business owner, you know that managing your finances is crucial to the success of your business. But with so many accounting principles and practices, it can be challenging to know where to start. That's where we come in! This guide will break down the essential accounting principles that every small construction business owner should know. We'll discuss how these principles can help you keep track of financial transactions, create accurate financial statements, and make informed decisions for your business. So, let's dive in, shall we? Why Are Accounting Principles Important for Construction Businesses? Accounting principles are the foundation for any successful business. They provide a uniform framework for recording and reporting financial transactions, ensuring consistency and accuracy in your financial records. By adhering to these principles, you'll be able to: Make better financial decisions based on accurate and reliable data Monitor your business's performance and identify areas for improvement Meet legal and regulatory requirements for financial reporting Build trust with investors, lenders, and other stakeholders   All Accounting Uses The Same Accounting Equation Assets = Liabilities + Equity Regarding construction accounting, several concepts can be highly beneficial to understand. Here are a few you can start taking advantage of today: Construction Accounting Vs. Regular Accounting Not everyone knows what construction accounting is, and easy to assume all accounting is the same. Construction Accounting Is Used - When the entire place of business is packed up and taken to the customer. In essence, you are selling, assembling, delivering, and installing a customized product from a mobile shop on location. Think of it like shooting a movie on location without all the glamor, resources, and money to go with it. Why is there confusion? From a tax standpoint, most construction projects are all lumped together, and after the Cost of Good Sold, Expenses, and Depreciation, you either made money or didn't. The Tax Accountant rolls the numbers to compute the annual tax return. Therefore, if the information is not needed to be broken down for taxes, then the Tax Accountant is not concerned. As the Construction Contractor paying the bills, you are constantly concerned about which jobs are "Making Money or Losing Money." "Why does it seem like I am watching the money fly by and zooming out of my checking account? It never seems like there is any money left over!" Materials A construction contractor may purchase material and resell it to their customer. Thereby thinking it is a reimbursable expense. (You lose money when doing this).  Remember all invoices to the Customer (Retail, General Contractor, Spec Builder, Developer) are income. Every line item on a customer invoice is ALL INCOME. If the words are on the invoice, then the invoice is either taxable or non-taxable based on other factors. Washington State, for instance, has a clear explanation.  Purchases for the material are Cost of Goods Sold or are expenses if you are short-cutting your accounting. I have seen financial statements backed out because they will reflect reimbursable income as a negative number, thereby showing it as a deduction. (The net effect is double dipping on the expense side) The cause is that the accounting software is not correctly set up.  Cost Of Goods Sold (COGS) It appears regular bookkeepers over their heads with construction accounting are trying to figure out how to input new QuickBooks transactions by copying previous transactions. This is not an issue with regular accounting because there is only one or two costs of goods sold accounts (COGS), no direct COGS, no indirect COGS, no Work-In-Progress (WIP), no retention, no job costing allocation to consider, and only one customer "cash sale" in addition to several other variables involved in construction accounting.  For example, a material receipt arrives at the regular bookkeeper's desk from a lumber supplier, and they open the QuickBooks contractor file, look up the supplier to determine how the previous lumber purchase was coded, and proceed to code the new transaction the same way. The problem is that each transaction is unique and could go into any of a dozen accounts or item codes depending upon whether it is a direct cost, indirect cost, WIP, retention, warranty, overhead, administrative, or other costs, or simply an expense. The cumulative effect of these bookkeeping errors in one month can do enough damage to the financial and job cost reports to bankrupt a contractor eventually. Another example is if the bookkeeper generates job costing reports that are off by 10%, it could cause the contractor to make radically different decisions based on what they believe about the job costing reports. If the contractor believes the company is undercharging, they may raise bid prices, lose jobs, eventually run out of cash, and file bankruptcy. If the contractor believes the company is overcharging, they may lower bid prices, lose money on all jobs, eventually run out of cash, and file bankruptcy. Many bookkeepers have lost their jobs and are freelancing as Jack-of-All-Trades and Master-of-None bookkeepers, doing whatever work they can find, and I understand that everyone needs to eat. I would prefer they avoid contractors and stick to regular bookkeeping like retail stores. The net result is that more contractors are going out of business due to inadequate financial and job costing reports just when construction demand is about to grow. Fix the giant boulders one at a time. Get that one thing working, then move on to the next one. What is the most annoying thing you can quickly fix? We talk about accounting because that is our primary focus. Start with the basics: Open a business checking account. Use a dedicated credit card for the business (if using a personal card). Create invoices, present them to your customer, collect the money, and get it in the bank (Do you have an easy way for your clients to pay you?). Collect the money ASAP because, without cash flow, you are out of business. No - the company with the most Accounts Receivable or Accounts Payable does not win a prize. Accounts Receivable means your customers owe you money. Accounts Payable means you owe money to your suppliers. Net Profit is the money left over. You want lots of Net Profit! You are not a banker! Stop borrowing money using your credit cards, Loans, and Lines of Credit, then finance customers' projects at 0% interest. Final thoughts Becoming knowledgeable in accounting principles has the power to transform the way you run your construction business. Understanding and implementing these concepts in your construction accounting practices can improve your financial management and set your business up for long-term success. Fast Easy Accounting does the bookkeeping, accounting, and payroll and offers business coaching for small, brand-new Construction Contractors, General Contractors, Trade Contractors, and Handymen across the USA, including Alaska and Hawaii. Do the parts only you can do; leave the rest to us. You are never too small for us to help, and we can help to begin with your first day in business. Schedule your free consultation here. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 527, And It's About Leading Causes Of Stress For Contractors And How To Counter Them Construction business owners face various sources of stress that can negatively impact their well-being and overall business performance. Some leading causes of stress for construction business owners include financial pressures, tight deadlines, workforce management, safety concerns, and regulatory compliance. If not adequately addressed, these factors can lead to burnout, decreased productivity, and even business failure.  Many entrepreneurs believe hard work and determination are all it takes to build and sustain a successful business. But when you consider the pressures of running a company, it seems wise to add effective stress management to the list. Left unchecked, stress can erode your passion and undermine performance – not to mention a severe toll on your health. Are you wondering how to stop stress from derailing your productivity, profits, and overall well-being? Follow these practical tips for avoiding the main causes of "business burnout." Cause: So many tasks, so little time Solution: Without effective strategies for managing time and sharing the load, you'll be forced into a reactive versus proactive position – the perfect storm for chronic stress and impaired decision-making. Prioritize your tasks. Make a to-do list and prioritize your tasks based on urgency and importance. This will help you focus on what must be done first and avoid feeling overwhelmed. Use a project management tool to organize and assign tasks, track progress, and share results with clients. Don't try to do everything yourself. Delegate tasks to reliable and competent employees or outsource them to a trusted contractor. Hire an accountant to help you navigate taxes and implement time- and money-saving financial solutions year-round. Cause: Cash Flow Solution: All businesses, particularly start-ups, must have enough cash to keep running after covering monthly expenses. Cultivating a consistent cash flow is crucial for managing your finances and stress levels. Here are a few ways to stay cash flow positive. Follow up promptly on unpaid bills, and consider offering an incentive for early bill payment (such as a slight discount when payment is received within five days of invoicing) Be wary of slashing prices: if you must mark down a product or service, be sure you can recover your costs elsewhere. Think "less is more" when purchasing inventory to avoid sinking precious cash into excess stock. Have a trusted employee monitor your cash flow and inform you once it dips below a certain threshold. Again, this is where your construction bookkeeper comes in. I recommend reviewing your Five For Five At Five. Cause: Attracting New Clients Solution: Starting to panic because you keep missing your sales goals? Auditing your current approach and implementing better growth strategies is critical to alleviating that stress. Here are a few ideas to get started. Drill down into the behaviors and preferences of your customers, so you can better target your marketing. Analyze each step in your sales process to see where the holes are and tighten your approach. Use your audience research to develop a new product or service that fills a unique need for your customers and gives you a leg up on the competition. Practice self-care. Taking breaks throughout the day is important to clear your mind and recharge. Go for a walk, grab a snack, or do something you enjoy. Take care of yourself physically and mentally. Get enough sleep, exercise regularly, and eat a balanced diet. Consider meditation or other relaxation techniques to reduce stress. Final thoughts Starting and growing a business takes tremendous energy. But by leveraging skilled help and improving key management processes, you'll learn to pace yourself – and keep that passion burning for years to come.  Running a construction business is challenging, but taking care of yourself is essential to effectively manage your business without burning out. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 526, And It's About Becoming A Better Construction Company Owner By Developing Courage Fear is a natural, emotional response to distress. The evolution of humanity was dependent upon feeling and responding to fear. Unfortunately, for some of us, fear is a stumbling block to unlocking our full potential and becoming great leaders.  Fear can have a significant impact on business activities. If a business owner is afraid of taking risks or making decisions based on past negative experiences, it can hinder their success. It's important to remember that fear is often based on False Evidence Appearing Real or F.E.A.R. It's crucial to approach business decisions objectively and not let fear cloud judgment. By recognizing and addressing fear, business owners can make informed decisions that lead to success. The good news is that courage is like a muscle, and when you exercise courage, it often becomes more robust and more natural. Here are a handful of ways to overcome fear, find courage and become a better construction company owner. 1. Don't lose your sense of direction If you struggle to lead in your construction business or manage your employees, staying connected to your purpose for making your decisions is essential. If you lose your sense of direction, the people you are leading may begin to question your ability and authority. When giving instructions to someone you are charged with leading, be specific about what needs to be done and why. 2. Visualize all of the possible outcomes Visualizing a negative outcome may seem counter-intuitive to building courage; however, realizing that the worst that could happen is not fatal in most situations is incredibly beneficial. Conversely, visualizing a positive and prosperous outcome can give you the bravery to make risky choices and stand behind them occasionally. 3. Be willing to do what other leaders won't If you are surrounded by leaders who continually play it safe but are sensing a need to take the road less traveled and make a bold decision, be willing to do it! The fear of people around you disapproving of your choices can be crippling. But the sense of pride when you carefully calculate your options and make a bold choice that turns out well, will strengthen your sense of courage. 4. Carefully consider the opinions of people around you You don't need to allow yourself to be persuaded by the opinions of others in any way, but occasionally a new view from someone with less experience can bring new life into your construction business. Don't let your employee's inexperience cause you to overlook the great ideas they may occasionally have. Be willing to do things someone else's way occasionally bravely, and your courage will undoubtedly increase. 5. Be willing to commit to success Have the inner strength and courage to keep going even when things get tough because you know that everything will work out in the end; if something has not worked out yet, it is not the end. 6. Make the hard decision and say "no" As uncomfortable as it can be to shut down someone's idea, it is necessary sometimes. Next time someone has an opinion you are completely uncomfortable with, respond by telling them no. Often, no explanation is better than a long explanation when you disagree with a person's idea. As a leader, it is right to go with your gut instinct and override decisions you disagree with. Saying no to bad ideas will increase your courage and even the level of respect your employees have for you. As you can see, building courage is not a complicated process. Building courage is simply taking small steps in your daily life and being unapologetic about doing what you know is right. If you are willing to commit to taking the above steps as a leader, you will soon become more confident in your decisions! Many leaders struggle to feel courageous regardless of their time leading. Fear on all sides Contractors without financial reporting systems they can trust to generate accurate Key Performance Indicators and Reliable Job Cost Reports do not know if they are making or losing money from day to day, which leads to doubt which leads to stress, and they tend to work faster and harder. This frantic behavior raises everyone's stress level, affecting your team, project, and client. Contractors are superheroes! What is your Contractor Superpower? The power of choice.  Increase your pricing Which projects do you say YES to Collect job deposits Ask the client for money Your working hours The area of the country where you want to live You can choose what is best for you, your loved ones, and your construction company. It is easy to listen to the news and become depressed, agitated, or think the day's challenges are hopeless to overcome. Mother Teresa (of Calcutta) said it best: We, the willing, led by the unknowing, are doing the impossible for the ungrateful. We have done so much, with so little, for so long; we are now qualified to do anything with nothing. Final thoughts The rough and tumble world of construction company ownership is not for the weak or the timid. It is an arena where the price of admission is a lot of blood, sweat, tears, long nights, and lost sleep, with peaks of enthusiasm and depths of despair. It can feel like riding a roller coaster operated by a madman trying to convince you to get off, get out and do something more relaxing, like teaching a pig to sing! With careful planning and a solid strategy, you can overcome any obstacles that come your way. Don't be afraid to take risks and think outside the box. Remember, the greatest successes often come from taking bold actions. So be brave, stay focused, and keep pushing forward. Your construction business dreams are within reach! Life is a journey that happens one day at a time, one decision at a time, one choice at a time. Tomorrow is a new day with every potential of being happier if we allow it. We will continue empowering and advocating for contractors and construction business owners like you. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 525, And It's About Building A Competitive Advantage In The Construction Industry A competitive advantage is something that you offer or have that the competitor does not. There must be compelling reasons for people to do business with you rather than with other construction companies. The need to identify your point of difference is essential. The more similar your business is to many others, the greater your need to develop competitive advantages. The key to benefitting from the competition is knowing how to take on competitors so your company earns a profit effectively. Look into your industry and the successful contractors around you not to lose sight of your vision for your construction company but as an inspiration to guide your systems and processes. Identifying your advantage A competitive advantage is what you are better at doing than anyone else. The wiser you can be about developing and promoting your competitive advantage, the better placed your business will be to succeed. Think about how you can differentiate yourself: Low pricing – you're able to supply the most budget-friendly service. Specialization – you service a specific niche market better than anyone else. Differentiation – you have the same service as others, but you make it different. Specialization and differentiation are the most common small business strategies because more significant businesses can usually get bulk deals and compete on price. Being affordable is the most straightforward tactic to implement (reduce all your fees but know your worth), though this is the last thing to consider, as it is often a losing strategy. The chances that you can be the cheapest and survive are not good because you will usually compete against companies with far more financial muscle than you have. Having the most considerable margins is your ultimate goal. You can position yourself away from the cheap end of the market if you develop other competitive advantages, such as excellent, friendly service, good after-sales service, a more specialized range of products, more knowledgeable staff, and so on. Here are some ways to get ahead of your competition and grow your construction business: 1. Awesome staff Your staff will be one of your best (or worst) competitive advantages. The advantage of having friendly, knowledgeable, proactive staff must never be underestimated. The key is ensuring your staff is motivated, trained, and performing well. Do this by: Establishing clear performance standards. Starting incentive schemes. Sending them on training courses. Encouraging them to develop their product/service knowledge. Holding yearly selling courses. 2. Unique or exclusive products You have an advantage if you can source products or deliver services that the competition cannot. If you're competing against larger or similar businesses, can you establish a reputation for unique products people can't find anywhere else? 3. A great website A website that is more attractive or easier to navigate than competitors can be a distinct advantage. Can you create a better, more effortless online scheduling experience? More competitive payment options? 4. Become a star Your own image can be a competitive advantage. No one else has quite your mix of skills, and you can build a 'character owner' image by having your name on as much material as possible, including: A signed mission statement for online and in-person visitors. Signing your name at the end of all newsletters and correspondence. Offering personal guarantees. Becoming prominent in your community. Becoming an authority in your field and a spokesperson for the industry. 5. Brush up on your technical knowledge If you can't compete on price, offer superior knowledge to other businesses around you. Consequently, it would be best to ensure staff are well trained. You could ask your suppliers to provide training. 6. Get to know your suppliers Being on good terms with your suppliers and their sales representatives is an often-overlooked competitive advantage over other businesses that haven't bothered to develop this closeness. A good relationship will provide the following: Better service and support.  Better supply and faster delivery. Better return policy and customer support. Early notification of specials or discounts. You might get promotional material, displays, signs, and staff training. Being linked to a large, well-known supplier is a definite competitive advantage. They might do most of the market research, develop new products, conduct customer analysis, and provide nationwide branding and advertising that enhances your credibility. An independent will find it more challenging to compete with you. 7. Display your other services To gain an advantage, offer things that the competitors don't, especially if they cost very little. Sometimes this may involve displaying what you already do for customers, but most may have been unaware of it. Don't simply expect customers to be automatically aware of your competitive advantages. You must advertise and promote them. 8. Strategic alliances and joint ventures One of the best ways to compete against larger businesses is to form alliances and joint ventures with other companies. For example, by banding together with other businesses in your industry, you can often gain better group discounts from suppliers than you would if you ordered on your own. The ability to form intelligent alliances and joint ventures is an increasingly essential and distinguishing feature in the success of many businesses. Joint venture marketing is another way of sharing advertising costs. You can brainstorm many variations on this theme with your staff. 9. Speed People want quick service, so the faster you can deliver your product or service, the better. Hold regular staff meetings on how to streamline your business processes and fulfill or exceed client requirements without sacrificing the quality of delivery. Final thoughts There's room enough in most industries for competition. While knowing who you're up against is a good idea, ultimately, your clients are your priority. Focus on providing meaningful goods and services to them, addressing their pain points, and improving their lives. Market yourself to make those aspects clear. Show them why you're the ideal company to hire for their project.   Using these strategies can effectively take on the competition and help your construction business be successful. Take it one step further by hiring an expert to help you with the things you are not an expert on - for instance, hiring a Website/Social Media Manager to take care of your online presence, as this is your digital office.  Of course, a financial advisor or a construction accountant who has been where you want to go and can guide you will benefit your construction business. We want to be that person for you. Optimize your time and skills by doing what you love and do best. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 524, And It's About How To Increase Your Construction Business Profit In Three Months Sales and profit are two very different things – as a construction business owner, you can find yourself without the cash to pay bills despite making sales you knew were profitable. You may also be startled to discover that solid cash flows from sales deliver little profit.   A cash flow forecast tracks cash flowing in and out of your business. The timing of these flows enables you to identify cash-rich and cash-lean periods. This helps make the right decisions, such as buying assets or preparing for cash shortfalls.   Cash flow is essential to the survival of your business – arguably more so than profit in the short term. Profit may be necessary for the longer term, but cash is needed to pay bills and operating costs quickly.   For example, if you're a plumber with reasonable cash reserves, you can survive until your business becomes profitable. However, if your business runs out of cash, you'll need to find a solution quickly to avoid going bankrupt.   Profit is the money left in your business after all your expenses have been paid. An income statement (also referred to as a profit and loss report) reveals what profit your construction company made last month or last quarter. Your profit's detailed in two figures, namely: Gross profit is what's left from sales after deducting the costs of goods sold or services provided. Net profit is left from gross profit after operating expenses (your business overheads) are deducted. Note that net profit isn't the final 'bottom line' profit until all taxes have been paid. Gaining more significant profits depends on accomplishing all the little things better – rather than making one huge change. You'll need to focus on every detail to reduce expenses and increase your sales turnover over the next 90 days. Decreasing your costs For most small businesses, reducing costs is the easiest way to increase profitability. Reducing direct costs can dramatically increase your sales profit while eliminating unnecessary business overheads. Challenging your direct costs Identify the steps you can take to minimize your direct costs, such as: Negotiating lower prices with your suppliers. Reviewing processes and systems to minimize waste. Implementing additional security to reduce the chance of theft. For example, you may have had one material supplier over the last five years. It might be time to challenge your supplier on their wholesale prices while introducing yourself to others who might do a better deal. Some of your business costs, such as insurance, power, and the Internet, could be put out to tender. The value of effective systems Practical systems help you minimize errors – and save time and money. The time invested in creating designs is usually minimal compared to solving a problem from scratch. Where appropriate, turn decisions into policies to avoid making the same decision again – or sort out the same issues repetitively. Learn from mistakes and problem areas, and if systems go wrong, fix them. It's a wise idea to review your procedures periodically to see where improvements can be made. For example, if your software firm decides to place all its information on a central server to ensure staff can access it at any time, hours of productivity can be saved each week. Stay focused on profitability Focusing staff awareness on profitability can have a dramatic impact. Even if cash flow is your top priority, it shouldn't be at the expense of profitability. Monitor your actual costs against your budgets and your sales against your forecasts. Measure staff performance Monitor and measure staff performance and productivity. Be sure to reward productive staff members by linking pay rates to effectiveness. It's important to praise and thank the staff when it's been earned. Aim to provide a clear career path so your team can grow, and they don't see their prospects as limited. Aspire to get constant improvement A simple planning cycle dramatically enhances your ability to make continuous improvements. Thorough planning also helps you anticipate problems and adapt as your circumstances change. Aim to: Set measurable, time-limited targets – to monitor how effectively your plans are implemented. Review what you've achieved to learn from your experiences and continuously improve. Keep improving your underlying systems and planning process, but be ready to alter your strategy if necessary. Increasing your turnover To improve your turnover, look for new markets and distribution channels. Some ideas to help you increase turnover include: for instance, are you making the best use of the Internet? Can you form a strategic alliance with a complementary business or a joint venture to tackle work you don't have the resources for? Actively selling – simply taking orders won't ensure your survival as a business. Aim to gain more sales by being proactive. Retaining existing customers – through outstanding service and placing value on lifetime patronage. Maximizing the value of your sales – consider moving upmarket and providing a premium product or service. Add features to your offerings if the perceived value to customers is greater than the cost to you. Keep your products or services up-to-date – extend your product range or work to ensure it stays ahead of your competition. Focus your efforts on your most profitable customers – look after your customers who place large or frequent orders, pay their bills on time, and are low maintenance. Review your profit margins To improve overall profitability, review your sales and profit margins periodically. Divide your services or products into four categories, namely: High percentage of sales and high-profit margins – nurture these stars. High percentage of sales but low-profit margins – consider a price increase and examine how you can cut costs to increase your profit margins. Low percentage of sales but high-profit margins – consider a sales push. Low percentage of sales and low-profit margins – eliminate these where possible. Consider any possible effects before making decisions. For example, a low-profit product might be the one that brings other businesses from a significant, highly profitable customer. It's possible to run out of cash or go bankrupt by taking on too much business too quickly, even though each sale is profitable. This is called overtrading – companies that sell on credit rather than cash terms are more at risk. Remember, use O.P.M. - Other People's Money. Final thoughts Familiarize yourself with the reports your accounting software can generate to track long-term trends, identify and mitigate risk, and discover new ways to increase profitability. Talk to your accountant about your construction business's most important reports and metrics and how to utilize them.  You don't have to go through this alone. Don't try to manage your company's finances all by yourself.  Collaborate with a trusted professional, invest in quality IT solutions, and spend some time familiarizing yourself with relevant tools and trends. Whether you improve your profits in three months, implementing these processes will result in better construction business management. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 523, And It's About Ways To Keep Your Construction Company Sustainable Taking steps to create a good foundation in the early days of your business is essential for a sustainable and profitable future.  It's rare these days that your prospective leads happen to find your construction business and become a client with no work. Your company has to grab people's attention, turn curious visitors into leads and then convert those leads into sales. Keep in mind: Marketing-Accounting-Production The first thing I would like to point out is: 1. Don't neglect Marketing Entrepreneurs like you are incredibly busy, and finding the time to promote your business can be a real challenge. The other challenge for new trade companies is money—but every small business needs to invest in marketing activities to increase sales and keep the cash flow flowing. It's wise to be wary of costly large-scale marketing strategies when you're just starting. The best use of your time in the early days is getting to know your clients and how they tick so that you can design (or hire an expert to mastermind) highly appealing, cost-effective campaigns. And don't turn a blind eye to what your competitors are up to. Monitor how they attract new customers and think about how you can improve on what they're doing—or take a completely different approach to promote your business that will help your young brand stand apart. This means that the more solid leads you have, the greater your chances of making a sale. Solid leads are contacts engaged in your business, fit your client persona, and are at least somewhat motivated to hire your service. Here are four great ways to get more leads for your business: 1. Target your ideal clients You might want your business to be relevant to everybody, but the reality is that there is a specific target client who is ideal for your business. Those clients are the ones who are most likely to be attracted to your services and, therefore, the most likely to hire you. These are the people to aim your marketing at. Knowing who they are and what they like helps you develop the products and services they'll use. It also saves you money on marketing because you can target your ideal clients rather than marketing to everybody and hoping somebody shows interest. Even more critical, when you understand your ideal clients, you can build connections with them more effectively, generating leads that can turn into sales. 2. Know your unique value proposition Your unique value proposition is what makes you different from your competition. Every business has something that sets it apart and attracts a specific market. Your products or services might be of a higher quality. You might have better loyalty programs or more specialized staff. Even the size of your business can be a unique value proposition. Smaller companies can claim more personal, attentive, and efficient service for their clients.  Determine what differentiates your construction business from your competition and use that uniqueness in your marketing. 3. Attend networking events Yes, in-person marketing takes time and energy, and you can only talk to so many people simultaneously. But hearing an entrepreneur speak passionately about their business can be very persuasive. Networking events are a great way to get face-to-face time with potential leads. Meeting people at events lets you talk directly to potential clients and hear what issues must be solved. Just make sure the networking events you attend are relevant to your business and are functions that your ideal clients attend. Otherwise, you'll be wasting that valuable time and energy. 4. Create high-value content With so many people using the Internet to find companies and make purchasing decisions, you must ensure your business is easily found. That means developing attractive, high-value, informative website content that is compelling and encourages page visitors to submit their contact information. Make sure you use engaging calls to action. Write blog posts that drive traffic to your website. Develop tip sheets that quickly address some of your clients' issues and get people to sign-up to receive them. Create a newsletter that clients or customers can subscribe to. The people on your newsletter subscription list become leads. However, ensure your content is timely, engaging, and relevant to your clients and business. Now that you got Marketing handled let's move to Accounting. 2. Keep your eyes on the numbers If you're starting, you may be surprised by how quickly those day-to-day expenses add up. It's essential to make sure, right from day one, that you consistently track your spending, file your receipts, and monitor your income and expenses with an easy, reliable accounting system. Cloud-based accounting software (like Xero) can help you know exactly where your finances stand in real time—with secure access to accurate, up-to-date financial data anywhere, anytime. In addition to collaborating more efficiently with your bookkeeper and accountant so you can get advice whenever you need it, you'll avoid the stress and hassle come tax time—and be empowered every day to make better, more intelligent business decisions. Touching base with your business advisor is valuable. Every successful entrepreneur learns from experience—not to mention failure, which can be the greatest of all teachers. While it's true that "you don't know what you don't know," you can shrink your learning curve by reaching out to experienced mentors for guidance. Consider working with a small construction business accountant who can provide personalized advice to help you make it through the first year—and an ongoing objective perspective on your business, industry, and market in the future. And last, let's talk about Production: 3. Take care of your employees Your business is nothing without your employees; happy employees are more productive, motivated, and loyal. Smart construction business owners know it's worth spending a little extra money to ensure you have the best employees on your staff and reward them for their hard work.  When you can, spend money on your crew, offer bonuses or gifts for meeting their goals or exceptional service, provide better-than-average benefits plans, give them opportunities for training, or increase their salaries. Happy employees give more to your business. They reduce the turnover rate, saving you the cost and headache of finding and training new workers. Plus, your clients like seeing consistency in your staff, so they'll appreciate that you keep your workers happy. Alone? I hear you. The reality is that as a small business owner, you DO NOT HAVE to hire employees. Invest in yourself, and outsource the most mundane low-value tasks that take time away from what you are skilled in. Remember that you are your company's most important employee. It's been said many times that a business is like a baby—and it can be challenging for entrepreneurs to trust someone enough to hand over any aspect of it. Many construction business owners work to exhaustion because they can't let themselves take a weekend off. They neglect their most important relationships and never get to enjoy their successes because there's always more to do. Final thoughts Leads don't just magically appear out of thin air. Developing solid contacts that turn into paying clients takes time and work. By knowing who your ideal clients are, understanding your unique value proposition, putting in some face-to-face time, and developing relevant content, you can quickly increase your solid leads this year.  The most successful entrepreneurs know they can't do it all—nor should they—and build in time for rest so they can be more productive at work. Train someone early on to run the business in your absence so you can take a rejuvenating vacation and enjoy the freedom you likely dreamed of when you first imagined going into the construction business for yourself. Now, you have a road MAP to sustain your construction company for success, and all you have left is to assemble the tools, equipment, and staff to set up your trucks and vans and go to work! About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 522, And It's About Increasing Construction Company Profitability Through Better Practices If you feel overwhelmed by the sheer volume of technological gadgets, never mind apps and other digital "solutions,"; you're not alone. Technology sprawl and the rabbit hole of more and more information available all the time makes productivity—and healthy downtime—a real challenge for many of us. Although we may be quicker at completing redundant tasks, more time is wasted managing all our different apps and technologies—and more of us live in a near-constant state of distraction. An epidemic of distracted workers Maintaining focus on the job is increasingly difficult in the era of social media, chat apps, games, and the ability to search for anything at any time—whether related to the task at hand or not. Recent research shows that, on average, office workers switch between tasks roughly every three minutes. Half of those "task switches" were not because the phone rang or someone stopped by with a question—they were self-interruptions. The same study showed that when an interruption is related to the primary task, it isn't a problem for the worker to maintain focus when the interruption ends. But when people have to "shift their cognitive resources" to a new task, it takes longer to remember where they were, refocus, and regain momentum. If your team isn't working across the same devices, platforms, and apps, imagine the increased inefficiency as workers spend more time dealing with incompatibility issues. For anyone moving between several decentralized apps during the workday, the cost is mental exhaustion—which can lead to an increased lack of focus and even less productivity. Tools and tips for increasing efficiency No matter how much we'd like to improve our productivity, multitasking is a myth; most humans can only perform one task well at a time. It seems there are never enough hours in the day to complete every job on your list. Often you're faced with prioritizing what you need to do right now – deal with a customer, meet a deadline, attend an event – and the things you know you should do for the ongoing growth of your construction business. Scheduling time to attend to these business activities regularly is a great way to get on track for tremendous success. 1. If you must use a computer at work To help minimize the temptation to check Facebook or random search, focus on your to-do list and block all digital distractions, like placing your smartphone next to you, so you can focus on just what's in front of you. Another tip is to batch email rather than reading and responding to messages continually. Sending emails twice a day—once in the morning and again in the afternoon—will train people not to expect to hear from you instantly, creating more reasonable (and sane) expectations. No one can or should be available to work around the clock for our own personal and collective well-being. 2. Know your numbers It's not uncommon for business owners to lose touch with how well their business is performing daily. But an awareness of your real-time income and expenses is the key to making better decisions that will nurture growth. Implement these changes and see the difference they make in your business: Switch to an online accounting solution offering access to real-time data anywhere. Monitor your finances daily, weekly, monthly, and quarterly; review the data with your accountant often. Check-in on your other numbers – your website metrics and software analytics – to know whether your marketing, lead generation and sales tactics are working. 3. Update your business plan Construction companies should update their business plan at least once a year—sooner if an upcoming change requires planning, financing, or re-assigning resources (for instance, a service launch or a new side business). Many trade business owners neglect to revise their plans regularly. They end up operating on autopilot, losing sight of their bigger goals and the steps they planned to take their business to the next level. Set goals, mark milestones, and start implementing your plans. Look at your previous year's books to plan with your latest annual figures in mind. 4. Hire help It sounds simple, but many entrepreneurs' self-sufficient, independent nature can make it difficult to get comfortable delegating responsibility. Finding the right people to relieve the burden of doing everything all the time is the only way a business can scale and reach its potential. Think carefully about how you spend your days. Are you still at the point where you want to – or need to – do it all? The ultimate success of any company is to reach the point where it can run without you, so you can enjoy a holiday, pass the business on to a family member, or sell it. Finding the right people you can trust to perform their jobs well and continue to grow your business can take time. A recruitment agency can help you craft an attractive job description and recruit so you can focus on strategies that can bring you greater enjoyment and success. 5. Unplug Perhaps most importantly, unplug and rest your mind each day. A week or two of time off, away from work, email, and other stress-inducing distractions, will do more to increase your productivity than any app. And be good to yourself by taking a health break each year. Bottomline Remember, you can do anything, but not everything. Developing new business habits takes time and commitment – but the payoff is well worth it! Monitor how creating and implementing these practices in your construction business improves company performance.  About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 521, And It's About Unlocking The Secrets Of Small Construction Business Cash Flow Cash is king! Construction Company cash flow is the movement of money in and out of your Construction Company; these movements are known in accounting circles as inflow and outflow. Inflows for your Construction Company primarily come from selling goods or services to your customers, but keep in mind that inflow only occurs when you make a cash sale or collect on receivables. Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest. Outflows for your Construction Company are generally the result of paying labor, material, other direct and indirect costs of goods sold, and overhead expenses. Is Cash Flow Same As Profit? While they might seem similar, profit and cash flow are two entirely different concepts, each with completely different results. Profit helps calculate your taxes and report to the IRS. The idea of profit is somewhat broad and only looks at income and expenses over a certain period, say a fiscal quarter. Cash flow, on the other hand, is a more dynamic tool focusing on the day-to-day operations of a Construction Company owner. It is concerned with money movement in and out of a Construction Company. However, more important, it is concerned with the times when the direction of the money occurs. In theory, even profitable Construction Companies can go bankrupt. It would take a lot of negligence and total disregard for cash flow, but it is possible. Consider how profit and cash flow relate to your Construction Company. Example: If your retail Construction Company bought a $1,000 item and turned around to sell it for $2,000, then you have made a $1,000 profit. However, what if the item's buyer is slow to pay their bill, and six months pass before you collect on the account? Your Construction Company may show a profit, but what about the bills it has to pay during those six months? You may not have the cash to pay the bills despite the profits you earned on the sale. Furthermore, this cash flow gap may cause you to miss other profit opportunities, damage your credit rating, and force you to take out loans and create debt. If this mistake is repeated enough times, you may go bankrupt. Maintaining a healthy cash flow is essential for a small business's sustainability and growth. Your construction business can be incredibly profitable but fail because of improper cash flow management. To prevent that from happening, here are some best practices that can help you better manage your cash flow and maintain the financial health of your small business. Remember, being proactive and vigilant about your finances is the key to success.  Let's dive in! 1. Understand Your Cash Flow Cycle Before managing your cash flow, you must understand your cash flow cycle. This involves tracking when money comes into your business and when it goes out. You can identify patterns and potential issues by examining the timing and sources of your cash inflows and outflows. For example, you'll notice periods with higher expenses and lower profits or the reverse.  This information helps you make informed decisions on maintaining a positive cash flow. For example, you might offer more sales during your slow periods or find ways to cut costs.  2. Develop Accurate Financial Forecasts Financial forecasting is crucial to cash flow management, allowing you to anticipate your cash flow cycles. Regularly create and update cash flow projections, considering expected sales, expenses, and other relevant factors. Accurate economic forecasts will help you identify potential cash shortages or surpluses and effectively make informed resource allocation decisions. For example, you might hold off buying new equipment this month because the next two months are expected to be slower financially, then make the purchases when you have more cash coming in.  3. Monitor Your Cash Flow Regularly Just like a doctor checks a patient's vital signs, you should monitor your cash flow regularly to maintain your business's financial health. This means periodically reviewing your cash flow statements, balance sheets, and income statements. Doing this lets you spot issues early on, such as late payments or unexpected expenses, and take corrective action before they become significant problems. 4. Maintain an Emergency Fund Unexpected expenses are a fact of life for any business. To mitigate their impact on your cash flow, establish an emergency fund. This reserve can cover unexpected costs or tide you over during periods of slow cash inflow.  Ideally, your emergency fund should be able to cover at least three months' worth of operating expenses. Not only will this help your finances, but it will also give you peace of mind because you know you'll have breathing room in an emergency.  5. Invoice Promptly and Efficiently Although invoicing is vital to your cash flow, many small business owners put off invoicing and following up on unpaid invoices.  You must invoice your clients promptly and efficiently to maintain your cash flow. This means using accurate invoicing software, setting clear payment terms, and providing convenient payment options for your customers. If you have clients with accounts payable processes, ensure you understand the process and their payment cycles so you don't wind up waiting months for payment. Additionally, follow up on overdue invoices promptly. The sooner you invoice and follow up, the sooner you'll get paid. 6. Encourage Early Payments Offer incentives for customers to pay early, such as discounts or other perks. This can help increase cash coming in and provide a buffer for cash flow management. Additionally, consider implementing payment milestones for large projects, where customers pay a portion of the invoice at specific intervals throughout the project. 7. Keep Your Expenses in Check To maintain a positive cash flow, it's essential to keep your expenses under control. Regularly review your expenses, identify areas where you can cut costs, and negotiate better terms with suppliers. Remember also to check your ongoing subscriptions and automatic payments. You may be paying a lot for products you don't use.  8. Use Technology Embrace technology to streamline your cash flow management. By leveraging technology, you can save time and effort, allowing you to focus on growing your business. There are many tools available that can help you track expenses, create financial forecasts, and automate invoicing. Chat with us to get our recommendations for your business.  9. Seek Professional Guidance Financial professionals provide valuable guidance and insights on managing your cash flow. They will identify potential issues and develop strategies to maintain a healthy cash flow.  Working with a construction accounting specialist can help you avoid costly mistakes and make well-informed financial decisions, which is well worth it in the long run.  The bottom line Effectively managing your cash flow is crucial for the success and growth of your small construction business. By understanding your cash flow cycle, developing accurate financial forecasts, monitoring your cash flow regularly, and implementing the better practices discussed in this blog post, you can maintain a healthy financial position and pave the way for sustainable growth. Monitoring and managing your cash flow is essential for the vitality of your Construction Company. The first signs of financial woe appear in your cash flow statement, giving you time to recognize a forthcoming problem and plan a strategy to deal with it. Furthermore, with periodic cash flow analysis, you can head off those unpleasant financial glitches by recognizing which aspects of your Construction Company can potentially cause cash flow gaps. Need assistance? We can help you analyze and manage your cash flow more effectively and ensure your Construction Company has adequate funds to cover day-to-day expenses. About The Author: Sharie DeHart, QPA, co-founded 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. She offers insights on managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 520, And It's About The Problem With High-Profit Jobs In The Construction Industry Many problems can be traced back to the "Halo Effect," which happens when a contractor thinks, "We are so good at (fill in the blank) we should expand into (fill in the blank)." The most common situation is when a residential remodel contractor with a reputation and a substantial company generating 15% or more profits decides to start building custom homes. Or the opposite, a home builder who decides to branch out into residential remodeling. Residential Remodel Contractor Building A Home The processes, tools, equipment, materials, skills, and invoicing procedures required to build a house from the ground up differ entirely from modifying a home with people living there. The remodeling contractor uses a form of "Cost Plus" or "Not To Exceed" to provide the homeowner with the scope of work and a contract price the bank needs to finance the construction. That process can work for a residential remodel because the house is already in place, which helps define the size and scope of the project. The size and scope of the homeowner's dream house are limited only by what the building codes will allow. When the labor, material, other costs, and subcontractor bills pile up, the remodeling contractor asks for a construction draw and is told the bank needs a Pay Application filled out and submitted. Then it will take a while for the bank inspector to review the project and approve the draw. This is when the remodeling contractor figures out they are providing all the labor, material, other costs, and subcontractor expense up front and getting paid only when and if the building inspectors, architect, bank, and the client agree to the draw request. Home Builder Doing A Residential Remodel The processes, tools, equipment, materials, skills, and invoicing procedures required to modify a home with people living in it differ entirely from building a house from the ground up. New construction workers are more like cave dwellers with a brute-force mentality. If something doesn't fit or will not work the way they want, they use more brute force until it does. Every problem has one answer "Brute Force." The same goes for managing sub-contractors and suppliers. The home builder bids on a residential remodel project using the exact square foot costs they have continuously operated in building houses and quickly discovers the meaning of "Hidden Costs." These costs include dry rot, cracked foundations, broken plumbing, bad wiring, worn-out HVAC, and other unpleasant surprises. Homeowners living in the house while the remodel is happening do not ever want to be without water, lights, heat, and privacy, and they don't know how much debris, dust, and noise is involved in a remodel. Homeowners want to believe everything is included in the original contract price, including the little extras they think of along the way. When it comes to change orders, that is something most home builders do not understand. They don't have a process for tracking them, let alone pricing and getting paid for doing them. Most trade contractors and subcontractors working on residential remodel projects understand change orders and how to pressure the builder to get paid. Too often, this is the main reason home builders go bankrupt - cash flow issues. The Solution Most construction business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses, and view real-time financial reports to manage cash flow and make better business decisions. The problem is that high-profit jobs have a way of turning into low or no-profit jobs, and in some cases, they can bankrupt your construction company because you bid on the project using whatever model you are accustomed to using, and in the end, you wind up with cash flow problems. But what many business owners don't take advantage of are key insights that can improve customer care and increase sales. With the help of your accounting software, you can continue to provide services that you're good at, work on improving them, and help boost your bottom line. Gain insights that increase sales If you're not tapping into your accounting software analytics to better understand your clients, you're missing a significant opportunity to close more sales. Most accounting software can highlight your biggest spenders and buying trends. Knowing who your best clients are, your most extensive selling products and services, and how much each customer spends impact your marketing decisions – not to mention - help you fine-tune your sales strategies. Improve customer care and boost profits Accounting software can offer peace of mind when you know your financials are accurate and up to date. But another significant advantage of an online accounting solution is how much time you'll save by automating processes like invoicing and payroll – giving you more time to follow up with clients and seek out new prospects. We all know how important the personal touch is in sales. So why not use your accounting software client data to help remember your customers' birthdays or thank them when they've hit a milestone – being on your subscription service for five years, for example? With enhanced customer data at your fingertips, your construction business will earn a reputation for personalized service. You'll be able to respond quickly when a client calls with a question about a service. And you'll be able to suggest substitutions and offer valuable add-ons based on their buying preferences, so upselling becomes a snap. How will you use accounting software to grow your small contracting business? Savvy construction business owners take the first step toward better profitability when they stop thinking of accounting software as a financial management solution and consider it a comprehensive tool for business growth. You may be surprised at how accounting software can help you better serve your customers or improve your sales strategies when you look at its true potential. Final Thoughts For your construction company to survive and thrive in any economy, you must pick a niche market and develop your Strategic Business Process Management System (BPM) with written goals of what you want to accomplish and how much money you want to earn. Once you have picked your construction specialty, stick with it no matter what, and in the end, you will have the best chance of making much money and retiring wealthy. All contractors who try to do the right thing deserve to be rich because they bring value to other people's lives. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 519, And It's About Using Financial Reconciliation To Keep Your Construction Business On Track   As a small business owner, you're likely already aware of the importance of keeping your finances in order. Financial management goes deeper than paying your bills on time and collecting invoices (although those are also important). It involves regularly checking your financial situation to ensure your accounts are in order, your records are up-to-date, and you're spending within your budget. Among those activities, financial reconciliation is vital in keeping your finances and business on track. Force reconciliations can cause your net income to be over or understated, which means you pay too much in taxes now or too little now and the rest later with penalties and interest because the IRS can ask for a copy of your bookkeeping record.    Here's what you should know about financial reconciliation and how it can help your construction business. What is financial reconciliation? Financial reconciliation is a process of ensuring your financial records are consistent and accurate. When you conduct a financial reconciliation, you review financial statements and compare them with your bank statements, credit card statements, vendor statements, and other relevant financial records, such as invoices.  As you do this, you'll look for errors or discrepancies–for example, if a payment appears on your bank statement but not your accounting records or the costs are for different amounts on different records. When you conduct a financial reconciliation, you want to ensure that the money in your bank account matches the money your financial documents show you should have. Discrepancies need to be addressed, or you'll wind up with financial information that isn't accurate, which affects your cash flow and your ability to make financial decisions. If the discrepancy involves an ongoing payment to you or a vendor, catching it early could save you much money.   Financial reconciliation ensures that all financial transactions are recorded accurately and thoroughly in your accounting system. That way, you know exactly how much money you have and how much is moving into and out of your business, and you can make informed financial decisions.  Types of financial reconciliation Every business has different reconciliation needs, depending on how big, how many, and what types of transactions it has. Bank reconciliation involves your business's bank statement to your accounting records to ensure that all transactions have been recorded correctly. You're looking to safeguard your bank statement's bottom line matches your bank account balance. If not, you'll want to determine why. Is there an automatic withdrawal not yet posted to your account? If so, you need to be aware of it to prevent yourself from overdrawing on your account.  Credit card reconciliation involves reconciling your business's credit card statements with your accounting records to ensure that all charges have been recorded accurately. This is similar to a bank reconciliation in that you need to know exactly how much you've spent on your credit card–including pending transactions–to understand how much you have available.  You can also conduct vendor statement reconciliation, examining your vendor statements against your accounting records to ensure all invoices have been paid and recorded accurately. This can prevent any errors in paying your vendors.  You'll need to conduct intercompany reconciliation if you have two units of business or more–such as divisions, subsidiaries, or franchises. This is where you compare financial records between two or more companies to ensure transactions are recorded accurately and consistently. Why you need financial reconciliation Financial reconciliation is a vital tool that helps you manage your business more effectively. It ensures your financial records are accurate, complete, and up-to-date. This prevents errors or discrepancies that could lead to financial losses or legal or compliance issues. It can also help identify any fraudulent activity or transactions you disapprove of, protecting you against fraud and lessening the risk of financial losses. If you have numerous transactions that are difficult to track, regular financial reconciliation prevents accidental overspending or missed payments that could ultimately affect your relationships with vendors. As mentioned above, many businesses must comply with financial regulations and reporting requirements. Financial reconciliation helps ensure that your business complies with these requirements. If you're not compliant, you can take measures to address the issue quickly before it gets out of control.  How to conduct financial reconciliation If you're looking to establish a solid, repeatable process, these are a few steps you can take:  Step 1: Identity what types of financial reconciliation you need to perform.  Step 2: Establish roles and responsibilities for each team member involved. Make sure everyone knows and understands what they are responsible for and when. Step 3: Create a schedule for conducting financial reconciliation regularly. This may vary depending on the size of your business, and you may perform different types of reconciliation on various programs depending on your unique business needs.  Step 4: Ensure all financial data is easily accessible to those who need it. Each time you conduct a financial reconciliation, ensure you have all the necessary documentation and data. Cloud accounting software can help you manage your reconciliation. Step 5: Conduct the reconciliation: Compare your financial statements to your accounting records to identify discrepancies or errors.  Step 6: Investigate and resolve discrepancies: If you find errors or inconsistencies, look into them and do what you can to fix them. You may have to hunt down additional paperwork, contact vendors to discuss payments, or contact your bank or credit card issuer.  Final thoughts As a construction business owner, you must make vital decisions to move your company forward. Accurate financial records enable you to make those decisions based on your cash flow and current financial standing.  Bank and credit card accounts are the hubs of all your construction accounting and bookkeeping, meaning all transactions must be coded and input properly to have meaningful, reliable reports. If you have questions about financial reconciliation or other important financial aspects of your business, don't hesitate to contact us. We're always happy to answer questions and show you how we can simplify business management. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 518, And It's About How To Protect Your Construction Company From Bankruptcy   Starting a construction business is not for the faint of heart. A certain level of stress comes with ensuring your company's success. If things go wrong, it all falls back on you. That said, the freedom and sense of accomplishment of running your own business make the challenges well worth it. With good planning and strong business practices, you can avoid the pitfalls and drive your trade business to financial success. Learn the top reasons why small businesses end up in bankruptcy and what you can do to prevent that from happening to you. 1. Poor cash flow Not bringing enough money in is the main reason why businesses fail. You must have more money coming in than is going out, or you're on the express train to bankruptcy. This might mean increasing your prices, decreasing costs, or combining the two. There might also be different service models you can offer (such as subscription services) or ways to branch out your income.    Work with an accountant or bookkeeper to help you identify issues with your cash flow as soon as you know there's a problem–or to prevent one before it happens. The earlier you catch a cash flow problem, the better. 2. Insufficient initial funding Don't rely solely on credit to fund your business. If you start in a deficit, climbing out of debt and becoming cash positive will be much harder. It can also be challenging to break the habit of throwing capital investments on credit in an attempt to start making money. Explore all of your options for initial funding. Ensure you have enough budget to start your business on the right foot.  3. Difficult market conditions Economic recessions or depressions can negatively affect businesses, especially those relying heavily on consumer spending. Unfortunately, there's not much anyone can do about a poor economic climate but try to budget for the ebbs and flows of the market so you have breathing room if times get tough. An emergency account with money set aside for unexpected situations will at least give you some cash to survive on if things take a downturn. 4. Poor financial management Finances can get complicated, so you must ensure you're on top. Failing to keep accurate financial records, not managing expenses effectively, and not correctly forecasting future revenues and costs are all issues that could hurt you financially. Work with an accountant, bookkeeper, or advisor if you have difficulty managing your finances. They can help you set a plan and show you how to ensure your money is best used.  5. Lack of market research If you can't compete with your rivals, your construction business may struggle to generate enough revenue to stay afloat. This problem typically comes back to a lack of market research.  Entrepreneur jumps into a market they're passionate about, only to discover that somebody else is already offering the same thing – and they've already got the market cornered. Or maybe there's no need for that particular product or service.  Market research before entering the business and offering a new product or service. The results will tell you whether there's a need for what you're offering.  6. Legal issues Lawsuits, fines, and penalties can be costly for businesses, draining their financial resources. The best way to avoid this is to ensure you're familiar with the rules and regulations you must follow or get help from a professional advisor when necessary. An ounce of prevention is worth a pound of cure. Construction Company Failure is Always Preceded by Bad Bookkeeping The construction company owner who buys QuickBooks and hires a regular bookkeeper to "put stuff into QuickBooks" and then ignores all of the financial and job costing reports generated from their QuickBooks file drives their construction company into economic doom. Too often, contractors have led down the primrose path into bankruptcy and business failure by relying on inaccurate, false, misleading financial and job costing reports from their QuickBooks file. Part of the blame rests on Intuit, the maker of QuickBooks because their marketing strategy implies that anyone, regardless of their understanding of accounting principles, can use QuickBooks, and if you are a contractor, all you need is QuickBooks for Contractors. It sets up contractors for failure by playing to their self-image of strong people who are rough and tumble and can do anything. In too many cases, these contractors end up feeling inadequate and experience huge disappointments feeling like they are the only people on earth who cannot figure out how to use QuickBooks. Most of these contractors give up trying to make QuickBooks do what they want and lower their expectations to just knowing how much money is in the checkbook, Key Performance Indicator #1, and ignoring the other four Key Performance Indicators. Ultimately, it is like driving a car in the pitch-black darkness, on the freeway, with a tiny flashlight at 60 MPH, and being shocked and dismayed when it crashes, rolls in the ditch, and burns. How to avoid bankruptcy While the reasons construction businesses end up going bankrupt may seem numerous, there are some specific things you can do to make sure it doesn't happen to you, such as: Maintain accurate financial records and regularly review your business's performance. Develop a solid business plan that includes realistic revenue and expense projections. Diversify your business's revenue streams to reduce reliance on a single source of income. Stay current on industry trends and market changes. Reduce unnecessary expenses and manage costs effectively. Seek professional advice from construction accountants, lawyers, and business consultants when necessary. Build up an emergency fund to help your business weather tough times. Avoid taking on too much debt and manage what you already have effectively. By taking these steps, you can reduce the risk of bankruptcy and increase the chances of long-term success. Final thoughts A business might end up in bankruptcy for many reasons, but a bit of planning goes a long way. Do your research, be honest when you need help, and work with a financial professional to help you stay profitable. Contact us to discuss further how you can protect your construction business and learn how we can help. No construction company goes bankrupt that had useful, accurate Financial Statements and Job Costing Reports that they understood and paid attention to because they would have seen bankruptcy coming well enough ahead of time to avoid it. About The Author: Sharie DeHart, QPA, co-founded 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 517, And It's About How To Weigh ROI Vs Cost When Making A Business Purchase Deciding to purchase something to help your construction business is a big decision. It can be challenging to part with hard-earned money, especially in the early days. To understand the right time to invest by purchasing something for your business, you must calculate whether the Return on Investment (ROI) would be profitable. The cost is the money you spend making the purchase plus any indirect costs (such as training costs) related to the purchase. The ROI is a calculation of financial gains or benefits that you obtain due to that cost. To determine ROI profitability, there is a simple formula you can use. If the purchase yields a positive return, it can be considered profitable. However, if the purchase does not earn back the money it costs, it would be considered a negative return on investment.   Return on Investment Formula Using a formula to calculate the ROI only offers a rough initial estimate. Other factors might come into play, such as future work you will get because of the new asset or unforeseen expenses. The formula to determine ROI is: ROI = (Net Profit / Cost of Investment) x 100 Let’s see an example: Suppose you run a spec home building company. Three employees spend their time in the field gathering data and taking stock of how a proposed development project would affect the landscape. Vegetation, waterways, animals – everything is taken into consideration. You have one client who would like you to survey very rugged terrain. They would pay $2500 if you could complete this work, but covering the landscape would be difficult and take time. The only way to do it effectively would be to purchase a drone for $1000. It would cost $200 to train each employee how to use the drone. The new equipment would make taking on this work possible and save many hours spent physically in the field. Additionally, having a drone would mean you could offer your new aerial surveying services to other clients who are undertaking more large-scale or complex projects. Calculating the ROI of obtaining new equipment for this project: First, you would tally your total expenses and expected revenue to decide whether this purchase would be profitable. Expected Revenue = $2500 Total Expenses = $1000 + ($200 x 3) = $1600 Then, you would subtract the expenses from your expected revenue to determine the net profit. Net Profit = $2500 – $1600 = $900 To calculate the expected return on investment, you would divide the net profit by the cost of the investment and multiply that number by 100. ROI = ($900 / $1600) x 100 = 56.25% Your return on investment would be 56.25%, a positive return. Not only that, but your new equipment may allow you to gain more work in the future, making your ROI even better. What happens when you don’t put your investment to work What if you purchase the drone but find the learning curve overwhelming, and it collects dust in a corner? In this case, your client may not hire you, or the hours required to do the work on foot may make taking on the project cost prohibitive. Your ROI would be zero, plus you would be down $1600 from the initial expense and training. This would result in a negative return on investment, mainly if you have already performed the employee training. On the other hand, how many places can you find with a strong chance Of 100% Return on Investment? Let me say - If something seems too good to be true, it probably is, and you should stay far away from it. We Do Like Managed Risks This is anything we can control the input and have a more remarkable than the breakeven chance of making a profit. We pay close attention to the higher levels of math and how it is used to predict probable outcomes accurately. Decision Modeling Decision modeling uses reliable QuickBooks reports to generate predictions of profit and loss based upon re-allocating resources and aligning your Business Process Management system processes to present to you a variety of possible outcomes. It offers you a way to attach knowledge, expertise, and analytic insights. As possible results are analyzed, decisions become easy because the goals, processes, and data come together. As contractors like you move away from gut-level decisions and begin relying on your construction accounting systems to provide helpful financial and job costing reports, it will open a treasure chest busting at the seams with practical knowledge which can lead you to earn massive profits and, by extension, increase your wealth exponentially. Knowledge Leads To Profits And Cash Flow What Makes Knowledge Powerful? Use Of Knowledge! If you could harness and truly understand even half of the information in your existing QuickBooks company file and truly understand it, you could quickly become wealthy, debt free, and live the lifestyle you deserve in five years or less. Final thoughts While making a large purchase to benefit your business can be daunting, significant rewards often come with taking the plunge. Do your research, calculate if the investment is worth it, and then move ahead confidently. If you calculate correctly, you will find that your purchase takes your construction business to new heights. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 516, And It's About Construction Business Growth Through Networking And Having A Mentor Most business owners receive plenty of well-intentioned advice and 'helpful opinion' from family and friends. However, good business advice spoken from commercial experience is another matter entirely. That's not to say it's hard to find, but finding a reputable source in the Internet age is sometimes less than straightforward – especially if you have a specific problem to solve and limited time. This is why, for good times or bad, developing a network of peers or seeking out a business mentor can be a great idea. Networking Business owners shouldn't feel they need to operate in isolation. There are several options to consider, and you're not limited to only one or a few. Developing a network of peers and colleagues is an excellent way to keep in touch with new developments, and you'll have a great resource to access when you need input and advice. Your local chamber of commerce Your local chamber of commerce is likely to be a helpful resource. They should be able to put you in touch with industry bodies and refer you to people who can give you professional advice. In addition, they might also have information and resources to help you deal with the issues you are facing. Attending meetings and events is also an excellent way to brush up on skills and meet and network with other business people operating in your area. Local chambers can be found online through the US Chamber of Commerce. Your industry body Most industry sectors have some organization representing the collective interests of businesses operating in the sector; some will have more than one. They can give you industry-specific advice and put you in touch with other people in your line of business for input. These sources should also be able to refer you to reputable outside professionals if you need the help of an accountant or a lawyer, for example. They will generally also hold regular meetings where you can meet and get to know other small business owners. Once you've met or contacted a business peer or professional, swap business cards and keep their details on file; while you can do this manually, it would be more effective to include their details in your contacts on your computer and mobile and to connect with them through other networks like the business-focused LinkedIn or even Twitter. If you keep people's contact details, you can give them a call whenever you need assistance. Even if they cannot help you, they might be able to suggest someone who can. LinkedIn is a great networking resource for business people. You can join several online groups to ask relevant questions and get good advice. You can create your own if you can't find a forum to suit your needs.  We are also highly recommended on Alignable, and we recommend it, too. It is a great way to connect with local business owners and work-from-home entrepreneurs who are also there to network and market their services and might need a plumber, handyperson, roofer, or remodeling soon. Credible online sources of advice It would probably be best to meet face-to-face with your banker, accountant, or lawyer for financial or legal advice, depending on the advice you need. But there are several additional resources you can turn to for assistance. The usa.gov site dedicates part of its site to small and medium businesses. The United States Patent and Trademark Office website lets you do many online functions. For the answers to several employment or health and safety issues, look at the United States Department of Labor website. Business mentors If you're not looking for business advice on a particular problem but are more interested in long-term direction to help you grow and develop your construction business, you should consider getting a business mentor. Mentors can act as an experienced sounding board for ideas and help you consider long-term strategies, assess your business from an independent but supportive point of view, and even connect you with others from their business networks. So how do you connect with a mentor and get the most out of your mentor-mentee relationship? Perhaps you already have an accountant but would like a Construction Accounting mentor. The first step to seeking a mentor is knowing the kind of guidance you and your business would most benefit from right now.  For construction business owners in the early start-up stage, someone who can provide advice for surviving the first few lean years—and someone you can get in touch with more often—may be the perfect fit. In this scenario, finding a mentor with a background in your industry is a plus. Mentors with relevant experience have been where you are now and understand all your issues and frustrations. Let's face it: all business owners are busy people. And although meeting with a mentor consistently is most beneficial, doing so in person regularly can be a challenge for both parties. For some mentors and mentees, what works best is video calls. Our Contractor Bookkeeping Review, for instance, offers consultation and mentoring from Sharie and works well through a phone call or in-person meeting. To get the most out of mentoring—and to demonstrate how valuable your mentor's help has been—be sure to follow up on your progress. A mentor will appreciate hearing how you've put their advice to work, your milestones and successes, and the goals you'd like to work on in the future. Acknowledging your progress will help you stay motivated by seeing how far you've come. Final thoughts Profitable contractors attend networking events not because they have nothing better to do; they do it because it pays off. You can either spend hours doing office tasks like bookkeeping or getting face-to-face with someone who may need your services. Meeting people gives you the chance to build and develop relationships, hire you, or refer you to someone who might. The opportunity to learn from not just an accountant but your Construction Accounting mentor can do more for your business than any course, educational program, or degree. Being a mentee means you get first-hand experience without dealing with all the mistakes yourself.  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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 515, And It's About What Every Trade Business Owner Should Know About Raising Prices Raising prices can be a sore subject. Many construction business owners like you assume doing so will spell the end of your competitiveness. But by not raising prices, you're simply letting inflation and your suppliers' maintenance of your margins quietly eat away at profitability. The bottom line is that costs will always rise long-term - at least with inflation. That means you have to pass on the costs to your customers or consume those costs yourself to the point where one day, you'll have to either suddenly raise prices or accept the eventual failure of your business. The worst thing you can do is avoid measuring your costs by sticking your head in the sand. Cost rises will catch up with you eventually, so take action to maintain your margins. Analyze and reduce your costs Regularly check the accuracy of the prices you use in your forecasts and break-even calculations. If you're using outdated costs, your predictions could be dangerously off course from the actual performance of your business. Ideally, you should have your figures analyzed by a professional accountant with experience in the construction industry - and even then, you should remain directly involved to maintain an understanding of your books. But if that's impossible and you have to make your own costs and margin analysis, try using the following tips to help you resolve any profit issues. Analyze costs and profits on an individual product and service level first before looking at the business as a whole. You may miss critical financial details if you try and cut straight to the chase. Try making minor, subtle adjustments throughout your range rather than hiking prices on one service, even if the margin on that particular item is the one causing the biggest headache. Sharp, sudden price rises are more likely to attract a long-term adverse reaction from the target market than almost imperceptible ones they can easily accept. If you find a loss-making product in your books, don't immediately delete it. Consider first whether it's required to aid sales of profitable services. Schedule small price increases every six months or years rather than waiting every few years to raise prices more noticeably. Increase your prices If your costs are optimal, look at the other end of your margin - the price. You may be hesitant to raise prices because you think any price advantage you have over the competition is too significant to lose, but if you give customers more compelling reasons to hire you, you may be able to justify a higher price. Remember, it's all about positioning. Premium pricing reinforces the value of a premium service. If your market research tells you there's a gap in the market for a value alternative, fill it. But if there's also a gap for a superior choice, take that option if you can deliver a product or service to the required standards. Why? Put simply; there's always someone willing to go cheaper. Look at how large shopping outlets use their buying power to find ultra-cheap stock and take customers away from smaller businesses with tighter margins. Many small business owners take it as gospel that the last thing they should do is raise prices, but the opposite is true more often than not. Just make sure that if you do raise your prices, you do so: At a fair pace and intervals instead of raising prices in a way that will shock the market With consideration of the market's price tolerance Alter your product or service mix Any two margins are rarely the same in a range of products, so why focus equally on selling them all if concentrating on the higher-margin products will increase your income? If costs and pricing are optimal, altering your product mix is the only way to maintain or increase your margins. This means being ruthless and chopping products or services that may be close to your heart to focus instead on those that bring people in through the doors. Look at your margins, pick the top earners, and focus your marketing efforts on promoting these products and services above the others. Pricing Feasibility Your prices must be set to cover your costs and provide you with a healthy margin, but they also need to be developed considering your target market's tolerance for pricing. If you don't do this, you could price yourself out of the market or underestimate the value of your products or services. You'll be tempted to let your competitors dictate your pricing, but you need to build a comprehensive pricing strategy that reflects the value of your product and the price your market might be willing to pay for it. Carry out market research Finding out the price expectations of your target market may be as easy as simply asking them. The key is to get an accurate idea of your offering's value before you enter the market. The best way to do that is by directly talking to your target market. Conduct surveys or, if you already have a working product prototype or service concept, form a focus group to gain their instinctive responses and opinions on how much value they'd place on your offering. Ask them: The price they'd expect to pay for a product or service like yours. Where else do they buy, and why. What typically influences their purchasing decisions (you may find competitive pricing isn't as crucial as you expected). Remember that the prices you choose must reflect your position in the marketplace if you want your brand to thrive. At the end of the process, you need to know the following: Whether your service needs to compete directly on price or whether it's innovative enough to charge a premium for. The maximum price ceiling the target market will tolerate. Consider test marketing If you struggle to estimate your market's price tolerance, consider releasing your service on a small, limited scale as part of a test marketing exercise. You'll be able to get direct, valuable feedback from customers on what they think about your product or service and its pricing. Assess costs and margins Once you know your target market's price expectations, you can start looking at the feasibility of meeting them. Assess your cost and supplier options, and produce financial forecasts that could give you a long-term view of profitability. A cash flow forecast will give you a clear idea of the possible return on investment you could expect, while a break-even calculation will estimate the minimum performance (in units sold or hours) you'd need to meet before you start making a profit. These forecasts will be critical to your strategic decisions. Consult an accountant to make sure you've accounted for all your costs. Use your forecasts to answer these questions: Will the return on investment be worth your while? Can you trim your costs to improving your margins? Should you consider a more premium pricing strategy to improve your margins? Final thoughts While it may seem scary, remember that your job is to keep prices fair for you and your clients. That means you must charge fees that work for you and allow you to remain operational. It's just good business sense. Whatever the case, research and review your prices often to ensure you position your trade business correctly. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 514, And It's About How To Attract Profitable Construction Clients  

This Podcast Is Episode Number 513, And It's About Seven Ways Your Construction Business Can Market Its Services When you go into business as a tradesperson, you often focus on performing your trade to the best of your ability – as it should be. With time, the quality of your work will speak for itself, which is the most valuable testimonial of all. Before the internet was commercially available, just as many experts advised contractors about the layout and design of yellow page ads and which books to spend money on, I say you spend money because that is what it was - Marketing. Many of us who owned and operated construction companies spent thousands of dollars on these experts. Based on their recommendations, we spent tens of thousands of dollars annually in full-page yellow page ads as close to the first position. Spending Money Is Easy, Investing Money Takes Work However, any trades accountant or bookkeeper will tell you there's more to it now. While your good reputation preceding you is undoubtedly essential, there are a few other ways that you'll want to market your services to ensure that you have a steady stream of work. Read on to learn seven paths you can market your construction business. 1. Appear in directories Since setting up a new business is usually a digital experience, it's easy to overlook the step of making sure you appear on a physical list where people can find you. Ensure your trade business is on relevant trade directories in your area. Additionally, make sure you appear in the online equivalent. Yelp, Google, and Facebook each have business directories. And let's not forget the old standby: the phone book. Yes, they still exist! They are valuable resources for some people looking to hire a tradesperson. 2. Have a website Some website-building platforms are very user-friendly, but hire someone if you feel that's beyond you. Almost everyone does an online search before they hire a business, and not having a website is like waving a giant flag that says you're out of touch, old-fashioned, or possibly not legitimate. Meanwhile, having a website reassures people that you are who you say you are and can provide the services they need.  3. Leverage social media Nothing is more substantial than a good referral, and people naturally turn to social media to find out what your customers are saying if they don't know someone who's used your services personally. Keep your social media presence strong and engaged. If you're uncomfortable doing this, hire someone to do it for you. It's critical when doing business today. 4. Offer referral promotions When you wind up with a happy client, give them an easy way to speak positively about you and suggest you to their friends. A card or a thank-you email with a discount code will do the trick. 5. Run ads Construction marketing can be tricky because, typically, your services aren't always needed. But when you are required, it's usually urgent.  If your trade business doesn't appear on the first page of Google, it might be worth your while to take out an online ad. That way, when someone searches for a tradesperson in your area, your business will appear next to their search. The only way someone can click on your information is if they see it – so make sure they have that chance, whether through an organic search or a paid ad. 6. Make yourself visible in the real world Make sure your construction business's name and logo appear on any equipment you use, and make clothes for your team to wear when they're out and about. It may be smaller than a billboard, but driving and walking around letting people know who you are, what you do, and how to contact you will go a long way to marketing your company. If people become familiar with your business name, they'll likely turn to you when needed.  7. Good old-fashioned snail mail Believe it or not, print campaigns are alive and well! If you operate a construction business whose services are sorely needed in a specific area, consider making a print ad to pop into mailboxes. A word of warning, though – make sure your print ad is relevant, valuable, and eye-catching. You don't want to spend money producing something that will immediately go to the recycling bin. Final Thoughts Marketing for trade businesses is a lot like any other type of business in that you have to understand your audience and their needs and show up when they're looking for you. With some research and proactive planning, you can be sure your business will appear in the right place and time. Continually examine your approach. Instead of yellow pages people, I see many well-intentioned people with their minds and hearts in the right place that have great ideas on what works and fails in social media. I certainly don't know what works for every contractor; however, I do know that every construction company is unique, and what works for your competitor may not work for you. I encourage you to develop your market tracking system along with these methods. Perhaps you will discover what works best for your construction company and increase your sales bottom line profits. If I can be of service, don't hesitate to contact me. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 512, And It's About Understanding Cultural Differences Within Your Company And Clients   We're in a dynamic, multicultural country with many different races of people from diverse origins, just within the domestic market; it's vital that you know who might be interested in your goods or services and how they could perceive particular messages. Whichever specialty your construction business is in, cultural differences can directly impact your profitability. If you try to understand your crew's and clients' cultures – their customs and differences – you'll have a better chance of keeping them and gaining more, respectively.   Suppliers, vendors, and service providers respect leaders who have a vision, mindful and considerate, and can power through every obstacle to achieve success. They will support you in ways you cannot even imagine because it is in their best interest. Decide how you want to lead, how you want to be respected, and the work culture you want to create.   Ensure certain business areas don't offend potential subcontractors and clients from different cultures. Body language – it's important to know what body language to communicate to potential staff or clients you meet or in visual advertising directed at your customers. For example, if your business has a sizable Indian customer segment, be aware that a typical western hand wave meaning 'hello' is usually interpreted by Indians as 'go away' or 'no.' Communication – the secret to success in any business. If your company can communicate on the same level as your local customers, you're already heading in the right direction. One example that failed miserably was when PepsiCo marketed Pepsi in Taiwan using an ad tagline, "Come alive with Pepsi!" They didn't realize the Chinese translation meant, "Pepsi brings your ancestors back from the dead!" Awareness – simply being aware of your prospective customers' cultural backgrounds will allow your business to convey its messages more accurately and with less chance of offending. By drawing up some personas of the main types of clients in your target market, you'll begin to break down what each kind of personal values. You may even find their trigger points – those that make the purchase. Ensure you're familiar with each persona: Etiquette – such as getting to know the culture of Chinese customers and being patient when conducting business. Dress – if you have significant customers in the Pacific Islands, it's more common to dress informally when doing business. Business and religious customs – familiarity can go a long way toward a successful business. For example, Japanese people consider it rude to make demands when doing business, while Indonesian people prefer to do business face-to-face. History – if you're kicking off an advertising campaign that uses an aspect of history to get your message across, make sure it's accurate and not likely to offend a particular demographic. Simple acts of mindfulness promote a positive reputation for your construction company. One common example: When working on residential projects, it is important to note that Asians, in general, and most Eastern Europeans, dislike wearing outdoor footwear inside their houses. It is customary to remove your shoes or wear shoe covers to show respect as you enter; not only that, it ensures the floors and carpets are clean and clear of possible mud and dirt. Often businesses don't take sufficient time to have people on the ground interacting with their potential customers. There are language barriers and different customs that need to be considered. Speaking with advisers who have the exact origins of your major market segments is a brilliant idea. The advice could prove invaluable – ensuring you don't offend through ignorance or lack of knowledge. You must ensure all aspects of your marketing work together, delivering the same message – one that's aware of the cultural differences amongst your clients. By being aware of the critical factors impacting your business, you'll set yourself up to maximize sales from a global melting pot of potential customers. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 511, And It's About The Difference Between A Construction Accountant And A Tax Accountant How often have you hired someone with the expectation that they know how construction works, and then you found out they did not know about it? You are a master in the construction industry, so you recognize what to look for in your particular field and quickly observe if someone has the skillsets, and you proceed accordingly. You know what happens when you send your best Rough Carpenter that you pay piece work for framing spec from the ground up in all kinds of weather and working conditions to install some custom-made cherry wood cabinets with gold plated pulls and knobs in the home of your best client (who happens to be in the wealthiest neighborhood in your town). It is not a pretty sight. Have you pictured a crew with muddy work gear and boots stepping onto your client's pristine floors? The dirty secret is that Tax Accountants operate like Rough Carpenters because they work fast and furious, and they are paid piece work. The main difference is that they earn the bulk of their annual income in three and a half months. This means they do not waste time going through your receipts to ensure you get all the deductions you are entitled to.   Both Groups Are Important, And Each One Fills A Need Project Management Construction Accounting Professionals (PMP) work above the line and focus on generating positive outcomes and results for contractors: Increase Sales Reduces Expenses Increase Net Income Certified Public Accountants (CPA) work below the line focused on filling out annual income tax forms, ensuring contractors pay their fair share of taxes, preparing certified financial statements, and performing audits on your QuickBooks contractor file.  Three Times Construction Contractors Need A CPA In Their QuickBooks For Contractors File: You apply for a large loan or line of credit over a million dollars You need certified financial statements to get a performance bond Your construction company is so large that you are required to have an annual audit Most construction contractors with annual sales under $10,000,000 and less than 20 employees will never have those issues. Preparing end-of-year reports and filing taxes can be complicated. If you're not doing it right, you could be liable for penalties or, at the very least, not take advantage of tax gains and financial opportunities. A Construction Accountant can ensure your business remains compliant (and pay as little tax as possible), help you analyze your business performance, and work with you to achieve your goals. On the other hand, Tax Accountants can kill more cash flow and profit in your construction business (in less than an hour) by preparing your annual tax return using a messed up QuickBooks file than you can make up for with hard work in several months, if not years. This is because saving you money on your tax bill is not what they are paid to do; they are paid to fill out tax returns. Why does it need to be separate? Trust but verify! When you need financing, most bankers and finance sources like to see a separation of duties. They want to see two different firms involved because it reduces the chance of errors, collusion, cover-up, and fraud. They may not say a word to you; however, we often hear about it! We insist our construction contractor clients use an outside CPA or tax preparer to review the QuickBooks Contractor's bookkeeping services that we have performed and prepare the annual income tax return. As a result, we have developed good working relationships with several CPA firms and yearly qualified tax preparers. It is good to know our contractor clients trust us and know that we have their best interest in our minds and hearts; however, we are human, make mistakes, and welcome input from CPAs and tax preparers. It is all about teamwork and people working together to ensure everything in your construction accounting system works correctly. Bottomline: Construction Accountants should not be preparing annual tax returns because nobody can serve two masters. Either be a Tax Accountant and serve the interests of the tax collection agencies or be a Construction Accountant and serve the interests of contractors. Please don't think we are too hard on Tax Accountants. Understand that we have great relationships with them. We have had Tax Accountants review our QuickBooks and prepare our business and personal returns for over thirty years, and we refer many businesses to various Tax Accounting and Preparation companies. What you need to look for is someone who is experienced, capable, and understanding. You should feel they'll be a good advisor and are interested in developing a long-term professional relationship with you. Having the right Construction Accountant for your business leaves you free to focus on why you started the construction company in the first place – to see it grow and become profitable. A Construction Accountant and a Tax Accountant are integral to this because they'll keep your finances on track. Which, in the end, is the whole point. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 510, And It's About How To Protect Yourself And Your Construction Business From Fraud Unfortunately, fraudsters are out there. They want your money and identity, and they're getting more sophisticated. There's a wealth of opportunity for swindlers to take advantage of people because so much of what we do is now online. There are ways for you to protect yourself, both by taking action and being aware of what's going on.  While they might get less information from a small business, thieves will easily access it. If your construction company keeps any time-sensitive information on a computer network—personal information, credit card details, or other vital data—you need to ensure your cybersecurity is top-notch so you, your business, and your clients are fully protected.    As a small construction business owner, you may not have the significant security budget of a large company, but you can combat employee theft and protect yourself from financial losses if you can identify red flags and follow suitable preventive measures.    Here are eight ways to protect yourself from personal and construction business financial fraud. 1. Protect your identity Getting someone's identity is often the first step to running up enormous charges in their name. Scary as it is, you can go bankrupt if someone opens credit cards using your ID and maxes them out before you know anything has happened. Shred your mail and dispose of records securely. Dispose of any documents with your name or other information carefully. It may take extra time, but these small steps can save you a world of headaches. 2. Don't click on unknown links Whether sent to you in an email or via text message – don't click! It's a popular tactic for fraudsters to send a normal-looking link that's harmful. Before you know it, you're freely giving away your information. Just don't do it. Instead, take the extra step to visit a website through its legitimate homepage or call customer service if you suspect a link is a scam. 3. Check your bills With so many bills offered online, it's easy to forget to review them. Make sure to check your statements for accuracy every month. It's the only way to identify fraudulent charges and correct them. 4. Don't put your personal information online carelessly Think of this like putting the toothpaste back in the tube – it just can't be done once you've squeezed it out. The same goes for putting your personal information online. Fraudsters can use something as innocuous as your birthdate or workplace to verify your identity and expose you to financial fraud. 5. Never give up information over email or on the phone The pandemic made us especially susceptible to being taken advantage of because so much was changing at once. Extra government programs were in place, vaccination campaigns were underway, and this administration meant more phone calls, text reminders, and emails. Trustworthy institutions typically do not ask for your personal information in these ways. If you get a suspicious phone call or email, hang up and call them directly. That extra step can save you a lot of money and stress. It's too easy to fall victim to one of these scams, especially if the caller claims that a loved one is in trouble and needs help – a common tactic these days. 6. Be cautious when shopping online Fraudsters are getting savvy when it comes to tricking us online. It's not uncommon for a fraudulent website to appear exactly like a legitimate place to shop. Double-check web addresses and question deals that seem good to be true. Be aware of spelling mistakes or awkward grammar on these websites. They're often a giveaway that it's a lookalike designed to trick you into handing over your information. 7. Check your credit report periodically If you live in a region where you can get free credit reports that don't harm your credit score, take advantage of this from time to time. It's an excellent way to know if loans have been opened in your name or to be alerted to any other suspicious activity. 8. Set spending limits on your credit and debit cards Most cards can be set up to alert you of purchases, and you can set the parameters of when that happens. If someone has your credit card information, it's not uncommon for them to run through several smaller purchases as a sort of test to see if you're paying attention. Set up spending alerts so you can stop them in their tracks. A Note on Construction Bookkeeping Embezzlement/Employee Fraud Bad Bookkeepers will leave you with unfiled and unpaid taxes. They come from every race, creed, color, gender, and age. There is no definitive profile or absolute way to know which contractor bookkeeper is an embezzler until they have been caught and convicted, and even then, if you do not perform extensive background checks, you may never know it until it is too late. Just because you catch a bookkeeper embezzling funds, don't think for one minute that they will always be punished and made to pay you back. For the most part, you must understand that employees are poor innocent victims of brutal greedy business owners in the eyes of the public. I have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases, it was Bookkeeper Incompetence or Bookkeeper Embezzlement, and in other cases, it appears there may have been some deliberate identity theft; however, I cannot be sure. What you can do: Monitor your financial records closely, and investigate if you come across the following discrepancies: Mismatched payees: the name on a cashed check doesn't match the name entered in the general ledger Identical payments:  two checks have cleared for the same amount to different vendors in the same date range; one may have been authorized on the strength of supporting documentation for the legitimate payment. Questionable companies: a supplier or vendor with unprofessional invoices (i.e., apparent errors, a missing or incorrect address, home address, or non-existent web presence) FEA Cybersecurity As an accounting firm, our client's privacy and security remain our top priorities, and we are continually looking at ways to develop and evaluate our system to prevent a breach and network holes. We utilize 128-bit Secure Socket Layer encryption, which ensures that all data passed between the web server and browsers remain private and integral. There are two levels of restrictions, and passwords must be entered before you can get your data file. At Fast Easy Accounting, Cloud Security is not an option- it is a fundamental requirement. We only use Intuit Approved Commercial Hosting Services. Their Cloud Security rests on U.S.-based servers, backups, data centers, and technical support. Not one aspect of our Cloud Security relies on outsourced services or offshore locations. We have taken steps to select the best to ensure that your data is as secure as that found for online banking and financial institutions. Final thoughts It's a big, connected world, but modern technology has also made us more susceptible to fraud. However, with a few good habits and suitable tools and practices, you can protect yourself from personal fraud and continue enjoying online life's conveniences. Let this post be a reminder to watch for suspicious employee behavior. Segregate financial roles so no one has unlimited access, control, or opportunity - and ensure your bookkeeping is always up to date so any "red flag" scenarios can be dealt with promptly. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 509, And It's About Growing Your Construction Company Through Collaboration And Partnership Operating and growing your construction business requires more than functional and skilled employees, but it's an excellent start. You need a steady stream of quality, paying clients to keep your company afloat. Likewise, deciding on an online marketing plan can be overwhelming for company owners like you who are looking for affordable ways to nurture consistent, sustainable growth. With time in short supply, the key is to find one or two growth strategies that will get results at a minimal cost. Building a construction business requires collaboration and partnership. The deployment of employees in a way that allows them to work together to problem-solve and act with a shared sense of urgency; and increasing brand awareness through an alliance with people in the industry are simple, cost-effective ideas for building your company within, in the office or job site, or externally through referral and online connections. When this occurs, you and your crew come to leverage the strengths of one another as you work to achieve shared objectives vital to your company's growth. Also, mutual learning occurs, increasing the probability that each employee's performance will evolve from good to better and then best. In turn, a construction company's performance improves as well. Collaboration As collaboration occurs, your team can leverage individual differences to produce exceptional outcomes. This knowledge-sharing creates a learning enterprise in which employees more readily identify solutions to problems. Consequently, your construction company may become more operationally and financially successful. A collaborative environment makes a range of disciplines accessible on an as-needed basis, which leads to the efficient use of employee talent in a way that isn't possible otherwise. It allows your crew to complete a task at hand, making it more likely that the right talent is available at the right time. With collaboration, jobs are done more efficiently, leaving more time for the staff to concentrate on activities that contribute to company growth. A group brings different perspectives to a problem at hand. As individuals share their views, each team member considers issues from multiple viewpoints, and the person begins to think like the group. The culture change contributes to new thinking, which may lead to new plans and ideas to deliver your services. In addition, diverse and complementary talent may enhance individual work processes as each of your employees becomes a part of a greater whole, which can positively affect your construction company's culture. A team succeeds or fails according to the combined capabilities and commitment of the individuals involved. Deploying a variety of unique strengths and skills advances a team's understanding of a problem, leading to faster problem scoping and solution formulation and more effective solutions. Partnership This simple growth hack is influential both on and offline. A partnership with a company that provides complementary products or services can quickly increase your online email lists and boost your sales figures. There are many ways a business partnership could work – you might negotiate a joint venture, host an event where you promote each other's products, run a giveaway together or launch a combined product or service. It doesn't have to be a formal business partnership, but reach out to businesses in complementary industries to suggest a referral relationship in which you refer relevant clients to each other. You could also agree to partner up on specific projects. For example, a kitchen remodeler and a flooring contractor could refer clients to each other or work together on projects requiring both skills.  Keep in mind, though, joint ventures are a bit like change orders. They can be an incredible opportunity to make or lose money very quickly. So, forming partnerships doesn't necessarily mean a business merger but more on providing customized help to a client that needs a range of solutions. Final thoughts Remember, communicating better is one of the most accessible and valuable skills you can learn if you look for ways to lead and collaborate more effectively. Effective communication will help you to gain the trust and respect of individuals around you, which is one of the most valuable assets you can acquire. Collaboration is also an effective means of problem-solving because it allows a company to leverage individual employee differences, evaluate employee efforts in the aggregate and create a learning enterprise. When problems are solved more readily, resources become available to achieve other company objectives, including company growth. Collaborating and forming partnerships are more impactful when you have written goals of what you want to accomplish and how much income you want to generate from all your efforts. I can help provide additional financial advice and support as you update your business plan based on your intentions and current financial records.  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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 508, And It's About Seven Tips To Help Your Construction Business Adjust For Inflation Inflation has ballooned worldwide in recent months, and there's no question that small construction businesses are feeling the pinch. Supplies cost more, employees are hard to find, and your profits are shrinking. This can lead to operating at a loss - spending more money than you make. Otherwise, you will eventually run out of cash reserves and be out of business. And while it's not uncommon, especially for new companies, it's still not ideal and shouldn't continue in the long term.   Be aware of what's going on in your industry and adjust. Customers judge a business based on perceived value. If you're at the bottom of the pack price-wise, they're likely to skip over you to get a good deal. Price yourself accordingly to attract quality clients.   It's undoubtedly challenging, but you can weather the storm with the following tips. 1. Study your data You first need to identify why you're operating at a loss. If you're still in the start-up phase, you might not need to worry too much as long as you've got enough cash to meet your costs. But if the losses are due to a decline in sales, then it's time to review your construction business and, if necessary, get professional help. Your numbers are always helpful, but in times of rapid inflation, you'll be incredibly thankful that you keep a nice, clean set of books. Analyze your data to learn what products and services make you the most money, which ones cost the most to offer, and to identify where you can save. 2. Cut expenses Now that you've identified where you can save money, go ahead and cut what you can. It's nice to be able to offer many products and services, but this is a time to tighten your belt. Focus on the items that keep your business as healthy as possible, and ditch the rest – at least for the time being. It's okay to simplify, especially when times are tough. 3. Adjust your prices Nobody likes to raise their prices, but you likely have no choice. Keeping fees the same would indeed be fantastic for your customers or clients. However, if you're offering your products or services at the same prices as before inflation started to climb rapidly, you're absorbing the cost. When you dig into your data, you may find that some things you offer actually cost you a lot of money. That's not a sustainable business model – raise your prices to keep yourself afloat. You should always seek to raise your rates over time to improve your profit margins and keep up with inflation. 4. Simplify and automate If aspects of your business take a long time to complete, see if there's anything you can do to reduce those hours. Switching to cloud accounting or inventory management software would be an excellent example, as doing so would allow you to use your valuable time elsewhere. Identify where you can simplify and automate, and then do it. Then, even when inflation comes back under control, you will undoubtedly find that the saved time helps. You can build efficient systems by streamlining your processes and using technology. There might be administrative tasks that you can ditch altogether.  5. Focus on your client Remember that your clients are keeping you in business and experiencing inflation in their lives too – both at home and in their businesses. Keep the lines of communication clear and open, especially if you're going to alter your offerings or raise your prices. It's easier to retain loyal customers than to gain new ones, so make sure they know how much you value them and communicate openly to maintain their trust and loyalty. 6. Consider your employees Good help is hard to find. Those who work for you are feeling the pinch as well. While it's essential to automate what you can, you must consider the consequences it will have on your staff. Identify how you can better use their talents if parts of their roles become automated. 7. Remember, this will pass Inflation has happened before and will undoubtedly happen again after this. Historically, periods of inflation last anywhere from a few months to several years. However, we remember one thing: all periods of inflation end.  Final thoughts While inflation is problematic for small businesses, there are steps you can take to reduce its impact. You will leave this inflationary period intact with clear communication and intelligent adjustments. Focus on what you can control and face what you can't with confidence and creativity. It's also important to review your practices honestly and carefully to pinpoint what you can improve in your construction business during this challenging period. Being proactive with your marketing, asking for an expert's help with your accounting, and putting a plan in place for production are necessary to operate and grow your company during this time. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 507, And It's About Starting And Operating A Small Construction Business On Limited Funds So you have a great business idea and are convinced you can make it work, but you don't have much capital to get your business off the ground. Juggling existing financial commitments such as a mortgage or bank loan could put a squeeze on your business plans. Many entrepreneurs use creative thinking and shrewd planning to get businesses off the ground with the smallest budgets. Freelancers in all industries deal with the same problems due to the nature of their work. Most of you came from the skilled craftsman trades; some worked as construction company managers and have now started or thought of starting your business.   If you just did, congratulations, you have decided to own and operate a construction company. Practically, solo contractors manage every aspect of their business, but we are here to help you navigate it. Here are the things you need to consider (especially when you are on a limited budget) to keep it running. Making your construction business fit your finances Starting your company on the tiniest of budgets means working harder to ensure your business doesn't implode from a lack of funds. Even if you don't have funds, you probably have something that many established companies don't have - time. You can build income and cash flow from your hard work if you have time. Remember that the easiest businesses to get off the ground with limited capital don't require plenty of resources or initial outlay. These are generally service-based businesses, such as handyperson and residential home-improvement services. Minimizing costs and eliminating expenses It goes without saying that if you have a limited budget, you will need to direct your spending where it has the most significant impact on your business. Here are some tips to make your money go further. Harness free business support. Business support or advice doesn't need to cost a fortune – there are plenty of ways to get help and build your knowledge for free. Use the Internet to research success stories in your chosen industry and find out if there are any government business mentoring services you could access. You could also approach your network of friends and family or industry associations to put you in touch with someone in your industry who could share their knowledge.  Do it yourself. Almost any business task can be completed by yourself, depending on how much spare time you have. If you don't have the design budget for an expensive-looking website or are unsure how to design advertising material, consider learning how to do it yourself. For example, you might be able to attend a free or low-cost course on how to use design software or use Internet resources to teach yourself.  Work from home or lease low cost. Working from home can be a great option; you don't need to meet clients at your premises, as most will invite you to their property. If you need a physical office to meet clients, leasing a room in a shared office or splitting the lease on a property with another business is an excellent way to minimize costs. Shared office spaces often have shared amenities such as meeting rooms and coffee break areas, which are great for meeting clients. Order only what you need. Avoid the temptation to order large quantities of stock from suppliers in anticipation of large orders. Less supply means you save on storage costs and reduce the risk of theft or damage. The downside is that you may have to pay more for items, lowering your margins, but you can order in bulk once the business is booming. Minimize fixed costs. The more fixed costs you have, you are financially tied down. Some fixed costs like power and telephone line rental can't be avoided, but other costs such as transport costs or office supplies will vary each month. Think carefully before financially committing to services that may not be necessary, such as expensive mobile data plans or a private mailbox. Use free or cloud-based software. Rather than paying for bundles of software, download software off the Internet instead. A variety of websites offer free word processing software, accounting platforms, and budgeting tools, either as a limited-time trial or completely free. There are also free or low-cost cloud-based versions of many commonly used programs. Cloud-based programs are stored on the Internet, so they don't require as much processing speed or physical space as those stored on your computer's hard drive. Use social media as a marketing tool. Creating a Facebook or Instagram account is free and provides you with a platform to market your business to your local community. Facebook also features a low-cost paid advertising feature you could use to drive potential customers to your pages. Social media pages can also be a free substitute for a website until you have enough money to create your own. You will need a significant online presence to gain customers and generate sales through social media, which takes time. Directing profits back into your business It may have taken a lot of hard work and determination, but you are now making sales. Spending money on yourself or some new gadget to reward your persistence is tempting. Avoid splashing out unless it will make a big difference to your business by improving productivity or operational capacity. It's generally best to put the money straight back into growing the backbone of your business – either by purchasing a piece of essential equipment or growing your client list. Know when to spend Like any start-up business, there will be times when you need to make big decisions, such as pursuing expansion opportunities or new markets. You might need to spend most (or even all) of your savings or consider borrowing to take advantage of new opportunities. Final thoughts Many aspiring to self-employment do not have any idea what freelancing entails. Contracting services to homeowners or individuals require lots of time and effort to earn a profit immediately. Employees tired of their own work lives idealize those of business owners and often ignore the difficulties faced in this environment. Before counting on notions of optimal freelancing experience, consider your own life, strengths, and abilities. Ask yourself these questions: "Am I ready to begin a long-term career in contractor work?" and "What do I want to achieve through my contracting business?"  f you are a new, struggling construction business owner, tackling these problems from the bottom up streamlines the path to success. If you ever become discouraged, remember that everyone starts at the beginning and that you can achieve your desired level of success if you put in the work to attain it. Again, you are not alone. Let me know how I can help you today by filling out the form on the right. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 506, And It's About The Advantages Of Paperless Payroll In Your Construction Company When you think of payroll, you might still envision paperwork and envelopes given to employees by hand. Even with direct deposit being the norm for years, there is still a significant paper component to manage. You won't find a contractor using inefficient tools on the job site these days. The hammer or the nail gun? No question. While every contractor recognizes the flaws of using ineffective tools, they may still be losing money due to inefficient payroll tools and processes. As with most things, payroll is going digital – for a good reason. There are many benefits to digital payroll for construction business owners and staff alike. Read on to learn why switching to paperless payroll could be right for you. 1. It empowers your construction employees Your employees can log in to the system and access anything they need – anytime and anywhere. Pay stubs, hours worked, and so much more. It's all right there, which means they don't need to call or visit a specific department for help. If they have questions about time off or sick days, they can easily find that information.  When everyone can access what they need, it makes everything easier. It also means that whoever would traditionally have to pause what they're doing to provide information can stay on task. 2. It increases convenience and eliminates delays When you're manually processing your payroll, delays come up that are a normal part of the contracting business. But that isn't the case when you take your payroll digital. Because everything runs automatically, you no longer experience holdups due to holidays or slow mail. Additionally, everything is distributed instantly online, meaning everyone gets paid on time. You'll reduce the chance of mistakes as well. Taking human error out of the equation means you no longer have to spend much time correcting mistakes or investigating what went wrong. 3. It keeps everything secure Security is built right into paperless payroll systems. Employees have a unique username and encrypted password, which they use to access a secure online portal. Some even have two-factor verification. All payment information is kept securely on the portal, accessible only to those with permission. With all data stored online, you reduce the risk of losing sensitive documents. You also don't have to worry about shredding confidential information. The risk of fraud is also nearly eliminated. 4. It saves you money, and valuable time There are obvious cost savings in reducing the paper, postage, ink, and toner required to distribute paper pay stubs. Those costs are high, too. But you will see the most significant savings in the hours no longer needed to run your payroll. With most of the process automated, it's no longer necessary to spend time tallying up hours worked, calculating overtime and sick pay, and then sorting out taxes. Instead, your software will take care of it for you. 5. It helps the environment Finally, paperless payroll is nearly waste-free. You'll no longer produce stacks of paper, envelopes, and supporting documents, which add up in filing cabinets all over your office – which is only a pitstop before they're discarded. Payroll Processing Not Fun? Outsource it! Having trouble processing payroll? Do employees ever turn in timecards late? Any difficulty keeping track of employee loans? Does keeping track of garnishments take lots of time? Wouldn't it be great to get rid of payroll processing? We understand construction companies and their payroll needs because we have owned and operated construction and service/repair plumbing companies for over 25 years, which means we know how to get payroll processed fast and quickly! Everything runs smoothly during your regular pay schedule when timecards arrive on time. When employees do not turn in their timecards on schedule and expect you to have their checks ready, no worries, we have you covered: Process payroll outside your normal pay schedule - fast and easy Track and allocate garnishments Track and report on employee loans Track and information on employee reimbursements Everything for one flat fee and no long-term contract  Final thoughts There are several benefits to adopting paperless payroll, and it's a popular system for employees and employers alike. When considering taking your payroll paperless, ask yourself what the needs of your business and your employees are. If both would enjoy the features listed above, it might be time to start thinking about making the switch. Outsource your payroll processing to save time and money. Reach out to me at your earliest convenience. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 505, And It's About Setting Construction Business Financial Goals For 2023 The new year is a natural time to decide what you want to achieve and how. Businesses tend to progress more consistently if the owner sets financial goals and makes a plan to achieve them.    Your construction business (and personal) budget is one area where you should keep your resolutions from slipping. While it’s true that there’s also next year when it comes to your financial goals, putting it off has real consequences that equal less money and more work. So here are seven steps you should take in January to start your 2023 budget.   1. Review and evaluate your 2022 goals You’ve got to see where you’re coming from to know where you can realistically go. At year’s end, review the goals you set last year and use your numbers to see how your business measured up. Whether or not you met your goals, that information is valuable. What circumstances enabled you to meet your goals or prevented you from doing so? If you didn’t make a formal list last year, try to think of where you were a year ago and see if you progressed as much as you thought you would. 2. Use that information to set your 2023 goals Now that you know how far you came in 2022, jot down what you’d like to accomplish in 2023. Don’t worry about getting specific here – it’s just a jumping-off point. Try to be ambitious without being unreasonable. Setting unreachable goals only sets you up for disappointment and a feeling of failure, which is entirely counterproductive. 3. Get specific Flesh out your ideas by paying attention to the details. Use real numbers in your goals. Are you going to make more sales? Raise prices? Find new clients? Outline exactly how you’re going to get to these numbers. The more specific you can be here, the better. It will help you to make your dreams a reality. 4. Sort your goals into categories Once your goals are outlined and detailed, look at them. Some plans are small and quickly achievable. These are fantastic ones to tackle early in the new year to boost your business and get you on the right track. Plan to get to these as soon as possible so you can reap the rewards. There should be some items on your goal list that will take more time, effort, and planning. Break these bigger goals into smaller steps, and create a timeline for achieving each milestone. You will likely have a handful of goals that fall somewhere in between. Distribute these evenly throughout the year in a way that makes sense for your business. 5. Break down the steps in each goal With your short, medium, and long-term goals laid out, go over them with a critical eye. You need to ensure that each one has a clear set of steps to help you achieve it, especially if it is a bigger or more complicated goal. Create milestones for each one of your goals, with what you need to accomplish broken down into manageable chunks. A complex goal may even require weekly targets to help you get to the finish line. After finishing this step, you’ll have a detailed picture of what the year looks like for your construction business. What was once daunting becomes exciting! If you’ve balanced things out well, you’re likely to gain a feeling of accomplishment when you look at this goal map and will be keen to get things underway. 6. Check that each goal is SMART Most of us are familiar with the concept of SMART goals, but we don’t always take the time to make sure they pass this check. Go over your goals to ensure that each is specific, measurable, attainable, relevant (or realistic), and timely. If each goal meets these requirements, you’re good to go! 7. Set reminders to check in each quarter Accountability is key. Set up dedicated time at least once per quarter to review your progress. If you find that you’re falling behind, make a plan at that time to get things back on track. Final thoughts Most construction business owners have an idea of what they want to achieve each new year, but the only way to make those dreams a reality is to plan, plan, plan. It’s the best way to make sure your ambitions come to pass. After that, check in on your project regularly. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 504, And It's About Year-end Closing And Planning For Construction Business Owners The end of the year is typically a reflective time. Something about that lull between holiday festivities and New Year's Eve sets the stage for introspection and review. While you're busy reflecting on the year ending and making plans for the new one about to begin, make sure you take some time to consider your finances.  Preparing your End of Financial Year (EOFY) information often feels stressful—there are receipts to sort out and reports to review. You must ensure you have all the necessary information about your income and expenses. It can be overwhelming, and it can make the EOFY feel daunting. The end of the financial year isn't just a time to collect receipts and find invoices. It's also a time to reflect on how your past year went, what went well and what didn't, and what you can change for next year. Here are three tips to make the most of your end-of-financial year: 1. Consider redoing your files One of the most overwhelming parts of the end of the financial year is finding all the invoices, receipts, and reports you need to file your taxes correctly. Pay attention to how easy it was—or wasn't—to find what you needed this past year. Did you have to search 15 different places for all your receipts? Did you have a combination of online and physical invoices? Did you have clearly labeled folders for everything? Did you leave everything for the last minute? If you found yourself searching high and low for every piece of paper you needed, you might want to consider revising your paperwork, so it's easier and less time-consuming to manage. Can you keep track of everything through software and apps? Is there technology or equipment that can help you? Is it worth investing in a filing cabinet? The effort you put now into sorting your paperwork will pay off hugely every year when you can quickly and easily find all the information you need. Let's face it; you'll come up against the end of the financial year every year, so you may as well be systematic about it. 2. Reflect on your year The end of the financial year is a perfect time to reflect on how the past year went. Celebrate the big successes, but remember to focus on other victories. Even if you didn't meet your financial targets, did you survive a particularly tough year? Did you manage to pivot your construction business and try a new model? Did you take some risks and learn from them? Did you grow your business or expand your offerings? It's great to have goals for each year and celebrate when you achieve them, but it's also important to look at where things didn't go according to plan and how you grew from those situations. You may need to refine your business plan if you're not meeting your financial targets or rethink how you arrive at your goals in the first place. Do this before you start planning the year so you can revise your strategies in the future. 3. Plan for the future Now that you've reflected on what went well and what went sideways, you can better plan for next year. Research upcoming events and schedule your marketing calendar. Plan to address slow times or busy periods. If you didn't meet your financial targets last year, either change how you set your goals or your strategies for achieving them. Many retailers offer significant discounts at the end of the financial year. Does it make sense for you to make a purchase right now? Should you buy new equipment, technology, or other goods now? It may be worth it if you have the money to do so and need those items. Although the end of the financial year can feel stressful, it's also a fantastic time to reflect on the past year and celebrate your achievements. You can take the time to plan and incorporate the lessons you learned from the past year to make the upcoming year your most successful. If you made your goals, that's great! If they fell by the wayside, look at what you could have done differently. Or, take some time to set a more manageable goal to get that sense of accomplishment next December. Construction is a tricky business, and people's failure is common. Most of our clients and people who reached out have failed or come very close. Very close doesn't mean failure because it doesn't matter how many times you are knocked down; it only matters that you learn your lessons, get up and go again. This coming January, it's time to hit that reset button or, better yet, start again no matter what day of the month, no matter where you are in your construction company journey. I chat with contractors like you every day. You tell me your stories. About your challenges in running a business, keeping up with the bookwork (accounting and bookkeeping). About estimating and bidding jobs, doing the work and collections from clients, having (or not having) employees, and paying their taxes. Talk to your clients (or reach out to your previous ones) about their needs, too. Ask them how their habits have changed, what projects they're looking forward to this new year, and the challenges they're facing or, most likely, will need to address in the coming months - roof replacement, bathroom remodeling, renovation budget concerns. Construction is what makes civilization and a civilized society possible. Because of the commitment of people like you to step out of your comfort zone and start a construction company and work it, we owe you all an outstanding debt of gratitude. Thank you for working hard through these past few years when most of us are hunkered down, choosing to continue your service, and maintaining our homes, businesses, and community. May this New Year bring you joy, hope, prosperity, and love. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 503, And It's About Reclaiming Your Time And Switching Off During The Holidays Small construction company owners like you already have a time-consuming and challenging job running your business. If you're working on weekdays, you usually need the weekend to catch up on paperwork, pay bills, and manage any tasks you didn't get to during the week.  But this weekend is Christmas, and with it comes time to relax, focus on family and friends and take stock of what is essential in life. Phone calls from employees dealing with a minor crisis will pull your focus from your family, or your Christmas dinner will be taken over by business talk. Like the merry bells of Christmas, your cell phone will constantly chime with the sounds of urgent text messages and emails that must be dealt with. Clients will need your attention. So, if you've been waiting for a sign or permission to pause, this post could be the one you're waiting for. It's easy to let the construction company take over your personal life, but as a small business owner, it's vital that you get some time away from work. Here are some tips for helping you switch off during the holidays. 1. Shut down entirely for the week If your business can be shut down for a week, consider closing from Christmas to New Year. Your employees will love the time off, and you won't be Small construction company owners like you already have a time-consuming and challenging job running your business. If you're working on weekdays, you usually need the weekend to catch up on paperwork, pay bills, and manage any tasks you didn't get to during the week.  But this weekend is Christmas, and with it comes time to relax, focus on family and friends and take stock of what is essential in life. Phone calls from employees dealing with a minor crisis will pull your focus from your family, or your Christmas dinner will be taken over by business talk. Like the merry bells of Christmas, your cell phone will constantly chime with the sounds of urgent text messages and emails that must be dealt with. Clients will need your attention. So, if you've been waiting for a sign or permission to pause, this post could be the one you're waiting for. It's easy to let the construction company take over your personal life, but as a small business owner, it's vital that you get some time away from work. Here are some tips for helping you switch off during the holidays. 1. Shut down entirely for the week If your business can be shut down for a week, consider closing from Christmas to New Year. Your employees will love the time off, and you won't be bothered by urgent texts about something that went wrong at the office. This time is generally not as productive for workers, as they all want to get home, be with loved ones, and celebrate the season. Just make sure you give your clients some notice that you're closing up. Good clients will respect your decision and even encourage it. 2. Have someone trained to deal with your absence A big headache for small business owners is constant calls from employees who can't carry out basic tasks or make decisions. If you plan on taking time off but are leaving the business open, have someone senior available to answer questions or take over duties other employees can't. Ensure employees are prepared for situations that could arise but can fix on their own. Can they use someone else's computer if theirs dies? If a client calls with a crisis, which staff members can handle each situation? Assign one or two people—not you—to contact people in case staff needs assistance and give those two people strict instructions about when they can contact you. You don't need phone calls on your days off because someone doesn't know how to work the coffee machine. 3. Resist the urge to plan meetings during this time When a client comes to you just before you take your days off and requests a meeting over the holidays, it can be difficult to resist that urge. That meeting, however, will take up time and space in your brain aside from the actual meeting time. You'll prepare for it, think about it, and plan what to say. If the meeting doesn't go well, it will affect the rest of your days off. Instead, push the meeting until after the holidays. Unless the situation is dire, an extra week won't hurt. Or ask another worker to attend the session for you. The key here is to delegate the tasks you don't need to do. As a construction business owner, you have regular duties that need to be done but could be better done by an expert. Doing them yourself takes up a ton of your time. Look at your tasks and determine which ones are eating up your valuable time. Virtual assistants can now be hired to handle general customer service on your behalf. Could you hire a bookkeeper? An accountant? Regardless of your current situation, if you need help, we can tailor a plan to fit your budget and your construction bookkeeping needs.  You will not know whether it is a good idea until we chat. One thing is for sure - hiring outside service providers costs money, but we are worth the expense when you consider the time and energy you'll save by not taking on that tedious bookkeeping tasks. Especially when you factor in the extra personal time you'll have. We have options for your business accounting, whether you would like to outsource or do it yourself. Let's figure out a way to free some of your time and get your life back, be with your family and loved ones, and increase your cash flow and earnings while improving your quality of life and relationships. Final thoughts If you're taking time over the holidays, really take time. Don't take time off but then spend that time constantly checking for work-related texts and emails or attending meetings. Put your cell phone away. Stop checking your email. Set an outgoing email that lets people know when you'll respond to their messages, and change your voicemail to note your days off. That way, you can rest, relax, and enjoy your break. Your overall well-being is necessary to you, your business, and your community. You'll need this time to restore your energy for January. I end this by wishing you a Merry Christmas and Best Wishes of Joy this Holiday Season. Enjoy. Be Glad. Be Joyful and maybe a little sad. But try to find something to be happy and grateful for each day. What matters most are our family, friends, and loved ones - those we celebrate with, those we can't be with, and those who are with us in spirit. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 502, And It's About How To Prevent Your Construction Company's Yearly Cycle Of Chaos The year is almost over. Fourth-quarter and year-end deadlines are approaching. Most construction business owners who reach out to us describe this as their "Year End Madness" to prepare their documents for the tax accountant.  The end of the year tends to be chaotic for construction company owners, but it's an excellent time to get some extra housekeeping done for your business. If you're on QuickBooks, you can click the Help Menu; depending on the year and version you're using, you can access the Year-End Guide, which will show you how to wrap up your business year. It's not an easy process, but it's all worth it.  Why? Because tax preparers will take what you give them - they don't have the time, and it's much work that you've paid for, but a good tax preparer will know how much you can save if you can track your money. Bottomline - pay your taxes right, but it doesn't have to be more than what you owe. Since you have a few weeks left for December's statements, ensure everything from November back to January 1st is reconciled. Here are also a few things to catch up on: 1. Review your goals and Key Performance Indicators A lot has likely happened for your construction business over the previous 11 months. The end of the year is the perfect time to look back and see how your performance is stacked against your goals. Consider your KPIs and review how you did. Be honest with yourself. If you didn't make your goals, that's okay. Now you can look at what went wrong–or right–and adjust accordingly. Were there surprises that affected your business? Could you prepare more for slower times? Did you take on too much all at once? If you met or exceeded your goals, take some time to celebrate the achievements. 2. Review your business plan Seeing how reality compares to your original business plan is always surprising. Allow yourself to evaluate how you're doing and see if your construction business is becoming what you hoped it would. If it isn't, ask yourself if your goals and vision have changed or if you haven't been focused enough on them. It's okay to adapt your dream as your business evolves and you understand the market better, but make sure the change is one you intend to make, not one that's happened unconsciously. 3. Reconcile accounts receivable Unpaid invoices are often one of the biggest disruptors to cash flow. Check if you have any outstanding accounts and remind those clients to settle before the year ends. It also doesn't hurt to double-check if you have any amounts owing to your suppliers and pay those. 4. Catch up on expenses This is especially important if the end of the calendar year also marks the end of the tax year in your location (as I would like to remind our readers from outside North America), but it's a good practice for anyone. Ensure you've accounted for any eligible business expenses by year's end to stay up to date for tax season. 5. Verify vendor or client information You already know that your business has changed for the year. The same is true for all the other companies that you work with. Take some time to ensure you have their correct information and are aware of any changes to their business terms. 6. Review subscriptions It's easy to let subscriptions fly under the radar, but they quickly add up. Review your active subscriptions and cancel any that aren't relevant anymore. It's easy to get more money in your pocket, and it's fun to choose some new ones for the new year that better meet your needs. 7. Send out year-end letters Put together a year-end letter for customers or clients and another for employees. Let your clients know what you've been up to over the year, share some of your milestones, and let them know how much you appreciate their business. Highlight any community events that your business was a part of. It's an excellent way to stay in touch and keep yourself fresh in their mind for when they may need your services in the new year. Thank your employees for all their hard work over the year. Call attention to your successes and celebrate all that you've achieved. It's a great way to provide recognition and highlight the most important events of the year. 8. Consider end-of-year gifts or bonuses The end of the year is a terrific time to reward employees for a job well done. Even if you have an established bonus program, it's always nice to surprise employees with a gift. It's a personal way to say thank you and tell them how much you appreciate them. Final thoughts The end of the year is notoriously busy, and the holidays make it even harder to get things done. However, it's a great time to reflect on and celebrate your accomplishments. You'll be glad you did when the new year rolls around, and you feel like you've wrapped the year up in a bow – ready to take on the next one with a sense of renewal. If you are still asking yourself the $64,000 questions: What about this and that? Have I met my goals for this year? What should I do for the balance of this year? What are my plans for the start of next year? Should I start now? Should I wait? I can't decide! - It is time to start fixing those loose ends now! The reports are only as good as the data received. Contact me to discuss your needs. If you don't know the answers tell me as much as you can, and I will do my best to "fill in the blanks." 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 501, And It's About Key Drivers To Improve Construction Profitability And Cash Flow Enlightened contractors like you understand the value of developing your own unique Construction Contracting System, a collection of documented repeatable processes and operation manuals. The key is continuously refining your construction company's practices and procedures. Your office ensures your contracting company has a steady flow of projects. Proper accounting and bookkeeping develop timely financial reports to show which jobs are profitable so you can pursue more. Thus, you can focus more on the following: Acquiring the right clients Doing the project as close to on time and budget as possible Get job deposits and timely progress payments Follow-up with clients to monitor satisfaction and line up new projects Boost profitability by recognizing your key drivers Identifying the key drivers of your business is critical to boosting profitability. A key 'driver' significantly impacts your specific construction business's performance. A whole range of factors can affect the performance of every business. The secret is to focus on a handful of drivers that: Affect the performance of your business significantly Are measurable Can be compared to a benchmark, such as last year's figures or an industry average Can be acted upon Make use of benchmarking Use past figures as a benchmark for current performance. Figures for last year or last quarter provide hard facts and established patterns that expose potential problems and opportunities. Also, compare your construction business with other similar companies, especially competitors. Your accountant, bank manager, or industry association may be able to supply industry benchmarks. What are some of the key drivers in business? Critical drivers vary from business to business, and in construction businesses, they include: Sales lead in capital goods or service Market share where only the biggest will survive 'First-time fix' in a maintenance business Even direct competitors may have different drivers. A prime location is not a key driver for a floor installation business, but it is for a brick-and-mortar competitor that relies on a well-located retail store if they sell hardwood flooring and carpet and provide installation services. Some of the following drivers might be relevant to your business: 1. Converting leads into sales The number of leads (information requests or quotes given) provides early warning of any peaks or downturns in your sales. If you have an established leads-to-sales conversion ratio and know the size of an average sale, you can use the pace of leads to forecast sales. Monitoring sales figures can show:  - Which categories of products are selling well - What each salesperson has achieved - If lead conversion rates are improving - Keep your costs under control Maintaining a healthy gross profit margin is critical. If your gross margin percentage is falling, take swift corrective action. The causes could include higher input prices, a changing product mix, production inefficiencies, or excessive discounting. If you run a service business that bills out time, it can be helpful to treat consultants' salaries as a variable rather than overhead costs because this makes it easier to work out who is making you money. 2. Collecting receivables efficiently Your accounts receivable collection period (the number of days on average to collect customer payments) is an important driver to monitor. Try to improve your past performance and at least match the industry standard. If the standard is 35 days, and you take 45 days on average to receive customer payments, then improve your collection activities immediately. Bill promptly and highlight overdue payments for prompt action. The key is consistency – late payers should know that you'll unfailingly contact them. 3. Optimal inventory levels Your inventory turnover rate is the ratio of cost-of-sales to inventory. Most businesses aim for a high inventory turnover rate because it indicates an efficient use of capital resources. If the ratio decreases, find out why. For example, you may be overbuying or purchasing inventory you cannot sell. The more you can break down your inventory figures into separate product categories, the easier it will be to pinpoint problems. 4. Hours billed An interior designing firm had a disappointing level of monthly sales for years until the owners realized that hours billed per consultant per week was the key driver. Once they began monitoring this, they could see which consultants were earning the revenue. The firm could then target small and manageable improvements – such as billing 30 minutes more a day each. Attitudes changed overnight, and sales increased significantly. 5. Turning over staff A plumbing company recognized that staff turnover was their driver. A skilled plumber with sales experience was three times more productive than a new recruit. The recruitment and training process for new salespeople also significantly burdened the business. The plumbing company introduced a long-term incentive into salary packages to reduce staff turnover. It also introduced quarterly performance reviews. 6. Defective/Wrong goods A painting supply and service business found that the defect ratio was a driver. Defects or wrong paint color led to goods being returned, extra time wasted on rework, delays in payment, and lower profit for the business. The company reorganized the workforce into 'quality cells,' and productivity increased significantly. Identifying the five key drivers you need to focus on What key factors enable your small construction business to outperform its competitors? Try to identify the five key drivers you need to focus on. The questions you need to ask yourself are: What drives the sales figures? What drives the costs? What drives the cash flow? Final thoughts By optimizing these Key Drivers, successful contractors understand how and why the construction business cycle works. Cost is what you see; the profit potential is what you don't see. High-profit construction company owners focus on both and understand that "It Takes Money To Make Money." Next Steps: What gets measured gets managed. After learning your key drivers, it's time to understand your reports and use them to your advantage. {{cta('50be41f5-209e-4d3c-915e-b9df12ca6b69','justifycenter')}} Discover insightful lessons with actionable tips for your bookkeeping processes with our Five Key Performance Indicators online course. Get your reports done with our "Five At 5 For 5" approach and improved practices. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 500, And It's About Cost-Reduction Strategies For Construction Company Owners Cutting costs can be a quick and easy way to improve the profitability of your construction business. Introducing cost-control measures can bring immediate savings and ensure you remain profitable in the long term. But cost-control measures must be carefully managed. Eliminating errant expenses is beneficial, but indiscriminate cost-cutting could lead to a drop in quality or poor morale if staff fear being made redundant or are not given the tools they need to do their job efficiently. This risk is heavily reduced by identifying where you can safely trim costs, setting clear cost-reduction targets, and researching any cost-saving initiatives before making changes to your contracting business. Planning for effective cost-control The first step towards reducing costs is identifying your major cost areas. These are likely to include: Production Purchasing Sales and marketing Financing Administration Facilities maintenance 1. Profit and Loss Start by assessing your profit and loss statement for the last six months and rank all your expenses from highest to lowest, working your way down the list and identifying areas where you can reduce costs. It's a good idea to first focus on identifying cost-saving measures in places where you'll see the most significant return. For example, it's wise to work toward saving 5% on a $200,000 expense rather than a slightly higher percentage on a lower-cost expense. 2. Try new ideas You might find it challenging to anticipate savings without implementing new systems and processes. Remember that any changes you make don't need to be permanent. If you aren't sure if a cost-saving measure is suitable for your business, consider trying it for a few months and then assessing the results. This way, you'll know the actual cost savings without committing long-term to new processes or changes. Any new processes or systems should be benchmarked and frequently revisited to ensure they are still suitable for your business. Consider asking staff for feedback around any changes to confirm that no hidden problems could cost you more than the cost-saving value. If you are in doubt about any potential changes, consider seeking professional advice from an accountant, industry association, or business mentor. 3. Quick savings You might be surprised that significant savings can be made without worrying about your quality and affecting performance. Here are the most popular ways to trim costs without making radical changes. Eliminate unnecessary costs – start with waste reduction, heating costs, and utility charges. Reduce inefficiency by identifying manual tasks that could be computerized or completed less frequently. Avoid frequent, small orders that cost more than larger orders and take additional time to complete. Reduce travel expenses by booking air travel earlier and using cheaper accommodations on business trips. Find alternatives to high-priced suppliers or negotiate better payment terms or discounts on purchased goods. Revise your credit policies to encourage prompt payment. Brainstorm immediate cost savings with your staff – they might have some valuable suggestions you may have overlooked. 4. Significant savings Once you have identified your major cost areas, you may want to investigate potential ways to save money by changing existing processes. Some of the most common opportunities are listed below, but before adopting any changes, you should be aware of any potential damage to your core business activities. Cut payroll costs by outsourcing non-essential activities. Redesign your existing processes to eliminate duplication and cut time wastage. Make use of current technology or the latest industry innovation. Agree to long-term supply contracts, or guarantee a minimum purchase amount to secure better terms. Trim back or revise your current product offering and remove poor-performing products. Form strategic alliances with other businesses to buy larger volumes. Consider subletting office space or relocating to a more cost-efficient location. There may also be other costs, such as long-term, fixed-rate business loans or fixed-price contracts for raw materials, that you may be able to reduce when these are up for renewal or tender. Pitfalls to avoid Reducing costs can have a negative effect, so you'll need to be sure that changes will not compromise your operational performance. Some common pitfalls include: Over-dependence on one supplier could put you at risk if your supplier fails. Reducing your marketing budget could affect your marketing strategy. Tighter control of business finances could leave you without a safety margin if cash flow becomes tight. Cutting short-term costs such as training, research, development, or advertising can lead to long-term weaknesses. Employee costs Reducing employee-related costs is generally risky and counterproductive in the long term. Reducing costs such as staff training or meeting times could lead to poor staff morale and reduced productivity. Making employees redundant could bring short-term costs and the risk of possible employment proceedings. It may also contribute to low morale. Changing an employee's terms and conditions can also create legal issues in some circumstances, so it's always a good idea to get expert advice before making a decision. These problems can be minimized by maintaining clear communication with employees. Introducing cost-saving through improved practices and procedures will require a degree of employee 'buy-in' so your employees know why you are making changes. Employees may need additional training and support over these periods. Next steps Schedule a staff meeting to review your costs and brainstorm possible saving measures. Commit to an ongoing cost-control and monitoring process (or delegate to key staff to manage the process). Ask your accountant to assist you with cost-saving initiatives or brainstorm ideas. Final thoughts Every small construction business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of your business's nature, the first step to reducing your overhead costs is to take the time to go through every single expense you have -assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated. It's important not to rest on your laurels. Continually thinking of ways to reduce your overheads is essential for a healthy cash flow, so conducting regular reviews of your business expenses should be a routine task. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 499, And It's About Construction Company Employee Vs. Contractor - What You Need To Know Depending on the nature of your construction business, you may have workers who are employees or contractors, or you may have both. Each has its merits, but it's important to review which are to meet your tax obligations. With so much discussion about employees, payroll, and payroll taxes, you may feel like missing out by not hiring many employees. The reality is that as a small business owner, you do not have to hire employees. To hire or not to hire employees is one of the few optional things where the business owner can choose, change their mind, and change direction as needed. When you have an employee, you must withhold income tax and report on additional benefits. Contractors generally look after their tax obligations. Is there another way? Yes - to outsource most of the mundane low-value tasks that take time away from what you are skilled in. As the owner, you can use that time to meet with clients, create estimates, collect money, pay bills, and have a little left over. It's against the law to treat an employee as a contractor. Significant penalties apply if you do, so it's essential to get it right. The simplest way to remember is: An employee works in your business and is part of your business. A contractor is running their own business. But how can you be sure that you've got an employee or a contractor on your hands, especially with remote work blurring the lines between employees and contractors? Does it come to the point that you should be hiring a worker as an employee when you thought they were a contractor? There are six factors to consider: 1. Ability to subcontract or delegate An employee is not able to subcontract or delegate the work. They must perform the outlined tasks themselves. If they can't do the work themselves for any reason, say a prolonged illness, and someone else does it, this is a substitution. Your business would then pay the other person to carry out those activities. A contractor can delegate the work as long as they're not obligated to do it themselves per the contract. If your contractor didn't work, they would arrange for another qualified person to do it. You would pay your contractor, who would then pay their subcontractor. 2. Basis of payment An employee is paid a set amount per period. The most obvious example would be an annual salary or hourly wage. Some employees are paid piece-work rates. They receive an amount per successful sale or per the number of pieces produced. A commission basis would be a price-per-item structure. A contractor, however, is paid an agreed-upon price in exchange for a predetermined result. Some contracts may specify the amount to be paid in increments as stages of the project are completed. But the key takeaway is that a contractor is paid when the agreed-upon result is achieved. 3. Equipment, tools, and other assets If your business is responsible for providing the equipment, tools, and other assets required to perform the job, that's characteristic of an employee. If the worker is providing these items, they are likely a contractor. 4. Commercial risks Employees do not bear the commercial risk and are not liable for correcting any defects in the work at their own expense. Instead, your business takes this responsibility. The worker will be paid for the time required to complete the task. A contractor assumes commercial risk. They are responsible for fixing any mistakes on their own time. Your business does not have to pay for any extra time taken or materials used unless otherwise specified in the contract. This additional work would fall under the umbrella of the terms set at the beginning of the project. 5. Control over the work Employees have to complete the work the way the employer specifies. What work is done, where it's done, how it's done, and when it's done are all up to the employer. The employee then completes the work as required. Contractors are not subject to the same rules. They decide when and how the work is done, so long as it meets the obligations laid out in the contract. For example, a contractor could work three 10-hour days rather than four 8-hour days to complete a job. 6. Independence An employee works within a business. They complete tasks as required until they leave the job. A contractor operates independently and may have other contracts with other companies. They can freely accept and refuse other work. Their obligation is complete when they deliver the specified outcome. Final thoughts Don't add staff just to have staff. Employees are expensive. In Washington State, it is mandatory to offer Family Leave and PTO. Family Leave is similar to State Unemployment which is calculated on gross wages. PTO (Personal Time Off) is at a rate of 1 hour per every 40 worked. The employee can use the time off anytime they want – no notice given) Other benefits may include paid vacation and holidays. Most construction company owners like you are doing what they can to survive and thrive in tough economic times, and we are here to support and hopefully help you stay out of trouble where we can. It can be confusing to determine between an employee and a contractor, but it's crucial that you do so to meet your tax obligations and play by the rules. Contact us to learn more about your tax obligations for employees and contractors. P.S. Here's a Promo Code that you can use in both our Fast Easy Accounting Store and Construction Accounting Academy for a 40% Discount: CONTRACTOR40 You can use it today, November 25, up to Sunday, November 27, 2022, at 11:59 PM. (Please note: Offer does not apply to Outsourced Accounting, Bookkeeping Review, or any Consultation and Training products; you can use it, however, to purchase any course or monthly subscription classes in Construction Accounting Academy). For questions, suggestions, or comments, email me at [email protected] or call me at 800-361-1770 or 206-361-3950. I look forward to helping you with your business goals. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 498, And It's About The Solution To Your Construction Company Equipment Dilemma Is it time for your construction business to invest in some new equipment? And if so, is it a more brilliant business decision and cost-effective to rent or buy? Black Friday, followed by Cyber Monday, is coming. The real question is what equipment is on your business shopping list. It is all a question of your budget, income, cash flow, profit & loss, and taxes. Why you might need new equipment: The right equipment can enhance your processes, productivity, innovation capacity, and bottom line, but should you buy now or wait till a later date? A few reasons you might need to purchase new equipment now are because: - You have some big contracts coming up and need to increase production. - Your construction business is expanding at a fast rate. - You need to replace some aging equipment to maintain your business’s high standards and keep up with the competition. Evaluate your existing financial state It can be easy to get caught up in the growth of your business without putting the necessary time into assessing whether you’re financially ready to buy some more equipment. Try to look beyond your current situation to project your costs over the coming months or years (depending on whether you plan to hire or buy).  You can reduce the financial impact on your business by: Using financing to buy the equipment – you may even get lower rates than hiring the asset, and after you complete your payments, you’ll own it. Purchasing quality used equipment could be more cost-effective than renting over the long term. Examine your business as a whole Short-term purchases without long-term plans can be costly Consider these questions when drawing up plans to invest in more equipment: What effect will the new equipment have on your human resources? Will you need additional staff or relocate staff elsewhere throughout your business? Can the equipment you’re replacing be used elsewhere in your business? The length of the job or project A crucial deciding factor as to whether the right time to purchase more equipment is now is the length of an upcoming project (or the frequency of extra jobs coming up). Additional short-term work suggests hiring would be a better option. Likewise, if you need a highly specialized (and expensive) piece of equipment, it might be preferable to hire it. It makes more sense to buy for longer-term projects. Hire costs can add up quickly as a job gets delayed and pushes past its expected finish date. Usage and availability Knowing that the right equipment is available to your business whenever needed is a significant advantage. If anything unexpected happens with a job, you’ll have the necessary equipment to react and reschedule. Potential clients will also notice that you own the equipment necessary to complete their requests, helping develop trust with your business. When you decide whether to hire or buy, consider the risk of your preferred hire company not having the equipment you want when you need it. Deciding to hire or buy You can get the new equipment you need by renting (hiring) or buying. Each has advantages and disadvantages, so it’s worthwhile assessing your business’s current financial situation, its current capabilities, and its plans (for growth). Weigh up the pros If you choose to purchase new equipment, the advantages over hiring will include the following: Availability – you can be sure the equipment will be available when needed. Ownership – you own the equipment and can potentially get a return on it when you sell it. Additional financing – if using a loan to pay for your equipment, you might be able to get extra funding to cover transport, training, or installation. If you decide to rent the equipment, the pros include the following: Cost – smaller initial investment Maintenance – the lender, should handle insurance and maintenance. Technology – you can usually hire the latest equipment available and should be able to upgrade as your project progresses. Will renting make your life easier in the short run while you consider buying at a later date? Will buying now be more beneficial to your business over the longer term? On the accounting side: If you buy before - the end of the year – the Internal Revenue Code – Section 179 allows for accelerated depreciation. If your purchase is less than $500.00, it is always a qualified expense. The bigger stuff is Vehicles / Tools Mounted On A Trailer / Generator / Specialty Equipment. Depending on type - Life span and cost basis can trigger other tax reporting rules. Section 179 accelerated depreciation has been in place for many years. Three reasons the 179 accelerated depreciation went into effect: Stimulate the local economy – some purchases, such as QuickBooks, are purchased at local stores. Give the business a reason to grow and expand by adding new equipment and additional employees. Useful life ended long before the depreciation schedule ended years later. Everything comes back to two issues - Taxes and Cash Flow If you have the cash or can finance, do you need to buy a piece of equipment for the field? If you have the cash or can finance, do you need to buy a piece of equipment or software for the office? From an operations viewpoint - If you purchase either now, can you use it to make or save money? It’s easy to assume that the deduction will always be available. Congress decides what changes year over year in the details of the deductions. At one point (several years ago), vehicles over a certain weight (SUVs) had a cap on the depreciation deduction. They were considered luxury vehicles, and the extra features were unnecessary over the basic pickup truck. Summary A wheelbarrow and a shovel are cheaper but would a small Hitachi be more productive and cost less in the long run, which could give you more money to operate and grow your construction business?  Taking into account the points above, you’ll get a clearer idea about whether now is the right time for you to purchase more equipment, either with your capital or through financing, or whether it’s a better option to hire for the time being. Next steps Talk to your accountant to discuss the pros and cons of hiring and buying new equipment. Have a word with your bank manager about whether you can get funding to purchase the equipment your business needs. Reach out to me; I'm ready when you are. 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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 497, And It's About A Guide To Construction Client Retention Long-standing customers form the backbone of a robust and well-established business. Make it your mission to ensure that most of your current customers stay with your company for many years. Understanding the High-Profit Client Most of them have personality traits commonly known as drivers. Folks accustomed to getting things done quickly and efficiently do not mind paying professionals for servicing, repairing, remodeling, or building new construction projects related to their houses and commercial buildings. Why it's vital to keep existing customers Your current customers already have personal experiences dealing with your business and using its services. You won't need to spend much time, money, and energy convincing them to continue hiring you. You and your staff know your current clients well. They're likely to increase the amount (or the frequency) of their purchases and recommend your business to others if you: Solve their problems. Meet their needs. Exceed their expectations. According to the US Chartered Institute of Marketing, it costs between four and ten times more to win a new customer than to keep a current customer. Therefore, it's vital to implement outstanding client service to convert occasional customers into loyal, long-standing regulars. 1. Communicate consistently and manage expectations Let your clients know what they can expect from your business, including timescales. Ensure emails are clear Your loyal clients deserve communications that are more personal and less formal. Using impersonal emails for your more extensive email list is fine, but use more personal touches with your best customers. 2. Show your customers you appreciate them You can show your customers you appreciate them in many different ways, including: Thank them personally for hiring you. The more special your clients feel, the more likely they will hire you again. They'll appreciate your thoughtfulness and value your service. Offer your long-term customers bonuses for their loyalty. Giving them a voucher, so they save money the next time. Or a voucher for someone they know who needs your service. It's great to offer new customers rewards and incentives, but that leaves existing customers feeling ignored. 3. Develop customer service standards Develop customer service standards for your business. You could use some of the following guidelines for your business's customer service standards. Try to: Be polite, helpful, and friendly to your clients at all times. Respond to emails as quickly as possible, preferably within three hours but within a maximum of 24 hours. Listen carefully to questions and requests so that you can offer the most appropriate help or advice. Inform customers immediately if there's an unexpected delay in processing their requests or implementing change orders. Train your crew in customer service - everyone in your business who will contact customers should be trained in customer service. Use your business's customer service standards as a basis for your training. Ensure staff knows precisely what's expected of them when interacting with clients. 4. Deal with customer complaints effectively Regard each customer complaint as an opportunity rather than an annoyance. This allows you to handle the complaint satisfactorily. If a customer complains, it shows they still care. Steps to take when a customer complains Train your staff members to take several steps whenever a customer complains. They should: Listen carefully to what the customer is saying. Understand exactly what they're complaining about and why. Admit any mistakes that your business has made and apologize to the customer. Make amends quickly. If necessary, ask the customer what they would like you to do to remedy the situation. Promise to do better next time. Test and improve your business's customer service There are several ways to find out how well your staff is handling their customer service duties, including: Asking customers for feedback on how your business could improve its customer services. Inviting your staff to suggest how your business could treat its customers better. Use all these ideas to develop and extend your customer service skills. Ensure each employee has ongoing training. 5. Exceed customer expectations Ways you can exceed your customers' expectations include: Delivering an excellent product or service. You'll keep customers for life if you exceed their expectations. Responding quickly to all customer questions, requests, complaints, and other communications. Training all your staff in excellent customer service skills. Managing all aspects of a transaction efficiently, from the sale to the delivery to invoicing. Dealing with complaints quickly and effectively. Delivering on your promises. Never promise anything that your business can't provide. Final thoughts Build relationships with clients and take time to learn more about them. Recommend solutions that address their specific problems. Go the extra mile to show your customers they're important to you. Ask for their input, as well. They'll get to know your products and services and offer insights into what's working and what could be improved. If you engage them--and make changes based on their feedback--you'll develop a loyal customer base. Encouraging repeat customers makes solid business sense. It's far less expensive to keep an existing customer than to win a new customer. Recognize the value of your customer base and invest in building an exceptional customer experience that will ensure your customers return for many years to come. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 496, And It's About Managing Payment Terms For Your Construction Business Clients Getting paid correctly and on time by customers can be a constant frustration for business owners. Communicating your terms is the best way to ensure you aren't out of pocket – or are left chasing debtors. Investors, developers, and shrewd business people designed the most popular method - those who understand the concept of divide and conquer - it is when contractors get little or no down payment for a construction project, do all the work, including change orders, and then try to collect their money. What often happens is that contractors hate paperwork preferring to keep everything in their heads. Then when it comes time to collect their money, they have to re-sell the job and talk their customer into parting with their money. Contractors who finance working capital with their own money and whatever they can borrow will earn less profit and put themselves at a higher risk of failure than contractors who use Other People's Money (O.P.M.). The importance of setting your terms of payment Your payment terms let clients know when and how you expect to be paid. Setting your terms and letting your customers know your expectations gives you better control over your business and a valuable platform for resolving potential payment issues. Remove barriers to sale Setting payment terms shouldn't discourage regular or new customers from doing business with you – there are advantages to giving clients several options. Encourage clients to hire your services and remove barriers to the sale by making the purchase as easy as possible through a variety of ways to pay, including: Mobile payment options. Cash or check. Bank deposit. Online money transfers to your bank account Debit or credit card payment. Take the time to become familiar with all these options and their relative pros and cons. You might, for example, decide to accept only major credit cards, offer a discount for cash, or give your staff leeway to negotiate cash discounts if customers request this. Know your industry's norms It's worth researching your industry's generally accepted payment terms and terms competitors use. This doesn't mean you have to follow suit. You may be able to spot a gap or opportunity to be more flexible. The following examples could build a competitive edge: Feature more payment options than most competitors. Provide quicker and easier ways to pay. Offer a discount for cash deals that give you immediate cash flow and protect you from credit payment defaults. Offer longer payment terms in return for a slightly higher price. Investigate faster and more convenient ways to pay using the latest smartphone technology. Offer variations for payment There are numerous terms you can set out for your customers to pay. Sometimes it's best to use a method that works for you both. Payment in advance Some businesses, such as those operating over eBay or other auction sites, require payment in advance to protect against possible online fraud. Customers first pay the purchase price (including shipping costs). You then wait for the payment to clear before supplying your services. Although this might not work for your type of business, still be wary of relying on a bank deposit or email confirmation not sent directly from the depositing bank as proof of payment. Progress payments These can be useful when working on a lengthy project, such as building a house or a massive remodeling project. Progress payments serve two critical purposes: 1. They provide a regular cash flow to pay running costs. 2. They protect you against total loss if your client goes bust. Standard practice is to build progress payments into contracts based on measurable milestones. Early payment discounts Early payment discounts can encourage people to pay on time. They're more useful on higher-margin services as the deal will have less impact on your profits than thin-margin products. For example, if you offer clients 60 days of credit, consider a 5% discount for payment within 30 days. Some clients will try to claim discounts after the due date. If you don't stick to them, your customers won't either. It's in your interests to politely but firmly point out your terms of trade. Contracts and debit orders Businesses that offer regular services, such as plumbing maintenance, can benefit from offering customers a set annual (or longer) contract. The attraction for the customer is a price that's typically lower than paying for each visit or service. Requiring the client to set up a debit order eliminates time chasing payments. Spreading the cost over 12 monthly payments can also make it easier for them to manage their budgets. Meanwhile, your business benefits from a regular cash flow. Selling on credit Selling on credit terms can expose your business to delayed payments or outright loss, affecting your cash flow. Some rules to help you include: Developing or adapting a credit application form – your bank manager can help. Asking customers for business references and permission to do a credit check. Setting agreed on credit limits. Clarifying your payment terms – 30 days or 60 days are the most common. Explain any interest charges you'll impose on late payments. Getting your customer to sign acceptance of these conditions to prevent future arguments. Monitoring any overdue payments or orders that will breach agreed credit limits. Choosing your payment terms By now, you'll have a sure idea of payment terms that could suit your business. Run your choices past your accountant, bank manager, and lawyer for their input. Remember that your terms should attract clients, not turn them away. You might lose sales if you don't accept credit cards or add a surcharge for credit card payments. In this case, weigh the extra costs of accepting credit card payments against the business you might otherwise lose. It's your decision. Communicate your terms to customers Whatever your payment terms are, clearly communicate these in your terms of trade, website, and business materials. Final thoughts There are many accounting and invoicing software platforms and invoice templates out there that you can use. As a reminder, billing your clients depends on your signed contract, and sending invoices is based on this agreement's details. Again we recommend you hire a reasonable construction attorney and have that person write your contracts. Depending on your business needs, we can always help a little or a lot. 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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 495, And It's About The Common Construction Payroll Implementation Errors You Can Easily Avoid   Small business owners spend an average of eight hours monthly performing payroll functions. That's 12 business days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers. Upgrading or changing your payroll system comes with a ton of attractive benefits. Saving time and money, making everyone's account more manageable, and better integration are all excellent reasons to consider a change. But if the switch is mishandled, the results can be catastrophic and lead to long-lasting problems. Read on for tips on avoiding a disastrous payroll system migration. 1. Give the project the time it needs People may indeed enjoy coming to work. But for most people, earning money is the main reason they seek employment. Our jobs make the world go round and support our families and us so that we can afford everything else. Not getting paid, or getting paid incorrectly, is a massive problem for your employees. As a business owner, you want to ensure your employees are paid right and on time. This protects your business, but it also protects their happiness. Changing payroll systems is a huge undertaking. There are many moving parts and people who will be affected. Make sure to give this project the time and attention it deserves. Determine what will be necessary to make the transition, understand whom it affects, and communicate with everyone involved. The planning process is critical. Treat it as the foundation for making the switch, and the rest will fall into place. 2. Map out integrations All payroll software will do the basics, but that's just the beginning of your new system. Learn about what other software will integrate with your new platform. Do your research for what add-ons you will need, and build accordingly. Your new system will be able to connect with HR software, advanced accounting functions, time-tracking tools, and so much more. Envision what your complete system looks like and understand how to get it to all work together. When you have the complete picture from the planning stage, it will make the transition a lot smoother. 3. Adjust the platform to your needs The primary motivation for implementing a new payroll system is to make things easier. Yet, many businesses overlook the ways that their new technology can help. It's easy to lean on old methods for getting things done because they're familiar, but that would be a mistake when switching to a new payroll system. Make sure you know about and understand the features of your new platform. This is where the real-time, money, and energy savings will come in. Automate anything you can. When these tools prove their worth, your team will understand the reason for switching. 4. Don't bring over insufficient data When implementing or switching to a new system, take the opportunity to go over your incoming data. Yes, all of it. Get rid of what you don't need while keeping in mind what you have to keep on hand according to any relevant tax agencies. While payroll software is beneficial, it can only do so much. If you put insufficient data in, it will spit bad data out. Go over the information you're inputting with a fine-toothed comb to get the best result. 5. Test, test, test Before you officially implement anything, make sure to test it out. This phase is critical and is often overlooked. There's no quicker way to turn your staff off of something new than for it to work poorly or not right out of the gate. Take the time to test now and reap the benefits when you go live. A Better Approach If you think hiring a full-time in-house payroll staff is not practical, you can always come to us and let us take care of your payroll. Whether you need weekly, fortnightly, or monthly processing, our team is flexible enough to do it for you.  When contractors ask which payroll option we recommend, we often say Direct Deposit. As usual, the reasons are simple and related to our primary role as "Profit And Growth Specialists For Contractors" and our mission, which helps you - the people of the most significant industry on earth - the construction industry, to achieve your definition of success.  Option 1 - Paper check looks like the least expensive. Calculate payroll, handwrite or print a paycheck, and hand it to your employee. What is the first thing an employee does after getting a paper paycheck? They go to the bank, or the check cashing store and get cash! If they are paid for travel time to and from the job site, they will typically cash their paycheck to the job site or take a break as soon as the bank opens. Considering this scenario, there are three costs to consider:  #1 Travel Time - It will take ten minutes to detour to and from the bank or payday advance company, plus ten minutes inside the building. For example, you pay your employee $25.00 per hour, which means every ten minutes of doing personal business on company time costs you $5.94, multiplied by three equals $17.82. If your company earns 10% Net Profit, you need to sell another $178.20 worth of work to compensate for your loss. If there is more than one worker in the company vehicle, multiply everything by that number. #2 Cost Per Mile - To operate the company vehicle, which varies depending on the type of vehicles your company uses. Generally, the numbers range from $1.25 to $1.75 per mile. This considers Fuel + Insurance + Repairs + Maintenance + Registration + License divided by the number of miles driven. In this example, we estimate a three-mile detour at the middle range of $1.50 per mile = $4.50 #3 Delays On The Job - In construction, you deal with project-based systems, not operations or manufacturing-based operations. Every additional day you have to mobilize and de-mobilize costs you money. For example, if it takes (15) minutes for (4) workers to get set up in the morning and the same amount of time at night, your total costs could be $121.92. Total cost for paper checks - between $15.00 and $50.00 per employee. To get the actual results for your company, some analysis would need to be run, or you would look in your Business Process Management System (BPM) for the answers. Option 2 - Direct deposit could cost an additional $5.00 per payroll and $0.99 per deposit. Direct deposit drops into your employee's bank account one minute after midnight on the day payroll is due. Having a Professional Bookkeeper prepare the payroll is less with direct deposit because of the time saved in making and printing the paper checks, setting them aside for you to sign them, stuffing them in the envelopes, and taking time to pass them out. Option 3 - Debit Card is similar to a direct deposit. The difference is that the employee does not need a checking account. Final thoughts Deciding to change your payroll system is a big undertaking. But some planning and preparation can be a smooth and rewarding transition.  As payroll experts in the construction industry, we can keep your employees happy with timely and accurate wages, maintain tax compliance, and significantly ease your back office burden.  So get in touch with me today if you'd like to learn more about how we can help make payroll easier for you. Give yourself the peace of mind you deserve!   We help a little or a lot, depending on your needs. I look forward to being able to assist you with any option that best fits your company.  Please feel free to download all the Free Forms and Resources that you find useful for your business.   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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 206-361-3950 or [email protected]

This Podcast Is Episode Number 494, And It's About The Five Signs You Need To Start Outsourcing Your Administrative Tasks When you start a small business, it's usually only you behind the whole operation. You wear many hats, from CEO to clean-up crew. As you pour your heart and soul into your business and it begins to grow, the amount of work involved grows. Because a small business focuses on survival, you pay much attention to the bottom line. This makes much sense, but it also leads to being seriously overworked. These days, contractors are under increased pressure to cut their prices to get enough work. And that means they need to reduce costs. New technologies and approaches in cloud computing for construction accounting give forward-thinking contractors a fantastic ability to get more for less -but in most cases, contractors' heads are still stuck in 1990, thinking they have to do everything themselves. There will inevitably come a time when you must consider letting go of some control and paying others to take some things off your plate. Here are five signs that it's time for you to start outsourcing tasks: 1. You're overwhelmed and stressed This one's a dead giveaway. If you find that there isn't enough time in the day, you're losing sleep, free time is a thing of the past, and you're not your usual self — you've reached burnout. This is not a sustainable place, and it would be wise to start offloading some activities ASAP. 2. You're spending time doing things you hate Nobody goes into business hoping to spend their days completing tasks they despise. It starts with a dream or an idea for how to make things better. Or even an idea for how to make more money. Whatever the reasons you had for starting your construction business, they likely did not include doing tedious chores that you don't enjoy. When you decide to outsource, start with functions that are eating up your time in an unenjoyable way. Once you let these go, you'll find your purpose renewed because you can focus on what you love about your business to begin with. 3. Quality of work has gone down When you're working hard and trying to manage all aspects of your business, it can be easy to miss this sign that you're not juggling it as well as you thought. The first signs often come from a client complaint, like delivering a lower-quality product or missing something in your services.  When the quality of your work declines, it's time to hire some help. If you do not satisfy your customers, your business will begin to suffer – and then you won't need the extra support because there won't be a business to run. 4. No time to grow If you want your construction company to grow, you need time to plan for it. If you're getting by and unable to plan your next steps, you need to outsource some tasks. When you find that you're barely holding it together to get everything done and there's no time for anything else, get help. No business gets to the next level by completing the bare minimum. 5. No personal time When your work life is taking over your personal life, it's time to enlist some help. It isn't sustainable to work so hard that you have no time for family, friends, or enjoyable pursuits. Did you get into business so you could work 16 hours a day, seven days a week? Probably not, but you may find yourself doing that for weeks and even months at a time. You might save a bit of money, but you will also exacerbate your stress and miss out on the enjoyable parts of life.  If that's the case, you're going to burn out. It's time to get some help.  Outsource Your Construction Bookkeeping Anything not related to your core construction business is an outsourcing candidate. When I say, "outsource your contractor's bookkeeping," I do not mean turn it all over to us or any other contractor's bookkeeping service because this never seems to work out well. No, I'm talking about outsourcing specific bookkeeping services related to data entry, bills, payroll processing, and preparing Quarterly Tax Returns. It is crucial that you keep control of your money. Outsourcing a contractor's bookkeeping is one of the ways to avoid bookkeeper embezzlement. Never, ever let an outsider pay the bills, print checks, and authorize payment for payroll or any tax payments. I suggest looking at every part of your internal contractor bookkeeping service and asking yourself a simple question: is this a unique and critical part of our construction company, and is it something that only we do? If so, it stays in-house and needs the brightest minds you have working on it. If not, it is a candidate for outsourcing, and you need to look at it more closely. Outsourcing a competent construction bookkeeper is a sound business decision as it gives you access to expertise and guidance you might not otherwise have, and it frees up your time and money to take advantage of other business opportunities.  Final thoughts As non-employee, we can give helpful, honest advice on improving your procedures and overall efficiency. Most employees want to fill their time and are resistant to change. Outsourcing your construction bookkeeping to us means you can pick and choose what services you want. We will work within your budget, so there are no surprises.  It's a problematic mindset shift for an entrepreneur who has spent all their time trying to save and earn as much as possible. But needing to outsource your tasks is a sign of success. When you take the leap and hire someone to share the burden, you will be pleasantly surprised by the many ways that it pays off. 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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 493, And It's About Management Priorities For New And Experienced Construction Company In the past, Construction Project Managers were laborers or served an apprenticeship in one of the skilled construction trades and were promoted to foreman. This meant many people were more comfortable in manual labor without management skills. And when "things" were put in charge of "people," the results were not usually favorable. Because of this, many construction companies failed and went out of business due to the Cost of Chaos in their businesses. And it is still happening today. In the late 20th century, construction and construction management were separated into individual disciplines, each with its methodologies, terms, and definitions. Project Management Institute developed a set of standards and guidelines, including a glossary of terms to make it possible for construction project managers worldwide to have a common language to communicate. In today's construction business world, there is a need for excellent project management. Highly skilled and qualified Construction Project Managers on your payroll can provide your company with another competitive advantage over your competition which could be like having a money tree in your backyard. As a result, you can put more money in the bank to operate and grow your construction business. Whether you just started your construction business and are a one-person company (just looking to hire a subcontractor for other parts of your project) or a weathered construction company owner looking to regain skills to operate your business confidently, it is essential to prioritize these management guidelines: 1. Put together a solid advisory team Starting a business and owning a construction business can be a lonely process, and thinking you can do it all yourself is the road to extra stress and pressure. Study successful business owners, and you'll find they have surrounded themselves with a strong group of advisers. A typical core team would include an accountant, a lawyer, a banker, and a mentor, such as an experienced business person you admire. You can then add experts who can give you quality advice on specialist areas where you may lack skills, such as finance, production, marketing, or technology. 2. Choose the proper business structure – with advice Should you start as a sole proprietor, a limited liability company, a partnership, or something else? Get advice, as each structure involves legal, regulatory, and tax issues. Think beyond this year. Which structure will carry the most credibility with customers? What's the best system for expanding the business or taking in partners? What form would best suit future investors? Think also of succession – one day, you will want to sell or pass on the business to family, staff, or an outside buyer. 3. Sort out all compliance requirements You don't want to be distracted by compliance issues once you're in business. List everything you need to sort out now, from health and safety issues to permits and consents required from Federal, State, or local authorities. If you're starting a business from home, do you need permission? Will your business involve hazardous activities, noise, or toxic chemicals? If so, what licenses do you need, and what health and safety measures do you need to take? What taxes do you have to pay, and when? What is a sound system for getting this done, so you don't miss any payments or incur penalties? Make a checklist and work systematically through it with help from your advisers. 4. Set up well-built systems Good business is all about substantial systems. To run your business well, you need efficient processes. Time spent setting up simple but effective systems will pay off handsomely. Think about everything from production and work processes to service and billing. With good strategies, you can: Run the business more efficiently and delegate more confidently. Deliver efficient and consistent quality in products, services, and customer delivery. Train new staff more quickly if they have clear operating manuals to follow. Delegate or take time off with more confidence that others can follow operating manuals. Add value to your business in the eyes of a future buyer. Build the foundation you will need to future-proof your business. 5. Develop good credit management You need a fast, efficient, consistent credit management process if you sell on credit. As a new business, you need the money owed to you as soon as possible to pay bills and lower your interest costs. Never let things slide, or some customers will treat you as a source of cheap finance. Key points: Check the credit standing of all new customers, even though you may be eager for their business. Make sure customers understand your terms of trade and sign an agreement with them. Set credit limits and a system to flag orders exceeding the agreed credit limit. Bill promptly and send statements out on time. Follow up on late payers immediately. Late payers must know you're always on their case. In order of effectivity, visit them, call them, or email them. 6. Deploy an exceptional accounting system You need timely information to make the right business decisions. Get help from your accountant to set up an easy-to-operate accounting system. A correctly set up construction accounting system should allow you to: Automatically download and categorize bank statement details, saving time and eliminating manual data entry errors. Generate instant profit and loss, budget, and other financial reports. View a quick dashboard summary of business performance. Bill customers, track payments, and flag overdue payments for your attention. Keep your cash flow position updated so you can update your forecasts. If you choose a cloud solution, you and your accountant get the added benefit of being able to access the information from any internet connection. 7. Identify and monitor your key drivers (KPIs) Some Key Performance Indicators (KPIs), such as gross profit and net profit margins, are common to all businesses. But each company also has KPIs specific to its types, such as production units for a manufacturer, conversion rate of visitors into sales for a retailer, or billable hours per week for a service business like yours. Get help from your financial advisor or accountant to identify the core drivers for your type of business. Then monitor them closely and set improvement goals. Monitoring your KPIs will help you grow your business and show other stakeholders, such as lenders and investors, that you have your finger on the living pulse of your business. 8. Build good relationships with stakeholders In addition to customers, lenders, investors, and suppliers are also important stakeholders in your business. Make a point of developing good relationships with all of them. As well as enhancing your business experience, good relationships will pay off handsomely in tough times. Paying suppliers on time will develop a relationship you can draw on later to negotiate more acceptable payment terms if times get tough. Showing you have good money skills and can forecast cash flow crunches well in advance will build the confidence of your lenders and investors. If necessary, learn what you don't know, such as financial management basics or construction bookkeeping and accounting. Final thoughts Too many construction businesses fail because the owner has not established efficient management systems. This typically happens because the construction company owner is so caught up in the day-to-day operations that the fundamentals of proper business management get forgotten. Often too, it must be said that the owner doesn't like bookkeeping or other administrative tasks, so these get put on the back burner. The whole point about putting in sound systems is that they free you to spend more time working ON your business, not in it. Having weak systems is the road to stress and burnout. On the other hand, solid business systems will enable you to work smarter, not harder.   We help a little or a lot, depending on your needs. I look forward to being able to assist you with any option that best fits your company.  Please feel free to download all the Free Forms and Resources that you find useful for your business.   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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 206-361-3950 or [email protected]  

This Podcast Is Episode Number 492, And It's About The Top Construction Company Marketing Blueprint Construction contractors like you are primarily in the "Hurry Up" and "Wait" zone. Hurry up and answer the call from the customer.  Wait to make the appointment.  Hurry up and get to the job.  Wait for the customer to come home, to be available.  Hurry up and create the proposal.  Wait for a decision.  When the client says "Yes," it is - wait for the Job Deposit. Wait to Start The Job This Hurry Up and Wait for activity makes it hard for the contractor to schedule other jobs. Many contractors only hold a place open for the client once a job deposit has been received.  Unless your construction company has lots of work stacked up, there will be times when there is nothing to do, and that is the best time to think about Strategic Marketing and following the adage: "Dig your well before you are thirsty" You won't build a loyal client base if you can't earn your visitors' trust, which is why companies value social proof highly. Proving your construction business's value online takes a unique skill set, but boosting it during your downtime is a great practice.  While waiting for something to happen, here are a few strategies that can help you generate leads: 1. Build credibility quickly Just started? Why should people hire a new business? Your first challenge is quickly overcoming their doubts by building trust and credibility. Some tips: Promote your skills and experience, plus those of your staff and associates. Join your industry or professional organization and start building a profile. Commission a writer to produce articles using your ideas. Feature customer feedback and projects completed on your website. Gain a market foothold by offering a service or product at less than full price in return for an endorsement you can use. (Regard this as an advertising expense.)   2. Focus on solving pain points Identify and then focus sharply on solving the customer's challenge, whether it is a problem, a desire, or a fear. Be specific and monetize your solution if possible. Try building a story around your service that the customer can relate to. For example, how much does double glazing save an average house in heating costs? Wrap the story of the saving around other payoffs, like a more comfortable and healthy living experience – warmer in winter, cooler in summer. Service businesses often have a reputation for being late. If you offer services, can you guarantee to arrive on time? Look for the 'hidden' pain points in your industry. 3. Promote your point of difference Boil down your client solutions into a compelling point of difference that will overcome customer hesitation. Refine this competitive advantage into a memorable slogan or a few short sentences at most. Run the result past your advisers and some small business owners. Once they approve, vigorously promote your point of difference on your website and in all your marketing material. Make sure staff can also confidently communicate it to customers. 4. Develop a strong website A website can be a powerful marketing tool. Some priorities: Make sure customers can find you. Get expert advice to improve your search engine ranking. Make the website fast and user-friendly. Get outsiders to test the site without prompting and fix what frustrates or baffles them. Include credibility-enhancing Frequently Asked Questions, Customer feedback, or Projects Completed sections. People often browse a website to build their confidence in your business before they buy. Include social media buttons to help readers spread the word. Encourage people to sign up for a newsletter in return for a discount or other incentives. Give people a reason to return by featuring hot deals and new information on the home page. 5. Use low-cost promotions first Try the low-cost tactics first. Direct mail and telemarketing can still be cost-effective for higher-priced services or products. Small-scale runs can give you an indication of demand and allow you to experiment with different options. Blogs and profiles on social media such as business-focused LinkedIn or people-focused Facebook and Twitter are valuable ways to develop conversations with customers or potential customers. If you are new to social media, research online etiquette first. 6. Start with a splash If you just started, can you come up with some newsworthy event or gimmick to launch your business with a splash? Study how other companies launch. Can you do better? If you can't afford to hire a PR firm, ask a retired journalist with media contacts to help you put together some press releases. The media are always hungry for good stories. Some innovative thinking can lead to free publicity in the local media. 7. Build a client database A good client database is worth gold. It is easier and cheaper to sell more to existing customers than it is to find new customers. Start capturing customer information (with their permission) from day one and decide what details you need to include to help you build repeat business. For example, you can record what customers hired you for, how much they spend, and when their purchases of services are likely to need renewal. Your database will help you build a complete profile of your customer types, so you can focus on finding more people like your best clients. 8. Network vigorously Business is all about people. The more people you know, the better, so try to get out there and meet others in the community. Join your industry or professional association and local organization such as small business networks, the chamber of commerce, and community groups. We are highly recommended by locals here. 9. Focus on referrals Word-of-mouth referrals are the most cost-effective way of gaining new customers because you don't have to spend anything on advertising or marketing. Research has repeatedly shown that referrals have a higher conversion rate (inquiries to sales) and spend more than other customers. People have more confidence in a business recommended by friends or colleagues. Referrals will happen naturally if you provide excellent service and good value, but you can improve your referral rate through an active program of incentives. 10. Measure to improve Give preference to marketing you can measure to avoid the mistake of many businesses who don't measure marketing results. You may be talked into some radio or newspaper ads, but if you don't measure what happens, you'll never know if your investment was wise or a waste. Measuring can be anything from adding a clip-out coupon or code to asking customers, 'By the way, how did you find out about us?' The results may surprise you but will also empower you to focus your marketing budget on what works. Final thoughts Focus on building and nurturing your construction business and personal relationships online, especially when you're in the "Hurry up" and "Wait" period. There are many things beyond our control, but Marketing your construction business, is one of the things we can take advantage of right now. 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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 491, And It's About What Sets Your Construction Company Apart Let me start by saying it's good if you have competition. Indeed, competition pushes you to be innovative. It also means there's an established community for your services. If no one else is offering the service, there's a chance there's no market for it.   But, have you always wondered how a small construction company like yours could stand out from the crowd and its competitors? Awareness of what others in your industry have developed and provided leads to a newfound motivation and belief in making an impactful difference, whether within your company or your community.     The key to benefitting from the competition is knowing how to take on competitors. You measure your share in the particular segment you operate in and obsess about your immediate competition, just as contractors who did not market effectively did years ago.   But first, you need to step back and ask yourself these three key questions and make sure you answer them in a way that will define and liberate your construction company at the same time. Ask Yourself: What am I offering? New construction, remodeling, or service and repair? Who is my competition? DIY, other contractors, money homeowners for a construction project? What is my fundamental competency - Residential, Commercial, or both? Challenging yourself is the key to answering these questions. Write your answers on paper or computer, sleep on them and then revisit them again and again until you get to the truth. Define The Type Of Contracting You Offer And Who Is Your Competition Be that homeowner doing a weekend project, Handyman Contractors, Remodel Contractors, Trade Contractors, and other contractors and House Builders. It may not be the same form, structure, and category that you operate. For example, Home Depot does not see itself competing in the building supply business but for a share of the home and commercial remodel and repair market. This approach and behavior across the organization, too, saw themselves as fighting for a share of the building supply market. Getting The Leads And Doing The Work Is Only Part Of The Answer Not answering them and acting on the knowledge is one reason many construction companies shrivel and die. They focus on the wrong areas to innovate or improve. They focus on the wrong enemy and threat. As a result, they miss what they could be doing to succeed and prosper over time. Here are three ways your small construction company can establish itself from competitors and stand out from the crowd: 1. Concentrate, then generate. What separates wealthy contractors from poor contractors? They concentrate then generate. Returning to the critical questions at the start, successful contractors know what type of contracting they are good at. SWOT Analysis is one tool used in strategic planning for construction companies to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in determining the particular target market. Concentrate Strengths - are projects that your construction company does exceptionally well and earns a higher than average gross margin that gives you an advantage over other contractors. What are they, and how can your construction contracting company expand on them? Weaknesses - are projects your construction company does poorly at and breaks even or loses money. What are they, and how can your construction contracting company turn them into strengths? Opportunities - are projects and markets not currently being served where your construction company can enter and turn them into strengths. Have you considered tapping into the "work-from-home" market during this time? Or commercial establishments looking to remodel to implement a better floor plan? Threats - are elements outside your construction company that could cause trouble for you or your construction projects. What are they, and how can your construction contracting company turn them into opportunities? A SWOT analysis will help you identify each of these characteristics for your business to understand better what you're doing well, what you could improve, and which external factors could affect your business. Generate Marketing is a science, not an art. Now that you've analyzed your SWOT, you laid the foundation by having a vision for what your Construction Company will be when you finish building it, you know who you are, and you know who your prime client is. You can quickly generate more leads than you can handle. 2. Give the client what they want and deliver an excellent service. There's room enough in most industries for competition. While it's a good idea to know who you're against, your clients are your priority. Focus your efforts on providing goods and services meaningful to them, addressing their pain points, and improving their lives. Market yourself to make those aspects clear. Show them why you're the ideal company to hire for their project.   Large businesses have weaknesses. The bigger they are, the less personalized and responsive their service is. They market themselves to a broader audience and have to bring in more clients to cover their costs because their overhead is higher.  In this respect, your size is an advantage. Fewer customers mean more personal service. That opportunity for relationship building will entice customers looking for extra attention.   Examine what people love about your competitors but also what frustrates them. Build your construction business to address those gaps. If you find that something isn't working with your customers early on, don't be afraid to shift. Be innovative in responding to market changes and client demands. You'll have an easier time making that change early than once you're more fully established.  3. Put together a stellar team. It is one thing to be a carpenter, plumber, electrician, framer, drywaller, painter, or any other master crafts person and quite another thing to own a construction company that performs those things while managing a business. Many small contractors have friends in the same trade and work well. Remember that being on your own is okay because employees are not required to succeed in this industry. You could also work well with a group of Trade Contractors and complete the work seamlessly as a team effort. On the other hand, you could be a one-person remodeler who may have unknowingly built a team by working with highly-skilled professionals. For instance, the person who did your company logo or the banker who helped you set up a business bank account—outsourcing a specialist to help you with the things you are not an expert on - like a Website/Social Media Manager to take care of your online presence does wonder for your Marketing without needing to hire in-house staff and do their payroll. Of course, a financial advisor or a construction accountant who has been where you want to go and can guide you will benefit your construction business. Optimize your time and skills by doing what you love and do best, and outsource the rest to operate better and grow your construction company. Final thoughts We are big fans of optimizing instead of maximizing. We've developed strategies that take the least amount of effort in the least amount of time possible. By taking advantage of existing knowledge from your competitors, you can improve and build upon these as they are relevant for you and your type of construction business. Knowing that you're different from what's already out there and why you are different makes you attractive to your target market. Be the contractor who will do whatever it takes to rise above owning a job and develop a construction business that will provide for themselves and their families for a lifetime. 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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 490, And It's About How To Raise Your Prices: Value Over Price As prices continue to rise, you've likely noticed that your cost of doing business has increased as well. After all, the main point of any business is to make money, and you can't do that if you're no longer breaking even.    It's inevitable in every industry – you must raise your prices to continue making a profit. Many factors decide how much to charge, all of which are dynamic. The rising cost of goods, inflation, and a changing market are just a few reasons why any small business has to reevaluate its rates regularly to stay competitive (and to stay in business).   If you're overworked and overbooked, you're undercharging. People know your worth and are fighting for your time. It's time to increase your prices!   Although there's a lot to consider when raising your rates, make a point to reevaluate every six months. Here are some tips on how to increase your prices and how to tell your customers.   Accept that you have to do it   It's a daunting task to consider raising your prices, as the danger of losing customers will be front of mind.   But the bottom line is this: you cannot deliver quality service if you're not charging enough. It's that simple.   If you're spinning your wheels trying to make up for the difference, you'll lose customers anyway. You won't be able to deliver the excellent service you're known for if you're constantly overworked trying to find profits elsewhere.    Raising your prices is part of doing business. It doesn't make good financial sense to swallow the cost to appease your customers. With that in mind, know that you're doing the right thing for yourself and your clients.   Understand what's costing you more   At least once per year, consider what your business costs. Check which products or services are making money and which aren't. Then take it a step further and pinpoint the breakeven position for each area.   You will then be able to decide how much more you need to make to be profitable and comfortable. Evaluate all avenues – supplies, staff wages, bills, rent and utilities, training, etc. Doing this regularly lets you see which areas cost you more over time. Those that cost you more will likely benefit from a price increase.    Decide your approach   A blanket increase would make sense if costs went up across the board. However, if you find that only some of your services now cost more to operate, it might be a good idea to increase only those prices. Your customers will appreciate only the necessary cost increases being passed on.   Gauge the satisfaction level of your current customers   If you know that your clients are happy and believe they're getting excellent service, they will be happy to continue paying for that. They won't bat an eye when you inform them of your increase.   But, if they're not currently satisfied, a price increase will be an excellent excuse for them to leave. This isn't necessarily a bad thing–some of the lost profits from those customers leaving will be made up by the price increase to other customers. And clients that aren't happy could become long-term headaches for your company.   Give a lot of warning   If you offer subscription programs (such as system inspections and routine maintenance for homeowners), email your client base three months before your planned increase to let them know your plans. State the reasons for you're raising your prices now.   Emphasize that this change is necessary to continue delivering the high-quality service they're used to. Giving enough notice to your clients, so they have time to react and prepare shows you respect them.   Send a personal message to long-time clients or ones that hold significant accounts. This shows them that you care about their reaction and gives you a chance to listen to their concerns.   Keep the communication lines clear   Most clients will be OK with your price increase. Some will likely have questions, concerns, or even complaints. Focus on answering their questions.   This isn't a hard sell – it's a discussion. Because you've done your research, your increase is completely justified. As you take the time to chat with your clients, they will come to understand this. Remember, you aren't asking their permission to increase your prices. You're letting them know of the decision to do so.    Communicate your value   Don't be shy about bringing up what you've delivered in the past. By reminding them of the great service you've provided already, they're likely to come around.   It's a great idea to provide options if they're still hesitant, but don't give away more than you can. For example, you could offer to keep their prices the same but trim the services included for that price. You can find a middle ground that works for both of you – alleviating their cost and your workload.   Final thoughts   Once you've researched and informed everyone, go ahead confidently with your price increase. You'll find that you can keep your customer base while keeping up with the increased cost of doing business. By doing so, you'll be able to continue providing your clients with excellent service.   If you're already in regular contact with your clients, the conversation around rising prices will be much less awkward. Remember, the price is how much your clients are paying for your service, but the value has no monetary measurement; it's what the consumer believes your services are worth, and you are worth it. Contractors like you deserve to be wealthy because you bring value to other people's lives. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 489, And It's About Construction Company Employee Compensation And A Note On Taxes There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have implications for your construction business and employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses.    When paying employees, laws and the IRS have made the payroll function a time-consuming nightmare for the small business owner.   Small business owners spend an average of eight hours monthly performing payroll functions. That's 12 full business days a year that could be spent generating sales, prospecting for new business opportunities, improving products or services, or servicing customers.   How you pay your construction employees will impact your finances and your reporting requirements. Read on to learn the differences between the main ways of earning money in the workplace. Wages Most entry-level positions offer an hourly wage in exchange for work. An hourly wage might be $20. So if the employee works 8 hours that day, they would be compensated $160 for that day. The minimums set by law vary depending on where the business operates. Typically, the minimum wage is directly related to the cost of living in that area.  Generally, a set number of hours can be worked in a week, and working beyond that maximum entitles the employee to a higher pay rate. There may be premiums associated with working undesirable shifts or an even higher pay rate that employees are entitled to for working on holidays. Because of the number of hours worked, the specific days worked, and overtime, the amount an employee will potentially earn each year can vary widely when paid with hourly wages. Salary A salary is the standard compensation for management and upper-level positions. It is an agreed-upon annual total, where a certain number of hours worked per week is expected – typically 35 to 40. Other requirements will be outlined, such as how many days per week are expected. Depending on the schedule, the total salary is divided into equal payments for each pay period. Often, compensation is agreed to as an annual figure, with each paycheck equally divided by the number of payments. If you pay an employee a salary of $60,000 yearly once a month over 12 months, you will pay $5,000 each, not accounting for any deductions. How a company manages its payment schedule will vary from company to company. Other pay, such as overtime, commissions, or bonuses, are separate from salary. Many companies don't offer overtime pay for extra hours worked, but they may offer commissions or bonuses for performance. Commission This is a form of compensation that is based on performance. The amount an employee receives can vary drastically, depending on how well they perform in a pay period. The commission is typically a calculated percentage of goods or services sold. It is meant as an incentive to drive employees to make sales. For example, you may offer to pay $100 as a commission for each deal closed. An employee selling ten service subscriptions in the pay period would receive a $1,000 commission.  All earnings made by commission are counted as taxable income. Some salaried or hourly positions offer a commission on top of regular earnings. However, some positions, especially those in sales, can be based solely upon commission. This means that employees don't get paid if they don't sell anything. Bonuses A bonus is a compensation type that is not guaranteed. It is usually tied to some company goal, driven by sales or performance. A bonus might be awarded individually or to a team or other work group. The idea behind a bonus is to create an incentive to meet a specific goal. It is rewarded when the goal has been reached or evaluated at particular times. Bonuses are offered on top of a wage, salary, or commission.  Because of the unofficial structure, bonuses are loved by some and loathed by others. It can be motivating to receive a bonus, as it's completely separate from what an employee already earns. However, it can also leave employees feeling disgruntled if they feel they weren't supported well enough to reach the goal and missed out on the bonus. If the goals are unrealistic, employees may also struggle with motivation even if they are offered a bonus.  Some construction company owners usually decide by the end of the year if their employees deserve a Holiday or Year-End Bonus.  The key questions to ask yourself: Can I afford to give a bonus? Can I afford to provide a reward for my employees? Do I want to give a bonus to each of my employees? How do I decide how much Bonus I should give? Reality Check: Is bonus taxable? Starting with the last question: In most cases, it may be taxable. All income is subject to State, Federal Payroll Taxes and is part of the employee's W-2. All forms of income, including bonuses, are income to your employee.  The most common is to give your employee a set amount known as a 'Net Check". It would not seem the same to say, "here is your bonus for $200.00," but the actual check received is $169.04. Your employee will think you are tacky and cheap, and you can afford to give them a Big Bonus.  Instead, you give the employee a check for $200.00, and the company pays all the payroll taxes. The bonus value is much higher when a check is grossed up (meaning you, the employer, pay all the taxes, company half, employee half of Social Security, Medicare, Federal Withholding, State, and Local Taxes). Final Thoughts We know that when it comes to compensation and payroll service, no one size fits all. Whatever payment structure your construction company follows, ensure you are consistent and fair as an employer and obey all applicable laws. We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best - running your company. As we have been where you are now, we know that as construction business owners, you are selling your time first and your skill second. Your time as the contractor is the most valuable, so I hope you are doing tasks that only you can do. Contact us to learn more about different forms of compensation and what they mean for your bottom line. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 488, And It's About Ways To Get Rid Of Construction Accounting And Bookkeeping Confusions Doing something different is hard. Do you feel like everyone else is the most brilliant person in the room, and you just don't get it? Getting into a rut and repeatedly doing the same things is easy.   If those things work, then yes, continue to do them repeatedly. The problem is when something is not working, and you continue down the same path expecting a different result. The opposite of too much change can create another form of chaos. How do you know what is broken if you change a zillion things all at once?   Looking for ways to make your job easier is the goal of all construction contractors. The last thing you want to hear from your staff or a trade contractor is, "Do you want me to do that over?" Your answer is "No!" (thundered, with many extra words). What you expected was that your staff did it correctly the first time.   In accounting, the first piece of the confusion comes from Construction Accounting Vs. Regular Accounting. Not everyone knows what construction accounting is, and easy to assume all accounting is the same. Why is there confusion? From a tax standpoint, most construction projects are all lumped together, and after the Cost of Good Sold, Expenses, and Depreciation, you either made money or didn't. The Tax Accountant rolls up the numbers to compete for the annual tax return. Therefore, if the information is not needed to be broken down for taxes, then the Tax Accountant is not concerned. As the Construction Contractor paying the bills, you are constantly concerned about which jobs are "Making Money or Losing Money." "Why does it seem like I am watching the money fly by and zooming out of my checking account? It never seems like there is any money left over!" Second, confusion always comes about the material. A construction contractor may purchase material and resell it to their customer. Thereby thinking it is a reimbursable expense. (You lose money when doing this).  Remember all invoices to the Customer (Retail, General Contractor, Spec Builder, Developer) are income. Every line item on a customer invoice is All INCOME. If the words are on the invoice, then the invoice is either taxable or non-taxable based on other factors. Washington State, for instance, has a clear explanation.  Purchases for the material are Cost of Goods Sold or are expenses if you are short-cutting your accounting. I have seen financial statements that are backed out because they will reflect reimbursable income as a negative number and thereby show it as a deduction. (The net effect is double dipping on the expense side) The cause is the accounting software not correctly set up.  New Construction Home Building is another area of confusion. In the mind of many construction contractors, a Spec home is any new house being built for resale. That is true; it is a New Construction House. It is a Spec Home for the Owner and Developer (who might be the General Contractor running the job). The question is on the construction accounting side.  The question to be answered is "Who owns the house?" - It is a Spec House in the accounting system for the owner. For the General Contractor who is building a New Construction Home for a Developer, it is NOT a Spec Home. Why might it seem the same as both are New Construction Houses?    If the General Contractor Does Not Own the house, then from an accounting side for that specific General Contractor, the house is a Custom Home with an owner who is not The General Contractor.  Recognize expenses when the house sells. If the General Contractor, Developer Owns the new House being built, then it is a Spec House in the Accounting System. All costs roll up into WIP (Work-In-Process) and convert to COGS when the house is sold, not before. Otherwise, expenses one year; sales the next equals taxes.   In Washington State:  All Construction Contractors working for a Spec Builder must collect sales tax on all services (labor and material) when billed from the General and Trade Construction Contractors. All Construction Contractors working on Custom homes, Residential or Commercial Projects, Large or Small Remodels, and Handyman Projects can accept reseller permits from the General Contractor. Sales Tax is billed and collected from the Owner by the General Contractor.  Contractors must collect sales tax on all retail projects, including Labor, Materials, Other. Sales tax must be collected on every line item. Customer Discounts can be given for any reason. Fix the giant boulders one at a time. Get that one thing working, then move on to the next one. What is the most annoying thing you can quickly fix? We talk about accounting because that is our primary focus. Start with the basics: Open a business checking account. Use a dedicated credit card for the business (if using a personal card). Create invoices, present them to your customer, collect the money and get it in the bank (Do you have an easy way for your clients to pay you?). Collect the money ASAP because, without cash flow, you are out of business. No - the company with the most Accounts Receivable or Accounts Payable does not win a prize. Accounts Receivable means your customers owe you money. Accounts Payable means you owe money to your suppliers. Net Profit is the money left over. You want lots of Net Profit! You are not a banker! Stop borrowing money using your credit cards, Loans, and Lines of Credit, then finance customers' projects at 0% interest. Final thoughts Money makes the business world go round. Unless you provide a service that others are willing to pay for, you will not collect money to use for goods and services you want. It costs you money when you have uncollected Accounts Receivable. A grocery store will not let you run a tab or give them an IOU for milk. Fast Easy Accounting does the bookkeeping, accounting, and payroll and offers business coaching for small, brand-new Construction Contractors, General Contractors, Trade Contractors, and Handymen across the USA, including Alaska and Hawaii. Do the parts only you can do; leave the rest to us.  You are never too small for us to help, and we can help to begin with your first day in business. We are looking forward to being of assistance. Schedule your free consultation here. 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 managing the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 487, And It's About Five Effective Ways To Retain Employees And Keep Your Company Healthy Traditionally, employers have relied on giving employees raises to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer regarding increasing salaries and wages.   Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train new staff. Beyond that, satisfied employees who feel valued are more motivated and productive.   Here are some ways to keep your employees happy that don't rely on higher salaries.   1. Pay for professional development Good employees want to improve their skills and grow professionally. Often, other priorities get in the way of upgrading skills. Paying for professional development, for example, by having a fund people can access or by bringing in experts to run workshops, shows your staff you care enough to invest in them. Meanwhile, your construction business benefits by having staff trained on the newest procedures and technologies. An employee's development plan is an action plan that focuses on helping staff improve their knowledge, capabilities, and skills in areas related to your business. Creating such plans shows your staff you're invested in their future, which increases employee satisfaction. It helps them understand their role and gives them a framework for expanding their talents. It enables you to develop your staff, promoting from within and encouraging your employees to grow with your construction company. 2. Encourage work-life balance Employees want a fulfilling life, but finding a balance between work and home isn't easy. Having an employer that encourages a work-life balance makes it more accessible. Avoid messaging (texting, phoning, or emailing) employees after work hours and clarify that people should enjoy their personal time. Encourage employees to take their sick leave and use their vacation days. Be a role model by striving for work-life balance yourself. 3. Be transparent Being open and honest with your workers fosters a sense of trust and belonging among your staff. Have regular meetings where you discuss your organization's goals, strengths, and challenges and receive input and feedback from your team. This encourages engagement and shows your workers that their perspective is valuable. 4. Having a set of values that applies to your staff Sometimes organizations create noble values that they apply to their customers but don't apply to their workers. Employees see clients and customers being treated well but then wonder why those values don't apply to them. Create a set of values that applies to your staff. Set out how you want your team to feel. Do you want them to feel valued? Supported? What does that look like in your organization? 5. Ask your staff what they need It's challenging to come up with solutions that everyone will find meaningful. Ask your staff what would be valuable to them–and what would make them happy enough to stay. For example, they may be pleased with additional vacation days or more banked sick time. Listen to their suggestions and consider whether any options they mention could work for your organization. Final thoughts Nobody likes to feel like a cog in the machine. Anything could be going on behind closed doors. There are, of course, expectations to meet in every job. However, employers would do well to remember that everyone working for them has an entire life outside the company. A construction company that supports and shows compassion to its contractors is likelier to keep the good ones from burning out. While increasing salary is one thing you can do to keep your employees happy, there are other things they may value that you can offer. Employee development plans are a great way to invest in your employees, keep them motivated, and help them acquire new skills that will help them in their careers. It also enables you to promote from within your construction company, saving you time and money in the long run.  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 managing the remaining cash flow to operate and grow their construction company sales and profits to put more money in the bank. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 486, And It's About Are You Charging Enough? Why You Should Raise Your Prices There comes a time for every small business to raise its prices. While it may seem scary, remember that it's your job to keep costs fair for you and your customers. That means you have to charge prices that work for you and allow you to remain in business.  Am I Not Charging Enough? Knowledge leads to profits and cash flow. What makes knowledge powerful? Use of knowledge. In this cutthroat construction industry, you may not be able to outgrow your competition forever, but you can always outlearn them. Knowing The 80/20 Rule For Construction Contractors will surely help: 20% of your customers typically generate 80% of your net profit  20% of the goods or services you sell contribute 80% of your revenue 20% or 2 out of 10 of your staff create 80% of the value for your customers The frightening consequence of the 80/20 rule is that 8 out of 10 hours we spend at work drive almost no value to the bottom line, and the most significant drain is trying to save money doing our contractor bookkeeping instead of reviewing the Key Performance Indicator (KPI) Reports.  The essential value good bookkeeping brings to a business is an understanding of where your 20% is hidden.  By generating daily reports that uncover the best clients, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work. You could be asking the same question and still looking for reasons why you should raise your prices: 1. Your costs have grown The thing about inflation is that everyone will feel the pinch – including you. If your construction business supplies are now more costly, you must pass those costs on. Otherwise, you're losing money, and your business will be on the hook.  Nobody likes raising prices on their customers, but it's a necessity. You have to be able to cover your costs and continue supplying your customers with what they expect. 2. You're too busy If you find that you're consistently booked 10-14 days out, it's a sign that you're delivering good value for money. People know your worth and are fighting for your time. That's great! But it also means that your service-based business has evolved. This tells you that your customers are satisfied. And if they're happy, they'll likely spend more on your services. You may lose some clients in the process, and that's okay. You're now attracting higher-quality clients who know your value and are glad to pay more. Beware of getting carried away, however. If you raise your prices by too much too fast, without adding any value, you'll find yourself in trouble. As your skills improve, you'll automatically provide more value for money. This is when raising your prices is justified and will be met with acceptance. 3. Enough time has passed Even without adding more value or skills, raising your prices is okay. It's recommended. A good general rule of thumb is to increase your costs by 5-10% every year and a half or so. This may sound like a lot, but consider that the average inflation rate falls within this bracket. If you don't raise your rates and the cost of your supplies hasn't gone down, you're losing money. 4. Your competitors are doing it Yes, it feels great to offer your customers a fantastic deal. But don't be the one left with rock bottom prices when your peers have all raised theirs. This translates into you working harder to earn the same amount of money. Be aware of what's going on in your industry and adjust. Customers judge a business based on perceived value. If you're at the bottom of the pack price-wise, they're likely to skip over you to get a good deal. Price yourself accordingly to attract quality clients. 5. You've become more valuable You gain more skills, experience, and knowledge as you work in your field. This translates to more value. If your business is better than it was a year ago, it's time to charge accordingly. Don't undervalue yourself. Customers often understand that you're more skillful and are glad to pay for your extra expertise. 6. You're trying to rebrand or reposition your service There may come a time when you want to attract more high-quality, higher-paying clients. This rebranding is meant to raise the perceived value and the prices along with it. One of the most prominent examples where you see this is in the restaurant industry. As a place becomes more sought after, you'll notice that they change the menu to make the descriptions more detailed. Maybe a popular item will change its name to make it sound fancier. But one thing's certain – the price tag will have gone up. Final thoughts There are many reasons why raising your prices is a good idea. It's just good business sense. Likely you're experiencing a combination of the reasons listed above. Whatever the case, ensure you do your research and review your prices often to make sure you position your business correctly. As contractors like you move away from gut-level decisions and begin relying on their construction accounting systems to provide valuable financial and job costing reports, it's time you open a treasure chest busting at the seams with helpful information which can lead you to earn massive profits and by extension increase your wealth exponentially. Now, the power lies within you and what you can do with your knowledge.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 485, And It's About Six Tips To Respond Effectively To Construction Client Complaints Complaints are an unfortunate part of running a business, but they happen. No matter how hard you work to please your clients, eventually, someone will have something negative to say. However, with the right approach, you can turn complaints into a valuable tool to strengthen your business.   When reviews are great, that's a fantastic thing. But unfortunately, when you get negative ones, you have to adjust. You can't please all customers all the time.   Here are six tips for effectively responding to complaints: 1. Remember that this is not an argument The reason that a client complains is a disappointment. It's a symptom of a need that wasn't met. They are not looking to fight with you. Taking the time to complain signals that they wish to continue the relationship. Don't muck it up by getting into a defensive, back-and-forth argument. Nobody wins in that scenario. Your client is allowing you to continue working together. It's tough to keep calm when someone comes in hot with a complaint but remember: feedback is a gift. It just may not feel like it at the moment. 2. Listen The key here is to put explanations aside. Listen until the client has said everything on their mind. Don't start thinking of how to respond while they are still speaking – they'll see your eyes glaze over the moment you do, and that will make matters worse. If it's a written complaint, read it over a few times to make sure you're not inserting a tone or accusation that may not be there. You want and need to understand the complaint. Without this information, you can't move forward in any meaningful way. The moment for explanations and solutions will come. Take this time to really set everything else aside and just listen. 3. Repeat what you heard It's essential to give the information back to the customer to ensure you're on the same page. Make sure you understand the complaint by saying it in your own words. A lot can get lost in translation, so let them know that you hear them. This lets both of you know that you hear and understand the problem. Once they acknowledge that you've got it right, you'll be able to get to a solution. 4. Acknowledge Forget for a moment that you're defending your construction business. Try to imagine how it would feel to be the one making the complaint. You should be able to identify what need wasn't met or how you disappointed them. When you put yourself in their shoes, it becomes clear what solution you expect. You will also be able to see where you fell short and how you can avoid doing that to others in the future. 5. Offer a solution After the work you've done to understand the problem, finding a solution will be the easiest. You know what you'd expect as a customer and what you can offer as a business. This information will create a solution that makes both parties feel good. Let them know sincerely that you want to make it right. After all, this is your business, and reviews spread faster and further when they're negative. But, when a company goes out of its way to fix a problem, people enthusiastically let others know about it.  6. Follow up This may be the most critical step and is also often overlooked. After some time, follow up personally. This shows your client that you care about the outcome and want to ensure they're doing well with the solution. They will remember the time and attention you put into ensuring they were satisfied. They will also likely come back with more business and refer you to others. It doesn't take long, but the effort goes a long way. Likewise, if you receive a bad online review, don't panic. A bad review or two isn't likely to ruin your reputation. On the contrary, a few negative reviews can help you gain trust with potential clients. In addition, you can use the situation to build confidence in your business by being responsive, transparent, and honest. Many prospective clients will look past a few negative reviews if you have more favorable ones. So ensure you consistently provide quality services and encourage happy clients to post a good business reviews. If possible, ensure your responses include: An apology. A statement about your commitment to your clients. A way to continue the conversation offline if further communication is needed. Doing so will show potential customers and clients that you care about their feedback and are willing to take responsibility, but it also allows you to move the conversation to a more private forum if the reviewer isn't happy with your response.  Final thoughts Nobody likes to see a complaint come in at their business. We all work so hard to make sure we're providing a valuable service that is truly helpful, and knowing that we let someone down can be challenging. However, take it as an opportunity to become even better, and you'll find that your construction business continues to grow. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 484, And It's About Power Up Your Construction Company Payroll Processes Payroll is one of those things that starts quite simple. You build your construction business, hire a few employees, and things tick along pretty well. It’s straightforward enough to keep everything in line at first, but what happens to most companies is that they grow!   However, having an employee is different than when it’s just you meeting the client, doing the work, and collecting the money. The dynamics change when you hire that outside person. You need to be even more cautious when considering hiring a friend or family member instead of a stranger because success has a thousand fathers while failure is an orphan! Success or failure could mean choosing between peace and harmony in your personal relationships or giving away a portion of your hard-earned fruit.   Paying must run smoothly as an essential aspect of your construction business. This is a great thing, but it also means that payroll becomes more complicated. Getting paid is, after all, the primary reason that most people come to work. Here are some tips for managing payroll effectively: 1. Simplify Payroll is one of those things that can be overly complex, and the importance of simplifying it can’t be overstated. Many small and medium-sized companies have quirks about managing their payroll. This can make it difficult for somebody else to step in or train someone new. Keep things as simple as possible wherever you can. One way to do this is by switching to direct deposit. This will drastically reduce the work put into issuing and tracking payments. 2. Schedule At least once per year, and preferably more, your payroll professional must take some time to create a payroll calendar. This will allow them to highlight any dates that may cause a lag in your employees getting paid. It will also allow you to plan for any potential shortcomings or issues arising from holiday closures or oddities in the calendar. Making a payroll mistake is a surefire way to lower employee morale, so it’s essential to be aware of these dates ahead of time. Once compiled, distribute the calendar to your managers to communicate the information to their employees. This will keep everyone apprised of any potential delays in getting paid that may come up. 3. Automate The computer can be your best friend. Finding the right software to help with payroll can automatically take care of simplifying and scheduling, freeing up valuable time for your payroll specialist. It also eliminates the potential for human error in payroll processing and creates a crystal clear picture of your finances. Many options available these days are easy to learn and straightforward to maintain. 4. Brush up Payroll rules and regulations can change frequently and for any number of reasons. It’s important to stay informed on any changes in your region and proactively plan for them. Much time can go into correcting a payroll error, so know what’s happening ahead of time to avoid this. With more and more employees being hired remotely, it’s also essential to understand any regulations that may pertain to those geographically located in a different area from your construction business. 5. Get help There comes the point for all growing businesses where they have to outsource their payroll processing; if this is you, congratulations! It is truly a milestone. There are many options out there as far as hiring a payroll specialist is concerned, and many of them are available online. Choose the one best suited for you without leaving your desk. This takes the pressure off of you to know all the nitty gritty details about payroll processing. By hiring an outside professional, you can be sure that your employees will be paid correctly and on time. Everything runs smoothly during your regular pay schedule when timecards arrive on schedule. When employees do not turn in their timecards on schedule and expect you to have their checks ready, no worries, we have you covered: Process payroll outside your regular pay schedule fast and easy Track and allocate garnishments Track and report on employee loans Track and report on employee reimbursements Everything for one flat fee and no long-term contract  Final thoughts Payroll is most effectively managed when it’s simple, straightforward, and coordinated. Prospective applicants must complete a formal employment application and the hiring process before working on the job. When it starts getting tough to keep it that way, it’s likely a sign that your company has grown and you’re ready for more robust support. You went into the construction business for various reasons; in most cases, Calculating and Processing Payroll is not one of them. Stop the insanity and let me know how I can help you today.

This Podcast Is Episode Number 483, And It's About The Value Of Client Happiness And Ways To Keep Your Construction Clients Happy   Construction business owners know that to find a loyal client base, they must stand out from their competitors. One of the best and easiest ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business. People think positively about companies that treat their customers and clients well.    Unfortunately, many small construction business owners focus much on their products and services, with customer service remaining an afterthought.    Take time to learn more about your customers.   Do they mention family members? Ask about their loved ones. Do they have particular concerns? For instance - too many cable cords around the house, and they have small children. Keep track of their issues and be attentive to their needs. Recommend solutions that address their specific problems. Go the extra mile to show your customers they're important to you.  Ask for their input, as well. They'll get to know your products and services and offer insights into what's working and what could be improved. If you engage them--and make changes based on their feedback--you'll develop a loyal customer base. Happier, high-profit clients are encouraged to return because they'll appreciate your thoughtfulness and value your service. The more special your clients feel, the more likely they will hire you again.  The Value of Happy Clients Happy Clients Are Returning Clients Returning clients are fantastic for business. It's less expensive to bring back a happy customer than to attract a new person to your business, and existing customers are more likely to purchase or do business with you than new ones. Some reports suggest loyal clients can be worth as much as ten times their initial investment. So by keeping your existing customers satisfied, you not only save on marketing costs, you increase your chances of making money in the future. Excellent customer service makes your customers feel important. You can have a fantastic product or service, which will go a long way to building your business, but your customers will also remember how you treat them. If you treat them well, they're more likely to be satisfied with their experience, which will keep them coming back. Even better, exceptional customer service can smooth things over and convince them to continue doing business with you if someone has an issue with your product or service.  Happy Clients Tell Their Friends It's not just that a happy customer returns; your happy client will tell their friends, and their friends could also become satisfied customers loyal to your business. They, in turn, will say to their friends about you. The pattern will repeat itself over and over. Marketing costs money. Word-of-mouth is free, and it's far more valuable than advertising. People trust their friends when they recommend a product or service much more than they believe in an advertisement. Offering exceptional customer service is one way to build loyal customers who will tell their friends and colleagues about you.  Happy Clients Write Positive Reviews Happy clients don't just tell their friends how happy they are; they say it to the world through online reviews. Whether posting a review on Yelp or Google, thanking you on your Facebook or Instagram page, or gushing about your fantastic customer service on Twitter, customers can reach their friends and friends of their friends and, in some cases, strangers. If they talk publicly about how happy they are with how you treated them, others will see that and come to your business.  Final thoughts Asking questions is vital to get important information from buyers by helping you understand their needs, priorities, and problems. By showing prospective clients you can listen to and understand their needs, you build an essential connection that will help you provide them with solutions. That connection may also be what keeps them coming back to your business.   Encouraging repeat customers makes solid business sense. To be successful, you need a balance of new and long-term clients. This means building relationships with people, personalizing your attention, sharing relevant information, and remembering your loyal customers.  A great product or service at a reasonable price might bring your customers in, but outstanding construction customer service that gives them a positive, memorable experience will keep them returning.  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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 482, And It's About How To Prevent Employee Theft In Your Construction Company Recent employee theft statistics are increasing, and small business owners are more vulnerable to the problem. The most common embezzlement methods include billing fraud, cash on hand, and check tampering. You may not know how employees can steal from you as a construction business owner. Some standard methods include: redirecting company checks to personal accounts and altering entries to cover up the theft undercounting change to customers and keeping the balance seeking reimbursement for non-business related expenses or  pocketing inventory or supplies. Just as you can't be 100% secure all the time, there is no way to eliminate 100% of the embezzlement in your contracting company. However, you can limit your losses and avoid most of them with suitable preventative measures. As a small construction business owner, you may not have the significant security budget of a large company, but you can combat employee theft with these simple strategies: 1. Do your due diligence when hiring. This may be one of the most critical steps to combat employee theft. Screen all potential employees carefully. Look into employment history, call references, and run a credit check. Hire someone else you feel comfortable with. Above all, trust your instincts. If you sense someone might risk your business, don't give them the benefit of the doubt. Construction Bookkeeper Embezzlers come of every race, creed, color, gender, and age. There is no definitive profile or absolute way to know which contractor bookkeeper is an embezzler until they have been caught and convicted. Even then, if you do not perform extensive background checks, you may never know it until it is too late. 2. Identify and eliminate opportunities to steal. Think of any opportunities where staff have unsupervised access to sensitive financial data, cash, or anything of value – then brainstorm how you can minimize the risk. For instance, ensure no employee signs any checks. Restrict access to financial records and change your secure company passwords often. We recommend opening three separate checking accounts - one for your central operating funds, one for payroll with just over enough to clear all outstanding payroll checks, and one for the owner's debit card purchases. 3. Conduct ongoing audits In addition to having an annual third-party audit, it's wise to perform random internal audits every few months to spot fraudulent activity early. Your bookkeeper or accountant can help you maintain accurate numbers and flag transactions that appear suspicious.  If you have a cash drawer, balance it daily like a bank account. Bookkeepers who develop the habit of embezzling usually start with taking small amounts, often from petty cash. Keeping track of small amounts of money can help save considerable amounts from disappearing. 4. Keep a close watch on inventory and supplies. Invest in an automated real-time inventory management system or take time to monitor your office supplies and tools in your trucks. Check your records regularly to catch any discrepancies in your physical inventory and recorded data.  5. Invest in security measures.  It only makes sense that when the staff knows they're being watched, they're less likely to steal from you. Critical areas for video surveillance include storage space for inventory and supplies and offices where financial data is kept. Final thoughts There is a lot of work here, but it could save you thousands, if not hundreds of thousands of dollars. One of the best ways to limit your exposure to bookkeeper embezzlement is to outsource your contractor's bookkeeping services to us because we handle all of the construction bookkeeping services chores and never touch your money. Although it's essential to do everything you can to eliminate opportunities for staff to steal from you, one of the most effective ways to avoid employee theft is to nurture a positive relationship with your team.  It is much harder to steal from people you know. So take the time to interact with your employees, fostering goodwill with the people who work for you. A friendly environment where people care about each other creates an atmosphere where criminal behavior is less likely to occur. One final tip: give your staff a way to safely and anonymously report suspicious employee activity. Your staffs are the eyes and ears of your business, but they may not come forward with incriminating information unless they feel safe doing so.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 481, And It's About Common Construction Contractor Bookkeeping Issues With Accounts Payable Accounts Payable keeps track of the bills owed to a supplier or subcontractor.   A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track unpaid bills. The bank wants to get paid, and unlike the contractor who is embarrassed to call an old customer, the bank is very willing to call early and often for any outstanding payments due. Again, the banker wants to know how long it takes to pay your bills.   Another reason to keep a proper Construction Contractor Bookkeeping System is to be sure you did not overpay a supplier or subcontractor, cell phone, the internet, liability insurance, vehicle insurance, and more.   The bills keep coming depending on your payment schedule; you may receive the past reminder notice before the original invoice arrives. Some utility companies have a history of what appears to be randomly sending the original bill.   When you do not immediately pay the invoice, some insurance companies will mark this as late and subject you to a late charge. Based on where the Out of State payment needs to be mailed to, it may be impossible to send (by regular mail) and be received on time.  Hence – Online Payments are Accepted. The benefit to The Contractor is proof that the payment was made with a time and date stamp (print) and usually an auto-generated email as backup confirmation that the payment was made.  Overpaying subcontractors can quickly happen if checks are written on the job site. When using handwritten checks, use "Carbon-less Checks" to have a written record of payments made. The charges can be added to the Bookkeeping System without waiting to clear. Bookkeeping Issues Sometimes Accounts Payable will have transactions in Accounts Payable that do not belong there. It is easy to put transactions in the Accounts Payable (A/P) Aging Summary and then forget about them. QuickBooks does not automatically look to see if you put something in Accounts Payable when writing a check. Short-cutting and putting in a bill will distort the financial statements and will not have a clear understanding of details. For example, credit card balances or monthly payments. Credit cards like checking and savings accounts must have all their transactions entered and reconciled. Taxes due to the Internal Revenue Service, State, and Local Payroll taxes or Sales tax-related obligations. Employee or owner's child support payments do not belong in Accounts Payable. Payments to and from the company and between owners are Owners Draw, Loan to Members, or Loan To Shareholder, and related transactions do not belong in Accounts Payable because you are not an outside vendor. Do not create a bill for the company to pay. Anytime it is a company expense, the company should pay direct. There is nothing messier than constant reimbursements to the owner by the company. A bill with no detail looks like a bogus payment to the owner trying to make money out of the company that is being masked as an expense. The old saying "Devil In The Details" Transactions in QuickBooks need to be explainable without any need to have a story problem to go with it. The Memo line in QuickBooks is short for a reason – less is better and more transactions are better than fewer transactions. Annual tax returns are many pages giving the detail (which may be stated repeatedly on numerous pages). As with Accounts Receivable, the same type of detail applies to Accounts Payable (A/P) Aging Summary. Are the transactions Current, 1-30, 31-60, 61-90, >90 and Total? Add in the dimension of payment can be done from multiple banks and credit card accounts, and in the case of suppliers, Credit may be applied. Any time there are unpaid balances, the first place to look is, did the amount get paid directly from the checking account? Was the amount slightly different (including a late charge or additional vendor bill not entered into QuickBooks)? Again if transactions are in as Accounts Payable, they should not appear to be overinflated expenses. To be in QuickBooks under Accounts Payable, the transaction is entered as a bill. Any payments paid directly by the checkbook do not automatically know that a bill has been created. Same with any payment made with a credit card; there is no link between the credit card payment and the bill unless QuickBooks is told the bill was paid by credit card.  Negative numbers in the Accounts Payable (A/P) Summary mean that the vendor was paid as a bill without any bill being entered. The Accounts Payable aging report reflects how long it takes you to pay your bills. Unless you have won the lottery (which we all want to do), you must collect before paying your bills. The favorite way for Contractors to pay their bills is to Collect a job deposit, buy a new vehicle, tools, or equipment and then pay any outstanding invoices. When paying Old Bills with New Money (not money collected from the job that the bills were associated with) is "Robbing Peter To Pay Paul" (author unknown). I get it. It is a more natural number to know. How much the customer owes you (especially if the job is Time and Material or Cost Plus) is hard. Not all of the bills may not have arrived from your Vendors or Subcontractors.  Then there is the issue of how you billed. Was it straightforward for the customer to pay you? You may forget or forgive the bill and receive payment from your customer, but it is unrealistic to expect or hope that your Vendors, Suppliers, or Subcontractors will do the same. What is guaranteed is that the Bills will come and continue to occur. Final thoughts Bills, bills, and more bills are set up on auto-pay so they will get their money. The question is, how will you pay the bills? When will you pay the bills? Are you paying with Income from Customers? Credit Cards racking up your debt? The line of Credit which, again, is racking up debt? Personal savings or investments? (borrowing from tomorrow to pay for yesterday) Borrowing on your House? Borrowing from a Pay Day Type of Lender (some take repayment daily automatically from your banking account)? Borrowing from the Government by not filing and paying by the due dates? Keeping up and paying bills is a challenge in the best of times. With proper bookkeeping, you can know: Whom You Owe, When Your Payment Is Due; if you plan, you can pay the balance in full. Moreover, my favorite is not double pay if it can be avoided. It is a big deal to know the rules. Sometimes asking for a payment plan is the only option. If it is necessary, ask nicely, ask politely, ask as long of time pay as possible, for as small of a monthly payment as they will give you. It is better to double up on a low payment (to pay off sooner) than have a large payment that is impossible to pay.  Again, I am here to help you a little or a lot, depending on your construction business needs. Schedule your free consultation here. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 480, And It's About How To Make Xero Accounting Work For Your Construction Business The key to making Xero Accounting Online work is ensuring your account is correctly set up and maintained. Perhaps you own a service and repair firm specializing in plumbing, electrical, HVAC, or maybe a handyman service or someone who does small construction projects that last from a few hours to a few days, and you only need to give your customer or client one invoice?   Suppose you've just started working with Xero; making a few mistakes while learning is expected. We see pretty common errors - and unfortunately costly - so you should be aware of them if you want to get the most out of Xero's powerful cloud accounting system.    Not connecting all the bank and credit card accounts dedicated to your business Make sure that you keep all your construction business bank and credit card accounts synced to Xero to ensure that you don't miss any sales or expenses in your reports. Also, ensure that you separate your business accounts from your personal ones to avoid hassles during tax season. Doing this also helps you make accurate business decisions. Trust us, your accountant and bookkeeper will thank you! Not reconciling the bank account in Xero to bank statements Run a reconciliation report in Xero regularly and then compare it to your bank statements to ensure there aren't any errors or duplications.  Many business owners miss this critical step, which means they look at inaccurate or incomplete data when they check their reports. Not checking user access and permission levels Many business owners give key team members full access to their business' Xero system and don't review the user permissions at all.  However, the best practice is to provide access on an "as needed" basis and review who has access to the system and what permission level they have quarterly.  Also, when your staff members leave, you should revoke their Xero access immediately.  Not setting financial SOPs (Standard Operating Procedures) Create a proper financial SOP that describes who is responsible for what and by when and the step-by-step process of getting things done. For instance, you can assign your operations manager to run the aged receivables report in the system, so you'll know who owes your construction business money. Then, map out a clear action plan of what happens in specific scenarios, such as a payment that's two weeks late. You can also have standard replies that the team can send as needed. Mishandling transactions when you've paid with your personal money Many construction business owners don't know how to handle transactions using their personal accounts when paying for a business expense. There are actually ways to capture such costs paid on the wrong card in Xero so you can still claim the tax deduction. You may need to get in touch with your advisors to make the adjustments accordingly.  Xero Accounting Online saves us time in data entry, which means we can offer contractors bookkeeping services at substantial savings over QuickBooks bookkeeping services and provide more in-depth financial reporting, with some of the reports being updated within seconds of when the transactions are received. Avoid Xero Mistakes By Working With A Specialist Advisor The best way to ensure that you're taking full advantage of all the features in Xero and avoiding costly financial mistakes is to work with an experienced advisor who knows the ins and outs of this cloud accounting system.  We're Xero Certified and would be happy to look at your file to give you some suggestions. The time, effort, and money you've put into running your construction business is a testament to your commitment to this industry. So, let me end this post by telling you to do what you do best and outsource the rest. The "rest," as you know, is where your cash flow and profit depend – construction bookkeeping and accounting. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 479, And It's About Ways Reasons Why Contractor Startups Fail And How To Avoid Them Many surveys and reports show that nearly half of all new construction companies close their doors within the first five years of opening them. When we speak with contractors who failed, most say it was due to a lack of cash flow. It was pretty obvious, yet when questioned, all of them said they were "Blind-Sided" and were not aware they were running out of cash until it was too late.   There is a point when a contracting company starts to fail, and nothing short of a massive cash infusion can stop it, and a domino effect begins, which is when a series of similar or related events occur as a direct and inevitable result of one initial event.   Planning is essential to give your business the best chances for success. Planning means anticipating challenges and developing ways to successfully address them, so they don't upset your startup.    Here are three reasons why contractor startups fail and ways you can avoid them.  Lack of market demand Before spending your time, money, and energy starting a construction business, make sure there's a need for it. You need to have a market to make money. That means there needs to be enough people who need your product or service and are willing to pay money to buy or use it. Without that, you won't be able to cover your costs or earn enough to survive.  Some ways you can identify need: Look for competition. If no one else is offering the service, there's a chance there's no market for it. That might not initially stop you from moving forward, but if no one already offers your product or service—or anything close to it—you'll have to do more to prove there's a market.  Conduct market research. Studies and interviews help determine whether people in your target market agree with you that there is a need for your offering and that they would pay for it.  Lack of expertise Entrepreneurs might be tempted to partner with or hire their friends or family—people they genuinely like and would work well with. That doesn't always translate to success, however. For your business to succeed, you need specific expertise and people whose skills complement yours.  It would be best if you also had people willing to discuss your decisions with you and ensure there's a business case for each decision you make. Someone with a differing perspective provides a vital way to double-check whether your choices are best in the long-term for your business or whether other options are available.  Ensure you hire people with balanced competencies. If your roofing business involves installing solar panels, you might need a technical expert to ensure the technology runs smoothly. You'll likely also need a financial expert to help you with bookkeeping and possibly a manager to oversee employees. Hiring people you like is fine, but make sure your team also has the skills to manage your business successfully.  Lack of finances You need money to produce your services and ensure all employees are paid, including you. It's not enough to know how much money you need month-to-month; you need to forecast your development cycle, how inventory moves through your supply chain and variations in seasonal income.  If your construction business doesn't earn as much in the first few months as you predicted, you'll need to bring in more money quickly to save your business.  Lack of cash holds up material deliveries, which causes labor to be idle and continue costing money, and then payroll checks bounce, and your construction workers take your tools and equipment to the pawn shop to get paid that way, and the contracting company spirals down to its end. One accounting tip that could help your new contracting business is opening three business checking accounts. If you were to ask contractors about the big mistakes they made when they started, they wished they had kept their business and personal expenses completely separate. Not only does it make day-to-day contractor bookkeeping easier, but it also makes monthly, quarterly, and annual tax preparation smoother. Checking Account 01 - Your primary checking account should not have any credit or debit cards attached to it. All money is deposited into this account, and you make transfers into the other two versions as needed. Checking Account 02 - The payroll checking account should have just enough money to cover payroll with perhaps a tiny cushion of $100. You can transfer funds into this account as needed from your primary account without needing paper checks. This limits exposure to payroll fraud, and this account should not have any credit or debit cards attached to it. Checking Account 03 - Petty Cash checking account with $500 +/- this account should have debit cards that work like credit cards attached to it for making small purchases in the field; if you want to provide your foreman and forewomen with a debit card to be used as a credit card you can. You can transfer funds into this account as needed from your primary account without needing paper checks. NEVER give out the PIN. Final thoughts Develop your business plan. Focus on the best areas to innovate or improve. By planning, being strategic with whom you hire, ensuring a market for your offerings, and with construction bookkeeping and accounting done right, you can significantly improve your odds of success. Know that in time your company will become legendary to such a degree that your clients will be raving fans, and referrals will be part of your marketing strategy. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 476, And It's About What Every Contractor Needs To Remember When Negotiating Contracts Several aspects of the construction business can only be learned through experience. One of them is negotiating contracts.   Most people fear the negotiation procedure because it is an intrinsically uncomfortable process. Asking for more money or making personal demands doesn't come naturally to everyone. But with the right toolkit, you can breeze through contract negotiations. And you'd better get used to it because you'll have to handle many contracts whether you're a construction company owner or employee.   Having the right mindset is critical to contract negotiations. You have to believe that you are going to get your way. Bring a positive attitude and a smile to the table. You're not signing contracts with the enemy. The people you're negotiating with will be your business partners in one capacity or another.   We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule, and a proper change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions. Let's take a look at some things you need to remember when you're in the process of negotiating contracts: Be patient Don't rush to get a contract signed. Rushed arrangements usually leave one or both parties dissatisfied. It's understandable if you want to get the negotiation done, but taking the extra time to examine your contract will benefit you tremendously in the long run. Involve an expert You might know what you need from a contract regarding overall business output, but you could get trapped by the legalese. Get a lawyer you trust on board to frame the wording in a way that protects your overall interests. Even if you're good at negotiation, involving an expert is always a good idea. Don't forget term sheets Term sheets are a broad overview of the terms of your contract. Before you get into the specifics, it's a good idea to ensure that all parties agree on the big picture. Take it one step at a time Negotiating a complex and lengthy contract is an inherently tedious process. In the beginning, ensure you've agreed upon the necessary details. Making some headway is crucial to the overall success of the negotiations. After establishing a rapport with the other party, you can dive into the deeper, more complicated issues. Think about the specifics The flowery language on a contract might make for good reading if you're of a particular leaning, but you need to understand what it translates to in the real world. How much will you be making? Use the phone Emails are notoriously difficult to decipher at times. You aren't aware of the sender's body language, and sometimes people can confusingly word things because they don't have the best command of the language. If you're unsure about some issues in your contract, pick up the phone, and have a conversation. It will help sort things out. Don't fret too much about the first draft The first draft of your contract is just a starting point. It's called a 'negotiation' because you will be changing certain aspects of the contract. Don't be alarmed if there are certain things in there which aren't to your liking. If you can't make the tough calls, get someone who will If you're not naturally assertive or find it challenging to be demanding when the situation calls for it, ask for help from someone capable. It could be your business partner or even a spouse. Do your research You don't want to make outlandish demands that the negotiating party can't afford. Take some time and do your research. See what similar services or products cost in the industry. Ask some construction experts for advice. Final thoughts It's worth repeating that you should always take care to state clearly in writing the terms of your quote or estimate and offer a client the opportunity to ask questions before approving the work. That way, both parties can avoid misunderstandings about expectations and project costs before the work begins.  Negotiating a contract is like a long game of chess, except both parties need to come from the table victorious. Before you begin the process, figure out your short- and long-term goals. Having a clear vision will help you better navigate the tricky waters of contract negotiation. While nobody knows your contracting business as well as you do, seeking expert financial advice right away is crucial for your survival. For a free initial assessment of your business, please don't hesitate to contact me. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 477, And It's About Ways To Sustain The Life Line Of Your Construction Company   Cash flow refers to the movement of money into and out of your business. It's based on the amount of money you bring in minus the amount you spend. A positive cash flow means bringing in more than you're spending. A negative cash flow means you aren't bringing in enough to cover your expenses.   Your construction company can run into problems by not charging enough for goods or services, having late-paying clients, growing too quickly, or simply spending too much money.   Solid cash flow management is vital to ensuring your contracting business survives, but not everyone understands what cash flow is or how to manage it. That's likely what makes it a leading cause of stress for small business owners.    Cash flow can vary throughout the year, depending on sales cycles or whether you've made a large purchase.  Here are three strategies you can use to gain control over your cash flow. 1. Understand your profitability Managing your cash flow is excellent, but it won't help if your business isn't profitable. Determine where your business is most beneficial and where you're dealing with cost overruns. Look at your services to determine how much they bring into your business compared to how much you spend to provide them. Find any inefficiencies in your processes and eliminate them if possible. A solid cash flow ensures you offer excellent goods and services and help you achieve your goals while reducing those negatively affecting your finances. You may need to increase your prices to reflect the cost of goods sold. Similarly, take a look at your clients. Are there some that you are undercharging or spending too much time and energy on? Can you increase their fees or find higher-paying clients? (I have recently discussed these points in my Tuesday email. If you don't want to miss out, you can subscribe by filling out the form on the right). 2. Write a cash flow forecast. Your cash flow forecast (a cash flow projection) predicts how your construction business will perform financially over a set period. It's a good idea to have a cash flow forecast for a year, broken down into quarters and months. The projection considers your revenue and expenses over those set periods and helps you figure out how much you need to make in that period to cover your costs. It can also allow you to anticipate any upcoming cash flow issues, such as slower periods that may require you to cut back on expenses. If you have any anticipated big-ticket items you'll need to buy or plans to expand your business, include those in your forecast. Periodically check your actual cash position against your projection to see how you're doing and if you need to make any adjustments. 3. Use technology to keep on track. Plenty of software solutions can help you gain insight into your company's cash flow. They can help you build projections and get a real-time view of how your business is doing. This information can then be shared among company managers, so everyone knows how the company is doing financially and where strategies need to be put in place or altered to get you back on track. Additionally, invoicing and project management software can encourage faster, more manageable client payments and keep projects on budget. This will also improve your cash flow. What we can do: A wise business owner once said, "Happiness is a positive cash flow." As a business owner, I'm sure you agree. Everything is better when your cash-in exceeds your cash-out. A cash crisis can be emotionally devastating and even kill your business. You know what I mean if you've ever had to beg, borrow, and steal to cover tomorrow's payroll. Having a proper cash management system allows you to: Know when, where, and how your cash needs will occur. Know what the best sources are for meeting your additional cash needs. Be prepared to meet these needs when they occur by keeping good relationships with bankers and other creditors. The starting point for avoiding a cash crisis is allowing your accountant to develop a cash flow projection for you. Your construction accountant can help you develop both short-term (weekly, monthly) cash flow projections to help you manage daily cash and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs. Also, well-kept historical cash flow statements help you understand where the money went. Accurate cash flow projection has several benefits and will make many procedures easier for your construction company.  Our services can provide you with: Help in obtaining an appropriate line of credit Cash collection acceleration techniques Proven effective collection policies Established effective payment policies Help in getting the maximum rate of return on your idle cash Cash flow is the lifeblood of any construction company and especially the ones with annual sales volume under $1,000,000. Some Construction Company experts even say that healthy cash flow is more critical than your contracting company's ability to complete projects!  While that might seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer, you can always work harder to please the next customer. If you do not have enough cash reserves to pay your suppliers, creditors, and payroll, your Construction Company is out of business; game over! Final thoughts Many business owners find cash flow management stressful, but with a bit of information and planning, and by using the right tools and the right construction accounting consultant, you can have better insights into your company's financial situation. Those insights will help you make better decisions for your business and gain control over your Construction Company cash flow. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 476, And It's About How High-Profit Jobs Can Make Or Break Your Construction Company Knowing which jobs have the highest probability of success and profit before getting involved moves your construction company from an unpredictable roller coaster to a peaceful merry-go-round.   You have what appears to be a high-profit job, and now you think you have it made, and I hope you are right!   The problem is that high-profit jobs can turn into low or no-profit jobs. In some cases, they can bankrupt your construction company because you bid on the project using whatever model you are accustomed to using, and in the end, you wind up with cash flow problems.   Many problems can be traced back to the "Halo Effect," which happens when a contractor thinks, "We are so good at (fill in the blank) we should expand into (fill in the blank).  The most common situation is when a residential remodel contractor who has built a reputation and a substantial company generating profits of 15% or more decides to start building custom homes. Or the opposite, a home builder who decides to branch out into residential remodeling. Home Builder Doing A Residential Remodel The processes, tools, equipment, materials, skills, and invoicing procedures required to modify a home with people living there are entirely different from building a house from the ground up. New construction workers are more like cave people with a brute force mentality. If something doesn't fit or will not work the way they want it to, they use more brute force until it does. Every problem has one answer "Brute Force." The same goes for managing sub-contractors and suppliers. The home builder bids on a residential remodel project using the exact square foot costs they have continuously operated in building houses and quickly discovers the true meaning of "Hidden Costs." These costs include dry rot, cracked foundations, broken plumbing, bad wiring, worn-out HVAC, and other unpleasant surprises. Homeowners living in the house while the remodel is happening do not ever want to be without water, lights, heat, and privacy, and they don't know how much debris, dust, and noise is involved in a remodel. Homeowners want to believe everything is included in the original contract price, including the little extras they think of along the way. When it comes to change orders, that is something most home builders do not understand. They don't have a process for tracking them, let alone pricing and getting paid for doing them. Most trade contractors and subcontractors who work on residential remodel projects understand change orders and know how to apply pressure on the builder to get paid. Too often, the main reason home builders go bankrupt is cash flow issues. Residential Remodel Contractor Building A Home The processes, tools, equipment, materials, skills, and invoicing procedures required to build a house from the ground up are entirely different from modifying a home with people living in it. They understand brute force will not work, but patience, planning, and being respectful do. Randal spent a few years in residential remodeling, and it did not take long to learn that new construction behavior does not work in residential remodeling. The remodeling contractor uses a form of "Cost Plus" or "Not To Exceed" to provide the homeowner with the scope of work and a contract price the bank needs to finance the construction. That process can work for a residential remodel because the house is already in place, which helps define the size and scope of the project. The size and scope of the homeowner's dream house are limited only by what the building codes will allow. When the labor, material, other costs, and subcontractor bills pile up, the remodeling contractor asks for a construction draw and is told the bank needs a Pay Application filled out and submitted. Then it will take a while for the bank inspector to review the project and approve the draw. This is when the remodel contractor figures out they are providing all the labor, material, other costs, and subcontractor expense up front and getting paid only when and if the building inspectors, architect, bank, and the client agree to the draw request. The Solution For your construction company to survive and thrive in any economy, you must pick a niche market and develop your Strategic Business Process Management System (BPM) with written goals of what you want to accomplish and how much money you want to earn from it. Once you have picked your construction specialty, stick with it no matter what, and in the end, you will have the best chance of making money and retiring wealthy. All contractors who try to do the right thing deserve to be wealthy because they bring value to other people's lives. Lost and tired of your bookkeeping system? If you are using QuickBooks and doing your books (or have staff doing it for you), I recommend you head to our Construction Accounting Academy site and check all available classes immediately. Master the skills needed to generate useful reports, repeat quality performances, and make informed decisions to operate and grow your construction company. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 475, And It's About Proven Construction Business Processes When Creating Your To-Do List When you're a construction business owner, your to-do list is often long and constantly growing longer. You need to do many things, and it can feel like they're all urgent. In such cases, it's easy to push essential tasks to the side and focus on less-vital activities, but that often means you miss deadlines, make mistakes or always feel as though you're trying to catch up.   Construction Companies have two basic leadership styles; wait until an urgent situation occurs and react like a firefighter or develop business processes that allow the company to respond calmly and natural resources and solutions to the issues like a traffic police officer on a sunny afternoon.   Firefighter Leaders - Operate in one of three mental states: Going into a crisis Coming out of crises Waiting for a crisis Traffic Director - Leaders operate in one of four mental states: Preparing for new projects to appear Preventing projects from becoming an emergency Planning for implementation of current and future projects Empowering others and directing the flow of projects to completion and billing The graph below - Is similar to the diagram shown in The 7 Habits of Highly Effective People - Habit 3 Put First Things by Stephen R. Covey to demonstrate this principle. We spend our time in one of four ways, as illustrated in the Time Management Matrix above. This matrix defines activities as Urgent / Not Urgent / Important / Not Important.  With this in mind, creating your business to-do list would be more straightforward. Here are some ways for you to determine the most productive order to complete your tasks.   1. Know all of your tasks It isn't enough to have a running list of tasks in your head; you need to write them out to see them at a glance. Take the time to list all your tasks, and break down large tasks into smaller steps.  Write a list of the activities you need to do for the week—or even the next two weeks—on Monday morning. Include information such as how urgent they are, how long they'll take to complete, and their deadlines.  Now you know what you need to complete and when things need to be done.   2. Determine what tasks are vital There are many methods for determining which tasks are the most vital. We'll go into the Eisenhower Decision Matrix and the ABCDE Method. In the Eisenhower Decision Matrix (similar to the graph above), you classify each task into one of four quadrants. These quadrants are based on whether the task is important, urgent, both, or neither. Tasks that are both important and urgent should be done first, followed by those that are either important but not urgent or urgent but not important, and finally, those that are neither important nor urgent. If possible, delegate tasks that aren't both important and urgent to someone else. Another method is the ABCDE method, in which you assign each task on your list a letter from A through E based on its level of importance. Tasks with a level of A or B are the most important, while D and E are not at all critical. Anything from C down can likely be rescheduled or delegated to someone else.  3. Schedule your tasks Now that you know which tasks are the most critical, schedule your to-do list in that order. Write yourself a daily checklist that puts the most important tasks at the start of your day. Don't overschedule yourself, however. After all, there's a good chance that a new activity that is both important and urgent will arise in the course of your week, and you'll need the space in your calendar to address it.  Give yourself deadlines in the day to get the work done based on a reasonable assessment of how long the activity should take you. You can also chunk your work, setting aside specific, uninterrupted periods to do focused work and then scheduling breaks around that.  Make sure you turn off distractions and let your colleagues know you aren't available during those times. Final thoughts Large, profitable construction companies have known and used some form of Business Process Management (B.P.M.) for hundreds of years. We've always used M.A.P. to help our clients find the treasure hidden inside their construction business. You can download our free toolkit here if you haven't done so. By determining which of your tasks are the most important to you and your construction business and scheduling your day based on that criteria, you can ease the pressure caused when you have a long list of activities to take care of. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 474, And It's About Bad Business Practices In Construction Bookkeeping One of the biggest challenges construction company owners like you have with an in-house bookkeeper is training them to work for your best interest, not theirs, and deliver consistent results and the reports you can trust daily, year after year.   Having been involved with construction and construction accounting and bookkeeping for over thirty years, we have seen a consistent pattern repeated over and over that will turn ordinary, decent, pleasant bookkeepers into a disheveled, broken, mean, nasty, arrogant trolls, and that's a good day when the sun is shining, and the birds are singing!   Here's how it happens:  Someone is assigned the construction bookkeeping duties, and they are typically mild-mannered, shy, and unable to say no. The newly appointed "bookkeeper" opens the QuickBooks Pandora's box and loads the CD in the computer, believing it will be set up and ready to go in ten minutes.  That's when the first of several unpleasant surprises happens; the pop quiz. QuickBooks screens start popping up and asking questions! Nobody said anything about a test or an exam, and panic began to take hold. The bookkeeper thinks, "don't screw this up because I can't afford to lose this job!" The questions keep coming like a raging river, so to put the responsibility on someone else, the bookkeeper asks the contractor for help and is told: "I don't know, you're the bookkeeper. Go figure it out. I'm busy!" Luckily QuickBooks has a guided tour of QuickBooks setup; unfortunately, the bookkeeper charges forward, taking all the default answers suggested by QuickBooks, and in just over two hours, QuickBooks is set up horribly wrong. 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 to operate and grow your construction business profitably. Contractors who do not earn much money see bookkeeping as overhead which costs money and therefore is a drain on profits, so they get a cheap computer, tiny monitor, garbage printer, tiny desk, and broken-down chair. The contractor assigns additional tasks to the bookkeeper to get their money's worth. "Go fetch" and do everything - like personal errands, delivering materials, supplies, and paperwork to the job site, handing over all usernames and passwords to buy and pay stuff, making coffee, answering the phones, taking out the trash, cleaning the bathroom—anything and everything to get "value" out of the time and money wasted on bookkeeping. Contractors can miss many deadlines but miss a payroll, and they are out of business. The day that happens, your staff is looking for a new job no matter what they tell you. The contractor gets angry, makes deep noises from the chest sound like important messages from the brain, and blames the bookkeeper for the missed payroll. What has now evolved into the incompetent bookkeeper will respond with something like: "The time cards never arrived, so I could not process payroll!" The contractor simply responds with something like: "You should have figured out how to get them even if it meant using your car, your gas, your personal time and have gone to the job site and got them; it's your fault! I depended on you to do your job, and you let me down!" This is where the ordinary decent, pleasant bookkeeper starts growing an attitude, thinking you don't understand how complicated bookkeeping is with a program like QuickBooks that is all screwed up and won't work right! Getting anything done in QuickBooks is an immense fat royal pain, let alone all the other stuff the contractor wants to do. The bookkeeper thinks you don't know or care because you hired them to take care of the paperwork, and that is precisely what you did because in business, you produce reasons or results, and reasons don't count. Next, your vendors and suppliers don't get paid on time, or worse yet, you miss the 2% discount if paid by the 10th, which in effect means you are paying a 36% annual interest rate penalty, and when you ask why, the bookkeeper says they didn't have enough time to get the bills into QuickBooks. Next, the payroll tax returns, sales tax returns, labor and industries tax returns, business and occupation tax returns, city licenses, and liability insurance audits start slipping, and the fines and penalties add up. These bad business practices can frustrate you or any construction business owner because you've now realized it is a costly mistake. These do not even include overpaying income tax, lost productivity due to stress, and several other unknowns. Now you have three responses; fight, flight, or replacement. Fight and demand could get it done, but how reliable (your reports) will it be? Flight and hiring another in-house bookkeeper could only repeat the process. Or you can save time, money, and aggravation by outsourcing to a competent construction bookkeeping service. The choice is yours; consider it before allowing these bad business bookkeeping practices to drive you insane. Protect yourself and your business. As we always say, you deserve to be wealthy because you bring value to other people's lives. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 473, And It's About How Technology Helps Construction Businesses Save Money The use of technology in construction has come a long way. Many articles have already been written about how construction has been sluggish in adopting new advancements in technology compared to other business sectors. However, more and more companies, especially small construction businesses, have been open to using technology to improve their operations.    Any change is difficult–especially in business. Changing how things have always been done in the past involves a lot of effort, persistence, and flexibility, not to mention financial investment. To sustain the interest and efforts towards these changes, it's crucial to fully understand and not lose sight of the benefits of adopting technology. For businesses, increasing the bottom line and reducing costs are always practical reasons to leap.    Here are the ways technology helps construction businesses reduce costs: Pre-construction Process From bidding up to gathering the materials and workforce required for a project, there are many inefficiencies that technology can solve. Relying on paper or even disparate systems can cost different stakeholders a lot of time and money in the pre-construction phase.  Careful planning helps contractors prepare for a project where delays are minimized; budgets are accurately forecasted and adhered to, and, ideally, different apparent and hidden risks are identified and mitigated. This applies to various participants in a project. Planning is equally vital if you are a subcontractor or supplier to a big project.  End-to-end project management software tailored to construction projects solves many of these issues. It also serves as a single source of truth for different participants in the project. Traditionally, most documents like plans and blueprints are in the form of hard copies, making it difficult to communicate changes and practice dynamic version control. The time spent passing on and confirming new information is necessary when dealing with paper references. These are eliminated when plans and documents are digitized. Not only is time saved, but errors and miscommunication are greatly minimized. The transparency and efficiency resulting from embracing technology in the pre-construction phase pay off beyond the savings when plans are created. The increased efficiency and transparency also foster timely progress and early discovery of issues when the project is in full swing.  Business Operations For smaller contractors and construction businesses, ensuring that back-office operations are as error-free and optimized as possible is crucial, especially with the razor-thin margins in the industry. While those on the job site are hard at work ensuring that services, labor, and materials are delivered up to the client's expectations, those who work inside offices to support projects, especially on the finance side, benefit significantly from technology in optimizing work–ensuring that precious hours are used in high-value activities instead of being consumed by repetitive and easily-automated tasks.  Accounts receivables, accounts payable, payroll, and general accounting functions are among those where embracing technology makes an immediate impact. Many of those in construction accounting already use spreadsheets to manage accounts and finance. Construction accounting has complexities that require different approaches where using disjointed spreadsheets can fall short. Additionally, relying on spreadsheets and manual file management opens up businesses to risky errors that lead to poor records, inaccurate data, and poor decision-making. Another area where technology can save construction businesses from losing profits and time complies with legal requirements. For payments, a fundamental but often unwieldy portion of credit management is ensuring that all projects worked on are protected by lien rights. States have varying requirements to preserve mechanics' lien rights. Staying on top of preliminary notices can be cumbersome, yet overlooking them can cost big. Automating notice tracking and filing through lien management software is a must for contractors, subcontractors, and material suppliers working on multiple projects.  On The Job Site One of the most powerful benefits of using software in construction is improved communication. The ability of different construction participants to stay on the same page as far as the progress of the project and the necessary hand-offs and confirmations are simplified and streamlined using tailored software. Even emails can get unwieldy and disjointed quickly and cause "email blindness" that discourages people from checking communication in real-time due to email communication's bulky and lengthy nature.  Through features that ensure transparency and clear communication that construction software often offers, participants can focus on their project roles instead of digging through mountains of messages and relaying information to multiple point-people. The use of mobile devices amplifies these benefits. Most software in construction can be accessed through tablets and phones, offering businesses a cost-effective way to communicate in real-time. Drone Technology To those who have embraced drone technology, the pay-off has been manifold. Drones help construction businesses in many ways, from reduced staffing needs for site surveys and monitoring to using drones in conjunction with AI to monitor the efficiency and productivity of those on the job site. Drone technology also helps contractors map out the construction process even before resources are delivered to the site, so less time is wasted moving resources and people around. Safety is also increased because previously hazardous tasks can be done via drones, such as monitoring high-rise projects.  Technology pays off Adopting new technology is a challenge, but it's worthwhile when you know how you're benefiting. Whether you're the decision-maker for new technology investments or putting together a case to get buy-in for new tech, hopefully, this article has helped.  About The Guest Author: Patrick Hogan is the CEO of Handle.com, where they build software that helps contractors and material suppliers with lien management and payment compliance. The biggest names in construction use Handle on a daily basis to save time and money while improving efficiency. ,

This Podcast Is Episode Number 472, And It's About Unconventional Ways To Market Your Construction Business   One of your greatest fears is wasting money on a less than good lead.   They may or may not have any genuine desire for services. Sometimes a person is committed to collecting three bids when they already have someone picked out to do the work. They may be looking for a "temporary friend" to do them a favor, or by the time you have completed the form, they have changed their mind and no longer want service. This is often the case when one spouse or partner wants the work done, and the other doesn't.   Sometimes you want to try something new when networking with other business owners. Here are some unconventional ways to grow your network and bring in new leads. 1. Collaborate with others in the industry You know your niche, so you know the questions about your industry. Collaborate with people who fit your ideal market. For example, you could create a newsletter where you ask people in your niche market questions about the industry, or you could send out a survey to your market to create a report about the state of the industry. Ask the people you want to work with if they'd be a speaker at an event you host.  The more people you speak with, the more your name will be seen as a leader in the type of construction industry you work in, so don't be afraid to reach out to people to share their insights.  2. Try a new social media platform You want to be where your customers are, but if you're looking to network with new people, you may want to try a new social media platform. Learn how to use the new platform–including any groups or communities you can be part of. If you've always used Facebook, give LinkedIn a try. Once you're on the new platform, look for leaders to connect with and share your content with a new audience. 3. Make videos Users are increasingly engaged by video content. It's personal, shows the human side of your business, and fosters relationship building. You don't have to spend much time or money creating video content. Using the camera on your smartphone, you can film yourself talking about your services and business or sharing insights. You can even record personal messages to go out to leads to get to know you better.  4. Attend industry events If you offer services to particular clients, look into whether you can attend conferences and trade shows. For instance, if your construction business focuses on tiny home building, find out if you can participate in networking events. Go to the events to get to know other people rather than sell your services. Ask lots of questions to get to know others and gain insights into the industry. 5. Host an event Ask what information is essential to your audience and host an event that addresses those pain points. A virtual event with a guest speaker and information relevant to the industry is excellent. Make sure you or someone from your construction business can speak and market your event to potential clients in the industry.  6. Become a resource Introduce people to each other and tell them why you think they should get to know each other. It may sound counterintuitive, but those on both sides of the introduction will remember you as helpful if you start referring people to others. Have a list of service providers you trust and your names to share with others. You can also share valuable content, guide people to the resources they need, and answer questions in your niche. Write a list of the service providers people in your niche typically need and have some names handy as referrals. These may include business lawyers, marketers, importers, various vendors, and construction accounting specialists. They'll all remember you for referring them.  Final thoughts Most homeowners have a real need before asking for a stranger to come. They are looking for any "Affinity" that makes you a safe choice. This is why people are on the Social Media sites looking for "A Friend" or "A Friend of a Friend" anything to get a primary connection; an opinion from someone else before inviting you into their home. When people see you as a trusted resource, they'll see your value and come to you for your insights.  If you have any questions about your accounting or want to know more about how we can help you with your finances, contact us to discuss your needs.  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. Call 1-800-361-1770 or [email protected]

Every day you make financial decisions about your company, which affect how successful and sustainable your construction business is. If you're responsible for the bookkeeping and all the paper management (bills, receipts, estimates, invoices), you could be making errors that affect your decisions. Because of an incorrect decimal place, you may think that you have more money in the bank than you do. Or you may not fully understand how a decision today affects your business tomorrow.   Keeping up with paperwork is a typical construction business timewaster we noticed in more than thirty years in the industry. Doing your books often winds up costing you more money in the end, not to mention the time and energy that goes into a task you despise or, at the very least, don't fully understand.    This is one area that many construction company owners hate to be part of but still choose to take responsibility for.   Here are some ways having a construction bookkeeper can solve your paperwork frustrations and free more of your time:   1. Financial Health   A bookkeeper keeps track of your company's financial health and can advise you on decisions that can help you grow your business. They can also warn you about pitfalls that could hurt your long-term growth.    Consider that you have a great month with a lot of money coming in, so there's extra cash in the bank account. You might be tempted to upgrade your equipment, but a bookkeeper can warn you that there are upcoming payments the money is earmarked for. They can help you determine the best time to purchase those tools, so you won't suddenly find yourself with a zero balance.   This information becomes even more critical if you're looking to undertake significant financial transactions, such as taking out a loan or purchasing a new truck. A bookkeeper can help you fully understand the financial ramifications of such a move.    2. Late Transactions    You might think a late bill payment doesn't affect your business, but the fees associated with late payments add up, and missing the wrong payment can affect your company's credit. That may make it more challenging to get a business loan or credit card.    Worse, you could miss important transactions in one month that have ramifications for your business the next month or later on. By absent-mindedly skipping a payment in May, you may think you have extra money that gets spent—until you notice you have to double up on payment in June.    Construction Bookkeepers stay on top of your financial transactions and understand how every transaction affects your business. They can help determine the optimal time to pay debts and let you know if clients are behind on payments.    The information and insight a bookkeeper provides can go a long way to helping you make intelligent business decisions. Not having a bookkeeper adds unnecessary work to your load; it increases your stress and increases the chances of errors.    3. Tax Compliance   On top of all that, bookkeepers also stay aware of changing laws to ensure your company is compliant with payroll and tax laws and any other financial rules and regulations that affect your business.      With all the negatives to doing the bookkeeping yourself, why wouldn't you hire a bookkeeper so you can focus on growing your business?    Final thoughts   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.   Remember, if you are sick and tired of doing administrative tasks such as handling your documents, we are here to remove your paperwork frustrations. Although a 100% paperless office is not the complete answer, we can certainly help you reduce most of it. In most cases, we can help contractors like you eliminate over 50% of your paperwork; the related savings and increased production more than pays for our services.   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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 470, And It's About How To Balance Profit Centers And Cost Centers In Your Construction Company Success in operating a profitable construction business is all about maintaining the proper balance of control over both The Profit Centers and The Cost Centers. If either one gets too powerful and is allowed to run your construction company, it can cause more damage than good.   The definition of a Non-Profit Construction Company is one that tries to fix its weaknesses and continues making the same mistakes repeatedly, expecting a different result and continues to struggle until the owner lays down and dies from over-work and exhaustion.   A Highly Profitable Construction Company builds on its strengths and core competencies and continues innovating, growing, and responding to changes in its environment.    It's Not Rocket Science; It's A Lot Harder Than That! Profit Centers Most construction companies earn most of their profits from less than four different project types or Profit Centers. Residential Remodel Contractors Have Four Main Profit Centers: Kitchen Remodels Bath Remodels Additions Whole House Remodels Commercial Tenant Improvement Contractors Have Three Main Profit Centers: Commercial Service Work New Installation Whole Space Remodel Service And Repair Contractors Have Three Main Profit Centers: Service Work New Installation Remove And Replace New House Builders Have Two Main Profit Centers: Spec Homes Custom Homes Every construction company has strengths and weaknesses, which means there are particular types of projects they consistently earn lots of money. And there are some types of projects that they always lose lots of money doing. The answer is found in that gold mine called QuickBooks Job Costing Reports and QuickBooks Job Profitability Reports. These reports provide you with a treasure map to see which profit centers your particular construction company makes the most money in and which ones you lose the most. Do more of the ones that make you money and fewer of the ones you lose money on. I will give you a hint; you may not like it, you may stop reading and leave angry; In most of the research we have done for our construction clients, we have discovered the concept of Leveling applies not just to whom you spend time with but to who refers jobs to you! Cost Centers They all share the same three Cost Centers, Marketing - Accounting - Production (MAP) Marketing Is The Number One Cost Center One current client or customer is worth more than all of your prospects combined. All contractors need existing customers and new ones to survive and thrive. The 80-20 Rule for contractors can guide your marketing dollars where they will do the most good. Understand and document your target market demographic and psychographic profile. Focus 100% of your marketing on your target market and forget everyone else. Identify the top 20% of your customers that generally generate 80% of your net profit.  Identify the top 20% of the goods or services you sell 80% of your revenue. A good rule of thumb to grow sales is to budget 5% to 10% of gross sales on marketing. Anything less is like winking at a pretty girl without her knowing you are doing it. Relying 100% on word of mouth and referrals keeps contractors poor and broke. Accounting Is The Number Two Cost Center Successful, highly paid contractors understand and use reliable QuickBooks Financial Reports and Job Costing Reports to know: Which jobs they are equipped to do and make a handsome profit on because it is one of their primary to bid on and pursue Usually, contractors who understand this concept earn the bulk of the profits in the construction industry. For what it is worth, "There is a Hall of Justice; however, there is no Hall of Fairness." Production is the number three Cost Center This is where all your hard work pays off. At this point, you have some basic operation manuals in place for your field and office employees. It is the document that answers the same questions you will be asked hundreds of times. It is the Wikipedia of your company. "This is Who We Are, and How Things Are Done Here." Now you have a road map to success, and all you have left is to assemble the tools, equipment, and employees, set up your trucks or vans, and work! The reason is simple. A contractor focusing on finding and optimizing profit centers will have a much more difficult job than someone overseeing a division that is not classified as a profit center. A profit center manager will have to increase sales by generating additional revenue and decreasing costs (as a percentage of income), much like an entrepreneur would have to do in their own independent business. On the other hand, a cost center manager only has to worry about staying within budget. (A cost center is a department that is important to the overall success of a company, but its contribution to revenues and profits can be only incrementally measured. A cost center is an area that typically runs red ink in upfront losses but will result in a much richer company if managed correctly; think of the research division of a major pharmaceutical corporation that spends billions developing new drug treatments without selling a single pill for years). If the pipeline were to dry up and the cost center shut down, the company would soon find a shadow of its former self. Yet, it is a cost center and not a profit center that is likely to find itself at the top of a list for recessionary layoffs. Many businesses are tempted to treat all divisions as cost centers instead of profit centers. This can be a horrible mistake because if managers are rewarded simply for cutting costs, they will not make sufficient reinvestment in a business to grow profitably in the future. Hence, you eventually end up with outdated equipment, facilities, and staff and your customers are likely to go elsewhere because their needs aren't being met. On the other hand, a profit center approach blends the need for current cash with the desire to grow earnings in the future, making a manager accountable for the long-term health of a business. The legendary management consultant and thinker Peter Drucker created the term profit center in the 1940s. He subsequently asserted that the term profit center is a misnomer that leads managers to focus on the wrong overall priorities, insisting that everything is a cost center. By focusing only on the absolute profit of a division, factors such as return on capital, opportunity cost, efficient use of resources, and relative returns are ignored to the detriment of the stockholder or owner. Final thoughts A holistic Business Process Management Strategy (BPM) is the only way to optimize profit and cost centers. Outsource your accounting services to a firm specializing in Construction Bookkeeping And Accounting because it is a chore for you. In most cases, we can do the job for much less than an in-house bookkeeper because we have a system. Above all, learn to read your financial reports; we can guide you on which reports to pay attention to and why specific reports can make you more money than the other ones. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 466, And It's About Five Effective Ways To Find New Construction Clients If you want your business to continue growing and thriving, you'll need to find ways to bring in new clients.   Before the internet was commercially available, there were just as many experts advising contractors about the layout and design of yellow page ads and which books to spend money on. I say spend money because that is what it was and is now.   Many of us who owned and operated construction companies spent thousands of dollars on these experts and, based on their recommendations, spent tens of thousands of dollars annually in full-page yellow page ads as close to the first position as possible.   Nowadays, instead of yellow pages people, I see many well-intentioned people with their minds and hearts in the right place that have a lot of really great ideas on what works and fails in social media. I certainly don't know what works for every contractor; however, I know that every construction company is unique, and what works for your competitor may not work for you. Spending money is easy; investing money takes work. Here are five ways you can find new clients for your construction business.  1. Set aside time for marketing Regardless of whether marketing is your preferred activity, you need to set aside time for it. It's easy to put marketing at the bottom of your priority list, but it makes it more difficult for you to bring in new clients. If you set aside a certain amount of time every week, or even every day–ideally at around the same time or week–you'll be more consistent and successful with your efforts.  Have a list of marketing goals, such as "post three times on social media this week" or "write two blog posts this month," and spend your time working towards those goals.  2. Ask your clients for referrals Get comfortable asking your happy customers for referrals. Your happy clients are a fantastic source of new leads. They're satisfied with your work, and they can tell their friends and colleagues about how you helped them.  You can do so face-to-face, for example, at a meeting where you've just given them great news or a fantastic outcome, through email using a pre-written template that talks about how much you enjoy working with them and how you want more clients like them, or on social media, where you put out a general call to your happy followers to share your business with others.  3. Join social media groups Many social media networks enable groups where you can talk to people in your communities. Although you can use the group to pitch your services and directly ask for leads, a better method is to use the forums to educate people and highlight your expertise without selling. People will begin to look to you when they want advice and insights and ultimately turn to you when they need your services.  4. Genuinely get to know people Sometimes the best way to get a client is simply by talking to new people. Make it a habit of being curious about the people around you. Ask them questions to get to know them, rather than selling to them. Learn about their passions, pain points, and the things they need help with. Then assist them. Showing genuine interest in others makes them feel valued, builds your relationship, and fosters trust. From there, it's easy for them to decide to work with you.  5. Form a partnership It doesn't have to be a formal business partnership, but reach out to businesses in complementary industries to suggest a referral relationship in which you refer relevant clients to each other. You could also agree to partner up on specific projects. For example, a kitchen remodeler and a flooring contractor could refer clients to each other or work together on projects requiring both skills.  Final thoughts  New clients are vital for growing your business. By being strategic, purposeful, and genuine, you can easily find new clients. We encourage you to develop your own marketing tracking system, and perhaps you will discover what works best for your construction company and, as a result, increase your sales bottom line profits.    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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 468, And It's About Processes To Increase Production And Reduce Injuries At The Job Site Some construction business owners believe in maximizing production by driving everyone from the laborers to the project managers to work harder, longer, faster, hustle, and run. And if they are giving less than 110% to the company, they are not doing enough. One thing to consider: Don't let construction workers think too much; they may injure themselves. Apprentices and most Journeymen working on a construction job site are better off not thinking but simply following routines and patterns established by management based upon best practices. At first read, this sounds harsh, and yet it comes from our own experiences as a contractor operating multiple job sites with small crews on each from two to ten people; this one concept generated a lot of bottom-line profits and kept injuries very low. The system is the solution. Being process dependent, not people dependent, means investing the time and energy to plan your construction projects so that everybody understands what is expected of them.  Microsoft Project is a wonderful tool, and if all you use is 10% of it, just the Gantt chart for scheduling and resource allocation, it cannot help but make you money and save time. Real-life example: Our main office is a two-story building we purchased at auction for the right price. It was in terrible shape, having been foreclosed on, and appeared to have several years of deferred maintenance. The entire electrical and HVAC systems had to be replaced, with most of the plumbing ripped out or leaking—parts of the foundation and supporting beams and columns needed massive repairs. And there were several tons of debris everywhere inside and outside the building. We invested over one hundred hours putting together a commercial remodeling project plan which included all new phone lines, data cabling, and an alarm system. The project plan was detailed and broken down into phases with schedules for material deliveries, debris removal, and skilled trades that would be complete in less than thirty days, including all the building permits and final inspection. We hired our contractor clients to handle most of the work, and Randal was the project manager. At the kickoff meeting, nobody could understand how it could get done in that time frame; however, at one time or another, they all had private strategy sessions with him, which included custom Business Process Management action plans for part or all of their construction company. In every case, the number of his recommendations they implemented was highly successful. This means they increased profits and cash flow by making or saving money. Remove choice at the operational level. There was a mix of laborers - apprentices, and journeymen, and because it was all orchestrated with a 4' X 6' white dry erase board that we regularly updated with the people's names, tasks they were to perform, and location. Everyone knew exactly what was expected of them; they had the tools and equipment, we had to rent some of them, and the material arrived just in time. The entire project turned into a learning experience for most contractors involved because they saw our project management and construction accounting methods come to life before their very eyes. To be clear, it just so happens we are an inch wide and a mile deep in a few areas. Outside our areas of expertise, we are worse off than an apprentice with delusions of adequacy. In all our construction companies (including our office building project), we also used a process to encourage innovation and optimize production.   Morning Meeting - We provided light snacks, pastries, fruit, bottled water, juice, coffee, and tea. We begin with the legal requirements and end with a sheet of paper listing the goals for the day for EACH Person, which the superintendent/foreman/lead person, whatever title you use, keeps in their portfolio. Lunch Meeting - We provide lunch for everyone, and EACH Person gives a morning progress report and afternoon target, which is updated on the sheet of paper, listing the goals for the day for EACH Person. Afternoon Meeting - Work stops ten minutes before everyone is due to clock out, and everyone gives an afternoon progress report and the next day's target, which is updated on the sheet of paper, listing the goals for the day for EACH Person.  Well-fed construction workers produce more work in less time, with fewer mistakes, saving you time and money on your labor, material, warranty work, and other costs. After a few hours of intense construction work, they could be a bit dehydrated, and having burned several calories, they could be getting important messages from their stomachs regarding food. This usually results in them slowing down a little bit costing your company some profit dollars. Final thoughts Minds tend to wander when the next step is not clearly understood by your crew, which leads to thinking - a distraction that could lead to injuries, and injuries cost pain, time, and money!  You should find production increasing steadily because everyone has a voice, Journeymen, Apprentices, and Laborers, which creates a positive atmosphere, and as a bonus, you should find substantial increases in innovation as an ongoing process without disrupting production. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 467, And It's About Four Key Areas To Evaluate In Your Construction Business Budget With the potential for business life to return to something resembling normal, it's good to look at your budget and see where you may need to shift some of your priorities. Pay attention to how your spending over the past few years affected your business and either helped you achieve or took you away from your overall goals.    Considering how your business and your employees functioned in recent years can help you predict upcoming trends, enabling you to plan for adjustments.    There is no better time to reflect and think seriously about your construction business. Excellent organization systems add considerable value to any business because they allow you to spend more time working on your business rather than on it.   Here are some key areas to evaluate in your budget to determine whether you need to spend more or less in these areas.  1. Technology This is possibly the business area with the most room for growth–and the most evidence that adoption is needed. Technology has made it possible for your office employees to work remotely, for you to provide consultation services virtually, and for you to stay connected with your team while working from the job site. If your business is enabling remote work, you'll need to ensure you've got the proper systems and equipment, such as document storage, redundancies, cybersecurity, and anything else the law might require.  Make sure everyone on your team has access to the equipment they'll need and knows how to use it.  There's no question that these apps and software platforms can make business owners' lives easier. Most business owners didn't start their business to be surrounded by paperwork and endless record-keeping tasks. Choosing a platform that meets your company's needs will free up time and energy to focus on what you love to do.  2. Human resources With virtual work comes access to employees from across the globe. Geography is no longer a barrier to hiring skilled employees, at least not in companies that use remote work.  Having teams from across your country and around the globe is an incredible opportunity. Make sure you've invested resources in understanding the various rules and regulations they're governed by. They likely have different laws regarding payroll requirements and benefits plans. There may even be rules about how you can hire and fire employees.  Make sure you understand whose employment laws govern the work they're doing for you, and then be sure you take the necessary steps to follow those laws.  (For instance, contractors who outsource their marketing to remote employees) 3. Automated systems There are many activities involved in running your own business. Some need your time and attention. Others can be shifted to automated systems, freeing you for more vital tasks.  Take a look at the activities you regularly carry out. Even those that only take a few minutes a day add up over a year, and chances are they can be automated.  Online invoicing systems make it easy to send invoices and follow up with people who haven't paid you, all with the click of a button. Customer Relationship Management software (CRM) enables you to track leads as they move through your sales funnel and become your customers. Project management software lets you manage your projects from your smartphone, no matter where the job site is.  Most of these automated systems also produce comprehensive reports so you can gain valuable insights into your business processes. I am all about automation. Managed automation is when transactions go where I expect them to go.  Choosing the individual third-party software is always best based on the benefits. You are not getting it because it links with this but does not do what you need. I always suggest determining if the app Is helpful as a Stand-Alone Product. Determine who in the company needs it (and will use it): Office Field Estimator Project Manager Again, the key is in the setup (what do you want to know). No program does everything. In most cases, we recommend an online version of the software, which is quickly updated over the desktop version in a box. My only exception is QuickBooks Desktop Software (Get the box with CD). Set aside a week or two to look at any processes that can be automated within your business. 4. Consultants You don't have to be an expert in every aspect of your construction business. If there are areas you aren't certain of or want to learn more about; you can hire outside parties to guide your decision-making. Consultants can help you manage your construction business, evolve your career, build relationships, and even market your goods and services.  Consultants provide an external and unbiased perspective on your business. Because they're experts in their field, they have insights into what other contracting companies are doing–and what has and hasn't worked. They can also help you anticipate and plan for upcoming challenges.  We offer free one-hour consultation (if you're new to our blog and didn't know). It's time to focus on you and your needs, everything about you and your company, and anything else you want to talk about. Including but not limited to the dangers, opportunities, strengths, challenges, and concerns of being a construction business owner. You, you, you! Everything in this meeting needs to be all about you; because sometimes all a contractor needs is someone to listen. Final thoughts When you run your own contracting or trade business, your life involves many long days on job sites while managing projects, staff, and clients. There probably are not enough hours in the week for you to deal with all the issues that arise while keeping your clients happy, and taking time out of your schedule to manage your business is probably the last thing you want to do. Examine these four critical areas in your business to determine whether it's worth spending more on them in 2022 as you grow your construction business.  Or you can access our system (Technology and Automation) with an Outsourced Bookkeeping Subscription (Human Resources and Consultation) around the clock for a tiny fraction of the cost.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 466, And It's About Delight Your Online Prospects - Converting Visitors Into Clients Businesses are increasingly moving online to expand their reach and provide the best possible experience to their customers. Being online, however, means more competition, so business owners must come up with ways to amp up their game to gain a more significant market share.    You won't build a loyal client base if you can't earn your visitors' trust, so companies value social proof so highly. But proving your construction business's value online takes a unique skill set, one you can nurture by learning from the marketing industry professionals.   Great news for construction business owners like you since you're hyper-local and offer your services based on your location, which means you can target your online audience and optimize for better search engine results.   Connect with your prospective clients and "wow" them even before they reach out to you by implementing these strategies: 1. Put the buyer's journey at the forefront The buyer's journey refers to your customers' path when they hire your services from your website. Your responsibility is to focus on the buyer's journey and give them a straightforward approach to navigating. The homepage is the face of your business online, so be sure you make a positive first impression. By looking at the homepage, it should already be clear to your customers what services you're offering. This is also your first opportunity to show why your business stands out.  Aside from making your website easy to navigate, you should also ensure mobile-friendliness to meet the needs of homeowners that increasingly want to call or message you quickly from their smartphones.  Set clear expectations, such as using a "Start Now" button if there are a few steps to take or a "Schedule Now" button that implies immediacy. Randal once talked about Customers Vs. Clients and how taking care of your clients is essential not just for acquisition but also for sustainability. After all, it is easier to maintain a client than to gain a new one. 2. Make the process easy Customers love a convenient experience. A simple process makes it easier for them to keep saying "yes" and gives them fewer reasons to abandon the form when inquiring. To make more sales, it's imperative to make it easy for your prospects to navigate your site and reach their goal. Ensure that the hiring process is as streamlined and smooth as possible. Ensure all links work on your site, and all service descriptions are accurate and up-to-date. If possible, have a one-click option available so people in a hurry can make a purchase quickly and easily.  If you offer services that encourage repeat purchases, have an option for your customers to repurchase the same service easily, either through a subscription or a "buy again" button. Empathize with your client when addressing their needs. Make their experience fast and easy when reaching out to you. 3. Get reviews Reviews are the most obvious form of social proof. Not only do visitors look for them to gauge a product's value, including websites, but they also value sharing their opinion. For example, a service-based business website that only showcases before and after photos will have weaker social proof than one that lets clients submit their reviews, even if no one has yet. Reviews come in many forms. Lists count, and so do likes and dislikes on media websites. While you can ask others for reviews, this will annoy some people, making it easy to find and review your site is usually a better option. 4. Integrate the right apps into your business As technology evolves, more and more apps are being developed to automate and streamline processes. To scale and grow your website effectively, it is essential to have the right tech. Xero is a leading cloud-based accounting software that can help ease your accounting burden and save time working on your books. Aside from making your data secure and easily accessible from the cloud, what's great about Xero is that you can integrate a range of other apps that support retail businesses with things like inventory, payments, shipping, and many more--making this cloud accounting system even more powerful. We offer subscription-based accounting using Xero in case this is something you would like to integrate into your construction business. Final Thoughts The future looks bright for small construction businesses as customer preferences change and people turn their focus to local or independent companies. To establish a successful website for your business, you also need to ensure your numbers are on track. So let our team of accountants take over the finance side of your construction business while you focus on doing what you do best–growing your business. It is important to develop a growth mindset because there's still no one-size-fits-all marketing solution for every type of business, nor will there ever be. As a construction contractor, I trust that you are adaptable to change and resilient in all the challenges that come your way.  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. Call 1-800-361-1770 or [email protected]  

Contractors who ask for help in Cleaning Up their QuickBooks Files before filing taxes have better results than those that do not. The Tax Accountant is happier because the QuickBooks file is clean and easier to work with. They will likely find more deductions that can save you money and, in some cases, mean the difference between success and failure in your construction company. Because the QuickBooks file is clean, the Tax Accountant will have fewer questions for you. Because the QuickBooks file is clean, the Tax Accountant can easily find the reports needed to file your tax return. Because the QuickBooks file is clean, the Tax Accountant can focus on saving you money. You are the Happiest because taking a trip to the Dentist for many contractors is less painful than going to the Tax Accountant. Once a Tax Accountant is "Broke In," you hate to change them. It shouldn't have to be that way. Like a new pair of shoes – All is well and a Happier Experience, once the Tax Accountant and The Contractor understand the needs and expectations of the other. Bad Experiences Just Spiral Down Tax Accountant does not want to see a Box of Receipts, Twelve Bank Statements and a see you later; call me when it's done. You reply, "I wanted my refund yesterday." It Is Tax Time, And The Tax Accountant Gets To Choose What Client To Work On Next The condition of your Financial Statements (or lack of Financial Statements) may put you at the bottom of the pile. From time to time, Tax Accountants will find paperwork or a QuickBooks file in such awful condition that they refuse to do the taxes until changes have been made. Contractors who are serious about their business need to be actively involved. A little bit of effort goes a long way to document that their company "Is A Business" and not "A Hobby." A Good Start Is An Accounting System Based On Construction Accounting Next is keeping all the receipts. Pay all expenses by check, debit card, or credit card. Creating Customer Invoices. Putting all the Income into the Bank. Hire a Construction Bookkeeper! Outsource to someone who understands your needs and Construction Accounting The Thought That "Anybody Can Do It" Is Not Quite Right Contractors need people who specialize and understand Construction Accounting. With all of the taxes and reports due, a bookkeeping specialist should be someone who knows what they are doing. Most Bookkeepers specialize in an area. Restaurants, Medical, and Construction all need bookkeepers. Just not the same Bookkeeper. Several General Bookkeepers have recently called saying they are the "New Bookkeeper" and are asking for help because they know the QuickBooks file is messy. The question is: Can we help you or your Bookkeeper? Short Answer – Yes, We Can Help! Bookkeepers want help in setting up a New QuickBooks file Bookkeepers want help cleaning up the mess of the previous Bookkeeper. Bookkeepers want Training on What To Do After the QuickBooks file is cleanup Provide a One-Hour Consultation and Free Review of Your Existing QuickBooks File. We recommend you have someone review your financial statements before going to the Tax Accountant. Remember, this is the busiest time for Tax Accountants. They do not have the time or the energy to look over all your transactions. Tax Accountants look for high-level numbers and what they can quickly move to fill out the tax return. Good Idea to clean up the QuickBooks file before visiting your Tax Accountant or banker. Know the difference between what a good Tax Accountant and a good Construction Accountant do. Tax Accountants Are Paid To Fill Out Tax Returns Not Save You Money Or Be Your Mentor We Are Paid To Do Your Contractor Bookkeeping And Be Your Profit And Growth Mentor What about this? What about that? Who owes you money? Who do you owe money to? Do you know your Customers? Do you know your Net Income? Do you know your Gross Income? Are your vehicle loans in QuickBooks? Have all of your bank accounts been reconciled? Have all of your credit card accounts been reconciled? Construction Bookkeeping Is Answering The "What About" Questions Sooner Rather Than Later Or Not At All Without the details entered into QuickBooks, it is IMPOSSIBLE to create useful reports. Without customer Invoices, there are no Accounts Receivable Reports. Without Accounts Receivable Reports, you don't know if the customer has paid in full. Without customer Names in QuickBooks, there is no way to create Job Profitability Reports. I agree – Day to day bookkeeping can be boring, tedious, or moments of sheer terror when you discover that all the money in the bank is already spent. It is NO fun not to be able to buy a new truck with that Job Deposit you just collected. I want the fun stuff, not the hard stuff. Day-to-day bookkeeping is complicated. One simple reason is that your brain replays all of the activity of each Job every time it sees a receipt for that Job. Can you say "Ground Hog Day" over and over and over again? There are "No Stories, No Baggage." They are just numbers tied to a specific customer to us. Because of this, we can enter the transaction quickly. In that respect, Outsourced Accounting For Contractors Like You will free your mind to look for new jobs, focus on existing jobs, remember the previous jobs (good parts), and file the bad parts away for reference on what not to do; again in the same way. We Clean Up QuickBooks Files (Desktop Version). We Maintain QuickBooks Files For Contractors Like You All Across The USA, Including Alaska And Hawaii Some old, new, existing, and previous clients have never owned QuickBooks. With our system, it is not a requirement that our Clients own, review, or try to learn QuickBooks. Some clients want access to their QuickBooks file and are comfortable entering the customer invoice directly into the file. For those clients, we welcome their participation. We teach them how to use the Icon Bar to pull the reports that are important to them. We do the rest (entering the transactions from the receipts provided, bank statements, and credit card statements). What we NEVER DO is pay your bills for you. We touch your account (to auto receive our fees), but we do not pay bills, pay payroll, pay taxes, pay loans, pay credit cards. We never want any Government Agency to get the impression that we are decision-makers on whom you should pay, when you should pay, and how much you should pay. As our Client, you have the peace of mind that we will not do something improper with your money. It is your money. We are Paper Managers, a Production Shop. We want our clients to have lots of customers and make a profit on every Job. We want the numbers to add up nicely. We understand that you are always looking for the most efficient way to enter your data into QuickBooks to give you valuable reports at a reasonable price and services that benefit both sides. Are We The Most Expensive? No, We Try To Be Reasonable But We Are Not Free Free, Perfect, Now - the business model of Internet Search Engines. But even the Search Engines have figured out how to have "Add-On Fee-Based Sales" The world works better when everyone buys something from a cup of coffee, tools, and equipment to that brand new truck or movie and dinner with someone special. We welcome the following businesses: Brand New Contractor, Weekend Warrior, Handyman, Trade Contractor, Custom and Home Builders, Commercial Contractors, and other Construction Industry Professionals. I encourage Contractors and Owners like you to stay current on your tax obligations and offer insights on managing your remaining cash flow so you can put more money in the bank to operate and grow your Construction Company. Looking forward to helping your Contracting Company to be more successful! 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 464, And It's About Solutions To Reduce Debtor Days For Construction Business Owners   Steady, reliable cash flow is crucial for the survival of your construction business – so taking steps to ensure your customers pay promptly is a key priority.   Debtor days refer to the length of time it takes clients, on average, to pay you for the work you've done. A higher number of debtor days means clients take longer to pay you. A lower number of debtor days means clients take less time to pay you, which means there's more cash available for your business to use.    In the construction industry, debtor days can average as long as almost three months. Shortening that length can have a significant impact on your cash flow.   When your clients consistently pay on time, you'll avoid the dreaded "feast or famine" cycle. You'll be able to pay your vendors, suppliers, and employees on time, and, not least of all, yourself. Additionally, if clients start taking too long to pay you, you may leave money on the table in exchange for collecting anything at all.  Implement these nine tips to get paid without delay. 1. Provide payment terms upfront Before working with any new client, always provide your terms in writing. Clearly state your rates, due payment dates, and your policies regarding late payments – including any fees you'll charge on balances owing. Make sure your client signs the agreement indicating that they are aware of your terms and conditions. Don't work with any client who refuses to sign.  2. Understand your client's payment process Large clients may have lengthy payment processes that require invoice verification. They may also receive dozens, or even hundreds, of invoices regularly. As a result, their policy may be to pay invoices only on certain days or only after so many days have passed from receiving the invoice. If possible, submit your invoices with their payment cycle in mind. If they only pay on the 15 of the month, get your invoice in before that date so that you can get paid this month instead of following. Make sure your invoices have all the information your client needs to quickly and efficiently verify your invoice. Have a checklist of all the information to include so they can approve it without coming back to you with questions.  3. Invoice immediately Invoice as quickly as you can. Every day you wait to send an invoice is another day you'll wait to be paid. If your invoice is on completion of a project, have your invoice ready to go by the final day so that you can send it right away. If you're currently preparing your invoices manually, switch to an accounting system with automated billing. You'll never forget to invoice a client, and you'll eliminate errors. You'll also be able to see when the invoice was sent, whom it was sent to, and when they viewed the invoice.   4. Follow up on invoices Send an invoice reminder before payment is due. People forget about their invoices, or invoices get misplaced, and a simple reminder can go a long way to helping clients remember. Call your customer immediately when a payment is past due. Ask for the invoice status and anything you can do to speed up payment. Sometimes a simple change, like including a purchase order number on the invoice, can speed up processing times. 5. Reward early payers Consider offering clients a 2% discount when they pay their invoice within ten days. In this scenario, a $1000 invoice would be reduced to $980 – not a massive loss for you, but an attractive cash-saving incentive for your customers. It can be worth it if it frees up cash for your business.  6. Charge interest As part of your terms, specify that if a client's payment is past due, a weekly fee of 2% will be added to the total until funds are received in full. If the client goes past due, charge them interest. 7. Get paid upfront In our past construction business, one of our fail-proof strategies is OPM - Other People's Money. Collect a partial deposit – or the entire amount in total – before you begin a project.  8. Suspend service Stop your supply of products or services until you receive payment. With this tactic, you'll avoid accumulating an even more significant loss with a consistently late or non-paying client. 9. Stay on top of who owes you Monitor who owes you money and how much every week so you can act fast if a customer hasn't paid on time.  10. A construction bookkeeping system - bonus tip! Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over. Understanding your balance sheet and KPIs (Key Performance Indicators) will keep you in the right direction. As a reminder, billing your clients depends on your signed contract and sending invoices based on the details of this agreement. Preventing these errors will undoubtedly help speed up the process of getting paid and, more so, getting paid on time. If you don't know what to do or how to start, I recommend our Contractor Bookkeeping Review and Consultation. It is one of the most sought out services we provide and have helped many small construction business owners across the United States. I also offer a free phone or in-person consultation for an hour (you'll always know in advance anything more that will cost you money). Final thoughts Perhaps the most critical tip for encouraging prompt payment is excellent communication. Be clear on your terms and ensure you send out your invoices promptly. When you follow up on a late invoice, ask when you can expect payment and agree on a date. If the money still isn't forthcoming, consider your legal options. You may not want to resort to legal action, but it's essential to send a message to that non-paying client and others that you will take the necessary steps to ensure payment.  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. Call 1-800-361-1770 or [email protected]      

This Podcast Is Episode Number 463, And It's About Best Construction Employee Retention Secrets Revealed Most construction workers are good decent people who enjoy working with their hands making, building, repairing, remodeling, and fixing homes and commercial buildings.   Good construction workers will not tolerate chaos or unfair labor practices. They will try out many construction companies until they find a contractor with a system. Preferably with documented processes and procedures.   Desirable construction workers have these five traits in common: High Self Esteem Strong Work Ethic Always Learning Loyal To Family And Friends Law Abiding Citizen Traditionally, employers have relied on giving employees raises to retain their staff and reward them for being hard-working and loyal. Raises can get expensive, and there is often an upper limit for what you can offer to increase salaries and wages.  Keeping your employees happy makes business sense. You want to keep your good employees, and it costs money to find, hire and train new staff. Beyond that, satisfied construction workers who feel valued are more motivated and productive.  Here are some ways to keep your staff happy that don't rely on higher salaries: Offer flexible work arrangements Not everyone wants or can work a regular Monday to Friday from 9 to 5. Some people have family priorities or other commitments that keep them busy during normal business hours. If it makes sense for your construction business, consider flexible work arrangements for office staff, such as compressed workweeks (longer days in exchange for more days off), varied start and end times, or job-sharing arrangements. Remote work is another option that employees may want to take advantage of.  Not only will your in-office employees appreciate flexible work arrangements, your customers and clients may also benefit from your business having increased availability.  Pay for professional development Good construction workers want to improve their skills and grow professionally. Often, other priorities get in the way of upgrading skills. Paying for professional development, for example, having a fund people can access or bringing in experts to run workshops, shows your staff you care enough to invest in them. Meanwhile, your business benefits by having staff trained on the newest procedures and technologies.  Encourage work-life balance Employees want a fulfilling life, but it isn't easy to balance work life and home life. Having an employer that encourages a work-life balance makes it more accessible. Avoid messaging (texting, phoning, or emailing) employees after work hours and clarify that people enjoy their personal time. Encourage employees to take their sick leave and use their vacation days. Be a role model by striving for work-life balance yourself.  Be transparent Being open and honest with your workers fosters a sense of trust and belonging among your staff. Have regular meetings where you discuss your organization's goals, strengths, and challenges and receive input and feedback from your team. This encourages engagement and shows your workers that their perspective is valuable.  Having a set of values that applies to your staff Sometimes organizations create noble values that they apply to their customers, but they don't use them to their workers. Employees see clients and customers being treated well but wonder why those same values don't apply to them. Create a set of values that applies to your staff. Set out how you want your team to feel. Do you want them to feel valued? Supported? What does that look like in your organization? Ask your staff what they need It's challenging to come up with solutions that everyone will find meaningful. Ask your staff what would be valuable to them–and what would make them happy enough to stay. For example, they may be pleased with additional vacation days or more banked sick time. Listen to their suggestions and consider whether any of the options they mention could work for your organization.  The Master Keys To Having Employees: Focus on the products and services that serve your clients and make you money! Have a system to attract the right people and put them in the proper position to make you more money! Outsource everything that does not help acquire customers and satisfy their needs so that you can make even more money! Final thoughts With so much discussion about employees, payroll, and payroll taxes, you may feel that you miss out on not hiring many employees. The reality is that as a small business owner, you do not have to hire employees. Hiring or not hiring employees is one of the few optional things the business owner chooses, changes their mind, or changes direction as needed. However, depending on the size of your construction business, hiring and retaining employees might be necessary. While increasing salary is one thing you can do to keep your employees happy, consider the points I've stated that they may value that you can offer.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 462, And It's About How To Win Your Clients Back And The Secrets To Getting The Best Projects   Construction company owners - predominantly service-based businesses with monthly or yearly client subscriptions, likely deal with some level of customer churn, especially given the COVID-19 pandemic. Even customers who love your business and services may have lapsed for various reasons.    Whatever their reasons for leaving, it's still a great idea to win them back. Why? This is mainly because winning back a lost client still has a higher success rate than converting a prospect into a customer. After all, they've already hired your service once, so you don't have to convince them of the need. And you don't need to build brand awareness; they already know you exist.    Even if you can't win everyone back, those you can bring back to your business will affect your bottom line–and will do so at less expensive overall.   Here are some strategies to win back clients who have left: 1. Ask why they left You can learn a lot from customers simply by asking the right questions. The information you get may enable you to make some adjustments or start a conversation to win them back. For example, you may learn that your service is missing a vital feature that your competitors offer. Based on that, you may want to adjust your product or service.  Consider sending a survey to your customers to find out not only why they left, but why they chose you in the first place, and what you could do to win them back. These surveys can be sent when someone cancels their membership or goes a long time without hiring your company.  Ask questions like: Why did you decide to become our customer? What did you like most about our product/service? What circumstances caused you to leave our company? If you switched to a competitor, what made you choose them?  What could we do to earn back your business? 2. Identify people who are more likely to come back to you You won't win over every lapsed customer, but some are more likely to return to you. Those include people who left because of pricing rather than service issues, those who went without voicing any complaints, and those who referred you to others. Additionally, the clients who purchased the most from you were also likely delighted with you at some point and probably easier to sell to again.  This step is more straightforward if you have customer relationship management (CRM) software and follow your clients through their lifecycle.  3. Offer the right solutions Determine what you're willing to do to win them back and develop solutions that could address their reasons for leaving. For example, if you're ready to lower your price slightly or offer a special discount for returning customers, you can show that to lapsed clients. Consider that solution if you don't want to drop the price but can offer a premium service at no additional cost.  If customers say your service didn't have enough features, let them know you're upgrading your packages and invite their feedback on the changes you make. This allows them to know you heard their concerns and gets them invested in the final offer.  4. Know your churn rate Your churn rate is the percentage of people who stop using your service in a period. You determine the time (say, a week, a month, a quarter, or a year). Take the number of customers you lost in a time and divide by the number of customers you had at the start of that same period. Then, multiply that number by 100 to get the percentage.  If you have 500 customers at the start of the month and lose 10, you have a churn rate of 2%.  A lower churn rate indicates you have happy customers who love your brand and service. The Secret To Winning Bids And Getting The Best Projects  Not everyone seems to realize that in construction, money is not made in the field by working and pushing boundaries of tactical efforts - working harder and faster. Money is made in the office developing and implementing strategy.  For example, a backhoe takes longer and more skill to mobilize and demobilize on and off a job site than a shovel. Tactics mean using a shovel for all earth-moving projects. Strategy means knowing when to use a backhoe and a shovel. QuickBooks has over a hundred reports that can be viewed regularly. You could spend all of your time seeing a report in QuickBooks and trying to find a way to populate numbers in the report. Many reports are designed for specific things. Take, for example, the view of the Home Page. The feature on the Home Page in QuickBooks does not mean it is helpful for every contractor. It is not practical or recommended for the Small Contractor or Handyman to track inventory. For most contractors, the material goes from the supplier directly to the job, which is not the definition of inventory. Inventory is what goes into the warehouse and stays, and stays and stays.  Most contractors do not have the money to invest in inventory. Your supplier is just down the street. They have an on-demand list – what you need when you need it.  Plumbers, Electricians, and HVAC Contractors tend to have a certain amount of inventory, and it is better to do a physical inventory a couple of times a year (end of the year and maybe mid-point of the year and enter as bulk numbers). There are special programs that add to QuickBooks for those larger companies who need to track inventory. Most inventory programs only work with QuickBooks Enterprise. Trying to keep track of each item can be overwhelming and not practical for smaller jobs. If it is a Cost+ or Time and Material job, then be sure you only purchase what you need and assign that receipt to that specific job. Without a proper QuickBooks set up for your construction company, you: underbid projects earn little money often deal with unforeseen cash flow issues have no idea if your QuickBooks reports are reliable When QuickBooks is set up right for your contracting business, you can now oversee what you have tracked. What gets measured gets managed. One excellent way to do this is through contractors' Five Key Performance Indicators (KPIs). These reports are useful regardless of your company size. KPI is a benchmark to measure how your construction company is performing. The five reports you review at 5 PM for five minutes is the best approach and accounting practice you could do each day.  Final thoughts You can learn a lot from the customers who have left your business, both in terms of how you can win them back and how you can win over new clients. Take the time to survey them to find out why they left and what you could have done differently and make adjustments you feel are necessary.  Clean, easy-to-understand, reliable reports will streamline your accounting processes. Start identifying quality prospects and profitable projects and repeat the quality performances of your construction company. 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. Call 1-800-361-1770 or [email protected]      

This Podcast Is Episode Number 461, And It's About Construction Companies Who Fail Have One Thing In Common Every contractor who goes out of business has one thing in common, bad financial reports or none at all. Does this sound familiar? Contractor opens a business because they are so skilled at trade. With a small amount of cash, less than $10,000, a few credit cards with $5,000 available credit, they are off to the races. You tell friends and relatives about your new adventure and get lots of jobs. Of course, you wouldn't take advantage of friends or relatives at meager prices, would you? You open supplier charge accounts credit cards from Home Depot and Lowes. Your working capital increased by $20,000. "Wow, life is excellent! I should have done this a long time ago!" You were earning $25.00 an hour working for someone else. The contractor was charging $50.00 an hour for you. What a ripoff! You charge $30.00 an hour to be fair and undercut your competition. In six months, cash is gone, credit cards over the limit, and suppliers cut you off. What happened? You're an honest person doing good work at a price people can afford, and you're punished for it! Your reality check bounced! Outgo exceeded income. Friends and relatives asked you not to mark up parts over what you paid. Because doing so would be dishonest and unfair. They're on a "Budget"; someone needs to rescue them, so you paid the price. Let's run some numbers.  You make $5.00 an hour more than what you are worth as an employee. Payroll taxes on your labor run roughly 25%. $25.00 X 25% = $6.25 an hour. You are in the hole $1.25 an hour. Driving a truck of any kind costs $2.50 to $5.00 a mile. Divide by miles driven to get cost per mile. Add up truck payments, fuel, oil, car washes, insurance the rest of the expenses. I know because I see thousands of contractors' QuickBooks files. Bad Records = Bad Reports Picture this: a material receipt arrives at a lumber supplier's regular bookkeeper's desk. They open the QuickBooks contractor file, look up the supplier to determine how the previous lumber purchase was coded, and code the new transaction the same way. The problem is each transaction is unique and could go into any one of a dozen accounts or item codes depending upon whether it is a direct cost, indirect cost, WIP, retention, warranty, overhead, administrative, other costs, or simply an expense. The cumulative effect of these bookkeeping errors in one month can do enough damage to the financial and job cost reports to eventually bankrupt a contractor. For example, suppose the bookkeeper generates job costing reports that are off by 10%. In that case, it could cause the contractor to make radically different decisions based on what they believe about the job costing reports. If the contractor believes the company is undercharging, they may raise bid prices, lose jobs, eventually run out of cash and file bankruptcy. If the contractor believes the company is overcharging, they may lower bid prices, lose money on all jobs, eventually run out of cash and file bankruptcy. Many bookkeepers have lost their jobs and are freelancing as Jack-of-All-Trades and Master-of-None bookkeepers doing whatever work they can find, and I understand that everyone needs to eat. I would prefer they stay away from contractors and stick to regular bookkeeping like retail stores. The net result is more contractors are going out of business due to inadequate financial and job costing reports just when construction demand is growing. It is heartbreaking to see so much suffering due to incompetent bookkeepers, especially those with good intentions destroying the construction companies of the men and women who depend on them to take care of themselves and their families. Construction Company failure is always preceded by bad bookkeeping. Too often, contractors are led down the primrose path into bankruptcy and business failure by relying on inaccurate, false, misleading financial and job costing reports generated from their QuickBooks file. How do you know if you need to hire a construction bookkeeper? It's simple. If you don't fully understand the difference between a Balance Sheet, Profit and Loss, and Profit and Loss By Job, you need help. Still not convinced? You may need a construction accountant if: 1. You have a positive or negative balance in your Undeposited Funds account because it should always be $0.00. 2. You have trouble reconciling your bank and credit card statements "difference" to $0.00, so you click the "Reconcile Now" button and let QuickBooks post the unreconciled amount to "Reconciliation Discrepancies." 3. QuickBooks setup included "Inventory Items" and "Non-Inventory Items" to use when invoicing customers. QuickBooks inventory is exceptionally complicated, and it can distort all your financial job costing reports and cause you a HUGE TAX PROBLEM later on down the road. 4. QuickBooks setup mixed up expense accounts with vendor names or income accounts with customer names. 5. QuickBooks setup creates payees using the type "Other" because the person you're paying doesn't seem to be a "Vendor." 6. QuickBooks setup created a bank account for your personal checking account to record owner contributions and/or distributions. 7. QuickBooks setup Chart of Accounts has sub-accounts; however, transactions are posted to the primary accounts. 8. QuickBooks setup for "items" was linked to the wrong accounts in the Chart of Accounts. 9. QuickBooks setup did not add Credit Card account types and credit card statements are input using journal entries. 10. The last reason you might need a contractor's bookkeeping service that specializes in QuickBooks for contractors is you pull up your Profit and Loss report and think to yourself, "This doesn't look right." Final thoughts Bad bookkeepers are costly. The services a competent construction bookkeeper provides can help you financially in the long run. They also prevent a lot of headaches and save you valuable time.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 460, And It's About Different Skill Sets Of A Construction Company's Financial Team When you run your own business, it's tempting to take on every responsibility. There are many reasons for doing so: you want something done a specific way because you don't have the time to explain how to do it or because you're not sure someone else can handle the task.    Delegating saves you valuable time and energy. Sharing duties with your team also fosters a sense of responsibility, engages them, and helps them develop their skills.   What makes it so hard to delegate? 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 the variety of check cashing and payday loan outlets, their long-term time horizon has been replaced with now and right now! Construction company owners work in an intangible and imaginary world where nothing is real or solid. Nothing in this part of their world can be perceived with any of your five senses: Sight, Sound, Feel, Taste or Smell. Your long-term time horizon is between 30 days and one year, depending on the size and complexity of your construction projects. Construction company owners have to make 100's if not 1,000's of decisions every day with whatever limited information is available. As a construction company owner, you have to decide on Marketing Strategies, Accounting Strategies, and Production Strategies. The decision on which market to pursue is only the beginning. Once the decision has been made on which market to follow, you have to decide which subset of that market: New, Remodel, or Service & Repair. Each strategy needs very different construction workers, Caveman, Cowboy, and Shoe Salesman. Put the wrong worker in the wrong environment, and you could see for yourself what happens when a Bull gets loose in a china shop and it is not pretty! Here are six strategies to help you improve your delegation skills.  1. Know when to delegate You may have to begin by delegating small, low-stakes tasks, especially if delegation makes you uncomfortable. If you're like many people, you hold onto as many tasks as possible and only begin delegating once you feel too busy or worn out to take on another thing. It's good to get used to delegating before you become burned out, so you can more appropriately and effectively choose which tasks should be handed off to others.  Here are questions to ask before you delegate: Is it vital that you do the task yourself (be honest about this–do you have to be the person to take this on)? Is there someone else who has the relevant skills, experience, or interests to take it on? Is there someone else keen to do it? Do you have time to give detailed information about the task? Are you available to monitor progress? 2. Match the task to the appropriate person Often, construction business owners delegate a task by finding someone who has time to do it. Just as you have your strengths, so do your team members. When you charge, make sure to consider the person who is most suited to it based on their skills, level of knowledge or experience, and interests. Unless necessary, don't push someone into a task they have no experience or interest in.  3. Make sure the delegated individual understands what's being asked of them You may understand what needs to be done, but your team may not. Spend time with those involved to ensure they're on board as well. They need to know the goals or objectives, how the task is accomplished, what success looks like, and your expectations. 4. Communicate openly Leave room for your team members to come back with questions or concerns. Follow up with them yourself to see how they're progressing and what support they need. Address any challenges they have and celebrate their successes. If there are milestones or delivery deadlines, check periodically to ensure all activities are still on track.  5. Coach employees through barriers Where possible, avoid taking a task back. It's tempting to step in when they encounter an obstacle, especially when an activity is time-sensitive. Instead, coach your team members through their challenges. Make sure they have the support and knowledge needed to complete their task. Taking a task back prevents them from learning or growing. 6. Encourage feedback When you delegate, it's essential to follow up with constructive feedback that celebrates what worked well and provides insights for improvement. Be prepared to accept input. Your team might have ideas about how the activity could have gone more smoothly–perhaps with more thorough instructions or by delegating to someone else.  Delegating tasks to others is a great way to help them develop their skills and knowledge while taking responsibility off your hands. If delegation is difficult for you, it's worthwhile to consider what's holding you back and work to overcome your hesitations.  Final thoughts What would it be if you could only do one thing all day long that would contribute the most value? As a construction company owner, continue to upgrade your management skill sets and groom subordinates to replace yourself. It is important to do the work that you are worth. DO fewer things, get better and better at them, get exceptional results, delegate, and ignore all else. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 459, And It's About Improving Your Business Negotiation Skills As A Contractor Several aspects of the construction business can only be learned through experience. One of them is negotiating contracts.    Owning your business requires many skills, and among the most important might be the ability to manage negotiations. As a business owner, you could find yourself negotiating in many circumstances, such as:  Salary and job expectations with a potential employee  Financing terms with a lender Payment terms with a supplier Lease or property agreements Equipment agreements. Most people fear the negotiation process because it is an intrinsically uncomfortable process. Asking for more money or making personal demands doesn't come naturally to everyone. But with the right toolkit, you can breeze through contract negotiations. And you'd better get used to it because you'll have to handle many contracts whether you're a construction company owner or employee. Having the right mindset is critical to contract negotiations. You have to believe that you are going to get your way. Bring a positive attitude and a smile to the table. You're not signing contracts with the enemy. The people you're negotiating with will be your business partners in one capacity or another. Tips For Costing Out Jobs For small construction businesses, it's vital to appear as professional as your larger competitors whenever you communicate with clients, but especially when negotiating the details of a potential project. Be sure when you're preparing your quote or estimate that you include the following information: Your business number  Business contact info (phone, email, address) A detailed summary of the work to be performed A breakdown of costs (subcontractors, materials, time, and hourly cost for labor) The total cost A timeline for the work and completion date Contract terms, including deposit and payment schedule Another essential piece of information is to provide your clients when the quote or estimate expires. Many companies choose an expiry date of 30 days to protect themselves from the possibility of rising costs for materials or other factors that may influence the cost of the job. Your ability to negotiate will impact your financial situation, which is why it's a good idea to refine your skills. That way, you'll feel confident when discussion time comes around.  Here are four tips to improve your negotiation skills: 1. Be prepared One of the best things you can do to improve your skills is to be prepared for any negotiation. By being prepared, you'll be better able to negotiate beneficial agreement terms, and you'll identify when someone is offering you a great deal that you should take advantage of.  This means doing your research to understand the scenario you're negotiating in. Get to know what terms businesses like yours have agreed to, what other options you have available to you and how they'd stack up against the agreement you're considering.  Also, give thought to what you would consider a good agreement. Ask other people how they have handled similar negotiations. Finally, make sure you know what you'll do if talks fall through. It's easier to walk away from a negotiation if you know you have a backup plan in place.  2. Know what you're willing to give up  Before you go into the negotiations, it's crucial to not only know what you want but what you're willing to give up. Would you lose an investor, so you keep more shares in your company? Would you give up partial control of your company for more claims? Would you pay more money for additional storage space?  Understand what you're willing to give up and what you won't yield on.  Knowing what you will and won't give up on helps you stay focused and prevents you from making snap decisions that you ultimately wind up regretting. It also enables you to evaluate whether the deal is good for you and pushes you to keep the most important things.  3. Practice negotiating There are plenty of opportunities in your daily life to practice your negotiation skills in a low-stakes environment. You can practice negotiating where you want to eat for dinner, who has to do the chores, and what activities to participate in on the weekend. Use these situations to develop your listening skills and find a way to mutually beneficial terms.  4. Keep it conversational Negotiations are about both sides walking away feeling optimistic about the deal that has been reached. You don't want a negotiation to become adversarial. Remember that you are having a conversation to reach an agreement between all parties involved, and keep in mind that the negotiation isn't personal. You and the other parties both want to get something out of the agreement, and you likely both want the other side to come away happy as well.  Final Thoughts Negotiation is an integral part of business life. Ideally, you want to feel confident, relaxed and prepared to go into any negotiation. The best way to do so is to do your research, know what you want, practice your skills, and keep things conversational.  Offer a client the opportunity to ask questions before approving the work. That way, both parties can avoid any misunderstandings about expectations and project costs before the work begins.  Negotiating a contract is like a long chess game, except both parties need to come away from the table victorious. Before you begin the process, figure out your short and long-term goals. Having a clear vision will help you navigate the tricky waters of contract negotiation better. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 458, And It's About Different Skill Sets Of A Construction Company's Financial Team As your construction business grows, it's essential to have trusted financial professionals managing your books and providing strategic financial advice.    After all, the busier you get, the more complex financial management becomes - and the less time you'll have to maintain your books and try to make sense of all the data.    However, many construction business owners are not sure of the differences between a construction bookkeeper, a construction accountant, a financial planner, and a Certified Public Accountant (CPA) - or whether hiring one or all of them makes the most sense.   Keep in mind that each branch of accounting serves a different function similar to how it works in construction. There are framers, rough carpenters, and finish carpenters, and all three work with lumber, yet in most cases, the skill sets to do everything are rarely found in the same person.   An established, growth-focused construction company will employ the services of both an accountant and bookkeeper. The two professionals ensure that business financials are updated and accurate and that financial health is carefully monitored. If you're still in the early days of your business, you might choose to do the bookkeeping yourself or hire a bookkeeper for a couple of hours a month until it makes sense to bring someone on full time. An accountant, however, should be a key player on your team from day one. Construction Bookkeeper The primary role is to handle a company's day-to-day financial management. A bookkeeper will take care of the small but essential details necessary for providing an accurate picture of where a business stands at any given moment.  In addition to a bookkeeper's main job – making sure every financial transaction is accurately recorded in the general ledger – they may also hand over other critical tasks like invoicing, paying suppliers and vendors, and processing payroll.  Ideally, a construction company's books are updated at the end of each business day, so you always have an accurate account of your sales, expenses, and the bottom line. However, if your business is still in its early stages, without much financial activity or the funds to hire a bookkeeper, you should aim to reconcile your accounts at least once a week. Construction Accountant Your accountant is responsible for keeping accurate financial records, making summaries, and undertaking analyses of your financial transactions. Depending on their role or specialty, they may also undertake auditing, inventory accounting, and economic forecasting.  They'll also help ensure your business is compliant with tax regulations and may advise you on critical financial issues related to your construction business, such as decreasing costs, setting prices or wages, managing expenses, and budgeting. Additionally, they can help you determine the best way to set up your business, how to increase your returns after-tax, and how to grow your construction company. Further areas accountants can help you include Payroll Lowering your tax burden Preparing business plans Forensic accounting Selling, buying, or merging a business Financial planner Financial planners advise you on your wealth management. Typically, they are specialists in tax planning, managing your portfolio, or retirement planning. They may also advise you on solving your debt or building your long-term wealth.  People who have specific financial goals in mind can turn to a financial planner to develop the best path forward to achieve those goals and improve their financial wellbeing.  Specifically, financial planners can help you with Philanthropic strategies Retirement planning Investing Estate planning Budgeting Inheritance tax planning Cash flow modeling Portfolio construction. Certified Public Accountant  The CPA's primary function is to prepare the annual tax return, perform audits, and prepare Certified Financial Statements for bank loans when a construction contractor requires them before issuing a construction bond. Keep in mind that most Certified Public Accountant accounting specialists can do all accounting for most standard businesses that only need regular accounting but not construction accounting. Construction company owners who think it's costly to hire a construction accountant and would instead only seek a CPA's help might be in for more business damage in the long run. Which services do you need and when? If you run a construction business, it's a good idea to have a construction bookkeeper for your bookkeeping and a CPA for your tax needs. A construction accountant and a financial planner on your team will also help set you up for success, lessen your risks and develop strategies to enable you to thrive financially. Often, accountants will know of good financial planners to bring onto your team, and vice versa.  If you feel you can only hire one, that one will be based on your specific needs. If you're working towards long-term wealth or other financial goals, considering investing, or concerned about setting up your estate, talk to a financial planner. If your needs have more to do with running a business, daily transactional economic activities, or dealing with your taxes, a construction accounting specialist can help you.  Develop relationships In an ideal situation, you'd have both a construction accountant and a financial planner on your team. Keep in mind that to help you to their best abilities, they need to know you, your plans, and your challenges. By developing a solid relationship with both and being open and transparent about your financial situation and any issues you face, you can better enable both to help guide you toward success. Final thoughts When it comes to managing your finances, these professionals can help you understand your numbers and ensure you have a plan to get to where you want to be. They all play an essential role in your financial success. There are areas where they are similar, of course, as they can help you determine if your financial plans are feasible and can provide you with important strategies for managing your money. And while they can both advise you, neither can make decisions for you.  A trustworthy bookkeeper's services are essential for a thriving business, and hiring an accountant specializing in the construction industry can do so much more than handle your taxes. Think of your accountant as a trusted business partner - someone whose services you rely on year-round for advice on how to increase profitability as you take steps to achieve your business goals.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 457, And It's About 5 Steps To Setting Up Your Construction Business Processes For Success When a business starts, it’s natural for the owner to be a jack-of-all-trades. You may not have the capital to hire specialists or access the technology to help you. As your business grows–or as you look to take a minor role in your construction company–you may find the industry has become over-reliant on you, which makes it difficult for you to take a step back.  Have you M.A.P.ped your business yet? Consider this before retreating and delegating: Marketing - never sells more than Production can provide; on-time and on-budget Accounting - manages the money to maintain operations and produce a reasonable profit Production - delivers the project intending to exceed customer expectations As you know, we are big on Marketing, Accounting, and Production; having a basic operation manual in place for your office, remote, and field employees pays off in the long run. Now, here are some steps you can take to enable your business to thrive, even if you can’t be there all the time.  1. Review workflows Have someone interview everyone in the company to find out their job and how they fulfill their to-dos. Look at their processes to see if there are ways to make their tasks more efficient and seamless–you could even look at best practices in other companies to see how they manage their tasks.  The goal here is to make processes as efficient and straightforward as possible. Take out any unnecessary steps and ensure each operation only involves vital tasks to successful completion.  2. Automate what you can Look at activities carried out regularly and investigate whether software exists to make that process easier for you. Often in the construction business, people continue doing a task inefficiently simply because they got used to doing it that way. That can lead to hours being spent in activities that could be automated.  For example, if your staff spends hours each day updating your customer database, it’s worth looking into customer relationship management (CRM) software, which automatically takes care of that for you, saving you time and reducing the risk of errors. Likewise, if you or your team spends time following up on unpaid invoices, consider an online invoicing system that automatically sends out overdue notices.  3. Document the processes Write the processes out once you know how people carry out their responsibilities and have identified ways to improve or automate them. If possible, keep the documents digital to be updated as your business evolves so everyone can easily find them. If you’ve purchased software to automate processes, make sure everyone who would use the software knows how to access it and can do so easily.  Finally, ensure the documents are stored somewhere safe and accessible for your staff. You could use Google Docs or software designed to help with business process management.  4. Train your staff Now is the time to train your team in your optimal workflows. Ideally, you’ll have a couple of people prepared to cover each area of your business, so if one is ill or unable to work for a while, someone else can easily step in to carry out those responsibilities. Ensure everyone has read and understood the documented processes and knows how to access and use any software or technology you’ve purchased.  5. Make your business self-reliant. You want your construction business to function without you, so it still thrives if you become ill, need a vacation, or otherwise can’t work for a while. Examine your processes for areas where the company is still overly reliant on you and look for ways to foster self-reliance. This may mean identifying gaps in your employees’ expertise and hiring people with complementary skills, finding new ways to automate workflows, working with consultants and outside service providers or subcontractors to fill in gaps, or creating an FAQ document where questions you’re commonly asked are answered. Final Thoughts The key to peace of mind and a reasonable profit in any firm is a strategic management system that orchestrates Marketing, Accounting, and Production to work together to produce predictable results (Download our free toolkit). As your business grows and you step away, you’ll need to ensure you have staff who can take over various activities. Reviewing and documenting your processes, automating what you can, and identifying areas where your construction business is overly reliant on you will set you up for success.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 456, And It's About Managing Generational Diversity In Construction Workplace Every manager has habits that make them effective. Managing contractors doesn't just mean scheduling them and making sure they're progressing on the project, but also knowing how to address workplace matters proactively - for one, the growing generational differences among their peers to communicate effectively and boost productivity. These days, it's inevitable that a diverse group of older and younger workers cross paths in the construction industry. After all, the young, tech-savvy, socially conscious Gen Y (Millennials) and Gen Z are currently the largest living generation in the U.S., navigating the workforce in record numbers. And the boomers may be retirement age, but that doesn't mean they're ready to stop working. Many baby boomers choose to enjoy "encore careers" – jobs that allow them to continue applying their skills and experience to personally meaningful projects. Here are a few ways to help these two groups work together so your construction business benefits from their unique and complementary skills.  Baby boomers and millennials in the construction business Millennials offer incredible potential to the companies they work for. Young, tech-savvy, and interested in making a difference globally, Gen Y only lacks one key trait: experience. On the other hand, Boomers know how the business world works, and many enjoy sharing their knowledge with younger colleagues.  However, unlike millennials, they may be "stuck" doing things less efficiently simply because they don't adapt quickly to new technologies.  With their distinctive skill sets, pairing up a young worker with an older employee can be mutually rewarding – and highly beneficial – if you know how to manage the relationship. Partners – not proteges Trust is the foundation of every good working relationship. Building trust among your younger and older workers can mean establishing a very different work dynamic than your more former employees may be used to.  To keep clear of tension, avoid creating hierarchies at work. No one is the boss; everyone is there to exchange knowledge and experience. Even in a mentor-mentee relationship, each person must see themselves as equal. That way, when someone doesn't know something, there's no reason to feel embarrassed. Communication is key Being digital natives, Millennials may prefer communicating with tweets, texts, and instant messages; Boomers, on the other hand, will likely make a phone call or send an email.  Moreover, older generations may use a more formal approach to communicating at work, particularly with management. They may interpret a more casual communication style – common among their Gen Y peers – as a lack of respect. You can help bridge gaps in communication with weekly staff meetings. You might even consider creating a communication policy: group emails for urgent matters that affect everyone and the communicator's preferred form of communication for other issues.  Successful Construction Companies' Employees Produce Results Excellent contractors understand quality, scope, and time regardless of generational differences. They are willing to work efficiently. When you have a Business Strategy, everything changes your life and your construction company because you will see everything differently. Your thinking patterns and what you think about the most are why you are where you are now. It is worth noting that there is no profit in chaos, and the sooner you understand that the better off you will be, including your mental and physical health. It may be too late to recoup past losses from chaos, but it is not too late to stop it from happening again. To begin with, get a clear understanding of What Ten Minutes Costs Your Contracting Company and start implementing a Business Strategy to eliminate chaos. Final thoughts While you can't necessarily influence how well any two employees work together – after all, there's more to any working dynamic than generational tendencies – an awareness of how your staff works best and an attitude of flexibility can make a huge difference.  Find ways to support your employees as they nurture each other's growth. When it comes to problem-solving, encourage your boomer staffers to help younger workers understand the reasons behind their decisions with examples based on their experience. Likewise, millennial staff should think about the best ways to teach their older colleagues, who are less comfortable with technology, to use a new web tool or software. With these tips in mind, you'll be on your way to nurturing the skills and talents of all your workers – and creating a harmonious atmosphere for everyone. 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. Call 1-800-361-1770 or [email protected]   The daily processes and transactions involved in operating a general maintenance and repair contracting business can mean long hours of repetitive tasks and occasional oversights due to human nature. These days, you can use technology to take care of almost any issue facing your business. Automating these tasks can result in significant savings in resources and eliminate mistakes caused by human error. The key, however, is to know which tasks should be automated and which ones warrant staff intervention and guidance. Let's discuss some of them:  

This Podcast Is Episode Number 455, And It's About How To Leverage Automation And Technology In Your Construction Business The daily processes and transactions involved in operating a general maintenance and repair contracting business can mean long hours of repetitive tasks and occasional oversights due to human nature. These days, you can use technology to take care of almost any issue facing your business. Automating these tasks can result in significant savings in resources and eliminate mistakes caused by human error. The key, however, is to know which tasks should be automated and which ones warrant staff intervention and guidance. Let's discuss some of them:   Lead Capturing, Nurturing, and Scoring Automating your lead development process can do wonders for your service-based company's conversion rates. Both hot and cold leads require attention and targeted engagement to convert into paying customers. Using automation software can help sales reps guide prospects to end the sales cycle strategically, and it can also direct you towards the leads that will convert the fastest. Engaging New Contacts Entrepreneurs like you meet new contacts all the time. Whether a potential business partner or prospective client, automating your engagement with them can help you forge a solid rapport after your initial contact, several CRM options will allow you to group contacts by event, type, company, and location, amongst other settings, to ensure that your business card collections don't go to waste. Personal Direct Mail  Outreach efforts with a personal touch garner higher engagement rates, which explains why businesses send out birthday cards, calendars, seasonal greetings, and other materials to customers. With the right software, you can set up automated, sequenced events to gather personal data and incorporate it into specific marketing activities. Word-of-mouth marketing   Numerous marketing studies show that consumers are more likely to buy from companies or hire services if a friend has referred them. Encourage customers to give referrals by simply asking for them. There are several ways to automate this, including adding referral mentions to discount offerings, a website page, and email outreach campaigns. Automation can be a wonderful thing. However, it does not work without monitoring most of the time and is not exactly as expected or promised by the sales department. The software can be challenging, and depending on what it is, it takes Tech Support to fix it. Tier 1, Tier 2, Developers - "namely anyone but me." A remote assist is a beautiful tool – the technician can see for themselves that you are or not playing with imaginary friends hiding in your computer. Many Tier 1 support need to document that they could not solve the problem and justify sending you to Tier 2. A contractor called me recently and said it was required to keep an Online Software because they had linked their banking and several apps to the software. These apps are downloaded automatically daily; no matter what, that was a must. It would take too much time to do anything manually. My take: Why exactly are you calling me? It sounds like everything is working perfectly! It wasn't working perfectly. Yes, everything was downloading automatically into the file. Yes, transactions were going to where that specified software specified. Yes, the software decided and did not care about what other software was doing. So what exactly was the problem? The contractor wanted all the apps to download transactions and that no one in the office needed to touch anything. It would magically create accurate reports seamlessly. After each of the third-party software decided what and where to put everything, the result was: Reports that were not understandable. So far out of whack that anyone who looks could see. Bank accounts were overdrawn by 5 and 6 figures (more than $10,000 to over $100,000). Credit card payments to the same bank became multiple vendors. The Word "MESS" did not begin to describe the results. I am all about automation. Managed automation is when transactions go where I expect them to go. I know that each one of the applications chosen had a valuable purpose. Hopefully, the decision was based on more than the sync function. But if that is the essential thing – Good Luck! Choosing the individual third-party software is always best based on the benefits. You are not getting it because it links with this but does not do what you need. I always suggest determining if the app Is useful as a Stand-Alone Product. Determine who in the company needs it (and will use it): Office Field Estimator Project Manager Again, the key is in the setup (what do you want to know). No program does everything. In most cases, we recommend an online version of the software, which is quickly updated over the desktop version in a box. My only exception is QuickBooks Desktop Software (Get the box with CD). Estimating and Invoice Programs. Features that are available in the latest 3rd Party Apps. Estimates - Can you email the estimate to the prospect? Invoice – Can you accept payment from a link? Change Orders – Can your client approve from a link? Payments – Can you accept job deposits? Pictures – Can you send pictures? Price Book – Can you create one? Flat Rate Pricing – Is this an option? Hourly Rates – Can you do this? My Question To You: What 3rd Party Software do you find useful in your business? Everyone can benefit from the ones that are easy to use and work with. If you have a task that you don't like to do, there's an app or software program to take care of it for you. It might take a few moments of your time to learn and understand how the software or app works, but doing so will save you valuable time and precious energy. It will also free you up to spend time on the tasks you love to do, not on all the paperwork and record-keeping that go along with running a business.  In conclusion There's no question that these apps and software platforms can make construction business owners' lives easier. Choosing a product that meets your company's needs will free up time and energy to focus on the things you love to do. Set aside a week or two to look at any processes that can be automated within your business. Automating repetitive and tedious tasks can aid you in uncovering hidden cost-savers and potential sales opportunities for your General Maintenance And Repair Service Company. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 454, And It's About The Treatment To Your Construction Bookkeeping Symptoms Most contractors are skilled technicians who learned their tradecraft in an apprenticeship program taught by a Master Technician, experience, or combination of these methods.    There is a way to learn to operate your contracting company from a Master Contractor.   With time, they developed a Paradigm, Mindset, Understanding, whatever word makes the most sense to you about how construction companies operate based upon their experiences.   In their experience, production, getting work done is the most important part of the business because they always do as employees.    Since all learning is based upon connecting new things to things we already understand, most contractors fall into the trap of only doing what they know and not learning what they don't know.   Getting to own and operate a successful construction company is similar to understanding a construction trade. There are only two ways to do it. Self-taught and learning the ropes from someone who has already mastered the skill. Self-taught means making a lot of the same mistakes over and over, and it takes a long time. Learning from a master is much faster and allows the student to go beyond the teachings of the master and have even greater success. In the best-case scenario, the student becomes a master and then continues the relationship with their master as colleagues, and both people form what Napoleon Hill referred to as a Master Mind, and together the two of them become even more skilled than they would if they continued working independently. Taken to the next level, more masters are invited to become a part of the Master Mind Group, and the net result is the "Rising Tide Raises All Ships," and everyone achieves more individual wealth in money, friendships, and long-term relationships than anyone could have possibly imagined. We've been where you are now - owning and operating a construction company. We are also honored to become a part of a Master Mind group. That's why we understand successful Construction Company Owners share these similar traits: They have been through the fire of operating a tricky business, hiring staff, and making payroll They have high driver personality types with control issues They are impatient and want everything done not now but right now They are passionate about serving the right customers and clients They are committed to providing the best possible experience for their customers and clients They are committed to making their company the best it can be They are passionate about controlled and sustainable growth for their company They focus on their core business and outsource everything possible Now, Are You Experiencing Any Of These "Symptoms" In Your Company? Overwhelmed by construction accounting and bookkeeping Confused about how to enter transactions into QuickBooks or whatever accounting system you are using Anxious about Quarterly Payroll Tax Returns / Sales Tax Returns / Workers Comp Tax Returns Frustrated with your accountant because they do not understand how construction works Unsure about whether to hire a bookkeeper or a bookkeeping services firm Baffled by webinars for QuickBooks setup that don't apply to construction Confuse about payroll and dislike employee paperwork (you could be an employee of your company and don't know how to pay yourself) And then How to Systematize it all into a contracting company that runs smoothly without you having to make decisions and solve problems constantly If you answered a solid "Yes, I'm currently experiencing that" two or more times, as you reflected on the statements above, perhaps it's time to ask yourself these two questions: 1. Is there somebody else who can do this job better, faster, and cheaper than I can? 2. Am I saving a nickel (doing a mundane task) and spending a $5.00 bill (me doing something more productive)? It's the new year, excellent timing to stop figuring things out and start delegating your tasks while being cautious and proactive. Understand that the most invested person in your business is you as the construction company owner. It is by exception that the most dedicated employee will have the same intensity as you do about your business. The additional energy to "Get The Job Done" is yours because the company is yours. That's why we are here to help. Every year we make improvements to our business. We do not try to do it all because we help you depending on your company's needs. We could be that "somebody" for you. Instead of a quick band-aid solution, the treatment to your construction bookkeeping "symptoms" could be the clarity and insight you would get from a free consultation - take advantage by getting yours scheduled as soon as possible. (Technology is everywhere. Email is more excellent than faxing documents everywhere. On occasion, I will email a client late at night or early morning to be sure they know something before their day starts. I am a phone person, but I would never call or answer the phone during those odd hours) I am looking forward to chatting about how we can help you. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 453, And It's About Construction Industry Insights For 2022 There is a natural ebb and flow in the business cycle, which in regular times operates, somewhat predictable.   In normal times, contractors who pay close attention to their Five Key Performance Indicators financial reports and stay aware of the macro global economy and the microlocal economy can plan and earn an expected profit after paying themselves a reasonable salary.   The past two years have been anything but ordinary, and frankly, we are having a tough time with the economic forecasts models we follow, including our internal ones.   Something similar occurred from 1976 to 1980, and suddenly in early 1981, the national and global economy began to turn around, and there was a severe shortage of contractors and qualified construction workers.   During the remainder of that expansion and boom cycle, many construction company owners made substantially high profits, and the wise ones who thought ahead invested their windfall profits in real estate, stocks, and other investment vehicles. The good news is the Universe is always in balance, and we could be nearing the beginning of a period of massive expansion, the likes of which we had not witnessed since the end of World War II when the housing boom was explosive for the next 20 years. Pent-Up Demand For Construction Projects 1. Deferred maintenance. Due to the lack of cash flow, many commercial property owners have been putting off sealing parking lots, painting, renovating, and other general maintenance projects.  2. Drive the neighborhoods in your cities and towns all across the USA, Alaska, and Hawaii and see for yourself how many houses have weathered "Blue Tarps" covering portions of the roofs which are leaking and need repair. If the homeowner has trouble putting food on the table, then a new roof is not a high priority. 3. In the evening hours, drive the residential neighborhoods in your target market and notice how many cars are parked in the driveways and surrounding areas. This indicates that many people rent out rooms to help make their mortgage payments. 4. Visit the home improvement stores and observe the shift from nine months ago when there were lots of lost and frustrated homeowners roaming the aisles searching for materials and tools for do-it-yourself projects, and now there is an increasing number of contractors and handymen. When you have a clearly defined and documented Business Strategy, you will know what steps to take and when. Just like when you took a test in school in your favorite subject, it was fast and easy! When you know the answers, the questions will not bother you! When the economy is expanding, demand for construction rapidly and almost overnight outstrips supply because many contractors gave up and left the industry. Well-intentioned yet unseasoned contractors seize the opportunity to rapidly grow their businesses by haphazardly bidding and winning projects without considering calculating their company Expansion Path Isoquants, infrastructure, logistical support, working capital requirements, Job Costs, or Key Performance Indicators (KPI). The Inevitable Chaos - Caused by too much work and not enough labor, material, other costs, and subcontractors (LMOS) leads to the contractor becoming a pipe through which money flows with increasing velocity and not in a fun way. This is the leading cause for large contractors going bankrupt. The construction company starts small; the owner is a visionary who understands the "Tangible" side of the business. They know how to bid, sell, produce and manage the company as it grows to roughly $5,000,000 in annual sales without having a clearly defined Business Process Management System or Strategy. When they take their business to the next level, not having a strategy or, as I refer to it, the "Intangible" side of the management equation, they often end up going bankrupt, several times in most cases, before hiring us or someone else to help them put together a strategy that includes the "3 P's" Processes, Procedures, and Policies. It has been said, "The same law that binds the ignorant frees the wise." A new mindset leads to a new result. Prepare by being proactive - invest time and money getting your Business Process Management systems in place using The 80/20 Rule to grab a nice big thick slice of Market Share Pie and laugh all the way to the bank. Final thoughts  I sincerely understand and empathize with the challenges that all construction owners, workers, and support staff have faced for the past several years. The good news is that everything will change for the better. Hang on through this invisible global threat and be patient.  Also, if you're new to our website or blog, you can check out our new Contractor Success MAP Toolkit - it's more than 15 pages of Marketing, Accounting, and Production tips, checklists, and best practices that you can use year-round for your construction business success. Free download here. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 452, And It's About Last-Minute Reminders Before The New Year Countdown It’s been another excellent year for Fast Easy Accounting. We appreciate your support for those of you who have been with us through all these years; without our contractor clients, template customers, construction accounting academy students, email subscribers, podcast listeners, blog readers, and social media followers, we wouldn’t get to where we are today.   As we look back on our 2021, I hope your fondest memories will include the time you’ve spent with all the things you love and are passionate about. And because we love what we do and we are passionate about serving our contractor friends - for us, this year was all about empowering your contracting business by continually providing you with outstanding products, high-quality services, and dependable resources for your bookkeeping and accounting needs.   Year-End Review: Time flies when everyone is busy. Start now - review your records for the following items: Missing Federal Tax ID’s and requesting the W-9. Have all your employees verify their pay stubs for the correct address. Check Apartment numbers and zip codes. Have any of the neighborhoods been annexed into the city? Year-End Accounting Clean Up Your Tax Accountant will be sending your booklet with what they want for records.  What are the loose odds and ends missing for this year? Do you have a formal Accounting System? Do you need to clean up the Accounting beyond the last couple of months?  Do you have bank statements?  Can you find all your receipts? Tax Accountants do “workarounds” to file your annual taxes. At some point, the Tax Accountant may refuse to clean up and deal with the Lack of Good Records or Messy Records. As the economy improves, tax accountants will have more clients who want their taxes done.  Helpful Reminders: Be mindful of the paperwork that must be stamped on or before December 31st (today). Payroll – Did you take any personal payroll (S-Corp)? If not, it may impact your personal deductions.  IRA - 401K - Making those final payments before midnight on December 31. (Do not wait until 11:59 PM) Some plans allow you to make payments until April 15th (double-check the dates– do not assume) Income – Getting one last customer invoice and receiving the payment - last-minute purchases to count on 2021 taxes (expenses or larger item which qualifies for depreciation) Do not expect to be able to file your annual taxes on January 1st (tomorrow). Visit https://www.irs.gov/ for the official 2022 Filing Season Start Date. Prepare W-2s and pass them out as soon as possible - remember to keep a copy. W-2’s and 1099’s have a deadline of January 31st to be mailed out to your employees and 1099 contractors. Be proactive and send out W-9’s as soon as possible, thereby asking for a Federal Tax ID or Social Security Number now. Think about your company tax filing status. I recommend changing from a Sole Prop to an S-Corp. Setting up an S-Corp is done with the Secretary of State in your state. Note, a few states only accept forms from a third-party service.  If you are currently an LLC, I recommend becoming an S-Corp. If not, change your tax filing status to be treated as an S-Corp. The form needed from the IRS is Form 2553. Unlike many State Agencies, the IRS does not charge to file their forms. You are asking the IRS to change how your company is treated. Why is this important? Because the IRS will only accept the form for the current year in January – February (pushing the deadline to March 15th is risky), the approval will be for the next year (starting in January 2023) instead of January 2022. Late Penalties to State and Federal Government Agencies are increasing, and they are looking back at filing dates of past returns for additional fees. It’s costly to borrow money from the government. If you need it, it never hurts to ask for a payment plan.  Rule of Thumb When Asking: Be Nice, Be Polite. Ask for a payment plan to be extended for as long as possible and with as low as possible payments. Sometimes no matter how you ask – the person you are talking to is not helpful, but usually, if it is within the rules, they will help you out. It all gets down to Time | Scope | Money A good tax accountant can do Many Simple or Less Complicated Returns in the same amount of time it takes to do a Messy, Complex Business Return. More Tax Returns become more Complex than is necessary because the documents or lack of records make it messy and hard to deal with.  Your Reason To Turn It All Over To The Tax Accountant It’s cheaper to have the Tax Accountant do it than hire a Bookkeeping Service, and I don’t want to do it myself because it’s Hard.  Yes - The Tax Accountant can and maybe will do a workaround that is just enough to do the taxes. If you are missing 5%, 10%, 15%, or even more, the tax accountant will use what you provided, and it will be by exception; your tax accountant will ask for missing documents or even notice they are missing. A tax accountant will assume you gave them everything you had. In reality, you gave The Tax Accountant only what You thought The Tax Accountant needed versus all of the records that might save you additional money in taxes.  A sound accounting system will help you make better decisions on what to buy and what type of jobs to accept. When did you afford to take payment plans from your clients? When is the need or ability to raise your prices? Only you can decide if the lack of good records was worth the low price. Happy New Year – 2022 is just around the corner - Are you Ready? 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 451, And It's About What Is Your Contractor Superpower? As a Construction Contractor, much of your world is Outside The Box. You make what seems impossible and turn it into a finished product; the whole house remodel, kitchen or bath remodel, new roof, install an attic fan, replace windows, deck, patio, hot tub, swimming pool, children's backyard playhouse.    The Handyman Contractor fixes "Things," which are very important to the clients who need them—fixing a door, hanging a closet rod, moving something, removing something. Compared to a Whole House Remodel, it may seem like you are not doing anything. The reality is that to the person who needed the work done that a few simple little things may change their whole world for the better. Your Work as a Handyman Contractor brings joy to their life. Be Proud of it. No job is insignificant, and no construction business is too small for us.   I want to be the person who says Merry Christmas! You have earned it.    It's the holiday season which means everyone is busy thinking of everyone else. Wrapping up the end of the year, getting one more thing done that makes sense. Many Holiday movies are variations of "Scrooge" based on "This Is Good" and "That Is Bad." Anyone who has not had any challenges in life has been either extremely lucky or in a very protected bubble.  Life Happens. Challenges Happen - some good, some bad depending on the perception of the event. We can all look back and see what we might have done differently. The question is: Did we make a decision? Did that decision seem to be the best decision to make based on the information on hand at that time? If you and I make a thoughtful decision (not a knee-jerk reaction), then it is a good decision. Sometimes we think - I should have, could have, if and only, but, because and [fill in the blank]. These are negative thoughts that are not useful. All negative thoughts drag you down into a wrong mental place. I offer The Serenity Prayer As A Beacon Of Truth:  God grant me the serenity to accept the things I cannot change; courage to change the things I can; and wisdom to know the difference. Between religions, the name of God may change; however, from my viewpoint, the message of the prayer is the same all over the world, no matter the religion. The key is that you have a choice to believe, what you want to believe, and how to practice your faith. The sun rises and sets for each one of us every day. Embrace Life Enjoy The Day – Moment By Moment. Do Something Fun. Watch The Sunset. Listen To The Birds Sing. Hear A Train Whistle. Rejoice in the laughter of children, for they are embracing their world with complete abandonment at that moment. Smile. Think happy thoughts. The simplest things are free. Every day, everyone can find a reason to be frustrated if they are looking from that particular view. The other driver is driving too slow, too fast, recklessly, music is too loud, passing out hand gestures, honking their horn, on their cell phone, texting, car issues of smoke from the tailpipe, car smells, bad tires, no headlights. The list of things to be annoyed about is endless; no one is exempt. While we are annoyed, there is nothing more dangerous than someone crossing the middle of the street, at night, wearing all dark clothes, either being clueless of the danger or playing chicken with cars. Drivers, everywhere at some point during the day or nighttime hours, will see it happen repeatedly. It used to be when we heard someone who appeared to be talking to themselves that they were (to put it politely) a little troubled in the head (an old-fashioned saying). Now with cell phones and wireless headsets or earpieces, it is a little harder to pick out the people who appear to be talking to invisible friends. What is your Contractor Superpower? The power of choice.  Increase your pricing Which projects do you say YES to Collect job deposits Ask the client for money Your working hours The area of the country where you want to live You have the power to choose what is best for you, your loved ones, and your construction company. It is easy to listen to the news and become depressed, agitated, or think the day's challenges are hopeless to overcome. Mother Teresa (of Calcutta) said it best: We, the willing, led by the unknowing, are doing the impossible for the ungrateful. We have done so much, with so little, for so long, we are now qualified to do anything with nothing. Life is a journey that happens one day at a time, one decision at a time, one choice at a time. Tomorrow is a new day with every potential of being happier if we allow it. We will continue empowering and advocating for contractors and construction business owners like you. Wishing you a Very Merry Christmas! 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 450, And It's About Four Practical Reasons To Switch To Cloud-Based Accounting If you've been considering making a move to a cloud-based accounting system, you're not alone. Cloud technology has impacted many business functions, including efficiently managing your business's financial aspects.   Cloud-based accounting moves your accounting from being hosted on your computer's hard drive to an online platform. Cloud-based platforms like QuickBooks and Xero offer important features that save you time and money, freeing you to focus on other essential construction business activities.     Here are four reasons to switch to a cloud-based accounting system.  1. Efficient invoicing If your business relies heavily on invoicing, an online accounting system like QuickBooks or Xero makes invoicing incredibly efficient. You can email invoices to clients directly through your software and track how long it's been since the invoice went out.  Clients pay you through a link attached to the invoice, making the payment process easier for them, which increases the likelihood they'll pay you sooner. If they pay through the system, your platform will automatically mark the invoice as paid. If their payment is late, the system alerts you.  Further, you can set up your software to send automatic reminders about late payments. Taxes are automatically calculated for you, and you can set up recurring invoices and retainers to further automate your invoicing.   2. Paperless accounting Managing your accounting through a cloud-based system enables you to move away from paper accounting. You don't have to worry about where or how to store years of paperwork and files because everything is securely stored in the cloud. Likewise, you don't have to go through boxes of files to find a receipt from two years ago; you can simply access the information through your computer.  It's easy for you to share your records with your accountant, bookkeeper, or anyone else who may need to collaborate on your finances. You don't have to mail them physical copies of your financial transactions and statements; you can email them the information or give them access to your software.   3. Accessibility With a cloud-based accounting system like QuickBooks or Xero, you don't have to be in the office in front of your computer to access your financial information. You can see your ledgers and reports from anywhere, on any device. If you want to work from home one day or at your job site the next, you can log in to your software from your smartphone to send invoices, check your reports, or manage expenses.  4. Accurate reporting A critical component of running your construction business is reporting. Accurate reporting enables you to manage your finances better and understand your profitability. It's vital for making informed decisions about your business. Cloud accounting provides you with accurate reporting at the click of a button. Using systems like QuickBooks or Xero, you can easily access profitability reports, income and expense reports, and year-end reports.  The information is available to you automatically--you don't have to spend hours in front of a calculator going through every invoice to see your numbers. Simply by keeping your records in a cloud-based system, you can quickly generate accurate reports.  Which QuickBooks remote access option is best for contractors like you? We recommend QuickBooks online when your company is run like a hobby you do not need full QuickBooks your sole focus is saving money basic simple reports are all you need you have three employees or less you enjoy doing everything yourself you have a lot of time to learn a software We recommend QuickBooks Desktop Version Cloud Computing when you want to earn a profit you need Job Costing Reports and solid Financial Reports you need the power of the full QuickBooks Desktop version you are focused on saving money with innovations and cost control you are open to implementing a Business Plan designed to increase sales Xero Accounting Online works best when you need to get paid faster and easier you have simple jobs you invoice individually you need to invoice customers at the job site you need Key Performance Indicator Financial Reports you want professional Construction Accounting at lower costs Final thoughts If you're hosting your accounting information on your computer hard drive, it's worth looking into cloud-based accounting to see if you can benefit from the switch. Given the ease of invoicing and accurate record-keeping, combined with the accessibility of a paperless system, you may find cloud-based accounting software is the right plan for you. We offer both Xero Accounting Online and QuickBooks bookkeeping services for construction contractors and have found that the dividing line is how you get paid. Reach out if you need help with starting a Cloud-based accounting system for your construction company. 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. Call 1-800-361-1770 or [email protected]  

Hiring Vs. Outsourcing   Are you thinking of hiring a bookkeeper? After reading this, you may think it is not as good an idea as it seems. In addition to the costs of advertising, reading many fiction stories (resumes), interviewing candidates (like a brand new car on the showroom floor), job-seekers are the best they will ever be during the interview. After that, it is all downhill, and the only question is how fast.   We interviewed hundreds of candidates for Construction Bookkeeping positions, and 90% of them said they could do the job - if we trained them.   What does it cost to have a bookkeeper on your payroll?   Fully Burdened Bookkeeper cost means what it will cost you to hire someone, including the company portion of the payroll taxes and all those little costs that only an accountant like me would think about.   Unlike hiring employees, when outsourcing your bookkeeping (to us), you don't pay for any 'down time' or office chatter, excessively long breaks, cell phone calls, surfing the web. You are charged only for our professional bookkeepers' time doing your construction bookkeeping work. Our people have the knowledge, skill and we have systems in place to work fast, saving you time and money. We pride ourselves on employing the most competent construction bookkeeping professionals and ProAdvisors in the business. Our employees have passed our extensive test, a thorough background check, and a personality screening process. Most of our employees have over 10,000 hours of bookkeeping experience. This level of expertise is tough to find when seeking a part-time employee.  Having said that, competent bookkeepers can be highly beneficial for businesses of any size. They offer expertise and insight into areas you may not have experience in. They can also take some tasks off your to-do list, freeing up your time and energy to focus on other matters.  Here are four benefits to outsourcing bookkeepers to help you manage your construction business. Expertise A bookkeeper is an expert at managing, sorting, and recording your business's financial transactions. They've spent time developing their skills and experience. They've also seen and resolved bookkeeping-related issues that you may come up against during that time. Their expertise makes them more efficient at managing those issues.  Beyond that, they understand business trends and challenges others in your industry face and can help you move through those as well. They also know what questions to ask to help you make important decisions and share best practices with you.  Guidance Your bookkeeper not only helps you maintain accurate records, they understand your financial circumstances. They allow you to assess how to make critical business decisions, such as whether now is an excellent time to grow or when you should hold back. They can also identify trends in your industry and help you take advantage of those opportunities. Finally, they can assist you with budgeting and sticking to your budget. They'll help you develop a realistic financial plan that enables your business to grow while achieving short- and long-term goals.    Time savings As a construction business owner, you likely have many activities to focus on. In bookkeeping alone, there are numerous tasks to be responsible for, such as: Collecting and recording transaction data Sorting receipts Classifying expenses Invoicing customers Paying vendors Managing payroll Bookkeepers take on those tasks, so you don't have to. It's not just about the energy you put into them; it's about the fact that unless you're a construction bookkeeping expert, it'll likely take you longer to complete these activities than it would take a bookkeeper.  Think of the time you spend during an average week managing your books, then think of the time you spend during a high-pressure week, such as during tax season. That can add up to a lot of extra hours.  By hiring a bookkeeper, you save yourself valuable time for other activities such as marketing, keeping up to date with the industry practices, or even spending time with family.  Money savings There's a time cost to doing your books, but there's also a potential money cost in the form of missed opportunities. The time you spend doing your books is time you could potentially be out creating or taking advantage of new opportunities for your construction business. Your bookkeeper frees you up, so you have the time and energy to identify potential opportunities. They can also advise you on whether you're in a fiscal position to jump on those possibilities.  Additionally, the expertise bookkeepers bring to their activities means they're likely to save you from costly mistakes that could affect your finances.  Final thoughts Outsourcing a competent construction bookkeeper is a sound business decision as it gives you access to expertise and guidance you might not otherwise have, and it frees up your time and money to take advantage of other business opportunities.    As a non-employee, we can give helpful, honest advice on how to improve your procedures and overall efficiency. Most employees simply want to fill their time and are resistant to change. Outsourcing your construction bookkeeping to us means you can pick and choose what services you want - essential contractor bookkeeping services, payroll processing, Quarterly Tax Returns, workers' compensation insurance reports, WIP reports, Job Costing, and more. We will work within your budget, so there are no surprises.  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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 448, And It's About Invoicing Construction Clients The Fast And Easy Way Creating invoices and receipts is vital to successfully running a business. You need receipts to track your purchases and expenses. Your clients need invoices for their tax purposes and to manage their finances. Paper receipts and invoices have been around a long time, so many people are used to them and may even resist moving away from them.  Thanks to technology, paper receipts and invoices are becoming more a thing of the past. There are environmental reasons for the move. Paper invoices require millions of trees and billions of gallons of water to produce, and they emit carbon dioxide (CO2), so going paperless can be a good thing for the environment. The Old Way Contractors Invoiced the jobs was sometimes just as much or more work than doing the job itself. In the past, you needed to make notes, collect customer information, go to your office, open QuickBooks or whatever construction accounting software you were using, wait for everything to load up, and then try to find the paperwork, open the invoice screen, and fill it out and if you were lucky, you could email it from QuickBooks to your customer. Then you waited for the check in the mail to arrive to get paid. Our contractor clients, or perhaps some of you are already implementing this, now have two choices depending on what you are most comfortable with, QuickBooks Desktop Version In The Cloud or Xero Accounting Online. You can directly invoice your clients on Jobsite with your smartphone linked to your Quickbooks or Xero account. QuickBooks or Xero Accounting Online for construction depends on how you get paid, the type of work your company does, and if you need Job Costing. QuickBooks Desktop Version Online Works Best If You: Take Job Deposits Have Change Orders Issues Multiple Invoices Need Work-In-Progress Need Job Costing Reports Need Payment Applications Need Periodic Invoices For Bank draws Need Complex Construction Accounting Reports At the price point, Intuit offers all versions of QuickBooks, including QuickBooks Pro, QuickBooks For Contractors, and QuickBooks For Contractors Enterprise. No other construction accounting software comes close to providing the robust Job Costing Reports, Work-In-Progress Reports And Tracking (WIP), and hundreds of other combined reports and features medium and large contractors need to operate and grow their construction company. Xero Accounting Online Works Best If You: Need To Get Paid Faster And Easier Have Simple Jobs You Invoice Individually Need To Invoice Customers At The Jobsite Need Key Performance Indicator Financial Reports Want Professional Construction Accounting At Lower Costs Xero Accounting Online saves us time in data entry, which means we can offer Xero Accounting Online outsourced contractors bookkeeping services at substantial savings over QuickBooks outsourced contractors bookkeeping services and provide more in-depth financial reporting with some of the reports being updated within seconds of when the transactions are received. Here are all the more reasons why your construction business should consider eliminating paper receipts and invoices. 1. Decreased costs Receipts eat into your profits. It costs money to buy the paper and the ink--more than it costs to have an email receipt emailed to clients. Your business saves money by having the receipts emailed instead of printing invoices and receipts for every client. On a per-unit basis, invoices might not seem like a considerable cost, but over a year or a few years, they can add up to thousands of dollars.   2. Increased efficiency It takes time to print it out, change the printer paper and otherwise ensure that everything is working correctly. Meanwhile, your customers and clients wait for their documents to be printed out and handed or mailed to them. Beyond that, how often does a client contact you because they've lost their invoice and need a copy? Emailing invoices allows clients to store them in their email rather than searching for a piece of paper they might have lost or filed in the wrong spot. Your team saves time by not having to reprint those missing documents.  Additionally, with digital paperwork, your online system efficiently generates better, more accurate reports. Consider how easy it would be for employees to take photos of their expenses on their smartphone and have their expense report auto-populated, rather than filling it out manually. Or have the system automatically tell you how much you've spent so far this year on office supplies without you adding up each receipt.  Shredding documents also take up an enormous amount of time that could be better spent on other tasks. Having your receipts and invoices online saves you the time and hassle of shredding and keeps client information confidential.  3. Digital documents are easier to share If you have someone doing your bookkeeping or accounting for you, it's easy to email your digital invoices to that person rather than store them and then mail them or deliver them in person. There's also no risk that the receipt will be crumpled, torn, or otherwise unreadable.  4. Additional marketing opportunities Although you can include some marketing with a printed invoice--a coupon or a link to your website--, digital ones give many more marketing opportunities. An e-receipt provides you the chance to share individualized product recommendations or new promotions. They also enable you to grow your email list and accumulate customer data, allowing you to follow up with clients and customers.  Final Thoughts When you or your employee finishes a job, you need to get paid, and I mean the sooner, the better! Use a smartphone, electronic tablet, or web-enabled device, create the invoice and email it! Not only are you saving time, but you are also saving money and getting paid sooner. Remember - both documents should be clearly labeled as "Invoice" or "Receipt." Even though many people are used to paper invoices and receipts, your construction business has many good reasons to switch to digital receipts. There are environmental benefits and practical reasons that can have a positive impact on your business.  P.S. Here's a Promo Code that you can still use in our Fast Easy Accounting Store and Construction Accounting Academy for a 40% Discount: FASTEASY40 It is valid until tonight - Friday, December 3, 2021, at 11:59 PM. (Please note: Offer does not apply to Outsourced Accounting, Bookkeeping Review, or any Consultation and Training products; you can use it, however, to purchase any course or monthly subscription classes in Construction Accounting Academy). 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 447, And It's About Why Getting The Leads And Doing The Work Are Still Not Good Enough There was a time when a contractor put a simple ad in the paper or a line listing in the Yellow Pages, and they would have more leads than they could handle. It was the only way to go, and the contractors who insist on that and "Word of Mouth" do not survive.   Could those contractors have avoided failure?   I believe they could have. This article explores the top reasons construction businesses fail and the three key questions that every contractor like you needs to ask to prevent failure. It would be best to answer these questions to provide a clear path to your continued and future growth and success.    Contractors who did not move from simple ads that had always worked, and evolved a Marketing Plan made the same mistake other failed companies and brands made. They were unable to Innovate, Reinvent, and Evolve by having a deep understanding of what business they were in, who and what they were competing with, and by challenging themselves to understand their actual expertise.   It's important to plan to give your construction business the best chances for success. Planning means anticipating challenges and developing ways to successfully address them, so they don't upend your construction company.  Here are the top reasons why your construction company could still fail: Lack of market demand  You need to have a market to make money. That means there needs to be enough people who need your service and are willing to pay money to hire you. Without that, you won't be able to cover your costs or earn enough to survive. Before you spend your time, money, and energy starting a business, make sure there's a need for it.  Some ways you can identify needs: Look for competition. If no one else is offering the service, there's a chance there's no market for it. That might not initially stop you from moving forward, but if no one already offers your product or service—or anything close to it—you'll have to do more to prove there's a market. Conduct market research. Studies and interviews help determine whether people in your target market agree with you that there is a need for your offering and that they would pay for it.  Lack of expertise Contractors like you might be tempted to partner with or hire their friends or family—people they genuinely like and would work well with. That doesn't always translate to success, however. For your business to be successful, you need specific expertise, and you need people whose skills complement yours.  You also need people who are willing to discuss your decisions with you and make sure there's a business case to be made for each decision you make. Someone with a differing perspective provides a vital way to double-check whether your choices are best in the long-term for your business or whether other options are available.  Ensure you hire people with balanced competencies. If your roofing business involves installing solar panels, you might need a technical expert to ensure the technology runs smoothly. You'll likely also need a financial expert to help you with bookkeeping and possibly a manager to oversee employees. It's OK to hire people you like, but make sure your team also has the skills to attend your business successfully.  Lack of finances You need money to produce your services and ensure all employees are paid. It's not enough to know how much money you need month-to-month; you need to forecast your development cycle, how inventory moves through your supply chain and variations in seasonal income.  If your construction business doesn't earn as much in the first few months as you predicted, you'll need to bring in more money quickly to save your business.  Ask Yourself: What are you offering? New construction, remodeling, or service and repair? Who is your competition? DIY, other contractors, money homeowners for a construction project? What is your real competency? Residential, Commercial, or both? The Truth Is Four Levels Deep! Challenging yourself is the key to answering these questions. Write your answers on paper or computer, sleep on them and then revisit them again and again until you get to the truth. Getting The Leads And Doing The Work Is Only Part Of The Answer Not answering them and acting on the knowledge is one reason why so many construction companies shrivel and die. They focus on the wrong areas to innovate or improve. They focus on the wrong enemy and threat. As a result, they miss what they could be doing to succeed and prosper over time. Define The Type Of Contracting You Offer And Who Is Your Competition It may not be the same form, structure, and category that you operate. For example, Home Depot does not see itself competing in the building supply business but for a share of the home and commercial remodel and repair market. Be that homeowner doing a weekend project, Handyman Contractors, Remodel Contractor, Trade Contractor, and other contractors and House Builders. This approach and behavior across the organization, too, saw themselves as fighting for a share of the building supply market. Final thoughts It is straightforward to get caught up in the short term and what you have today. You measure your share in the particular segment you operate in and obsess about your immediate competition just as contractors who did not market effectively did years ago. But you need to step back and ask yourself the three key questions and make sure you answer them in a way that will define and liberate your construction company at the same time. Also, keep in mind that you can significantly improve your odds of success by planning, being strategic with who you hire, ensuring there's a market for your offerings, and considering alternative funding sources.  P.S. Here's a Promo Code that you can use in both our Fast Easy Accounting Store and Construction Accounting Academy for a 40% Discount: FASTEASY40 You can use it today, November 26, 2021, to next Friday, December 3, 2021, at 11:59 PM. (Please note: Offer does not apply to Outsourced Accounting, Bookkeeping Review, or any Consultation and Training products; you can use it, however, to purchase any course or monthly subscription classes in Construction Accounting Academy). 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 446, And It's About Practical Tips For Encouraging Repeat High-Profit Clients Many data support the idea that it's less costly, easier, and more efficient to encourage repeat customers than bring in new ones. Among the stats Hubspot lists are: that a 5% increase in customer retention is responsible for more than 25% increase in profit; repeat customers are nine times more likely to convert than first-time visitors, and a 2% increase in customer retention has a similar impact to your bottom line as reducing costs by 10%. Understand The High-Profit Client - Most of them have personality traits commonly known as drivers - folks who are accustomed to getting things done quickly and efficiently. They do not mind paying professionals to service, repair, or build new construction projects related to their houses and commercial buildings. Design and develop your internal customized systems and processes when and where it makes sense. As much as possible, when it is cheaper to buy something ready-made for a fraction of what it costs you to do-it-yourself then buy it.  Systems, Systems, Systems - You need systems (a system is simply a collection of processes built upon an understanding of what works and each method has been tried and tested). Without systems or a desire to "wing it" and see what happens will bring out the animal in these people, and they have been known to cause construction business a great deal of harm and financial pain. First, Design External Systems For the money trail (contract amount, deposits, change orders, payments) For project milestones and projected completion dates (when change orders occur, update the completion date) Cause the least amount of grief and interruptions to their lives Ensure they make the fewest possible decisions (they make decisions all day long) To make sure nobody ever tries to "educate" them about construction (they don't care, that's why they hired you!) Then, follow along these four practical tips to encourage your high-profit clients to keep coming back.  1. Build relationships with clients Take time to learn more about your customers. Do they mention family members? Ask about their loved ones. Do they have particular concerns? For instance - too many cable cords around the house and they have small children. Keep track of their issues and be attentive to their needs. Recommend solutions that address their specific problems. Go the extra mile to show your customers they're important to you.  Ask for their input, as well. They'll get to know your products and services and offer insights into what's working and what could be improved. If you engage them--and make changes based on their feedback--you'll develop a loyal customer base. The more special your clients feel, the more likely they are to hire you again. They'll appreciate your thoughtfulness and value your service.  2. Make it personal Your loyal clients deserve communications that are more personal and less formal. Using impersonal emails for your more extensive email list is fine, but use more personal touches with your best customers.  Phone them or suggest an in-person meeting if you want to let them know about an essential business-related matter. Keep track of important dates, as well. You can send gifts or cards to mark important occasions or to reach out.  Make your best customers feel they stand out from the rest by being more personal with them.  3. Share relevant information Still, if you get to know your customers well, you can pass along articles, books, or other information that might interest them, even if it isn't related to your business. Newsletters are a great way to stay in touch with your customers and let them know what you're up to. It shows them you understand and you care.  4. Remember your loyal clients Businesses sometimes focus their attentions exclusively on new customers, forgetting about loyal and repeat customers. You need new customers to keep your business thriving; however, excluding long-term customers creates customer churn.  It's great to offer new customers rewards and incentives, but that leaves existing customers feeling ignored. Offer your long-term customers bonuses for their loyalty.  Final thoughts The Key Here Is To Get In And Get Out Fast - And they will love you for it! The high-profit client has more money than time, so more than most people; their time is worth a lot more to them than you can imagine. Encouraging repeat customers makes solid business sense. To be successful, you need a balance of new and long-term clients. This means building relationships with people, personalizing your attention, sharing relevant information, and remembering your loyal customers.  A great product or service at a reasonable price might bring your customers in, but outstanding customer service that gives them a positive, memorable experience will keep them coming back.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 445, And It's About How To Get Your Life Back In A Seven-Day-A-Week Construction Business Construction business owners already have a time-consuming and challenging job running their business. If their business is open five days a week, they usually need the weekend to catch up on paperwork, pay bills and manage any tasks they didn't get to during the week.    For those with a seven-day-a-week business, there's even less time off. They often feel the need to be onsite whenever the company is open to deal with unanticipated issues, help the staff out, and ensure all tasks are completed.    Being onsite seven days a week isn't healthy or productive, however. It can cause burnout and result in errors being made. It affects the construction owner's personal life and quality of life, not to mention their overall well-being.    Here are three tips for getting your life back when you operate a seven-day-a-week business.  1. Hire a trusted manager The next best thing to having you onsite all the time is to have a manager with authority similar to yours who can be onsite when you aren't. Invest money in hiring a manager to deal with operations so you can take days off. Train that person to deal with any issues you anticipate and make sure they know and understand the business inside and out. Give them the authority to make decisions in your absence. It might take a little time to build up trust with that manager, but they will be invaluable to you when you have them.   2. Delegate tasks you don't need to do As a small business owner, you have regular duties that need to be done but could be better done by an expert. Doing them yourself takes up a ton of your time and forces you to be on the job site more. Look at your tasks and determine which ones are eating up your valuable time. Could you hire a bookkeeper? An accountant?  Virtual assistants can now be hired to deal with invoicing, collecting payments, and making phone calls on your behalf. That frees you up to deal with other tasks at your job site, which means you may get your other duties done and find you have free time.  These outside service providers cost money, but they are worth the expense when you consider the time and energy you'll save by not taking on those tedious tasks. Especially when you factor in the extra personal time, you'll have. 3. Start slowly The worst thing you can do is wait until you feel you're about to have a nervous breakdown before you think about taking days off. That increases the chances that you'll need a day off at precisely the wrong time—during the busy season or when there's a work-related crisis emerging.  To get yourself comfortable with taking days off and get staff used to you being away: Start slowly. Maybe take an afternoon off during the weekday; that's typically the slowest. When you're comfortable with that, start taking an entire day off here and there. After a while, you'll be fine taking two days off, even during busier periods. You may not always have a five-day-a-week job, but at least you'll be okay taking days off for yourself.  Final thoughts As contractors, you wear too many hats that you end up wearing yourself out from the weight of it all or from the time it takes for you to wear all of it. You don't have enough energy nor time. It would be best if you had time away from your business to maintain your sanity and stop yourself from burning out. Having trusted staff and expert service providers in place will help you take a break from your worksite and get yourself some personal time.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 444, And It's About Job Costing - Your Construction Company's Competitive Advantage Every contractor has a Job Costing Library; some keep it in their head, some keep it on paper with names like completed jobs, bids, estimates. Other contractors keep it in their QuickBooks For Contractors' software records. Still, other contractors rely on places like RS Means for comprehensive databases of construction costs. These are similar to the "Flat Rate Books" used by car repair shops for decades.   A tiny fraction of contractors understand the actual value of a customized cost library and invest the time, energy, and resources to build and maintain one. Having done several, I can tell you it is a painful, arduous task. I will tell you a story to make it crystal clear.   The Treasure Box That Saved Four Contractor's Lives! In the mid-1800s, an archeologist left New York City on a journey into the heart of the African jungle in search of a lost civilization. He intended to find and bring back treasures that would make him a wealthy man. He recruited four physically fit and very intelligent contractors, one each from The Four Types Of Contractors, to assist him with the promise they would be paid a substantial reward when they returned the treasure box to his office in New York City. All went well for the first two weeks, and as luck would have it, they stumbled upon the lost civilization resting undisturbed under a soft blanket of floral and vines. The archeologist and the contractors worked feverishly to find the treasure without success during the next two weeks. Late one afternoon, the archeologist was bitten by a poisonous snake, and before long, he began to get dizzy. He knew he had less than twenty-four hours to live, so he decided to spend his remaining time putting a plan in place to save the lives of the contractors he had brought on the journey. While the contractors slept, he filled the Treasure Box and sealed it with a large, heavy padlock. When the contractors awoke the following day, he described in great detail how he had found not what he came for but something much more valuable, more valuable in fact than gold and jewels. Everyone was very excited until he told why he would not make it out of the jungle alive. This news caused a great deal of sadness because everyone knew the archeologist was the one person who could keep peace and harmony when tempers flared and made sure everyone stayed focused and kept on track. The archeologist struck a bargain with the contractors to be rewarded handsomely if they worked together and delivered the Treasure Box to his office in New York City. He gave them a letter written in Latin to be delivered to his partner along with the Treasure Box with instructions regarding the contents of the Treasure Box. The archeologist made it clear the Treasure Box had to remain sealed until it was delivered, or else they would receive nothing. Now getting four contractors to agree on anything is a miracle in itself, let alone work together. They were fortunate the Treasure Box was so heavy it required all four of them to work together to move it. They fought their way through the jungle for three long terrible weeks, finally arriving at the archeologist's office in New York City and presenting it to his partner with the Treasure Box and the letter. The partner read the letter and smiled knowingly before opening the Treasure Box. It was filled with rocks. The contractors were very angry and upset. When they calmed down, the partner translated the archeologist's letter for them, and it said: "By Making You Work Together, I Saved Your Lives Which Is Worth More Than Gold Or Jewels" Your Treasure Box is your construction company's job costing library.  Building it is like taking that long, challenging journey out of the jungle, which is why so few contractors ever do it even though the results are more valuable than a Treasure Box full of gold and jewels; because a job costing library can turn a regular construction company into a perpetual money machine. "If You Know The Answers The Questions Will Not Bother You" - Randalism Knowing in advance which jobs have the highest probability of success and profit before getting involved moves your construction company from an unpredictable roller coaster to a peaceful merry-go-round. The key to a helpful bid is accurate job costs. Your estimator needs to access the past job histories to calculate the construction costs accurately. Contractors with annual sales volume under $5,000,000 are not likely to have a $100,000+ a year professional estimator on staff, so do not expect them to be 100% accurate.  The key is to get the final job costs as close as possible to the project estimate and budget. The only differences between your bid and the finished project should be overhead and profit. Job Costing Process Minimum Requirements: Time cards that have spaces for job name and cost codes - Free Timecard Templates Have your bookkeeper provide labor burden rate - Labor Burden Explained Heavy equipment job allocation rates Job costing and job profitability reports Job Costing Library Minimum Requirements: Construction bookkeeping services system with QuickBooks setup correctly allocates transactions into direct construction costs, indirect construction costs, overhead, and other costs. Job costing reporting system based on one of these four foundations: account-based, item-based, schedule of values-based, or work-in-progress based (W.I.P.). It will depend on your particular construction company and what markets you serve. Professional construction bookkeepers and accountants maintain the construction bookkeeping system, and I don't mean the secretary who does everything, including the bookkeeping. The people are responsible for purchasing labor, material, other costs, and subcontractors to code every receipt with the correct job name and cost code. The Fast Easy Way Outsource The Hard Part And Keep The Easy Part We have #1, #2, and #3 in place already, and all you have to do is #4, and we have processes to train you and your staff. QuickBooks For Contractors desktop version is available 24/7 on a secure cloud-based server if you want to interact with it and monitor the data entry and additional reports in real-time. You don't need to open your QuickBooks for Contractors file if you prefer not because either way, we will automatically generate your Job Costing and Job Profitability reports and send them to you on whatever schedule suits you best. Our construction accountants can review the Job Costing and Job Profitability reports with you and answer all of your questions. Final thoughts Job Costing is much work, but the results are worth it. You can save money in the short run by doing it yourself, hiring someone to work in your office, enrolling in our online class, or you can spend a bit more money and outsource it to a company like ours, which specializes in Contractors Bookkeeping Services; the choice is yours. Just be forewarned to set up QuickBooks for your construction company, do the data entry, payroll, quarterly taxes, construction accounting, and Job Costing, and do it right will require a substantial skill. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 443, And It's About Succession Planning A Will For Your Construction Company You may be getting your construction projects done with sheer willpower, but the lack of processes, business plans, and strategy will eventually wear you down. You can either keep on "Powering Through"- spend your life endlessly chasing details, missing appointments, suffer untold losses in cash flow and profits, or you can start developing a plan and work on your business.   Successful contractors improve processes all year long. Your construction company can benefit from an excellent system that other successful contractors are using now, which means there is no need to "Reinvent The Wheel." As your construction company grows and evolves, your processes can support the controlled and planned expansion.   Along with trying to keep on top of your construction business, the unfortunate reality is that most business owners don't take proper holidays. Usually, this is because their business relies on them, and they don't have the support to keep the business running without them.   As a construction business owner, have you ever considered what would happen to the business if you had to take a six months break because of a severe illness or injury? Would the business survive? How would the bills get paid? And while it might not be nice to think about, if you were to die, are you sure your business partners would give your loved ones a fair deal? For these reasons and many more, all business owners need to have a detailed succession plan. A succession plan is like a will, but for a business. However, there is often a more comprehensive range of scenarios and options to consider. Just like your will, a good business succession plan can vary from one business to the next. But some key areas should always be considered, which you can find below.  Business Structure In the event of death or retirement, the ownership and control of the business may need to be transferred to the owner's family or the surviving business partners. How easily this occurs will often depend on how the business operates, such as through a trust, or a company, or without a separate entity at all. Succession Agreements If something happened to one of the business partners, would their spouse or children take over the control of that share of the business? If the answer is no, then a succession agreement can assist the other business partners to continue business operations while allowing for compensation for the former partner's family. Managing Risk Just like personal insurance, business insurance can provide a range of protection, such as temporarily meeting the standard costs of running the business (business expenses cover) or paying for a short-term replacement manager (e.g., trauma or disability cover). A life insurance policy linked to the succession agreement that provides the deceased partner's family with suitable compensation for the transfer of business ownership to the surviving partners may also be a good idea. Power of Attorney Most small businesses struggle to do much without the advice and authority of the figurehead or main key decision-maker. That's why a Power of Attorney is integral to a good succession planning process. It helps the business to physically operate if the owner is incapacitated because of illness or injury. A range of people may need to set up a succession plan, including a financial adviser, lawyer, and accountant. We can help you find the right team for you. Even if you already have a plan in place, it is crucial to review agreements and insurance policies to keep them up to date and reflect the business's current value. Need a succession plan? The last thing I leave you is "Knowledge is Power." There are simple answers to all complex problems, and they are usually wrong. Invest the time, money, and effort to do it right the first time. With the appropriate tools and processes, you can have the insights you need to manage and grow your construction company effectively and efficiently, even without you running it. You can sit back and relax while you monitor and manage the work-in-process you already laid out. You have what it takes to be successful, and you deserve to be wealthy because contractors add value to other people's lives.  Chat to us to get started. We're here to help you run a successful construction business and protect your assets, now and in the future. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 442, And It's About Four Things To Consider Before Expanding Your Service Offerings Balancing customer experience and setting client expectations against your time and budget is a difficult task. It would be best if you had excellent planning, efficient project managing, and perhaps the right amount of staff working to keep customers happy, but not so many people that workers are standing around looking for things to do.    If your customers have long wait times, that's good news for you initially—it means your business is popular. The bad news is that homeowners won't wait around forever for you to fix your time management issues. If they like your services, they'll be a bit forgiving, but too many long waits will send them to your competition.   For instance, when a homeowner decides to remodel their living space, they dream about how it will look and feel when it is done, but they have no idea what an emotional roller coaster is in store.    Surprises were great when you were a child because you were conditioned to believe that surprises meant you would get something good! As adults, you have been conditioned that surprises are not always pleasant. Highly profitable remodel contractors understand this and have processes in place to deal with it. Fear on both sides Contractors without financial reporting systems they can trust to generate accurate Key Performance Indicators and Reliable Job Cost Reports do not know if they are making or losing money from day to day, which leads to doubt, which leads to stress, and the result is they tend to work faster and harder. Their frantic behavior raises everyone's stress level. Contractors in this situation tend to feel like they are driving down the freeway at midnight, wearing a blindfold hoping for the best, and fearing the worst. A Comprehensive Bookkeeping and financial reporting system can reduce or remove the feeling of being out of control. A Simple Easy To Understand - Remodel Invoicing System to keep track of the following: Original Contract Price Change Orders Job Deposits Advance Payments Each Progress Payment Running Balances Showing What Is Done Running Balance For What Is Still Unbilled Percentage Of Completion On Each Major Section Invoicing Residential Remodel System Fast Easy Accounting Sample Pay Application We Prepare For Our Clients Using QuickBooks Reports It needs to be in place before starting any remodeling project. It will save you and your remodel client much grief, and your cash flow and profits will soar. We work with contractors like you to develop strategies to deal with these issues and more. Homeowners expecting their house to be improved suddenly find themselves under siege from a group of cavemen who are ripping and tearing their living quarters apart, and they panic. Some homeowners will tell you they are miserable; some will say nothing, having decided to get even with you once the job is done by withholding final payment! Some consider calling 9-1-1, but they don't because they would be laughed at and perhaps irritate the contractor. Under-promise and over-deliver At some point, your remodeling business will be so busy that customers will be stuck waiting for service. In those cases, under promise and overdeliver. If you know something will take five days, tell the customer it will take a week. Customers are happier if something takes less time than expected than if it takes more. This tactic also buys you time in case of unexpected delays. The worst thing in this situation is that you have to tell customers their wait will be longer repeatedly. That frustrates them and makes them less likely to come back.  Final thoughts Line-ups and wait times are inevitable, but they don't necessarily mean you need to hire more employees. There are solutions available to you that enhance the customer experience without you hiring more people.  It is your responsibility as a contractor to understand the fears and concerns of your client and have a communication plan in place as part of the overall project plan. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 441, And It's About Four Things To Consider Before Expanding Your Service Offerings If you're looking to grow your construction business, you might consider expanding your service offerings. Adding additional services is an excellent way to increase your profitability, diversify your income and expand your market. But there are essential things to consider before adding to your income streams.   First things first - find the money. If you don't have savings earmarked to fund your ideas, you'll want to make sure your "scaling my construction business" plan includes adequate financial planning. Applying to a lender for a business loan is one option. In this case, you'll want to include up-to-date cash flow reports, income statements, budgets, and projections in your plan for a potential lender.   If your construction business doesn't have a credit history, you may need to look at other options for financing your plans. Using a business credit card regularly and paying off the balance can help you build a good credit rating, which will help you prepare to apply for a loan down the road.   Here are four important things to keep in mind when you consider adding to your services. 1. Does the expansion complement your company? The best way to expand your service offerings is to add value that complements the work you're already doing and is attractive to your current client base. While it takes more effort to bring new customers in, adding something that your existing clients need and that you already have the capacity for is an efficient way to increase your profits. If you already offer lawn maintenance, find out what other yard work your clients need done, for example. It might be reasonably simple for you to provide those services to your clients, and they'd probably be happy for you to do it rather than hiring someone new. 2. Is your profitability consistently high? Spending money to hire new people and buy more equipment if your business isn't consistently profitable is risky. It might be tempting if you make much money in one year to jump into offering a new service, but hold back until you've got a couple of years of high profits behind you. That allows you to save money to cover the increased expenses and ensure that the one year wasn't an anomaly. Invest in your business, but expand your services when your profits are consistently up, not when you've had one outstanding period. 3. Is there a potential partnership or merger that makes sense? There are times when forming a partnership or otherwise merging businesses makes sense. Is there someone out there who works in a similar capacity that you could work well with? Maybe they are excellent in their field but need help running a business. Explore a partnership or a buy-out. For example, if you offer Residential Home (Builder) consulting and you know someone who provides relocation services, you might form a partnership so the new company can provide both customized help and relocation services. That can lead to new clients for both you and your new partner. Keep in mind, joint ventures are a bit like change orders. They can be an incredible opportunity to make or lose much money very quickly. 4. Are you doing it for the right reasons? There are many good reasons to add new services, but there are also reasons to increase your risks. Competition, for example. While competition can drive innovation, it's not the only reason to add a new service—and doing so just to beat your competitors can lead to mistakes being made and money being lost. Rushing to expand is when companies find themselves in trouble for adding services there's no market for or without a fully-formed plan. Final thoughts For your construction company to survive and thrive in any economy, you must pick a niche market and develop your Strategic Business Process Management System (BPM) with definitely written goals of what you want to accomplish and how much money you want to earn from it. Your construction accountant can help provide additional financial advice and support as you update your business plan based on your most current financial records.  Expanding your business is exciting, but it's important to consider some issues before committing your time, energy, and financial resources. If you're adding new services, do so because it makes sense, you're in a financial position to do so, your clients want it, and you have the capacity for it. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 439, And It's About Understanding Roles And Why It Makes Sense To Hire Us I will start by quoting a short sentence found in the all-time best-seller "Basic Instructions Before Leaving Earth" That is an acronym; take the first letter of each word and put it together to form a different word. "No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other.." there is more to that, and the point is that concept applies to accounting.   How many times have you hired someone with the expectation they knew how construction works, and then you found out they did not have a clue about it or your particular type of construction? It happens all the time, and the first thing that crosses your mind cannot be posted on this blog. We know how much you would like to take action and fix it immediately. But before you do all that, let's go back to understanding roles to know which one you need.   Three Skill Sets = Three Types Of People Bookkeeper The primary role of a bookkeeper is to handle a company's day-to-day financial management. A bookkeeper will take care of the small but essential details essential for providing an accurate picture of where a business stands at any given moment. In addition to a bookkeeper's main job – making sure every financial transaction is accurately recorded in the general ledger – they may also take over other critical tasks like invoicing, paying suppliers and vendors, and processing payroll. Ideally, a construction company's books are updated at the end of each business day, so you always have an accurate account of your sales, expenses, and the bottom line. However, if your business is still in its early stages, without much financial activity or the funds to hire a bookkeeper, you should aim to reconcile your accounts at least once a week. Accountant An accountant's primary role is to help companies make sense of their numbers for strategic planning - analyzing, summarizing, interpreting, and reporting financial data to provide "big picture" business advice. As a construction business owner, you'll want to work with an accountant from very early days to help with budgeting, forecasting, and decision making – as well as for strategic tax advice and identifying opportunities to reduce costs and maximize profitability.  Many business owners think they only need to talk to their accountant once a year at tax time. But to be able to gauge the health of your business - and make the most of your accountant's expertise - it's recommended you check in at least once a month. Your monthly meeting is a chance to review key reports, like your profit and loss statement, discuss opportunities or areas of concern, and get timely advice to help meet the goals you've set out in your annual business plan. Certified Public Accountant The C.P.A.'s primary function is to prepare the annual tax return, perform audits, and prepare Certified Financial Statements for bank loans when a construction contractor requires them before issuing a construction bond. Keep in mind that most Certified Public Accountant accounting specialists can do all accounting for most standard businesses that only need regular accounting but not construction accounting. Construction company owners who think it's costly to hire a construction accountant and would instead only seek a C.P.A.'s help might be in for more business damage in the long run. What C.P.A.'s Do And What Construction Accountants Do   Why it makes sense to hire us We pride ourselves on employing the most competent construction bookkeeping professionals and ProAdvisors in the business. Our employees have passed our extensive test, a thorough background check, and a personality screening process. Most of our employees have over 10,000 hours of bookkeeping experience. This level of expertise is tough to find when seeking a part-time employee.  Unlike hiring employees, you don't pay for any 'down time' or office chatter, excessively long breaks, cell phone calls, surfing the web. You are charged only for the time our professional bookkeepers are doing your construction bookkeeping work. Our people have the knowledge, skill and we have systems in place to work fast, saving you time and money. Online Data Protection is critical to providing you reliable and professional-grade outsourced contractor's bookkeeping services. At Fast Easy Accounting, Cloud Security is not an option- it is a fundamental requirement. We only use Intuit Approved Commercial Hosting Services. We have taken steps to select the best to ensure that your data is as secure as that found for online banking and financial institutions. Their Cloud Security rests on U.S.-based servers, backups, data centers, and technical support. Not one aspect of our Cloud security relies on outsourced services or offshore locations. We do not offer long-term contracts even though contractors have asked for them. The reason they ask for them is to protect themselves against price hikes and unpleasant hourly billing surprises. They love it when they understand that we offer fixed flat-rate pricing and that the agreement is month-to-month. This means the burden is on us to perform at a high level, constantly innovate, modernize and improve our services because every bookkeeper, accountant, and support staff member's livelihood and future paychecks depend on being re-hired every month by our contractor clients. Final thoughts Construction Accountants should not be preparing annual tax returns - either be a tax accountant and serve the interest of the tax collection agencies or be a construction accountant and serve the interest of contractors. C.P.A.'s are like I.R.S. agents in that they owe their primary allegiance to the tax collecting agencies, and that is O.K. because the government needs our tax dollars to operate. Construction accountants owe their primary allegiance to the contractor. Our role is to help the contractor optimize their construction company to generate the most cash flow and profit over the long term. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 438, And It's About Proven Proactive Contractors Formula To Get Things Done And Get Paid As much as we plan, it would be best if you were flexible, adaptable, and reliant. Things happen that are beyond your immediate control. Those of you who want a predictable environment are employees working for a large employer where schedules are fixed and doing the same things every day.      It was a different mindset when you became a Construction Business owner. You wanted to be independent, and part of being independent is that there is no one telling you what to do or when to do it. Your suppliers and government agencies direct you and impose fines and penalties when you get off track.   Proactive versus reactive are the two methods of getting something done. I find everyone works in a combination of both, I included. Proactive is scheduling and doing everything ahead of time. Nothing is ever waiting until the last minute. Reactive is more emergency-driven and are things that need to be done now.   As the Construction Contractor owner paying the bills, you are constantly concerned about "Making Money or Losing Money" jobs. It never seems like there is any money left over! Why does it seem like I am just watching the money fly by and zooming out of my checking account? First things first: Have you invoiced everyone? Do you have an easy way for your clients to pay you? Change orders - get them signed and delivered where appropriate (ASAP). Sloppy bookkeeping happens just a little at a time. There are not any limits to the number of transactions that can be entered into QuickBooks improperly. Messy files build transaction by transaction or, more simply put, invoice by invoice, receipt by receipt all can be entered into QuickBooks improperly. No popup says "This Is WRONG" – Do It Over. Reactive contractors practice the "Keep It Simple Method" for bookkeeping. Put all of the receipts in the drawer, out of sight and out of mind. The drawer is next to the computer with the QuickBooks for Contractors or other Bookkeeping Software on it.  Using the power of Wishful Thinking, the hope is that the transactions will "Magically Appear" into the Bookkeeping software without any additional assistance. Unfortunately, with all of the technology available, it still requires the help of a "Real Person" with skills to know where to put the transaction into the system.  Watch out for the customers who are not looking to pay you the value of your services.  These can be other contractors where you are working as a trade contractor or retail clients. Understand the rules about Notice To The Owner, and each state may have different laws.  RED FLAG anytime a homeowner or general contractor implies you will not get the job if you do not do this. On larger jobs, make it a habit to do Notice Of Intent To Lien. The notice does not say you will lien but protects your rights if you are not getting promptly paid. DO IT NOW – USE A SERVICE. Run, don't walk. If you are being threatened, then chances are they do not intend to pay you. Your supplier, whenever material is delivered, will automatically do a Notice Of Intent To Lien. This is a good thing because they are helping make sure you get paid for the material used on the job.  As a contraction accountant, I hear stories every day. Some are from contractors who gleefully brag about rejecting the estimates unless a discount is given (even when they know the price is reasonable). In my opinion, these are not good customers, just professional scammers. A good contractor knows his pricing and wants to give good value to his customers and pay a fair price to his contractors.     I have heard people bragging about not paying the contractor unless additional unpaid work is completed in social settings. It takes a lot for a customer (I mean scammer) to get on "The Bad List" of fast food places. Do you have clients, customers, or professional scammers? Just a fence create good neighbors; using a lien service helps you get paid. The alternative is that you are racking up your credit card and spending lots of interest. It is an incentive to pay you. Those who never plan to scam; do not have a problem. In my opinion, it is the scammers who object the loudest.  It is hard enough being a Contractor; this is an easy way to get rid of those who never intend to pay you.  Reactive needs to engage in a service that factors your Accounts Receivables, and more desperate forms of financing are when you have a Quick, Fast Loan that requires daily or weekly repayments.  The least painful is to collect the money from your client. If being a little aggressive to enforce your lien rights is needed – Do It. – Do It Now, because your general contractors are protecting their lien rights.   In some states, if you are out of business, you can not collect your outstanding Accounts Receivables.  Final thoughts You can't spend or invest money you do not have. It is unreasonable to expect your suppliers to accept your credit card to pay your invoices, and you refuse to do the same. You can't afford the excuse; the rates are too high; I want you to refer back to the high cost of No Money or get a high-risk loan. In comparison using merchant services is cheap, and funding is usually in 1-2 days. Both clients and customers typically have a credit card tucked away for emergencies. Polite and tactful are not making your client "feel bad" if they need to split the payment between several cards.  Practice what we preach. We offer a Free Hour Consultation in which I try to provide value regardless of you purchasing future services from us. It is by exception that I take checks even from local clients. Affectionately, I summarize my role for Outsourced Accounting Clients as Nurture, Nap, and Follow Up. In other words, I can say the same things other people around you say, but it comes out better. On the flip-side, we have been in construction and construction-related services a long time and know "BS" when we hear it! We are looking forward to helping you, and we expect our clients to follow directions so we can. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 437, And It's About How A Bookkeeper's Incompetence Can Ruin Your Construction Business Contractors, by nature, are tenacious, resilient, and have a tremendous amount of "Grit And Determination To Succeed," which means they are not easily disturbed or prone to react hastily or rashly at the first sign of trouble. This is just one of the many qualities I sincerely admire about these remarkable men and women.   Like you, we have callouses on our hands, having owned and operated construction companies, and some of us have served an apprenticeship in one of the construction trades. In other words, when it comes to owning, managing, and making a substantial amount of money with construction and contractor service companies, we know what we are talking about.   Incompetent bookkeepers can destroy your construction company and your finances. Unfortunately, until a contractor has gotten to know us, they tend to think of us as just another contractor's bookkeeping service. This means some contractors think we are crazy to suggest that any trusted employee, especially an in-house bookkeeper, would steal money from their company, so they ignore us until it is too late.   Furthermore, the Construction Bookkeeper Embezzlers come in every race, creed, color, gender, and age. At least, you can filter out the incompetent ones, but there is no definitive profile, no absolute way to know which contractor bookkeeper is an embezzler until they have been caught and convicted. Even then, if you do not perform extensive background checks, you may never know it until it is too late. As a small business owner, you're likely concerned about every penny you spend. That's a good thing because you need to keep track of your income and expenses. However, it also means that you might be less likely to hire people to help your business. People like the competent bookkeepers, who are great investments for any small business. So what exactly does a construction bookkeeper do? Construction Bookkeepers take care of the daily financial records for your business and make sure your books balance. They use bookkeeping software, such as QuickBooks Desktop For Contractors or Xero (like we do) to track receipts, reimbursements, reconcile accounts, and prepare specific financial reports. All the frustrating day-to-day financial stuff that you probably dislike they love. A competent Construction Bookkeeper who is an expert in their field is an excellent investment for your small business for several reasons:  1. They save you time Unless you're great at bookkeeping and enjoy it, you may find bookkeeping a headache. Chances are, you'll put it off until it's a massive chore to take on, then take ten times as long to do it. You'll find it takes you away from other business tasks such as training staff, networking, or marketing your construction business. The time you spend trying to understand your financials could be better spent on tasks you're good at. A construction bookkeeper should be more efficient; they won't have as many errors and can save you a lot of stress in the long run.  Your time—and your sanity—are worth the cost of a competent bookkeeper.  2. They are experts in their field Are you up to date on the various tax laws and fully aware of how they affect your contracting business? Bookkeepers are. They can advise you about any changes to the tax laws and what those mean for your business.  Construction Bookkeepers can also provide you with insight into your company's financial situation. If you're overspending in a particular area or need to reallocate funds, your bookkeeper will tell you. If there's something you don't understand about your financial situation, they will explain it to you, so your financial situation isn't a mystery.  3. They prevent errors Because construction bookkeepers are experts in this field, they won't make the same mistakes you'll make. Those mistakes might seem small at first, but data entry errors, mixing up expenses, and other errors can add up, costing you money.    Final thoughts What happens when the person in control of QuickBooks is unhappy with you? The same thing that happens when the person who cooks your food is unhappy with you.  We have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases, it was Bookkeeper Incompetence or Bookkeeper Embezzlement. In other cases, it appears there may have been some deliberate identity theft; however, we cannot be sure.  All we know for sure is that we have witnessed business failures that have led to divorce, families destroyed, finances wiped out, and people living on the streets. Make sure you hire the right one for your construction company. The services a competent bookkeeper provides can help you financially in the long run. They also prevent a lot of headaches and save you valuable time. As a construction business owner, there's no way you can be an expert in all aspects of running your business. If you don't like bookkeeping or don't have the time or knowledge to do it well, a bookkeeper is a valuable resource and an excellent investment for you.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 436, And It's About The Advantages Of Healthy Competition For Your Contracting Business Starting a construction business means you'll compete with other companies that already exist. It's a good thing if you have a competition to go up against. Competition pushes you to be innovative. It also means there's an established community for your services.   What about if you're considered a veteran at this stage? Understand that you cannot outwork your competition forever because you will grow old and tired in time, and there will always be someone else who is newer, younger and works cheaper than you can.   Being aware and mindful of what others in your industry have developed and provided leads to a newfound motivation and belief in making an impactful difference, whether within your company or your community.   The key to benefitting from the competition is knowing how to take on competitors, so your company earns a profit effectively. Here are some ways to get ahead of your competition and grow your construction business. 1. Respond to client needs  Large businesses have weaknesses. The bigger they are, the less personalized and responsive their service is. They market themselves to a broader audience and, because their overhead is higher, they have to bring in more clients to cover their costs.  In this respect, your size is an advantage. Fewer customers mean more personal service. That opportunity for relationship building will entice customers who are looking for extra attention.   Examine what people love about your competitors but also what frustrates them. Build your business to address those gaps. If you find that something isn't working with your customers early on, don't be afraid to shift. Be innovative in responding to market changes and client demands. You'll have an easier time making that change early than once you're more fully established.  2. Show what makes you different Your business offers something different from other contractors in the area. If you didn't have something unique, you wouldn't be starting a business. You're different from what's already out there—and that's what makes you attractive to your target market. Do you have special knowledge or expertise in your industry? Are you offering a service that has a new component, such as a technological advantage? Does your product fill an existing gap in the market?  Whatever it is that makes you different, market that. Make sure people know why and how you're unique. 3. Take advantage of existing knowledge If there are already established competitors in your industry, that's a good thing. It means someone has already done vital research on your customers' needs and pain points.  You can learn from the knowledge that already exists by studying your competition. Look at their website, social media, and review sites. Take note of how they sell their goods or services. Are they using tactics relevant for you? Are their strategies effective? Are there weaknesses in their marketing or offerings that you can address?  Rather than spending your money doing your research, learn from the construction businesses that have gone before you.  4. Focus on your audience There's room enough in most industries for competition. While it's a good idea to know who you're up against, ultimately, your clients are your priority. Focus your efforts on providing goods and services meaningful to them, address their pain points, and improve their lives. Market yourself to make those aspects clear. Show them why you're the ideal company to hire for their project.   Final thoughts Look into your industry and the successful contractors around you not to lose sight of your vision for your construction company but as an inspiration to guide your systems and processes. Using these four strategies can effectively take on the competition and help your construction business be successful. Take it one step further by hiring an expert to help you with the things you are not an expert of - for instance, hiring a Website/Social Media Manager to take care of your online presence, as this is your digital office.  Of course, a financial advisor or a construction accountant who has been where you want to go and can guide you will benefit your construction business. We want to be that person for you. Optimize your time and skills by doing what you love and do best. Fill out the form on the right, call me at 206-361-3950 or 1-800-361-1770, or send me an email at [email protected] and schedule your no charge one-hour consultation. 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. Call 1-800-361-1770 or [email protected]      

This Podcast Is Episode Number 435, And It's About Construction Company Recovery After A Financial Setback You started your construction business with plans of earning a living and being successful, but an unfortunate fact of business life is that companies suffer financial hardships. Whether those hardships are pandemic-related or linked to other urgent situations, the effect is still the same. Your finances are negatively affected, and it's up to you to lead the recovery.   Almost all business sectors have experienced declining profits, liquidity that is drying out, and even bankruptcy. Although the short-term outlook varies depending on your industry sector, all business leaders need to set up a strategy to guide their way towards recovery.    Here are five steps you can take to help your business recover after a financial setback. 1. Find areas to cut back. As a business owner, you'll always have expenses, but there are ways to reduce your spending and save money. Negotiate rates with your suppliers or find out if you can make arrangements for a discount. If not, see if you can switch providers. Look for ways to cut back on office expenses. Can your office staff work remotely? Can some of your office space be rented out? Can you change utility providers? You likely don't want to cut back on your staff if possible, but you may have to. If you don't want to lay staff off, try reducing hours or cutting back on perks until things turn around. 2. Follow up with clients that owe you money. During busy times it's tempting to be more laid back with clients who owe you money. When you've had a financial setback, it's essential to take stock of who owes you money and start collecting. Go through your invoicing system and follow up with anyone who owes you money. You might be surprised at how much could be coming your way. If cash flow is a concern, consider charging clients a deposit to work with you. Doing so speeds up how quickly you have money coming in. Remember - OPM (Other People's Money). Construction companies need short-term liquid working capital such as cash, lines of credit, loans, owner financing, credit cards, supplier accounts, and other forms of money to conduct daily operations. Ensure all change orders are documented with a scope of work and paid in advance before the work begins. 3. Diversify your income Governments around the world are offering assistance to small businesses affected by the pandemic. Look into business grants and income support schemes in your area designed to help your business recover. Consider other ways of diversifying your income. If you're an expert in a particular construction field, offer virtual courses or workshops to teach others what you know. If you provide services in one niche, consider whether another area might be closely related to yours to allow for expansion. 4. Review your budget If your budget was created before the financial emergency, go over it again and revise it as necessary. See if anything in it can be removed or delayed. If you plan on offering training seminars for employees, consider postponing for a few months. If you budgeted to expand your business, hold off until you're more financially stable. 5. Increase your marketing You need to bring in customers. To do this, you need to market your business. Traditional advertising can help, but there are more cost-effective ways to go about it. Explore content marketing or social media. Consider email newsletters or search engine optimization. Marketing reminds people about your business, and although it may seem like a bad idea to spend money at the moment, some spending is worth it in the long run. Not all marketing is expensive—and some can be just as effective as traditional advertising.  Final thoughts Financial setbacks are upsetting and frustrating, but they don't mean your business is finished. Follow these strategies to give your company the best chances of recovery.       Your construction company might have changed drastically in recent months. There is good news in that, too. It means your business is adaptable and that you can find ways to survive.   While you prepare to get your construction business back to full speed, it also helps to have a business expert guide you in rethinking your business strategy and rebuilding it into a more resilient one. If you need personalized advice about your specific situation, get in touch with us to work out a plan. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 434, And It's About The Actual Net Worth Of Your Construction Company Have you been in business as a construction contractor or specialty contractor for a while, and now you are wondering what your construction company is worth?   Nothing is ever as good or as bad as it appears. If you are like most contractors, you learned a trade, skill, or craft, and after a while, you decided to go into business for yourself and make "The Big Bucks," which was one of the happiest days of your life. I've heard It said that boat owners experience two of the happiest days in their lives; the day they bought their boat and the day they sold it.   So, how much is your construction contracting company worth?  Accounting Value: Equity Which Is [Assets or What You Own] (Cash, Tools, Material, Loans The Company Made) - [Liabilities or What You Owe] (Payables, Credit Card Balances) = [Equity or what is left Over]. These numbers are found on your construction company Balance Sheet. See the example below and notice the highlighted line "Total Equity," which is $305,616.56. This means as far as the accounting records are concerned: #1 If the owner collected all of the money owed to them [Accounts Receivable] and got the security deposit back. #2 Sold all vehicles, computers, office equipment, machinery, and equipment [Fixed Assets] for the amount shown. #3 Paid all of the bills [Accounts Payable], [Credit Cards], [Other Current Liabilities], [Long Term Liabilities]. #4 There would be $305,616.56 in cash for the owner. The Real World: The actual net worth of your construction contracting company is what someone else will pay you for it. There are 100's of factors that affect how much your construction company is worth, and I have listed nine of them below: #1 Length of Time In Business - In general, the longer your business has been around, the better. Just know that everything changes rapidly, so what occurred more than three years ago may not be as relevant in most cases. #2 Standard Financial Statements - There are several ways to set up QuickBooks for Contractors. It depends on what you want from them. Internal Financial Statements are what most bookkeepers set up, which means they may add a lot of fluff and try to capture Work-In-Process (W.I.P.) and Job Costing in the Chart of Accounts, which is acceptable for your internal use next to worthless for anyone outside your company. Tax Preparer Financial Statements are what most C.P.A.'s and Tax Preparers setup which means they keep the Chart of Accounts small as possible and mirror the annual tax return as close as possible. This helps them get the tax return done in the least amount of time and effort possible. It is next to worthless for you, the contractor, and anyone else. Standard Financial Statements are what most bankers and investors like to see because the Chart of Accounts is set up to make it possible for them to understand the financial health and well-being of your Construction Company. Most banks subscribe to a service like The Risk Management Association (R.M.A.) that allows them to input key data from your Financial Statements and returns an in-depth analysis of your construction company. This means when a contractor gives their banker, investor, or potential buyer anything but Standard Financial Statements; they are "Shooting Themselves In The Foot With A Nail Gun." Our Contractor Bookkeeping System can provide you with Standard Financial Statements; unless you or your bookkeeper makes adjustments in the Chart of Accounts. You and your bookkeeper can make any adjustments in the Item lists, and as long as they are linked to the correct account in the Chart of Accounts, it will be O.K. #3 Net Income - Is your construction company earning enough money to pay you a decent salary? Which should be at least twice your highest-paid employee and at least 10% net profit after all costs, including Income Taxes. #4 Cash Flow - Is there enough cash in the bank or money market accounts to keep your company running for at least 60 days? And is your cash balance growing every year by at least 5%? #5 Number of Customers or Clients - Which do you have Customers or Clients? Having the right mix of quality customers or clients that provide a lot of top-line sales and revenue. Quantity is not as important as quality. #6 New Customer or Client Acquisition Strategy - A simple documented strategy outlining your best customer demographics and psychographics profile, so you know who they are, where they are, and how to attract them. #7 Existing Customer or Client Retention Strategy - A simple documented strategy outlining the changing needs of your customers and clients based upon the profile of your best customer demographics and psychographics, so you know what they are going to want before they do and continually innovate your services to those wants, wishes, and desires. #8 Documented Operations Manuals - Don't get trapped by the lazy way of training people by paying people to learn by experience or by sitting around the "Camp Fire," "Water Cooler," "Break-Room," or "Job site." In the end, you will have chaos because everybody will have a different way of doing everything, and no amount of yelling, screaming, threats, punishment will be adequate. In the end, you will waste a lot of money that should have gone to bottom line profits. This can be avoided with documented operations manuals. #9 Unique Selling Proposition - the one thing you do best that makes you the most money is your Unique Selling Proposition. One of our Plumbing companies in the 1990s was maintenance contracts for fast food restaurants. We made a lot of money by cleaning their drains and side sewers during their slow times instead of waiting until it was an emergency and fixing and replacing leaking faucets because we could schedule the work to be done by our crews during our slow time. Final thoughts Remember, there is a world of difference between Regular Accounting and Construction Accounting. Construction Accounting is the center of your construction business; pay attention to what it says, and it can make you wealthy. The value in your bookkeeping and the actual net worth of your company lies in the accuracy of the reports. With the appropriate tools and processes, you can have the insights you need to manage and grow your construction company effectively and efficiently, even without you running it. You can sit back and relax while you monitor and manage the work-in-process you already laid out. The last thing I leave you is "Knowledge is Power." There are simple answers to all complex problems, and they are usually wrong. Invest the time, money, and effort to do it right the first time. You have what it takes to be successful, and you deserve to be wealthy because contractors add value to other people's lives.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 433, And It's About Why Smart Construction Business Owners Never Stop Marketing One classic mistake construction business owners make when money gets tight is stopping marketing or cutting their budgets. At first glance, it seems logical to cut down your expenses during harsh economic conditions. However, in reality, it's the opposite of what you should do.   When your construction company is struggling, cutting your marketing budget will further hurt your business. During this time, you should go the extra mile to be at the forefront of the minds of your clients and prospects. With an effective marketing strategy, you should be able to increase sales.   However, if you need to tighten your belt, here are some steps you can take instead of putting a pause on your marketing efforts. 1. Be strategic about how you spend your money. First of all, don't waste money. This sounds simple, but in reality, many construction business owners are not mindful of their spending. Be strategic in your spending, and don't throw money in areas that won't contribute to your business growth. For instance, if your data suggests that the returns are higher from your digital marketing efforts compared to print ads, you might want to dedicate your resources more online.  2. Invest in action campaigns. Are you launching a new service or running a discount promotion? Invest in an active campaign that will provide your target market with all the information they need and prompt them to act. Ensure that you share all the details such as your website, exact location, operating hours, or a discount code for their purchases. 3. Communicate with your target market. Ensure that your messaging is not only engaging but crystal clear and concise. Whether you want them to sign up for a newsletter, request information, or grab a special offer, your messaging must be clear. The call-to-action in your campaigns must also be solid and powerful to create the desired action. 4. Social Media channels are free. Your social media presence makes your company accessible to your prospective clients. It promotes awareness and increases web traffic. Consider your persona and research what platform will serve you best. If you're not confident and savvy, I suggest going through social media sites to check where your competitors are and how they interact with their patrons. Pick three platforms to start with and download their mobile apps. Share bite-size information and good, quality photos to attract potential clients. Since people retain more information when a post is paired with a relevant image, let's focus on photos: Behind the scenes Team/crew Office events Quotes Industry insights Local gatherings Community Events you're sponsoring/attending Random tip Latest industry news Company sales and promotions (this could seem "salesy" but works great when done right and timed-appropriately) Keep in mind that consistency is key. Interact with your audience and always be authentic.  5. Discuss with your marketing partner/staff and rethink your marketing strategy. You may be working on a thousand other things right now, but you have to make time to discuss with your marketing partner or staff and rethink your strategy. Producing great results is not always about marketing; instead, you have to focus on doing better. Stop and think about your messaging, frequency, timing, channels you tap into, and other factors to get the best results. Final Thoughts These could be intimidating at first due to a lack of experience or being preoccupied with finishing projects. Don't feel defeated; understand that your strategies need to evolve and expand for your company to prosper as a construction business owner. Be an active listener to the online community you built, and chances are you'll get high-quality leads from them. Times may be challenging right now, but try your best to stay the course and use this as an opportunity to strengthen your relationship with your customers and prospects. Just because you're on a tight budget doesn't mean you have to stop marketing and give up the chance to boost sales. Always have a monitoring method if your marketing is working or not—otherwise, you can't refine and improve your marketing strategies and budget (for paid ones) unless you measure the results. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 432, And It's About Cash Flow Advice For Construction Businesses Solid cash flow management is vital to ensuring your business survives, but not everyone understands what cash flow is or how to manage it. That's likely what makes it a leading cause of stress for construction business owners.   Cash flow refers to the movement of money into and out of your business. It's based on the amount of money you bring in minus the amount you spend. A positive cash flow means you're bringing in more than you're spending. A negative cash flow means you aren't bringing in enough to cover your expenses. Your company can run into problems by not charging enough for goods or services, having late-paying clients chronically, growing too quickly, or simply spending too much money.   Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over. Cash flow can vary throughout the year, depending on sales cycles or whether you've made a large purchase. Here are three strategies you can use to gain control over your cash flow. 1. Understand your profitability Managing your cash flow is excellent, but it won't help you if your business isn't profitable. Take a look at each of your services to determine how much they bring into your business compared with how much you spend to provide them. Find any inefficiencies in your processes and eliminate them if possible. Figure out where your business is most profitable and where you're dealing with cost overruns. The basis of a solid cash flow is ensuring you offer goods and services that are profitable and help you obtain your goals while reducing those that negatively affect your finances. You may need to increase your prices to reflect the cost of goods sold or stop selling lower-margin products or services. Similarly, take a look at your clients. Are there some that you are undercharging or spending too much time and energy on? Can you increase their fees or find higher-paying clients? 2. Write a cash flow forecast Your cash flow forecast (also called a cash flow projection) predicts how your business will perform financially over a set period. It's a good idea to have a cash flow forecast for a year, broken down into quarters and months. The projection considers your revenue and expenses over those set periods and helps you figure out how much you need to make in that period to cover your costs. It can also allow you to anticipate any upcoming cash flow issues, such as slower periods that may require you to cut back on expenses. If you have any anticipated big-ticket items you'll need to buy or plans to expand your business, include those in your forecast. Periodically check your actual cash position against your projection to see how you're doing and if you need to make any adjustments. 3. Use technology to keep on track There are plenty of software solutions that can help you gain insight into your company's cash flow. They can help you build projections and get a real-time view of how your construction business is doing. This information can then be shared among company managers so everyone can know how the company is doing financially and where strategies need to be put in place or altered to get you back on track. Additionally, invoicing software and project management software can encourage faster, more manageable payment from clients and keep projects on budget. This will also improve your cash flow. Final thoughts Many business owners find cash flow management stressful, but with a bit of information and planning, and by using the right tools, you can have better insights into your company's financial situation. Those insights will help you make better decisions for your business and gain control over your cash flow. Because of the unique nature of construction accounting, most accountants have little understanding of how construction accounting works. Construction accountants are skilled in providing accurate information for contractors, while C.P.A.'s and tax preparers are trained to make sure contractors pay their fair share of income taxes. The bottom line is working with us; you get the best contractor bookkeeping services company on your side, which means you will substantially improve your chances of success. We are not Jack-Of-All-Trades, Master-Of-None accountants, or bookkeepers who take anyone who contacts us. We are Construction Accounting Specialists with one purpose and only one purpose; serve construction contractors in the business and prepare to get into business. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 431, And It's About Consequences Of Avoiding Your Construction Bookkeeping Every business needs a financial plan. Your financial plan gives you a way to monitor and review your cash flow, make adjustments to your spending, and anticipate any upcoming economic issues. It can also make you more prepared to request funding or find investors so you can bring more money into your construction business.   Although many business owners are aware that financial planning is essential, it is often overlooked. Without a financial plan, however, you could find your business doesn't make the money you expected it to—or you could wind up with unanticipated expenses and no way of paying for them.   If you are a contractor, you are most likely a "doer," someone who gets things done, not now but right now! When you see anyone not swinging a hammer, drilling holes, pouring concrete, laying carpet, putting paint on the walls, or a thousand other construction tasks, the first thing you think is they are wasting time and money, and you want no part of that nonsense!   Having worked with contractors for a long time, we saw what highly profitable contractors do those other contractors don't: they all have a documented Business Plan that they review and update during the two weeks following every calendar quarter. Advantages: Prior Planning Prevents Poor Performance. When you take a vacation, you plan for it. When you buy a truck or a tool, you plan for it. You can plan your exit strategy to retire comfortably. Cash flow and Profit is no accident; it is a result of deliberate action. The economy will not impact you as hard because you will see changes coming. When you were a child, you enjoyed surprises but not in your construction company. Excuses:  I don't have the time to plan; I have work to get done! It is a lot of work, and I don't know if it will be worth it. None of my contractor friends who are in debt up to their ears do it.  Most contractors hate putting together a documented Business Plan until it is finished, and they start seeing the power of setting financial goals come alive then they say, "why didn't I do this sooner?" As Napoleon Hill is famous for saying, "Whatever the mind of man can conceive and believe, it can achieve." It is not enough to say, "I want to make a lot of money!" because the Universe is always in balance and responds to specific requests. Here are some steps to take to build an effective financial plan for your construction business: 1. Set your goals You need to know where your construction business is now and where you want it to be so you can develop a financial strategy to move forward. At least once a year, ask yourself important questions so you can plan for what's to come. Among the questions to ask: ● Do I need to expand or grow my business (in terms of staff, locations, or goods and services)? ● Do I need to make any large equipment purchases? ● What resources might I need to buy this year? ● How will any acquisitions or expansions affect my cash flow? ● What adjustments might be required to address these expenses? 2. Understand your cash flow To build an effective financial plan for your business, you must understand your cash flow. Your cash flow is the movement of cash into and out of your business. If you have more money coming in than going out, you have a favorable cash flow situation and can pay your expenses. If more money is going out than coming in, you are in a negative cash flow situation and need to bring in more money. Understanding cash flow—including sales cycles—will help you build a plan for your business. For example, if your business is seasonal, it helps to know when sales drop and for how long, so you can plan for those periods. You can also anticipate when sales will be higher, and you'll have extra money to set aside for emergency expenses. Remember that cash flow and profitability aren't the same things. Your business can be profitable, but if none of your clients are paying you on time, you won't have the necessary cash flow to stay afloat. 3. Create a sales projection An essential part of your plan is your sales projection. This is related to your cash flow forecast but focuses on your sales. It gives you insight into every segment of your construction business to better understand which of your offerings brings in the highest sales. When you forecast your sales, make sure you include the cost of goods sold to determine your predicted growth margin. This information will help you determine which of your offerings are most profitable and which should be revised to increase your profits. 4. Talk to an expert You don't have to have all the answers for your construction business, but you have to be willing to talk to people who have the information you need. Once you know your current situation and goals, speak to a construction accountant or financial expert to figure out your next steps. Experts can help you make sense of your financial situation and how to move forward—whether that's the best use of your profits or getting yourself out of a negative cash flow situation. They can offer you effective solutions you may not have considered or help you revise your plan, so it's more realistic. 5. Monitor your progress Throughout the year, take a look at your plan and projections to ensure you're still on track. If things are progressing as you expected, excellent. If not, explore how you can address the situation before financial problems become unmanageable. Final thoughts Creating a financial plan may feel overwhelming, but by having a clear picture of your goals, current situation, and progress, you can write an effective financial plan that increases your chances of success. Next week we'll do a deep dive into cash flow for your construction business. Reach out to me if you need help with building your construction business plan today.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 430 And It's About Five Key Points To Optimize Construction Sales And Profits 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!   However, construction company owners like you work in a world that is intangible and imaginary, where nothing is real or solid. Nothing in this part of their world can be perceived with any of your five senses: Sight, Sound, Feel, Taste or Smell. Your long-term time horizon is between 30 days and one year, depending on the size and complexity of your construction projects. You have to make hundreds if not a thousand decisions each day with whatever limited information is available to you. As a construction company owner, you have to decide on Marketing Strategies, Accounting Strategies, and Production Strategies, or as we call it, M.A.P. Vs. P.A.M. - the construction company owner's version of "Which Came First - The Chicken or the Egg?" Each decision you make carries a different weight, and the trick is knowing which ones to delegate and which ones to focus on. For example, the decision about what markets to pursue; Residential, Commercial, Industrial, has more weight and can impact your company more than which brand of toilet paper should be used in the office restroom. The decision on which market to pursue is only the beginning. Once the decision has been made on which market to follow, you have to decide which market subset: New, Remodel, or Service & Repair. Each strategy needs very different construction workers, Caveman, Cowboy, and Shoe Salesman. Put the wrong worker in the wrong environment, and you could see for yourself what happens when a Bull gets loose in a china shop, and it is not pretty! What gets measured gets managed. These five key points are an excellent way of gaining insight into where you are now and where you would like to take your construction business. As a construction company owner, if you could only do one thing all day long that would contribute the most value, what would it be? As a construction company owner, are you continuing to upgrade your management skill sets and grooming subordinates to replace yourself to grow sales and profits? Are you, as a construction company owner, letting go of the "Fun and Easy Low Paying Tasks"....and replacing them with the "Hard, Self-Discipline Tasks" that produce results? Let's identify your annual financial goal and divide it by 2,000 hours. If you want to take home $100K a year, your time at work is worth $50 per hour ($100,000 / 2,000 Hours = $50.00 an hour). It is crucial that you do the job you are worth. Do fewer things, get better and better at them, get more results, get good at doing the high-paying work, outsource, delegate, or ignore all else.  To paraphrase Stephen Covey from his book The Seven Habits of Highly Effective People. If you struggle with some of these concepts, you are not alone. We have helped a vast number of contractors to find clarity and overcome these obstacles and, in some cases, completely turned around their construction company and helped them reach their full potential. Final thoughts Just like all forms are easy to fill out if you have all the data in a readily usable format that is accessible, what you do as a contractor is "Easy To Do" if it is something you do all of the time. As QuickBooks experts in Contractors Accounting and Contractors Bookkeeping, paperwork is our particular skill set. We know what to do! Let us help you so you can do what you do best! 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 429, And It's About The Challenges Of Construction Business Partnership Randalism: A Partnership is the only ship designed to sink. However, we understand your preference, so I would like to talk about it in this blog post. Joint ventures are a bit like change orders. They can be an incredible opportunity to make or lose much money very quickly. Almost as quick as betting money on a roulette wheel in a casino. Joint Ventures have their own accounting rules. The devil is in the details. How costs and profits are shared among the participants depends on how the joint venture is structured and the terms of the agreement. Contractors with annual sales of less than $10,000,000 often get together to work on a specific project. They find a friendly competitor to supply labor and equipment for a percentage of the job, hourly fee, or a flat number. This could technically be a "Joint Venture"; however, the time and scope are generally short and sweet. For example, a concrete contractor may have a large project requiring more finishers than on staff. For many business owners, partnerships are an ideal way to run a business. Operating a company with a partner means you don't have to make all the decisions independently. It means you have someone there with you to help you carry the burden and share ideas with. That can be a great thing when it lasts. Unfortunately, many construction business partnerships fail. Although they fall for various reasons, some main factors contribute to a business partnership breakup. Here are three reasons business partners break up and steps you can take to prevent it from happening to you. 1. Unequal contributions All partnerships go through periods where one person contributes—their time, money, energy, or other resources—less than the others. That's normal. When it happens over a prolonged period or becomes a pattern, resentment can set in, and the other partners can begin to feel taken for granted. In some cases, a disparity in contributions is natural. However, these situations require a conversation to ensure that the inequality is addressed and made up for in other ways. For example, if one of the partners has a lot more money or time to invest. If one person has more money to contribute, can the other make it up by contributing more time? If one partner is in a stressful period—maybe they need to step back for a few months due to health issues—can they pick up the slack later so the other partner can take some time off? Make sure this discussion involves quantifiable amounts. You can't measure "work extra," but you can count "work an extra 6 hours a week for three months." Unequal contributions can be addressed and managed, but all partners need to talk about the situation and develop a reasonable and realistic plan for ensuring the disparity doesn't become an insurmountable problem. 2. Not hiring help Partnerships run into trouble when the people involved think they can handle every issue that comes their way, even if it falls outside their area of expertise. It doesn't matter how many people are involved in the partnership; if none of them are good with numbers, none should be doing the accounting. When people take on too many activities outside their expertise, problems arise. Mistakes get made, and people get blamed. Relationships can sour. Discuss with your partners your areas of expertise and activities that you aren't comfortable doing. Any tasks that no one has expertise in should be given to a professional so that each of you can focus on the areas you're good at and comfortable in. 3. Differing visions Business partners should have a shared vision for the company to work towards the same goals. It's okay for partners to have slightly different views on achieving those goals, but overall the vision should be aligned. Problems can take hold when partners have profoundly different visions for the company and meet their goals. Ensuring a shared vision is an important step. To do so: Make sure your company has a formal, written strategic plan. Work with your partners to write and review the plan periodically. Ensure everyone remains committed to the same vision and address any shifts in perspective that may have occurred. If you're about to start a business partnership, discuss with your partners why they want to run a construction business, their vision for the company, and their long-term goals. Make sure everyone is at least somewhat aligned. Final thoughts Business partnerships can be advantageous, but they also have the potential for issues. Open communication about your ability to contribute, your skill sets, and your vision will help your partnership stay on track and prevent a breakup.   Avoid errors, leave nothing to chance. Be sure you and the other party agree on how the income and expenses will be dealt with in your construction accounting systems before starting work. Implement processes and procedures to ensure the venture's activities are appropriately documented. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 428, And It's About Managing Field Workers Effectively In Your Construction Business The construction manager is conditioned to avoid emergencies by being proactive. It is necessary to have systems in place to deal with emergencies when they arise. After the crisis has passed, the effective project manager evaluates the root cause of the trouble and implements change in the system to avoid a repeat performance. It’s also one thing to manage workers when they’re all in the same place at the same time. However, when you run a construction business with field workers, things can get a lot more challenging. Not only are you typically not on the same job site as them, but you might also have workers scattered over a variety of sites and projects.  Managing them doesn’t just mean scheduling them and making sure they’re progressing on the project, but also knowing how to shift people and equipment between sites to boost productivity. Here are three things you can do to manage field workers in your construction business effectively. 1. Be clear on your expectations One of the most challenging parts of having field workers is when people don’t know their expectations. They might understand what their job is—and be perfectly capable of carrying it out—but less clear on their level of autonomy. For example, under what circumstances do they need to consult you versus making executive decisions on their own? Is there someone on each job site who acts as team lead, or are they all given the same level of authority? Who is the superintendent, if there is one? How frequently should they communicate with you about progress, and what information do you need? What are the milestones they need to meet, and when do they need to meet them? What are your responsibilities to the workers on the job site? Giving your field workers a clear idea of your expectations makes it easier for them to react to situations at the moment, rather than wondering if they need to contact you. It also provides them with a framework for carrying out their duties. Finally, it reassures them that there are expectations of you that you’ll meet as well, such as ensuring they have the right tools for their jobs. 2. Upgrade your tools Many construction companies still use manual processes, such as telephone calls, to share information. These manual processes require you to review large volumes of paperwork and take up a lot of your time to keep up-to-date on what’s going on. With multiple job sites, the task can become unmanageable. These days, various technologies and platforms can share information and communicate with field workers. You can send tasks to field workers, ask them to capture data, and share virtual paperwork in real-time. The information is shared much more quickly and efficiently and reduces the risk of missing paperwork and other errors. It also provides you with a complete audit trail, so you have proof of your construction company’s activities if there are ever any questions. 3. Engage workers One of the best things you can do to manage field workers is to ensure they all know they are part of the team and feel appreciated by you. This means being clear in your expectations but also allowing them to offer feedback. Find out how you can support them. Provide group activities where the different teams are brought together to interact with each other and get to know one another. Visit the job sites. You may sometimes have to check in to evaluate how things are going, but drop in periodically to check in with them without being there to review their performance. Ask what’s going well and what could use improvement. Listen to your field workers and if their suggestions are reasonable, consider implementing them. After all, they’re the ones in the field. Final thoughts As the head of your business, or if you are the construction manager, understand that a crucial part of what you do is to remove obstacles and temptations that keep your employers from peak performance, run interference for them when they mess up, and make sure they get recognition and credit when the project goes well.  Managing field workers can be complicated, especially if you have numerous teams at different locations. Being clear about your expectations, using the right tools, and engaging your workers will help you more effectively manage them. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 427, And It's About Consequences Of Avoiding Your Construction Bookkeeping If you ask 100 business owners what they like least about running a business, the chances are good that bookkeeping will rank high on the list. It's an annoying and frustrating chore that takes up much time and is easy to put off until tomorrow. Moreover, Construction Companies have unique bookkeeping needs. Some bookkeepers and bookkeeping systems may cost you more than they are worth in salary, fees, and loss profits because you cannot get QuickBooks reports and financial reports when you need them. Chances are, you are suffering from bookkeeping pain, and your bookkeeper or accountant is overwhelmed trying to figure out how to do construction accounting. Good bookkeeping leads to informed decisions. Avoiding your bookkeeping is dangerous, however. For example, not knowing your construction company's financial situation can result in a series of missteps that could ultimately cost you your business. Here are three consequences of not keeping up with your bookkeeping.     1. You'll make poor decisions   You can only make informed decisions about your construction business when you have a complete picture of your current financial situation, including how much money is in your accounts, what your cash flow forecast predicts, and how much money you owe. Without that information, it's much more challenging to know when you can afford to spend money or when you need to hold back.    Without proper bookkeeping, your decisions will be based on how you think things are going, which isn't always accurate. For example, you may have just finished a good month and decide it's time to hire new employees only to find out you don't have enough money in the bank to pay them. Waiting three months to hire employees might be more profitable for you in the long run, but you won't know that because your books aren't up-to-date.    Maintaining your books ensures you have your company's entire financial picture available to make intelligent decisions.     2. You'll make financial mistakes   Your employees, subcontractors, and lenders all rely on you to make your payments on time, every time. In addition, payroll itself requires considerable attention to ensure your employees receive their benefits adequately.    Not keeping track of your financial books can result in expensive errors being made, including benefits being missed, bills not being paid on time, or over or under-payments. This could cost you extra in fees for late-payments or rushed payments, which also affects your books.   On top of all this, financial mistakes can lead to a lack of trust. You need a trusting relationship with your employees, contractors, and lenders. Unfortunately, payment errors can erode that relationship quickly.    3. You'll lose money   In addition to losing money in unnecessary late fees and payment charges, not keeping track of your books can result in lost money that your business desperately needs.    You won't know which of your clients or customers aren't paying you on time, which means you can't follow up with them or add interest charges for their late payments.    You could be paying too much in expenses, and if you don't reconcile your books, you'll have no idea that money is being wasted. Perhaps you purchased a software program to enhance productivity in the early days of your construction business. Maybe you stopped using it but forgot to cancel it, so each month for the past few years, you've been paying for a service you don't use.    Those payments add up and affect your overall financial position.    Final thoughts Bookkeeping might be many entrepreneurs' least enjoyable task, but it's an important one. So if you find yourself putting off bookkeeping or dreading doing it, it's a good idea to look into hiring someone to do it for you.  Construction bookkeepers are trained and knowledgeable in the process, and they can save you valuable time and money in the long run. Otherwise, be prepared to set aside time regularly to do your books yourself and not let yourself put the task off. It's too critical to the future of your contracting business.  Want to get your books in order without adding more work to your plate? Get in touch with us today. Fill out the form on the right or here. You can also reach out to me through phone or email. Your privacy is important; I answer my own phone (drops into voicemail if I'm busy or after business hours). You can still use promo code: 30FEA for a 30% discount (until July 11, 2021) upon checkout at our: Fast Easy Accounting Store (Bookkeeping Set Up and Cost Codes Templates only - does not apply to Consultation/Training/Outsource Accounting), and Construction Accounting Academy (any class or Monthly Subscription) 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 426, And It's About Construction Business Mid-Year Reminder For Setting And Reviewing Goals How are you and your construction business? Have you considered what you'd like to achieve in the coming twelve to eighteen months? Or maybe your set of priorities for the next half of 2021?   Contractors like you are typically highly creative and optimistic; thus, you often have difficulty narrowing down your ideas from among all the exciting possibilities, whether it's an opportunity to expand to a new market or choose a better time management strategy.    While some of you love planning, others feel overwhelmed by the process. So how do you decide on just a handful of goals that take priority, with so many moving parts that make up a construction business?   1. Set SMART Goals Focus your efforts and increase your chances of achieving your goals by the SMART guideline: Specific, Measurable, Achievable (Attainable), Realistic, and Time-Bound. Start by defining your top three business goals for the next four quarters. Then, with those in mind, do some research to help you decide on the best way to achieve those three goals – and a reasonable timeline for meeting specific targets.  2. Redefine Your Brand Is the elevator pitch you used a year ago – even six months ago – still accurate? Unless you are crystal clear on who you are as a construction company, whom you're here to serve, and what you hope to achieve in the next one to three years, it's going to be hard to come up with meaningful goals. Getting leads and doing the work is only part of the answer. Not answering them and acting on the knowledge is one reason why so many contractors' companies wither and die. They focus on the wrong areas to innovate or improve. They focus on the wrong enemy and threat. As a result, they miss what they could be doing to succeed and prosper over time. Take a look at your company vision, mission statement, and core values. Next, define the contracting you offer and who your competition is. It may not be the same form, structure, and category that you operate. For example, Home Depot does not see itself as competing in the building supply business but for a share of the home and commercial remodel and repair market. Instead, be that homeowner doing a weekend project, Handyman Contractors, Remodel Contractors, Trade Contractors, and other contractors and House Builders. If your brand needs tweaking to reflect where your construction business is today and where you want it to go, start there. Then you can move on to setting some beneficial long and short-term goals. 3. Big Picture Planning Construction business owners dream big—and they should! Thinking big can lead to groundbreaking products and services that become the foundation of innovative, successful companies. When it comes to goal-setting, thinking big is great, too. But to make those big ideas like "increasing market share" or "growing profits" happen, you need to break them down into smaller, specific goals and strategies tied to a budget and timeline. For instance, while your overarching objective may be to "grow profits by 50% by December 31", your smaller goals might include: Launching a social media campaign the first week of March to attract 2,500 new prospects by months' end; or Increasing total sales by 40% by establishing an online presence (Business Website) by August 1.  Again, the key is to define goals that are measurable and achievable. 4. Define Smaller Goals Thinking through how you'll achieve your broader objectives can be a fun exercise – one you can turn into a group activity, including your entire team. First, sit down and discuss what you know about your customers. Next, review your historical sales data and look over your current budget and forecasting.  With all the relevant information at hand and everyone at the table, you can develop strategies that align with your construction company vision, assign deadlines, and get buy-in on what everyone needs to do to see your ideas through to completion. It is easy to get caught up in the short term and what you have today. You measure your share in the particular segment you operate in and obsess about your immediate competition just as contractors who did not market effectively did years ago. But you need to step back and ask yourself the three key questions and make sure you answer them in a way that will define and liberate your construction company at the same time. What are you offering? Who is your competition? What is your actual competency? Final thoughts It's worthwhile to take some time to reflect on your personal goals as you think through your business goals. For example, maybe you've wanted to get involved in mentoring, improve your networking skills, or attend more conferences. Self-development is, in a sense, professional development – and vice versa, so include them in your plans. Of course, coming up with business goals is just one part of the equation. You'll also need to monitor your progress, note milestones, and share your company achievements with your team regularly. Tracking your results will help your employees stay motivated – and it also gives you the chance to adjust your goals and strategies in time to achieve the best possible results by year's end. Happy 4th of July! Use promo code: 30FEA for a 30% discount (from today until July 11, 2021) upon checkout at our: Fast Easy Accounting Store (Bookkeeping Set Up and Cost Codes Templates only - does not apply to Consultation/Training/Outsource Accounting), and Construction Accounting Academy (any class or Monthly Subscription) 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 425, And It's About Digital Disaster Recovery For Your Construction Company Hiring or not hiring employees is one of the few optional things the business owner chooses, changes their mind, or changes direction as needed. With so much discussion about employees, payroll, and payroll taxes, you may feel that you miss out on not hiring many employees. The reality is that as a small business owner, you do not have to hire employees. The two extremes in any business are "Too Many People" (with many looking busy) and "Too Few" (a handful are overloaded). An example of Too Many People is for a midsized firm having everyone with access to the accounting. I mean everyone from the "Shop Guy," Warehouse, Outside Salesman to Accounting Staff. Depending on the size of the construction business, this might be necessary. However, for most companies letting everyone have access to the balance in the company checkbook creates "White Noise" and causes friction. "The company is making all this money" – I am justified in being lazy, stealing (time or material) services. Lots of time spent standing around with a coffee cup in hand being too crucial to doing the work they were hired to do. That leads us to... Hiring Toxic Personalities Businesses hire more staff as they grow. But if they expand too quickly, they will feel pressure to fill positions on their team, even if the job candidates have a few personality flaws. While some people change, others don't, and a few toxic personalities will poison your company culture. This is why controlling growth is so important. Though it is hard to predict, you can create a game plan when you exceed your projections. Building a team of healthy personalities is another priority. If you don't, toxic employees will look for coworkers with similar values. If they can't find them, they will try to hire them! But what personalities should your company avoid? There are many, but micromanagers are one of the most common. Instead of letting their coworkers do their jobs, they bug them over minor details, sabotaging team goals. Project Managers do manipulate emotions as part of their job, but some abuse this power. For example, they will try to ruin people with gossip, or tell bosses what they want to hear, even when they know it is terrible advice. Instead, always look for team members that value their coworkers and employer, and have enough emotional maturity to find and fix their weaknesses. They will become better team members over time and face problems even when they feel uncomfortable. Hire the right person and create a balance Too many cooks in the kitchen. We have all experienced this on holiday events. Multiple people who are used to doing things their way are all working in the same kitchen. Is everyone working together seamlessly to get the meal ready? Depending on the dynamics, the answer is Maybe Yes, Maybe No. Does everyone know:  What needs to be done? Who should do it? Can it be delegated? Is the task time-sensitive? The same can be true in your business. There are too many jobs and not enough time for a single person to do everything. Yet, everything needs to get done. But what, in what order, and by whom? Very few employees will work with the dedication of an owner. Why? Because at the end of the day, they are not the owner. They do not have a vested interest of an owner. Flipside, I have seen owners delegate everything to the employees. Seagull Management! Attitude is "Make Me Rich," I'm doing more important things, "Goofing Off." Hint – this could lead to lots of theft. I attended a conference where one of the speakers explained that as the company grew, she needed to delegate. Too Many Hats. She discovered that as a business owner, the hats were added one at a time until it felt like she was a juggler at the circus trying to keep all the balls in the air. Sound familiar? What she discovered was that employees were unwilling to put in the same number of hours and efficiency. They didn't have the same priorities. So as she sorted out the jobs – she discovered it took three people to do the bulk of what she had been doing. After all the delegating, she still had plenty of stuff deemed urgent, essential, and necessary that only she could do. But, unfortunately, not many people can afford to hire a professional business manager to handle all business and personal matters. In conclusion Don't add staff just to have staff. Employees are expensive. In Washington State, it is mandatory to offer Family Leave and PTO. Family Leave is similar to State Unemployment which is calculated on gross wages paid. PTO (personal time off) is at a rate of 1 hour per every 40 worked. The employee can use the time off anytime they want – no notice given) Other benefits may include paid vacation and holidays. Suggestion: Embrace good accounting software. We recommend QuickBooks Desktop. Do not let everyone in the books. Business Coaches and Tax Accountants need reports to help you. Opinion: Let Them Look – Don't Touch and Don't Help. Their view is not the only view and usually tied to the software they use. In other words – they usually roll up the numbers. You want to be able to drill down (expand the numbers). Good Construction Accounting Setup provides reports for everyone. Final thought: Limit Access to the checkbook. It is harder for employee theft if outsiders can not see or touch the money. If you're looking to hire a construction bookkeeper, this guide might be able to help you narrow down your options. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 424, And It's About Five Ways To Make The Most Of Your Construction Business Downtime Every business experiences slow periods when the market for their goods or services lessens and sales drop. Construction business owners like you might be tempted to view downtimes as unproductive or wasted, but there are ways you can make the most of your business during these seasons. Here are five ways to ensure this time isn't wasted: 1. Take a good look at your business When things are busy, it gets easy to fall into a habit of taking care of day-to-day tasks and forgetting your overall business picture. However, slower times are an excellent opportunity to step back from the daily grind and ask yourself if your business is still moving towards its goals, what opportunities or challenges are on the horizon, and whether it's time to try something new. Examine various aspects of your construction business, such as your marketing and sales, to see if they're all working together or if they need revising. Is your social media account information still accurate? Do you have unanswered emails to respond to? When was the last time you posted on your blog? Should your website be updated? This is a great time to take care of those tasks that have been put off for far too long. 2. Get bold with your marketing When business is booming, entrepreneurs often prioritize tasks directly related to profits, and other activities—such as marketing—take a back seat. Rather than using downtimes to catch up, use them for experimenting with new tactics. Have you tried creating marketing videos or used Instagram Live? Have you sent out direct mail? Write a blog and social media posts ahead of time. Strategize your next marketing campaign and commit to posting on social media every day. If you have time, build up a backlog of posts to have pre-written content when things get busy again. You can also use this time to learn tactics and tricks you may not fully understand. For example, if you like writing your marketing materials but don't understand search engine optimization (SEO) or Google Analytics, this is an opportune time to learn about them. Again, professional development now can help you in the future. 3. Implement new policies and procedures If you want to make changes in your business, slower times are often a great opportunity to try them. That way, you have the chance to review the modifications and whether they work well for you before they cause a massive headache. Are you considering a new web hosting service? Are you looking to automate some client-facing activities? Make these changes during a slow period to get a good feel for how well they work. At least then you can address challenges that arise before things get busy and you're left dealing with many upset customers. 4. Harness the power of learning Knowledge leads to profits and cash flow. What makes knowledge powerful? Use of knowledge. In this cutthroat construction industry, you may not be able to outgrow your competition forever, but you can always outlearn them.  Gain insight from a free consultation with me or enroll in one of our Construction Accounting Academy courses. Master the skills needed to generate useful reports, repeat quality performances, and make informed decisions to operate and grow your construction company. Click here for the list of classes.  5. Connect with your community Quieter periods are a perfect time to get more involved with your community and do some good. Find a local organization that you care about—or related to your business's work—and partner with them. For example, you could sponsor an event or a seminar or even run a fundraising drive. Not only will you have something to talk about on your social media, but you'll also engage customers that care about purchasing from companies that do good. These days, that's important to many consumers. According to Forbes, 88% of consumers will be more loyal to a company that supports social or environmental issues, and 87% will have a more positive image of a company that supports social or environmental issues. Final thoughts Remember that business won't always be slow, so don't panic when things get quiet. Instead, take the opportunity to reflect on your business, make necessary changes, try new marketing tactics, advance through learning, and connect with your community. Doing so can help you make the most of your downtime so your construction business can rebound more effectively. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 423, And It's About Rebuilding Trust After A Negative Online Review Online reviews are an essential marketing tool for many small businesses, especially for service-based businesses like yours. They give potential customers and clients a chance to see how effective your goods or services are, how responsive you are to your clients, and what other people's experiences of your business have been. As a result, the vast majority of people check online reviews before making a purchasing decision.   When reviews are great, that's a fantastic thing. But, unfortunately, it's when you get negative reviews that you have to adjust. You can't please all customers all the time.   Here's the thing: a negative review can actually be positive for your business. So how do you rebuild trust after a client has vented their frustrations online? 1. Leave the negative review up.   A negative review doesn't have to be the end of the world. Although customers like to see five-star reviews, they understand that perfection is almost impossible—and probably a sign that something is "too good to be true." In that sense, having a customer or two provide negative feedback gives more credibility to the positive reviews. Customers expect to see a couple of negative reviews. As long as they're in amongst positive feedback, the negatives likely won't hurt you much and may even increase your legitimacy if they're handled well.   2. Respond to the review honestly. Customer complaints are a way for you to build trust with your potential clients by allowing you to respond honestly and professionally. Did something go wrong that was out of your hands? Offer an apology and explain what happened. Was there a misunderstanding? Take the opportunity to clear it up. Has the reviewer requested additional information or a solution? Respond online to show what you've done to address the situation. Did the reviewer misunderstand a policy? Explain your policy and invite them to contact you if they have further questions. Doing so shows readers that you take their concerns seriously and are willing to take responsibility when things go wrong. 3. Learn from negative reviews.   If you see the same concerns repeatedly in the online feedback, it may be time to review your services. Negative reviews give you insight into areas where your customers feel your business could make changes, so take the time to consider what you're being told. For example, it may be that you can improve on your offerings, or you need to communicate better with clients to manage their expectations.    Thank them for their feedback, let them know you're taking their concerns seriously, and explain what your next steps will be.     Final thoughts   Don't panic. A bad review or two isn't likely to ruin your reputation. On the contrary, a few negative reviews can help you gain trust with potential clients. In addition, you can use the situation to build confidence in your business by being responsive, transparent, and honest. Many prospective customers will look past a few negative reviews if you have more favorable ones. So make sure you are consistent in providing quality services and encourage happy clients to post a good business review.   If possible, make sure your responses include an apology, a statement about your commitment to your clients, and a way to continue the conversation offline if further communication is needed. Doing so will show potential customers and clients that you care about their feedback and are willing to take responsibility, but it also allows you to move the conversation to a more private forum if the reviewer isn't happy with your response.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 422, And It's About Digital Disaster Recovery For Your Construction Company Sales are about addressing your customers' needs and problems. By understanding the issues clients face, you can show them how your service solves their problems.  Here are some tips for asking the right sales questions to better understand and help your customers.  1. Don't jump into sales questions right away. Sales aren't just about making a sale, although that's certainly part of it. Instead, sales are about building relationships. That's how you make a sale today and encourage repeat business tomorrow.  When you start asking questions, don't begin by asking questions about the sale specifically. Instead, ask questions that develop a relationship and give you a chance to get to know the client better.  For example, ask questions about their long- and short-term goals. After that, move into questions about the issues they face and what solutions they currently use. Then, find out what does and does not work about those solutions. That will help you understand your potential customer, which allows you to meet their needs right now and anticipate future needs. 2. Ask open-ended questions Open-ended questions will get you the answers you need to help you offer a solution. Closed-ended questions will only frustrate you and provide you with no additional information. For example, don't ask: Is budget a consideration? "Yes" or "no" answers won't help you here because even if they say "no," what they could mean is "no, but within limits," which really means "yes."     Instead, ask, "What sort of a budget are you looking at spending?" The customer will likely give you a range and may even talk about similar past purchases or related products they are considering. Then you have a reference to frame your solution.    3. Listen to their answers   Once you've asked a question, really listen to their answer. Focus on understanding their needs and addressing them. Then, talk about how your service addresses the issue of their problem. Once you've done that, you can go into the additional benefits your product or solution offers.    Be careful not to run through a list of robotic, pre-programmed questions, either. Often, something a prospect says leaves room for further exploration. Take the opportunity to ask follow-up questions, not push your way through a list of pre-arranged queries.   Condition Yourself For Success Be-Do-Have: Be The Person, Do The Work, Have The Results. - Randalism In life, contractors produce reasons or results and, reasons don't count. Over the years, we have experienced success and failure in construction. Success comes whenever I have engaged mentors that are where I want to be. Failure always comes from engaging people who cannot produce results but think they can. To get to the truth about your construction company, you must go on a journey. It is four levels deep, and like most successes in life, it is simple but not easy.  A Story To Illustrate The Four Levels Of Truth What Contractors Want To Hear - One evening after work, a group of contractors met at the Contractor Business Round Table, the neighborhood tavern with a round table, pitcher of beer, and four contractors. They talked about how tough it is to get profitable jobs no matter what the economy is like. When times are good, it is hard to find employees; when times are tough, the phone doesn't ring. Everyone agreed there was nothing anyone could do about it. What Contractors Want To Believe - A short while later, they talked about making money and agreed that big contractors make most of the money, and little contractors were doomed to struggle. Everything Else - One of the contractors suggested maybe they could ask one of the larger, more profitable contractors and determine what they did that made the difference. This, of course, made the other contractors a bit uncomfortable. Then it happened, and they all heard and felt the dreaded Snap-Crackle-Pop! The contractor who suggested asking for help experienced a paradigm shift and broke through to the other side. This contractor began leveling up! Suddenly they all remembered what that The Contractors Accountant, Randal DeHart, had said about leveling up. "As you develop your Business Strategy, your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different." Truth - Is whatever you believe, and you will look for evidence to support your truth. Part of our truth comes from some of the writings of Og Mandino, and hopefully, you will find value in this one as well: The Salesman’s Prayer Oh creator of all things help me for this day I go into the world naked and alone, and without your hand to guide me I will wander far from the path which leads to success and happiness. I ask not for garments or gold or even opportunities equal to my ability; instead guide me that I may acquire ability equal to my opportunities. You have taught the lion and eagle to hunt and prosper with teeth and claw. Teach me how to hunt with words and prosper with love so that I may be a lion among men and an eagle in the marketplace. Help me to remain humble through obstacles and failures yet hide not from mine eyes the prize that will come with victory. Assign me tasks to which other have failed, yet guide me to pluck the seeds of success from their failures. Confront me with fears that will temper my Spirit yet endow me with courage to laugh at my misgivings. Spare me sufficient days to reach my goals; yet help me to live this day as though it be my last. Guide me in my words that they may bear fruit; yet silence me from gossip that none be maligned. Discipline me in the habit of trying and trying again yet show me the way to make use of the Law of Averages. Favor me with alertness to recognize opportunity, yet endow me with patience which will concentrate my strength. Bathe me in good habits that the bad ones may drown; yet grant me compassion for weakness in others. Suffer me to know that all things shall pass; yet help me to count my blessings of today. Expose me to hate so it not be a stranger; yet fill my cup with love to turn strangers into friends. But all these things be only if thy will; I am a small and lonely grape clutching the vine, yet thou hast made me different from all others. Verily there must be a special place for me. Guide me, help me, show me the way to become all you planned for me when my seed was planted and selected by you to sprout in the vineyard of the world. Help this humble salesman, guide me God. - The Greatest Salesman in the World by Og Mandino Final thoughts Asking questions is vital to get valuable information from prospective clients by helping you understand their needs, priorities, and problems. By showing customers, you can listen to them and understand their needs; you build an important connection with them to provide them solutions. That connection may also be what keeps them coming back to your contracting business. That's how you build valuable relationships with clients. Got a question? Let's talk. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 420, And It's About Digital Disaster Recovery For Your Construction Company Emergencies can happen in the blink of an eye. Gmail, Yahoo, MSN, and social media are all in the cloud. When disaster strikes, flood, fire, theft, earthquake, or a lousy bookkeeper deliberately destroying business records or computer crash, you are protected against data loss by these online programs. Buy another computer, set it up, and you are back in business.   What about your bookkeeping records? Your customer list? Who owes you money? Who you owe money to? Payroll? Employee advances and loans?   Job deposits, sales tax reports due, the list goes on. You never realize how much you depend on your Construction Accounting System until it is gone forever!   What about your contracts, bids, other hard copies of documents you use to operate and grow your construction company?   When you run your own contracting or trade business, your life involves many long days being on job sites while managing projects, staff, and clients. There probably are not enough hours in the week for you to deal with all the issues that arise while keeping your customers happy, and taking time out of your schedule to manage your business is probably the last thing you want to do. Thanks to a variety of online software companies, running your business is now a lot easier. You can efficiently manage your projects, employees, finances, and records through your computer or tablet, freeing you up to focus on your clients.  With the following recommendations, even when a digital disaster strikes, your accounting data is secure because it is backed up daily on remote servers, which means, again, buying another computer, setting it up, and being back in business. Get a subscription to Box or DropBox and regularly scan important documents and store them there. It will take some effort to set up a file structure and maintain it, but it will be worth it when you lose your work or personal computer. Xero Unless you're an accountant, anything to do with finances probably isn't on your list of fun activities. You don't want to spend your time writing up invoices and chasing down clients for payment or tracking and reviewing your expenses. Instead, you want your energy to go to an exciting project or finding a solution to a client's problems. Xero lets you do just that. It offers a user-friendly invoicing system that allows you to accept payments through the software. In addition, you can connect Xero to your bank account, so transactions are imported to your Xero account daily, meaning you don't have to enter them manually. You can even manage your inventory and conduct bank reconciliation through the program. All those stressful accounting tasks are taken care of with minimal effort from you. You can review reports from home after hours. You can work on a Bid, Estimate, Change Order You can check your payables and pay bills If there is a problem – much easier to take proactive action and Lock The File Down. QuickBooks Desktop In The Cloud How much of your time do you spend hunting down financial documents, poring over spreadsheets, and tracking expenses? Searching for and trying to integrate scattered data makes it nearly impossible to quickly and efficiently close out the monthly books. Manage your business finances faster and more accurately by moving them to the cloud. QuickBooks Desktop In The Cloud has several benefits, including: Integration with all your other construction operational systems for the quick retrieval of the most current data; Automation of daily financial processes so you can step away from spreadsheets; Efficient expense tracking that improves accuracy and reduces revenue leakage; and Secure collaboration with team members and stakeholders. Why do I like using Cloud-Based Servers? For all the same reasons, every Contractor has web access to their bank is to see "The Numbers!" Money In: Have my Deposits posted and cleared?  Money Out: What checks have cleared? What's Left Over: How much money is in The Bank? Most business owners like you find that working regular hours of 9 to 5 is not realistic. Being a contractor, your hours are dictated by your prospects, customers, and clients' needs. This means as a Contractor, you may be creating an estimate, proposal, invoice, paying bills, or making an electronic deposit to your bank before 9:00 AM or after 5:00 PM (Monday - Friday). You are working in the early mornings, evenings, weekends before breakfast or after dinner, on Saturdays or Sundays. Usually, some time is devoted to business when you are on vacation. Challenges for contractors with staff can be solved with QuickBooks Desktop In The Cloud: You can review reports from home after hours. You can work on a Bid, Estimate, Change Order You can check your payables and pay bills If there is a problem – much easier to take proactive action and Lock The File Down.  Backing up essential documents on a separate hard drive is necessary, whether you're using cloud computing or not. But in the case of a natural disaster that denies you access to your premises, QuickBooks Desktop In The Cloud can be advantageous. Final thoughts Because you can access your documents anywhere, there's an Internet connection; cloud computing can be vital to ensure business continuity. The last thing on your mind is packing up your business records and computer. Accessing our cloud server is available to outsource and do-it-yourself clients. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 420, And It's About Optimizing Your Construction Business Website for Local Searches   For most construction businesses, increasing sales during this time will be very beneficial and may provide some much-needed cash flow relief.    Local search engine optimization (SEO) is an integral part of any online marketing strategy for traditional businesses which serve a specific geographical area.   Local SEO works in much the same way as standard SEO, although some significant differences are considered. Taking the time and trouble to optimize your website for local is essential since about a fifth of desktop queries and more than half of mobile searches have local intent.    To capitalize on this fact, you'll need to make sure that your website appears in local searches. Fortunately, local SEO is somewhat more straightforward than regular SEO, which is significant because it is less competitive.   The first step to optimize for local searches is to include your regional keywords, such as the name of your town or city or any other areas which your business services, in the following areas of your website: Your website URLs (particularly for landing pages) Page titles  Meta titles and descriptions  h1 and h2 HTML heading tags Throughout the content of your site, provided it is relevant and done sparingly Any local business should also have a footer that appears on every page of their website. The footer should contain your address, postal code, and phone number. All information must be identical to any other online listings you have either on social networks or local directories. You should also provide a link to your Google Local listing. Another critical element of local SEO is to have appropriate landing pages. Your landing pages should include keywords and phrases referring to your business's location or service area - be careful not to overdo it since Google will penalize sites for over-optimization.  Construction businesses with multiple service areas should ideally have separate landing pages for each one so that people will still find you in Google when carrying out local searches. Each of your landing pages should provide relevant content, including information specific to the particular service area it applies to. Other Online Resources for Local SEO   Optimizing your website is only one part of the local SEO process. There are many other critical online resources which businesses should use to increase traffic and raise awareness. The most important ones, which any local company should use, include the following: Google My Business (GMB). It is a free tool that allows you to promote your business profile and business website on Google Search and Maps. Even if you don't have your website, the most crucial resource for local businesses is GMB. Claiming and verifying your business's listing on GMB will help enormously in your efforts to appear in local search results. Bing Places. Microsoft's version of GMB might not be as popular, but it is still too important to ignore. It works in much the same way, allowing you to claim and verify your business's physical location and have it appear in Bing Maps and on mobile devices running the Windows Phone operating system. Yelp. Yelp is an online urban guide providing local business listings. Yelp recently replaced the relatively unsuccessful Apple Maps app for iPhones and iPads, and these devices now use data from Yelp to display local information with their included mapping apps. Given the enormous popularity of iPhones, the advantages of getting listed on Yelp should be obvious. Foursquare. The number one location-based social media website, Foursquare, allows users to find local businesses quickly and 'check in' to specific locations. Setting up a profile on Foursquare is a quick and straightforward process that will also help you in your local SEO efforts. Local SEO is mainly about getting listed in local online resources and optimizing your online content both on your website and other platforms, in such a way that it makes references to location-relevant key phrases and regional names rather than using generic keywords.  Your construction business listing must be entirely consistent across all of the platforms you use, particularly since it won't be easy or practical to change them later on. (Related Blog post here) Final thoughts Everyone is trying to get more value for the money they spent in their business. Invest your marketing dollars wisely by optimizing your website to appear first on the local search engine page. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 419, And It's About Becoming A Better Construction Manager By Developing Accountability The success of any business, large or small, depends considerably on nurturing an efficient, productive workplace.   While improving employee productivity should always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done.   Being a better construction business owner is not just about the habits you practice in front of others. It is often about the habits you practice behind closed doors that make you an easy person to follow.   Whether you work alone or managing a group of people, practicing accountability matters. Accountability is a touchy subject that can make many people feel uncomfortable, but it protects you as a leader and can exponentially increase the level of influence you have over a corporation or group of followers.    Here are a few ways you can develop the kind of accountability that makes you a better construction manager. Set clear expectations for yourself As a business owner, you need to have a clear set of expectations of what you will do and what you will never do. This can go for your personal life as well as your professional life. If you are going to be an accountable person, you need to know what you are responsible for in no uncertain terms. Establish an accountability partner Establishing an accountability partner is as simple as finding a person you trust, telling them the expectations you have placed on yourself, and asking them to follow up with you regularly to ensure you haven't lowered your standards. In finance, it is imperative to have someone you are accountable to.  Countless construction companies each year get in legal trouble for laundering funds or evading taxes; when you are the project manager and provided with access to company finances, make sure there is someone within your organization that goes behind you to check invoices and balances, this could save you a massive headache in the long run. Establish a board of directors (or an accountability group) Depending on the size of your business, your board of directors could be employees that are on the payroll, or it could be friends and family members that volunteer as advisers.  Your board of directors needs to have at least a moderate amount of business sense, and they need to be easy to reach in crisis. Should you ever find yourself in the position of making a big decision quickly, you will need to access your board of directors to either obtain their permission to act or discuss alternative courses of action. An accountability group can help you strategize for future growth and set goals that move your business forward. Most importantly, checking in with other people regularly to report on your progress makes it much more likely that you'll take action and get things done. Allow the people you lead to question you Allowing employees to question your methods does not mean you are allowing them to question your authority. If you have an employee that is feeling uncertain about a leadership practice or division in your company, you should establish an open-door policy and allow them to ask difficult questions.  It is okay for specific issues to remain private, but use your best judgment to determine how to respond to their questions and be as open and honest as possible. Hold yourself to the same standard you hold others to As a business owner, you likely invest in a particular security or monitoring service. It is essential that you adhere to the same policies and procedures others are expected to.  Suppose your building has a strict internet security policy; set your work computer up with the same internet permissions as others. If you regularly monitor employee chats, make your conversations public record. Anything that needs to be discussed privately should be consulted on paper or in-person to avoid legal trouble and confusion.  Final thoughts As intimidating as developing accountability looks from the outside, it is a precious asset that no business manager can afford to be without.  Accountability can protect you from legal backlash and disgruntled employees. When you make an effort to be the same leader behind closed doors as you are in front of those you are leading, they will know you are a trustworthy person who is worth following. As always, you don't have to go through these alone. Whether it's about construction accounting or accountability - let me know how I can help. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 418, And It's About Steps Construction Company Owners Can Take To Avoid Employee Fraud Billing schemes. Skimming. Check-tampering. Employee fraud is a real risk for businesses with fewer than 100 employees. In fact, according to the Association of Certified Fraud Examiners, small businesses lose almost twice as much per scheme to occupational fraud. If you Google Search "Construction Bookkeeper Embezzlement," you will see thousands of hits, and most of the problems construction companies suffered could have been avoided if the owner had known about and followed a few simple guidelines. Unfortunately, until a contractor has gotten to know us, they tend to think of us as just another contractor's bookkeeping service. This means some contractors think we are crazy to suggest that any trusted employee, especially an in-house bookkeeper, would steal money from their company, and so they ignore us until it was too late. Be aware of the "Employee Theft 10-10-80" Rule Discovered over many years of experience and first-hand observation by auditors, accountants, fraud examiners, anyone involved in detecting employee theft. Ten Percent - Of all employees, including bookkeepers, will steal in a variety of ways from office supplies, petty cash, graft, kickbacks, and payoffs from your suppliers, vendors and sub-contractors and even hundreds of thousands or even millions of dollars. They will do it regardless of how many security systems are in place because they lack integrity and have a "taker's" entitlement paradigm that states: "It Is Better To Take Than To Make." They cannot be stopped, only caught! And only then if you have systems in place and if you can convince the criminal justice system to take action, good luck with that! Ten Percent - Of all employees, including bookkeepers, will never steal because they have integrity and a "Producer's" paradigm that states: "It Is Better To Make Than To Take." In the end, these are the people who will add so much value to your company you cannot help but reward them with more money, benefits, and recognition. Because if you do not, they will be recruited by your competitors.  Eighty Percent - Of all employees, including bookkeepers, will steal if they feel confident they can get away with it and if circumstances allow for it due to weak integrity and a sense of "Redistributing The Wealth, But Not The Work Or The Responsibility." Recognize the most common signs of fraudulent activity before an unscrupulous employee destroys your construction business: Identify high-risk employees When an employee has something to hide, their behavior may become suspicious; they may act closed off, secretive and defensive. A typical clue is a worker who won't take time off for a holiday (because someone may take over their duties and discover the fraud). Others will try to cover up their improved financial status - a new car or home, for instance - with tales of a lottery win or inheritance. In addition to employees acting suspiciously, high-risk employees might also include those: struggling with debt dealing with mounting bills because of unfortunate circumstances (e.g., divorce, a family member's poor health) with a history of drug abuse  involved in risky financial ventures (e.g., gambling, investments)  If an employee has a motive for fraudulent activity at work, think of the following behaviors as red flags. Access and opportunity Unsurprisingly, the highest risk employees for fraud have trusted roles in financial services: Accounts Payable, Accounts Receivable, accounting, and bookkeeping. To commit fraud, or in this case, embezzlement, an employee must have both access and opportunity - that is, access to funds, banking records, and accounting data. The ideal situation is someone entrusted with performing multiple roles; that is, they can both cut and sign checks, process AP, and handle bank reconciliations. Unmanaged Control Access is just one part of the equation when it comes to employee fraud. Also, keep a watchful eye on employees who exert control over certain aspects of their job.  For instance, they may insist on: working unnecessarily long hours  working outside of regular business hours performing specific job duties and refusing to share individual tasks only dealing with a particular supplier or vendor* * A common employee scam is known as "purchasing fraud" when a supplier or vendor inflates an invoice amount, the employee cuts a check, and both parties split the difference. Red flag scenarios Monitor your financial records closely, and investigate if you come across the following discrepancies: Mismatched payees: the name on a cashed check doesn't match the name entered in the general ledger Identical payments:  two checks have cleared for the same amount to different vendors in the same date range; one may have been authorized on the strength of supporting documentation for the legitimate payment.  Questionable companies: a supplier or vendor with unprofessional invoices (i.e., apparent errors, a missing or incorrect address, home address, or non-existent web presence) Construction Bookkeeping Embezzlement Bad Bookkeepers will leave you with unfiled and unpaid taxes. They come in every race, creed, color, gender, age. There is no definitive profile, no absolute way to know which contractor bookkeeper is an embezzler until they have been caught and convicted, and even then, if you do not perform extensive background checks, you may never know it until it is too late. Just because you catch a bookkeeper embezzling funds, don't think for one minute they will always be punished and made to pay you back. For the most part, you must understand that employees are poor innocent victims of brutal greedy business owners in the eyes of the public. I have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases, it was Bookkeeper Incompetence or Bookkeeper Embezzlement, and in other cases, it appears to me there may have been some deliberate identity theft; however, I cannot be certain. All I know for sure is that I have witnessed business failures that have led to divorce, families destroyed, finances wiped out, and people living on the streets. In a few extreme cases, I know of contractors who have taken their own lives, and this needs to stop! Final thoughts Now that you know how to spot the most common warning signs for employee fraud, your management team must take steps to combat it. Let this post be a reminder to watch for suspicious employee behavior. Segregate financial roles, so no one has unlimited access, control, or opportunity - and ensure your bookkeeping is always up to date so any "red flag" scenarios can be dealt with promptly. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 417, And It's About Winning Tactics For Contractor Paperwork 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.   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. Here are my Paperwork Tips: Save your receipts If you have it in paper, get a file box and toss in all the gas, food, miscellaneous receipts paid by credit card. Make a note on the receipt. You have the receipt for backup. I remember a story where someone needed to prove where they were. Charges on the credit card statement weren't enough.   Make individual file folders For your state taxes, quarterly payroll reports, W-2's, 1099's. Other helpful folders are for your Bond, Liability Insurance, Worker's Comp Insurance, Tools, Office Equipment, and Cell Phones. All the statements you may need to reference over and over again and Receipts with extended warranties. Print a copy of the contract with your client An electronic signature is fantastic. Use a service that will time and date stamp in case of a dispute or an issue arises. If all goes well, then The Signed Contract is just another piece of paper. I have heard stories of customers altering the contract, and the contractor did not double-check. Magically things happen with software. Be sure what the client signs are the exact copy of the agreement you sent them and expected to be signed. Take credit cards Use multiple services if that is what is available. If you use a service to send your contracts for signature and have a Merchant Services feature, sign up for it. Everything that happens seamlessly is the best. Approval Now + Authorization of Payment means you have real money (their money) to start the job.  OPM (using Other Peoples Money – meaning you are using the client's money to start, continue and finish the job). Build in the Merchant Services Fee into your pricing. Cost of doing business.  Many contractors lost money on Groupon Coupons as customers only do the One or Two Rooms as was prepaid on the coupon. (Example Carpet Cleaning – Drywall Patching)  Use an invoice built on Excel Word is pretty and is needed for all the descriptions. But to properly get the money you expect to be paid, you need a form that adds up the money.  Do not call all the payments a Job Deposit from beginning to end. Call it a Statement, Progress Invoice; once work is approved, it is no longer an Estimate or a Work Order. If you are in a sales tax state (Washington State) and need to collect sales tax, add sales tax to every invoice.  Customers have selective memory. Be sure to use "Plus Applicable Sales Tax" on the Estimate, Contact, and future billings. If sales tax increases, you need to be able to pass the increases on to the customer.  Identify which job it is Contractors who are doing remodel projects like to have job costing. To achieve primary job costing reports, the accounting software needs to know what job the expenses should apply to.  Many contractors will create a single file folder and drop all of the individual receipts in it. This is handy if they have outsourced their bookkeeping and needed to give their bookkeeping to others to enter into accounting software (QuickBooks). A straightforward way to add more detail for bookkeeping is to have accounts with the primary supplier. The person at the counter will ask you if you have a PO (Purchase Order). Purchase Order does not need to be complicated. Job Name and Job Address. Why both name and address? Because the name that pays the bill may not be the same as the nickname that you know your client as. Examples: Bob, Bobby, Rob, Robby, Robert or Bill, Billy, Will, William may be the same person to you but not to the bank or credit card company.  Always exciting when Spouse, Family member, or good friend helps pay your invoice. From the Accounting side, next week, next month, next year, will you remember which job the individual receipts are tied to?  Keep good records For larger projects – use a file folder for each invoice, especially if you are billing Time & Material or Cost Plus.  Customers will randomly want to confirm the cost of some or all of the items. Does your customer want copies of all receipts?  Does your customer want to nitpick the price of each 2x4, cost of temp, service, and every dump fee?  Does your customer agree verbally to Change Orders but give excuses when asked to confirm changes on paper or by email?  Does your customer hide when you ask for payment? Conclusion: Remember, if you are sick and tired of doing administrative tasks such as handling your documents, we are here to remove your paperwork frustrations. Although a 100% paperless office is not the complete answer, we can certainly help you reduce most of it. In most cases, we can help contractors like you eliminate over 50% of your paperwork; the related savings and increased production more than pays for our services. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 416, And It's About If My Construction Business Is Making A Profit Where Is The Cash Some construction business owners find themselves in the difficult position of running a business that appears to be profitable but still having no money in the bank. It's a critical situation to address. After all, a lack of adequate cash flow is one of the leading causes of small construction business failure.    Here are three reasons why profitable construction businesses have little money in the bank and what company owners can do to handle these tricky situations.  1. Using business money for personal reasons Owners may be using their business bank account as a personal bank account, withdrawing the money as they see fit. Of course, business owners need to earn a living. Instead of using the business account as a personal account, you should give yourself a wage and transfer that from the business account to your personal account at set intervals. If your personal money runs out, you can't go back to the business account for more money until your next withdrawal date.  Regular use of the business account, even for relatively small amounts, adds up and can have a drastic effect on your business's cash flow.   2. Not collecting payments Construction businesses need to make money, and they do so when customers pay their bills. Not sending out invoices promptly, not following up when customers fail to pay, and not conducting adequate credit checks on customers all put cash flow in jeopardy.  It's best for contractors like you to send out invoices with clear payment terms and follow up immediately if customers violate those. You can also put procedures in place to avoid customers who are unlikely to pay for work done or mitigate the damage if clients attempt to get away without paying. Requiring deposits, for example, are a great way to manage both cash flow and customers.  When doing a construction project, do not be a banker! Invoice early and often and get change orders signed. There Is A Hall Of Justice, But There Is No Hall Of Fairness No law says there have to be change orders. A lawyer may enforce a verbal contract; however, for contractors, unless you have something in writing, it is my opinion that construction contracts are fixed in stone. If a deal states, "I will pay you $X to do Y scope of work," your customer cannot force you to do more, and you cannot do less than agreed. Change orders can protect you and your client. Change orders give contractors leverage because you can refuse to make the change unless you are paid. 3. Not preparing for tax season Many small construction business owners see taxes as something they can worry about later. Then tax season rolls around, and they don't have enough money set aside to pay the collector. In some cases, a construction business may have suddenly had a significant profit increase but have not increased the amount set aside for taxes.  Treat your taxes as a regular expense. Set money aside each month to pay taxes. Suppose there is a drastic increase in profits, set aside even more money. Being prepared is far better than being caught with too little.  Final thoughts There are steps you, as a construction business owner, can take to ensure that your business makes a profit and has money in the bank. First, you should learn how to read and understand your balance sheet and Key Performance Indicators (KPIs). These show how much money is coming in and where it's going. It also highlights which customers aren't paying their bills.  Contractors should also avoid using the business bank account for personal expenses. Instead, you should pull a set amount of funds to your personal account and limit your personal expenses to that amount. Finally, you must understand your liabilities. Liabilities affect how much cash is available for your business, and even minor penalties add up quickly. Know how much is owed, how much is paid monthly and when those bills are due.  By keeping track of the money coming into your construction business, where it goes, and when it leaves, you can get a better handle on ensuring your business not only makes a profit but has money in the bank.   Got a question? Let's talk. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 415, And It's About Proven Practices To Collect Construction Client Payments Effectively All construction contractors have experienced bad debt's financial pain, which is defined as a customer who refuses to pay no matter what you do. We've been there before, and it will probably happen again in the future. Owning and operating any business, including accounting, means sometimes you provide goods and services and not get paid. Knowing The Answers Helps "If you know the answers, the questions will not bother you" - Randalism. When you sat for an exam or a school test and knew the material forwards and backward, it was fast and easy. The exams and tests for the classes you struggled with were the opposite. In your construction company, it is the same; you need the answers to develop understanding, which helps us all let go of the past and move forward. The larger your construction business grows, the more likely you could end up operating as a bank without the hundreds of ways to generate revenues from fee income and interest calculation that banks use. The most popular method designed by investors and developers and shrewd business people who understand the concept of divide and conquer is for contractors to get little or no down payment for a construction project, do all the work, including change orders, and then try to collect their money. The least popular method is getting work orders, contracts signed, and deposit checks before starting the project because most of us were conditioned from childhood through adulthood and beyond not to ask for money. Some construction company owners are gung-ho about doing the work and yet are embarrassed about asking for money. Here are the best construction client payment practices that worked for our company and clients: 1.Separate the good from the bad. Not everyone who never pays you is a bad person. Sometimes things happen which are beyond their control. We have clients who have experienced situations beyond their control in all of our companies, and when it is legitimate, we have been known to issue a letter stating the debt is canceled, and they owe us nothing. Oddly enough, most of them paid the debt years later, and all of them were very appreciative that we treated them with courtesy and respect. Some people are just bad, like Bad Bookkeepers, and I would rather be the person who was taken advantage of than the one who took advantage. Do whatever you think is within reason to collect the debt and no more. 2. Offer payment options. You are not a bank, so never, ever use your high-interest credit cards and supplier accounts to provide financing to your customers in the form of offering a lot of labor, material, subcontractors, and rental equipment, hoping to get paid later on down the road. You can offer to finance by getting a merchant account setup at a bank or credit union that will contribute to loan your construction client's money for small projects. Your construction client signs paperwork with the lender; you do the work and get paid. Accepting credit cards is another way to offer to finance, and it is like having an "Electronic Armored Car" on standby 24 hours a day, seven days a week, ready to automatically take your money to your bank. If your QuickBooks is set up correctly, an invoice can be emailed to your customer or clients, and when they open it, there is an option for them to pay by credit card immediately. Ask and receive job deposits and progress payments so that you are always using "Other People's Money" (O.P.M.) to pay for the labor, material, subcontractors, rental equipment, and overhead of their construction projects. 3.The right mindset. Finally, consider the 80/20 rule, which means investing your time and energy in the highest and best use, for example: Which action is likely to yield the highest return on your investment of time and energy and put the most money in the bank:   #1 Chasing a client who cannot or will not pay?   #2 Focusing on your top 20% clients and finding more of them?   We work with many contractors, remodeling contractors, and tradespeople, and we coach the ones who listen to not sweat the small stuff and instead focus on developing a system that can help you win the big game.   Which Is Better?   #1 Annual sales of $250,000 with $45,000 net income including your salary              #2 Annual sales of $2,500,000 with $350,000 net income including your salary   The right answer is whichever one lets you sleep well at night! We show only the necessary tools to open your mind to the possibilities that are available to you.  Final thoughts Having owned and operated several construction businesses, we know how vital cash flow is to any business's success or failure, especially construction companies like yours!   The right mindset and method will help you avoid client payment problems. The best finish carpentry tools in a golf professional's hands without proper carpentry training will not produce anything near to what a skilled finish carpenter can. The same can be said about the best construction business consulting and accounting tools in an experienced finish carpenter's hands. Moreover, we say that with respect and admiration for everyone in construction. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 414, And It's About Leading Contractors Successfully Through Major Organizational Change We are all currently experiencing and adapting to present pandemic times. We've probably adjusted our business model to cater to our clients, new and existing. Construction business change is almost always a good thing, but often poor management means that the workforce becomes disengaged and the change process painful. In the worst cases, this results in irreparable damage being done. It doesn't need to be this way. Follow these steps and empower yourself to lead your contractors through significant organizational change successfully. 1. Understand the change Make sure you understand precisely what is changing and how it affects your people. Speak to whomever you need to ascertain this properly. You need to know what the impact is on your people and the jobs they do.  Educating yourself will mean you're better equipped to communicate with your staff. It will give them confidence that you are the right person to lead them into the unknown. It will also relieve their anxieties, as they will trust you to keep them informed and look after their individual and collective interests. 2. Communicate effectively Regular and varied communication is essential in managing change. Initial briefings to employees should be face to face, with adequate time set aside to prepare beforehand.  They should be delivered by an appropriately senior manager who also has excellent presentation skills and a natural delivery style. The audience needs to be engaged, not alienated. In the future, set up a recognized channel that will control information flow on daily developments.  This could be an online micro-site or a newsletter or bulletin. Ensure the tone and language are upbeat and that the positive messages the business wants to promote about the change are a recurring theme. You should consult with your marketing team for advice on how to do this effectively. 3. Consult with your people Consult staff on their views and provide clear channels for those opinions to be received. Consider providing an email address to receive questions, or if you have set up a micro-site, set up a message board that allows for questions and answers to be posted online.  It is equally important to ensure you are responding swiftly to those questions. It's a good idea to set up and publish an FAQ list, preventing answering the same question multiple times. This will also help inform the content of future communications through understanding the hot topics.  Ultimately, the change may be mandatory and not open to amendment, but even if this were true, communication must still be a two-way street. If you don't demonstrate an active interest in employees' views, you risk an outright mutiny. 4. Use your champions Identify the characters in your team that are positive about the change, and pick out one or two popular to hold or sway over their teammates. These are your wingmen, and it's essential you tap into that resource early. Get them on the side and meet with them regularly. Explain the critical role they have to play in helping others to stay upbeat. As well as being a supportive and positive voice amongst the people, they are also your eyes and ears, in a position of trust with colleagues. This means they will pick up on potential concerns or flashpoints early and bring these to your attention in confidence.  Your champions will play a pivotal role in supporting managers; positive voices from the populace are invaluable. 5. Control the dissenters The negative voices in your team are often the loudest and most influential. You will have several people in your organization who are confused or undecided about how they feel about the change. They are susceptible to being convinced by your team's detractors, who will attempt to rally them to their cause. If all those sitting on the fence jump off on the wrong side, your life will worsen. Don't let that happen.  Target those dissenting staff members and speak to them individually. Show empathy and understanding of their concerns but explain their colleagues' impact on their negativity's open expressions. Try to get them involved in meetings, taking an active role in being a critical but objective voice.  But ultimately, if their views are extreme and it's clear they intend to persist being a disruptive influence, then take a hard line. Tell them their behavior is not acceptable and could lead to disciplinary action on the grounds of their conduct. 6. Maintain the business Don't let your team lose focus on their day-to-day responsibilities and the running of the construction business. There will inevitably be some impact on productivity during a major change. However, there is a limit to this, and staff needs to be reminded that their traditional roles and responsibilities remain. Plan briefings and communications to minimize the impact on your resources, and by extension, your customers. 7. Toe the line A lack of professionalism and objectivity of managers can spell disaster. Even if you feel that the business change is fundamentally wrong or concerns your seniors' judgment, you must not reveal this. You need to maintain the party line and express the changes in favorable, objective terms.  Discuss your concerns with others you trust in the business if you need a sounding board, but be very careful whom you confide in.  8. Manage outside influences The change may attract outside attention from the local or national press or pressure groups. This might happen if your organization is huge, in the public sector, or a regulated or contentious industry. In these cases, you also need to be aware of the effect of these outside agencies' activities on your employees. You can rarely exercise much control over external media, but you can make sure your finger is on the pulse. This will allow you to react quickly if an external event occurs that's likely to cause disruption or concern. Final thoughts Change doesn't have to be stressful and unpredictable, providing you to plan and stay in control. The key to success is keeping your construction employees bought into the objectives and engaged with the change mechanics. Following these steps will ensure you do that and allow you to successfully lead people unscathed through even the most major organizational change. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 413, And It's About The Ugly Truth About Doing Your Construction Company Payroll Still Doing Your Payroll? At face value, it seems like a great idea.   If you're a small construction business owner with just a few employees, you probably think hiring a payroll specialist is an expense that you can avoid.    You feel that you can handle it yourself. You have the best intentions to keep your staff paid and on time. What could go wrong, right?   Well, lots. Here are 3 reasons why you should stop:   It's a time waster If you don't have a finance background, you'll likely spend a substantial amount of time calculating employees' work hours, computing for taxes and other deductions, creating payslips, processing, and filing. Even if you have a bit of a bookkeeping background, are you sure you want to spend your precious time doing these tasks instead of focusing on your construction business's core aspects? You don't need to study the ins and outs Sure, you can learn about relevant tax adjustments and benefits procedures if you want to. But then again, you'd be spending more time educating yourself, not to mention the possibility of making costly mistakes.  On the other hand, a payroll specialist knows the ins and outs of taxes, overtime, contributions, sales commissions, and bonuses. The bottom line is: another professional can do it better, and while they're at it, you can get back to doing what you do best-- like growing your construction business! It may cost you more to do it yourself One of the most common mistakes of construction business owners is that they think they're saving money by doing everything on their own. Remember, time is money-- and as mentioned earlier, instead of dedicating your time doing tasks such as payroll, you can spend it more efficiently on business activities that drive profits and growth. If you get your payroll wrong or fail to do it on time, you can get penalties that are not fun. These are also avoidable if you entrust a payroll specialist. A Better Approach If you think hiring a full-time in-house payroll staff is not practical, you can always come to us and let us take care of your payroll. Whether you need weekly, fortnightly, or monthly processing, our team is flexible enough to do it for you.  When contractors ask us which payroll option we recommend most, often we say Direct Deposit. As usual, the reasons are simple and related to our primary role as "Profit And Growth Specialists For Contractors" and our mission, which helps you - the men and women of the most significant industry on earth - the construction industry, to achieve your definition of success.  Option 1 - Paper check looks like the least expensive. Calculate payroll, handwrite or print a paycheck, hand it to your employee, and done. What is the first thing an employee does after getting a paper paycheck? They go to the bank or the check cashing store and get cash! If they are paid for travel time to and from the job site, they will typically cash their paycheck to the job site or take a break as soon as the bank opens. Having this scenario in mind, there are three costs to consider:  #1 Travel Time - See What Is Ten Minutes Costing Your Company and multiply by three! Because it will take ten minutes each way to detour to and from the bank or payday advance company plus ten minutes inside the building. For example, you pay your employee $25.00 per hour, which means every ten minutes of doing personal business on company time costs you $5.94, multiplied by three equals $17.82. If your company earns 10% Net Profit, you need to sell another $178.20 worth of work to compensate for the loss you suffered. If there is more than one worker in the company vehicle, multiply everything by that number. #2 Cost Per Mile - To operate the company vehicle, which varies depending on the type of vehicles your company uses. Generally, the numbers we see range from $1.25 to $1.75 per mile. This takes into account Fuel + Insurance + Repairs + Maintenance + Registration + License divided by the number of miles driven. In this example, we estimate a three-mile detour at the middle range of $1.50 per mile = $4.50 #3 Delays On The Job - In construction, you are dealing with project-based systems, not operations or manufacturing-based operations. Every additional day you have to mobilize and de-mobilize costs you money. For example, if it takes (15) minutes for (4) workers to get set up in the morning and the same amount of time at night, your total costs could be $121.92. Total cost for paper checks - between $15.00 and $50.00 per employee. To get the actual results for your company, some analysis would need to be run, or you would look in your Business Process Management System (BPM) for the answers. Option 2 - Direct deposit could cost an additional $5.00 per payroll and $0.99 per deposit. Direct deposit drops into your employee's bank account one minute after midnight on the day payroll is due. Having a Professional Bookkeeper prepare the payroll is less with direct deposit because of the time saved in making and printing the paper checks, setting them aside for you to sign them, stuffing them in the envelopes, and taking time to pass them out. Option 3 - Debit Card is similar to a direct deposit. The difference is that the employee does not need a checking account. Final thoughts As payroll experts in the construction industry, we can keep your employees happy with timely and accurate wages, maintain tax compliance, and significantly ease your back office burden. Profitable construction companies have known the value of outsourced bookkeeping services. Remember, you deserve to be wealthy because you add value to other people's lives. So get in touch with me today and give yourself the peace of mind you deserve! 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 412, And It's About The Right Accounting Software Can Increase Your Profits Most construction business owners who use accounting software quickly master the basics. They automate processes like invoicing and payroll, track expenses, and view real-time financial reports to manage cash flow and make better business decisions.  What three reports do you need for your construction business? #1 Cash On Hand - This report shows you how much cash you have in your checking accounts, savings accounts, payroll accounts, hip national bank (your wallet), and petty cash box in your office.  #2 Cash Coming In - This report shows you how much cash your customers and clients owe you and how much of it will be likely to receive in the next 30-60-90 days. #3 Cash Going Out - This report shows you how much cash you owe yourself, suppliers, employees, and the taxman and how much of it will be likely to pay out in the next 30-60-90 days. It used to be QuickBooks was the only real option for construction companies to generate a decent set of Financial Reports and Job Costing Reports, and that is still true. Our biggest pain point with QuickBooks has always been it is like a large semi-truck with two trailers capable of moving massive amounts of data which is great if your construction company needs Work In Progress (WIP) Reporting, Pay Application Invoicing For Large Residential Remodels, Pay Applications For Commercial Tenant Improvement (TI), Job Deposit Tracking, Retention Tracking, Schedule of Values, Complex Job Costing Reporting Services and other construction reporting which we provide. What about the contractors and service companies like plumbing contractors, electricians, handymen, drywall repair, carpet cleaners, HVAC, remodeling contractors that have jobs lasting a few days, locksmiths, and hundreds of other service companies? Xero Accounting Online To The Rescue The short video below shows side by side the primary Financial Reports contractors need in living color. Please take a look and leave a comment; we want to know what you think. Do You Own A Small Contracting Company? Do you look forward to the day where you can press a button and know where all your money is because it is stressful to wing it like you are doing now? Perhaps you own a service and repair firm specializing in plumbing, electrical, HVAC, or maybe a handyman service or someone who does small construction projects that last from a few hours to a few days, and you only need to give your customer or client one invoice? If this describes you, then perhaps Xero is a better fit for you than QuickBooks. We offer both Xero and QuickBooks bookkeeping services for construction contractors and have found the dividing line is how you get paid. QuickBooks Works Best If You Take Job Deposits Have Change Orders Issue Multiple Invoices Need Job Costing Reports Need Payment Applications Periodic Invoices For Bank draws Need Complex Construction Accounting Reports Xero Accounting Online Works Best If You Have Simple Jobs With One Invoice Need Basic Key Performance Indicator Financial Reports Now that you have a better understanding of the right accounting software for your construction company, it's time to take advantage of critical insights that can improve customer care and increase sales.  Gain insights that increase sales If you're not tapping into your QuickBooks or Xero analytics to better understand your customers, you're missing a major opportunity to close more sales. Most accounting software can highlight your biggest spenders and buying trends. How would knowing who your best customers are, your biggest selling services, and how much each customer spends impact your marketing decisions – not to mention help you fine-tune your sales strategies? By the same token, when you know which products and services aren't selling, you'll be able to make more profitable purchasing decisions. Improve customer care and boost profits QuickBooks and Xero can offer peace of mind when you know your financials are accurate and up to date. But another major advantage of an online accounting solution is how much time you'll save by automating processes like invoicing and payroll – giving you more time to follow up with clients and seek out new prospects. We all know how important the personal touch is when it comes to sales. So why not use your accounting software customer data to help remember your customers' birthdays or thank them when they've hit a milestone – spending more than $5,000 on your services, for example?  With enhanced customer data at your fingertips, your business will earn a reputation for personalized service. You'll be able to respond quickly when a customer calls with a question about a product or an order. And you'll be able to suggest substitutions and offer valuable add-ons based on their buying preferences, so upselling becomes a snap. Final thoughts  Savvy business owners take the first step toward better profitability when they stop thinking of accounting software as only a financial management solution and start thinking of it as a comprehensive tool for business growth. You may be surprised at the many ways accounting software can help you better serve your customers or improve your sales strategies when you look at its true potential.  Now that you have a handful of ideas for better use of your accounting software, what will you do differently to enhance customer care, improve your profits and continue to grow your construction business?  We make everything painless for you, whether you are using QuickBooks or Xero. Would like to outsource or Do-It-Yourself - we can offer you services that fit well with your budget and construction business needs.  If you missed it, we have an ongoing promotion for our blog subscribers and podcast listeners! You can use this code in both our Fast Easy Accounting Store and Construction Accounting Academy for a 30% Discount: SPRING30 Code is valid up to Sunday, March 28, 2021, at 11:59 PM. (Please note: Offer does not apply to Outsourced Accounting, Bookkeeping Review, or any Consultation and Training products; you can use it, however, to purchase any course or monthly subscription classes in Construction Accounting Academy). 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 411, And It's About Overcome The Struggles Of Hiring And Managing Independent Contractors  

This Podcast Is Episode Number 410, And It's About How To Make 2021 Your Contracting Cash Flow Year Nobody wants their business to fail. Although it's impossible to predict the future with 100% accuracy, a cash flow forecast is a tool that will help you prepare for different possible scenarios in the future.  What is Cash Flow Forecast? Cash flow forecasting is the process of estimating how much cash you'll have and ensuring you have a sufficient amount to meet your obligations. By focusing on the revenue you expect to generate and the expenses you need to pay, cash flow forecasting can help you better manage your working capital and plan for various positive or challenging scenarios. A cash flow forecast comprises three key elements: beginning cash balance, cash inflows (e.g., cash sales, receivables collections), and cash outflows (e.g., expenses for utilities, rent, loan payments, payroll). Building Out Cash Flow Scenario Models It's always good to create best-case, worst-case, and moderate financial scenarios. Through cash flow forecasting, you'll be able to see the impact of these three scenarios and implement a suitable course of action. You can use the models to predict what needs to happen, especially during difficult and uncertain times.  In situations where variables shift quickly, such as during a recession, reviewing and updating your cash flow forecasts regularly on a monthly or even weekly basis is highly recommended. By monitoring your cash flow forecast closely, you'll be able to identify warning signs such as declining revenue or increasing expenses. How To Improve The Accuracy Of Your Cash Flow Forecast In cash flow forecasting, your estimates are based on historical data. This means having accurate historical information is critical. Below are some tips for improving its accuracy: At the end of the week or the month, input your actual results or the cash that was received and money spent. This will allow you to identify which items you got wrong in your estimates and evaluate why you got it wrong. This analysis may lead you to place more significant issues and help you make adjustments to your assumptions. Carefully evaluate all of your assumptions. Take note that just because it's correct now does it mean that you'll get it right in the future as well. Go through everything, especially when it comes to sales, and validate it. Don't forget to include annual payments, loan payments, credit card debt payments, and estimated taxes. It's almost impossible to forecast where your business will be in longer than one year out. You'll introduce more risk and greater uncertainty the further out your financial scenario models go. How To Manage Your Construction Cash Flow Owning a small business in the construction industry can be incredibly stressful. In addition to the long days and hazardous working conditions, you have to worry about cash flow issues. It can take a long time to collect on payment from your clients or contractors who hired your business, and in the meantime, you have to pay employees, cover fixed expenses, buy supplies and pay your subcontractors.  Here are three tips for managing your cash flow if you own a small business in the construction industry.  1. Be aggressive in following up on invoices  Small businesses in the construction industry are at risk of having their clients not pay them on time. Or at all. Being too passive in collecting unpaid invoices or reminding clients when payment is due will not help you manage the money you need to pay your bills. Sending out reminders of invoices that are due can not only speed up getting you paid but also encourage clients who were considering not paying you to reconsider. Reach out to clients if necessary to discuss payment options. Even a payment schedule is better than no payment at all. The worst thing you can do is sit around and hope your client will pay you.   2. Watch for scope creep "Scope creep" occurs when clients or other project stakeholders change a project's goals or deliverables. Almost all projects experience some form of scope creep, but too many changes to a project can severely impact your bottom line, and it can hurt your cash flow.  Ensure your project's terms are set out clearly and let clients know that any changes to the project will result in additional fees. If clients attempt to change the project, you can remind them about the original agreement and the extra costs. If they insist on making the changes, you are free to charge the agreed-upon amount.  3. Consider delegating the financial tasks Many construction small business owners become self-employed because they have construction skills, not because they want to be businessmen. The financial aspects of running a construction business are complex and take a great deal of time and planning. That can add much responsibility to the business owner.  Hiring someone to take care of your business's financial aspects, or even to advise you about the decisions you face, can take the stress off you. That's precisely how we can help. Having someone on your side who has the financial expertise that can assess your business, advise you about your cash flow and help you secure funding is invaluable. It will be worth it in the long run with the time and money you'll save.  Final thoughts Whether your contracting business is growing, fighting for survival, or you want to run it better, a cash flow forecast can help you make critical decisions that impact the financial health of your company. Most construction business owners face cash flow issues at some point in their careers. Unfortunately, those in the construction industry typically have a more difficult time managing cash flow. The large scale of the projects, the multiple stakeholders involved, and the number of factors that can go wrong on a project all increases the financial risks. Following a few steps can significantly enhance your cash flow and make financial management in your business a more painless process this year and the years to come.   To get expert assistance with your cash flow forecasting and management, connect with me through email or phone call. Get in touch to book a one-on-one free consultation, and we'll work out a plan to help you keep more money in your pocket. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 409, And It's About The Answer To Your Construction Bookkeeping Chaos Making decisions never ends for contractors like you. Being adaptable is one of the basics of good decision-making skills. Think of decision-making as being in a bumper car. You are continually driving and trying to avoid the other bumper cars. Suppose you hit one you back up and go again (reminder this is the only safe place to hit other vehicles). The rest of the time, life as a contractor feels more like the Indy 500. You are driving as fast as you can, passing other cars, making pit stops, and scrambling to make it to the finish line. Translate this to a typical daily life of a construction contractor: The paperwork, processes, and decision-making are never-ending. The concept of time is all about 10 minutes Your coffee brews in less than 10 minutes Take a shower in less than 10 minutes Load the dishwasher in 10 minutes Take out the trash in less than 5 minutes Read your email in less than 5 minutes Decide what bills to pay in less than 5 minutes Are your employees' work based on "Time Served" rather than "Results Achieved"? A time to start and a time to stop. Now, do your expectations for those same employees to work faster (Indy 500)? Do you expect the job to be done efficiently, thoroughly, and beautifully (better quality than the homeowner can do themselves)?  How many jobs are completed where the final punch list takes longer than the actual job? The common practice with employees - get the job done Fast (beating their last time). There is done and not done. I can think of several examples. Is there trash left all over the job? Is the living space dirty and needs to be professionally cleaned for the client? Is there a zillion things the homeowner needs to do before they can reclaim their space? The job is not done until the final punch list is completed, the customer has paid, the check has cleared the bank. There are a zillion steps from the initial call to meeting the potential customer, creating an estimate, doing the work, collecting the money, and paying the bills. I repeat and cannot say it too often, for Construction Contractors like you, the paperwork, processes, and decision-making are never-ending. Contractors' most common question: I saved all my paperwork, now what do I do with it? Who will call my suppliers, create tax forms, pay all my bills and taxes? Will you do everything? I just want to do the work. You say you want all of your employees to enter into QuickBooks their receipts, invoice customers; it is a wasted step for me, as the owner, to handle all of the paperwork all over again. You are the Contractor (THE OWNER). I want to point out that your employees are just that employees. It makes sense for them to track their jobs (talking about the Project Managers, Construction Supervisors, Lead Staff) using Project Management Software, not QuickBooks. Keep It Simple: Start with an Electronic Timecard.  We recommend T-sheets. T-sheets are affordable and work on all Smart Phone brands, with support for old-fashioned flip phones. Fantastic about helping you and your staff use the product.  Reports can be pulled by date range, by staff, by the project. It works for both field and office staff. Of course, the GPS features - not practical for office staff but very practical for your field workers. Are your employees where you expect them to be? Who is in your QuickBooks? Experience has found that "Too Many Cooks In The Kitchen Ruin The Meal" and too many people in QuickBooks leads to a financial disaster and, more often than not, meltdown and bankruptcy business and personal. Does everyone need to be in the Accounting System?  Having all your staff know more about your numbers can cause many "White Noise" in their heads. Common Employee thoughts are "Employees are doing all the work, and the Construction Owner is making all the money and doing nothing!" Sound familiar? It will if you have been in business for more than a few years! Employees never think about that stack of invoices for supplier slips, insurance, taxes (that's all just stuff that doesn't count). About The Accounting. We recommend all Construction Contractors use the Desktop Version of QuickBooks. It's very robust and customizable. No, not every 3rd Party App. will work with QuickBooks. Yes, in addition to QuickBooks Desktop Software, we use 3rd Party Software to help you. Both in the amount of paperwork you need to send us and keeping your costs affordable.  Many Construction Contractors find us through blogs, podcasts, and their existing office staff who have read our blogs about Bad Bookkeeper. My suggestion to you is if your team is enraged about what has been written – maybe it is time to review their work closely. We help with QuickBooks Setup, Cleanup, Ongoing Bookkeeping. We provide Cloud Access Consulting and Training. We always recommend QuickBooks Desktop as the starting point for all Construction Contractors, large, small, new in business, returning contractors. We are here to help you. The 80-20 Rule combined with Business Process Management can improve your life in ways you never dreamed possible. 20% Of The Construction Companies - Share the Top 80% of the profits which the owners and shareholders use to support lavish lifestyles because they know what to do, when to do it, and how to do it! 80% Of The Construction Companies - Share the Bottom 20% of the profits which the owners and shareholders use to support just above or just below average lifestyles because they don't know what to do, when to do it or how to do it! Final thoughts The answer lies in your thinking patterns and habits.  Randalism: Success is a few simple disciplines practiced every day.  Failure is a few errors in judgment repeated every day. For Contractors who are happy doing the bookkeeping, we offer custom-built QuickBooks Setups, Chart of Accounts and Cost Codes, and other related products on our store—making site improvements daily. Products are sectioned into (3) areas: United States, Canada, International. Construction Contractors want their Accounting to be on a Merry-Go-Round instead of some of the more exciting rides at the county fair. Life is in constant change. Everyone has a Wish List – I want to be on yours when you are ready.   I love to chat with everyone. Call today, tomorrow, next week.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 408, And It's About The 4 Contractor Do-It-Yourself Bookkeeping Flaws Exposed As a construction business owner, you operate in a multi-faceted changing environment doing the impossible with limited time, money, and resources on every project, and soon as one is finished, another one is waiting for you. You are highly skilled, intelligent, and adaptable. You press a few keys on your keyboard thinking you are going to get the results you want, accurate bank balances, a report showing who owes you money and whom you owe money to, a Profit and Loss Report and Balance Sheet Report you can understand and if all goes well perhaps even some Job Costing Reports. Instead, what you get is a hot steaming pile of fertilizer that cannot even be used in the garden. Many contractors like you feel like hiring a Professional Contractor Bookkeeping Service is a waste of money when you should do it yourself. That is often what leads good contractors like you into The Vicious Construction Company Failure Cycle. In the end, hiring QuickBooks Experts in Construction Accounting can prove to be not only beneficial but a safer option. After all, what makes a homeowner or businessperson call an expert contractor like you instead of D.I.Y. their construction project? You have the skills, expertise, and experience about how construction projects are done. You know how to bid jobs, collect money, coordinate labor, material, subcontractors, and other things needed to get work done, and in the end, you will have saved your customers and clients time, money, and frustration. So, "what is the harm if I do provide my bookkeeping?" you may ask. Doing it yourself appears to be a cheaper and surer option, right? However, in the case of contractors' bookkeeping accounts, you may incur financially crippling fines, penalties, and interest if you miscalculate payroll, quarterly tax returns and don't invoice your customers and clients for all of the work you do, including Change Orders.  Here are seven reasons that underline why you may want to hire a Professional Contractor Bookkeeping Service and leave the accounting department to the construction accountants: QuickBooks vs. QuickBooks Expert A good construction accounting services firm will be able to make instant light out of the chaos in your QuickBooks. Besides, with proper Job Costing, Payroll, Tax, Job Deposit, W.I.P. and Cost of Goods Sold management accounts, you will be able to see if work is progressing according to your targets and where things are going sideways in time to fix it. Payday vs. Employee Revolt Payroll calculations are tedious, time-consuming and thanks to various local, state, and federal regulations, they are relatively complex to compute. You have to consider everything from time cards, workers compensation, unemployment, Federal withholding, social security, employee loans, child support, wage garnishments, certified payroll reports, sick pay, vacation pay, holiday pay – not to mention filing the entire group of local and state and federal payroll tax returns.  In this area alone, a Professional Contractor Bookkeeping Service is worth having because you will save time, aggravation and hopefully avoid fines, late fees, interest, and penalties. Cloud-Based Vs. Desktop If your QuickBooks is on someone's desktop or notebook and you don't have it set up as a "server," then it is likely only one person can be in it at a time. A Professional Contractor Bookkeeping Service keeps your QuickBooks Desktop In The Cloud where multiple users can access your QuickBooks Desktop™ through a PC, Mac, or Apple at the same time from different offices, cities, states, or countries, anywhere you have internet access.  Filing Tax Returns Filing Tax Returns takes time and can be a misadventure for those who aren't aware of the local, state, and federal regulations. If you find yourself in an audit situation, it is in your best interest to have an accountant doing the math rather than playing the rookie apprentice. Final thoughts Doing The Books For Contractors, Subcontractors, Trade Contractors, Handyman, And Other Related Contractors Regular bookkeeping is relatively easy; however, contractor bookkeeping is entirely different. Routine bookkeeping is like taking a casual walk on the beach on a sunny afternoon with clear skies vs. construction accounting, which is more like slogging through a hot steamy jungle, during a heavy rainstorm, at dusk with hidden quicksand traps, steep mountain passes, raging rivers, razor-sharp rocks, deep dark holes in the pathways and giant insects buzzing around you and biting you everywhere from head to toe. Doing The Books For Spec Home Builders And Commercial Tenant Improvement Contractors Doing construction accounting for speculative builders or commercial tenant improvement contractors who need W.I.P. reports, Schedule of Values, Payment Applications, multiple job deposits, bank draws and earned value reporting, and a whole lot more is when things get terrible! The D.I.Y. approach is one of the traps every contractor struggling financially falls into because, as contractors, we don't believe in asking for help until we are in deep trouble. We find it hard to trust experts because they cost too much and do not understand how construction works. If you plan on going ahead with this route after reading this, I recommend our Fast Easy Accounting store to help you get started with doing the bookkeeping yourself. Otherwise, reach out and let me know how I can help. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 407, And It's About Critical Crisis Takeaways For Construction Business Owners If there's one thing last year taught us, it's how quickly the world has changed in such a short time and that we cannot take anything for granted. While we can all hope that the pandemic is a once-in-a-lifetime scenario, there is a lot in life and in business that is uncertain, and there is a great deal we can learn from the response to COVID-19 to help plan for the future. Yes, your construction company might have changed drastically in recent months. There is good news in that, too. It means your business is adaptable and that you can find ways to survive. Here are some lessons learned from resilient businesses and business owners during COVID-19. 1. Be Adaptable There are ways that many small businesses adapt to ensure they can continue operating during a crisis. The question is whether you're willing to adjust or are fighting to keep your business the same as before. You might miss the old ways of running your construction business. However, losing the old way of doing things doesn't mean you have to hold firm to them. Adapting your goods or services and letting office employees work remotely are all changes that can ensure your business stays open after COVID-19 is over and even save you money in the long run. 2. Plan Ahead While almost nobody saw this disruption coming, some experts warned about the possibility of a recession and how to prepare for it. Unfortunately, many small business owners limit their planning to a crisis that lasts only a few weeks, which is where they get into financial trouble. Disaster can strike at any time, and it doesn't have to be a global pandemic. Having a healthy cash flow, savings account with enough built up to cover costs for at least a few months, and a plan for addressing recession scenarios will help your business survive tough times, whatever brings them about. You don't want to be reactive to an emergency because that's when terrible decisions get made. Instead, plan, so you're prepared and don't have to make tough decisions based mainly on emotion. Prepare for an emergency that lasts months, not just weeks. 3. Pay Attention In situations like COVID-19, business owners can learn from and help each other. Take a look at what others in the construction industry are doing, and even look outside your trade for inspiration. Seeing someone move their services online might give you an idea of how you can remotely provide some of your services. Noticing how construction businesses similar to yours adapt can influence you to make beneficial changes to your company. Reach out and talk to other business owners; to your clients to find out how you can help them. At times like these, you aren't alone in trying to keep your business operational. Everyone is looking for solutions, and there's a good chance you can help each other. 4. Embrace Innovation Innovating internally, such as upgrading your technology department or even as simple as updating your systems and processes, or externally like offering a different business model to your clients. One of the most often cited reasons for not embracing innovation is that it is too risky. Prototyping or testing often comes with a high cost. Combined with the cost of the time spent, this can all be relatively high for an unknown outcome. There is no way to eliminate the risk in innovation, but there are ways to reduce it. It's easy to understand the dilemma. A construction business owner doesn't want to put himself in a position to waste time or money, especially as the economy continues to climb out of the sinkhole, and yet, businesses that don't innovate will suffer severe consequences, maybe damaging the construction company beyond repair.  It's important to back up and ask a few key questions: What problem is being solved, and for whom? What are the financial benefits and drawbacks of this idea? Identify the potential roadblocks. Final thoughts Global pandemics can devastate a small business and have lasting impacts on the industry. There are many lessons that construction business owners can take away from COVID-19. To help them survive the next economic emergency, being adaptable, planning, paying attention to industry leaders, and embracing innovation can all help your business through any financial disaster. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 406, And It's About Practical Tips To Trim Your Overhead Costs Every small construction business owner knows how challenging it is to cut down expenses without somehow compromising internal or external quality. Regardless of your business's nature, the first step to reducing your overhead costs is to take the time to go through every single expense you have. Next, assess which ones are necessary for your business to operate smoothly, what can be trimmed down, and what can be eliminated. It's important not to rest on your laurels. Continually thinking of ways to reduce your overheads is essential for a healthy cash flow, so conducting regular reviews of your business expenses should be a routine task. Here are some smart and practical tips that you might not have considered to lessen your costs while maintaining employee and customer satisfaction. Negotiate with suppliers Don't hesitate to contact your suppliers and vendors to request flexible monthly payment plans or discounts, especially with the current challenging economic climate. They are often willing to help out small- and medium-sized business clients and cut them a break. Review your software subscriptions It is no secret that cloud-based apps and tools can help you manage your business with ease. Although a few dollars a month might seem affordable at first, the costs can quickly add up once you set up your subscription for multiple apps. If you want to reduce your overhead costs, audit your recurring software subscriptions and cancel those you rarely use. You might also want to downgrade your plan or opt for the free version of these tools. Furthermore, you can search the internet for cheaper or free alternatives that offer the same functionality. Maintain a paperless office If you are still relying on physical printing, going all-digital and paperless will remove printing-related costs and keep your documents better organized. Aside from being cost-effective, a digital workplace is also environmentally friendly and means data is easily accessible. Revisit your Marketing Strategy To grow your business, you must be willing to set some marketing budget, even if you are trying to cut down on expenses. However, before you continue with your marketing strategy, it is crucial to evaluate each channel and its return on investment. Get a clear idea of how much you are spending and gaining from each marketing channel. Test and measure different media, and re-allocate your budget accordingly if you find one that isn't working. Get a financial advisor Regardless of how confident you are with your new budgeting, it pays to have a fresh set of eyes to look into it. An experienced accountant can provide you with an objective analysis of your budget allocations and help you save even more on your expenses. Ways to save There are several things you can look at here, tried-and-true methods for keeping costs down. Some of the most effective are: Business taxes – talk to us about ways you can legally save on your taxes. For instance, can you claim your home area as an office, which is a legitimate business expense? Importing – you could look at importing your business's raw materials. It could be that they're cheaper to buy from an overseas supplier than the one you've been using locally. Make the most of technology – moving your accounts to a cloud-based system, reducing manual paperwork processes, and communicating with your customers over Skype or Zoom instead of visiting them face-to-face will all help reduce costs. You can even have your staff work from home and, as mentioned above, save on renting a commercial space. Final thoughts Cash flow is the lifeblood of any construction company, especially those with annual sales volume under $1,000,000. Some construction Company experts even say that healthy cash flow is more critical than your contracting company's ability to complete projects. While that might seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer, you can always work harder to please the next customer. If you do not have enough cash reserves to pay your suppliers, creditors, and make payroll, then your Construction Company is out of business; game over! 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 405, And It's About Early Warning Signs Of Insolvency To Watch Out For Running a construction business isn't exactly a walk in the park. It is hard work but a rewarding journey at the same time, and you can probably attest to this yourself.    Sometimes, things also don't go as planned, and you may find your business in financial distress. Suddenly you find yourself falling behind on due dates, suppliers are chasing for payments, and your stress levels are skyrocketing.    Regardless of your business's nature, it would be best if you had sufficient cash flow to meet your financial obligations. And the closer you are to not being able to do this, the closer you get to insolvency.   To ensure that your situation doesn't get worse and prevent your construction business from going under, here are some early warning signs to look out for. These are signs that you need to deal with the situation as soon as possible. Constant Shortage of Cash In any business, cash is king. So if your business expenses are higher than your earnings, expect to experience some problems in the long run unless it is well-funded. Don't let your cash flow continuously stay negative for extended periods, as it can imply that cash in the bank could be running low and eventually lead to bankruptcy. Falling Profit Margins Long-term survival requires sustained profits. Falling profit margins may mean that costs are increasing and income is declining.  If your business struggles to earn good profits, it may be challenging to keep it running smoothly and may cause added pressure to your cash flows. Delayed or Defaulting on Payments  If your business has to delay payments to its creditors continually, some suppliers may be forced to halt the supply, leading to delays in your production or service delivery.  Also, it is not unusual to forget or miss a payment. However, if it is becoming too frequent, this is a warning sign of business failure. Higher Interest Payments If lenders are not confident of your business viability or see your business as high risk, funding debt will cost more and interest payments will be higher. Because high interest can put added pressure on your cash flow, this will likely worsen your situation. Difficulty in Raising Capital Do you find yourself in constant need to borrow or ask investors to inject more capital into your business? If so, this is a glaring sign that your business is finding it challenging to self-sustain. Now is the time to re-evaluate your enterprise and check if it is viable in the long-term. Employee Turnover and Stress in Management Businesses in financial distress have increased employee turnover rates or reduction in headcount to cut down on costs. Also, significant changes in senior personnel and stress management are key indicators that your business is in trouble. Market Risks and Other External Factors Economic downturns, changes in market trends, the loss of a significant market or critical customers, loss of a franchise or license, among other external factors, may also put friction on your profitability. While these conditions are often inevitable and beyond your control, it is vital to be aware of these risk factors and stay ahead of these changes and disruptions. By doing so, you will effectively manage them and cushion their impact on your business. Is Your Construction Business At Risk? If you find your business showing any or some of these early warning signs, it's time to take action. The faster you act, the higher your chances of turning things around. While nobody knows your contracting business as well as you do, seeking expert financial advice right away is crucial for your survival in the face of insolvency. For a free initial assessment of your business, feel free to get in touch with me. I look forward to chatting with you, and hopefully not only help you understand your current situation but also help you consider your options, implement concrete action plans, and minimize your exposure to further risk through practical strategies. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 404, And It's About The Reason Why Some Construction Projects Fail Estimating and submitting bids is one of the most stressful and nerve-wracking sides of your construction business. It is essential to keep in mind that "break-even" in the construction business is challenging to calculate because most projects are one-of-a-kind custom jobs. Proactive contractors have systems and cost libraries with pre-priced assemblies for bidding, which works in conjunction with Strategic Construction Accounting to provide management with progress invoicing, job costing, and job profitability. With poor bookkeeping, misguided judgment, and clerical errors come bad decisions on what projects to bid on and not to bid on until eventually, you'll run out of time and money. This is why some construction projects fail or, worse, construction companies get bankrupt.  Whenever someone decides to have some work done, they get several bids from competing contractors because they heard someone say a long time ago.  There are two things to consider: The Low Bidder Good / Fast / Cheap - Choose Cheap & Fast or Cheap & Slow! Expect the project to be late and over budget! Base costs - Taxes, fuel, cell phones, nails, glue, and small parts are the same for all contractors; no savings here. Labor - Cheap labor makes mistakes and causes damage because they are learning, by experience, on your project! Material - Price is King! So they buy and install cheap material! Tools - Cheap tools take more time, and the finished product may be hard on the eyes, but they have to cut costs! Trucks - Rickety old trucks and vans may break down, which means the job may take longer, but costs have to be cut! Office - They work out of their house or truck; so-called no-overhead Cheap Construction Manager - Biggest, "baddest" construction worker. Also, the bill collector. Also acting as a "Working Project Manager," which means the company is attempting to save money in the short run and lose money in the long term. Assembling parts and building something takes a "Tactile" mindset. Running a project is "Strategic." Put another way, no man can serve two masters as he will hate one and love the other, and the inevitable outcome is the Peter Principle, which leads to a construction train wreck. Invoices - Make no sense, the total cost may exceed the bid, and you will pay the contractor to avoid violence! Warranty - Cheap contractors cannot afford warranty work because they are "One-Hit-Wonders" never to return. The Other Bidders Good / Fast / Cheap - Choose Good & Fast or Good & Slow! Expect the project was done on time and on a budget! Base costs - Taxes, fuel, cell phones, nails, glue, and small hardware are the same for all contractors. Labor - Skilled labor costs more, produces more work faster with fewer mistakes, which means a quality project. Material - Quality and reputation are King! Skilled labor can install quality material faster than cheap material. Tools - Quality tools and equipment cost more and produce a product that is easy on the eyes and lasts longer. Trucks - Reliable trucks and vans mean the job is done quicker and with fewer delivery issues. Office - Skilled staff and office equipment provide for effective communication. Qualified Construction Manager - Has a construction background and formal training in project management. Most professional construction companies with good reputations will have people with credentials like PMP (Project Management Professional) assigned to oversee projects. Invoices - Are Pay Applications that make sense because they show a history of costs and payments made.  Warranty Work - This is a marketing cost because the first project is the beginning of a relationship. Final thoughts Never hire the lowest bidder. The sweetness of low price fades quickly while the bitterness of poor quality lingers on. When hiring a contractor, discard the low bidder because you will get what you pay for and sometimes less than what you paid for. See that you have enough time to review subcontractor pricing and make clarifications from the project manager, architect, or owner if there's anything you are unsure of. This is where writing down a list and checking it twice will come in handy.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 403, And It's About Cash Flow Management And How To Track Income A wise business owner once said, "Happiness is positive cash flow." As a business owner, I'm sure you agree. Everything is better when your cash-in exceeds your cash-out. A cash crisis can be emotionally devastating, and it can even kill your business. If you've ever had to beg, borrow, and steal to cover tomorrow's payroll, you know what I mean. Having a proper cash management system allows you to: Know when, where, and how your cash needs will occur. Know what the best sources are for meeting your additional cash needs. Be prepared to meet these needs when they occur by keeping good relationships with bankers and other creditors. The starting point for avoiding a cash crisis is allowing your accountant to develop a cash flow projection for you. Your construction accountant can help you develop both short-term (weekly, monthly) cash flow projections, help you manage daily cash, and long-term (annual, 3-5 year) cash flow projections to help you develop the necessary capital strategy to meet your business needs. Also, a well kept historical cash flow statements help you understand where all the money went. Having an accurate cash flow projection has several benefits and will make many procedures easier for your construction company. The one burning question contractors want to know: When is it income? When money comes into the business, at some point, it turns into income. "Money goes in and out of my business, and I don't understand when it is income and when it is not." Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over. The Diagram Below Shows Five Ways Money Comes In Job Deposit - Customer signs a contract and gives the contractor a down payment check - (Not Income) Invoice - Contractor sends the customer an Invoice for the work done, and the customer pays - (Income) Loans - Contractor, outside investors, banks loan money to the business - (Not Income) Refunds - Contractor returns unused material, gets money back - (Not Income) Rebate - Contractor receives a rebate when buying a new truck - (Not Income) The Diagram Below Shows Five Ways Money Goes Out Labor - Payroll and taxes because contractors can make good money with qualified labor - (Not Income) Material - It takes money to make money, and you need material to build and repair things - (Not Income) Other - Costs you need to operate a mobile business like construction - (Not Income) Subcontractors - Do what you do best and outsource the rest - (Not Income) Overhead - Everything not directly related to fieldwork - (Not Income) The Diagram Below Shows When It Is Income Invoice - The only time when money coming in is - (Income) Job Deposit - Applied to an Invoice, the money is - (Income) Customer Payments - Applied to a complex Invoice, it is - (Income) Our services can provide you: Help in obtaining an appropriate line of credit Cash collection acceleration techniques Proven effective collection policies Established effective payment policies Help in getting the maximum rate of return on your idle cash Final thoughts Cash flow is the lifeblood of any construction company, especially those with annual sales volume under $1,000,000. Some construction Company experts even say that healthy cash flow is more critical than your contracting company's ability to complete projects. While that might seem counterintuitive, consider this: if you fail to satisfy a customer and lose that customer, you can always work harder to please the next customer. If you do not have enough cash reserves to pay your suppliers, creditors, and make payroll, then your Construction Company is out of business; game over! 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 402, And It's About A Guide On Contractor Bookkeeping In Ten Minutes A Day Using QuickBooks

This Podcast Is Episode Number 401, And It's About Hidden Costs When Choosing The Right Construction Accounting Software Typically, in the first month of the year, many contractors with expensive high-end construction software are re-examining if QuickBooks for Contractors is all they need and if switching over to it makes sense. I chat with Contractors every day. You tell me your stories - about your challenges in running a business, keeping up with the bookwork, estimating and bidding jobs, doing the work and collections from clients, and having or not having employees and paying their taxes.  The first thing we ask is which of The Four Types of Contractors best describes your company? Salt of The Earth Dog And Pickup Truck Professional Enterprise Level Having used several high-end construction software programs costing over $60,000 and a few low-cost programs under $500 like QuickBooks and Peachtree, and some free online bookkeeping programs, I have concluded that for contractors with annual sales volume under $5,000,000, the only answer is QuickBooks For Contractors. For an in-depth comparison of QuickBooks versions, click here. We started using QuickBooks when it was first released in the DOS version in the early 1990s and had been raving fans of it ever since. It's had problems and growing pains; however, Intuit, the parent company of QuickBooks, is right about finding and fixing the issues as evidenced by the number of contractors using it compared to their competitors. What are the five things to consider? 1. Setup This is the most critical and least understood part of the selection process. A correctly set up QuickBooks contractor file will do everything a contractor with less than $5,000,000 in sales will need, including generating reports for: Monthly And Quarterly Tax Returns Sales Tax Returns Payroll Processing Payroll Tax Returns, 941 and 940 Contractor Invoicing Work In Progress (WIP) Reporting Preparing Pay Application Invoicing For Remodel Preparing Pay Applications For Tenant Improvement (TI) Job Deposit Tracking Retention Tracking Insurance Audit Support Service QuickBooks Financial Reports Job Costing Reports Five Key Performance Indicator Reports for monitoring your business And more Setup is the most expensive hidden cost of all. Anyone who suggests the average contractor can buy construction software and have it up and running in less than 200 hours in a span of several months is stretching the truth. There is a big difference between selling construction software and setting it up to use it. QuickBooks Setup Has Three Main Phases: Chart of Accounts, Item List, Customers, Vendors, Employees, Payroll; Clean up the existing data; and input the behind transactions. You can do it yourself = 200 hours x $10 an hour you could earn flipping burgers (opportunity cost) adds $2,000 to the value of the software. Give it to your bookkeeper = 200 hours x $25.29 (Paid $15.00 per hour plus taxes and overhead) adds $5,058 to the software's cost. In most cases, you can outsource the complicated and costly QuickBooks Setup and Job Costing Reports to us, get it done right in a fraction of the time and cost of any other option, and we can clean up QuickBooks existing data and input your back-work or as we call it QuickBooks Catch-Up. From our extensive knowledge base of Construction Accountants and studying highly profitable contractor's QuickBooks setup files, we have developed a library of QuickBooks for contractor modules to build your custom QuickBooks Contractor files in a fraction of the time and at a lower cost. It has made us the leader in setup QuickBooks for Contractors. 2. Bloat The more the software costs, the more bells and whistles it has or, as I like to say, "bloat." Software bloat in construction is deceiving because it looks like something you've got to have or you are missing out; the good news is you're not. It merely adds fluff and filler to jack up the price, just like college and university textbooks sold by the pound. 3. Construction Bookkeepers Talent Pool The more expensive the construction software, the more dependent you will be on the developer for tech support and training. When you pay $1,000 for two days of training for your bookkeeper and their time 16 hours x $25.29 = $404.64 plus lunch $10 x 2 = $20 and parking $10 x 2 = $20 for a total of $1,444.64, they have increased skill sets, and they will ask for a raise or seek employment elsewhere! Worse yet, what if you don't pay for training and they learn by trial and error on your payroll? Do you know What Ten Minutes A Day Costs Your Company? 4. Contractors Bookkeeping Services System Everything in your construction company that makes money follows a process that is called "CONTROL." For example, building a new house is: Foundation | Framing | Mechanical | Roofing | Finish | Clean up. Everything in your construction company that costs money and does not follow a logical process is called "CHAOS." Construction bookkeeping services is a system with a logical process, and when it is followed, you make money; when it is not, it costs you money. 5. Cloud-Based Construction Software Cloud-Based Construction Software Is no longer a luxury reserved for enterprise-level contractors. Any contractor using QuickBooks Contractors desktop version can have it too. We offer a way for you to access the full desktop version of QuickBooks Contractor with all of the built-in reports and the ability to print on your local desktop printer, email, or have documents linked to individual transactions. You can do just about anything you are doing now with QuickBooks Contractor on your desktop except losing your data due to computer failure, weather, earthquake, flood, fire, or other disasters because it is on a secured cloud server with multiple redundant backups and power supplies. You can even access your QuickBooks Contractor financial reports in the cloud without having to open QuickBooks. Final thoughts Consider these five hidden costs when choosing the right construction accounting software for your company. Have a recovery plan if the entire software crashes during updates/upgrades - this will even cost you more money.    The best finish carpentry tools in a golf professional's hands without proper carpentry training will not produce anything near to what a skilled finish carpenter can. The same can be said about the best construction business consulting and accounting tools in an experienced finish carpenter's hands. And I say that with respect and admiration for everyone in construction. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 400, And It's About A Guide On How To Provide Year-round Value To Your Contracting Clients Markets are dynamic and continually evolving, so no business can afford to stand still. Many construction business owners have learned that in the last few months as COVID-19 spread around the world. No matter how excellent your products or services, they have a finite lifespan, so they must be developed, improved, or replaced if you're continuing to grow your business. New products, services, and ways of providing more value to your clients and prospects are the hallmarks of a go-ahead business. Improvements and extensions You can lengthen your services' market life through a process of continuous improvement in response to customer feedback. You can also work on extending your range through complementary products or services. However, there's a limit to the extent you can keep on refining, and in many cases – in the end, you'll need something new. Besides, if you are a trade contractor specializing in a specific skill and service, how can you translate your expertise to show that you have your prospective clients' best interest year-round? Steps to take Don't make the mistake of sitting around, waiting for events to overtake you. It's essential to take a proactive approach to identify possible market threats as well as opportunities by: Ensuring you're getting regular market feedback from your customers and others – customers are often the first to tell you that your products are no longer meeting their requirements. Setting up a new service committee of key staff members – meet regularly to review market feedback and gather ideas on improving existing services and potential new services. Attending trade shows (or online events) – can be a great way to open your mind to what's happening in your industry. Seeing what similar businesses are doing overseas, spotting new trends and products, and making new business contacts are great ways of coming up with new products or services. Keeping up with networking – attending conferences, seminars, and industry events (hopefully in-person this year). They're your best sources for finding out if any government grants or initiatives are coming up. Make the most of the Internet Online research is one of the easiest, cheapest, and most effective ways to keep your ear to the ground about what's happening in your industry, and it's a great source of inspiration when it comes to new ideas. If you don't have the time yourself, appoint an employee to monitor things like: Social media platforms and channels – signing up to relevant Twitter feeds, Facebook pages, and LinkedIn are all excellent ways to stay up-to-date with what's happening in your industry. Subscribe to RSS feeds – again, it's a useful tool that helps you keep your ear to the ground about what's happening. University and other academic research – papers are often published on the outcomes of the latest research and development, and in many cases, they're free to read. While you learn and grow, you can now share new information and develop different strategies to serve your clients and prospects. Here are some content ideas you can share - online (website, blog post, podcast, and email) or offline (marketing materials like brochures, flyers, and newsletter): Client Interviews Testimonials are one-sided and usually a short text of how you performed. Take it up a notch and make it a Q and A post: Why did they hire you? What processes have you been through together to come up with a successful plan? This would deliver an impactful message to your audience. How-to Guides Imagine a mother's anxiety before a significant renovation; add her full-time job and her family's needs to that. If you can address most of her concerns before wreaking havoc inside their home, that's value right there. Example: How to Prepare for a Kitchen Remodeling Project Checklist Write about safety and procedures, your daily inspection, or task reminders on what to do. Guide By creating a handbook post, you tell prospective clients the qualifications of an expert (insert your particular trade) contractor. This is a subtle way of showing your mastery and skills without being "salesy." Example: What to Look Out for Before Hiring a Capet Installer Biggest mistakes/lessons Nobody wants to talk about their failures, but your takeaways from these failures lead you to step up your game plan. Example: My Painting Job That Went Horribly Wrong Tips and Tricks Helpful and bite-sized information. Whether you're talking about using a manual tool, choosing the right paint color, etc. Tutorial with Video Demonstration They can probably search this on YouTube, but it doesn't mean you cannot make one. This is part of positioning yourself as their "Go-to person." Telling your clients you know how to use your tools is one thing; showing them how is another. FAQ What are the most common questions you've been asked? Is it about how you deliver your services? What time of day can they expect you to show up? Start taking notes of what your clients are asking or telling you. These little details can make up for an informative blog post. Share a list of online resources related to your services Example: 10 Inspiring Minimalist Bedrooms Event Recap Have you participated in a trade show? Attended an industry conference or a marketing event? It shows your keeping up with the industry standards and best practices. Always remember - for every marketing material that you produce, think about your purpose and how it will benefit your target audience regardless if they hire your services or not. Final thoughts Providing value to your clients tells that you are serious about your construction business; providing it year-round builds your relationship with them, establishes your credibility in your local neighborhood, and makes you the "go-to" person in your particular industry.    As we welcome the new year, I'll leave you with a simple Randalism that you can put into practice every day: Be. Do. Have. Be the person. Do the work. Have the results (or peace of mind).     We believe contractors deserve to be wealthy as you add value to people's lives. If you believe it too, it will happen regardless of whose services you engage, including ours. Celebrate Life for every day is a good day no matter what happens; tomorrow is a new day.    Happy New Year!

This Podcast Is Episode Number 0399, And It's About Smart Contractors Spend Money On Marketing Accounting And Production There is no better time to reflect and think seriously about your construction business. Excellent organization systems add considerable value to any business because they allow you to spend more time working on your business rather than on it. Year over year and regardless of the economy, one thing never changes; 20% of the contractors earn and keep 80% of the profits because they have a Business Process Management Strategy like our Contractors Success M.A.P. that tells them how, what, when, where and why to focus their limited resources on the M.A.P. = Marketing / Accounting / Production. As a construction company owner, investing your money in these three things can immensely help your business and help you protect it from slower times: Marketing Many construction business owners think marketing is about finding clients today, but a good marketing strategy looks to the future. Just because your business is busy today doesn't mean it will be tomorrow, and if you only focus on your marketing when things are slow, your downturns will last longer than they should. Unfortunately, too many construction business owners only gear up their marketing efforts when business slows down. By then, it's too late. No matter how busy you are today, marketing should be one of your financial priorities. It would be best if you marketed yourself today to ensure clients tomorrow, next week, and next month. Spend your money on a proven marketing strategy that draws customers in, and you might be able to avoid future downturns or at least stop them from lasting as long. Stop, Look, Listen And Think - Understand the impact of the 80-20 Rule for contractors 20% of your customers usually generate 80% of your net profit.  20% of the goods or services you sell contribute 80% of your revenue 20% or 2 out of 10 of your staff create 80% of your customers' value. Accounting (Administrative Tasks) There's a lot to running a business that can be outsourced. Yes, outsourcing costs you money. But it also saves you valuable time and energy. It may also prevent needless headaches. There are many service providers out there that offer valuable assistance, freeing up your time for the things you love to do and are more skilled at. You can outsource your payroll, invoicing, bookkeeping, accounting, legal advice, and marketing. You can even hire an administrative assistant to help you with day-to-day business tasks. These outsourced service providers are specialists in their field and can provide you with the services you need when you need them. If you're not an expert in those fields - primarily legal and accounting - outsourcing those tasks can prevent costly errors. Your time is valuable. Spending money so someone else can take care of the mundane tasks you dislike is worth the expense. Production (Employees) Your business is nothing without your employees, and happy employees are more productive, motivated, and loyal. Smart construction business owners know that it's worth spending a little extra money to ensure you have the best employees on your staff and reward them for their hard work.  When you can, spend money on your employees. Offer bonuses or gifts for meeting their goals or exceptional service, provide better-than-average benefits plans, give them opportunities for training, or increase their salaries. Happy employees give more to your business. They reduce the turnover rate, saving you the cost and headache of finding and training new workers. Plus, your clients and customers like seeing consistency in your staff, so they'll appreciate that you keep your workers happy. At this point, you have some basic operation manuals in place for your field and office employees. It is the document that answers the same questions you will be asked 100's times. It is the Wikipedia of your company. "This is Who We Are, And This Is How Things Are Done Here." Final thoughts Smart construction business owners know there are a time and a place to spend money. Spending your money in intelligent ways saves you time and energy. It can even save you money in the long run by reducing turnover and preventing expensive mistakes. Consider whether you could help your business, and yourself, by spending money on your employees, marketing, or administrative tasks. Now, you have a road MAP to success, and all you have left is to assemble the tools, equipment, and staff to set up your trucks and vans and go to work! And of course, treating everyone a little nicer will make the challenges of the day go easier. I invite you all to join me in the Celebration of the Holiday Season, of Living Well and being Happy. Merry Christmas to all! 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0398, And It's About How To Avoid Overpaying Your Construction Business Tax Contractors want to maintain control without making any changes. "Keep doing the same thing but expecting a different result."  Throwing the receipts in a shoebox (behind or under the seat in the truck) is the favorite way to deal with paperwork. This is "Under Managing" and frustrates everyone around them who is playing "Where's Waldo?" Job costing is nonexistent; bills are usually paid late, customers are unbilled, lost, and forgotten. On the other hand, micromanaging every detail is an over-reaction from years of doing as little bookkeeping as possible to prepare the tax return. Knowing what to do, however, will stop you from making a big mess of it. Year-end phone conversations are usually out of frustration.  Contractors will call and say: I can't get any reports I don't like the reports I am getting My tax accountant is not answering all of my questions How can I improve my business? In-house bookkeepers will call and say: Bookkeepers inherit the "CRAP" from everyone who worked in QuickBooks before they arrived and are expected to produce useful reports. Bookkeepers are expected to use: Old Equipment One Or Two Tiny Monitors Dot Matrix Printer (or equal – the noise an old printer makes when printing is unforgettable) Frustrated Spouses Call Me because spouses usually get "Seagull Management" from the Contractor. The in-house Bookkeeper gets that and "Zap Management." That is when people learn what to do by doing something wrong and getting "Zapped" by the Contractor in the form of an insult or nasty comment, and the process continues until the Bookkeeper shuts down and doesn't do much or anything at all. Under both styles, the core problem does not lie with whoever is doing the Contractor bookkeeping. The source is the Contractor and how the Contractor thinks about their business. How the Contractor reacts at the moment to a crisis? Making dozens or hundreds of decisions (moment by moment activity) every day is part of what being a Contractor is all about. In a way that non-contractors or even their employees do not understand. Embrace it, and decisions will come easier.    Simply put - the wrong Bookkeeper will cause you to overpay your taxes.  Your tax bill is based on reports produced by your accounting system. The old saying garbage in = garbage out is absolutely true here. Only it means Garbage In = You Overpaid Your Taxes!  If your Bookkeeper is an Untrained Bookkeeper who attended a one-day seminar, watched some videos, took an online class, spent a few months working in an accounting firm, or is self-taught and believes in learning by experience (this means when they make a mistake, you get to pay for it) then you almost certainly are spending a whole lot more in taxes than you should. 10,000 Hours Of Practice Are Required - To master a skill, according to Malcolm Gladwell, the author of the book "Outlier." His book has examples like the Beatles playing nearly 10,000 hours together in Germany before they emerged as "The Beatles," Tiger Woods invested 10,000 hours on the golf course before turning 21, Bill Gates as a kid put in 10,000 hours on his PC. Professional Bookkeepers - Are people who have invested at least 10,000 hours in practicing and learning their trade because that is what it takes at least that long to become a master construction bookkeeper. We scan your receipts and invoices and give you back a "CPA-ready packet for your tax return." If your Bookkeeper put all those receipts in as expenses, you could be overpaying your taxes by at least $5,000 and probably more. Putting receipts inside QuickBooks is easy! Putting them in the right account, so the reports are accurate, the business owner can trust them, and when the taxes are filed, you will pay the least amount possible - that is where the professional Bookkeeper earns their money. Final thoughts If you think your Tax Preparer - will catch the bookkeeping errors, think again! That is not what they are paid to do! Most of them are paid on commission to prepare as many tax returns as fast as possible! This means most of them will not spend the time and effort to review the details of hundreds or thousands of transactions to make sure the amounts have been put in the right accounts.  You don't have to go through this alone. We can help you a little or a lot depending on your construction business needs. Let me know how I can help you by filling out the form or reaching out to me. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0396, And It's About Answers To Frequently Ask Questions About Our Bookkeeping Services One of the biggest concerns contractors have about outsourcing their bookkeeping to a cloud-based contractor accounting service like ours, is they think it means sending jobs off-shore rather than keeping your dollars in America where they can help other Americans. In too many cases, that is precisely what occurs.   Many contractors would like to subcontract out their bookkeeping services, and the two main reasons they don't is - fear of losing control and cost.   To paraphrase an old quote and adapt it to the construction industry, "It is not the strongest, toughest, hardest working construction contractor that survives, nor the most intelligent among them. It is the construction contractors that are most adaptable to change."   One of the Best Practices in any successful company is to do what you do best and outsource the rest. Why it makes sense to hire us? I listed your top concerns and addressed it below: Do you understand Construction Accounting? We have been construction accountants for a long, long time and around construction even longer.  Here is a video to better explain the difference between Construction Accounting and Regular Accounting. Each construction company has common issues; the solutions are customized to fit their individual needs. Our niche is the small construction contractor, US-based and usually family-owned, with zero to 10 employees, including owners.    We want lots of reports. What do you offer? Yes, we can provide you with reports inside QuickBooks, and we have a way for you to get reports without ever seeing QuickBooks. We can assist you in getting a better understanding of your financial statements. We use QuickBooks for Contractors, and our customized QuickBooks setup is designed to facilitate built-in job costing reports plus being able to export to our Excel-based pay application nicely. I keep losing money on change orders. Can you help stop the money leaks? We have a process for managing change orders. Getting signed change orders can make a significant impact on the bottom line. Those tiny changes (up or down) in a project can add up, and we have a process for that too! How involved do I need to be? In All Cases - the owner should have a "hands-on" approach, including paying the bills because we do not touch your money. It is optional for our clients to have 24/7 access to their QuickBooks files and review their Key Performance Reports / financial reports daily. We continually improve processes to make other reporting methods available. With us handling the contractors bookkeeping services tasks, your in-house staff is free to work on more productive tasks and do what they do best.   Who should be doing the construction bookkeeping? Our contractors bookkeeping services system is as simple as taking over the daily bookkeeping, providing a platform for good habits as we advance, and acting as a support role for your current bookkeeper. The Key is "knowing who should be doing what" - Too many helpers helping in your QuickBooks contractors file may not be helpful. For some companies, their in-house person is fine and just needs a good foundation by having us do the QuickBooks Setup, and they can enter the construction accounting transactions.  I want to keep my tax accountant. Great! We do not offer annual tax preparation services, just Quarterly Tax Returns. Your annual tax return should be done by a qualified tax preparer whose focus is your "Whole Life" business and personal, and we can work closely with your tax accountant to make sure they have what they need. By the way, your tax accountant is part of your Board of Advisors that you are paying for already. One of my competitors is doing better because he has a business coach. We provide some consulting, some coaching, and some operational assistance in processes designed to help you grow. It's automatically part of the services for our outsourced clients. What is the process for outsourced accounting? We work from the first dollar in on January 1st to the last dollar spent on December 31st and all of the transactions between customer invoices, bills paid and unpaid, payroll issues, reconciling bank and credit card statements, knowing what to look for on your vendor statements and more. What if your outsourced accounting services don't work for my business? We offer Flat Rate pricing, no surprises, no heartache, no regrets, no long term contracts, month to month, cancel anytime. Our agreement has no minimum time commitment clause. You have our service for as long as you need it. There is nothing to lose. Can we chat and get to know each other without it costing much money? Absolutely! We offer a free one-hour consultation, and if it takes a little longer, that is O.K. too! The relationship between you and your accountant is one of the most important business relationships you will ever have because we know what works and what doesn't.  Fill out the form on the right (below this post if you're using a mobile phone), call 1-800-361-1770, or email me at [email protected]. I hope that helps with your decision-making and find the right construction bookkeeper for your company. We believe contractors deserve to be wealthy as you add value to people's lives. If you believe it too, it will happen regardless of whose services you engage, including ours. Celebrate Life for every day is a good day no matter what happens; tomorrow is a new day.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0395, And It's About Eight Things Your Construction Invoice Needs To Get Paid Faster Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over. Due to your work's nature, as construction contractors provide services on a per-job operation, issuing invoices make it all the more challenging and complicated than it has to be. The good news is that it doesn't have to stay that way.    What should you include on your invoices to get paid faster? Even if you've been running your business for a while, you might be missing other information that you should include. So here is a step-by-step guide on what to include on your invoices.   1. Make your invoice look professional. Add your logo and use professional fonts, styling, and colors that complement your brand. Modern accounting software platforms allow you to set up invoice templates, saving you reinventing the wheel each time.  2. Label your invoice clearly. Make sure that you display the word 'invoice' clearly at the top of the document. If relevant, it may also need the terms "tax invoice." It should also have a unique identification number for your records. You need to have a reference for all your invoices and make sure that there are no duplicates. For the identification number, you can use a sequence that gradually increases and add letters before the number to indicate a specific client. Again, most modern accounting software platforms will do this automatically, but it pays to check you've got it set up correctly.  3. Add company information. Add the details of your construction company and the company or client you're invoicing. This includes: your company's name, address, and contact information your customer's company name and address, including a contact's name to ensure that it reaches the right person (if you're invoicing another company) your customer's name, address, and contact number (if you're invoicing an individual) your registered office address and company registration number (if you're a limited company) 4. Write a clear description of the products or services. The description of the products or services that you're charging for doesn't have to be extended. However, it would help if you made sure that it is detailed enough for your client to know what they're paying for. Aside from the description, you should also indicate the quantity and the price. 5. Add important dates. You should add the date you provided the product or service (supply date) and the date you created the invoice. Add the invoice date at the top of the document together with your name/ company name, address, and contact details. Meanwhile, the supply date could be added together with the description of what services you provided. 6. Add up the costs. Aside from indicating the individual service's cost and the description, you also have to put the total amount that must be paid. If you've agreed to give a discount or there's a special promo, you must also clearly indicate it on the invoice and subtract it from the total. If applicable, you must include the V.A.T. amount on your invoice too. 7. Indicate payment terms. Although you likely have agreed on specific payment terms with the client beforehand, it is still recommended to note the terms on the invoice.  For instance, if you expect to get paid within a certain number of days, you can remind the customer by adding this information to the invoice. Furthermore, you should note how exactly the client makes the payment. Add your bank details or other payment information. 8. Add payment options. Online invoices on modern platforms allow you to include payment options to help you get paid faster. Adding a "Pay Now" button that allows your customers to pay immediately via credit card, debit card, or automated clearinghouses like PayPal and Stripe is proven to speed up the payment process. Want money in your bank quicker? It's a no brainer! Final thoughts There are many accounting and invoicing software platforms and invoice templates out there that you can use. As a reminder, billing your clients depends on your signed contract, and sending invoices is based on this agreement's details. To help with invoicing, Contractor Payment Application is also available in our store. Helping Contractors around the world is one of the reasons we added the Fast Easy Accounting Store.com. Follow our blogs and listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help "A Little or A Lot," depending on your needs. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0394, And It's About A Contractors Guide To Dealing With Customers Who Refuse To Pay All construction contractors have experienced bad debt's financial pain, which is defined as a customer who refuses to pay no matter what you do.   I've been there before, and it will probably happen again in the future. Owning and operating any business, including accounting, means sometimes you provide goods and services and not get paid.   When you sat for an exam or a school test and knew the material forwards and backward, it was fast and easy. The exams and tests for the classes you struggled with were the opposite.   In your construction company, it is the same. It would help if you had the answers to develop understanding, which allows us all to let go of the past and move forward. Separate The Good From The Bad Not everyone who never pays you is a bad person. Sometimes things happen which are beyond their control. We have clients who have experienced situations beyond their control in all of our companies, and when it is legitimate, we have been known to issue a letter stating the debt is canceled, and they owe us nothing. Oddly enough, most of them paid the debt years later, and all of them were very appreciative that we treated them with courtesy and respect. Some people are just troublesome, like Bad Bookkeepers, and I would rather be the person who was taken advantage of than the one who took advantage. Do whatever you think is within reason to collect the debt and no more. The Two Percent Rule Some cab drivers in New York City have said 2% of their passengers will attempt not to pay for the ride. After more than thirty years of being involved in construction and contractors bookkeeping services, I have seen the following regarding bad construction debt. The one-person construction business has little or no bad debt; however, as we know, they do not make much money, and that is O.K. Contractors Are Not Bankers You are not a bank, so never, ever use your high-interest credit cards and supplier accounts to provide financing to your customers in the form of offering a lot of labor, material, subcontractors, and rental equipment, hoping to get paid later on down the road. You can recommend financing by getting a merchant account setup at a bank or credit union that will offer to loan your construction client's money for small projects. Your construction client signs paperwork with the lender; you do the work and get paid. Accepting credit cards is another way to offer to finance, and it is like having an "Electronic Armored Car" on standby 24 hours a day, seven days a week, ready to automatically take your money to your bank. If your QuickBooks is set up correctly, an invoice can be emailed to your customer or clients, and when they open it, there is an option for them to pay by credit card immediately. Having owned and operated several construction businesses, I know how important cash flow is to any business's success or failure, especially construction companies like yours. We have contractor clients who took a while to understand why I was hard on them and kept saying, "Get The Money." Once they realized what real peace of mind was - paying all the bills on time, yet still having money left over for vacations, toys, and support their favorite charity - it became crystal clear. Ask and receive job deposits and progress payments so that you are always using "Other People's Money" (O.P.M.) to pay for the labor, material, subcontractors, rental equipment, and overhead of their construction projects. Paradigm Shift As a construction company owner grows their company, sometimes they experience "Growing Pains," which is another way to say "Paradigm Shift" while they learn what worked in the "Dog And Pickup" stage does not work in the "Professional Contractor" stage. It makes sense that sometimes, contractors want to use "leverage" to get paid; however, you could open yourself up to unintended consequences. The Universe is always in balance, which means if you have done the work with integrity, you will be repaid one way or another, so perhaps consider letting them off the hook and forgetting all about it. The 80-20 Rule Finally, consider the 80/20 rule, which means investing your time and energy in the highest and best use, for example: Which action is likely to yield the highest return on your investment of time and energy and put the most money in the bank? #1 Chasing a client who cannot or will not pay #2 Focusing on your top 20% clients and finding more of them We work with many contractors, remodeling contractors, and tradespeople, and we coach the ones who listen to not sweat the small stuff and instead focus on developing a system that can help you win the big game. Which Is Better? #1 Annual sales of $250,000 with $45,000 net income including your salary            #2 Annual sales of $2,500,000 with $350,000 net income including your salary The right answer is whichever one lets you sleep well at night! We show only the necessary tools to open your mind to the possibilities that are available to you. The best finish carpentry tools in a golf professional's hands without proper carpentry training will not produce anything near to what a skilled finish carpenter can. The same can be said about the best construction business consulting and accounting tools in an experienced finish carpenter's hands. Moreover, I say that with respect and admiration for everyone in construction. Final thoughts When You Become A Client - Then, we can tap into our knowledge and strategy banks' resources. We use the reports hidden in your QuickBooks to diagnose and understand your construction business and develop plans. To 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 can lead to a Strategic Roadmap which cannot help but make much money. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0393, And It's About Overcoming Contractor Marketing Challenges Now that the internet has become an integral part of our daily lives, modern consumers no longer depend on television, radio, and print advertisements. We look and go through a plethora of information first, accessed through popular search engines (Google, Bing, and others), before deciding to make a purchase or hire a local service. Technology advancement allowed companies to promote and connect with a larger number of potential consumers than the traditional, physical presence of a brick-and-mortar store. As a contractor, you are no longer confined to your neighborhood and push services directly to them. Your online presence enables you to reach out and pull qualified leads towards your construction company. But what should you do when you don't have a marketing manager that handles this side of your business? I say work with what you already have and go from there. Grow your business and have your target clients come to you by leveraging these challenges and turning them into opportunities: Content Creation These include photos, graphics, videos, marketing copy, and blog posts on your website. I know how this could be overwhelming, especially when you're a one-person team. Start small by thinking that it only needs to equal the thoughts of your customers. Build a persona from your ideal client – list down his/her Demographics (age, gender, profession, income) and his/her Psychographics (wants, problems, desires, pain points, frustrations, and other emotional triggers). Now every time you create content for your website, the context is base on your client persona. What to blog? Tips Tutorials How-to videos Answer the most common (or not so common) questions your clients ask you - their most prominent issues Positive results of your project All in a day's work Your current project (the privacy and security of your client is still a top priority so always be cautious when doing this type of post) Best tools and emerging technologies you utilize to produce quality work Replacement options Questions to ask before hiring a contractor (specific to your trade) Inspiring spaces Checklists Contractor best practices Pick a topic and compose an excellent title. Write your blog post conversationally with a casual tone, as if you're talking to your client, and increase readability by breaking it up into parts using paragraphs and bullet points. Social Media Your social media presence makes your company accessible to your prospective clients. It promotes awareness and increases web traffic. Consider your persona and research what platform will serve you best. LinkedIn – professionals, work connections, business owners Facebook – middle-aged consumers Instagram – younger audience, teens to young adults Also, here are Twitter, Pinterest, and YouTube statistics and fun facts for your reference. If you're not confident and savvy, I suggest going through social media sites to check where your competitors are and how they interact with their patrons. Pick three platforms to start with and download their mobile apps. Share bite-size information and good, quality photos to attract potential clients. What to post? Since people retain more information when a post is paired with a relevant image, let's focus on photos: Behind the scenes Team/crew Office events Quotes Industry insights Local gatherings Community events you're sponsoring/attending Random tip Latest industry news Company sales and promotions (this could seem "salesy" but works great when done right and timed-appropriately) Keep in mind that consistency is key. Interact with your audience and always be authentic.  Reviews And Testimonials Here comes the Word of Mouth in the online world. Reviews come from review sites beyond your control, and Testimonials come from past clients you've gathered directly. Include a Testimonials page/section to your website and encourage previous customers to leave feedback by providing them a form they can fill out. Final thoughts These could be intimidating at first due to a lack of experience or being preoccupied with projects to finish. Don't feel defeated; understand that your strategies need to evolve and expand for your company to prosper as a construction business owner. Be an active listener to the online community you built, and chances are you'll get high-quality leads from them. Always have a monitoring method if your marketing is working or not—otherwise, you can't refine and improve your marketing strategies and budget (for paid ones) unless you measure the results.   Need Help Now? Call Sharie at 1-800-361-1770 or email her at [email protected] Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services Thank you for stopping by. Please know that we do care about you and your construction company regardless of whether you hire our services or not. For help with your accounting and bookkeeping needs please fill out the form on the right and we'll be in touch with you shortly. About The Author: Norhalma Verzosa is a Certified Construction Marketing Professional and works as the Webmaster of Fast Easy Accounting located in Lynnwood, WA. She has a Bachelor's Degree in Psychology and a Certified Internet Web Professional with a Site Development Associate, Google AdWords Search Advertising, and HubSpot Academy certifications. She manages the entire web presence of Fast Easy Accounting using a variety of SaaS tools including Hubspot, InfusionSoft, Shopify, and WordPress.

This Podcast Is Episode Number 0392, And It's About The Benefits Of Adapting To Technology For Your Construction Business If you have a task that you don't like to do, there's an app or software program to take care of it for you. It might take a few moments of your time to learn and understand how the software or app works, but doing so will save you valuable time and precious energy. It will also free you up to spend time on the tasks you love to do, not on all the paperwork and record-keeping that go along with running a business. When you run your own contracting or trade business, your life involves many long days being on job sites while managing projects, staff, and clients. There probably are not enough hours in the week for you to deal with all the issues that arise while keeping your clients happy and taking time out of your schedule to manage your business is probably the last thing you want to do. Thanks to a variety of online software companies, running your business is now a lot easier. You can efficiently manage your projects, employees, finances, and records all through your computer or tablet, freeing you up to focus on your clients.   Here at Fast Easy Accounting, we are thankful for technology tools such as the ones we are using for our current clients. QuickBooks Desktop In The Cloud How much of your time do you spend hunting down financial documents, poring over spreadsheets, and tracking expenses? Searching for and trying to integrate scattered data makes it nearly impossible to close out the monthly books quickly and efficiently. Manage your business finances faster and more accurately by moving them to the cloud. QuickBooks Desktop In The Cloud has several benefits, including: Integration with all your other construction operational systems for the quick retrieval of the most current data; Automation of daily financial processes so you can step away from spreadsheets; Efficient expense tracking that improves accuracy and reduces revenue leakage; and Secure collaboration with team members and stakeholders. Xero Like many construction business owners, you probably didn't dream of owning your own business so that you could manage a paper trail and oversee cash flow. You likely have very little interest in following up on unpaid invoices or spending time paying bills. That's where Xero comes in. Xero takes care of accounting for your small construction business. You can create and track invoices and purchase orders, manage sales and purchases, and set up scheduled bill payments. You can even reconcile bank transactions any time from a computer, tablet, or smartphone and have up-to-date financial information about your business. If you have employees, you can track payroll and manage time and money spent on projects. Xero offers easier business financial management without headaches.  Receipt Bank If you hate taking time away from your clients and work projects so you can manage your paperwork, Receipt Bank has what you need. Receipt Bank is a technology platform that construction business owners can use to manage their vital business documents. Anything necessary to your business - such as receipts, invoices, and other documents - you capture on your mobile phone, through email, or scan on your computer, and upload it to the platform. Receipt Bank then takes the information and displays it for you to download it or send it to connected accounting software. It can also categorize your expenses for you. It requires some time to set up manually, but Receipt Bank will save you vast amounts of time once your account is set up. Hubdoc Hubdoc takes care of data entry, such as entering all your bills, invoices, and other paperwork for you. Hubdoc allows you to take pictures of your paperwork, link it to your account, and develop usable data. It automatically fetches your bills and syncs with your accounting programs. You can even give your accountant access to the program so they can stay on top of your finances as well. If you love the idea of simplifying your home maintenance and repair service business and avoiding masses of paper everywhere, Hubdoc can help you. Hubdoc automatically pulls your bills and statements into one secure hub. This means you have one login to view and manage the documents from all of your accounts. No more logging into ten different sites each month to gather your recurring bills. Three ways to collect paperwork to Hubdoc: 1. Snap a Photo with the App Simply take a photo of your receipt, invoice or bill with the mobile app. Hubdoc scans, extracts, and stores your documents, ready to be published. 2. Forward your Email Paperwork When you become a client, Hubdoc automatically creates a personalized email address just for you. Email in your documents, and we'll do the rest. 3. Scan/Upload your Documents If you've already scanned your receipts, invoices, statements or bills, you can upload them directly to Hubdoc and the software will extract the key data for you. Safe and Secure! Hubdoc uses bank-level security to ensure your data is safe. This includes 256-bit encryption, SSL/TLS, and a Premium Extended Validation certificate -- as well as monitoring and verification from McAfee & TRUSTe, the trusted industry standards in data security. Simplify and Go Paperless! Your important financial records are organized automatically for you, backed up forever and available on any device. Hubdoc is your digital filing cabinet in the cloud. TSheets Getting timecards into QuickBooks and processing payroll can be a big hassle for your construction company. Timecards come in late, causing payment to be under enormous pressure to meet direct deposit deadlines is a tremendous feat on its own. Tracking employee bonuses, reimbursements, and garnishments take time and money and can cost your company some severe fines, penalties, and lost productivity if you couldn't handle it correctly. Manual time cards are painful, and we have found the best time card calculator using TSheets. Final thoughts There's no question that these apps and software platforms can make business owners' lives easier. Most business owners didn't start their business to be surrounded by paperwork and endless record-keeping tasks. Choosing a platform that meets your company's needs will free up time and energy to focus on the things you love to do. Set aside a week or two to look at any processes that can be automated within your business.  Automating repetitive and tedious tasks can help you uncover hidden cost-savers and potential sales opportunities. We use hundreds more in our company - whether it's for Marketing, Accounting, or Production. We have been where you are now and understand how confusing it is to identify which tools are right for your construction company. Please reach out if you need help. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0391, And It's About Telltale Signs Of Bookkeeping Embezzlement And How To Prevent It Bookkeeping embezzlement stems from a feeling of entitlement and the need to get even. Your bookkeeper or accountant will steal if they feel confident they can get away with it and if circumstances allow for it due to weak integrity and a sense of "Redistributing The Wealth, But Not The Work Or The Responsibility."   It is estimated that the number of bookkeepers caught embezzling from contractors is less than one percent of the total. In most cases, the ones that are caught are rarely convicted because all too often, it is the contractor who has to spend thousands of dollars on forensic accountants and attorneys to prove the theft occurred.   In most cases, it is near impossible to persuade the authorities to prosecute when a contractor bookkeeper embezzles because it is often viewed as a "Victimless Crime."   In most cases, an in-house construction bookkeeper starts with good intentions, and over time they become complacent and jealous of the lifestyle they see the contractor enjoying. Unfortunately, they rarely experience life in construction outside the climate-controlled, clean office with good lighting, real restrooms, beverages, and a relatively quiet environment. It makes perfect sense for you to delegate all the mind-numbing bookkeeping services tasks as you can. Contractors who want someone to provide Contractor Bookkeeping Services and pay the bills are practically waving a Red Flag and holding a sign that says, I'm stupid, pay my bills and embezzle as much of my money as you want! When Do Most People Buy A Burglar Alarm? After Being Robbed, Not Before! Whenever you think it is a good idea to give your in-house bookkeeper or any Outsourced Contractor Bookkeeping Service full unrestricted access on your online bank account, savings account, payroll account, or credit card so they can save you time by paying your bills - take two aspirin and lay down for a nap, when you wake up and still feel it is a good idea, think again and review these telltale signs: Your bookkeeper...  - asks for signature authority on your checking/savings/payroll accounts - has a lifestyle that seems above what they are earning - takes Records Home to work on, or they want to work in the office when no one is around (Fraudulent activities are easier when nobody is around) - refuses to take a vacation - has access to your credit/debit cards - receives mail-order packages at work - tries to explain delinquencies tax notices - misplaces payroll receipts, deposit records, supplier letters, and estimates - has QuickBooks in a complete mess, and you cannot understand any of it - is the primary contact for your company's banks, auditors, creditors, etc. (gets angry when you ask for a QuickBooks report) - tries to blame the previous bookkeeper or outside accounting firm for messy QuickBooks - gets defensive when you or your CPA asks questions - makes the bank deposits, and they seem to be too small - does not get along well with other employees and staff members. - suggests they could save money by getting rid of the outside accounting firm There are more warning signs, but it's more important to be aware of the actions you can take: You (the owner) signs all checks - Nobody else ever signs any checks. It is okay if your bookkeeper prints the checks; just make sure the owner signs them. Three separate checking accounts - One for your main operating funds, one for payroll with just over enough to clear all outstanding payroll checks, and one for the owner's debit card purchases. You input the PIN - For all payroll or payroll tax deposits. Letting your bookkeeper be responsible for payroll or payroll tax deposits is like giving them keys to the kingdom and saying, "Take whatever you want." No company credit cards - Let employees be reimbursed for company expenses. Every employee needs time off - Any employee that does not want to take a holiday or a vacation may appear loyal, but there could be another reason. It is wise to check each employee's work when he/she is gone. Make bank deposits every day - Rain or shine busy or not. Photocopy and scan all checks and bank deposit slips and upload them to your paperless server. QuickBooks backup copy every day - QuickBooks has a built-in feature that will do it automatically, and there are several other services you can use as well. Never let the bookkeeper take a backup copy of your QuickBooks out of the office for any reason. Doing so will make it easier for them to embezzle and harder for you to claim your innocence. Petty Cash - If you have a cash drawer, balance it every day the same way as a bank account. Bookkeepers who develop the habit of embezzling usually start with taking small amounts, often from petty cash. Keeping track of small amounts of money can help keep large amounts of money from disappearing. Keep blank checks in a safe - Most office supply stores sell small safes for under $150.00, and it is money well spent. All it does is slow down and deter the lousy bookkeeper. Bank and credit card statements  - Need to be mailed to a post office box or the construction company owner's home and opened by them. Never let the bookkeeper open any bank and credit card statements. Verify  - All check numbers, including voided ones. Check references before you hire - And search for convictions (not charges). Review Your Key Performance Indicators (KPI) - Every day as an internal-control check and watch for unexplained balance changes. Don't hesitate to call the police - If you suspect your bookkeeper is stealing. Waiting can only make it more difficult for the officers, and they may get the idea you are okay with it, which could make it harder to prosecute the offender. Never let anyone take work home - You could get in trouble for not paying overtime, and there are too many opportunities for copying your company files, customer or client lists, and selling them with your competition. (I understand that this is challenging with the current state we live in, it's important to take extra precaution. If most of the actions are followed and you are comfortable with this kind of set up, then it's all up to you in the end). Final thoughts Contractors with bookkeepers paying their company bills are begging to be embezzled. Protect yourself, your family, and your company. There is much work here, but it could save you thousands if not hundreds of thousands of dollars. One of the best ways to limit your bookkeeper embezzlement exposure is to outsource your bookkeeping services to us because we handle all construction bookkeeping services chores, and we never touch your money. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0390, And It's About Contractors Need KPI, Not Get-Me-By Being in your own business can be the best time in your life. Alternatively, the worst time! No one starts a business, especially a contracting business, and have it rolling perfectly with a profit every step of the way. Between regulations, economic uncertainty, and other outside forces; always a learning curve. Picking a Get-Me-By Contractor's Bookkeeping Solution in many cases is using an Excel Spreadsheet and a shoebox, file folders all dumped into a file box and looking at the Online Banking once in a while. This accounting method is the "I still got money, so I must be okay." When you use today's Job Deposit To Pay For the material, labor, and subcontractors from the last job, it is also known as "Rob Peter To Pay Paul." Cash flow is never a problem until the sales stop; then it doesn't matter if it is the economy (your customers get laid off), domino effect (their customer didn't pay them), or you are unable to work due to being hurt on the job or get sick (flu or more serious illness). Problems Arise When You Want To Do Any One Of The Following: Get a Line of Credit at the bank to expand or buy equipment Attempt to get a commercial lease for equipment Setup a 30 Day account at a major supplier Buy a new vehicle for personal or for the company Buy a new house or Refinance existing home Answer questions on Liability Insurance Audit The Insurance Audit The insurance company may want copies of quarterly and monthly tax reports. The Low Premium is based on "low sales" and "low payroll"; at audit time, it is the adjustment in the "Actual" Premium. If all the numbers are equal or less, there is not usually a credit. To verify income, Insurance companies will want to see copies of State Revenue Reports and payroll reports.  State Agencies May Want To Do An Audit On Your Business Some states suggest you get a "Voluntary Review." Depending on the auditor, this may go smoothly. In other cases, it can turn into a full-blown audit. The audit can have a date range of several years, not just the current or previous year. In addition to Quarterly Tax Returns, you, the contractor can be asked to provide the Check Register, Customer Invoices, Employee Timecards and Paystubs, plus the State Revenue and State and Federal Payroll reports. In other words, they want everything to cross-check what you told one agency over another. State agencies are looking at your customer and vendor list to add to their companies' plans to go after next. Banks Want Detailed And Summary Financial Statements Bank wants current and Year to date financial statements and previous Year's tax Federal Tax Returns. In most cases, the loan officer will ask for the application, and financials be provided even when they know that the bank is not lending to anyone for whatever you are asking for. (Example: Working Capital). See Unique Construction Company Financing Secrets Revealed. The Application Process Can Be Many Pages Long And they can feel very intrusive. Before you invest time and energy - verify the bank is lending to contractors. Then ask if the bank is lending for Working Capital, Vehicles, Equipment, or Whatever you need the loan for. What is the debt to income ratios and more? Don't Be Afraid To Ask: What is the bank looking for to say YES! Tax Accountant Uses Your "Get-Me-By Documents." When your Construction Company is small, you may find a tax accountant willing to take your "Get Me By Documents" and do a workaround to file your taxes. Don't expect them to do that Year, After Year, After Year when suddenly you have grown to make over $100,000 in sales and above. They have the reasonable expectation that you are getting it together, and if you don't, then the burden of finding all of your deductions is not on others. Every missed receipt may be a business deduction missed and causing you, the contractor, to pay more taxes than necessary.  Get You By Contractor's Bookkeeping Can Be Easily Solved We have clients who are Brand New Companies: Weekend Warriors, Handyman, Trade Contractors, and General Contractors. In this economy, many seasoned contractors had larger companies and are now starting over. The staff that used to be there and the specialty software to run their business is gone. QuickBooks Desktop is an excellent program to meet the needs of Contactors. The Five KPI (Key Performance Reports) You could spend all of your time seeing a report in QuickBooks and trying to find the way to populate numbers in the report. Many reports are designed for specific things. Take, for example, the view of the Home Page. Just because the feature is on the Home Page in QuickBooks does not mean it is useful for every contractor. 1. Cash How much cash is in the bank? Why - because you have bills to pay, material to purchase, and upcoming expenses.  2. Accounts Receivable How much work have I completed and billed the customer? Contractors get confused and think that the signed contract is for "X Amount," Therefore, they have that much coming before the job starts.  3. Accounts Payable What bills do I have coming up? Accounts Payable is where you track all your supplier invoices and match your subcontractor bills' month-end statement. It is not the place to track your monthly payments to your credit cards, payroll, or other tax payments to State and Federal Agencies. These items are in different areas as liabilities in your QuickBooks file. Please Note: All transactions on your credit cards need to be entered into QuickBooks (not just the month in balance with payment due).  4. Profit and Loss Profit and Loss track your income and expenses and reflect the Gross Profit and Net Profit of the business. This report is date specific. Please Note: Expenses are broken down between the Cost of Goods Sold (direct costs to jobs) and Expenses (which tend to be overhead related). QuickBooks, by default, is on the accrual method. Reports are converted to the Cash Method for Sales Tax and Federal and State Income Tax Reports. 5. Balance Sheet The Balance Sheet is tracking the overall health of the company. Assets include Cash, Accounts Receivable, Undeposited Funds, and Inventory. Yes – the Government treats those piles, boxes, and pallets of unsold material as an asset. (Which increases profit). Unless you have magical skills, it is impossible to trade that box of treasures for a gas tank, lunch, bag of groceries. Having a good relationship with your suppliers is critical. Suitable suppliers will encourage the return of material. Even with a restocking charge – Cash is more useful.  Final thoughts QuickBooks can be set up to do many things. QuickBooks can have as much detail or as little detail as the user wants or needs. It can be used as an electronic checkbook to a simple accounting program with reports. The goal is to have access to useful information you can read and interpret before making any decisions. Making decisions and being adaptable happens every day when you are in business. We understand Contractors and Construction Accounting from your side; what you need and why you need it! Why, because we have been there. We can't think from any position than from management. When you are ready – We are here to help. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0389, And It's About Proactive Contractors Use Lien Services To Protect Cash Flow Proactive versus reactive are the two methods of getting something done. I find everyone works in a combination of both, I included. Proactive is scheduling and doing everything ahead of time. Nothing is ever waiting until the last minute. Reactive is more emergency driven and are things that need to be done now. As much as we plan, it would be best if you were flexible, adaptable, and reliant. Things happen that are beyond your immediate control. Those of you who want a predictable environment are employees working for a large employer where schedules are fixed, and they are doing the same things every day. It was a different mindset when you became a construction contractor. You wanted to be independent, and part of being independent is that there is no one telling you what to do or when to do it. Your suppliers and government agencies direct you and impose fines and penalties when you get off track. The current economic climate is challenging for other reasons I will not go into. My point is there is a reason why things occur; trust the Universe, and when you are in the middle of it, that is not the time to make rash decisions. If you have time to spare, I sincerely encourage you to work on your systems and processes. Think and write down everything done well in the past and review what needs to be fixed, upgraded, discarded, and improved upon. Be Proactive About "Tactical" Issues - Get your tools and equipment in shape, clean, and ready to roll! Clean out the storage area, return, recycle, and dispose of the material you don't need and will not use. Be Proactive About "Strategic" Issues - If you have thought about firing your Bad Bookkeeper, you are already 15 minutes too late! Replace that wealth prevention tool with a Strategic Bookkeeping Service. Develop a Business Process Management Strategy so that when the economy turns, you will be ready. Better yet, if your strategy is right, you may not be as affected by the economy. Food for thought, bread for the head! Let's walk through some scenarios: You choose the type of work that you do.  Are you a General Contractor or a Trade Contractor? Do you hire Trade Contractors (1099 contractors) or have W2 Employees? Additional choices are: New Construction Residential Remodels Service and Repair Commercial. As a brand new contractor, the challenge is getting work to do. Declare all sales, including the tiny ones that you may be tempted to put into "hip national bank."  The amount of tax is nominal; the impact of not doing it can be huge. Part of what you are looking at is Customer Headcount documents; you are a real business. Customer headcount can make all the difference globally, especially if you have only a couple of general contractors you work with.  Hiring an outside bookkeeping firm also counts to prove you are trying to be a "real business" even if you work full time and do contract nights, evenings, and weekends. Starting on the right foot and mindset is essential. Why? - Otherwise, the state worker's comp may reclassify you as an employee of the general contractor. This can lead to additional payroll taxes, fines, penalties, and higher rates as you advance. Be above board and fill out W9.  If your attitude is "It's Not My Problem," please close your company and get out!  No one around you needs the additional liability and stress; being in business is hard enough to keep ahead.  Watch out for the customers who are looking not to pay you the value of your services.  These can be other contractors where you are working as a trade contractor or retail clients. Understand the rules about Notice To The Owner, and each state may have different laws.  On larger jobs, make it a habit to do Notice Of Intent To Lien. The notice is not saying you will lien but protects your rights if you are not getting paid promptly. RED FLAG anytime a homeowner or general contractor implies you will not get the job if you do not do this. DO IT NOW – USE A SERVICE. Run, don't walk. If you are being threatened, then chances are they do not intend to pay you.  Your supplier, whenever material is delivered, will automatically do a Notice Of Intent To Lien. This is a good thing because they help make sure you and they get paid for the job's material.  As a construction accountant, I hear stories every day. Some are from contractors who gleefully brag about how the estimates are rejected unless a discount is given (even when they know the price is reasonable). In my opinion, these are not good customers, just professional scammers. A successful contractor knows his pricing and wants to give his customers good value and pay a fair price to their services. I have heard people bragging about not paying the contractor in social settings unless additional unpaid work is completed. It takes a lot for a customer (I mean scammer) to get on "The Bad List" of fast food places.  Do you have clients, customers, or professional scammers? Just a fence create good neighbors; using a lien service helps you get paid. The alternative is you are racking up your credit card and spending lots of interest. It is an incentive to pay you. Those who never plan to scam; do not have a problem. In my opinion, it is the scammers who object the loudest.  It is hard enough to be a Contractor; this is an easy way to get rid of those who never intend to pay you.  Reactive needs to engage in a service that factors your Accounts Receivables, and more desperate forms of financing are when you have a Quick, Fast Loan that requires daily or weekly repayments.  Summary: The least painful is to collect the money from your client. If being a little aggressive to enforce your lien rights is needed – Do It. – Do It Now, because your general contractors are protecting their lien rights.   In some states, if you are out of business, you can not collect your outstanding Accounts Receivables.  You can't spend or invest money you do not have. It is unreasonable to expect your suppliers to accept your credit card to pay your invoices, and you refuse to do the same.  The excuse you can't afford it; the rates are too high; I want you to refer back to the high cost of No Money or get a high-risk loan. In comparison using merchant services is cheap, and funding is usually in 1-2 days. Both clients and customers typically have a credit card tucked away for emergencies. Polite and tactful do not make your client "feel bad" if they need to split up the payment between several cards.  Final thoughts Practice what we preach. It is by exception that I take checks even from local clients. We offer a Free One Hour Consultation in which I try to provide value regardless of you purchasing future services from us. Affectionately, I summarize my role for Outsourced Accounting Clients is Nurture, Nap, and Follow Up. In other words, I can say the same things other people around you say, but it comes out better. On the flip-side, we have been in construction and construction-related services a long time and know "BS" when we hear it! We are looking to help you, and we expect our clients to follow directions so we can. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0388, And It's About What Does Your Accounting System Say About Your Construction Business? How many times a day do you hear from someone saying, “It’s Boring", or "I’m Bored.” It is a red flag that should light up your “Oh Crap” meter. Moreover, more important, whenever an employee says it. Because this usually means they are shortcutting the work versus the fact that you have so many right processes in place that the work is genuinely dull. Being bored is a factor in manufacturing jobs. I saw a special where a manufacturer described how the process is that they moved employees on a scheduled basis between workstations to help them avoid boredom and stay fresh throughout their workday. Proved to be a Win-Win for everyone. Studies found that alert employees have fewer accidents, which in turn reduces your cost of doing business and raises cash flow and profits. In accounting, you want to be boring. Good to be bored from the standpoint that everything is going smoothly. Anytime it is not, then it is moments of frustration, anxiety, and sometimes sheer terror. Whenever something is going wrong, the instant reaction is to assign blame. Don’t do this! It does not help anything and takes up energy. We review lots of issues; it’s by exception that it is YOUR FAULT! Remember every time you decide; look at a job, meet a customer, hire an employee, and make the best decision possible with the information at hand. Information changes, circumstances change, and sound judgment; good fit yesterday may not be tomorrow or the day after. Common issues in any accounting file - QuickBooks Desktop, QuickBooks Online, or other software is: The initial setup of your QuickBooks file using EZ Setup is designed for everyone regardless of the type of business or size - it is easy to do and hard to use. It may be the software for many people in software moving, changing, “aka” – fixing everything. You have grown and have changed the services you provide. Education and training are needed. You need help from other professionals. - As with all software, QuickBooks Desktop had come a long way from when we first started using it. At one time, it had only one sales tax location and rate, which was OK until States like Washington State changed the reporting rules for Sales Tax. It changed from your business location to destination-based. Thank goodness for Excel, as Randal developed one of many Excel workbooks to give me the information I needed to fill out the Sales Tax form each quarter manually. QuickBooks Desktop releases a new version each year. You can buy the software, install it on your computer, and immediately start using it. You can pick and choose which features you want to begin using:  - Setup Check Register  - Create Estimates  - Create Invoices During one of our construction company periods, we did service and repair with lots of daily invoices. Completing the sales tax report pre-Randal’s Excel workbooks was super awful; with the Excel sheet, it moved to just awful. Life became awesome when QuickBooks improved with the ability to track sales tax and produce a useful report. Better yet, giving credit where credit is due – Randal fixed it! Having the proper tools is the key to everything, regardless if it is in the field, on the job, or in the office. You, your spouse, or your staff can do the work if you have the proper tools. The appropriate setup of a sound accounting system is one of the means for office. We recommend QuickBooks Desktop as the primary software for contractors. It will grow with you and your business, and many tax accountants use QuickBooks Desktop: QuickBooks Pro QuickBooks Premier QuickBooks Enterprise We have found a way to use QuickBooks Desktop in a cloud environment and enjoy all the benefits of QuickBooks Online without the hassles and lack of reporting ability. We found moving QuickBooks back and forth between the client’s computer and ours lead to problems of data put into two different QuickBooks files and no way to merge them. Hint - Online banking provides cloud access, but the actual data is resting on a server somewhere, and it does not work well for contractors. The next step is thinking about the details of your business: What do you want to know about your business? What kind of reports are you receiving now? Do you understand the reports? Who does the reports? Our focus is on helping you be successful by knowing your numbers and making you get it easier. Everything about construction accounting for contractors comes back to a few of the basics. Can you give your tax accountant all the info needed without it becoming a massive project? If someone else is doing your bookkeeping: Do you know what to look for in QuickBooks? Do you know which customers and jobs are the good ones? Are you making money or losing money? Are you able to do Job Costing? We are looking at contractor accounting files regularly, and we speak the language of construction and construction accounting. Final thoughts We are not just “Idea People”; we have an active Accounting Practice offering multiple services. If you could ask your bookkeeper, accountant, advisor any question – What would that question be? In reverse – What question do they ask you regularly that you cannot quickly answer? 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0387, And It's About Five Practical Ways To Get More Leads For Your Construction Business It's unexpected these days that people happen to find your business and become a client or customer with no work on your part. Your construction company has to grab people's attention, turn curious visitors into leads, and then convert those leads into sales. This means that the more solid leads you have, the greater your chances of making a sale. Solid leads are those contacts engaged in your business, fit your buyer persona, and are at least somewhat motivated to make a purchase or hire your services. Here are five great ways to develop more solid leads for your construction business: 1. Target your ideal clients You might want your business to be relevant to everybody, but the reality is that a specific target client is ideal for your construction business. Those clients are the ones who are most likely to be attracted to your services and, therefore, the most likely to purchase them. These are the people to aim your marketing at. Knowing who they are and what they like helps you develop the products and services they'll use. It also saves you money on marketing because you can target your ideal clients, rather than marketing to everybody and hoping somebody shows some interest. Even more important, when you understand your ideal clients, you can build connections with them more effectively, generating leads that can turn into sales. 2. Know your Unique Value Proposition Your unique value proposition is what makes you different from your competition. Every business has something that sets it apart and therefore attracts a specific market. Your products or services might be of a higher quality. You might have better loyalty programs or more specialized staff. Even the size of your business can be a unique value proposition. Smaller construction businesses can claim more personal, attentive, and efficient service for their clients. Large construction companies may be able to handle larger or global accounts. Determine what makes your business different from your competition and use that uniqueness in your marketing. 3. Attend (virtual) networking events Networking events are a great way to get some face-to-face time with potential leads. Yes, in-person marketing takes time and energy, and you can only talk to so many people at a time. But hearing an entrepreneur speak passionately about their business can be very persuasive. Meeting people at events - whether in-person or online gives you a chance to talk to your potential clients and hear what issues they need to solve. Just make sure the networking events you attend are relevant to your construction business and your ideal clients' functions. Otherwise, you'll be wasting that valuable time and energy. 4. Create high-value content With so many people using the Internet to find companies and make purchasing decisions, you need to ensure your business is easily found. Conclusion: that means developing high-value, informative website content compelling and encouraging page visitors to submit their contact information. Make sure you use engaging calls to action. Write blog posts that drive traffic to your website. Develop tip sheets that quickly address some of your clients' issues and get people to sign-up to receive them. Create a newsletter that clients can subscribe to. The people on your newsletter subscription list become leads. Make sure, however, that your content is timely, engaging, and relevant to your clients and your business. 5. Join a local Facebook group I know not everyone has a Facebook account. But this is something I recommend and perhaps you can give thoughtful consideration. Check your Facebook for Handyman, Home Improvement professional, Builder group, or particular to your line of work, and most likely, it will be filled with homeowners looking for services and contractors offering their services. It's free to join and connect with local homeowners and business owners alike. This is an excellent opportunity to be more purposeful in sharing helpful photos, videos, and messages to get to know you and your business. The key to avoiding being "salesy" is maximizing your personality and minimizing promotions. In conclusion Leads don't just magically appear out of thin air. It takes time and effort to develop quality contacts that turn into paying customers. By knowing who your ideal clients are, understanding your unique value proposition, putting in some face-to-face time, and developing relevant content, you can quickly increase your solid leads this year. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0386, And It's About Costly Bookkeeping Mistakes That Kill Profit And Growth Most construction business owners like you understand that effective financial management is key to your success. But lack of knowledge, frustration, and even avoidance can add up to your bookkeeping mistakes that derail future company growth. With everything contractors like you need to do every day, including weekends and holidays, it's too easy to let crisp, timely Financial Reports go unread, and in some cases, you may not fully understand what they are telling you when you do read them. Protect your construction business and reduce stress by avoiding these costly bookkeeping errors: Mixing personal and professional finances From day one, business owners should have a separate bank account to deposit their income and pay their business expenses. It's also crucial to designate a business-only credit card. Come tax time; separate statements will make submitting claimable expenses quick and easy while reducing painful audit risk. Letting accounts receivable slide It's frighteningly easy to lose track of which customers have paid you and which clients are late. Implement a strict policy and schedule for tracking accounts receivable and pursuing unpaid invoices.  Ask customers to pay at the point of purchase or no more than 30 days later; Contact clients to confirm they have received your invoice and to agree on a payment date; Follow up immediately when payment dates are missed; and Keep accurate, up-to-date records of each client's payment history. Investing in a cloud-based accounting solution can make AR a breeze by automating your monthly invoicing – and contacting late payers with a reminder email.  Not tracking direct construction job for each job or project If you want to know where you are making and losing money, you need to implement a system of Job Costing.  Not allocating overhead to jobs For your Job Costing and Job Profitability Reports to be useful, you need a way to allocate overhead among jobs. Overhead generally refers to costs that benefit all jobs. For Example: Office And Shop Rent Office Supplies Admin Staff Salary Officer Owner Salary Marketing And Advertising Consulting, Legal, And Accounting Other Overhead Costs Not using tech to track your expenses Tired of chasing down missing receipts and struggling to justify claims come tax time? There's an app for that! Our outsourced bookkeeping clients have mobile apps specific to their company needs that integrate seamlessly with QuickBooks or Xero. Neglecting to strategize for long-term growth Practical accounting means managing day-to-day finances while making provisions for future growth. Software and cloud-based solutions offer easy ways to track your financials, but they also generate reports and provide analytic tools construction business owners can use for future forecasting. Familiarize yourself with the reports your software can generate to track long-term trends, identify and mitigate risk, and discover new ways to increase profitability. Talk to your accountant about which reports and metrics are most important for your particular business and how to utilize them.  Final thoughts You don't have to go through it alone.  Construction business owners like you are rarely trained accountants. Don't try to manage your company's finances all by yourself.  Collaborate with a trusted professional, invest in quality IT solutions, and spend some time familiarizing yourself with relevant tools and trends.  You'll feel empowered, which is step one to forging a more love-filled relationship with small business accounting. If you need help avoiding these mistakes, fill out the form on the right and I'll be in touch with you. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0385, And It's About Contractor Clients' Four Critical Words That Leads To Change Orders Are you sick and tired of customers continually changing stuff on you and creating delays or extra work? Is your customer leaving you "love notes" regarding minor changes they would like to make on the counter or someplace you can easily find them when you first arrive in the morning? Or the never-ending chain of emails. Or greeting you with "I/we thought we would like to have...." Do these notes, emails, or greetings send you into a mental or alone verbal rant about why they can't leave you alone to get your work done? Are you concerned they expect you to do the additional work for FREE, NO CHARGE, NA-DA, ZIP, ZERO? You needed to be compensated for your time and your crew's time, and you need to do it right away. Listen to your clients and watch out for these four critical words at the beginning of their sentence: While you're here anyway That should be included Since it's open anyway You get it wholesale It's a small change While we're at it It's easy for you I have an idea I need a favor Contractors hear these all the time. Part of the root cause can be traced to a mild case of "Stockholm Syndrome," where contractors feel their cash flow may be held captive by their customers or clients. They do not want to upset their "Captor-Customers," and so they tend to do more than they should. I have a Randalism to share with you: "Hammer, Hammer, Who Has The Hammer?" In this case, the "Hammer" is a change order. This is a bit harsh; however, if you are a contractor, you live in a harsh reality, and the sooner you realize that and take steps to protect yourself, your company, and your family's financial future, the better. 80% of your customers are going to play fair. You do what you promise, and they will pay you, no questions asked, and are the foundation for high-profit repeat clients. 15% of your customers will try to get a bargain - little extras, minor changes. These are marginal customers you will want to replace with high-profit repeat clients. 3% of your customers are "Grinders" and will try to take all your profit by telling you too "Sharpen Your Pencil" which means do the job for your hard cost for material and whatever you pay your employees in gross wages with no allowance for overhead costs. 2% of your customers will do everything to lie, cheat, and steal. This is harsh but true from my experience as a contractor and now as a construction accountant. I have seen it happen to hundreds of contractors and clients, and more than once in some cases. There Is A Hall Of Justice, But There Is No Hall Of Fairness No law says there have to be change orders. A lawyer may enforce a verbal contract; however, for contractors, unless you have something in writing, it is my opinion that construction contracts are fixed in stone. If a deal states, "I will pay you $X to do Y scope of work", your customer cannot force you to do more, and you cannot do less than agreed. Change orders can protect you and your client. Change orders give contractors leverage because you can refuse to make the change unless you are paid. Six Tips To Help Contractors With Change Orders 1. When The Four Important Words Are Spoken STOP, LOOK, AND LISTEN! If it looks like a duck (change in scope of work) walks like a duck, quacks like a duck, it is a duck (change order). There is no such thing as a no-cost change once you understand "What Ten Minutes Costs Your Construction Company ". The little leaks sink the ship (construction company's) because they are "no big thing" a simple "freebie" to maintain "goodwill" so that in time the contractor can go to Goodwill charity for a handout. In many cases you are dealing with a customer who has a "Champagne Diet On A Beer Income" and if your customer understands that something is extra and how much it will cost in time and money, they may change their mind or at least they will know ahead of time how much and when they need to pay. Get the change order filled out and signed before any work is done. There is likely to be pressure on you to "just do it" with the assurance that "it will be worked out later." and other fairy tales. 80% of your customers will pay for services and will not object to signing a change order. In fact, they love it! They want certainty and to know exactly what to expect. That is how they live their lives. 2.  Ask For Payment In Advance What? Ask for payment in advance? Am I crazy? - Contractors are not bankers, but they seem to finance much extra work using their credit cards and paying finance and interest charges. Hint: if you do not have enough cash flow to pay off your credit cards every month, chances are you are acting as your customer's lending institution or their sugar daddy!  Randalism "I am not an excellent judge of a person's credit score; however, I am a good judge of cash, checks, and we accept all credit cards." If you do not accept credit cards, please click here and read this 3. Consult Your Employees Your construction workers are the ones who will do the work. Consulting them and getting their feedback about any potential problems you may not be aware of can save you tons of grief later. 4. Consult Your Subcontractors Consulting the sub-contractors and getting their feedback about any potential problems regarding scheduling and additional materials shows respect and may mean the difference between profitable change orders and non-profitable or even harmful profit change orders.  5. Pay Your Subcontractors In Advance You are going to pay for the change anyway, so why not get some additional benefit from it? Everyone makes choices about which job to give priority to and which ones can wait. In construction, time is money, and whenever a subcontractor makes your job a priority, you make more money. Make your subcontractor's life easy, and they will make your life easy! 6. Download Our FREE Change Order Form We have a FREE Change Order Form Click Here you can download or check our Contractor Payment Application. Final thoughts For homeowners and prospective customers - most contractors have big hearts and want to do what is best for their customers and clients. Most of them have equally big hearts and would never want to cheat you or take food off your table.  For contractors - business is all about building relationships. If someone has invited you into their home, they already know, like, and trust you. Please do the right thing for them, you, and your crew. Give them what they want and get paid for it. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0384, And It's About A Guide To Construction Business Recovery In The Pandemic World As you well know, the COVID-19 pandemic is not just a public health issue; it's also caused lock-downs and resulting financial worries on a global scale.   Almost all business sectors have experienced declining profits, liquidity that is drying out, and even bankruptcy. Although the short-term outlook varies depending on your industry sector, all business leaders need to set up a strategy to guide their way towards recovery.    Nevertheless, the rough and tumble world of construction company ownership is not for the weak or the timid. It is an arena where the admission price is a lot of blood, sweat, tears, and long nights and lost sleep, with peaks of enthusiasm and depths of despair.   If you want some tips on hitting the ground running after the crisis, this guide will outline the steps to get your business back on track.  Assess The Damage Before taking any action, the first thing you need to do is to assess the financial impacts the pandemic has had on your business. You can determine the effect by checking your key numbers. Take a look at your financial statements, especially the profit and loss or cash flow statements, and compare the data to the previous year. If you have any questions about the financial side, please feel free to ask us. Besides knowing and understanding your numbers, you also need to be mindful of any other ways your business has been adversely affected. You have to account for factors such as reducing your workforce and customer churn when preparing a plan to rebuild. Rethinking Your Business Plan What may have worked for your business before COVID-19, may not deliver the same results in the current climate, or the post-pandemic world. Now is a good time to fine-tune your business model and think about how you can pivot and adapt. For example, some people may remain cautious about going to physical stores even if lock-downs are easing. That means you could consider strengthening your online presence and digital capabilities to accommodate customers who prefer communicating with you virtually (phone call or video meeting). You'll also find many useful resources online, including free webinars and other tools you can use to address coronavirus-specific challenges. We'd also suggest you chat with your trusted business advisor for more focused and personalized guidance. As you rebuild your business, you need to pay attention to trends in the construction industry as a whole and try to spot untapped opportunities. Be aware of your business' strong and weak points and adjust accordingly.  As the coronavirus seems to have flipped the business world on its head, it might also be time for you to revisit the goals you've set to make sure that they are still feasible, given the current market conditions. After setting realistic goals, you will need to adjust your action plan to achieve those goals. Additional Funding For Your Recovery Unless you had a large amount of cash before the pandemic started, you might likely need some additional financial support to jump-start your business. You can consider many funding options for small businesses, including government-backed business loans, wage subsidies, grants, and other support schemes.  Assess Your Budget As we come out of the pandemic, expect that you will have to spend money before making money. For instance, if you had to lay off employees when the coronavirus hit, you may have to spend money on hiring and training new employees if you can't rehire the people that you had to let go. You might also need to prepare for additional spending on cleaning, inventory, and marketing post-pandemic. Whatever your additional costs are, the key is to have a clear idea of the necessary spending that you need to budget for and which ones can be reduced or eliminated to make the most of the revenue that is coming in. As much as possible, keep your operating budget lean so that you can invest in future growth opportunities. Develop A Timeline As much as you want to get all business matters sorted out at once, this is far from realistic. Try to take stock of where everything is up to and decide what to prioritize. From there, create a timeline that you will follow to get your most important business activities done first. While you accomplish the steps in your action plan, make sure that you're tracking your progress. If possible, do a weekly check of what's working and what's not, and then make the necessary tweaks. Don't waste time and resources on business activities that are not producing a solid return on investment. As your construction business starts to return to normal, you might transition to reviewing your financials monthly. Prepare A Contingency Plan  The COVID-19 crisis is a wake-up call that shows us unexpected events such as this can disrupt your small business at any time. Learn from this experience and prepare a contingency plan that will cushion your business from possible future shocks. Aside from thinking outside the box and having a Plan B (and even a Plan C, D, and E) that will help you prepare for the worst, improve your position in tough times by building up your cash reserves, paying down your debt, cutting down on non-essential spending, and increasing operational efficiency by streamlining processes and boosting your employees' productivity. Leading Your Business Towards Recovery While COVID-19 has affected nearly every person and business in some way, you should take into your own hands the task of finding the light at the end of the tunnel. To cope with the changes and find your way to the so-called "New Normal," you must be agile enough to step up your game and confront the business challenges now and in the uncertain times ahead.  Final thoughts While you prepare to get your construction business back to full speed, it also helps to have a business expert to guide you in rethinking your business strategy and rebuilding your business into a more resilient one. If you need personalized advice about your specific situation, get in touch with us to work out a plan.   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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0383, And It's About 8 Common Challenges New Construction Business Owners Face Freelancers in all industries deal with the same problems due to the nature of their work. Most of you came from the skilled craftsman trades, some of you worked as a manager for a construction company.   Practically,  solo contractors manage every aspect of their business. For that, you have made an important decision to own and operate a construction company.    If you're thinking of dropping your career as an employee to start your own company, consider the following obstacles you will need to navigate. Unfortunately, problems beget more problems, and a shaky foundation quickly leads to a crumbly business and many regrets about starting in the first place.   1. Bad customers Customers who demand too much work for too little pay, clients who do not pay on time, and especially those who do not pay define our expectations for the next client. New contractors often do not know how to tell the difference between a good client and a bad client until after the contract has been signed. Or worse, a contract is never signed, and the contractor accidentally does work for free, much to the delight of the shady client. 2. Bad pricing Pricing that is too low attracts wrong customers like flies to a dead horse. The outrageously low price signals that the contractor who made this bid or asked for this rate has no idea what they are doing and does not value their work; that they are new and can be taken advantage of. If you price your work reasonably, you are much more likely to attract reasonable clients. 3. An unprofessional website Too many contractors have websites that look like they were built in the late 1990s. It's essential to create a user-friendly website that clients will find aesthetically pleasing, whether you made it yourself or hired a web designer.  A professional website signals that you take your work seriously and demand to be treated with respect. A clear photo somewhere on your homepage also helps your client see that yes, you are human, and no, you are not likely to be okay with doing work for free. 4. The lack of experience This is a tough one. Of course, if you have just started in the world of being your own boss, you don't have much operational experience. Cutting laminate, installing pipes, or repairing the electrical system is a trade skill. It certainly took a lot of knowledge and expertise to hone your craft. Creating proposals and pricing a job is a business skill. Fortunately, it's very similar to when you got your first job. Apply for smaller, lesser-paying employment and work your way up to well-paying projects. It is typically easier with contracting to attain higher-level jobs than if you were, say, working in retail. A contractor with an extensive portfolio on their professional website is very likely to be trusted for larger projects. 5. A shortage of initiative and drive New contractors start with seemingly inexhaustible enthusiasm and as much passion as you could find in a young and overly optimistic entrepreneur. Like the effect of caffeine in the morning, this wears off before much work has been accomplished. Then the initiated contractor hits an unexpected snag or feels overwhelmed with the amount of work to be done and wonders why they ever started in the first place. A sense of drive and ambition need to overcome all obstacles to succeed. As a self-employed business owner, a contractor has no boss spurring them on. Since many lack self-discipline and an intrinsic sense of motivation, freelancing is undoubtedly not for everybody. 6. Persistent feelings of inadequacy OR a tendency to blame others for perceived failures Failings of motivation usually stem from feelings of inadequacy, and lack of initiative comes from a tendency to shift responsibilities. If an independent worker suffers from low self-esteem, where will the confidence go into the market themselves and negotiate project costs effectively? It's also easy for a contractor to blame the scarcity of good clients than take responsibility for the fact that their market strategy is failing. 7. Not researching enough Sometimes these personal failings could be fixed through simple research. Knowing what other contractors have done in similar situations increases confidence in making business decisions. Minor successes that result from positive business decisions and overcoming obstacles build motivation. Research on business matters affects mood and level of dedication to making it as a contractor and is therefore crucial to the beginning of any contracting endeavor. 8. Not understanding freelance work Many aspiring to self-employment do not have any idea what freelancing entails. Contracting services to homeowners or individuals require lots of time and effort to earn a profit immediately. Employees tired of their own work lives idealize those of business owners and often ignore the difficulties faced in this environment. Before counting on notions of optimal freelancing experience, consider your own life, strengths, and abilities. Ask yourself these questions: "Am I truly ready to begin a long-term career in contractor work?" and "What do I want to achieve through my contracting business?"  In conclusion If you are currently a new struggling self-employed contractor, tackling these problems from the bottom up streamlines the path to success. If you ever become discouraged, remember that everyone starts at the beginning and that you can achieve your desired level of success if you put in the work to attain it.  Profitable Contractors and Construction Company Owners know the value of construction bookkeeping and accounting. We are here to help you a little or a lot, depending on your needs. Good luck on your new adventure! P.S. Use coupon code LABORDAY30 for 30% OFF our QuickBooks Setup And Chart Of Accounts Templates in our Fast Easy Accounting Store and online courses at Construction Accounting Academy. Valid until Wednesday, September 9th, 11:59 PM. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0380, And It's About How To Grow Your Construction Network Without In-Person Events Networking can be a crucial way to keep your construction business growing.   Profitable contractors attend networking events not because they have nothing better to do; they do it because it pays off. You can either spend hours doing office tasks like bookkeeping or getting face to face with someone who may need your services. Meeting people gives you the chance to build and develop relationships, hire you, or refer you to someone who might.   Regardless of your industry or business size, it is hard to ignore the benefits of forming professional networks for potential partnerships, expanding your client base, and scaling up. However, while we are constantly reminded about the importance of networking, reaching out to grow your network isn't the same now, thanks to the COVID-19 pandemic.   Social restrictions to prevent spreading the coronavirus do not allow traditional networking approaches such as in-person conference events or face-to-face business meetings over coffee or dinner. However, this doesn't mean that you should put all your networking efforts on hold because no one can tell when this global crisis will end.   It becomes more important than ever to try new ways to increase your sales and ensure that your business stays afloat during these difficult times. In this article, we will explore a couple of strategies to keep up your networking efforts during the COVID-19 crisis and well into the future. 1. Host Webinars, Online Courses, or Podcasts (or participate as a guest on interviews) Webinars, online courses, and podcasts give you a chance to establish thought leadership and be at the forefront of your industry.   Now that most of the world is in lockdown, it is the perfect time to start that project you've been meaning to work on but haven't found the time. When done right, you will be able to engage people in your existing network and add more people to your database.   Take the time to do some planning on the industry-relevant topics that you'd want to discuss on your webinar, online course, or podcast. Include interactive activities that will keep your audience engaged. Don't forget to let the participants know about your website (especially if you're the one being interviewed), or other classes or webinars. These subscribers can help you keep your network growing. 2. Offer free downloadable content Whether you are creating fresh content or re-purposing existing content that you already have, aim to provide value that will attract new people to your network.    You might create eBooks, courses, whitepapers, research reports, and other valuable content that people in your industry will find useful. Offer your content to your current contacts and promote them even further through social media and email marketing. 3. Take part in new online communities  As the COVID-19 pandemic changes the way we interact, you should move online to connect with more people. Join virtual discussion groups and online communities that will give you an opportunity for targeted networking.   When you do an online search of relevant groups, you will find that there are thousands of them. You don't have to join every single one-- just choose two to three that are most suitable and start participating. Engage by reacting and commenting on other people's posts, provide useful tips, and consider sending a direct message to start a conversation. Don't try to be too "salesy," though. 4. Tailor your messaging When trying to connect with people online, don't just send a stock-standard template-- develop strong relationships by maintaining real and genuine interactions. In other words, don't send a message that you wouldn't be comfortable receiving.   Make an effort to personalize each email instead of sending a generic message. You can reference a past event that you both attended or projects that you worked on together, if there are any, to show authenticity when reconnecting.   If this is not applicable, you can also share encouraging words and stories, or ask if there's anything you can help with. 5. Get involve in philanthropic initiatives Times of crisis teaches us that we are stronger if we work together. In these trying times, there are many initiatives to help those in need.   By collaborating with charitable organizations and participating in volunteer programs, you are hitting two birds with one stone-- doing some good for society and tapping into opportunities to expand your network.   Besides adding people you've worked with in these philanthropic events into your contact list, you can also share these experiences on social media. Keep Growing Your Network These are tough times for many people, and networking may not be on your priority list. However, it is essential to keep working on those human connections, as the effort you invest in making them will have a significant return on your business in the long run. Although not every online networking event is going to yield a harvest. You might end up learning about all kinds of needs and opportunities about everything under the sun except what you came for - qualified construction leads to support your business. However, this is another path to cultivate and harvest repeatedly. By nurturing and strengthening your relationships during this period, you will enjoy positive impacts that last until better times return. Final thoughts  Remember, as Randal says: It is not what you know. It is not who you know. It is who knows you - that is what counts.   When Power Connectors know you, it's more valuable than silver and gold; they are the core of your network. They are the people who know, like and trust you. Nurture and build your relationships with them by adding to each other's emotional bank account. They are the people who know you well enough to answer your phone call at three o'clock in the morning. That is what counts.   Construction is a relationship business, and trust is everything. Networking is not rocket science - it is a lot harder because you are dealing with people. With rockets, if something goes wrong, you learn what not to do the next time. With people when something does not turn out as you expect, it is much more complicated, but with the proper association can work to your advantage. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0381, And It's About The Value Of Service Agreements In Your Construction Company It goes to the heart of the question of the difference between a customer and a client. Service agreement holders are more likely to be clients who add more value to your construction company because they represent your customer base's most loyal segment.  Every service agreement customer represents future work. In the meantime, service agreement clients are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary. Non-service agreement customers are more likely to be customers and fickle. They may call your contracting company for future work or decide to shop the competition and use the information they find to negotiate for a lower price. In some cases, they may not even remember you or your construction company name. Besides, your replacement sale close-ratio usually is higher with service agreement clients, and your overall pricing and related service care level can be much higher, resulting in even more raving fans. Service agreement clients trust you, follow your recommendations, and do not frequently shop around.  When and if you ever decide to sell your company, potential buyers understand the value of service agreements, and your company will be more attractive if you have a strong base of service agreement clients and are generally willing to pay even more for it than you expected.  Service Agreements Place On The Financial Reports The Balance Sheet is the summary report which shows all of the assets minus the liabilities, which equals the "Book Value" or owner's equity. In theory, the owner's equity is what would be leftover if you liquidated the company, sold the assets, and paid all of the debts or liabilities.  Your service agreement clients' true value will not show on the Balance Sheet before the business is sold; however, it is used to calculate "goodwill" if the buyer pays more than book value for the company. Construction Accounting As It Relates To Service Agreements The price of a service agreement must pay for the corresponding maintenance, and whatever is left after the cost of material, labor, and other expenses is gross profit. This means every service agreement carries a hidden cost for future maintenance work, which equals the total value of services yet to be performed. For example, a plumbing contractor might sell an annual service agreement that entitles a restaurant to four follow-up drain cleaning package visits each calendar quarter for $600 and a 20% discount on all additional services. This means you will send a plumbing drain technician to clean the restaurant's main drain four times a year at a cost to your company of $75 for labor and overhead each = $300. The service agreement's income is $600 - your cost is $300 = $300 additional income. Keep The Service Agreement Cash Separate One of the best parts is that you have an immediate increase in cash flow. Successful contractors put the cash in another interest-bearing bank account and do not transfer it until the work is performed. It is not even necessary to recognize it as income until the job is done. Maintenance That Is Never Performed Some clients will not return phone calls and never let you schedule their service. Here are two suggestions to consider: #1 Disconnect The Work From The Payment  Think about a pre-paid annual gym membership. It gives you the right to use the gym for the next year, but if you fail to take advantage of this benefit of membership, you do not receive a refund after the fact. #2 Maintenance Is One "Free" Benefits  The obligation to schedule the maintenance should rest with the client. We recommend that your customer service representative contact each service agreement client to schedule services; however, if the client refuses to set an appointment, the contractor's obligation is met. Five Benefits #1 Your dispatcher can group service agreement calls together saving travel time #2 It can be used to fill in slack times when there is not enough work to go around #3 It is a great way to train new technicians by having them shadow experienced technicians #4 Add on sales while the technician is onsite they can ask if there is anything else that needs to be fixed or upgraded #5 Immediate increase in cash reserves Five Drawbacks #1 Your dispatcher may not be able to group calls together #2 You may not have any slack time to fill #3 It costs more in the short run to train technicians this way #4 It will require you to have a way to track the upcoming service agreement dispatches #5 It requires a bit more construction accounting than most bookkeepers know how to do Final thoughts Service Agreements raise your construction company's value if you ever want to sell it for much cash because investors buy income streams, not worn out broken down equipment and stale customer list. The final decision rests with you to decide if adding service agreements to your contracting company makes sense. It requires a bit more construction accounting than most bookkeepers know how to do, and if needed, we can help train them. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0380, And It's About Contractors, Know What You're Good At And Generate More Leads The pressures of owning and operating a construction company can be, at times, almost unbearable. Unlike any other business, there's no "one size fits all" solution in your toolbox to fix your dilemma. Everything is created twice. First, in our minds, and when we do the work to bring them into physical existence. Take your power and take control of your ability to Be-Do-Have. You can re-write your scripts and take control and responsibility for the outcome of your Construction Company by using your imagination, conscience, and excellent implementation of your business plans. Concentrate Successful contractors know what type of contracting they are good at doing. SWOT Analysis is one of the tools we use in strategic planning for construction companies to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in determining the particular target market. Strengths - are projects that your construction company does exceptionally well and earns a higher than average gross margin that gives you an advantage over other contractors. What are they, and how can your construction contracting company expand on them? Weaknesses - are projects that your construction company does poorly at and breaks even or loses money. What are they, and how can your construction contracting company turn them into strengths? Opportunities - are projects and markets not currently being served where your construction company can enter and turn them into strengths. Threats - are elements outside your construction company that could cause trouble for you or your construction projects. What are they, and how can your construction contracting company turn them into opportunities? A SWOT analysis will help you identify each of these characteristics for your business to understand better what you're doing well, what you could improve, and which external factors could affect your business. Generate Marketing is a science, not an art. Now that you've analyzed your SWOT, you laid the foundation by having a vision for what your Construction Company will be when you finish building it, you know who you are, and you know who your prime client is. You can quickly generate more leads than you can handle. Let's Run The Numbers Starting With The Cost To Acquire A Customer Step #1 – Generate a Profit & Loss Report from the previous two years and isolate total income. (Note: All companies are only two years old regardless of how long they have been in business because what happened more than two years ago doesn't matter when developing a financial forecast). Step #2 – How Much Money Did You Invest In Marketing? Not investing money in marketing is like winking at a pretty girl or guy in the dark, you know you are doing it, but they don't. Relying on word of mouth means being in a race for the championship of low price leaders! Step #3 – How many new customers or clients did you acquire during the past two years? Step #4 – Divide Total Income from step #1 by the number of customers or clients in step #3, and you will have a rough idea of your sales per customer. Step #5 – Divide The Amount Of Money You Invested In Marketing by the number of customers or clients in step #3. Just know that 80% of the marketing is done to keep current clients, and only 20% is designed to attract new ones. Why do you suppose the car manufacturers invest so much money advertising their products when most people continue to purchase similar makes and models repeatedly? Step #6 – Multiply The Net Profit Percentage shown on your Profit & Loss by the sales per customer in step #4 to generate a rough idea of a customer's net worth to your Contracting Company. This is one of the numbers that become very important if you ever want to sell your Contracting Company. Step #7 – Customer Gross Profit in step #6 minus marketing cost in step #5 = Customer Net Profit. Step #8 – Where MR > MC - When the Marginal Revenue is greater than the Marginal Cost and risk is manageable, do the deal. MR>MC is a long discussion for more on it click here Step #9 – Where is Break-Even, or how far can I go before it is time to quit doing it? Step #10 – When You Know How Much A Client Is Worth, you will know how much you can invest to acquire a new one and as many new ones as you want.  Step #11 – Keep Your Existing Clients Happy and continue offering new products and services.  Would you like to start evaluating your geographic and demographic target markets and develop strategic plans to increase your company sales, cash flow, and bottom line profits? Focus on a few Key Strategies that require the least amount of effort and generate optimum sales cash flow and earnings for your contracting company by taking our SWOT Analysis class. Final thoughts Seeing the strengths, weaknesses, opportunities, and threats of your business and various projects is essential in fine-tuning your strategy. SWOT analyses are a great way to explore potential solutions, identify potential barriers, choose an effective strategy, or revise an existing policy. Conduct regular SWOT analyses to keep your business on the right track, and whenever you're faced with a decision. Be the contractor who will do whatever it takes to rise above owning a job and develop a construction business that will provide for themselves and their families for a lifetime. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0379, And It's About Five Ways To Increase Your Construction Business Profit First, we always ask our clients to decide what they want from their construction company. Do you want to get rid of the boss? Do you want to work in a more structured environment? Are you sick and tired of working for the boss's son or daughter? Do you want to make much money? Do you wish to make enough money to pay the bills and enjoy a vacation now and then? There are no wrong answers, whatever is right for you is the correct answer; however, you need a reason to do it otherwise when the going gets tough, and it will, you will either win or lose depending on your purpose. With a big enough reason, you will find a way to win.   For many small construction companies, the best way to improve profitability is to increase turnover, as there's no limit to sales, but there is a limit to how much you can reduce your costs.   Let's look at how you can focus on each of the five ways in our profit increase calculator to achieve your goal of improving profits.   1. Increase your leads By interacting with a higher number of people, you'll increase your chances of turning more website visitors and callers into clients – or at the very least, having them lead you to potential customers. So what can you do to increase leads or make more people aware of your business? A few tactics you might consider using to increase your leads include: Advertising – set a budget and increase how much your business is promoted. Direct marketing – work out your target audience and market directly to them via email. Network – attend industry events and conferences to meet potential customers. These may be moved online in the meantime. Create a website – to open online opportunities and increase your local reach. Develop new distribution channels – think about partnership and collaboration with other industry experts. 2. Convert more of your leads into clients How many potential customers walk out of your store, leave your website, or inquire about your services without hiring your services? Just imagine if you could convert 10% of those people into clients. How many extra sales per day would that be? A few tactics you might consider using to convert more leads into customers include: Arrange training for employees – on sales conversion and sales closing methods. Personally attending a sales training course. Running demonstrations – for potential customers to see what you have to offer and how they could benefit. Highlighting your services' benefits – through promotional material, your website, blog advice, social media platforms, and free trial offers. Preparing incentives – for your staff to offer to potential customers, hopefully encouraging them to purchase or hire your service. 3. Increase the number of items you sell per client If you can entice your customers to purchase just one more service from your business each year, your sales (and hopefully your profits) will increase. A few tactics you might think about using to increase the number of items you sell to each customer include: Widening your service range – by asking customers what else they would be interested in hiring you for. Bundling products and services together – like adding after-sales help to certain products. Increasing capacity and capability – for example, purchasing extra equipment to increase your capacity while hiring additional staff to enhance your capability. Researching your competitors' offerings – to find product or service opportunities. 4. Increase your average sale Can you come up with some ways of increasing the average value of each sale you make? Rather than hiking up prices, see if you can raise rates by small margins (like 1-3%) or find ways to sell higher-priced items more often. A few tactics you might think about using to increase your average sale include: Training your staff – so they're confident offering complimentary items and upselling more expensive goods. Increasing prices across the board – would your customers notice a small price increase? Consider informing them and trying it, as the extra money will go towards your bottom line. Advertising your higher-valued services more often. Developing a premium product or service – and encouraging your regulars to go for it. 5. Increase net profit percentage An easy way to increase your net profit is by lowering your fixed costs (business overheads). Identify your top five expense items and track any changes before taking steps to reduce them. A few tactics you might try to increase your net profit percentage include: Identifying and monitoring your top five expenses in your budget reports. Finding out where you can make savings and reduce costs. Concentrating on higher-margin services or products. Looking at alternative suppliers with cheaper supplies. The best way to do this is by incorporating LMOS Cost Codes into your accounting system for easy tracking of costs and as a foundation piece of Job Costing Reports. In our Construction Accounting Academy, we have a class devoted entirely to teaching our LMOS system. It goes into detail how to set up LMOS in QuickBooks desktop. Final thoughts  Review these five ways of increasing your profits at least every year. By using simple, practical steps, you can improve your business's profitability.    You get the best contractor bookkeeping services company on your side by working with us, which means you will substantially improve your chances of success. We are not Jack-Of-All-Trades, Master-Of-None accountants or bookkeepers who take anyone who contacts us. We are construction accounting specialists, with one purpose and only one purpose; serve construction contractors in the business and those who are preparing to get into the business. Contact me today for your no-charge, one-hour consultation. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0378, And It's About The Value Of Unique QuickBooks Reports Specific For Contractors Some applications make almost everything easy, including accounting software. Too many contractors find out too late the adage "You get what you pay for" still applies.   Hundreds of contractors and regular bookkeepers have told us how simple QuickBooks is to use, yet they cannot understand why QuickBooks for Contractors is so hard to use, and it is getting harder every year. I agree with them.   Making a lot of money as a contractor is easy if you know what to do, and I don't mean your ability to produce more fieldwork than anyone else, although that does help.   Each contractor type has unique construction accounting needs, which means if the QuickBooks process is custom-fitted to each construction company's needs, it is a beautiful thing.   We have listened as our contractor clients have described to fellow contractors how "fast and easy QuickBooks is and what wonderful reports it generates," while the other contractor will describe in no uncertain terms what a piece of junk it is. The difference is in the QuickBooks set up. Two woodsmen will cut and stack vastly different firewood piles in a day if one uses a chainsaw as it was intended, and the other uses it as a cross-cut saw. Same tool, different result! Taking the time to regularly review financial statements can help you assess and improve current performance, avoid risk, and make scalable future growth plans. If your QuickBooks setup was done by a QuickBooks Expert in construction accounting and maintained correctly, you are riding high and living well! If not, we can fix just about any QuickBooks setup by performing a QuickBooks cleanup and importing all of the transactions. The Chart of Accounts is the foundation, and if your Chart of Accounts is not set up right, you will not have anywhere to put the transactions. The QuickBooks For Contractors Reports inside the desktop version is easy to understand when you think of them this way: #01 List Reports show things like customers, employees, and vendors. They can be sorted and filtered to provide contact information, including social media and demographics. #02 Primary Financial Reports like Profit & Loss and Balance Sheet - how your construction company is doing from a big picture view (also known as the income statement). They can be sorted and filtered to provide more detail, and you can drill down into every transaction if you want to. #03 Job Costing Reports like Profit & Loss By Job, Job Profitability, and Estimates Vs. Actual Reports. They provide you with the foundation reports to help you understand where your construction company is making or losing money—the 80/20 Rule For Construction Success. #04 The Five Key Performance Indicator Reports - they are a unique combination of reports that we use to help our construction contractor clients get a Fast Easy Accounting view of their construction company in only five minutes a day. They are "The 5 At 5 For 5". If you will review these Five Reports at Five O'clock (or whatever time is best for you) for Five Minutes and do it every day in 90 days or less, you could see a dramatic improvement in your bottom line profits and cash flow.  We can assist you in getting a better understanding of your financial reports. We use QuickBooks for Contractors, and our customized QuickBooks setup is designed to facilitate built-in job costing reports plus being able to export to our Excel-based pay application nicely. One of the most common questions we get is, "How involved do I need to be?" In all cases, the owner should have a "hands-on" approach, including paying the bills because we do not touch your money. It is optional for our clients to have 24/7 access to their QuickBooks files and review their Key Performance Reports/financial reports daily. We continually improve processes to make other reporting methods available. With us handling the contractors bookkeeping services tasks, your in-house staff can work on more productive tasks and do what they do best. When you understand your company's key financial data, you pave the way to smarter decision-making and sustainable growth for your construction business. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0377, And It's About Troublesome Customers Every Contractor Should Learn To Recognize And Deal With Customers are disloyal price buyers who purchase commodities and services with cost as their primary consideration. Clients are loyal value buyers who purchase goods and services with suitability as their primary consideration.   Every businessperson knows that customers and clients are not created equal. Clients are loyal, while customers will stray if they're offered a slightly lower price elsewhere. Some customers are demanding, while clients only call when they wish to hire you right away.   Every business must deal with a variety of customers and clients. But there are certain types of customers who do more harm than good to your construction business - they drain your resources while adding little to your revenue.    Your business strategy will determine which group you want to serve, and there is no right or wrong answer, just different approaches.   Here are five troublesome customers that every contractor should learn to recognize and deal with. 1.The controlling customer who micro-manages your every move. You know this type reasonably well. The dad - lounging on the sofa while you are renovating the fireplace, the mom - insisting to "help" you in the kitchen renovation by sharing her design ideas while you're replacing the drawers. Or worst yet, homeowners who sit nearby, watch you, and meddle with your every decision - either out of curiosity, lack of trust, or making sure your work is up to their standards. 2.The customer who refuses to pay All construction contractors have experienced bad debt's financial pain, which is defined as a customer who refuses to pay no matter what you do. Not everyone who never pays you is the wrong person. Sometimes things happen which are beyond their control. 3.The customer who complains publicly about your company's services. The growing visibility and influence of social media have made this type of customer more dangerous than ever. This is especially true if your construction business is a large and well-known company. But it can still damage small construction companies' reputation through Google, Facebook Page, or Yelp reviews. Social media sites like YouTube and Twitter give disaffected customers the means to broadcast their concerns to a considerable audience. 4. The customer who unreasonably takes advantage of special offers or incentive deals. If a customer repeatedly signs up for a service to take advantage of a low-priced introductory offer and then cancels when the initial period comes to an end, the customer will not help your construction business succeed. Such customer behavior may be perfectly legal, but outside the boundaries of appropriate contractual interactions. 5. The customer who makes threatening demands. The B2B (Business to Business) customer who makes demands and frequently threatens to take their business elsewhere if they don't get exclusive deals. At a certain point, it is necessary to acknowledge that such customers are more trouble than they're worth.  What to do Weed out customers from prospective clients by developing a better inbound marketing plan. You can incorporate your policies and procedures (signing contracts, payment applications, addressing issues and concerns, and others) through the Frequently Asked Question (FAQs) section of your business website, email, or written documentation.  Remember, you're a contractor, not a banker. Never lend money to a customer to provide a lot of labor, material, subcontractors, and rental equipment, hoping to get paid later on down the road. Accepting credit cards can help customers who are in short cash supply and add to your sales and profits. Do whatever you think is within reason to collect the debt and no more. Develop an appropriate response for customers who leave unfavorable reviews, negative feedback, and disapproving social media posts about your business. Where possible, try to educate the customer - respectfully and courteously - about reasonable and acceptable interactions in the marketplace. If this fails, you may have to consider "firing" the customer.  Final thoughts  Shedding your construction business of undesirable customers has multiple positive impacts - in addition to improving the bottom line, it boosts employee morale. It allows you to focus more resources on your profitable clients. For what is worth, we only serve clients in our construction accounting and bookkeeping services firm. I invite you to contact us (through the form on your right, or by email) and perhaps we can work together.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0376, And It's About Brace Your Construction Business From Recession The pains caused by an economic downturn can be excruciating, which is why most of us dread it. A recession can mean massive layoffs, jobs becoming harder to find, and wages frozen, which means consumers hunker down and spend less-- often worsening the slowdown unknowingly.  For most businesses, especially small businesses, recessions can be brutal. Just take, for example, the Global Financial Crisis (GFC) that struck the world in 2008. Between December 2008 and December 2010, approximately 1.8 million small businesses shut down. When Investopedia looked into the financial crisis's impact on small businesses after a decade, they found out that business creation has not yet returned to pre-crisis levels.  As the battle against COVID-19 is far from over, global financial markets have been impacted, consumers are tightening their belts, and global demand is falling. All these signs point to one thing: the next economic downturn may be right around the corner. Don't get us wrong; we are not here to scare you. Our hope is for you to build a successful, future-proof construction business. That means you need to be aware of the possibility of another recession so you can prepare adequately.  Stay Close to Your Numbers Without a crystal clear picture of your business' financial health, you will not create an effective strategy that will help you weather this significant business challenge. By making an effort to understand your financials, including your revenue, expenses, profits, and cash flow numbers, you will be able to plan accordingly. Check-in with us and we'll help you review your cashflow forecasts. These forecasts will help you conduct best, moderate, and worst-case scenario planning. Doing this will help you make sound business decisions based on updated financial data, rather than being driven by emotion, intuition, or just guessing! Improve Your Cash Flow Cash flow is the lifeblood of your construction business, and ideally, you should be bringing in more income than the amount you are spending to sustain your business. However, before you can improve your cash flow, you must first ensure that you have accurate financial records and an effective accounting system.  Once you have these sorted out, it will be easier for you to control your cash position through: Payments from clients-- timely invoicing, chasing debts, and offering to restructure overdue payments Reducing your expenses by reviewing software subscriptions, renegotiating terms with your suppliers and lenders Secure financing from government stimulus funds, take on investors or get short-term financing. However, if you are thinking about incurring debt during a recession, we would recommend consulting with your accountant or financial advisor first. Make extra effort in nurturing your relationship with existing customers Enhance your products and services Maintaining, Or Even Better, Growing Your Client Base If you want your business to thrive during a recession, you likely need to grow your client base. One way to do this is by digging deeper into your target market and coming up with ways to tweak your offers to entice them to hire your services even during severe economic conditions. You should also research your competitors, identify your point of difference, and plan how you will communicate those selling points to interested customers. We understand that getting more clients during a time like this is easier said than done, but what many business owners fail to realize is the fact that their existing customers are often their best opportunity to make more sales. Keep your clients happy, identify how you can add more value to their lives, and reach out to them to take advantage of untapped sales opportunities. Focus On Your Strengths The concept of "diversification" is usually taken in the wrong way. Merely adding a host of different products and services to your offerings will not magically transform your construction business. It may be a waste of time and resources and stop you from focusing on the things you do best. During an economic downturn, you should re-evaluate your existing services, and focus on your key strengths or core competencies. Improve Your Marketing Efforts One of the most common construction business owners' mistakes is that whenever they need to minimize their expenses, they automatically cut their marketing budget or even re-allocate it entirely. Marketing and sales go hand-in-hand. So if you want to keep a healthy flow of sales coming in, you need to have strong marketing. In today's fast-paced world where consumers are restless, they will become even more careful in their buying decisions. Marketing is your tool to help them find and see your services as the best options. So instead of quitting marketing, now is the right time to step up your marketing efforts. Don't Be Afraid to Play Offense Those who go full survival mode and limp through the economic downturn will be much slower to recover and have a lower chance of catching up. Secure your cash reserves and know when is the right time to play offense. Think about ways to innovate your services, streamline your operations to boost efficiencies, expand your market share by improving your offerings to be ten times better than your competition, and consider mergers and acquisitions. There is No Fool-Proof Way There is no specific strategy that will make your business 100% recession-proof, but these tips will make a difference in navigating through these difficult times. In the business world, ups and downs are normal, and growth stalls are inevitable due to cyclical reasons. Thriving in a recession boils down to having exceptional industry expertise, getting better business visibility, implementing efficient processes and best practices, and having a business advisor who can provide you with expert guidance, fresh insights, and timely advice. And, more importantly, condition yourself for success. Be-Do-Have. Be the person, do the work, have the results. In life, contractors produce reasons or results, and reasons don't count. What's next for your business? Get in touch with us, and we'll help you work out a customized strategic plan for your situation. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0375, And It's About What To Do If Your Construction Business Is Operating At A Loss Operating at a loss means you’re spending more money than you’re making. And while it’s not uncommon, especially for new businesses, it’s still not an ideal situation and shouldn’t continue in the long term. Otherwise, you will eventually run out of cash reserves and be out of business. So the first thing you need to identify is why you’re operating at a loss. If it’s because you’re still in the start-up phase, then you might not need to worry too much as long as you’ve got enough cash to meet your costs. But if the losses are due to a decline in sales, then it’s time to review your construction business and, if necessary, get professional help. You’re operating at a loss if you: Don’t have enough money to pay your bills; You’re in overdraft without a plan to pay it off; You’re not selling as much as you anticipated. Do any of the above apply to you? Let’s look at ways you can remedy the situation. What you can do The first step you need to take is to work out if you’ve got any revenue coming in shortly. This could be in the form of a large account being paid, or if your business is a seasonal one, seeing your returns at the end of the season. If this is the case, then the issue you’re facing is a cash flow one. Talk to your bank or our advisors about the possibility of a short-term loan until this money comes in. Reduce costs One of the best and most effective ways of improving your cash flow so that there’s more money in your construction business is to find ways to reduce costs. All it takes is a bit of creative thinking. For instance, you could: Look at your economies of scale. Consider buying stock in bulk, as you’re often able to get good deals from suppliers this way. However, it’s also important that you’re not hanging on to a stock that’s not needed, so if you do decide to buy in bulk, make sure you’ll be able to sell it all. Buying stock right before its needed is also a cost-saving method that’s worth considering. Lower your staff costs. Consider outsourcing tasks like payroll and look at using contractors for project-related jobs. Streamline your processes. Look at ways you can use technology to make your processes and systems more efficient. There might be administrative tasks that you can ditch altogether. Reduce your overheads. See if you can cut down on energy costs or look around to see if other service providers can give you better deals than the ones you have. Do you need to be paying commercial rent on an office, when you could work from home? Can you cut down on your travel costs by using Skype for meetings instead? Increase sales Once you’ve looked at all the ways you can reduce your spending, it’s time to get more money coming into the business, and the best way to do this is to find ways to increase your sales. This will improve your cash flow, and you’ll start to see a profit, which means you’re no longer operating at a loss. Some of the best ways of increasing sales are: Learning the art of cross-selling. This means suggesting to customers that whatever they’re buying from you would be of more value if they purchased a complementary item. Increasing prices. You should always seek to raise your rates over time so that you can improve your profit margins and keep up with inflation. Be proactive on social media. Are you using it to your advantage? Effective use of social media platforms like Facebook and LinkedIn will help drive more traffic to your website, which, in turn, can increase your number of customers. It’s also important to review your debtors. Are you owed money? If so, start chasing them up. It’s no good selling to customers who aren’t paying, so you might look at ditching habitually late or non-paying clients. Short term solutions There are some things you can do to give yourself a life-line while waiting out the current drop in sales, such as: Contributing some of your savings to your business account Taking out a short-term loan or an overdraft Borrowing from friends or family Using crowdfunding to raise capital Consider seeking out investors Selling any un-used stock or assets Final thoughts In the end, turning your construction business around from operating at a loss to showing a profit comes down to common sense and not having your head in the sand. It’s important to review your business practices carefully and honestly so that you can pinpoint where you’re going wrong. Once you’ve identified why you’re operating at a loss, putting a plan in place to deal with it, and sticking to it, is the best way to turn things around.

This Podcast Is Episode Number 0374, And It's About Questions To Ask As Your Construction Business Reopens As small business owners look to operations after reopening, there are some critical business questions to ask. These questions will help you determine what adaptations you want to keep, whether your construction business model is working, if there are additional changes you want to make to keep your company operational through future economic downturns.   It's not always fun to do this sort of examination, but the answers to these questions will help you make the best possible future decisions.   1. What worked and what didn't work in my construction business model? Almost all small business owners had to make changes to their business model. Whether it was hosting meetings with clients on Zoom or learning about encryption technology to allow employees access to sensitive information from home, most small businesses adapted in some way.   Ask yourself: Did I have to adapt to my construction business model? Did I alter my goods or services in any way? Did I change how my premises are used? Did these adaptations enhance my business in some way? Do these changes highlight gaps in my business model that should be addressed? Should I make some of these adaptations permanent? Maybe you have many clients who would prefer to have meetings online rather than face-to-face. There may be perfectly good reasons to continue with a revised business model. 2. Do I need to make changes to my construction supply chain? You have some control over your supply chain, but not a lot. Disruptions happen, and they can drastically affect your business. Review how the various components in your supply chain reacted to the pandemic and whether they helped your business or hurt it. Ask yourself: Did the suppliers in my supply chain remain open and transparent with me? Did they reach out to me to discuss revising our agreement? Were they reasonable in their expectations and willing to work with me? Do I need to have alternate arrangements or back-up plans in case there are future supply chain disruptions? Your supply chain has a massive impact on your business. Trusting your suppliers and knowing you can work with them will allow you to feel secure in the future. 3. How has my construction staff adapted? Your staff has faced a great deal of stress and uncertainty during COVID-19, due to professional and personal concerns. Team members may have had to transition to new ways of working—at home, on a new schedule, or with new policies and procedures in place. Ask yourself:   Are there changes to how my staff works that I could continue to implement? Should I provide additional training for staff? Have I communicated openly with them? How adaptable was my team? One benefit of having employees work from home more days a week is that such opportunities for working remotely can boost employee morale while saving you money. Now that you've invested in the technology to allow staff to work from home, is it worth it to enable this scenario to continue, even a few days a week? Final thoughts In addition to looking at your construction business, take a look at your customers and clients. Were they supportive of your business during this time? Did they turn elsewhere? Did they respect the changes you made to your business or the policies you put in place? Each of the above questions—about your business model, your supply chain, your staff, and your clients—will help you make informed decisions about the best way to run your business as COVID-19 restrictions are lifted. Get in touch with me to chat about your construction business.  

This Podcast Is Episode Number 0373, And It's About Tax Tips For New Construction Business Owners The tax deadline is postponed to July 15, 2020. If you just started your construction business last year and haven't filed yours yet, this post would be helpful.    Your tax bill is based on reports produced by your accounting system. Want to avoid paying more than you should come tax time? Or a frantic last-minute search for missing financial records?    New construction business owners have a lot on their plate, and can quickly lose track of an approaching tax deadline or financial data needed to submit their return.   Organization is key when preparing for tax time, as is taking advantage of the many tools and resources out there to support new entrepreneurs.   Set yourself up for success by following these four pillars of painless tax prep.  Commit to clean bookkeeping from day one Year-round, effective bookkeeping is the best way new construction business owners can minimize tax season stress. With the full range of accounting software out there, there's no reason to rely on time-consuming manual methods that leave room for error. All-in-one options like Xero and QuickBooks automate your most important bookkeeping processes, including: Tracking expenses; Tracking sales and income; Creating and sending invoices and Managing inventory. With your financial records all in one place and up-to-date, you're better positioned to maximize your refund, while avoiding penalties associated with incorrect or incomplete tax returns. Capture every business expense Each year, some small business owners claim less than half of their business expenses, primarily because they don't have a reliable system for documenting expenditures while on the go. Without carefully logged receipts, contractors must forfeit valuable tax deductions, sacrificing cash they could be funneling back into their business. Cash in on claimable expenses by using a mobile app to record receipt data, track mileage, and generate expense reports. As a bonus, many of these tools sync with your all-in-one accounting software. Separate business from personal Right from day one, small business owners should divide their personal and business expenses. Differentiating between the two will make it much easier to claim deductions on your tax return – and support those claims in case of an audit.  Recommended steps to separate your business and personal finances include: Create a separate bank account for your business, and designate a credit card solely for business purposes (this will help you track expenditures while building up your credit and borrowing power); Never combine business and personal expenses (for example, if you buy printer ink for your home and your business at the same time, ask for two separate receipts); Pay yourself a set salary from your business checking account each month (this will help you determine how your income and the company will be taxed). Always consult with an accountant Not sure exactly what you can claim as a business expense? Wondering which accounting software to use or how to interpret local tax regulations? Consult with a construction accounting professional to put your mind at ease – well before the filing deadline! In addition to managing the nuts and bolts of tax preparation, regular meetings with an accountant will help you continuously improve bookkeeping practices and better understand the financial workings of your construction business. Final thoughts Putting receipts inside QuickBooks is easy! Putting them in the right account, so the reports are accurate, the business owner can trust them, and when the taxes are filed, you will pay the least amount possible - that is where the professional bookkeeper earns their money. These organizational strategies you commit to will promote positive relations with your local tax authorities – and the long-term financial health of your construction company. You work hard for your money, don't let somebody else waste it. If you're having trouble in preparing your financials, we may be able to help you. Fill out the form on the right or send me an email: [email protected].   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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0372, And It's About Sure-fire Construction Marketing Plan In Eight Easy Steps If you're serious about getting the best value you can for your marketing budget, you'll need to develop a marketing plan. Many contractors are having challenges adapting to this ever-changing economy. Trade contractors who rely on the same general contractors they did a few years ago to supply jobs to bid on are finding it more difficult to recover and find work.   It appears that history is repeating itself. Instead of yellow pages, I see many well-intentioned people with their minds and hearts in the right place with a lot of really great ideas on what works and fails in social media. I certainly don't know what works for every contractor; however, what I do know is that every construction company is unique, and what works for your competitor may not work for you.   Below we outline eight simple steps for making your marketing efforts more effective. 1. Know your customers Firstly, you need to identify your target market. You probably have an idea of who hires your services but make sure you: Define your target market in detail. Write down who your target market is. Spend time finding out about your customers' preferences and habits to help you focus your promotions more effectively. To get the best return on your investment, look at the way your message is structured, worded, and designed – and where and when you advertise. 2. Study your market Market research is an effective way to help find out about your target market. Conduct online or in-office surveys (when you can) or ask clients for feedback through email. Ask questions such as: Why do you hire our services? What could we do better? What additional products or services would you like us to offer? Your clients' responses will highlight what works well and will help you attract more customers. This feedback can also help improve the service you offer – and encourage positive word-of-mouth referrals. Show that you're listening and improving where you can, and you'll gain higher customer loyalty. 3. Identify your competitors Find out who your direct competitors are – and gather as much detailed information about them as you can. Try: Visiting their websites. Reviewing their advertising and promotions leaflets. Observing their relative strengths and weaknesses. If you want consumers to differentiate between you and your competitors, come up with a new marketing and advertising approach. Your competitors' weaknesses will present opportunities for you to market your points of difference. 4. Determine your competitive advantage Sit down with your staff, advisers, and mentors to brainstorm the best competitive advantage. Your competitive advantage can be anything that sets you apart from your competitors in your target market – such as price, service, or location. It should be something that: Makes you stand out from the crowd. Exploits a gap in the market that your competitors haven't thought about. Suits your business and the current market condition. After you've worked out your competitive advantage, use it in all your marketing. Ensure that your competitive advantage is evident in any customer communication. 5. Create a promise A promise helps clarify what the essential aspect of your construction business is to your customers. You want the client to value your promise or guarantee. For example, if you offer a product or money-back guarantee, you need to stand by these assurances. Your customers will find out if you can't stand by your promise, and they'll quickly lose trust in you and your business. You'll also run the risk that they'll warn their friends not to hire your company. 6. Make it simple to do business Ensure it's easy for your customers to interact with your business. They want to have enjoyable experiences regardless of what product or service you're selling. Exceptional service is one area that should be non-negotiable. Also, consider the following: Is your service business easy to find, and is there sufficient parking? Does someone always answer your business phone promptly? Can people get the answers and information they need? Is it easy for clients to connect with you? 7. Build a reliable brand It's vital that you develop an integrated marketing strategy that ensures all your promotions, advertisements, and marketing communications convey the same unified brand message and consistent brand values. Also, make sure you maximize the opportunity to cross-market your message. For example: Mention your website in your email signature. Market your social media presence on your website. Use your various social media platforms to cross-market content effectively. 8. Evaluate your marketing and update your plans Measure the return on investment on all your marketing efforts and update your marketing plans based on what works and what doesn't – for your business, your market conditions, and your customers. Some returns are easy to quantify, like the number of sales or the value of sales generated from an advert or promotion. Others are harder to put a value on, like the number of followers gained on social media or the number of visitors to your website. Some are a lot more difficult to measure, like customers' perceptions or increased brand awareness. Final thoughts Marketing experts will be able to advise you on the best ways to measure the hard-to-quantify parts of your marketing plan – and will help you improve your efforts for maximum results. We encourage all contractors to develop your market tracking system. Perhaps you will discover what works best for your construction company and increase your sales bottom line profits. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0371, And It's About Beyond COVID-19 - How To Build Value In Your Construction Business We've said it before, and we'll say it again – this has been a challenging few months for all of us, but there is no better time to think seriously about your business.    We all understand the economy has been tough for construction owners. I know you have made severe adjustments in your lifestyle and your businesses; however, remember this too shall pass because there is nothing new under the sun.   The key to building value in your construction business is to plan the process in a systematic way, whether you're aiming to grow your business in any economy or groom it to get a better price from a buyer. In this article, we have compiled a few tips to create value in your industry.   1. Looking through the eyes of buyers Whether you just want to build a more substantial business or looking ahead to the day when you might want to sell it, it helps to think of your business through the eyes of a buyer. Aim to: Identify any weaknesses they might see in your business and what you can do about them. Think about the strengths that may attract buyers and how you can reinforce these strengths. 2. Work on stability The longer your business has been operating, the easier it could be to sell, provided it has a solid track record. Aspire to: Keep well-documented business performance and tax records. Document business history and projects completed or customers gained. 3. Develop reliable markets A strong history is reassuring, but buyers will be more interested in the future. Make sure you: Show evidence that your main markets are growing or at least stable rather than declining. Demonstrate you've taken steps to change your market position, if necessary.  4. Nurture a stable client base A well-managed client database is one of the most valuable assets as it can be used in many ways for marketing and gaining referrals. Try to: Improve and update your client database. Start measuring customer retention rates and customer referral rates. Implement a client loyalty program and referral incentives. Buyers will want to know that key customers won't leave if you do. 5. Secure your cash flows Stable future cash flows are critical to the value of a business. Buyers will want evidence of reliable revenue streams coming into the business. Aim to: Start building more diversity and, therefore, resilience into your customer base if you're too reliant on a few major clients. Look for ways to develop more revenue streams by adding extra services or products, and lock in stable revenues through customer loyalty programs and contracts. 6. Refine marketing tactics that work Buyers will want to know what tactics have worked best for your business. Ensure you: Document your marketing strategy and your promotional tactics for the next 12 months. Demonstrate how you measure all marketing to identify the best and eliminate what isn't working. Identify what you're doing to expand your markets and distribution channels. List some still unexplored areas that could offer potentials, such as a better website or social media marketing. 7. Maintain tight financial control Excellent financial management will show up in your credit history – something you can be sure a buyer will check out. Plan to: Keep improving your money management skills through cash flow and profit forecasts and budget reports. Show you understand and monitor the key performance drivers in your business. Demonstrate that you have credit management under control and that your average debt collection time is at least as good as the industry average. 8. Develop great business systems Excellent business systems add considerable value to any business because they allow you to spend more time working on your business rather than in it. They also make the transition to new ownership much more manageable. Make sure you: Prepare your business as if you're planning to franchise it. Start building an operating manual that documents all processes in simple, easy-to-understand steps. Show how good systems enable faster training and help staff cover for absent employees. 9. Grow your brand A buyer will see significant value in an established and respected brand that differentiates your business from competitors. Aim to: Work on developing a brand that captures the essence and unique selling points of your business. Take any necessary steps to enhance or reinvent your branding. 10. Protect your intellectual property Intellectual property can add considerable value to your business, but only if it's well protected. Ensure you: Protect your logo and brand as a trademark. Consult a patent attorney or IP expert about protecting any designs, inventions, copyright material, or other IP that will add value. 11. Build strategic alliances Strategic alliances can be significant sources of growth and added value. Be sure to: Consider what additional skills and resources you lack to exploit opportunities you're missing. List and approach businesses that could help you gain work that your business couldn't usually deliver. Contact businesses that have more extensive distribution and sales channels. 12. Lock-in key employees Dedicated and experienced staff can be a crucial asset in buyers' eyes, especially if they've helped you create a valuable business. Plan to: Ensure you provide opportunities for career progression and use incentives to align pay with the value that your staff creates. Make your business an attractive place to work. Right working conditions and competitive wages will help to retain skilled staff. Look for people who can create value for your business and managers with transferable skills who can help you build growth. Final thoughts Consider consulting with a construction accountant for basic construction bookkeeping or accounting insights to understand the fundamentals of business financial management better. The knowledge you gain will feel empowering and can help clarify discussions with your accountant.    Your knowledge, combined with professional support, is the best way to create a sustainable and valuable construction business for years to come. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0370, And It's About How Cash Flow Forecasts Help Contractors Managing cash flow is a vital part of running a successful construction business. Some contractors think managing cash flow means keeping track of how much money enters and leaves their business, but there's actually more that goes into it.  [Starting Cash + Cash In - Cash Out] = Cash Flow Contractors and sub-contractors know there is more to profits than what is shown above, and most of you rely on your "gut feel" to see when the project has made a profit or not.   Cash flow forecasting is an incredibly valuable tool that helps you anticipate cash flow issues, plan for days when your cash flow is limited, and show the bank that you are prepared. It's a necessary process that you shouldn't ignore.   Here are some ways cash flow forecasts help construction business owners. They help identify cash flow issues before they happen. Most construction companies go through slow periods. Sometimes, those periods are apparent. A seasonal trade business, for example, will have decreased income during the off-season than during the on-season.   There can be less obvious peaks and valleys in your income, though you have to prepare for it.    Your cash flow forecast can help you monitor your day-to-day cash flow and anticipate when times will be slow before they hit. By predicting when the cash coming into your business might be light—or when you might have to spend more than you're accustomed to—you can avoid a cash crisis.   By examining your cash flow over the previous years and forecasting your future cash flow, you can better anticipate financial cycles and how they affect your bottom line.  They help plan for tougher times. It's tempting to spend money when you have a lot coming in. Your construction business may need new equipment, or maybe you want to give all your employees a raise or a bonus.   That's a great thing to do, but it's only helpful if it doesn't jeopardize your business financially.    Cash flow forecasting is an excellent reminder about how your bank accounts will look during tougher times, so you can make important decisions about when to spend your money and when to save it.   If you know a slow period is coming up, it might be better to save your money for now and give out smaller bonuses. If you can anticipate your slow period, you can plan major purchases and bill payments to stretch your cash further.   At least by conducting cash flow forecasts, you're less likely to be surprised by a sudden cash-flow crisis.    They show banks you can plan.   Banks prefer to give their money to entrepreneurs who show they are capable of planning. Financial institutions prefer business owners who are realistic with their financial projections and show they have a means of addressing cash flow issues.  Final thoughts Forecasting your cash flow gives you a clearer picture overall about your construction business and how the money moves into and out of it. It provides essential insight into your company's financial health.    If you haven't conducted cash flow forecasting so far, it's good to get started now, so you have a better understanding of your company's finances and prepare for the future.    Want help to improve your cash-flow? Contact us today. 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. Call 1-800-361-1770 or [email protected]      

This Podcast Is Episode Number 0369, And It's About Working Out An Effective Marketing Budget For Your Service-Based Company “How much should I spend on marketing?” Most construction business people ask me this question at some stage. Many small company owners find working out how much to spend on marketing a tricky exercise to calculate.    Generally, there are five ways to work out a marketing budget for the year. Remember that these are marketing budgets, not advertising budgets. Marketing covers everything you do in your business that creates awareness, including such activities as advertising, brochures, competitions, trade shows, demonstrations, travel, direct mail, email campaigns, your website, and sponsorship.   1, No idea at all method Some service-based businesses don’t have any budgets. They just advertise either when they feel that sales have slipped that they need an extra project, or when they get duped into advertising by some advertising salesperson (“Buy now, and we will give you 50% extra free!”). Ever wondered why they offer you the freebies? Usually, because it’s such a dumb time to advertise that all their regular clients are holding back and the sales rep is desperate.    I see many construction businesses that are just too busy during certain times of the year to think of advertising, and if they did, it would be a waste as they would not be able to handle the work anyway. Suddenly, however, sales fall (perhaps due to seasonality), and then the business starts marketing. However, this could be a waste of money as often you’re marketing at the wrong time, or advertising to get instant sales, which is unlikely to happen. So the problem is that the marketing money is spent during slow times (this hurts) and that it is allocated to fix a problem instead of creating new opportunities. 2. Whatever you can afford method Here you spend spare cash (yes, spare cash may exist!) on marketing. So the marketing is dependent on cash flow. During the good times, you market more, during the bad times you cut the marketing. The danger here is that if the construction business falls, and you cut marketing, then the situation is likely to spiral out of control. How can you climb out of the situation when there is no money for marketing? 3. The percentage of sales method This is a popular method. Typically, you work out at the start of the year what percentage of sales you want to spend on marketing. For example, if sales last year were $200,000 and you decided to spend 5% of sales on marketing, then you’d have a budget of $10,000 ($200,000 x 5%). The problem with this method is that you may not need $10,000 worth of marketing to achieve your sales target. What if you can only do so much? If $4,000 spent on marketing creates enough work for you to be flat out, then the other $6,000 is just being wasted. And what percentage should you use? 4. The 'whatever the competition is doing' method This is the cheat’s way. Find out what the competition is doing and then spend a similar amount on similar promotions. This approach has an obvious problem: what if the competition has been using method number one—the ‘no idea’ method? For example, a well-known plumber went into receivership after spending large amounts of money on radio advertising. Now, if you had copied that business, you might have found yourself down the gurgles as well.   Never think that the competition or the more substantial companies to know what they are doing, as often they do not. I know of many large construction companies that spend thousands of dollars on wasted promotions. Just watch TV adverts every night to spot the ads that represent a waste of money. Then again, copying the competition is a poor strategy. It would be best if you always strive to be one jump ahead of the opposition. 5. The objective and task method Now, this is the one I recommend. At the start of the year, select the targets you’ll be aiming at over the next 12 months. Work out what you want from each of these targets (such as 100 new clients, or each existing customer to spend another $100, or an increase in the average sale). Then specifically state what you want to do to achieve this, estimating how much it will cost (common sense will give you guidelines, for example, a small service-based business will not be spending $100,000 on TV advertising). Complete this exercise for each of your targets, then add up all the costs, and this will be your marketing budget for the year. Points to note include:  Always have a cash reserve for marketing, so you can take advantage of any opportunities that may arise during the year. Remember, not only can you not predict what may happen (for example, some action by your competitors), but the whole point of being in a small business has the flexibility to adapt to market forces. Your objectives must be specific so that when you’ve reached them, you can choose to stop any further marketing expenditure if you wish to remove any wastage. Of course, you could continue and look for more growth. The point is, you—not someone else—make that conscious decision to spend your whole budget.  Conduct a break-even analysis. For example, if you’re spending $1,000 to get 50 new customers to pay, on average, $50, then sales will be $2,500. Will $2,500 in sales generate enough profit to cover the $1,000 spent on marketing?  You may have several methods that you have used in the past, which you know work. Fine, include them in your plan.  You may have to spend a certain amount of money to keep your existing clients and maintain market share - make sure this is in your program, and you review the effectiveness of what you’ve always done. Remember to monitor results Finally, always have a method of monitoring if your marketing is working or not—otherwise, you’ll fall into the ‘no idea’ category that far too many small business owners belong to. You can’t refine and improve your marketing spend unless you measure the results 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. Call 1-800-361-1770 or [email protected]      

This Podcast Is Episode Number 0368, And It's About Build Or Rebuild Your Construction Company By Bootstrapping   Bootstrapping is figuring out how to reduce the cash you need to start or re-start your business, by eliminating any unnecessary overheads while finding out who will give you a hand.   If for whatever reason, you're not able to raise enough capital to start-up, you might be able to get what you need by 'bootstrapping' (finding what you need through unconventional or low-cost methods):   Have others lend what you need   You don't have to purchase new equipment to start your business. Think about what items you might be able to borrow over the short term or do without until the business grows.   Draw up a list of your asset needs and make a determined effort to borrow from others what you can while searching online for second-hand items that will save your business money. Are there people you know that are already in the construction business who could lend you what you need?   Call in favors Time to talk to friends, other business owners' and family to see which assets, time, or money they can help with. It's a common bootstrapping technique to save money, and chances are there is more help out there than you realize. Reduced your set up costs and overheads Look at the bare minimum you'll need for your living expenses and cut your salary or work for no pay for a time. It's quite common for business founders to put in this unpaid 'sweat' equity to start with.   Look around your home and decide what you can sell to raise the cash you need. If your business is that important to you, then sell everything you can. Look for support Search online for what's happening in the construction industry to see if there is any support in your specific trade. Tap into any family and friends that are willing to help, which could be cash or just a helping hand setting up and spreading the word you're in business. You'll be surprised who in your circle of friends will help. Harness social media You don't need a large marketing budget to build a customer base. The Internet can help you develop a strong presence for free. Whether you decide to create a presence on Facebook, Twitter, LinkedIn, or Instagram, regular interactions, and postings are the keys to gaining customer awareness. Delay payment Possibly you can negotiate with suppliers a much longer payment cycle, free trials, or several months' rent-free in a new lease agreement. Low-cost marketing Effective marketing can be creative rather than costly. Some ways you can get your brand in front of potential customers include: Email campaigns – as you begin to sell to consumers' you'll want to get them coming back for repeat services. This is where building an email contact list and sending out regular deals with calls to action can keep your business going. YouTube videos – images can speak louder than words, and video even more so. Whether you're explaining what your business does or showing how your services works, videos are a cost-effective medium for getting your messages across to your target market. Build word of mouth referrals by actively asking new customers to refer you. Don't wait for word of mouth to build over time as it tends to be too slow. Outline all the ways that you can save money by first reducing what you need and then from what you can borrow. Spend your time like a currency and do as much as you can yourself (with friends) before you start paying others. Next steps Research your local construction industry to see if there are any specific start-up grants, subsidies, or support that you may be able to tap into and talk to your financial advisers (e.g. your accountant) if you're looking to fund from the crowd to make sure you're doing the right thing.   List everything you need and brainstorm with others how you can get access without paying for it and be confident you've accumulated more goodwill than you think; if you don't ask, you won't receive. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0367, And It's About Boosting The Social Proof Of Your Construction Business Online While the world is staying six feet apart, most small businesses are staying afloat and connected online. Now is a great time to boost the social proof of your construction business virtually.   You won't build a loyal client base if you can't earn your visitors' trust, which is why companies value social proof so highly. But proving your construction business's value online takes a unique skill set, one you can nurture by learning from the marketing industry professionals.   Befriend Experts Experts love teaching others what they know. While they do make money from their knowledge, they also offer discounts to friends. If an expert loves you enough, you might even convince them to talk with you, free of charge.   Experts are people, and make friends like anyone else. Since you are looking to build social proof online, joining an expert's Internet community is the first step toward meeting them. Just remember that other people are thinking the same thing, and experts have busy lives; an entitled attitude will only sabotage potential friendships.   Personal relationships work differently online. It is easy to create dozens of friendships when you are talking to people in chat rooms and message boards. Even if an expert only spends a little time sending links and messages, thank them and treasure the wisdom they share. Create Helpful Content It is easy to feel overwhelmed when you start learning about social proof. You will find advice from different sources, and sorting through it isn't always easy. But one fact is still valid: people value great content.   Construction companies focus all their effort on increasing traffic and not building content their visitors will value. While they can boost their traffic, their gains won't last.   Instead, learn about your trade and give the people what they want; when you focus on their needs, they will naturally meet yours. Think about posting a tips and tricks video for maintaining their lawn for example, they might not be able to hire you now but they might bookmarked your page to remember you later. An engaged audience will linger longer and hire your services. Get Reviews Reviews are the most obvious form of social proof. Not only do visitors look for them to gauge a product's value, including websites, but they also value sharing their opinion. For example, a service-based business website that only showcases before and after photos will have weaker social proof than one that lets clients submit their reviews, even if no one has yet.   Reviews come in many forms. Lists count, and so do like and dislikes on media websites. While you can ask others for reviews, this will annoy some people, making it easy to find and review your site is usually a better option.   Your social proof will grow as your site gets more traffic and reviews. Consumers know how to spot fake opinions. Nail Your Bio Visitors don't trust unknown authors. While adding a name to your posts can help, they want to see a face. While a real photo showcasing your facial features works best, drawings also work for some niches.   While your bio should promote you and your expertise, too much self-promotion will advertise that you are an amateur. Finding the right balance is challenging, but you will naturally help yourself if you create an honest bio. Just like a hiring manager reading a resume, your visitors will pick up on your experience.   Your bio's placement also matters. Focus on your content and include a link to your bio along with your author credits. Studying the construction industry niche and the popular websites within it will help you decide where your bio fits best. Final thoughts Social proof is a resource, and it is every company's job to nourish and protect it. Focus on building and nurturing your construction business and personal relationships online while almost everyone is spending more time at home. There are many things beyond our control, but this is one of the things we can take advantage of right now. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0366, And It's About Construction Business Communication Strategies During A Pandemic Most small business owners face a time in their career when they have to communicate in ways or about topics they aren't confident with. COVID-19 has put construction business owners in the position of having many conversations that are uncomfortable and stressful.    Whether you're communicating with employees about company issues during the pandemic, hoping to negotiate a rent reduction to the landowner, or changes to credit terms to your banker, here are some strategies that will help you be more effective in your communications.    1. Be transparent It's vital during a crisis that you're transparent about your company's situation. You might not feel good telling your suppliers that the business has slowed considerably. Still, honesty and transparency will help them understand your situation and encourage them to work with you on a solution. The same is true of employees. Your staff needs you to be open and honest with them about where your company currently stands, how long you expect to stay open if the situation continues, and what adaptations they can make so you can stay in business. Even employees who are resistant to change will likely find ways to adjust if it's necessary to keep your business running. But it's more difficult for them to buy-in to your changes if they don't know why they're doing so. You may also not feel great telling customers about your business troubles during COVID-19, but loyal clients will want to know and will do what they can to help out, even if that means buying gift cards for your services to use at a later date.  2. Be consistent It's not enough these days to issue one email to your staff at the beginning of a crisis and hope they don't need more information from you. Things change suddenly and unexpectedly, and your employees need to hear from you regularly.  You don't have to inundate them with emails, but a couple of messages a week to let them know how business is doing and any changes to your policies or procedures will help them. Especially if your staff is now working remotely, you need to check in to make sure they're supported as they adjust to their new work life. Keep contact with your clients, too, so they know of any changes that affect them. Let them know how you can help them during the pandemic—if you still can—and ways they can help you or other small businesses.  3. Be realistic A pandemic is not the time to be overly optimistic about your capabilities. Be realistic about what you know you can commit to and don't make promises beyond that.  Don't promise your employees you will keep them employed for the duration of the pandemic unless you know for sure you have the cash flow to do so. It doesn't help your employees to think things are fine to be surprised when you can't afford the payroll suddenly. Instead, be honest and realistic about what you can do and what you likely can't.  If you're negotiating a change in your credit terms, be realistic about when and how much you can pay. If you're looking to renegotiate your rent agreement, be honest about what you can and can't afford. This will help the landowner and creditors come to a reasonable agreement with you.  Final thoughts Remember, you aren't in this situation alone. Countless other small business owners face the same scenario you do. Many institutions, customers, and employees will do what they can to help your construction business succeed, so don't be afraid to reach out and ask for help or tell them what you need.  Being transparent, consistent, and realistic with your communications will help you navigate these uncertain times.  Please don't hesitate to get in touch with us if you have a question. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0365, And It's About How To Manage Your Construction Firm's Cash Flow During Crisis Dealing with unexpected cash-flow difficulties, even if you're working hard to avoid shortfalls, is hugely distracting. A formerly reliable client might take much longer to pay than anticipated leaving you out of pocket. If you're starting a construction business, it could simply be taking longer than expected to turn a profit in these trying times.   Red light warnings Develop red light systems to warn you automatically if something needs querying: Check as early as possible if leads, orders, or sales, fall below a certain threshold, or a substantial customer ends their subscription (recurring service). Pay attention to your Key Performance Indicators. Make sure you have regular feeds of how your business is performing. You also need to know about any substantial invoices that are in dispute, particularly overdue debts and clients exceeding their credit limits. Building productive relationships with your key suppliers is important, so they are prepared to extend extra credit to you when you need it.  If you have a properly set up accounting software, then it should be relatively easy to view your red flags weekly, monthly (or any period you set). Identify the causes and take action  Below are some common causes and possible solutions of a cash crisis you may need to solve: • A significant client hasn't paid on time - Implement stricter credit control and better debt collection procedures. Contact them to ensure you have the right purchase order, and the invoice has been sent to the right person. Even check if your contact has forgotten to pass on your invoice, or they too could be undergoing hardships at the moment. • A rise in the cost of production has eroded your profit margin - Try and source less expensive materials or supplies or decide if you need to raise your price. Monitor your gross profit margin for any further profit slippage. • Your construction business overheads have blown out - Identify specific expenses that have increased and see how you can reduce them. Regularly monitoring your net profit margins to spot any out-of-proportion increases so you can take timely action. • Jobs have been slower than predicted - Review your marketing plan and sales campaigns. Alternatively, if you can't see any future improvement in immediate sales, consider other markets and targets. There may be other causes such as the failure of a major contract or you bought a large asset at the wrong time, and you now need that cash reserve for working capital. In each case, understand the cause and the action you're taking to avoid a repeat, such as diversifying your customer base or using your cash flow statements and forecasts to time purchases more appropriately. Sourcing finance If you do find yourself in a cash crisis (it's a temporary hitch, and the business is still sound), there are several funding options to consider, ranging from self-financing or bank loans to finding a business partner. The relative attractiveness of each option will depend on the size of your cash flow shortfall and how long you're likely to need the cash. Internal funds Before you look for external sources of funding, however, can you free up cash from within your business? For example: • Offer clients a discount for early payment or ask them to pay immediately.  • Offer clients to pay by credit card when usually you don't. • Ask suppliers to take back excess stock and credit or give you longer credit terms. • Sell underused assets and rent the equipment instead, as and when required. • Downgrade or sell vehicles and lease instead. • Reduce your drawings from the business until revenues improve. • Your accountant and advisers may be able to suggest other ways to release the locked-up cash in your construction company. Bank loans If you need a business loan and have a good banking track record, it could be little more than a formality to get a higher overdraft facility or access to a business loan to tide you over. If you're going to need quite a lot more money, you'll likely have to present a more detailed business plan and financial forecasts.  Invoice finance If you have cash tied up in unpaid invoicing, you might qualify for invoice finance. This facility enables you with immediate access up to 80 percent of the value of any unpaid invoices that your business might have. It helps free cash flow by releasing money from unpaid invoices as and when you need it.  Partners and investors If your business can't afford to service loan repayments out of surplus cash flow, then it may need more capital so you could consider taking on a business partner to invest in your construction business. There are advantages but also pitfalls to avoid. Get expert advice first from your accountant and your lawyer – they may know of suitable investors. Be aware that you'll need to share the ownership of your business if you go down this path. Family and friends You could ask family, friends, or business colleagues to help out with a temporary or longer-term loan. It's best to put the agreement in writing and get everyone to sign it so that both sides are clear on what has been agreed upon. Be aware that this sort of arrangement could strain personal or working relationships if things go wrong, so treat it as a last option. SBA The U.S. Small Business Administration is offering Relief Options as of this writing, due to Coronavirus (COVID-19). Let us know if you need assistance, and we will do our best to help you, whether you're a client or not. Fill out the form on the right or send me an email. Final thoughts Managing cash in a crisis is stressful for any construction business owner. Still, you do have options starting with preventative measures such as cash flow statements and forecasts and sourcing finance. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0364, And It's About Bridging Generation Gap In The Construction Industry   These days, it’s inevitable that a diverse group of older and younger workers cross paths in the construction industry. After all, the young, tech-savvy, socially conscious demographic known as Gen Y (Millennials) and Gen Z are currently the largest living generation in the U.S., navigating the workforce in record numbers. And the boomers may be retirement age, but that doesn’t mean they’re ready to stop working. Many baby boomers are choosing to enjoy “encore careers” – jobs that allow them to continue to apply their skills and experience to personally meaningful projects. Here are a few ways to help these two groups work together, so your construction business benefits from their unique and complementary skills.  Baby boomers and millennials in the construction business Millennials offer incredible potential to the businesses they work for. Young, tech-savvy, and interested in making a difference in the world; Gen Y only lacks one key trait: experience. Boomers, on the other hand, know how the business world works, and many enjoy sharing their knowledge with younger colleagues. However, unlike millennials, they may be “stuck” doing things less efficiently, simply because they don’t adapt quickly to new technologies.  With their distinctive skill sets, pairing up a young worker with an older employee can be mutually rewarding – and highly beneficial – if you know how to manage the relationship. Partners – not proteges Trust is the foundation of every good working relationship. Building trust among your younger and older workers can mean establishing a very different work dynamic than your more former employees may be used to.  To keep clear of tension, avoid creating hierarchies at work. Even in a mentor-mentee relationship, each person must see themselves as equal. That way, when someone doesn’t know something, there’s no reason to feel embarrassed. No one is the boss; everyone is there to exchange knowledge and experience. Communication is key Being digital natives, Millenials may prefer communicating with tweets, texts, and instant messages; Boomers, on the other hand, prefer a phone call, email, or face time.  Moreover, older generations may be used to a more formal approach to communicating at work, particularly with management. They may interpret a more casual communication style – common among their Gen Y peers – as a lack of respect. You can help bridge gaps in communication with weekly staff meetings. You might even consider creating a communication policy: group emails for urgent matters that affect everyone, and the communicator’s preferred form of communication for other issues.  Do you run a family business? The future of your construction company may seem like a problem for tomorrow or sometime next decade, but forward-thinking business owners know they need to plan for the future today. The steps you take now to prepare your company for the next generation will go a long way to determining how successful it remains after you retire.  It's tempting to think that things will automatically work out for the best—especially where family businesses are concerned—but that rarely happens without planning.  Here are some easy steps you can take now that will help your construction business survive after you've retired: 1. Write a formal succession plan  You might know in your head how you want the business to run when you're gone, but it certainly doesn't mean that everyone will agree with you. In fact, not having a written plan can lead to conflict and legal disputes. Put in writing how you want the business to run after you leave. Who will take your role? Will your job be divided among various family members? Will, one of your children, own the entire business, or will they all be part owners? Is everyone in the family aware of your decision? Talk to the people affected by your succession plan. Make sure they are willing and able to take a role in the business. Please don't assume that because you want your son or daughter to take over the company, they are capable of it or even want to.  By working on your succession plan early, you also have time to determine who has the skills to take over specific roles and who might need additional training.  2. Invest in professional development Many business owners assume their children know how to run the family business because they've grown up in the industry. That doesn't mean that they have all the skills necessary to run your construction business successfully.  It makes sense, then, to invest in education and professional development, not just for your family members but for young employees who could one day take over management roles in your company.  Start slowly handing over more responsibilities, so the job isn't overwhelming to them when you decide it's time for you to retire. By the time you go, the person or people taking over your role should already be very familiar with the job expectations and feel comfortable in the role.  3. Foster innovation Again, it's no secret that the younger generations have embraced technology as a way to make business more efficient. Fostering technology and innovation early in your business makes it more appealing for the next generation to stay with your business for the long term. It also shows them that you are forward-thinking and that you value their input and ideas.  Adopt new technologies and encourage your employees to be innovative. They may find ways to make your business more successful, or at least more efficient.  Final tips While you can’t necessarily influence how well any two employees work together – after all, there’s more to any working dynamic than generational tendencies – an awareness of how your staff works best and an attitude of flexibility can make a huge difference.  Find ways to support your employees as they nurture each other’s growth. When it comes to problem-solving, encourage your boomer staffers to help younger workers understand their reasons behind their decisions with examples based on their experience. Likewise, millennial staff should think about the best ways to teach their older colleagues, who are less comfortable with technology, how to use a new web tool or software. Planning for the future might not be the most fun way to spend your time, but it is vital to do so to ensure the continued success of your business. It also keeps the transitional time after you retire as smooth as possible for those who follow in your footsteps. With these tips in mind, you’ll be on your way to nurturing the skills and talents of all your workers – and creating a harmonious atmosphere for everyone. Running a family business and need some help? Get in touch.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0363, And It's About Could Your Construction Business Benefit From The Gig Economy? At some point, every business owner needs outside help to improve efficiency – or to free up their time so they can take steps toward future growth.    The trouble is, the cost of hiring regular staff, even on a part-time basis, can eat up a company's budget – especially in the early years when you're still just finding your feet.     The rise of the remote freelance worker (otherwise known as the "gig economy"), especially during this time, can offer construction business owners a simple, cost-effective solution when they need extra help with a one-off "gig" or short-term contract.   A look at the pros  For many construction company owners, the bottom line is often their most significant motivation for hiring independent contractors. It's a much less costly option than taking on an employee – and this can be especially true with international workers whose rates reflect a lower cost of living.  Another benefit of hiring remote workers who live in different time zones is increased efficiency; when you're sleeping, someone is still hard at work on your business. Think about your online presence; web developers, for instance. Outsourcing the task of developing your website to an expert, even offshore, might be a great idea. In addition to increased productivity and affordable help when you need it, greater ease when you're ready to scale is another excellent reason to consider hiring remote independent contractors.  For some construction businesses, hiring freelancers regularly keeps their operations running like a well-oiled machine. If the idea makes sense for your business, make sure you create processes to onboard new workers quickly, so you get the most value for your time and money. Instead of missing calls or letting a voice prompt answer for you, you can hire a virtual assistant whose job is to take phone calls and narrow down prospects. Consider the cons Working with remote freelancers does pose some risks construction business owners should be aware of.  Loyalty - Unlike employees who receive regular benefits on top of their salary, gig workers may not feel motivated to stick with you long term, which can be detrimental to your business. Consistency - Hiring people on a casual basis means you may have to find more than one person you can rely on to get the job done. Inconsistent help can mean inconsistent results. Reliability - Freelance workers, hired from popular sites like Upwork may be more interested in finding a large number of clients to increase their pay by volume than providing high quality work quickly and reliably for every job that comes up.  Cost - Sometimes, you "get what you pay for." Low rates can amount to low quality work, which can be both frustrating and costly for your business. In the end, every construction company owner has to decide what makes sense for their business. It may make more sense to hire a local worker at their professional rate than someone on a site like Upwork whose fees may be attractive but reflect a low end-client experience. Of course, there is much to say when you're planning to outsource your construction accounting and bookkeeping. Be aware of theft and fraud, and consider reading this guideline before hiring one. Final thoughts In the best-case scenario, hiring remote independent contractors can be a win-win situation. Skilled workers who want to set their hours and rates enjoy the freedom they desire while business owners are free to hire talent from anywhere in the world and pay what makes sense for their budget. One final thought to consider: hiring remote freelancers at low rates can have an impact on how your customers perceive your business. Every business decision you make should align with your company values and build trust in your brand–including the help you hire for your construction business. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0362, And It's About Cybersecurity Tips For Construction Business Owners   It's natural for small business owners to think that they won't be victims of cyber attacks. Most of the news surrounding hacking and data breaches involve large corporations, but that is because that's where a high number of victims are affected. Hackers may find they have an easier time going after small businesses and start-ups that aren't prepared for a security breach.    So while they might get less information from a small business, thieves will have an easier time accessing that information. If your construction company keeps any time-sensitive information on a computer network—whether that is personal information, credit card details, or other vital data—you need to ensure your cybersecurity is top-notch, so you, your business and your clients are fully protected.    Here are some tips for enhancing your cybersecurity.  1. Keep your employees informed  The unfortunate truth is that human error is one of the portholes through which hackers can attack your business. Employees are always hooked up to your network, whether that's through email, company-provided computers, or working from home. Make sure you have security protocols for accessing your network and ensure your employees are aware of them. Keep a checklist handy that your employees—and anyone who accesses your system—can reach. Regularly update your policies to reflect the new techniques cybercriminals develop.  Here are some questions to ask: Are there rules about when employees can be connected to your network or what they can do while connected? Do you have policies about password protection? Are employees allowed to take company laptops and tablets home with them? If so, what are the rules around doing so? 2. Update your network regularly Your computers, network, and system should be updated periodically. These updates provide additional protection for your company. As developers become aware of new threats, they create programs designed to prevent the latest hacker techniques and spread those through updates. Old, outdated networks are easier for hackers to access.  In addition to updating your network, take the time to regularly inspect your system for weaknesses and take steps to address those vulnerabilities.  3. Be aware of information breaches It isn't just credit card information that hackers are after. Personal details, passwords, and other sensitive data can be sold and used for fraudulent purposes. Your construction business may not collect credit card and additional payment information, but that doesn't mean you don't have documents that are valuable for hackers.  If you have any information that could be bought, used for fraud or identity theft, or used for extortion, you need to take steps to protect that information.  Once your network has been hacked, you risk losing your clients' trust. Once that trust is gone, it's hard to get it back.  4. Keep up-to-date on the latest scams and threats Monitor the media and security sites to keep yourself informed about the latest techniques being used by scammers so that you'll be better able to identify them if they approach you. For example, phone calls to your business asking your staff for information, or that there is an issue with the company computers that the caller can help fix. FEA Cybersecurity As an accounting firm, our client's privacy and security remain our top priorities and are continually looking at ways to develop and evaluate our system to prevent a breach and network holes. We utilize 128-bit Secure Socket Layer encryption, which ensures that all data passed between the web server and browsers remain private and integral. There are two levels of restrictions, and passwords must be entered before you can get your data file. At Fast Easy Accounting, Cloud Security is not an option- it is a fundamental requirement. We only use Intuit Approved Commercial Hosting Services. We have taken steps to select the best to ensure that your data is as secure as that found for online banking and financial institutions. Their Cloud Security rests on U.S. based servers, backups, data centers, and technical support. Not one aspect of our Cloud security relies on outsourced services or offshore locations. Final thoughts Don't make the mistake of assuming that just because you run a small business or don't collect payment information that your construction business is safe from hackers. There is a lot of private information available that hackers and thieves can use to make money from, and companies small and large are targets. Be aware of vulnerabilities in your system, and take steps to address them before it's too late.  Online Data Protection is critical to being able to provide you reliable and professional-grade outsourced contractors bookkeeping services. The cost of proper bookkeeping combined with secured cyber information is priceless. Having clean, up-to-date bookkeeping records, accurate financial reports, and protected data all make up for a good night's sleep. After all, security comes from setting up Structure and Systems in place, so your construction business will run smoothly. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0361, And It's About What To Do When Your Construction Company's Supply Chain Faces Disruption   Having a family-owned construction business in times of uncertainty, we spent many sleepless nights wondering how we were going to make payroll. Where would our next job come from? Would it be profitable, or would something terrible happen to cause us to go bankrupt?   If your company relies on material suppliers in various geographic locations, it's likely that at some point, your construction business will face a supply chain disruption. Whether that disturbance is caused by a virus, regulatory lockdown, international tensions, changes in local laws, or a natural disaster, there will probably be scenarios in which your suppliers or transporters face obstacles that affect your company.    Here are some steps you can take to respond to such situations and even prepare ahead of time for them.    1. Know your supply chain   An essential first step to any preventive or reactive plan is to know your supply chain. You and your team should know who and where in the world your suppliers are, where their suppliers are (if they have any), and any regional laws or international tensions that could affect your supply chain.   Knowing how long transportation of goods takes can help you anticipate when your suppliers' disruptions will affect you. For example, if you receive goods from abroad and manufacturing plants in that country have shut down, you might not be affected for a month or two. This gives you some time to review the situation and react based on your current inventory and your clients' needs.   2. Reach out to your suppliers   Find out how the delays or issues affect your suppliers and how they plan to address the case. If they don't already have a plan in place—or if there isn't anything they can do about the situation—you may need to take action on your own, such as finding new suppliers, sourcing new products, or planning new transport routes.    Reaching out to your suppliers can also help you more effectively manage any customers or clients waiting for goods from you. The more information you have, the better equipped you are to make decisions about your current status and how your construction business will operate through the disruption, or whether you need to slow down or shut down.    3. Plan ahead   Have contingency plans in place and set parameters for when the contingencies will be activated. If the disruption is likely to slow down the delivery of goods but not stop it, place urgent orders ahead of time—even a month or two in advance of when you usually would.    If there is a chance your suppliers can't get you the items you need, determine if another source can be found, albeit a temporary one.    Even if you aren't currently affected by a supply chain disruption, knowing the alternatives available to you, how quickly they can respond, and their cost provides you with a level of protection in the case of a risk to your supply chain.    Set guidelines for when you'll turn to your alternate arrangements. If you wait too long, other companies could have already reached out to your alternatives, leaving you with no options.    Final Thoughts   If possible, diversify your parties. It may cost a bit more, but you're less vulnerable to disruptions if your suppliers exist in different areas. There are many issues out of your control that can affect your supply chain. It's vital that you have a plan in place so you can respond to such scenarios and keep your business operational.    Over the years, I came to understand that the Universe has everything under control, and in the end, everything works out for the best. So if anything has not worked out for the best, it is not the end.   Get in touch with us if you have a question about your construction business. We are here to help you navigate the changes during this challenging time. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0360, And It's About 7 Ways To Improve Construction Workplace Productivity The success of any business, large or small, depends considerably on nurturing an efficient, productive workplace.  Some contractors and construction company owners believe in maximizing production by driving everyone from the laborers to the Project Managers to work harder, longer, faster, hustle, and run. And if they are giving less than 110% to the company, they are not doing enough. While improving employee productivity should always be a priority when the ultimate goal is a sustainable and profitable business, the process is easier said than done.   Below are some of the most effective methods of managing a productive, happy workplace while increasing output: Establish Accountability Productivity depends on every employee's understanding that the jobs they do come with specific responsibilities, and that their actions have consequences. Employees that lack accountability are more likely to slack off, procrastinate, or blame others for their shortcomings. Establishing accountability from the beginning results in higher-quality work output and an increased focus on informed, efficient action. Avoid Micromanagement There is no denying that management is crucial, but too much of a good thing can have adverse effects on productivity. Excessive micromanaging creates employees that feel as if they are not trusted and that their decision-making processes are not valued. Instead of encouraging employees to put forth their best efforts, micromanaging results in an eventual dependence that can sink productivity levels. Recognize Success Just as employees must be held accountable for their actions, they should also be recognized for their success. Even small efforts, such as verbal recognition or occasional awards, can encourage employees and make them feel like their hard work is being rewarded. For businesses that can afford it, more substantial rewards, such as holiday parties, improve morale, and create camaraderie in the office, all of which lead to happier, more productive employees.   Break Out Of Ruts While it is generally advisable to assign tasks based on an employee's particular competencies, keep in mind that doing the same tasks repeatedly over an extended period can make even a skilled employee feel as if their work has become monotonous. If possible, it may be useful to expose employees to other tasks and also other departments. This renews motivation, offers new skills to learn and apply, and grants the employee a broader understanding of how the company operates. Cut Down On Meetings Often meetings serve as nothing more than temporary breaks from productive work. If a session does not have a specific purpose, an organized agenda, and a plan of action, it will probably only function to diminish productivity. Meetings can be a great way to share ideas and establish goals, but don't let them get in the way of delivering actual results. Embrace Technology While many workplaces still see new technology as unnecessary or even distracting, the simple truth is that they can have a significant positive impact on productivity. Updated hardware, software, and machinery ensure that work can be performed in less time and with minimal error. While it may not seem like a big deal, even minor issues such as temporary connectivity problems or hardware breakdowns can quickly add up through the course of a fiscal year. Think Outside The Box Studies have revealed several productivity-boosting techniques that may seem counter-intuitive at first glance. While social media has been criticized in workplace settings, data shows that allowing occasional breaks to access such sites can boost workplace productivity by nearly 10%. Likewise, allowing employees to listen to music while working - when it doesn't interfere with the job, of course - can also improve efficiency. Providing such perks can pay off tremendously if it means happier, more motivated employees. Final thoughts Balancing the needs of a business is never an easy job, but a focus on increased productivity can have a positive impact on nearly every other facet of the workplace. By using the techniques above, it is possible to eliminate unnecessary pitfalls and ensure that employees are personally invested in efficient, quality work output. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0359, And It's About How A Business Dashboard Can Help You Drive Your Construction Company Business dashboards are a valuable business intelligence tool, offering an "at-a-glance" big picture view of a company's performance.   Some construction business owners use a dashboard to track KPIs (Key Performance Indicators) relevant to just one aspect of their business, such as sales growth, marketing, or financial data. Others rely on an executive dashboard for an overview of data culled from various sources (e.g., their accounting software, CRM tools, and website analytics).   The great advantage of a dashboard is that it presents and compares complex data drawn from several sources using visual tools (i.e., tables, line graphs, and bar graphs). With access to this consolidated data – information that would take hours to compile and analyze on your own – business owners are empowered to make more informed real-time business decisions.   Here are a few more reasons to consider investing in a construction business dashboard: Discover weak spots When a business is performing well overall, problem areas can easily remain hidden. By reporting both historical and real-time data, your business dashboard can alert you to a sudden drop in performance. As a result, you can reign in a problem before it can snowball, potentially avoiding disastrous results for a department or your entire organization. Save time and money A well-designed dashboard can reduce hours spent searching for data from multiple sources. Ease of data access, focusing on just one screen, means you may monitor your numbers more regularly. And with accurate, up to date information at your fingertips, you'll make better decisions that can help you cut costs and improve your bottom line. Improve sales performance  Gain valuable insight into key sales metrics, including the length of your sales cycle, your customer acquisition process, and client behavior—like which group of customers spend the most and buy the most often. By setting your dashboard to monitor these numbers, and flag any fluctuations, you'll be empowered to take meaningful action to win more sales and maximize profits.  Understand the big picture There are so many moving parts to operating a business, and often so much data available, it's exceptionally challenging to make sense of what the numbers are telling you. A business dashboard can be customized to focus on critical metrics you define, illustrating how they relate to the big picture, so you always have an accurate snapshot of your construction business. Choosing the right dashboard There are two main types of business dashboards. Analytical business dashboards are designed to provide historical and real-time data to executives and senior leaders to help improve company performance and set goals to achieve more significant growth.  Operational dashboards, on the other hand, focus on the concerns of department managers and workers. These dashboards can help companies identify issues that, left untended, can become problems; employee performance metrics, for instance, can lead to better service and more efficient management of day-to-day operations. Final thoughts There are many benefits to working with a construction business dashboard, but the main advantage is that they can help you make more informed decisions that will have a positive impact on your construction company's agility and competitiveness – and ultimately, your bottom line. Our client's QuickBooks dashboard contains the KPIs: It Works Best When You Think Of Them Like The Dashboard On Your Truck Using a dashboard can help you spot problem areas and negative trends quickly, so you can take steps to correct them. You'll know what to do more to increase sales and profits, and implement the best strategies to achieve your business goals. If you haven't updated your construction business plan recently, take some time to identify your high priority objectives. Then you can take the next step and find a dashboard that offers you the business intelligence you need to meet your current and longer-term goals. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0358, And It's About Tips For Getting Your Construction Business Through Tough Times If you're a small business owner whose construction company hasn't gone through hard times, that's great, but it's likely to happen at some point. As much as we dream about being brilliant enough in this industry that we'll never face slow times, there are many things beyond our control that can negatively affect our organization.   Here are six tips for getting your business through difficult periods so you can look forward to many more years of construction business ownership:   1. Take care of your employees   Workdays lost to sickness are a considerable cost to the company and a threat to productivity. Regardless of health threats and virus spread, the workplace itself is a source of infection, and you can reduce the risk of causing absence in your employees by implementing control measures to ensure the environment is clean and safe.   Introduce a culture that dictates employees take responsibility for their cleanliness at work; provide hand sanitizer to encourage hand washing. If employees share desks, they need to understand the impact on their colleagues of not cleaning equipment after use. Show that the business is committed to a healthy workplace by carrying out regular deep cleaning of carpets and any areas likely to be a high infection risk. 2. Minimize stress Any number of factors can contribute to stress in the workplace. The most common are workload, environmental conditions, and personal circumstances outside work. Managers should have regular one to one meetings with all workers and be trained to understand the symptoms of stress and early warning signs that someone may be suffering. Another way to monitor stress levels in your business is to undertake an employee survey. It is a worthwhile investment for any business to provide support mechanisms for employees experiencing stress, even if not caused directly by the workplace. An independent employee assistance scheme can advise on a wide range of issues, such as financial matters or personal relationships. Absence due to stress can be long-term and recurring, so it is always preferable to deal with underlying causes, rather than be left dealing with the symptoms when it's too late to prevent them. 3. Focus on your existing clients When construction companies go through tough times, many owners turn their focus to bringing in new business. The downside is that existing clients are often forgotten, but those are the most efficient people to make sales to. You don't need to stop marketing yourself to new customers, but make sure you give extra focus to the clients you already have, to ensure they remain loyal. Find out what their current needs are, how successful you are at meeting them, and what you can do to maintain an ongoing relationship. Communicate with them and always provide exceptional customer service.  4. Reach out to others Chances are, you aren't the first person in your trade to experience tough times. Talk to other people who have been in similar situations to learn how they navigated those challenges. Ask them what did and didn't work for them, and what they learned from the experience. Some—if not all—of their answers could apply to your business, or could at least inspire a solution.  5. Examine your marketing plan Your marketing plan brings in new clients. Now is the time to consider fresh marketing ideas to bring in new revenue. Is there an area of your construction business you haven't promoted before but could bring in clients? Is there a new way to market yourself you haven't tried?  Examine previous marketing efforts to determine how successful they were. If they weren't successful, stop wasting your valuable time and money on them. Use your efforts on something new.   6. Improve your cash flow Analyze your construction company's financial health to see if there are ways to improve cash flow. Can you charge clients a deposit or encourage payment upfront to increase cash flow? Are there products you sell or services you provide that bring in revenue more quickly than others? Are there ways to save money that won't hurt your business in the long run?  It can be tempting to eliminate staff, but when things are good, you'll need to hire employees again. Doing so costs time and money. See if you can find small ways to save money that won't negatively affect your construction business when it starts booming. Cutting over time, for example, can save you money without losing staff.  Make sure you can account for every dollar your business spends. Don't hide from creditors, communicate with them to find out if you can restructure your debt or extend your terms. Free up as much money as you can without setting yourself up for failure when things turn around. Final thoughts Chances are your construction business will go through tough times at least once. It's crucial you take action to help get you through it, rather than crossing your fingers and hoping the difficulties pass. Look after your employees and they will look after you. The steps you take during these challenging periods will help you, but they can also help set you up for increased success in later years. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0357, And It's About Annual Tax Return Pointers For Construction Contractors Preparing for tax season is a year-round endeavor. Well-organized small businesses are better positioned to minimize their tax bill while avoiding penalties associated with missing or inaccurate information.   Tip number one for construction company owners is to update financials every month, using a streamlined software or cloud-based system. This way, come tax time, everything you need is all in one place.    Second - The Profit And Loss Balance Sheet is what Tax Accountants use.   The numbers on these reports offer a summary snapshot of your business. They are referred to and reviewed over and over by banks and others.   Below is a copy of the "Schedule C” it is the standardized format from the Internal Revenue Service.  Besides the bottom number, what does it tell you? I suspect minimal information. Why? Because the Internal Revenue Service has rules/regulations/restrictions about their forms and as much as they want to cram in more detail. How many pages? What font size? The form becomes the "Bigger Bucket" theory. The "Bigger Bucket Theory" is where data input installs as many transactions as possible into a single line. For example, income can be all of the deposits from bank statements, which may have come from a single z-tape each day. Or Utilities, Office supplies, Marketing, Cost of Goods Sold (COGS) are classified as "Expenses." As the business owner, you may want to know more specific information about your costs and your income to make intelligent decisions. The annual business tax return doesn't need to know which client is profitable – it's all income, it doesn't need to know the details about Costs of Goods Sold – it's all material (or just an expense). It is not relevant to the tax accountant. Remember, it's the "Big Bucket" theory. Of course – most tax returns have gotten longer and longer saying the same thing over and over again. If your construction company files annual tax return as Sub-Chapter S, you know that most of the numbers transfer over to your personal return, and the numbers repeat again.  We have all heard "Garbage In" and "Garbage Out." It is becoming more common to do the bookkeeping "fast"; after all, it should only take about 10 minutes a day. One shortcut is downloading transactions directly from the bank. Tax Accountants Typically set up QuickBooks Chart of Accounts to map directly into their tax software, which makes it easy to download from the bank "Big Bucket" theory again. What is the purpose of your accounting system? To help you run your business more efficiently or file your taxes? Neither choice is good or bad as long as you have made a choice and understand the outcome.  Like most people, I go to my bank website often, and one of the things I have discovered is that all banks appear to treat each transaction uniquely. How do you get money out of your checking account?  Do you write a paper check that is manually presented to the bank? Do you write a paper check that is electronically presented to the bank? Do you use your bank's online bill pay that mails out a paper check you can present to the bank? Does your bank's online bill pay – use EFT to transfer your funds to the vendor?  Do you pay online using another bill pay service? Do you pay online by going directly to your vendor's website? Do you pay online using pay pal bank? From the bank's transaction report, it looks straightforward. When the actual bank statement comes, the transactions can look differently. Bank breaks transactions into Checks / Debit / ACH / EFT – Vendors may have a different name on the account that accepts each of these types of transactions.  Downloading transactions from your bank can be an excellent time-saver if all goes well. I have heard stories of tax accountants without permission from their clients (they know everything they need to know to file your taxes), downloading a whole bunch of transactions into QuickBooks without correctly mapping them.  Construction companies have very complex Work In Progress (WIP), Job Costing and Job Profitability Reporting, and Other QuickBooks Reporting needs, which means some transactions must be coded to Items and some to Accounts for the reports to be accurate. When in doubt, many times, the Bad Bookkeeper or whoever is doing the bookkeeping will send the transaction to the owner's draw, personal expenses, or some other wrong place. This is because too often, the business owner sees all accounting costs as "Overhead and a Waste Of Money," and they want the "Cheapest Option Possible," and the "tax accountant is the only one who needs the information anyway" so why not let them do it.  We know several Tax Accountants that are a real pleasure to work with because they do not try to do bookkeeping in the off-season of tax preparation. They like clean and tidy QuickBooks - with reports and balances that make it is easy for them to review the Profit and Loss (P&L) and Balance Sheet, consider their client's entire financial picture, make decisions as needed and complete the annual tax return. And yes, a good tax accountant takes more than 15 minutes to complete their client's business return.  We recommend a Tax Accountant to complete your annual tax return for several reasons: They are a fresh set of eyes reviewing your QuickBooks and your business as a whole. They are an important part of your Board of Advisors. It makes it easier to get bank loans because the bank knows you have more than one person in your accounting. We have used Tax Accountants for our business and personal annual returns for over thirty years. Here are three more ways to take the stress out of tax time and get the most out of your return: Know your credits and deductions Small businesses typically benefit from a wide range of tax credits. From special allowances for research and development to programs that supplement wages for student employees and apprentices, knowing which credits apply to your business can save you a bundle on taxes.  It's also essential for SMBs to be savvy about deductions. After all, you want to keep as much of your hard-earned revenue as possible. Often-overlooked items you may be able to deduct include: Seminars, classes or conventions you attended to improve your professional skills; Unused inventory that you've donated to charity (a good reason to consider donating your overstock, rather than paying for storage); and Capital assets, such as office furniture, computers, and equipment. Speak to your accountant about the full range of available deductions you can plan for each tax year. Be careful about what you claim If you run your business out of your home, you may be able to claim a portion of expenditures like utilities, insurance, property tax, and rent. But you'll need to keep good records, and all your receipts, to justify why you've allocated business costs to your home office. The same goes for home office computers and mobile phone expenses. Tax authorities will want to see how you've separated the personal and professional use of these assets when you claim them as work expenses.  Want to claim drive-time as a work expense? Ensure you submit a log of your business-related mileage, so you can demonstrate how your vehicle was used for professional purposes. Don't miss the deadline This should go without saying, but every year construction business owners are hit with severe penalties for filing taxes late. Missing the deadline can have a range of negative repercussions, including: Added interest to amounts owing, plus a late payment penalty; Losing your claim to a refund; Loss of credits toward retirement or disability benefits; and Delay of loan approvals (lenders require a copy of your filed tax return to process your application). Final thoughts Always seek a professional's advice. Current technology has made it easier than ever for small business owners to file for themselves, but when it comes to thoroughness and accuracy, nothing can replace the expert advice of an accountant. Consult a professional well in advance, to ensure you're getting the most out of your tax return, and that your documentation is complete. On the bright side, accounting fees are often tax-deductible! P.S. With networking and building connections in mind, we are excited and honored that Randal is nominated for the 2020 Small Business Person Of The Year award in our city. If you are on Alignable, I would appreciate it if you can connect with us and "like" our recommendation. Screenshot of Alignable nomination 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0356, And It's About Contractor Networking - How To Connect With Local Business Owners Making a few good local business connections can go a long way in helping your construction business grow. Networking can spark mutually beneficial partnerships, lead to new opportunities, and attract more clients through word of mouth.   In the age of social media, small business owners may think networking isn't as valuable as it used to be. On the contrary, it's just as crucial for people to get to know your face out and about in the community as it ever was. And fellow business owners are much more likely to refer you once you've met in person or have worked with you in the past.   We have previously put together an article about Networking For Construction Contractors within the industry. This time, our focus is on connecting with local business owners. Here's how to start networking more effectively with business owners in your neighborhood. Pay it forward One of the simplest ways to connect (without feeling like you're networking) is to get involved in projects that benefit your local community. Consider these opportunities to work with community leaders and business people for a good cause –while spreading positive word of mouth about your business. Host a community fundraiser Volunteer for a local hospital, shelter, or school Serve on a non-profit board or offer pro-bono services Doing good work in your community will help you get to know other small business owners you can refer your customers to, and who may return the favor. Join local business groups Getting involved with your local Chamber of Commerce, Rotary Club, industry associations, or a regional meet up group is a great way to increase your visibility.  As an active member, you'll quickly get to know a host of other small business owners to bounce ideas off of, partner up with on going projects, and support each other's professional growth.  Here are a few ideas for expanding your list of local business contacts: Run an ad and offer a member discount in your association's newsletter Participate in networking events organized by and for members of your business community Host a workshop that helps members increase profits or improve an aspect of their business or personal life (Example: Home Renovation Tips) The True Value Of Networking Keep in mind that not every group is right for every kind of business. There are all kinds of groups dedicated to networking. Some are highly structured with performance requirements, exclusive membership, and the payment of dues. Others are free form, come as you please, and no charge. You will find that some groups may not have connections in the market you are seeking to attract. You will find some groups have rules that just don't fit with how your business works. Yet there is one factor that is often overlooked when considering a networking group; does this group offer more long-term value or short-term value? When you focus on short term value, you see each member of the group only as a prospect. This limits the business potential of the group because you can't reach beyond the people who are present in the room. The long-term value of networking groups lies in building strong, trusting relationships that will give you influence beyond the people in your immediate group. Discover needs If you are like most people, you are already pretty clear about what you need. What you may not be so sure about is what your business connections need. Do you know anyone who is a good prospect for them? Can you recommend or offer services that will help them? Find out what your contacts need and act to fulfill those needs. Be generous Stop looking at every person in your networking group as a potential sale. Especially early on, be more concerned about what you can give than what you can get from these meetings. Give materially by sponsoring group events. Give of your time and effort by contributing time in a service position or be free with great ideas and a welcoming smile. Especially give liberally by helping others make valuable connections. If you can help one of your fellow group members by making an introduction, do it. If you are generous, the effort will come back to you. Build trust People seek out people they can trust. Cultivating trust takes time and effort, but is worth it. When it comes to business, trust is based on three factors: Value – do you consistently bring value to the relationship? Dependability – are you the real deal? Can you be depended upon? Consistency – are you consistent over time? If you are an occasional participant, or just passing through, it is harder to develop trust. Actionable Networking Tips Here are a few proven ways to make better business connections at your next community event: Do a bit of background research on the people you'd like to connect with. When you meet in person, you'll be able to break the ice more efficiently with a question or two prepared in advance. Follow up immediately after meeting someone. Stay connected to your shared social networks. Email a useful article from time to time to build goodwill and stay in touch. Use social media to stay abreast of what's happening in your area, chat with local businesses, make referrals, and target new customers. Be helpful. Networking isn't about what a new connection can do for you. Ask how you can help your fellow business owners. Be supportive. Share ideas and information.  Final thoughts Networking with local business owners can do much more for your business that helps you gain exposure in your community. Networking groups provide you with valuable business allies who can open doors and remove obstacles. Cultivate relationships instead of just asking for sales appointments. Strong relationships build strong businesses; over the long-term, this is the most valuable approach to networking.  Running a small construction business can be a lonely venture at times – primarily if you work with remote staff or you're operating on your own. Connecting with other businesses in your area can certainly boost your business. It can also lead to close friendships, as well as mentorship opportunities you'd never come across any other way. P.S. With networking and building connections in mind, we are excited and honored that Randal is nominated for the 2020 Small Business Person Of The Year award in our city. If you are on Alignable, I would appreciate it if you can connect with us and "like" our recommendation. Screenshot of Alignable nomination 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0355, And It's About Bookkeeper, Accountant, And CPA For Contractors - Understanding Roles The tax season is here. This is when most construction company owners think about getting their construction bookkeeping system in order, so they can file their annual tax return for the previous year.   Keep in mind that each branch of accounting serves a different function similar to how it works in construction. There are framers, rough carpenters, and finish carpenters, and all three works with lumber, yet in most cases, the skill sets to do everything are rarely found in the same person.   If you're like many construction business owners, you may not be exactly sure of the differences between a construction bookkeeper, a construction accountant, and a Certified Public Accountant (CPA)  - and whether you should hire one, or all.   An established, growth-focused construction company will employ the services of both an accountant and bookkeeper. The two professionals work in tandem to ensure business financials are up to date and accurate, and the financial health of the company is carefully monitored.   If you're still in the early days of your business, you might choose to do the bookkeeping yourself, or hire a bookkeeper for a couple of hours a month until it makes sense to bring someone on full time. An accountant, however, should be a key player on your team from day one.   Three Skill Sets = Three Types Of People   Bookkeeper   The primary role of a bookkeeper is to handle a company's day to day financial management. A bookkeeper will take care of the small but essential details that are essential for providing an accurate picture of where a business stands at any given moment.   In addition to a bookkeeper's main job – making sure every financial transaction is accurately recorded in the general ledger – they may also lend a hand with other critical tasks like invoicing, paying suppliers and vendors, and processing payroll.   Ideally, a construction company's books are updated at the end of each business day, so you always have an accurate account of your sales, expenses, and the bottom line. If your business is still in its early stages, however - without much financial activity or the funds to hire a bookkeeper – you should aim to reconcile your accounts at least once a week.   Accountant   An accountant's primary role is to help companies make sense of their numbers for strategic planning - analyzing, summarizing, interpreting, and reporting on financial data to provide "big picture" business advice.   As a construction business owner, you'll want to work with an accountant from very early days to help with budgeting, forecasting, and decision making – as well as for strategic tax advice and identifying opportunities to reduce costs and maximize profitability.    Many business owners think they only need to talk to their accountant once a year at tax time. But to be able to gauge the health of your business - and make the most of your accountant's expertise - it's recommended you check in at least once a month.   Your monthly meeting is a chance to review key reports, like your profit and loss statement, discuss opportunities or areas of concern, and get timely advice to help meet the goals you've set out in your annual business plan.   Certified Public Accountant   The CPA's primary function is to prepare the annual tax return, perform audits, and prepare Certified Financial Statements for bank loans when a construction contractor requires them before issuing a construction bond. Keep in mind that most Certified Public Accountant accounting specialists can do all of the accounting for most standard businesses who only need regular accounting but not construction accounting. Construction company owners who think it's costly to hire a construction accountant and would instead only seek a CPA's help might be in for more business damage in the long run.   Final thoughts   As your construction business grows, it's essential to have trusted financial professionals managing your books and providing strategic financial advice.    After all, the busier you get, the more complex financial management becomes - and the less time you'll have to maintain your books and try to make sense of all the data.    A trustworthy bookkeeper's services are essential for a thriving business, and hiring an accountant that specializes in the construction industry can do so much more than handle your taxes. Think of your accountant as a trusted business partner - someone whose services you rely on year-round for advice on how to increase profitability as you take steps to achieve your business goals.  P.S. We are excited and honored that Randal is nominated for the 2020 Small Business Person Of The Year award in our city. If you are on Alignable, I would appreciate it if you can connect with us and "like" our recommendation. Screenshot of Alignable nomination 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0354, And It's About Why Your Construction Business Needs You To Say No Being open to new possibilities is a positive trait shared by most construction company owners —but saying yes to all the people you meet and opportunities that come your way can get you into trouble.   When we over-commit—especially when we take on projects that don't benefit our business—our stress can hit the roof. It's much hard to be productive when we're feeling burned out and resentful.   One of the most impactful changes you can make in your construction business is to form one simple habit: give yourself time to weigh the cost and benefit before making any decision, and politely decline any opportunity that doesn't align with your goals.   If you're feeling stressed and less productive than you'd like, it's time to get better at saying no. Here's how: First, check your business plan. Your business plan is more than a record of the year's goals and projections. It's a living document designed to help you guide your business in the direction you want it to go.  Although some decisions may seem small—an invitation to coffee, a request for advice—all of those "asks" add up. To stay focused on the success of your business, you always need to keep your short and long term goals in mind.  If you don't have a business plan, Randal put together a Construction Business Plan that generally follows this outline: #1 Executive Summary - Reputation In construction, reputation is vital because construction is a perishable commodity that does not age well, and delays cost much money. So construction firms establish and protect their reputations very carefully based in part on having the resources and expertise to complete the work on time and on budget. #2 Mission Statement - What Type Of Construction Are You Good At? What type of construction are you focusing on? New, remodel, service and repair? #3 Competitive Analyses - What You Do Better Than Any Contractor Within Twenty Five Miles? Every contractor has a different mix of resources and expertise, which means some aspects of construction are fast and easy for them, and that is their Unique Selling Proposition (USP) where they should concentrate all their energies. #4 Marketing Strategy - Who Are Your Most Profitable Clients Using The 80/20 Rule? 20% of your customers usually generate 80% of your net profit.  20% of the goods or services you sell contribute to 80% of your revenue 20% or 2 out of 10 of your staff create 80% of the value for your customers. Every construction company knows who their best clients are and who the worst ones are. The key is to make a list to identify each group #5 Executive And Field Staff Qualifications - Journeymen vs. Cheap Labor The journeyman costs more per hour but produces more and better results at a lower cost over the long haul than a group of cheap laborers. This is easily documented in a well set up QuickBooks file. #6 Financial Information - Profit & Loss and Balance Sheet Contractors typically run their business with a daily print out from the online account at their bank. Some use software, and most that we come in contact with use QuickBooks. Creating a business plan can help you get clear on where you want to take your business—and how you'll get there. Now you're ready to make a thoughtful decision. If someone's request does not help your business, your decision is easy. If you may want to work with the person in the future, or there's something you can ask in return that will benefit your company, a definite maybe is in order.  Before you say yes, ask yourself the following questions: · How does agreeing to this benefit my business? How significant is that benefit at this time or in the future? · Do I have the capacity to carry out this request at this time? How might other aspects of my business suffer if I prioritize this request? · What does my gut say? Will I feel burdened, owed a favor, or for any other reason resent saying yes to this request? Scripts for saying no  If you've weighed the decision and need to turn someone down, these simple phrases can help you to say no gracefully. · Thank you for thinking of me, but I can't take on another project right now. · I'd like to help you, but I have other commitments. · A healthy balance at work and home is my priority at the moment. I know this is a small request, but I can't be of service right now. · I'm sorry I can't do what you've asked, but I can do this for you if it helps. · I'm unable to help you now, but perhaps another time. Notice that specific reasons given for declining a request aren't offered. You don't need to provide a list of excuses for saying no, which can sound unconvincing. Unfortunately, when offered reasons for refusing a request, some people will add pressure by trying to challenge them. In conclusion When you become skilled at saying no, you'll not only avoid additional stress; you'll have more time to spend doing meaningful work you enjoy, building a business you love.  One final thing: if the thought of saying no still fills you with dread, don't think of it as saying no. Think of it as saying an enthusiastic yes—to you and the success of your construction business. P.S. We are excited and honored that Randal is nominated for the 2020 Small Business Person Of The Year award in our city. If you are on Alignable, I would appreciate it if you can connect with us and "like" our recommendation. Screenshot of Alignable nomination 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0353, And It's About Six Effective Ways To Save Money As A Construction Business Owner   We are always looking for ways construction contractors like you save time and money. These tips will help you make a noticeable difference to your bottom line.   Reduce staff costs   Without a doubt, having someone to help deal with routine tasks can significantly improve productivity. The rub is that hired help is often too expensive for small business owners.   Internships can be a real win-win: a student gets hands-on experience assisting you with marketing, accounting, or administrative work, and you get time-saving help for free.     Think thin Small business owners are often advised to trim down their offerings to a niche market. You can save money by applying that same thinking to how you do it in your construction business.   For instance, subcontracting can allow a service-based business owner to keep a narrow focus on the work they do while attracting more customers. Taking on more work and paying someone to do it at a lower rate than you charge your clients will increase capacity and your bottom line – while maintaining your focus on what you do best. Network more Forget expensive print ads and direct mail campaigns. You can save a ton of money getting the word out about your business by connecting directly with your target market: Co-host an event with a business owner whose customers will be interested in what you do.  Connect with your local Chamber of Commerce.  Attend business networking referral events.  Run a contest on social media.  Sponsor a community fundraiser. Networking at trade shows and industry events is another excellent way to meet potential partners and customers, without breaking the bank on costly advertising fees. Embrace "co-opetition" Often construction businesses buy in bulk to save money. Unfortunately, purchasing in volume can backfire if you're struggling to maintain positive cash flow, and the cheap supplies you bought never get used.   A better strategy is only to buy what you need and to share costs with other small business owners. Co-opetition is becoming a buzzword for a good reason. Forming alliances with businesses can lead to lucrative partnerships while collectively saving everyone some cash. Save time with technology If you haven't yet leaped, adopt cloud-based software to improve operational efficiency. Try free collaboration tools like Google Drive – also a great way to cut down on the cost of paper. Use virtual meeting technology to save a small fortune on travel costs when connecting with vendors in different time zones. And do a free trial of accounting software to see how automating routine tasks like invoicing, and payroll can improve accuracy and free up hours from your schedule.  Hire an accountant Many construction business owners think they're saving money by handling their financials themselves. While it's a real asset to learn bookkeeping basics, cash flow management, and your tax obligations, hiring an accountant to oversee your finances has many benefits.  Leaving your books to a pro will free up time so you can focus on serving your clients and implementing plans for growth. Here are a few ways an accounting professional can help you save money that you can reinvest back in your business. 1. Finding money There's no one more suited to discovering "found" money than an accounting professional. Hire an accountant to sort your books and systemize your bookkeeping; better record keeping is the easiest way to allow you to quickly see – on a monthly, weekly, or daily basis – where your money is going so you can cut costs. Keeping your accounts up to date will also help you understand which of your business investments yield the highest returns so you can be more strategic about spending.  An accountant can spot trends that you can take advantage of to earn greater profits – and even find savings with vendors, staff, and operating expenses. Hiring someone to manage your accounts will also reduce the costly errors that are commonplace when business owners try to track their expenses manually.  2. Avoiding tax penalties  Your accountant may be your trusted advisor when it comes to staying up to date with the latest regulations for small business taxes. They can also provide you with expert advice on how to maximize your benefits and minimize your taxes each year. Please don't underestimate the cost savings of hiring someone to complete your tax forms correctly and submit them on time. Penalties for small businesses who neglect to file their taxes on time – or at all – can quickly add up; the longer you wait to file, the more interest you'll be charged and the likelihood you'll incur additional penalties. A business that is already struggling may not be able to pay a tax fine and find themselves closing their doors. If your construction business is ever audited, having an accountant on board will let you rest easy, knowing you won't be hit with a penalty for errors or omissions.  3. Business advisory services Your accountant possesses business knowledge that can help you make more informed decisions. Rely on your accountant for advice when you draft or revise your business plan; those key insights on assessing profitability will help you move your business in the right direction – and avoid wasting time and money on strategies with a lesser chance of success.  Look to your accountant to help you determine your most valuable clients, how much money you need to invest in a growth plan, and which marketing strategies yield the best ROI. Having someone you can rely on to guide you on setting targets and monitor your progress is an invaluable asset that can help you not only save money but earn higher profits. The bottom line? Your accountant can do much more for you than simple bookkeeping or ensuring you're on the right side of the tax authorities. Hire a construction business accountant, and you'll be doing a lot to help increase your chances for long term growth and success. Final tips Review your construction business expenses regularly to track rising costs and to find more ways to reduce unnecessary spending. Always pay vendors and lenders on time to dodge late fees, interest, and a poor credit rating. Shop around for the best deals on everything from software and financial services to office supplies and inventory. What will you do differently to start cutting costs for your construction company today? We can help a little or a lot depending on your business needs. Please fill out the form on the right, send me an email, or call me at 1-800-361-1770 to schedule your free one-hour consultation. P.S. We are excited and honored that Randal is nominated as the 2020 Small Business Person Of The Year in our city. If you are on Alignable, I would appreciate it if you can connect with us and "like" our recommendation. Screenshot of Alignable nomination 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0352, And It's About A Construction Contractor's Optimal Guide To Profiling Clients   Easily an essential first step in establishing your construction company is to define your clients so that you have the information you need to attract the right audience and generate valuable traffic to your website.   Understanding your customers and what makes them tick is the key to any successful construction business, particularly if you are paying out large amounts of money to drive relevant traffic.   One of the most practical ways of defining your prospects is by building client profiles that represent the typical types of customers that you are aiming for. As a result, you'll be able to home in on a more specific target audience, communicate with your audience in a more relevant and personalized manner, and, ultimately, generate more revenue.   Every business caters to a specific demographic, and while some audiences might be vast, it is still essential from a marketing perspective that you know your clients and how to reach out to them. You'll need to understand your product or service, seek out feedback, learn about your customers' habits and interests, and maintain a consistent and targeted marketing campaign. Knowing Your Brand There's no shortage of novice construction companies out there who are attracted by the empty promises of making a quick profit by providing a service that is in high demand during a particular season, even if they aren't at all familiar with the execution. The reality of a successful construction business is quite a different thing; however, you need to be thoroughly familiar with what you are trying to work on (whether you are installing, repairing, or renovating), and you need to believe in it. Whether you're a lone contractor or you're planning to start a small construction business with multiple employees or partners, you'll need to define your mission and come to understand your products and services fully. You cannot hope to accurately profile your clients if you do not have the utmost familiarity with what you are trying to sell to them. You'll need to pay attention to every detail before putting yourself in the shoes of your customers. When you know your brand, and it has a clearly defined mission, you'll be ready to start profiling your customers and tweaking your approach to marketing as necessary. Seek Feedback Seeking feedback is a critical ongoing process, but you should also start by doing plenty of research before you can even hope to get your marketing strategy off the ground. Your construction business will inevitably need to adapt over time to the needs and desires of its clients, not least because the customer has far more control these days than ever before by way of things like social media and online reviews. Seek out feedback from your clients at every opportunity, but make sure that you don't end up being intrusive and don't bombard people with too much information or too many questions. Many customers won't have the time or the patience to leave feedback, and you'll have to learn to accept that. Fortunately, there are some practical ways of encouraging your customers to leave feedback, such as by offering incentives like promotional codes and other discounts for completing a short survey or answering a few questions about their preferences and habits. Feedback doesn't always need to come from clients themselves, either. You can gain invaluable insights, albeit not entirely as accurate, by reviewing reports on your industry. Many companies provide insights into specific markets by analyzing trends in online behavior to help your business better define its target audience. Create Your Client Personas Create a profile of your perfect customer. If your construction business has an unusually broad reach, then you'll want to segment your target audience and create personas for each customer category. Map out the behaviors and interests of your customers based on important factors such as demographics, buying habits, geographical location, and more. You can even name these imaginary customers if you like, since this may help you to imagine them in a more practical light. When defining your customer profiles, be sure to seek answers to the following questions: What other related businesses would they likely choose to work with? What sort of subject matter is most likely to interest them? What are their demographical attributes? Where are they located?  What do they need or want?  What do your customers do to entertain themselves? What is their income level? How much would they be willing to spend? What are their priorities and goals in life? How do they approach change? What are their past purchases? How often have they hired you? Every day, millions of people turn to Google to find answers to their questions, solutions to their problems, or simply something to entertain them. What sort of queries does your business offer solutions for? By knowing your customers' problems, curiosities, and interests, you'll be able to tailor your content, your marketing strategy, and your product itself to better suit those criteria. Avoid basing your customer personas on a real customer, since no single individual can completely represent your target audience. Instead, a customer persona should be reasonably broad, and it should characterize your perfect customer.  Profiling your customers won't result in your construction company's profit if you don't know how to sell more to existing clients. Just because you're a contractor who provides services doesn't mean you can't cross-sell or up-sell. It's much easier to sell to existing customers than to acquire new ones. Read on to learn how to generate more income by working these two sales strategies like a pro. Cross-selling Cross-selling is simply inviting your customers to buy a secondary item that naturally bundles with a product they're already purchasing. This works particularly to the handyman and home service and repair contractors who have materials readily available for use. You'll get the best results with cross-selling when a complementary item is offered at a much lower price point. Up-selling When you up-sell to a customer, you're asking them to consider a higher-priced upgrade during a sales transaction. Think of an up-sell as a recommendation. You're endorsing the best version of a product or service your customer is already planning to buy. It's usually much easier to up-sell a customer than to cross-sell. Paying more for the premier option is a smaller stretch for a client than deciding to buy something extra that wasn't initially part of the plan. Whenever you're telling your clients about a product's features, suggest the benefits of the premier option. Even if they decide not to buy at the highest price point now, they might keep it in mind for next time.  Up-selling often happens naturally in sales when the focus is on the product that would best meet your client's needs rather than starting with price. Explain the differences between two or three options, providing all the information your clients need to make the best choice. In conclusion With your client profiles in place, you'll be able to match each area of your marketing strategy to the individual characteristics of your clients. By targeting smaller and more specific audiences, you should be able to increase the percentage of paying customers and valuable leads instead of wasting time and money on targeting the wrong people.  As you integrate up-selling and cross-selling into your sales strategy, always keep your ideal clients and their needs top of mind. By being knowledgeable about the problems your customers most want to solve and able to provide honest, helpful advice - your clients will grow to trust you and your recommendations.  Ultimately, don't forget that it's not about getting more visitors to your website: it's about getting more visitors that go on to become paying clients. P.S. We are excited and honored that Randal is nominated as the 2020 Small Business Person Of The Year in our city. If you are on Alignable, I would appreciate it if you can connect with us and "like" our recommendation. Screenshot of Alignable nomination 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0351, And It's About Collaboration - Why It's Essential To Your Construction Company Many elements are vital to a growing construction business. A financially-astute leader is one. A confident and motivated sales team well-versed in your construction company's service line is another. But starting and growing a business requires more than employees with extensive functional skills and appropriate personal characteristics.   Growing a construction business requires collaboration - the deployment of employees in a way that allows them to work together to problem-solve and act with a shared sense of urgency.    When this occurs, group members come to leverage the strengths of one another as they work to achieve shared objectives vital to the construction company's growth. Also, mutual learning takes place, which increases the probability that each employee's performance will evolve from good to better and then best. In turn, a company's performance improves as well.   As collaboration occurs, teams leverage individual differences to produce exceptional outcomes. This knowledge sharing creates a learning enterprise in which construction employees more readily identify solutions to problems. As a consequence, the company may become more operationally and financially successful.  There are many reasons that collaboration has these positive effects. Makes The Best Use Of Available Skills  A collaborative environment makes a range of disciplines accessible on an as-needed basis, which leads to the efficient use of employee talent in a way that isn't possible otherwise. Collaboration allows multiple individuals to participate in the completion of a task at hand, which makes it more likely that the right talent is available at the right time. With collaboration, tasks are completed more efficiently, leaving more time for staff to concentrate on activities that contribute to your construction company growth. Facilitates Problem Solving  Collaboration allows a company to throw the most skilled resources at a problem, which may mean a solution is identified more quickly and more cost-effectively than might be possible otherwise. Leveraging the most appropriate resources means a team's overall functional breadth and depth increase, which can improve the quality of a project's processes and result. Besides, diverse and complementary talent may enhance individual work processes as each employee becomes a part of a greater whole, which can positively affect a construction company's culture. It's the change in culture that contributes to new thinking, which may lead to new ways to perform, which helps the company to grow. Leverages Individual Differences  Asking employees with very different skills to collaborate to accomplish an objective leverages individual knowledge, strengths and capabilities and maximizes organizational potential. A team succeeds or fails according to the combined capabilities and commitment of the individuals involved. Deploying a variety of unique strengths and skills advances a team's understanding of a problem, which can lead to faster problem scoping and solution formulation, and more effective solutions. Builds Company Knowledge  A group brings different perspectives to a problem at hand. As individuals share their views, each team member considers issues from multiple viewpoints, and the person begins to think like the group. Likewise, as each individual demonstrates a particular skill, other team members may learn these skills, which will be helpful when attempting to accomplish new goals. In effect, team interaction allows team knowledge to build up, like compound interest. In this way, a construction company leverages individual perspectives across the enterprise.  Creates a Learning Enterprise Collaboration provides an opportunity to move beyond learning management systems and content to learning in context, which can be empowering to an entire team. When two people work together, they inevitably share knowledge, which contributes to a culture that supports ongoing learning. Consequently, collaboration creates a safety net that protects a company from a lack of appropriate expertise. As an individual collaborates with others, his knowledge expands as does the reach of his skills. When this occurs throughout the organization, its knowledge boundaries extend, leading to new opportunities and new ways of doing things.  One way to improve and encourage collaboration in your workplace is by developing your communication skills, whether you are a construction business owner, project manager, or staff. Here are a few ways to improve it: 1. Always maintain control of your emotions in stressful situations Leaders are often called upon to make difficult decisions under circumstances that are not ideal. If you can keep a cool head and calmly make decisions in a crisis, the people around you will begin to recognize you as the go-to leader when new or challenging situations arise. 2. Remain focused on the conversation at hand When you are in the middle of working on a project, it is easy to get tunnel vision that prevents you from focusing on what is happening around you. When someone engages you in conversation, always make an effort to stay focused on what they are saying. Occasionally repeat back your understanding of what the other person just told you. Not only will this behavior make them feel you value their input enough to listen, but it will also increase the level of respect they have for you as a leader/coworker. 3. Pay attention to your body language It is important to remember that your body language can be just as essential as what you say. If you are in the middle of a conversation with someone and they see you furrowing your brows or not making eye contact, they could walk away with the impression that you are disinterested or angry with them. Try to maintain a neutral expression when conversing with your staff or coworkers. 4. Do not interrupt When you are a leader, people will often approach you because you have the answers. However, it can be easy to speak without a full understanding of what is being asked and provide someone with incorrect information. Always allow the other person to finish their thought and ask their question in its entirety so you can give a thoughtful, helpful answer. 5. Do not make snap judgments when speaking to someone Occasionally, leaders are sought out when someone has made a mistake or poor business decision. If someone you are leading comes to you and admits they have done something wrong, try your best to withhold judgment. Sometimes this will require you to listen to their side of the story and reschedule a meeting later in the day or week to discuss a more productive course of action. Other times, it may be as simple as asking them what their solution to the issue would be and addressing it from that angle. 6. Be consistent with your feedback When you are leading people, ensure that you look for opportunities to offer positive and negative feedback consistently. Many issues in building sites can be prevented by merely mentioning positive behavior when you see it and constructively pointing out negative behaviors as they occur in hopes of it ending there. Final thoughts If you are looking for ways to lead and collaborate more effectively, communicating better is one of the easiest and most valuable skills you can learn. Effective communication will help you to gain the trust and respect of individuals around you, which is one of the most valuable assets you can acquire. Collaboration supports a company's efforts to act with a shared sense of urgency by deploying employees with particular skills in a variety of ways. Collaboration is also an effective means of problem-solving because it allows a construction business to leverage individual employee differences, evaluate employee efforts in the aggregate, and create a learning enterprise. When problems are solved more readily, resources become available to achieve other construction company objectives, including business growth. P.S. We are excited and honored that Randal is nominated as the 2020 Small Business Person Of The Year in our city. If you are on Alignable, I would appreciate it if you can connect with us and "like" our recommendation. Screenshot of Alignable nomination 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0350, And It's About How To Find And Keep Top Construction Employees We all know the usual process of finding new employees. Advertise a job,  read resumes, conduct a telephone interview, conduct a face-to-face interview, then choose someone. The steps to recruiting new talent have been the same for decades, leaving many construction business owners to think these are the only way to find new employees.    There are many top-notch employees that you might not find if you don't change your strategy, however, these days there are many new and exciting ways to connect with possible staff and attract qualified employees to your business. All you have to do is be willing to be creative in your thinking.    Get your current employees on it Besides you, who knows better what you need in an employee than your current employees? Not only do they know what you need, but they can also vouch for the people they recommend. Using an employee referral program can save you the costs associated with advertising a position, undergoing extensive interviews, and then training and retraining employees who don't work out.    How does it work? Your employees recommend people for a job with your company, and if their recommendation is successful, they get a reward. This can be a cash bonus, a gift, additional days off work, or the opportunity to work from home for a few days.    Make sure the program's details are precise: does the referred employee have to be hired for the benefit to kick in, or do they have to work at your company for a specific period? Does the gift get more extravagant if they recommend more successful recruits?   Keep the rules simple and make sure all employees know about the program.  Turn to Social Media Social media isn't just a great way to build your customer base; it's also a fantastic way to build interest in working for your company. Employees of all ages—but especially younger generations—use some form of social media to look for work. That could be LinkedIn, but it can also mean Facebook, Twitter, Instagram, or a variety of other sites.   Even if someone who sees your post isn't interested, they may share it with their friends or followers, who will share it with theirs, vastly increasing your reach. Be sure you know who your target candidates are and what social media channels they use and tailor your ads or posts to them.    If you have the time to have a long-view of recruiting, start building your company's employment brand online early by releasing content that highlights your corporate culture. People may see those posts and come to you so you can develop your talent pool. At the very least, you'll already be on their radar when it comes time to hire.  Reach out to past candidates Just because someone wasn't the best candidate for a job in the past doesn't mean they aren't now. There could have been many factors that resulted in that person not being the best fit at that time. Perhaps they've taken courses or developed their experience since you interviewed them.    When you interview people that you like, but they don't quite make the cut, keep their resume on file and consider reaching out to them when a position opens up. You never know when the time will be right for them.   In light of finding the right employee, make sure your company is also a good fit for job-lookers. One way of attracting and keeping top and able crew is creating personal development plans for your employees. Hopefully, you have long - and short-term plans for your company, and you may even have a strategy for your development, but have you considered having a personal development plan (or individual development plan) for employees?   An employee's development plan is an action plan that focuses on helping staff improve their knowledge, capabilities, and skills in areas related to your business.   Creating such plans shows your staff you're invested in their future, which increases employee satisfaction. It helps them understand their role and gives them a framework for expanding their talents. It enables you to develop your staff, allowing you to promote from within and enabling your employees to grow with your construction company.   Here are some steps to take to write a personal development plan.   1. Determine business and employee goals    The first step is to determine your company's goals and needs. Are you looking to expand locations soon? Add new products or services? Do you have senior employees who will be retiring soon? Once you know what your business needs, you can identify the skills, experience, and training that will support the people who will help you meet those requirements.    Then determine your employees' goals. Talk to them about the work they currently do and where they feel they could use training. Ask where they see themselves in your company in the future. Find out why they want to develop their skills. Their answers will help you determine how to put the plan into action.     When you assess employees, keep in mind that having the ambition or potential to move up in your business doesn't necessarily mean they're ready right now. They may require a few years of gradually expanding their role and skills, or they may be great at one job (say installation) but not at another (such as sales).    2. Explore training and development options   Now you can look at training and development options for your employees. Consider what training will give them the skills they need to expand their talents while also weighing their learning styles. Not all employees learn well in a classroom setting - and not all have the time to devote to taking courses.    Explore other options, such as coaching and mentoring, special projects, networking groups, online training, and working with experts. Combining a few of these strategies will likely work well for your employees as they can learn new skills and see how those skills apply to their jobs.    3. Write a development plan   Finally, you can write up the plan, including specific goals with deadlines and the steps to take to help your employees achieve their goals. Sit down with your employees to talk about the program over, so they know what the goals are and how acquiring new skills helps them and the construction company.    Ensure that each employee has the opportunity to apply their new skills on the job and get feedback about their progress. This will keep them engaged in the process and help them refine their abilities. Remember to review the plan periodically so you can measure their development and determine if the project should be revised.   In conclusion   There are many things you can do that can be successful in finding the right employee for your business. As a bonus, some of these strategies won't necessarily cost you a lot of time or money and may get you highly qualified and loyal employees. Employee development plans are a great way to invest in your employees and help them acquire new skills that will help them in their careers. It also enables you to promote from within your construction company, saving you time and money in the long run.  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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0349, And It's About Home Maintenance And Repair Service Company Automation And Technology The daily processes and transactions involved in operating a home maintenance and repair service business can mean long hours of repetitive tasks and occasional oversights due to human nature. These days, you can use technology to take care of almost any issue facing your business.    Automating these tasks can result in significant savings in resources and eliminate mistakes caused by human error. The key, however, is to know which tasks should be automated and which ones warrant staff intervention and guidance. Let's take a look at some of them.   Lead Capturing, Nurturing, and Scoring Automating your lead development process can do wonders for your service-based company's conversion rates. Both hot and cold leads require attention and targeted engagement to convert into paying customers. Using automation software can help sales reps to guide prospects to end of the sales cycle strategically, and it can also direct you towards the leads that will convert the fastest. Engaging New Contacts Entrepreneurs like you meet new contacts all the time. Whether it's a potential business partner or prospective client, automating your engagement with them can help you forge a solid rapport after your initial contact. Several CRM options will allow you to group contacts by event, type, company, and location, amongst other settings, to ensure that your business card collections don't go to waste. Personal Direct Mail  Outreach efforts with a personal touch tend to garner higher engagement rates, which explains why businesses send out birthday cards, calendars, seasonal greetings, and other materials to customers. With the right software, you can set up automated, sequenced events to gather customer personal data and incorporate it into specific marketing activities. Hiring Processes Automating your hiring process is one of the best things that you can do for your business. Everything from receiving applications and interviewing to setting up drug tests and completing new-hire paperwork can quickly be done with automation. First, outline what your hiring process looks like. Next, determine staff member roles and duties within your operation. And lastly, establish time frames that each activity should fall within. There are tons of HR software programs that can make automating your hiring process a breeze. Word-of-mouth marketing   Numerous marketing studies show that consumers are more likely to buy from companies if a friend has referred them. Encourage customers to give referrals about your services by simply asking for them. There are several ways to automate this, including adding referral mentions to discount offerings, a website page, and email outreach campaigns. The Benefits Of Technology If you have a task that you don't like to do, there's an app or software program to take care of it for you. It might take a few moments of your time to learn and understand how the software or app works, but doing so will save you valuable time and precious energy. It will also free you up to spend time on the tasks you love to do, not on all the paperwork and record-keeping that go along with running a business.  Here are some programs that we use to make our clients' home maintenance and repair service business easier to manage: Xero Like many construction business owners, you probably didn't dream of owning your own business so that you could manage a paper trail and oversee cash flow. You likely have very little interest in following up on unpaid invoices or spending time paying bills. That's where Xero comes in. Xero takes care of accounting for your small business. You can create and track invoices and purchase orders, manage sales and purchases, and set up scheduled bill payments. You can even reconcile bank transactions any time from a computer, tablet, or smartphone and have up-to-date financial information about your business. If you have employees, you can track payroll and manage time and money spent on projects. Xero offers easier business financial management without the headaches.  Receipt Bank If you hate taking time away from your clients and work projects so you can manage your paperwork, Receipt Bank has what you need. Receipt Bank is a technology platform that construction business owners can use to manage their vital business documents. Anything necessary that relates to your business - such as receipts, invoices, and other documents - you simply capture on your mobile phone, through email, or scan on your computer, and upload it to the platform. Receipt Bank then takes the information and displays it for you so you can download it or send it to connected accounting software. It can also categorize your expenses for you. It requires some time to set up manually, but once your account is set up, Receipt Bank will save you vast amounts of time. Hubdoc Hubdoc takes care of data entry, such as entering all your bills, invoices, and other paperwork for you. Hubdoc allows you to take pictures of your paperwork, link it to your account, and develop usable data. It automatically fetches your bills and syncs with your accounting programs. You can even give your accountant access to the program so they can stay on top of your finances as well. If you love the idea of simplifying your home maintenance and repair service business and avoiding masses of paper everywhere, Hubdoc can help you. TSheets Getting timecards into QuickBooks and processing payroll can be a big hassle for your construction company. Timecards come in late, causing a payment to be under enormous pressure to meet direct deposit deadlines is a tremendous feat on its own. Tracking employee bonuses, reimbursements, and garnishments take time and money and can cost your company some severe fines, penalties, and lost productivity if you weren't able to handle it correctly. Manual time cards are painful, and we have found the best time card calculator using TSheets. Final thoughts There's no question that these types of apps and software platforms can make business owners' lives easier. Most business owners didn't start their business so they could be surrounded by paperwork and endless record-keeping tasks. Choosing a platform that meets your company's needs will free up time and energy to focus on the things you love to do. Set aside a week or two to take a look at any processes that can be automated within your business. Automating repetitive and tedious tasks can aid you in uncovering hidden cost-savers and potential sales opportunities for your Home Maintenance And Repair Service Company. 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0348, And It's About Construction Business Blueprint For Updating Plans And Setting Goals 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).    How do I conduct a cash flow analysis? An accounting software allows you to conduct a cash flow analysis through the platform itself or possibly via an add on. Open the program, and often a cash flow statement can be found under a "Reports" tab or something similar. So if you're already using accounting software, you can have a cash flow statement with minimal effort.  If you don't use one, you'll have to conduct the analysis manually. Here is a basic cash flow analysis (This can easily be done using a spreadsheet):  First, enter the amount of cash your business had in the bank at the start of a financial period (say a month). Second, add up all the money that came into your business in the month. Include only money that came in, not money owed by clients. Third, add this to the cash from the start of the month (in Step 1). Fourth, add up the cash that went out for the month, including rent, cost of goods, fixed costs, and loan payments. Fifth, subtract the total in Step 4 from the total in Step 3. This gives you your cash at the end of the month, which is also your starting balance for the next month.  If the cash in your account is lower at the start of each month from the previous month, you have a cash flow problem that requires further analysis.  Why is cash flow important? Not making enough money to cover debts is the primary reason small businesses fail. Understanding your cash flow can help you take the steps you need to identify and address issues before they threaten your construction business.  A cash flow analysis can tell you if you're allowing clients too long to pay their invoices, making you financially vulnerable. You can then determine if you need to charge a deposit for your services or shorten the payment terms. It can also tell you if you're spending too much in areas that are not profitable for you. This can help you figure out where you need to cut back on spending—or charge your customers more.  Regular cash flow analysis can also show you what times of the year your construction business drops off. This can help you plan for those times to make sure you have enough money to cover a loss in revenue.  Accounting software to boost cash flow and improve your bottom line If you think accounting software is just for tracking expenses and generating financial reports, you're losing out on an opportunity to improve your bottom line. By taking advantage of insights provided by your software solution, you'll benefit from a more informed approach to marketing and customer service – and by making the most of all the ways your software can improve productivity, you can take meaningful action to increase profits. Here's how: Understand client behavior In addition to storing real-time financial data, your accounting software can also retain important information about your clients. Insights into your customer history and preferred payment methods, for instance, can help you tailor your marketing strategies to each type of client you serve. Use what you know about customers to set up a segmented mailing list. Marketing directly to the clients who tend to hire you for a particular service is a much more effective way to make sales than approaching your customers with a one-size-fits-all email campaign or promotion. Reporting capabilities built into your accounting software can show you who your best customers are and your most popular products. With this crucial information, you'll hit your sales targets by only promoting the goods and services that you know your customers want. The real-time data your accounting software provides can also translate to an improved overall experience that will win over your customers. For instance, when a client gets in touch with a question, you'll be able to respond quickly with useful, accurate background info. With more in-depth knowledge of your customers, you'll be able to cross-sell and up-sell more easily by suggesting additional products and services that might meet their needs.  Free up time to reach more clients One of the great things about accounting software is how much time you'll save by automating processes like invoicing and payroll. And if your software solution integrates with your other construction business apps as well as your CRM (Customer Relationship Management) System, your business will be even more productive. By getting more efficient, you'll have more time to touch base with previous customers and find new clients.  Consider making the most of that extra time in your schedule to:  Organize professional development opportunities that improve your team's sales skills. Update your business plan based on real-time financial data and enhanced reporting. Implement growth strategies designed to scale your construction business and Make more informed decisions on every aspect of your business to cut costs, improve productivity, and boost your profit margin. Are you using QuickBooks for your Construction Business? Gain insight from the Contractor's Accountant, Randal DeHart, and master the skills needed to generate useful reports, repeat quality performances, and make informed decisions to operate and grow your construction company. Visit Construction Accounting Academy to learn more. Final thoughts  Understanding your cash flow and making strategic decisions about your company's future is vital for business survival. Unfortunately, many construction business owners make the mistake of not understanding or, even worse, ignoring the importance of cash flow, and that often results in losing their business. Now that you're fully aware of the customer insights and time-saving capabilities your accounting software provides, what will you do differently to boost your bottom line and build a more profitable construction company? Start the year right! Need help managing your cash flow? We can help a little or a lot depending on your needs. Fill out the form on the right, send me an email [email protected] or contact me today at 1-800-361-1770. 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0344, And It's About How To Achieve Business Success With A Construction Accounting Mentor As the year ends and another page is turning, it is important to learn and listen from trusted people who have come to assist you and guide you in your personal and professional endeavors. Your construction business's financial board, mainly your accountant, is one of them.   Ideally, you and your accountant are more than just an "adviser" and a "client" to each other. With your combined skills, expertise, and a shared mission to support a thriving business, you're more like strategic partners.    The key to achieving success in any partnership is, of course, healthy communication. Before the year ends or at your next meeting, be sure to ask your construction accountant these four important questions:   1. What's my best strategy for increasing revenue? Every construction business owner strives to improve profit margins – but the best way to quickly and sustainably grow revenue will vary from business to business. When reviewing your financials, ask your accountant to pinpoint and suggest smart strategies for driving higher revenue. For your unique construction company, that might mean focusing on new leads, encouraging customers to hire you more frequently, incorporating cross-selling or up-selling, or re-thinking your pricing strategy. 2. How would you assess our financial performance this quarter/year? It's part of your accountant's job to stay current with your company's financial statements and reports (i.e., your balance sheet, income statement, profit and loss statement, and cash flow reports).  Some small business owners – especially those who lack confidence in their financial literacy skills – may only want to know the basics, in simplest terms. Let your accountant know you'd like a more thorough analysis of your finances when you next meet and help in understanding what the numbers mean.  Ask for key ratios, like your gross profit percentage, and an assessment of the big picture, drawing comparisons with past performance as well as trends in your industry Also, ask for any insights your accountant might have into the reasons for new or surprising developments, and what you can do to correct areas where your business is falling short – as well as what actions you can take to continue any positive trends. 3. How can you help me grow my construction business? Your accountant should be prepared to offer professional advice to help your business expand and grow over time. Scaling a business can be tricky as it requires a company to do everything it must to keep their customers happy while adapting to change – such as new staff and new systems to accommodate a higher volume of clients.  Financial systems may need to change as your business expands; likewise, your company's financial management may need additional support as you transition to a larger company. Ask your accountant how you can best work together to facilitate smooth, sustainable growth with minimal disruption to operations, and for tips on how to successfully scale based on experience with other small business clients. 4. What are your most successful clients doing? Chances are your accountant serves as a trusted advisor to several clients – and therefore, will be privy to the inner workings of companies who are struggling and others who are thriving. Neglecting to ask your accountant about their clients' success stories is a missed learning opportunity. Even if a business has little in common with yours – operating in a different industry, or as a seller of products versus services – there's value in learning what yielded impressive results for another company. Alternately, you might ask your accountant how their clients overcame challenges similar to yours to help you brainstorm possible solutions. The opportunity to learn from not just an accountant but your Construction Accounting mentor can do more for your business than any course, educational program, or degree. Being a mentee means you get the benefit of first-hand experience without having to make all the mistakes yourself.  There are, in fact, many reasons why a well-matched mentor is an invaluable asset for a business owner. You'll have someone you can trust and confide in, lean on for advice, bounce new ideas off of, and get help refining your construction business plans.  So how do you connect with a mentor and get the most out of your mentor-mentee relationship? Perhaps you already have an accountant, but would like a Construction Accounting mentor in particular. The first step to seeking out a mentor is to know the kind of guidance you and your business would most benefit from right now.  For construction business owners in the early start-up stage, someone who can provide advice for surviving the first few lean years—and someone you can touch base with more often—may be the perfect fit.  In this scenario, finding a mentor with a background in your industry is a plus. Mentors with relevant experience have been where you are now and understand all your issues and frustrations. Let's face it: all business owners are busy people. And although it's most beneficial to meet with a mentor consistently, doing so in person on a regular basis can be a challenge for both parties. For some mentors and mentees, what works best is video calls. Our Contractor Bookkeeping Review, for instance, offers consultation and mentoring from Randal and works well through an online conference. To get the most out of mentoring—and to demonstrate how valuable your mentor's help has been—be sure to follow up on your progress. A mentor will appreciate hearing how you've put their advice to work, your milestones and successes, and the goals you'd like to work on in the future. Acknowledging your progress will help you stay motivated, too, by seeing how far you've come. Final thoughts Your accountant is an incredibly valuable resource for your business – and not just at tax time. Be sure to check in every quarter, so you have the up to date financial info you need, and your accountant's professional advice when it comes to making key business decisions. 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0346, And It's About Common Bookkeeping Pitfalls And The Value Of Outsourced Accounting Although most construction company owners recognize the importance of careful financial management, few want to spend their time dealing with numbers. Unfortunately, not keeping a close eye on your income and expenses can be very costly for a business.   Here are five of the most common bookkeeping pitfalls, and some simple tips for getting back on track. 1. Mixing business and personal All too often, contractors adapt a "buy now, sort later" approach to expenses, using the same credit card for personal and professional purchases. At the end of the month, they're left poring over statements, trying to sort things out. Mixing business and personal expenses cost extra hours of bookkeeping each month and muddles your overall financial picture. Avoid this pitfall by using a separate credit card and bank account for business, and being disciplined about separating expenditures. 2. Neglecting to track reimbursable expenses Receipt-tracking is a necessary part of business ownership. You need to keep track of receipts to understand spending patterns and effectively manage your company's finances. And if you want to claim deductions at tax time, you'll need to submit receipts along with your tax return.  But far too many business owners take a haphazard approach to collecting and organizing receipts—especially while on-the-go, where a whopping 50% of their expenses are generated. Get the deductions you deserve and simplify tax prep by using an expense-tracking app. We have a directory of additional resources of apps and software for contractors that can record mileage, billable hours, and other expenditures, as well as generate expense reports. Plus, many of these apps sync seamlessly with your business bank account and accounting software. 3. Not taking advantage of technology Are you still relying on manual accounting methods? While basic spreadsheet tools can get the job done, they leave the door wide open for human error. Mortgage loan giant, Fannie Mae, once uncovered a $1.1 billion error on their Excel spreadsheet, citing "honest mistake" as the cause. What's more, manual methods can't match the technological benefits offered by software like QuickBooks or Xero. These systems track invoicing, link with your credit card and business account, organize expenses, and generate insightful financial reports. 4. Not keeping accounts up to date Let's be frank. Most construction business owners don't look forward to that weekly appointment with "the books." Many entrepreneurs cite bookkeeping as their most dreaded responsibility and will find a host of reasons to avoid it. 5. Doing it all yourself It is entirely understandable for budget-conscious entrepreneurs to try to cut costs by handling bookkeeping on their own. However, taking advantage of professional help—even on a part-time basis—can generate substantial savings of time and money over the long term. "Outsource your weaknesses." So says start-up guru, Sujan Patel, when advising small business owners to get outside help for tasks like payroll and bookkeeping. And when you consider that 70% of businesses fail due to poor in-house financial management, Patel's advice seems spot on. Unfortunately, many small business owners seek to keep costs low by doing everything themselves— unwittingly sabotaging the financial stability of their own company. If numbers aren't your strength and you would instead focus on building your business, it's time to hire a bookkeeper.  Here are four ways to ensure that you find the right fit. Choose a bookkeeper with experience in your industry. The nuances of bookkeeping vary from one corner of the market to another. When assessing candidates, it's important to look not only at total years of experience but also at the relevance of that experience. As an example, your business is in construction and home service repair and maintenance, a bookkeeper who has primarily worked in the retail industry won't have the insights into your industry that can add value to your work together.  Look for membership in a professional association. In addition to a degree or diploma from a recognized institution, your bookkeeping candidate should belong to a professional bookkeeper association. Most associations test applicants to verify their technical skills and theoretical knowledge to protect and further industry standards.  Many associations require members to earn a credential, prove a high standard of proficiency, and continue to improve their skills through ongoing professional development.  Put a high premium on communication skills. Construction business owners must have open, effective communication with their bookkeeper. You will need to sit together each month to review key financial reports, such as the profit and loss statement, balance sheet, and cash flow statement. A competent bookkeeper should be adept at explaining and breaking down complex accounting concepts in accessible ways, so you always have a clear understanding of your financial position. During the initial process, ask them to explain a few key concepts, like gross and net profit, job costing, or deferral transactions. Strong communicators can make the abstract easily digestible –precisely what you need in a prospective bookkeeper. Evaluate honesty and reliability When you hire someone to look after your books, you place a considerable amount of trust in their integrity and trustworthiness. But how does one evaluate these character traits during a consultation? The best approach is to ask open-ended questions that get them talking about the ethical challenges they've faced in the workplace, such as: Tell me about a time when you committed an error. How did you handle the situation, and what did you learn from it? How would you respond to uncovering an unethical or fraudulent accounting practice in the workplace? Final thoughts The bottom line is that outsourcing a bookkeeper is about much more than finding an able number-cruncher. The person (or company) you choose will be an integral part of your business success. Having the right bookkeeper for your Construction Company is the key to saving time, money, and energy that is better spent on more valuable opportunities. Look holistically at their technical skills and character to find your ideal match, and you'll gain a valuable professional ally for years to come.  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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0345, And It's About Construction Business Blueprint For Updating Plans And Setting Goals As another year winds down, it's a good time to reflect on your recent construction business successes – and consider what you'd like to achieve in the coming twelve to fifteen months. One tiny change in your process can help you grow your Construction Company.   Entrepreneurs are typically highly creative and optimistic; as a result, they often have difficulty narrowing down their ideas from among all the exciting possibilities, whether it's an opportunity to expand to a new market or choosing a better time management strategy.    Set priorities As you update your business plan, focus on what's most important for your construction business to achieve this coming year. Then break your goals down into smaller tasks, maximize productivity, and enjoy the little successes that lead to significant changes. (More on this below) Keep in mind Randal's Contractor Success M.A.P. (Marketing-Accounting-Production) to help you stay on track and provide you with solid direction to reach your target. Think different Your priorities in the coming year may be to hit a specific revenue target, launch a new service/subscription, or tap an entirely new market. An important thing to keep in mind as you make plans to move your construction business forward is how you'll stay competitive. For instance, it's essential to review your pricing strategy on an annual basis, to ensure you continue to attract new prospects and retain clients. As part of your overall business planning process, spend some time on competitive intelligence, too. Include in your plans how you'll increase value for your offerings and continue to stand apart from the crowd. Review your bookkeeping reports and consider the insights of your accountant moving forward. Find money If scaling your service-based business is on your agenda for the year ahead, and you don't have savings earmarked to fund your ideas, you'll want to make sure your business plan includes adequate financial planning. Applying to a lender for a business loan is one option. In this case, you'll want to include up to date cash flow reports, income statements, budgets, and projections in your plan for a potential lender. If your construction business doesn't have a credit history, you may need to look at other options for financing your plans. Using a business credit card regularly and paying off the balance can help you build a good credit rating, which will help you prepare to apply for a loan down the road. Again, your accountant can help provide additional financial advice and support as you update your business plan, based on your most current financial records.  While some of you love planning, others feel overwhelmed by the process. How do you decide on just a handful of goals that take priority, with so many moving parts that make up a construction business? Set SMART Goals Focus your efforts and increase your chances of achieving your goals by the SMART guideline: Specific, Measurable, Achievable (Attainable), Realistic, and Time-Bound. Start by defining your top three business goals for the next four quarters. With those in mind, do some research to help you decide on the best way to achieve those three goals – and a reasonable timeline for meeting specific targets.  Redefine your brand Is the elevator pitch you used a year ago – even six months ago – still accurate? Unless you are crystal clear on who you are as a construction company, whom you're here to serve, and what you hope to achieve in the next one to three years, it's going to be hard to come up with meaningful goals. Take a look at your company vision, mission statement, and core values. If they need tweaking to reflect where your construction business is today and where you want it to go, start there. Then you can move on to setting some useful long and short term goals. Big picture planning Construction business owners dream big—and they should! Thinking big can lead to groundbreaking products and services that become the foundation of innovative, successful companies. When it comes to goal-setting, thinking big is great, too. But to make those big ideas like "increasing market share" or "growing profits" happen, you need to break them down into smaller, specific goals and strategies tied to a budget and timeline. For instance, while your overarching objective may be to "grow profits by 50% by December 31", your smaller goals might include: Launching a social media campaign the first week of March to attract 2,500 new prospects by months' end; or Increasing total sales by 40% by establishing an online presence (Business Website) by July 1st.  Again, the key is to define goals that are measurable and achievable. Define smaller goals Thinking through how you'll achieve your broader objectives can be a fun exercise – one you can turn into a group activity, including your entire team. Sit down and discuss what you know about your customers. Review your historical sales data and look over your current budget and forecasting.  With all the relevant information at hand and everyone at the table, you can come up with strategies that align with your construction company vision, assign deadlines, and get buy-in on what everyone needs to do to see your ideas through to completion. Final Tips Review your business plan every quarter to ensure you stay on track with your goals and priorities throughout the year. Be realistic about opportunities and challenges as you plan. Your accountant can offer business advisory services – and help you set meaningful short and long term goals. It's worthwhile to take some time to reflect on your personal goals as you think through your business goals. Maybe you've wanted to get involved in mentoring, improve your networking skills, or attend more conferences. Self-development is, in a sense, professional development – and vice versa, so include them in your plans. Of course, coming up with business goals is just one part of the equation. You'll also need to monitor your progress, noting milestones and sharing your company achievements with your team regularly. Tracking your results will help your employees stay motivated – and it also gives you the chance to adjust your goals and strategies in time to achieve the best possible results by year's end. With these business planning tips in mind, you'll be well-prepared for a new year of growth and continued success.  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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0344, And It Will Be About Quotes Vs. Estimates And Insights To Contract Negotiations   The nature of some types of businesses makes it challenging to come up with a standard price list. For tradespeople and construction company owners like you, what's required in terms of time, skill, labor, and materials frequently vary from job to job. Offering an estimate or quote provides potential clients with a customized figure for what they can expect to pay based on what will be required to complete a specific project. Quotes A quote is a legally binding fixed price a company prepares for a client; as such, they should always be in writing. A quote should summarize the work to be performed and include a detailed breakdown of all the costs and the final total, including taxes.  Once a business offers a quote and a client signs off on it, the price cannot change even if the job ends up costing more than initially anticipated. For this reason, it's crucial to always quote as accurately as possible, allowing ample time to complete the job and carefully pricing out costs for materials and labor (e.g., subcontractors).  To protect your business from "scope creep," a quote should also stipulate that additional charges for extra work beyond what the original quote covers will apply. Estimates Unlike a quote, an estimate isn't legally binding, and it isn't a guarantee of what the actual work will cost. Still, it's recommended that estimates also be provided in writing. An estimate is offered as a ballpark figure, based on the information available about a project at that moment in time. As such, it's understood that the estimate is subject to an increase or decrease once the work begins.  Construction companies should take just as much care when providing an estimate as they would when drafting a quote. Ideally, an estimate should provide a number within roughly 20 percent of the final price. It's good practice for businesses to provide more than one estimate, to offer a range of options at different price points. Tips For Costing Out Jobs For small construction businesses, it's vital to appear as professional as your larger competitors whenever you communicate with clients, but especially when negotiating the details of a potential project.  Be sure when you're preparing your quote or estimate that you include the following information: Your business number  Business contact info (phone, email, address) A detailed summary of the work to be performed A breakdown of costs (subcontractors, materials, time and hourly cost for labor) The total cost A timeline for the work and completion date Contract terms, including deposit and payment schedule Another essential bit of information is to provide your clients when the quote or estimate expires. Many companies choose an expiry date of 30 days, to protect themselves from the possibility of rising costs for materials or other factors that may influence the cost of the job. Insights To Contract Negotiation There are several aspects of the construction business that can only be learned through experience. One of them is negotiating contracts.  Several people fear the negotiation process because it is an intrinsically uncomfortable process. Asking for more money or making personal demands doesn't come naturally to everyone. But with the right toolkit, you can breeze through contract negotiations. And you'd better get used to it because you'll have to handle many contracts whether you're a construction company owner or employee. Having the right mindset is critical to contract negotiations. You have to believe that you are going to get your way. Bring a positive attitude and a smile to the table. You're not signing contracts with the enemy. The people you're negotiating with are going to be your business partners in one capacity or another. Let's take a look at some things you need to remember when you're in the process of negotiating contracts: Be patient Don't rush to get a contract signed. Rushed contracts usually leave one or both parties dissatisfied. It's understandable if you want to get the negotiation done with, but taking the extra time to examine your contract will benefit you tremendously in the long run. Involve an expert You might know what you need from a contract in terms of overall business output, but you could get trapped by the legalese. Get a lawyer you trust on board to frame the wording in a way that protects your overall interests. Even if you're good at negotiation, involving an expert is always a good idea. Don't forget term sheets Term sheets are a broad overview of the terms of your contract. Before you get into the specifics, it's a good idea to make sure all parties involved agree on the big picture. Take it one step at a time Negotiating a complex and lengthy contract is an inherently tedious process. In the beginning, make sure you've got the necessary details agreed upon. Making some headway is crucial to the overall success of the negotiations. After you've established a rapport with the other party, you can dive into the deeper, more complicated issues. Think about the specifics The flowery language on a contract might make for good reading if you're of a particular leaning, but you need to understand what it translates to in the real world. How much will you be making? Use the phone Emails are notoriously difficult to decipher at times. You aren't aware of the body language of the sender, and sometimes people can confusingly word things because they don't have the best command over the language. If you're unsure about some issues in your contract, pick up the phone, and have a conversation. It will help sort things out. Don't fret too much about the first draft The first draft of your contract is just a starting point. Don't be alarmed if there are certain things in there which aren't to your liking. It's called a 'negotiation' because you will be changing certain aspects of the contract. If you can't make the tough calls, get someone who will If you're not a naturally assertive person or find it challenging to be demanding when the situation calls for it, ask for help from someone capable. It could be your business partner or even a spouse. Do your research You don't want to make outlandish demands that the party you are negotiating with can't afford. Take some time and do your research. See what similar services or products cost in the industry. Ask some construction experts for advice. In conclusion It's worth repeating that you should always take care to state clearly in writing the terms of your quote or estimate, and offer a client the opportunity to ask questions before approving the work. That way, both parties can avoid any misunderstandings about expectations and project costs before the work begins.  Negotiating a contract is like a prolonged game of chess, except both parties need to come away from the table victorious. Before you begin the process, figure out what your short and long-term goals are. If you have a clear vision, it will help you navigate the tricky waters of contract negotiation better. About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0343, And It Will Be About Efficient Business Systems And The Value Of Documenting Your Processes   Too many construction businesses fall over because the owner has not established efficient business systems. This typically happens because the construction company owner is so caught up in the day-to-day operations that the fundamentals of proper business management get forgotten. Often too, it must be said that the owner doesn't like bookkeeping or other administrative tasks, so these get put on the back burner. The symptoms are familiar, and their results disastrous: Poor or non-existent record-keeping.  Tax obligations are not met.  Invoices go out late, and debts remain uncollected.  There is one cashflow crisis after another.  Goods and services are incorrectly costed and priced. Any of these factors can lead the business down the slippery path to failure, but all are avoidable. The whole point about putting in sound systems is that they free you to spend more time working ON your business, not in it. Be Business-like To be in business and to remain in business, become a business person! To run a business, you must be business-like. It's not sufficient to be very good at what you do. Lots of 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 business won't last long. You must continue to develop your business skills. To be a businessperson, you have to make an effort to become something of an 'all-rounder', not just a specialist player. You can offer outstanding services, but if you don't develop superb business systems, then you are not a fully rounded businessperson, and your business will be in danger of failing. Remember that other stakeholders in your business, such as the building material suppliers who give you credit and the bankers who extend loans and financing terms, are always assessing your business skills. If you consistently pay people late or can't meet the terms of your debt agreements, they will draw the obvious conclusions about your business skills. How Good Business Systems Will Help You An exceptional business system will make your construction company stronger, more efficient, and easier to run. It will also make your business far more attractive to future buyers because if you have developed clear operating and procedure manuals, the company will be seen as an independently viable unit and less dependent on you.  Think, for instance, of what makes franchises so successful: it's because they are designed so that people can buy a proven system and operate it after minimal training. They can do this because the business procedures are captured in simple, clear operating manuals.  Here are some ways to implement excellent business housekeeping: 1. Good record-keeping and bookkeeping - will help you keep on-side with the Internal Revenue Service department. If you're able to meet your tax obligations through sensible planning, you'll sleep better at night. You won't fear a tax audit, and you'll know how your business is doing. A 'sudden tax demand won't catch you out of the blue' because no such thing exists for a well-run construction business. You should always know which taxes are due and when. You'll suffer less stress. 2. Proper business planning - will help you set goals for your business, with specific steps on how to achieve these goals. Without goals, where do you think you're going? Running a business without goals is like turning up at an airport and saying, "I'd like to go somewhere." The person at the ticket desk would think you're clueless! 3. Positive cash flow forecasting - will enable you to anticipate a possible cashflow problem (something all growing businesses experience from time to time) and take steps before the problem becomes a crisis. Banks will respect you if you anticipate issues and make plans in advance. Banks will not respect you—and will indeed categorize you as incompetent—if you tell them you've been 'caught out' by a crisis. Banks don't like messes. They want you to go to them well in advance of any possible crisis with a plan in hand. This shows them you're in charge of your business. 4. Great creditor and debtor control - will improve your cash flow. Invoicing promptly and collecting debts on time gives you the cash to pay suppliers on time and get more favorable credit terms from them. It is a virtuous circle. Sloppiness in this department is one of the most common (and unnecessary) causes of business owners experiencing stress and anxiety. So pay your creditors on time, and don't let your debtors use you as a free banking service. 5. Realistic pricing and costing - will ensure that you run your construction business in a competitive but profitable way. Poor skills in this regard could mean that you're operating at unrealistic levels—even at a loss. For example, if you let costs get out of hand (such as overhead costs), your profits will erode. There is no point in increasing sales if you're not increasing your profits. In business, you don't have to be an expert at everything. For example, you might hate bookkeeping. Fine—but do get someone else to do it for you, don't rely on a shoebox for your accounts! And you should at least understand the processes and the overall accounting picture even if you don't want to do the 'drudge work' yourself.  The Importance Of Documenting Processes Many construction company owners operate with their business processes and systems in their heads. They know what they need to do each day and the way they want to get things done. Unfortunately, when a construction business grows, and staff needs to be hired – or the owner needs to take time away from the company – it's a real liability not having processes and systems documented in one place. Here are five reasons to record your construction company processes and systems, so your business can run more efficiently and effectively, even when you're not there: Improve Efficiency When you sit down to record your processes and systems, you may discover gaps where improvements could be made. You might find better ways to perform routine tasks, reducing bottlenecks, and eliminating extra steps. You may decide that some tasks are too time-consuming, and you'd save time and money switching to an automated solution. Reviewing how you do things as you record systems can help create better systems, improving productivity. Support Your Staff Training When it's time to hire new talent, a systems manual can dramatically reduce the time you spend training. Documenting your processes can also ensure that jobs are consistently performed to a high standard. Sharing your procedure guidelines can help new employees, and casual staff quickly get up to speed on expectations and give them a reference to check before asking questions.  Sell Your Systems Develop a unique turnkey system that other construction businesses can implement to save time and cut costs, and you can increase profits by selling your operating manual. Those documented processes are part of your company's intellectual property and can be licensed, just like your brand name. Randal DeHart implemented systems using templates for QuickBooks and has tremendously helped hundreds of construction business owners like you. David Hawke and Randall Soules recently had a podcast interview with Randal and introduced their Scientific Remodeling System to the trade industry. Get Away One of the perks of running your own business is setting your schedule. But without systems in place, it can be challenging to get away for a vacation, let alone retire. To build a business that can run without you, you need to be able to delegate the tasks and processes to someone else, with the confidence they'll be performed correctly and consistently. Another excellent reason to make sure your systems are recorded and your manual are updated regularly. Sell Your Business When it comes the time to sell your business, you'll get top dollar if you can provide a buyer with an operating manual. A potential buyer wants to know the company will continue to run smoothly without you throughout the transition period, and that institutional memory will be retained when there's staff turnover. The greater ease with which someone can step in and operate the business, the greater the value and the higher your compensation when you're ready to sell. Final thoughts As we've identified, there are several excellent reasons to review your systems and record them, even if you're just starting out. You might plan to update it yearly, just like your business plan, to discover best practices and ensure it maintains its usefulness to you and your staff.  Having weak systems is the road to stress and burnout. On the other hand, sound business systems will enable you to work smarter, not harder. They free you to work on your construction business rather than in it. That way, you're more likely to avoid burnout, and you'll be able to take time off work because you can train others to follow your documented systems and procedures. Systems and processes are the way to build a better business and liberate yourself from it. About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0442, And It Will Be About Understanding Construction Accounting Terms And Why It Matters Hiring an accountant is widely considered best practice for small business owners. But delegating financial analysis and reporting doesn't mean thoroughly checking out of the process each month or quarter. On the contrary, it's recommended that business owners work closely with their accountants throughout the year to better understand their financial position and make smart plans for future growth. We have discussed time and again the importance of knowing the difference between Construction Accounting and Regular Accounting. For the sake of our new readers, blog subscribers, and podcast listeners, I'll be providing you with some basic accounting knowledge so you can have more informed, insightful discussions with your financial advisors before the year ends. 1. Cash Flow  Do you have more cash flowing into your business each month than you payout to cover costs and expenses? If so, your accountant will conclude that you're "cash flow positive." If the opposite is true, your cash flow statement will reveal that you're "cash flow negative."  Having excess cash on hand means you're better equipped to keep up with debt, cover unforeseen expenses, and invest in growth opportunities. Your accountant can generate a cash flow statement each quarter to keep tabs on this key performance indicator. 2. Profit and Loss Statement  The profit and loss statement (also known as the income statement) is one of the most important documents used by accountants to determine the profitability of your business. The P&L statement lists revenues and gains as well as expenses and losses over a specific period (typically every three months for small construction businesses). It calculates your all-important "bottom line," so you know if you're operating at a loss or turning a profit. 3. Gross vs. Net Profit Gross profit is what remains when you subtract the cost of goods sold (COGS) from your total revenue. Net profit, on the other hand, drills deeper. It reveals your exact dollar per profit of sales after subtracting all operating expenses, including COGS, taxes, and interest paid on debt, among others. Gross and net profit are both profitability ratios. They are key for measuring business performance against an industry benchmark and your competitors. 4. Balance Sheet The balance sheet offers a snapshot of your overall financial position at a particular moment in time. It lists the assets (such as cash, inventory, accounts receivable, and equipment); liabilities (like accounts payable, income tax, and employee salaries); and shareholder capital. In a nutshell, the balance sheet shows what you own, as well as what you owe. 5. Accounts Receivable & Accounts Payable Simply put, accounts receivable is money customers owe your business for goods or services sold. It is considered an asset on your balance sheet. Conversely, accounts payable is money you owe suppliers and any bills you have yet to pay, so it's listed as a liability on your balance sheet. Perhaps you're wondering if you're doing everything you can to boost revenue and cut costs? Or if your business is more profitable this year than it was last? The best way to answer these questions is with a thorough assessment of profitability. That's where gross and net profit calculations come in. These are two of the most critical metrics for measuring your capacity to generate earnings relative to costs and expenses.  Let's take a look at the differences between gross and net profit, and what they can reveal about the financial health of your business. Gross Profit: A General Overview Of Profitability You can calculate your company's gross profit by subtracting the cost of the goods or services you sell from your total revenue over a specific period. The equation looks like this: Sales - cost of goods sold = gross profit When determining the cost of goods sold (otherwise known as COGS), construction businesses take into account all of the processes involved in their production and delivery to customers, including: raw materials manufacturing packaging shipping and fuel. Once you know your gross profit, you can divide it by your total revenue to calculate your gross profit margin – a percentage that shows exactly how much money is left over after you've covered your COGS. This calculation will show you how efficiently you're managing your resources – and where optimization is needed – so you can work toward a healthier bottom line. Net profit: Drilling Down To Profits After All Expenses The net profit calculation goes a step further by determining how much revenue remains after subtracting all expenses, including COGS. Net profit reveals your precise profit per dollar of sales after deducting operating expenses, taxes, interest paid on debt, and the like. To keep abreast of your financial status, it's wise to calculate net profit every month. Determining your net profit is crucial for several reasons, including: Knowing how much you can safely pay yourself each month, or divide among your business partners; Applying for a business loan, where net profit is an essential part of the lender's free cash flow analysis  Measuring performance against the industry benchmark and your main competitors. Protect your profits by ensuring you get paid It goes without saying that calculating gross and net profits won't be beneficial if you're having trouble collecting payment from your customers. Staying on top of accounts receivable is crucial for maintaining positive cash flow, turning a healthy profit, and growing your business.  Here are a few tips for ensuring timely payment: Require payment upfront, operate on Other People's Money Track invoices weekly, contact clients immediately after the payment deadline has been missed, and work together to set a new period  Suggest an installment program for clients who are encountering financial difficulties. In conclusion Being a businessman requires an entirely different set of skills. Learning the basics of business and accounting will at least give you an edge among your competitors and understanding why it matters in your business will steer you away from failure and bankruptcy.   Tighter invoice collection, combined with clear insights into profitability, will pave the way to smarter, more efficient management – your key to long-term sustainable business growth.   You can learn more about the Key Performance Indicators in our Construction Accounting Academy site. Increase your profits, win more bids, and improve your cash flow by generating the five reports you review at 5 PM for 5 minutes.   About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]    

This Podcast Is Episode Number 0441, And It Will Be About Improving Client Relationships With CRM In The Construction Industry   Many complex moving parts are involved in operating a profitable construction company, but at its core, business success hinges on just one thing: customer relationships.    This is why Customer Relationship Management software is vital for contractors who want to grow their business.   A CRM solution helps your construction company nurture and improve client relationships by maintaining centralized data on all your leads and existing clients. With access to a history of customer transactions and communications, your team can make their next move with confidence while offering highly personalized customer service.   Construction business owners know that to find a loyal client base, they have to stand out from their competitors. One of the best and easiest ways to do that is to have outstanding customer service. How you treat your customers reflects your entire business. People think positively about companies that treat their customers and clients well.    Unfortunately, many small construction business owners focus much attention on their products and services, with customer service remaining an afterthought.  This is the reason why you need to implement and utilize a CRM that can improve efficiency and increase sales for your construction company. Increase Productivity A tool designed to record, maintain, and assess data about your leads and customers is a huge time saver that will help you and your entire team.  First things first, imagine how many hours it would take to create and maintain your system to track your customer's buying journey. Then consider these other benefits of using a CRM. Streamline workflow  A CRM software can improve the organization of tasks, coordination of duties, and collaboration – for example: when employees are assigned different aspects of a project.  Prevent brain drain When an employee takes a holiday, goes on parental leave, or moves on permanently, anyone on your team will have access to the information they need to pick up where your sales team left off.   Scale (minus the growing pains) There aren't enough hours in a day to personally manage all your customer data and communications. A CRM makes it possible to take on more clients and manage a more significant amount of data, so you can maintain client relationships, follow up on leads, and serve more customers as the business grows.  Increase Revenue And Sales Investing in a CRM can have a very high R.O.I. (Return On Investment), empowering you to close more sales.  Here's how: Improve communications  A CRM makes it easy to connect with your list of prospects and customers in person, by phone, and by email. Your team will make the right impression in every interaction by being current on each customer's history of communications and sales.   Identify segments Segmentation is a strategy you can easily take advantage of with a CRM, by grouping prospects by interest and location in your sales funnel. With this information, you can customize your communications with leads and increase your conversion rates. Up-sell and cross-sell A CRM can help you quickly identify opportunities to introduce higher-priced or complementary products to your customers based on your records of previous interactions and sales. The Bottom Line: Happier Clients Using a CRM is the key to an organized sales system that allows you to offer your customers exactly what they want, at the right time, and in the most appealing way. Happy Clients Are Returning Clients Returning clients are fantastic for business. It's less expensive to bring back a happy customer than it is to attract a new person to your business, and existing customers are more likely to make a purchase or do business with you than new ones are. Some reports suggest that loyal customers can be worth as much as ten times their initial purchase. So by keeping your existing customers satisfied, you not only save on marketing costs, you increase your chances of making money in the future. Excellent customer service makes your customers feel important. You can have a fantastic product or service—and that will go a long way to building your business—but your customers will also remember how you treat them. If you treat them well, they're more likely to be satisfied with their experience, and that will keep them coming back. Even better, if someone has an issue with your product or service, exceptional customer service can smooth things over and convince them to continue doing business with you.  Happy Clients Tell Their Friends It's not just that a happy customer comes back, it's that your happy client will tell their friends and their friends could also become satisfied customers who are loyal to your business. They, in turn, will tell their friends about you. The pattern will repeat itself over and over. Marketing costs money. Word-of-mouth is free, and it's far more valuable than advertising. People trust their friends when they recommend a product or service, much more than they believe an advertisement. Offering exceptional customer service is one way to build loyal customers who will tell their friends and colleagues about you.  Happy Clients Write Positive Reviews Happy clients don't just tell their friends how happy they are; they tell the world through online reviews. Whether it's posting a review on Yelp or Google, thanking you on your Facebook or Instagram page, or gushing about your amazing customer service on Twitter, customers can reach their friends, and also friends of their friends and, in some cases, strangers. If they talk publicly about how happy they are with how you treated them, others will see that and come to your business.  Final thoughts By maintaining an up-to-date database on every lead, prospect, and customer, you'll be able to serve each one more effectively, increasing client satisfaction and loyalty – with no time wasted internally by the need to catch up on previous interactions. The most important considerations when researching a CRM is that it's easy to use – so be sure to take advantage of a free demo or trial. You also want your CRM software to be scalable and to integrate seamlessly with your other business tools.  We have been where you are now and have tried and tested quite a few CRM over time. There's no "one size fits all" solution and each has it's own advantage and disadvantage depending on your type of construction business. Feel free to reach out to me to discuss your options, bookkeeping and accounting issues, or any other concerns you are dealing with in your construction company - whether through email, a phone call, or by filling out the form on the right. About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]  

This Podcast Is Episode Number 0340, And It Will Be About Inbox Productivity - Email Management For Your Construction Company Be honest: is email helping or harming your construction business?   Remember when email was new and novel, and everyone thought it would vastly improve communication while freeing up time? It did improve communication - especially in the construction industry, where you have a team working on the field and in the office - on some levels, and freed up employee time at first. Now, however, email has become a productivity killer.   Construction business owners and workers have to wade through hundreds of emails in their inbox each day. Many contractors working on-site, choose to deal with email as it comes in rather than all at once. This takes the focus off their work and makes it difficult to concentrate on their tasks. The problem with email in the construction industry A significant issue with email is that contractors tend to feel that they have to read and respond to every work email immediately. This means that they never stay entirely focused on any one task because they're often waiting for more emails. When emails do come, employees stop their work, focus on the email, deal with the issue it contains, and craft a response. Then they go back to work, but it can take time to switch their brains back and forth between email and their previous task. Ever heard of attention residue? That's a phrase coined by Sophie Leroy after two experiments showed people's productivity dropped when they moved back and forth between tasks, rather than focusing on one at a time. It refers to the tendency to have thoughts about a previous task in your head even as you move to another task, which makes it more challenging to complete the new task.  At its best, email can be a highly convenient and cost-effective tool for marketing and customer service – but without a plan in place for managing it, your inbox can quickly get out of control, creating unwanted stress and thwarting productivity. So what can a construction business owner do? Get email under control Set limitations to when email can be used within your company, you're already limiting the number of emails your workers deal with. That's a significant step. Encourage employees to set aside dedicated email time during the day—say once in the morning and once in the afternoon—to deal with their emails, rather than checking on an ongoing basis. If that's not practical for your company, encourage them to check every so often (once every two hours, maybe) or only between tasks. This limits attention residue and helps them to focus on the task at hand. Have your workers turn their email notifications off, so they aren't distracted as each new email reaches their inbox. Create a filter and file system Managing email becomes much easier when you stick to a plan each time you log in. These tips will help you regain control of your inbox and save time going forward. 1. Prepare a few templates you can personalize to respond to similar kinds of messages.  2. Reply immediately whenever possible. If you need more information or more time to write a proper reply, file those emails to a "later" folder or mark them as unread—then respond before the end of the day, so they don't pile up.  3. Create no more than three folders to manage your emails and streamline filing. Designate one folder for action required, one for a delegate (if needed), and one for archiving emails you want to keep.  4. Unsubscribe from newsletters you habitually delete or ignore – a few a day until your inbox is "clean" of unwanted emails.  5. Set up filters for non-work related messages so they land in a folder you can read through when you have time. That said, you can also try switching to another communication method. Not everything that needs to be said should be communicated through email. Issues that require back and forth should likely be dealt with either in person or through the phone. Likewise, with topics that require an immediate response. Documents that are being reviewed by multiple people should be done through Google Drive, Dropbox, or another format. This ensures everyone sees the most recent version of the document each time they open it. Create a list of the types of communication your construction company uses and develop guidelines for using them. List the circumstances under which each method of communication should be used and follow it. Be very clear about when and how those communication methods can be used. Final thoughts Email can be a productive and useful means of communication, but not if it's constantly pulling your employees' attention away from work and draining productivity. Setting guidelines for its use, finding other effective methods of communication, and decreasing the risk of distraction will help your construction employees better deal with their inbox. I also talked about Paperwork Processes particular to construction contractors early this year. Once you have a smart system for your incoming paperwork (whether physical or digital) in place, you won't feel as burdened by your inbox – and you'll have more time to spend on your construction business activities that bring in more revenue. We help a little or a lot depending on your needs. I look forward to being able to assist you with any option that best fits your construction company. About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0339, And It Will Be About 10 Hidden Construction Contract Traps And How To Avoid Them A new contractor meets an experienced customer, and money changes hands and not the way you expect it.   Typically, this is what happens when you first get started: You bid on a project, and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the project that will cause you ever to have to reread the contract.   Before it is too late, consider these traps to look out for: 1. Poorly defined scopes of work create claims and disputes. 2. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. 3. Payment terms put you in never-ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24%. 4. The customer keeps 5%-10% of the contract price as retention for up to a year or more after the entire project is finished, which could be all your profit in the project. 5. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. 6. Indemnity clauses could make you pay the customer's attorney fees and costs. 7. Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits. 8. Often the term and coverage of the warranty are beyond reasonable industry standards. 9. Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes. 10. The client's pre-printed final waiver of lien document (necessary for the contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the project. Ways to avoid contract traps: Your Construction Attorney - is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand. Scope of Work - Description in the contract is of crucial importance and a well-defined scope of work with details that outlines specific action to be performed by you, the contractor. The scope of work needs also to define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work. Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. Every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in the time needed to do the job.     Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen. Do not expect the customer to be sympathetic and allow more time for delays. It is imperative if the contract has liquidated money penalty damages for late completion. Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when Paid and paid if paid terms are ridiculous, and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember, cash is king! Retention - Instead of retention being withheld from your progress payment invoices, consider providing a warranty guaranty instead, but check with your construction attorney first!  Indemnities - Can open the door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of person, and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could bankrupt your company for something you didn't do. Again your construction attorney is the person to ask, and don't be afraid to walk away from a project. Three types of indemnities:  Broad Form: A comprehensive form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence. The 100% indemnity. Intermediate Form: An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence — the 99.9% indemnity. Limited Form: A limited form of indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim. Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name the customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage), he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also collect the legal defense of a claim because of your general liability policy for FREE! Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you an excellent reputation. However, warranties don't have to go on forever, and you don't need to marry the project; one year is about right, and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc. Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends. Dispute Resolution - Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work, provide for a senior executive in each organization to try and resolve the dispute. If all else fails, arbitration or litigation is the end, and both parties will lose. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders or bodily injury or property damage claims against your employees or property caused by the negligence of the customer, so be careful. In conclusion We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule, and a proper change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions. 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, and QuickBooks For Contractors Expert. This combination of experience and skill sets provides a unique perspective that 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 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. 

This Podcast Is Episode Number 0338, And It Will Be About Calculating Costs And The Value Of A Construction Bookkeeper   Owning a construction business means you understand that bookkeeping is just one of those mundane, nasty, dirty, aggravating, grubby little chores you get stuck with along with its rotten scoundrel cousin the Monthly/Quarterly Tax Reports.  If you have employees - look out! On top of everything else you have payroll to process, in some cases, you may decide to provide cash advances to your employees to keep them focused on the job and not on personal issues, and finally there are all the Payroll Taxes you need to keep track of and file the reports for on a regular basis. Smart Contractors know their time is more valuable spent meeting prospective clients, putting together bids, managing job sites, and a whole lot of other things other than bookkeeping. So they find someone else to do it.  Just like there are skilled construction workers and clowns trying to pass themselves off as skilled workers, there are Professional Bookkeepers and Bad Bookkeepers. You know how to tell if someone knows what they are doing in construction because you have been doing it a while. Any bookkeeping and accounting firm that does not know how to calculate complex algorithms that take into account fluctuations in the workload and generate a monthly fee that is fair to you needs to go back to school and take those courses on Decision Modeling, Statistical Analysis, and Business Process Management. All Professional Construction Bookkeeping and Accounting Services have formulas for calculating fee structures. It is not rocket science, but it does take a deep understanding of accounting: How many employees do you have? From that, we know how much time and effort it will require to process payroll and do the tax reports. What type of construction do you do? New, remodel, service, residential, commercial? From the number of employees and the kind of work you do, we know how much time and effort it will require to do all the bookkeeping, bank and vendor reconciliations, and the rest. Many of you begin with the thought: I am just a contractor. I don't want to be the business owner. I just want to do the work. That is what is important. Yes, doing the work is important. Keeping track of your hard costs, soft costs, general expenses and overhead is the difference between making a profit or having a loss. Ignoring the costs do not make them go away; it just avoids putting them on the tax return. Any missed expenses make your profit on the job look higher than it really is and causes you to pay more income taxes because all net profit is taxable. All businesses need to keep track of their company expenses, including the material and much more. Contractors usually go from one extreme (doing nothing) to the other (trying to count every bean, every paperclip, all the nails and, the scraps of 2x4’s). The balance is somewhere in the middle. Construction Company Owners Like You Need A Working Knowledge Of Business To Become Successful Customer Invoice Tracking - Knowing Who Owes You Money And How Much A proper Construction Contractor Bookkeeping System is set up to create a Customer Invoice - receives payment. Seeing the balance if anything is owed. Accounts Receivable Aging Report is one of the reports banks look at before giving you a business loan. Bankers want to know what is your volume (sales), what have you collected (customer payments), and how much do customers still owe you, and finally how long does it take you to collect. In some industries 30-60 days is standard.  Accounts Payable is keeping track of the bills owed to a supplier or subcontractor A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track the unpaid bills. Again, the banker wants to know how long it takes to pay your bills. The bank wants to get paid, and unlike the contractor who is embarrassed to call an old customer, the bank is very willing to call early and often for any outstanding payments due. Another reason to keep a proper Construction Contractor Bookkeeping System is to be sure you did not overpay a supplier or subcontractor, cell phone, the internet, liability insurance, vehicle insurance, and more. The bills keep coming and depending on your payment schedule; you may receive the past due to reminder notice before the original bill has arrived. Some utility companies have a history of what appears to be randomly sending the original bill. When you did not immediately pay the invoice, some insurance companies will mark this as late and subject you to a late charge. Based on where the Out of State payment needs to be mailed to, it may be impossible to send (by regular mail) and be received on time.  Hence – Online Payments Accepted. The benefit to The Contractor is proof the payment was made with a time and date stamp (Print) and usually an auto-generated email as backup confirmation that the payment was made.  Overpaying Sub Contractors can quickly happen if checks are written on the job site. When using handwritten checks, be sure to use “Carbon-less Checks” to have a written record of payments made. The payments than can be added to the Bookkeeping System without waiting for them to clear. The Value Of A Proper Bookkeeping System Bankers like the reports from a Formal Bookkeeping System (QuickBooks for Example)  It is easy to understand the report. Bankers can usually tell if the numbers are off because there are missing transactions, no enough income, too many expenses.  Contractor’s who do their own bookkeeping and are sometimes “Just Lost” depending on the banker they use. Whether or not you get the loan or line of credit, you are after depends heavily on the way your Financial Reports are put together. The Net Result is that the Rates and Fees charged may be higher, and Amount Loaned may be lower than expected! Local, State, and Federal Governments (IRS) City governments can require their revenue reports and payment due to Monthly, Quarterly, Annually. In Washington State; The Department of Revenue can make every contractor report and pay their Sales Tax Liability Monthly. For Companies with employees, Washington State Payroll taxes are due Quarterly. The Internal Revenue Service wants the 941 Quarterly Payroll Reports filed Quarterly. If tax liability for the Quarter is over $2500.00, then the payments are due Monthly. Larger companies have to pay their payroll tax liability at the time of each payroll. Reminder Estimated Tax Payments are due Quarterly.  In conclusion   The greatest obstacle to discovering the value of Construction Bookkeeping, which generates useful reports and being informed in time to seize opportunities and avoid disasters, is not ignorance, but the illusion of trying to save money doing it yourself or hiring cheap bookkeepers because proper bookkeeping like good construction is not cheap. Everyone fails now and then, goodness knows I have. But you don't have to take risks. Fast Easy Accounting offers bookkeeping solutions for you, outsource it, do-it-yourself, download the templates you need, and learn from our online courses, or schedule a consultation and training. You can always start over, rebuild, and go back into business again, a little older and a little wiser, and this time, you will know to seek wise counsel.   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, and QuickBooks For Contractors Expert. This combination of experience and skill sets provides a unique perspective that 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 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. 

This Podcast Is Episode Number 0336, And It Will Be About Practical Procedures To Boost Your Construction Business Profitability Cost is what you see; the profit potential is what you don't see.  High-profit construction company owner's focus on both and understand that "It Takes Money To Make Money."   Strategy comes from the office. Fieldwork is vital - labor, material, and subcontractors get things built, maintained, and repaired; however, efficient operations and fast workers who give 110% cannot overcome lousy strategy. Office and field are separate but equal. Each skill-set requires different working styles and different cultures. It is your profession as the business owner to help everyone come together and understand each other's job and how it fits in the grand scheme of things.   Successful contractors understand how and why the business cycle of construction works through implementing these actionable steps:   Examine all your processes   Take a long hard look at your construction company and list all of the recent mistakes, warranty work, rework, and time-wasters. Then develop a project plan to remove them, one at a time.    Often your office staff is working with misinformation:  - a receipt without a job, name, or address (or any note) which job it goes to - a bank statement that only shows the date the check cleared - the check number and the amount without any information regarding who it went to, why, or a job name   Office staff believes field workers are lazy and incompetent; field workers believe office staff is too nosy and wasting field workers' time. Many times field workers will bring receipts for material, fuel, permits, or something else they paid for personally to the office, expecting to get reimbursed immediately. Most of the time, the paperwork does not have the job name or any authorization from you or your management team, and the office staff is reluctant to pay it. Again field workers judge the office staff is trying to cheat them or at a minimum, playing power-tripping games.   Spend some time with your field workers. Observe how they perform their work and understand what they do and why they do it. The number of steps required to mobilize on a job site and get tools, material, and field workers in place is a process in itself.   These little delays and setbacks contribute to everyday misunderstandings, which lead to a massive decline in productivity and steep deterioration in cash flows and profits. Find and stop cash flow leaks and profit drains by examining your processes and walking a mile in the shoes of both office staff and field workers.   Eliminate paperwork   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 among the few in the seem to be "never-ending etc." Keeping important 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.   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.   Empty inventory   Empty your trucks and vans, clean out the dirt and grime, and when you restock, see how much you can leave out. This one thing can have a massive impact on cash flow and profits. If you can increase your miles per gallon of fuel from 10 to 12, you will have increased your earnings from fuel savings by 20%. Let's run the numbers:     If you stock your truck with every tool and load it to the sky with all the parts and inventory you think you may need and drive hard and fast, you are maximizing that resource, and that is not a good thing. Benefit - Hopefully, fewer trips to the supply house, Lowes, Home Depot, or other places which will save you a little bit of time and money. Costs - You will end up spending more money for each mile you drive because you use more fuel, your brakes will wear out faster from having to stop with more weight. Your tires will wear down quicker, and your vehicle suspension parts will need to be replaced sooner rather than later. You will have money that is tied up in tools, equipment, and inventory that could be invested elsewhere and make more money for you. Even worse, if you have any credit card debt or loans, that money could be used to pay them down and reduce your interest expense. Risks - If you get involved in a traffic collision and the investigation reveals that you have exceeded the Gross Vehicle Weight Rating (GVWR) of your truck or van, then it is likely your insurance may not cover the damages. Besides, you may be liable for negligence charges. We recommend you contact your insurance agent and your attorney for their advice. In conclusion The office ensures your contracting company has a steady flow of projects. Proper accounting and bookkeeping develop timely financial reports to show which jobs are profitable so you can pursue more of them, thus, you can focus more on:   Acquiring the right clients Doing the project as close to on-time and on-budget as possible Get job deposits and timely progress payments Follow-up with clients to monitor satisfaction and line up new projects The key is continuously refining your construction company's best practices and procedures. Enlightened contractors like you understand the value of developing your own unique Construction Contracting System, which is a collection of documented repeatable processes and operations manuals.   Lost and tired of your bookkeeping system? If you are using QuickBooks and doing your own books (or have staff doing it for you), I recommend you head on over to our Construction Accounting Academy site and check all the classes available to you immediately. Master the skills needed to generate useful reports, repeat quality performances, and make informed decisions to operate and grow your construction company.   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, and QuickBooks For Contractors Expert. 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 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.   

This Podcast Is Episode Number 0336, And It Will Be About Top Reasons Why Contractors Have A Hard Time Loaning From The Bank Contractors want money; banks want to lend money, what's the problem?   Think of all the times: You loaned money to a friend or relative Provided labor and material for somebody's home or business without a deposit check Did change order work that you never got paid for doing and never will Gave employees an advance on their paycheck that you never got paid back Multiply that by 100,000, and you will begin to understand why banks seem so tight-fisted about loaning money. Banks stay in business by loaning money and earning interest. They work hard to find people and companies that have good credit so they can lend money and get paid back in a timely fashion, with all of the interest due to them. Do your best to avoid raising any red flags:   Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards The financials tell the banker your bookkeeper doesn't understand Construction Accounting The preparer's signature on the annual tax returns are not from a qualified tax specialist You have no access to a construction accountant, not even for quarterly check-ups You don't have a formal documented Business Plan with a budget and projections If you find you have already raised some or all of these red flags, no worries, we can help you fix most of them. The Risk Management Association (RMA) In 1914, The Robert Morris Club (RMA) was formed to help businesses and bankers exchange credit information. It was named after Robert Morris, who was a signer of the Declaration of Independence and was believed to be the primary financier of the Revolutionary War. The RMA developed several tools, among them was a system of Ratios that we use today to study financial statements of all companies in all industries. The banking and lending industry has enormous databases and artificial intelligence software from places like The Risk Management Association that allows them to separate the excellent contractor risks from the bad ones. It generates recommendations based on complex algorithms much more complicated than any gambling casino and with a much higher payoff. One of the keys to getting a banker, lender, or bonding company to consider your construction company for financing is the way your financial statements are presented. In particular, your construction company Profit & Loss and Balance Sheet. A banker, lender, or bonding agent logs into their RMA account and fills out electronic forms, answers questions about your construction company, and inputs specific numbers in specific blanks that are taken directly from your construction company Profit & Loss and Balance Sheet. Any construction accountant worth his or her salt knows exactly how to set up QuickBooks correctly for this process to take place.  If a contractor gives their banker, lender, or bonding agent a set of financial reports that do not conform to the RMA requirements, they may or may not try to extrapolate the numbers need using Excel or some other program. In most cases, they are very polite and thank you for "applying" before giving you the "We will let you know as soon as we know anything" speech. I know this because I have heard it from many bankers, lenders, and bonding agents who are frustrated because they know you are a good client and they know you are a person of integrity that can be trusted to pay the loan back, on time, with all of the interest. The RMA and other reports show where your contracting company stands concerning other contracting companies serving similar geographic and demographic markets. Each major category, Sales, Cost of Goods Sold, Overhead, Other Expenses, and Other Income, are rated on a scale of top 25%, middle 50%, and bottom 25%. Ideally, all of the numbers on your Profit & Loss and Balance Sheet falls somewhere in the middle 50%. Whenever a contractor "forgets" to declare all of their income or "overstate their expenses," it will show up here as a red flag. Finally, a Z-Score is compiled, which is a formula for predicting bankruptcy. Edward I. Altman published it in 1968. The formula may be used to predict the probability that a firm will go into bankruptcy within two years. Although not 100% accurate, it is a useful tool, similar to a tape measure, not 100% accurate yet still useful. This is why sometimes a contractor with excellent credit cannot get a loan or line of credit, and yet another contractor with only good credit can get financing. And finally, here are the top 10 Reasons why construction company owners might have a hard time securing bank loans: 1. Current Ratio A ratio of cash on hand to accounts payable of less than 1:1. Ideally, this ratio should be 2:1 or 2.5:1. 2. Bill Paying History Poor payment records, judgments, liens, bankruptcy for the firm, or principals on credit agency reports. 3. Unpaid Taxes Make sure your payroll taxes, income taxes, sales taxes are paid, and you have cash reserves in a separate bank account. 4.License Issues Unlicensed contractors and those with expired licenses are a huge red flag! Don't do this! 5. Bonding Issues Contractors who can't get bonded or if your bonding capacity has been cut or your current bonding company refuses to renew it figure out why and get it resolved quickly. 6. Financial Statements Profit & Loss and Balance Sheet - not current, formatted wrong or worse yet you feel the need to explain them. 7. Job Status Reports List of current jobs you are working on with a breakdown of how much you have in job deposits vs. how much you have spent. In other words, are you in competition with the bank by lending your customers and clients money in the form of Labor, Material, and Subcontractors which is precisely what happens when a contractor does not keep getting draw checks against work that has been done and has at least a 10% residual. 8. Customers Vs. Clients Everybody is your customer, which means you have no clients.  Bankers and lenders may ask you to describe the people you work for and if you start the conversation talking about your Customers they will presume you are one of those contractors stuck in your "Do-Gooder Phase" where most people enter in their 20's and grow out of in their 30's; doing lots of work for friends and family who are "On a Budget" and persuade you to work for FREE or even less! Study your Job Profitability Reports and determine who your Prime Client is and begin to understand the Difference Between Customers And Clients.  9. Working On Jobs Outside Your Area Of Expertise If you are a residential remodeler and darn good at it, don't fool yourself into thinking, you can just as quickly be a spec home builder or worse yet someone who can work on commercial tenant improvement projects. The skills, tools, specialty contractors, and workflows are different for each of these areas. 10. Working On Jobs Outside Your Geographic Area Windshield time kills profits! The only people who make money on windshield time are the construction workers. Sharp bankers and lenders will ask about this one. Make sure you have Job Profitability Reports to show why you are working outside your geographic area. Your geographic area will depend on the contracting work you do. Consult your construction accountant, and your Job Profitability Reports to help you determine what makes sense. In conclusion Hopefully, you have gained some insights into the banking, lending, and bonding industry. I strongly suggest you get your contractor bookkeeping into the hands of someone who understands the difference between construction accounting and regular accounting and put together a Board of Advisors so that you can get your construction company on track to make you lots of money.   Lost and tired of your bookkeeping system? If you are using QuickBooks and doing your own books (or have a staff doing it for you), I recommend you head on over to our Construction Accounting Academy site and check all the classes available to you immediately. Master the skills needed to generate useful reports, repeat quality performances, and make informed decisions to operate and grow your construction company.   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, and QuickBooks For Contractors Expert. 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 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. 

This Podcast Is Episode Number 0335, And It Will Be About The Scientific Remodeling System   Today's Guest Article Is From David Hawke and Randall Soules A real remodeling system designed to generate more wealth with less work. I know it sounds like a cliché, and possibly even far fetched, but in this podcast episode, you’ll hear how this system came to exist and what gives its users the path to more wealth with less work. That said, success is not a guarantee. It does take work, but if you have the desire, the Scientific Remodeling System will give you the systems and processes needed to not only thrive as a remodeler but also have the money and freedom to enjoy a personal life with friends and family. Remodeling contractors are a rare breed. Typically they are tradespeople who make the jump into a business owner. They are very tied to the outcome of each project and love the feeling of giving life to the space they’re working with.  It’s as much an art as it is business. And that is why it’s difficult to implement systems. The passion put into each project takes up most of the time available, and any time left over must be allocated to employee issues and the multitude of other tasks required to stay legal and operational. While most will agree, systems and processes would definitely help alleviate the daily issues remodelers face, from employees, subcontractors, and even clients. However, taking the time to create the processes needed would take away the remaining few hours left for family, friends, and sleep. It’s a difficult choice. Enter the Scientific Remodeling System, built and refined over a 34-year remodeling career selling to high-income clients.  Randall Soules (creator of the Scientific Remodeling System), decided early on he wanted the freedom to spend quality time with his wife and children, and he wanted to be financially free enough to do things like taking a three-week vacation in Hawaii. His business ran the spectrum of remodeling, from commercial projects with employees and crew to building custom homes and eventually into a 100% subcontract labor force, specializing in high-end home design-build remodeling projects. Now, he’s handing his years of experience and all of his systems to remodelers who want more. From:  Selling by establishing yourself as the contractor the client wants to work with Seamlessly handing off the job to production Production efficiencies The cashflow payment system The profitable warranty system Contractor marketing And much more… If you have an interest in running a more profitable remodeling business, and to have more time to enjoy your private life, Randall Soules is offering a free demo of the entire Scientific Remodeling System. (Or you can also copy and paste this on your web browser: https://scientificremodelingsystem.com/schedule-a-30-minute-demo/) We look forward to helping you advance your business and improve your life! About The Authors: David Hawke is leading service-based companies through the digital selling process. He's a Building Brand Authority, Author, Speaker and can be found on LinkedIn.         Randall Soules is one of 6 children of missionary parents to Brazil. He had no experience with carpentry until the age of 23, after three years of trying his hand at Mechanical Engineering at the University of Virginia. He has always enjoyed working with his hands, and M.E. didn’t cut for him. He started as a laborer and worked his way through the carpentry apprenticeship program, winning the City and State Apprenticeship Contest, and going on the National Contest in Las Vegas. He started his own company, Soules Construction in 1978, doing anything he could to feed his wife and two boys. He quickly made a name for himself in the city of Chattanooga. In 1985 he merged with another company and started Ardis and Soules, Inc. It was in this company, running at times five crews, that he created simple, effective systems to navigate the complex field of remodeling. His company moved into high-end design-build remodeling, becoming the go-to company in the city. He retired at the age of 60 and now spends his time podcasting, writing, and creating content for his membership site,the Scientific Remodeling System.

This Podcast Is Episode Number 0334, And It Will Be About How To Make More Money In Construction With SWOT Analysis   Developing a comprehensive strategy for your construction business can be about as much fun as wrestling a pig in the mud because: It is slippery and hard to get control over it. It will wear you out and frustrate you to no end. You will swear it is a complete waste of time. Your contractor buddies who are barely making a living will think you're crazy. In the end, you will be thoroughly worn out, exhausted and mentally drained. What separates wealthy contractors from poor contractors? It's not a lack of opportunities to bid jobs or get leads because getting leads is easy. It's not lack of ambition because every contractor I know is active and ready to get busy. It's not a lack of intelligence or the ability to develop a production method and follow it to the end. It's not lack of money because if you follow my process, you know how to overcome that using O.P.M. (Other People's Money) The answer is simple, but not easy: 1. Wealthy contractors begin with the end in mind and knowing what to do ("The Seven Habits of Highly Effective People"). Everything is created twice. First, in our minds, and when we do the work to bring them into physical existence. Take your power and take control of your ability to Be-Do-Have. You can re-write your scripts and take control and responsibility for the outcome of your Construction Company by using your imagination and conscience. The three major aspects of personal and business management of your contracting company: Leadership - What do you want to accomplish? Management - How can you accomplish it? Productivity - Decide to do it. Management is doing things right; leadership is doing the right things. - Peter Drucker and Warren Bennis Have a vision of what your Construction Company Money Machine will be when you are finished building it. It will be like a deep, wide river running smooth and calm moving millions of gallons of water through lush green valleys where farmers and ranchers pump the freshwater into their crops and fields to feed their families for a lifetime and beyond. Your Construction Company Money Machine will be moving millions of dollars from customers and clients through lush green valleys where you will pump cash flow into your bank and investment accounts to feed your family for a lifetime and beyond. 2. Wealthy contractors understand who they are and what they believe to be true. Your perception is your reality, and the truth is four levels deep. To get to the truth about your construction company, you must go on a journey. It is four levels deep, and like most successes in life, it is simple but not easy.  Level One - What contractors want to hear Level Two - What contractors want to believe Level Three - Everything else Level Four - Truth A Story To Illustrate The Four Levels What contractors want to hear - One evening after work, a group of contractors met at the Contractor Business Round Table, which is the neighborhood tavern with a round table, pitcher of beer and four contractors. They talked about how tough it is to get profitable jobs, no matter what the economy is like. When times are good, it is hard to find employees, when times are tough, the phone doesn't ring. Everyone agreed there was nothing anyone could do about it. What contractors want to believe - A short while later they talked about making money, and agreed that big-time contractors make most of the money and little contractors were doomed to struggle. Everything else - One of the contractors suggested maybe they could ask one of the larger, more profitable contractors and find out what they did that made the difference. This made the other contractors a bit uncomfortable. Then it happened, and they all heard and felt the dreaded Snap-Crackle-Pop! The contractor who suggested asking for help experienced a paradigm shift and broke through to the other side. This contractor began leveling up! Suddenly they all remembered what The Contractors Accountant, Randal DeHart, had said about leveling up. "As you develop your Business Strategy, your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different." Truth - Is whatever you believe, and you will look for evidence to support your truth. Part of my truth comes from some of the writings of Og Mandino, The Salesman's Prayer, with one of my favorite lines: "I ask not for garments or gold or even opportunities equal to my ability; instead guide me that I may acquire ability equal to my opportunities." 3. Wealthy contractors know what type of contracting they are good at doing. SWOT  is one of the tools we use in strategic planning for construction companies to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in determining the particular target market. Strengths - are projects that your construction company does exceptionally well at and earns a higher than average gross margin that gives you an advantage over other contractors. What are they and how can your construction contracting company expand on them? Weaknesses - are projects that your construction company does poorly at and breaks even or loses money. What are they and how can your construction contracting company turn them into strengths? Opportunities - are projects and markets not currently being served where your construction company can enter and turn them into strengths. Threats - are elements outside your construction company that could cause trouble for you or your construction projects. What are they and how can your construction contracting company turn them into opportunities? 4. Wealthy contractors know how to generate more leads than they can handle. Now, you can quickly generate more leads than you can handle because in the previous three steps you laid the foundation by having a vision for what your construction company will be when you finish building it, you know who you are, and you know who your Prime Client is. Would you like to start evaluating your geographic and demographic target markets and develop strategic plans to increase your company sales, cash flow, and bottom line profits? Focus on a few Key Strategies that require the least amount of effort and generate optimum sales cash flow and earnings for your contracting company by taking our SWOT Analysis class. SWOT Analysis is one of our first 12 classes launched in our Construction Accounting Academy. In conclusion Every once in awhile, someone with this knowledge breaks out of the pack and uses the knowledge and experience to become a wealthy and successful contractor. Be the contractor who will do whatever it takes to rise above owning a job and develop a construction business that will provide for themselves and their families for a lifetime. 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, and QuickBooks For Contractors Expert. 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 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.   

This Podcast Is Episode Number 0333, And It Will Be About Why High Demand Doesn't Always Equal High Profit In Construction   The business cycle operates like ocean waves that cause a lot of construction business to go out in a year or two. Some grew too fast without reliable financial reporting tools and proper guidance.   As you may know, there is an expansion and contraction Isoquant that occurs in all businesses. For construction companies, it is accelerated because of the enormous risks in project work. The changes in demand for Labor, Material, Other Costs, Subcontractors can occur almost overnight which often causes a financial death spiral, and the contractor does not know they are in trouble before it is too late.   We have discussed time and again that construction accounting is different from regular accounting because of the confusion between Costs of Goods Sold and Expenses, and that is one of the significant issues here. Also billing and invoicing is a bit more complicated because the sales are not usually one receipt or invoice. When the economy is expanding, demand for construction balloons rapidly and almost overnight construction companies phones are ringing off the hook as demand outstrips supply because so many contractors gave up and left the industry. Unseasoned hungry contractors try to seize the opportunity to grow their businesses rapidly and haphazardly by bidding on any project that is given to them. They end up winning a large share of projects without giving any thought to calculating their company Expansion Path Isoquants, infrastructure, logistical support, working capital requirements, The 80 20 Rule For Construction Businesses, Job Costs, and Key Performance Indicators (KPI). When the tangible world of things that can be seen, smelled, touched, tasted and felt is given disproportionally more value than the intangible elements which cannot be experienced in the physical world like bookkeeping, taxes, payroll, cash flow, bank balances, job costing, job profitability - the business is heading for trouble. The inevitable chaos caused by too much work and not enough resources leads to the contractor becoming a pipe through which money flows with increasing velocity, and not in a fun way. Unfortunately, many contractors become victims of their success and discover too late the value of the intangible needs of the company. Take for example: The construction company starts small; the owner is a visionary who understands the "Tangible" side of the business. They know how to bid, sell, produce, and manage the company as it grows to roughly $5,000,000 in annual sales without having a clearly defined Business Process Management System or Strategy. When they take their business to the next level not having a strategy or as I refer to it the "Intangible" side of the management equation, they often end up going bankrupt, several times in most cases, before hiring us or someone else to help them put together a strategy that includes the "3 P's" Processes, Procedures and Policies. It has been said, "The same law that binds the ignorant frees the wise." One way to handle your "intangibles" is taking care of your resources - Labor, Materials, Other costs, and Subcontractors (LMOS). We are actively involved in teaching the benefits of our LMOS system and how to incorporate it into best practices for businesses.  We conduct training on how to use our LMOS system on our podcast, as a guest on other podcasts, participating in seminars, and online conferences. LMOS helps construction companies get a better understanding of costs. Without LMOS they have one large cost bucket for every cost code. With LMOS they can review the costs at a granular level and know when it is best to: Perform work with in-house Labor vs. Subcontracting. Buy Material locally vs. ordering it online. Use Other outside services to provide plans and permits. Subcontract outside services vs. investing in tools and equipment rarely used. In our Construction Accounting Academy, we have a class devoted entirely to teaching our LMOS system. It goes into detail how to set up LMOS in QuickBooks desktop.  In conclusion Contractors who plan accordingly can break free of the limiting thought patterns that corrupt the mind, especially when the business is doing poorly. Proactive construction companies are not only recession-proof but also demand-proof. Invest not only your money but also your time in learning the critical construction accounting principles. 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, and QuickBooks For Contractors Expert. 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 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. 

This Podcast Is Episode Number 0332, And It Will Be About What Every Contractor Needs To Know About Payroll Processing   When it comes to paying employees, laws and the IRS, have made the payroll function a time-consuming nightmare for the small business owner.   Small business owners spend an average of eight hours a month performing payroll functions. That's 12 full days a year that could be spent generating sales, prospecting new business opportunities, improving products or services, or servicing customers.   Getting time cards input into QuickBooks and processing payroll can be a big hassle for your construction company.   Employee advances and loans that you forget to deduct can drain away your entire profit. Timecards come in late causing payroll to be under enormous pressure to meet direct deposit deadlines. Tracking employee bonuses, reimbursements and garnishments take time and money and can cost your company some serious fines, penalties, and lost productivity if not handled correctly. Why Outsource Your Payroll It's Cost-Effective Use your staff more efficiently by letting us handle payroll and the associated legal details. Reduce overhead by removing the need to hire specialized employees.  It's a Time Saver Our payroll service eliminates the burden of customizing, updating and maintaining your payroll system--no more data entry, no more researching updates or new laws, no more worries.  Worry-Free Payroll Tax Filing Eliminate the risks of calculating and filing your payroll taxes by having professionals do it for you. Federal, state, and local payroll tax laws are frequently changing and becoming more complex. How much time do you want to spend learning all the rules and keeping your information up to date? Allows You To Focus On Core Competencies Our professional staff will enable you to focus on the core competencies of your business. We are accounting professionals--you get the experts working for you and with you. Comprehensive Reports You get a wide variety of user-friendly and accurate payroll reports. For a nominal fee, we will include union reports, certified payroll, workers' compensation reports, and much more. We know that when it comes to payroll service - no one size fits all.  We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best - running your company. The best part is you decide when to release your payroll checks. We do not touch your money! We can process the payroll for direct deposit; you can print them on your office printer, we can print them for you in our office, YOU MUST BE PRESENT, you can handwrite them from the paystub we send you, whatever is best for you!  In conclusion As we have been where you are now, we know for a fact that as construction business owners, you are selling your time first and your skill second. Your time as the contractor is the most valuable, so I hope you are doing tasks that only you can do. Yes, you can do bookkeeping and payroll processing, too. My question is: Why would you? Spending hours doing your books will not solve your paperwork issues, it will only take time away from the things you do that make you money. About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]

This Podcast Is Episode Number 0331, And It Will Be About Build A Construction Accounting System That Works Best For Your Company   Construction is a tough business, and people failure is common. 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. Some lessons we already took note of years ago, having owned and operated 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.    We are deeply passionate and committed in the construction industry that we want to support you, our clients and readers, to achieve your definition of success. Whether you're a contractor, owner, spouse, a business professional, bookkeeper, or accountant; we understand your frustrations because we've been where you are now, and we're here to help.   Introducing Construction Accounting Academy   Fast Easy Accounting's online learning platform is the answer you've been looking for. Through the self-paced courses taught by The Contractors' Accountant, Randal DeHart, you can focus your time and effort in gaining knowledge and understanding of construction accounting concepts particular to your needs.   We have proudly produced 12 classes in our initial launch with more to come in the following weeks. Each course was designed for QuickBooks users from all levels - Beginner to Experienced. Our goal is to provide the student with suitable and useful information to build a construction accounting system specific to their type of construction business and company role.   Click each course name to learn more/enroll:   Ultimate Job Costing Solution For Contractors   Develop a cost library of work packages. Gain a competitive advantage by investing your time, energy, and resources to build and maintain one properly. Access to your job history can help you accurately calculate future jobs.   Land Developer Using QuickBooks Desktop   Analyze Work-In-Progress reports. Unforeseen cash flow issues can lead to construction delays, business, and personal bankruptcy. Make use of WIP schedule to keep track of your projects and percentage of completion.   Five Key Performance Indicators For Contractors   The five reports you review at 5 PM for 5 minutes will help you assess your business performance. Start making informed decisions and optimize the future of your company through the KPI approach and best practices.   Spec Home Builder Using QuickBooks Desktop   Set up cost codes and get rid of your poor Spec Home Builder Accounting system once and for all. Establish a breakdown using Labor, Material, Other Costs, and Subcontractors (LMOS).   Land Developer And Spec Home Builder Using QuickBooks Desktop   Without proper tracking and matching of income and expenses, you'll never know if you made a profit until the job is over. With long business cycles, and huge construction expenditures, most land developers and spec home builders feel there is never enough money to cover the costs.   The chaos of day-to-day operations, economy change, compliance issues, new regulations, natural disasters, and several other factors that are beyond control are potential risks to one's business.   Start building a process-dependent system and set up your QuickBooks Desktop account to work for your Land Developer and Spec Home Builder Company.   Contractor Bookkeeping In Ten Minutes A Day   Accurate bookkeeping matters. Your construction company's financial health relies on correctly recorded transactions and data. A proper bookkeeping system can help you stay on top of your debts, figure out where your profits and losses are coming from, prepare you for tax season, and brace your company for potential growth.   Job Deposits In QuickBooks   Master the process of setting up, requesting, receiving, reporting, and applying Job Deposits in QuickBooks and take the stress out of generating a report to see who has deposits and balances. This class will teach you how fast and easy it is to set up Job Deposits in QuickBooks. Once your client signs the contract, you'll be empowered and confident to request for upfront payment.   What Is Job Costing For Construction Contractors   QuickBooks needs to know a lot of things to produce the reports you need. Realizing what you don't know and want to know more about your business is the first step. A properly set up QuickBooks file is the key to generating useful and timely financial reports. Start by learning the basics and discover how easy it is to make more money with Job Costing.   Set Up And Track Retention In QuickBooks For Contractors   Motivate your subcontractors to complete the project on time and within budget and give your clients peace of mind by preparing a retention plan for them. Quickly and easily manage your outstanding receivables by taking advantage of the Collections Center features in QuickBooks Desktop, make changes as needed, and send an email for balance dues.   Owners Time On Jobs In QuickBooks For Construction Contractors   Labor is hard to estimate. Contractors like you are not always aware of what you are giving away - and that includes Labor. A correctly set up QuickBooks file is the key to generating useful and timely financial reports. Start by learning the basics and discover how easy it is to make more money with Job Costing by tracking the owner's time on jobs.   SWOT Analysis Of Your Construction Company   The pressures of owning and operating a construction company can be, at times, almost unbearable. Unlike any other business, there's no "one size fits all" solution in your toolbox that can fix your dilemma. Improve your productivity and bring in more cash flow to your firm by finding wealth in what you do best. Work smarter, not harder! Discover how SWOT Analysis can give you the life and freedom you've dreamed of when you started your construction company.   LMOS Cost Codes For Construction Contractors   Determine the cost of construction down to the granular level, run analysis, and know which Cost Code tasks can be done in-house (Labor) and which ones can be subcontracted (Subcontractors). The same concepts applied to (Other) costs like permits and getting materials to the job sites (Material). Start incorporating LMOS to your accounting system and get a better understanding of your business. Take this class and set up your QuickBooks Desktop to work for your construction company.   As with every type of business, having the right tools can help you work efficiently and effectively. The key to your business profitability lies in the understanding of the critical concepts of construction accounting. Now that the tools are available online and accessible 24/7, it's now up to you to leverage the power of knowledge and put it into action. Please feel free to download all the Free Forms and Resources that you find useful for your business.   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. Call 206-361-3950 or [email protected]

This Podcast Is Episode Number 0330, And It Will Be About Fast And Easy Contractor Networking Profitable contractors attend networking events not because they have nothing better to do; they do it because it pays off. You can either spend hours doing office tasks like bookkeeping or getting face to face with someone who may need your services. Meeting people gives you the chance to build and develop relationships, hire you, or refer you to someone who might. Most of our contractor clients work alone or with a small team, making connections vital and refreshing to meet other professionals doing similar work. Although not every networking event is going to yield a harvest. You might end up learning about all kinds of needs and opportunities about everything under the sun except what you came for - qualified construction leads to support your business. However, this is another path to cultivate and harvest repeatedly. As an example: A home builder learns about a commercial tenant improvement contractor who needs bookkeeping services, and he refers us. While working with the commercial tenant improvement contractor, we find out they need a concrete contractor, so we refer one of our clients. While the concrete contractor is installing a backyard patio for a new client, they happen to mention needing a builder. The concrete contractor asks the commercial tenant improvement contractor to pass the lead on to the home builder, and the circle is complete. How Do You Get Started? Join local trade organizations like Master Builders Association, ABC Contractors, National Association of Home Builders (NAHB) and other organizations that represent your particular target market. We favor Master Builders Association because they cater to our target market. Before joining, develop your strategic objectives, for example: Clearly define your target market - demographics and psychographics. Prepare your elevator pitch - a brief introduction on who you are and what you do or specialize in. Contact information - carry your brand by handing out company cards to potential business contacts. When you join, find ways to serve the organization and the members, participate by: Attending meetings Joining committees Volunteering Becoming a team-player Getting involve in activities Identify Power Connectors and Referral Partners: Architects Designers Realtors Others Power Connectors are the people who know everybody or at least it seems like it because their name comes up in conversations everywhere. Those are the people that you need to get to know, and when they attend an event if at all possible, you need to be there. It will take time to capture their attention and gain their trust. When they know you, like you and trust you, they can have a massive positive influence on your construction business.  There is a synergy that develops where everyone knows it is a safe place to share your dreams and ambitions. Sharing ways to expand your construction company, gain more customers, get sound advice about financial management, support for writing articles, or a book or perhaps developing a speaking career. It is excellent because you are among people you admire and respect who will offer a hand-up without forethought of personal gain. To develop a valuable network is simple but not easy. With internet connectivity comes your online connections, as well. You must become highly skilled at identifying and adding the right people to your network and find ways to make more deposits than withdrawals. When someone invites you to join their social media group, check and see if it fits with your core values before accepting. There is a popular phrase - "It is who you know that counts," which I disagree with because we all know a great number of people on varying levels from casual encounters to deep intimate personal relationships. Here Is My Version For Construction Business Owners: It is not what you know It is not who you know It is who knows you - that is what counts. When Power Connectors know you, it's more valuable than silver and gold; they are the core of your network. They are the people who know, like, and trust you. Nurture and build your relationships with them by adding to each other's emotional bank account. They are the people who know you well enough to answer your phone call at three o'clock in the morning. That is what counts. In conclusion Construction is a relationship business, and trust is everything. Networking is not rocket science - it is a lot harder because you are dealing with people. With rockets, if something goes wrong, you learn what not to do the next time. With people when something does not turn out as you expect, it is much more complicated, but with the proper association can work to your advantage. 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, and QuickBooks For Contractors Expert. 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 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.   

This Podcast Is Episode Number 0329, And It Will Be About Ways Your Construction Company Can Spend More Now And Save You Money Long-Term During my lifetime, I have seen too many contractors work hard, never have enough money to retire. Some of them die from exhaustion, and others just wore themselves out and lived their final years in poverty and only a few, less than 5% ever made enough money from owning and operating their construction company and outside investments to retire early enough and enjoy a comfortable lifestyle.   This article is a bit strong, and it could offend some folks. If it offends you, please accept my sincere apologies. I tend to tell it straight and not sugar coat anything because I have been involved in the construction industry most of my life beginning with working in my Step Father's construction company after school in the mid-1960s.   In an attempt to save money, the cheap contractor ends up spending the most money and earning a tiny profit because they believe in maximizing than optimizing. In the short run, maximizing can payoff; however, in the long term, it never does. Here are four ways you can spend more now and save money in the long-term: Vehicle If you stock your truck with every tool you think you may need, and load it to the sky with all the parts and inventory you think you may need, and drive hard and fast you are maximizing that resource, and that is not a good thing. Benefit - Hopefully, fewer trips to the supply house, Lowe's, Home Depot, or other places which will save you a little bit of time and money. Costs - You will end up spending more money for each mile you drive because you use more fuel, your brakes will wear out faster from having to stop with more weight. Your tires will wear down quicker, and your vehicle suspension parts will need to be replaced sooner rather than later. You will have money that is tied up in tools, equipment, and inventory that could be invested elsewhere and make more money for you. Even worse, if you have any credit card debt or loans that money could be used to pay them down and reduce your interest expense. Risks - If you're involved in a traffic collision and the investigation reveals that you have exceeded the Gross Vehicle Weight Rating (GVWR) of your truck or van then it is likely your insurance may not cover the damages. Besides, you may be liable for negligence charges. We recommend you contact your insurance agent and your attorney for their advice. Spend the money and choose the right vehicle for your needs. It should match the needs of your company without putting yourself and your business at risk. Tools And Equipment Construction workers who take pride in their work produce better results with fewer repairs if they have quality tools and equipment. Cheap tools and equipment cost a lot of time and money that you cannot see - out-of-sight means out-of-mind. Invest in the best that you can afford taking into account the Total Cost Of Ownership instead of the price. Make more money with productivity gains. See the chart below:      For Example - Your best construction worker asks for a tool: It costs $1,200.00 It will save ten minutes a day in labor It will last 3 years The standard response is the company can't afford it!  QuickBooks Desktop Most contractors try to make QuickBooks Online work - that is a recipe for disaster. QuickBooks Online is an excellent product for many companies, but not for construction. The primary reason is that contractors are one of the few companies that pack their entire company into trucks and vans and drive it to their customer's location. Then they put together a custom-built product which means the margin for error is enormous, and break-even calculations are a moving target and can only be done in a properly Setup QuickBooks File Designed Specifically For Construction Accounting. QuickBooks Desktop Version has been around since 1991, and it has improved at a stable pace that contractors and accountants can keep up with. For the past several years our contractor clients have enjoyed having access to the tried and true QuickBooks Desktop version in a Cloud environment. QuickBooks Online is a great program for small companies including some non-profit organizations, but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales. Most construction companies started using QuickBooks Online, so they could get to their QuickBooks Pro or QuickBooks For Contractors file anywhere they have internet access 24/7. We can move your QuickBooks Online file into our private cloud server and provide you with the full power of QuickBooks Desktop version in the cloud. Bookkeeper Don't hire the cheapest bookkeeper you can find. Almost anyone can indeed do bookkeeping because 95% of it is boring and only 5% is sheer terror. However, when the regular bookkeeper attempts to do construction accounting that is like watching a naked person, covered in honey getting into a fight with a grizzly bear in the woods; it never ends well. Until your construction company reaches at least $5 million in annual sales you cannot afford to hire a qualified bookkeeper or construction accountant full-time to put on your accounting staff because there is no such thing as a part-time qualified bookkeeper or construction accountant. For Example - You Hire someone with bad habits, which is a Cheap Bookkeeper part-time at $15.00 an hour for 10 hours a week thinking you will save money. The problem with that is you may not understand the actual cost to have them on your payroll, including overhead, is closer to $25.29 per hour. See the chart below:   Every Ten Minutes A Day Of Unproductive Office Labor: Every Ten Minutes Your Bookkeeper Wastes Costs You Money! Could Cost Your Company $273.93 Every Year At 10% Profit You Need $2,739.30 More Sales To Maintain Profit Margin It may seem harsh to survive and thrive as a contractor, you must make sure your employees are focused on their job during the time you are PAYING THEM TO WORK! You must do whatever it takes to enforce the rules of engagement for producing results at your contracting company or be prepared to work for some other contractor and live under their rules. In some cases we can do more work for less money by providing you with real construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year-end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more at a lower overall cost and as a bonus show you how to make more money than you are making now! In conclusion Highly-profitable construction company owners ask their construction accountant to calculate the projected Return on Investment (ROI) and then consult their Strategic Business Plan to make an informed decision. Spending more now can save you more money in the long run as long as you know where and how to spend it. 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, and QuickBooks For Contractors Expert. 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 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.      Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not?    

This Podcast Is Episode Number 0328, And It Will Be About 5 Things Your Construction Bookkeeper Wants You To Know If a Contractors Bookkeeping Services System doesn't work and they want it fixed but will not allow any changes, they need a magician, not a construction bookkeeper. Our workflow removes paperwork frustrations only if the contractor is also willing to do their part. It hurts when we have to let a contractor client go elsewhere because we are not able to help them. We sincerely believe we can help all contractors have more freedom, by earning more money, working fewer hours and sleeping better at night by taking the pressure off their bookkeeping so they can focus on financial reports and job costing reports, instead of data entry. In a few rare cases, contractor clients have wanted specific financial and job costing reports, but they flatly refused to allow us to make changes in their contractors bookkeeping services system which would have made it possible. We understand they are operating from a primeval survival instinct of "Fight or Flight," which means these good people are reacting to circumstances rather than responding to them. People have a significant advantage over other inhabitants of this planet in that between stimulus and response there is a space, and in that space is the opportunity to choose to stop, think, evaluate and then respond. In many cases, contractors have spent the day with one of us and just talked it all out. Having someone who cares enough about you as a person and understands what it is like to own and operate a construction company, who pays attention to you and shows respect by turning off cell phones and other interruptions and just listens and makes a sincere effort to understand you and what you have to say without judging or offering solutions or attempting to sell you something may be just what you need. Often that is all it takes for a contractor to get clear about the direction they need to steer their construction company. There is a reason you were called to join the ranks of the family of construction company owners, and sometimes in the middle of it all, you tend to forget that. Once you re-connect with your purpose, it can be a great awakening which can lead to momentous accomplishments. Here are the five valuable insights, we (your construction bookkeeper) want you to know: 1. We cannot help the good men and women who insist on using QuickBooks online. QuickBooks Online appears to work well for many industries, but construction is not one of them. Don't expect to get all the same financial and job costing reports they can get from QuickBooks for contractors desktop version. The issue is having access to QuickBooks For Contractors desktop version online costs a few dollars more. These same contractors know better than to buy low-cost tools and designed for homeowner's weekend fix-up projects and expect to use them in their construction company. 2. We cannot help contractors with unreasonable expectations. For instance, bringing your construction accountant an Excel sheet or piece of paper with grand totals for sales, expenses and net profit without any supporting documentation and expecting us to put it into QuickBooks for Contractors and generate financial reports. 3. The bank does not know and will not know all the details. Downloading transactions from the bank works well for a lot of industries; but not construction. There are many different places transactions need to be coded to. Expecting the bank to know which item, schedule of values, account, customer, job name, job costing account, work-in-process account, direct and indirect cost account, expense account, liability account, asset account, split transaction account or other income and expense account each transaction needs to go to is not going to happen. Chaos from paying vendors online and expecting the bank to know which bill, accounts payable, item, schedule of values, account, customer, job name, job costing account, or other income and expense account each transaction needs to go to is also not going to happen. 4. Contractors who cheat on taxes lose in the end. From several decades of experience and observations as construction accountants serving contractors all across the USA including Alaska and Hawaii, we have proof that contractors who cheat on their taxes lose out on enjoying big cash flow and profits in the long run. Their financial statements give lenders and creditors the impression they do not know how to run a Construction Company, which in most cases is false! However, to protect themselves - the banks, credit card companies, vendors, suppliers, car and truck financing companies require big down payments which hurts cash flow even more and to add insult to injury they charge higher interest rates and steep penalties for late payment on loans and lines of credit. What happens next is a predictable chain of events, as shown in the image below:   5. Listen to our technology recommendations. Successful contractors adapt to change and optimize technology advancements in their business processes. We embraced reduced dependency on people by automating our systems. Cloud Backup, Time Card Calculator, Cloud-Based Financial Reports, and Online Bill Payment and Customer Invoicing are some of the services we offer to streamline your unique bookkeeping needs. We help you implement the right technology for your business to operate and grow your construction company. In conclusion As a non-employee, we can give helpful, honest advice to improve your procedures and overall efficiency. The good news is over the years several contractor clients that we have parted ways returned a while later. The most common reason given is that something clicked in their head and they realized that other trusted sources were validating everything we said. We do not have all the answers, just a few important ones that seem to work well for contractors. We have been where you are now and care about you and your construction company.   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, and QuickBooks For Contractors Expert. 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 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.      Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not?  

This Podcast Is Episode Number 0327, And It Will Be About Proven Reasons Why Contractors Lose More Money Doing Their Books As a construction or trade contractor, you are highly skilled, intelligent, and adaptable. That is a given because you operate in a multi-faceted changing environment doing the impossible with limited time, money, and resources on every project. Moreover, soon as one is finished, another one is waiting for you.   Many contractors like you feel that hiring a Professional Contractor Bookkeeping Service is a waste of money when you should be able to do it yourself. You press a few keys on your keyboard thinking you are going to get the results you want, accurate bank balances, a report showing who owes you money and who you owe money to, a Profit and Loss Report and Balance Sheet Report you can understand and if all goes well perhaps even some Job Costing Reports. Instead, what you get is a hot steaming pile of fertilizer that cannot even be used in the garden.   The DIY (Do-It-Yourself) approach is one of the traps every contractor who is financially struggling falls into because as contractors, we don't believe in asking for help until we are in deep trouble. We find it hard to trust experts because they cost too much, and most do not understand how construction works. In the end, hiring a QuickBooks Expert in Construction Accounting can prove to be not only beneficial but a safer option. After all, what makes a homeowner or businessperson call an expert contractor like you instead of working on their own construction project? You have the skills, expertise, and experience about how construction projects are done. You know how to bid jobs, collect money, coordinate labor, material, subcontractors and other things needed to get work done, and in the end, you will have saved your customers and clients time, money and frustration. Here are five reasons why contractors like you lose more money doing your bookkeeping: 1. Figuring out the right bookkeeping/accounting software for your business The only way to do it right is to make sure you start it right. Using a particular software depends on the kind of contracting business you have, what you need out of it, and how much time you are willing to devote to learn and use it. Keep in mind that using more popular and in-demand software and applications have a significant advantage in case you are having some issues. Technical support should be readily available, and if not, a quick Google search can lead to video tutorials and community forums. Buying an accounting software or being locked-in for a year's subscription of a cloud service that doesn't particularly align with your company's goals is not cheap. Not to mention the hours you've dedicated to learning and on-boarding your office team will prove to be costly once you realize all the effort you put in won't make any sense because you have the wrong tool from the start. 2. Proper Invoicing When a construction project grows beyond two invoices, and you add job deposits and change orders, the process gets tricky. For instance, there is no "magic button" in QuickBooks that will generate a complex invoice that makes sense to your customer. You need a proper money trail from beginning to end in a way that everyone can understand and appreciate, which means you get paid faster, with less hassle, and your clients will love you for it. Doing it wrong could mean you get little or no down payment when starting a construction project. Keeping change orders paid early and often is crucial to your company's cash flow. 3. Financial Reporting Generating financial reports is easily accessed through your accounting software. The real question here is, how reliable are your reports? A generic chart of accounts that comes with your QuickBooks software, for example, is not customized to your construction business needs; thus, transactions are often assigned to improper categories resulting in inaccurate reports. These reports, in combination with Five Key Performance Indicators, are what helps you understand which projects to pursue and which ones to ignore. Having inaccurate statements could result in bad decisions on what to bid and not bid on until you eventually run out of time and money. 4. Payroll Processing Payroll calculations are tedious, time-consuming and thanks to a variety of local, state and federal regulations, they are rather complex to compute. You have to consider everything from time cards, workers compensation, unemployment, federal withholding, social security, employee loans, child support, wage garnishments, certified payroll reports, sick pay, vacation pay, holiday pay – not to mention, filing the entire group of local and state and federal payroll tax returns. In this area alone, a Professional Contractor Bookkeeping Service is worth having because you will save time, aggravation and hopefully avoid fines, late fees, interest, and penalties. 5. Tax Filing Filing tax returns takes time and can be a misadventure for those who aren't aware of the local, state, and federal regulations. If you find yourself in an audit situation, it is in your best interest to have an accountant doing the math rather than playing the rookie apprentice. Again, you may incur financially crippling fines, penalties, and interest if you miscalculate your tax returns. Bookkeeping errors such as filing receipts as expenses could also result in your company overpaying taxes. In conclusion You work vigorously for your hard-earned money, don't let yourself (or your bookkeeper) waste it because of trying to do everything. 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. For construction companies who has valuable construction bookkeeper in their staff, our Do-It-Yourself bookkeeping templates are available in our online store. We also offer Bookkeeping Review and Bookkeeping Trial. 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, and QuickBooks For Contractors Expert. 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 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.     

This Podcast Is Episode Number 0326, And It Will Be About Understanding Other Construction Company Costs And Opportunities To Increase Your Profit   Many contractors are having trouble adapting to the new economy. I have made more mistakes – than ten of the average contractors put together. I've learned a great deal of hard, hard lessons, and worked my way through several "Character Building Moments." What I am about to ask you to do is something I have done for many years during my contracting days, and it still works.   Understanding Other Costs:   Marketing Cost   The cost your company spent to acquire and maintain the job. Depending on how you allocate marketing dollars as a percentage of sales or a fixed budget will have an impact on your marketing cost per job. Your cost-per-call, closing ratio, and other related information is all part of your operations, accounting, and bookkeeping reports.   Mobilization Cost    Are the costs you incurred to get a crew to the job site in terms of travel time and vehicle operating costs; and then the labor costs to unload tools, equipment, and material and put everything in place for easy access and not in the way of the work to be done. These costs are generally high and fixed.   Demobilization Cost   Are the reverse and generally lower because it takes less time to load the truck or van since you know where everything goes, and you know the quickest route back to the shop or office. These costs are also generally high and fixed.   Add these costs together and you will understand the value of staying on each job and solving all of your customers, or client's construction and maintenance issues are so much more profitable than windshield time.   Some contractors prefer not to offer "add on" sales, change orders, additional work orders whatever you call them because they feel it is a disservice to their clients and if it makes you uncomfortable don't do it.   Let's Run The Numbers Starting With The Cost To Acquire A Customer:   Step #1 – Generate a Profit & Loss Report from the previous two years and isolate total income. (Note: All companies are only two years old regardless of how long they have been in business because what happened more than two years ago doesn't matter when developing a financial forecast).   Step #2 – How much money did you invest In Marketing? Not investing money in marketing is like winking at a pretty girl or guy in the dark, you know you are doing it, but they don't. Relying on word of mouth means being in a race for the championship of low price leaders!   Step #3 – How many new customers or clients did you acquire during the past two years?   Step #4 – Divide Total Income from step #1 by the number of customers or clients in step #3, and you will have a rough idea of your sales per customer.   Step #5 – Divide The Amount Of Money You Invested In Marketing by the number of customers or clients in step #3. Just know that 80% of the marketing is done to keep current customers, and only 20% is designed to attract new ones. I have studied marketing extensively and will offer this one hint. Why do you suppose the car manufacturers invest so much money advertising their products when most people continue to purchase similar makes and models over and over?   Step #6 – Multiply The Net Profit Percentage shown on your Profit & Loss by the sales per customer in step #4 to generate a rough idea of the net worth of a customer to your Contracting Company. This is one of the numbers that become very important if you ever want to sell your Contracting Company.   Step #7 – Customer Gross Profit in step #6 minus marketing cost in step #5 = Customer Net Profit.   Step #8 – Where MR > MC,  when the Marginal Revenue is greater than the Marginal Cost and risk is manageable, do the deal.    Step #9 – Where is Break-Even or how far can I go before it is time to quit doing it?   Step #10 – When you know how much a client is worth, you will know how much you can invest to acquire a new one and as many new ones as you want.        Profit Opportunities:   Add-on Sales   Your Customers And Clients - Are depending on you to give them good advice and help them protect their real estate investments.   I cannot begin to tell you the number of times people have come up to me at social and networking events to relate stories about how they did everything but get on hands and knees and beg their contractor to do a little extra work while they were already there. When I asked if they expected it for free all of them said no, they planned and were willing to pay extra.   You can choose  to provide add on sales and services for your customers and reap bountiful profits or wait until your customer calls one of my contractor clients who are learning how to grow a profitable and successful business and they will take your customers off your hands and turn them into high-profit clients.   Service Agreement   Service agreement holders are more likely to be clients that add more value to your construction company because they represent the most loyal segment of your customer base. Every service agreement client represents future work. In the meantime, service agreement clients are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary.   Non-service agreement customers are more likely to be customers and fickle. They may call your contracting company for future work, or they may decide to shop the competition and use the information they find to negotiate for a lower price. In some cases, they may not even remember you or your construction company name.   Also, your replacement sale close-ratio usually is higher with service agreement clients and your overall pricing and related service care level can be much higher, resulting in even more raving fans. Service agreement clients trust you, follow your recommendations, and do not frequently shop around.    Accept Credit Cards   Unplanned Emergencies are stressful, now add "how am I going to pay for this" to the mix, and the anxiety increases exponentially! For most people short in cash supply, it leaves them using a credit card, getting a bank loan, or selling something to raise money as their best options.   For Example: Homeowner with a leaking roof is going to get it fixed right away because rainwater is damaging the interior of their home including some irreplaceable sentimental treasures such as items passed down from parents and grandparents.   Who will they call? - You, I hope! If you are their contractor and you are actively working and the contractor they like and trust.   Accepting all credit cards makes you the hero because they get instant financing and your Electronic Armored Car takes your money to the bank.   "Everybody wins, your client gets roof fixed, they earn airline miles and other perks, and you made a sale which you could have easily lost to a competitor that accepts credit cards."   Conclusion:   Two Easy Ways: to massively increase cash flow and profits is to cut costs or increase revenue. One is limited the other one is not. Money is not everything; it is merely a way for you and your family to enjoy the good things in life. By serving your client base effectively giving them what they want, your wealth will provide opportunities for other people who help you to do the same.   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, and QuickBooks For Contractors Expert. 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 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.    OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT                           Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not?  

This Podcast Is Episode Number 0325, And It Will Be About Construction Company Marketing - Leads, Customers, And Clients It takes work to make the phone ring. It takes even more work to increase the sales ticket. Customers are looking for a contractor to do a little work. If you offer three options, do you find customers usually choose the middle option?    When trying someone new, they may go with a "Low Risk" by prepaying for services on a "Deal" on a contractor lead generation service. The deal allows them to set a "budget." It allows them to try you out before mentioning any additional details. Have you ever heard anything like this from a prospect: "Hello Contractor, I had nothing better to do this week, so I filled out your form and called you on the phone to ask you come to my house and while I act your tour guide because I am thinking of having some work done."? Not likely.   Most homeowners have a real need before asking for a stranger to come to their home. They are looking for any "Affinity" that makes you a safe choice. This is why people are on the Social Media sites looking for "A Friend" or "A Friend of a Friend" anything to get a primary connection; an opinion from someone else before inviting you into their home.   What They Are Thinking - "Contractor, You Are Here Because I Need The Following":   Type 1 Project - Immediate:  Work That Must Be Done   Type 2 Project - Soon:  Work I Should Have Done   Type 3 Project - Future:  Work I Want To Have Done   You are there looking for an opportunity to meet the right stable customer who is looking to become a good solid client. You know you have a client instead of a customer when they ask you about a Type 2 or Type 3 items on their list. Don't be afraid to bring out the estimate, change order form, or invoice. In most cases, they want you to write up the order, and if you do not get the paperwork started early, they often think you are rejecting them.   One of your greatest fears is wasting money on a less than good lead:    I have heard contractors think that on more substantial projects homeowners are "Just Getting Free Ideas" for someday when looking for a massive remodel, new deck or patio when the SCOPE of the project keeps expanding and the budget is shrinking. As a general rule, those are the exception. Consider charging a design fee.   They may or may not have any real desire for services. Sometimes a person is committed to collecting three bids when they already have someone picked out to do the work. They may be looking for a "temporary friend" to do them a favor or in some cases by the time you have completed the form they have changed their mind and no longer want service. This is often the case when one spouse or partner wants the work done, and the other one doesn't.   Do-It-Yourself Leads:    Anytime someone who fills out any website form you simply look at the information with a positive attitude. You are trying to understand does this person have a real need? Do they have a "Compelling Reason" a must-have or is it merely a whim, spur of the moment window shopping?   Your best course of action could be to begin thinking and planning about how you can adjust the schedule to fit their project in place — mentally gearing up on how you can provide the best possible service to that client. That means "A Client" not just "A Customer"; someone who is in the top 20% of the 80/20 Rule.   Marketing Service Leads:   Many Marketing Services assist in fine-tuning, changing, or updating your existing website to increase your search engine optimization (SEO) for more leads on your website. These marketing companies may have a web-based or desktop module for estimating, scheduling, or project management software that links to your existing website. Some software will connect to QuickBooks for Contractors; however, in most cases, they do more harm than good. Others will suggest their software provides invoicing, job costing, scheduling, and financials and QuickBooks is not needed.     Professional Lead Generating Services:    Professional lead services with filters and multiple forms try to weed out bogus leads for you. In other words, a professional lead service that pre-screens prospects and charges a "lead generating" fee may work best for you.   Discount Coupon Services:    Several companies offer this service. With the help of a sales representative you can determine the best "Deal" to extend your prospective customers to purchase online. Usually, these types of contractor lead-generation services deduct their fees and send the contractor the balance that is left over.   The benefit to contractors is a "Guaranteed Sale" usually at a "Fixed Price" for a predetermined "Scope of Work." Depending on the agreement between the contractor and the lead generation service, there could be opportunities for additional work. Be sure to keep some change order forms handy in case you need them. We have some FREE Change Order Templates you can download by clicking here. Also, if you need it, we have FREE Invoice templates you can download by clicking here.   Please note in most cases it is up to the contractor to invoice and collect for any services that exceed the amount covered in the "Discount Coupon" for services. It is okay if you want to do as much as possible in the shortest space of time to save the customer from exceeding the cost of the initial Coupon Deal. However, it is a shame not to fix everything while you are onsite because "Work Time" generally pays better than "Windshield Time."    There are several opportunities to add value with the intangibles: your warm and friendly personality, by asking the right questions you can demonstrate knowledge and skill which can often lead to increased sales.   Sales Tax Still Applies:    In most states and especially in Washington State, sales tax is due on the original purchase price of the "Deal" or "Coupon" or whatever term is used before deducting any lead generation fees.    The sales tax issue usually is not clearly understood or documented in the coupon details. Sometimes contractors and customers assume since the purchase was made online that sales tax does not apply. In a sales tax audit, the contractor is most likely to suffer massive fines and penalties which could destroy your construction company and everything you own. Again consult with your construction accountant.   Print Media:  Flyers and direct mail still works even in the age of "Everything Internet" we all receive a certain number of brochures and direct mail pieces coming to our home and business. One of the advantages is that these pieces are easy to find (we all have a particular spot for them) before they get moved and saved, filed, passed on to someone else, or eventually tossed away.    There is a marketing tool many of our contractor clients have used very effectively, which we call "Contractors Six Pack Marketing Tool," and it is totally Do-It-Yourself.  Conclusion: What Is The Focus Of Your Construction Company?   Residential or Commercial?  Do you like dealing with the Homeowners, Landlords, or Property Management Companies? Alternatively, are you a General Contractor or Specialty Trade Contractor? Do you enjoy new construction, commercial tenant improvements (T.I.'s), apartments, condominiums, Co-ops, remodels or service and repair? Marketing is all about doing something.   Are you reading the fine print? Are you locked into a long term contract? Are you in control? Can you make changes in location? Can you make changes to the business type? Can you Turn On or Turn Off your lead services? Finally, take a few minutes to think and talk to other contractors.   We provide "Above The Line" consulting, coaching, operational assistance in processes that are designed to help you grow. We help a little or a lot depending on your needs. I look forward to being able to assist you with any option that best fits your company.  Please feel free to download all the Free Forms and Resources that you find useful for your business.   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. Call 206-361-3950 or [email protected] Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? 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  

This Podcast Is Episode Number 0324, And It Will Be About Effective Strategies For Contractor Timecard Issues 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.   In almost all cases, in addition to visiting the local pawn shop if an employee does not get paid "On Time," they may contact your local state agencies and even Federal agencies for assistance. Please understand payday is "Results Driven," your results, not theirs and "No Excuses Allowed."   Purpose Of All Timecards:   1. Pay Employees   2. Fill out Government Forms   3. Job Costing for a better bottom line   As the employer, you need to have the timecard as the foundation for making sure employees get paid. Employees need to fill-it-out their timecard and total it, including anyone on salary. You can create your timecard, or you can download our FREE timecard form and modify it to fit your needs. Timecard needs to be something more than a few numbers scribbled on the back of a paper bag or the nearest Home Depot receipt (those are already full of footprints and coffee stains).   After all, timecards (timesheets) are entered into QuickBooks, save and file them. Do this even if you are using a 3rd party payroll processor. You may need to reference the information later.   Timecards should have the following - the more the detail, the better:   Company Name   Period Payroll Covers   Employee Name   Days of Week worked   Hours Worked with Start / Stop and lunch breaks   Total Regular Hours   Total Overtime Hours   Special Hours Quarterly tax returns for Washington State Employment Security and Washington State Labor & Industries cross-reference each other to review the same employee wage data in different ways.   Quarterly tax returns for Washington State Employment Security Quarterly Reports want employee wage detail, including:   Name   Social Security Numbers   Hours Worked   Gross Wages   Washington State Labor And Industries Wants Summary Data Including:   Labor code worked under   Total hours per classification   Total wages per classification   Washington State Labor And Industries set the rate for each contractor based on their experience rating.   Example of Washington State L&I Contractor Rates   It is always optional to take the employee deduction from employees paycheck based on risk classification worked. Taking more than allowed is not acceptable.   We recommend all construction company owners deduct the maximum allowed from each employee and bring it up early and often in your safety meetings because it helps them focus more attention on safety which helps lower overhead costs and benefits everyone. It is essential to understand the Psychology of Construction Field Employees. Click here for more.   Whenever any employee is requesting unemployment benefits, their request is sent to the employer to verify they are or have been an employee. The Washington State Employment Security computer may auto-fill the form and sends a letter to the first company on the list. It is imperative that someone in your office double-checks the accuracy of the request and notify the Washington State Employment Security if it is not your employee. Companies have similar names, and each state wants to apply the risk to the proper company. They also want to verify if any employee is saying they have worked for a company which they were a 1099 contract employee or trying to submit a fraudulent claim.   Part-Time Employees   What about an employee who is working part-time and sometimes receiving unemployment benefits?   Washington State Employment Security will send a form for the employee to fill out, breaking down the hours and gross pay week-by-week for a period that is in question.   Example of Washington State Employment Security Wage Verification   This can be for all the hours worked from a 12 to 52 week period, including time worked during the previous year. Your source document is the timecards and pay-stubs, and you may need it if you have to prove their hours and the more detail in their handwriting, the better!   Washington State Employment Security wants to know:   Does the social security number match?   What is the rate of pay?   Is there any other type of benefits?   What is your pay cycle?   What is the last day of the pay period?   Are original timecards (sheets) available?   What are the daily hours with a weekly total?   What is the weekly total earned?   What day were the wages paid?   The dollar amount of wages paid?   Conclusion: All forms are easy to fill out if you have all the data in a readily usable format that accessible. What you do as a contractor is "Easy To Do" if it is something you do all of the time.   As QuickBooks experts in Contractors accounting and contractors bookkeeping, paperwork is our particular skill set. We know what to do! Let us help you so you can do what you do best!   We help a little or a lot depending on your needs. I look forward to being able to assist you with any option that best fits your company.  Please feel free to download all the Free Forms and Resources that you find useful for your business.   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. Call 206-361-3950 or [email protected] Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? 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  

This Podcast Is Episode Number 0323, And It Will Be About How To Manage Cash Flow Properly In Your Contracting Company Construction company cash flow is the movement of money in and out of your contracting business; these movements are known in accounting circles as inflow and outflow.    Inflows for your construction company primarily come from the sale of goods or services to your customers, but keep in mind that inflow only occurs when you make a cash sale or collect on receivables. Cash is king! Other examples of cash inflows are borrowed funds, income derived from sales of assets, and investment income from interest.   Outflows for your construction company are generally the result of paying labor, material, other direct and indirect costs of goods sold and overhead expenses.   Is cash flow the same as profit?   While they might seem similar, profit and cash flow are two entirely different concepts, each with entirely different results. The concept of profit is somewhat broad and only looks at income and expenses over a certain period, say a fiscal quarter. Profit is a useful figure for calculating your taxes and reporting to the IRS.   Cash flow, on the other hand, is a more dynamic tool focusing on the day-to-day operations of a construction company owner. It is concerned with the movement of money in and out of a construction company. However, more important, it is concerned with the times at which the movement of the money takes place.   In theory, even profitable construction companies can go bankrupt. It would take a lot of negligence and total disregard for cash flow, but it is possible. Consider how the difference between profit and cash flow relate to your construction company.   Example: If your retail construction company bought a $1,000 item and turned around to sell it for $2,000, then you have made a $1,000 profit. However, what if the buyer of the item is slow to pay his or her bill, and six months pass before you collect on the account? Your construction company may show a profit, but what about the bills it has to pay during those six months? You may not have the cash to pay the bills despite the profits you earned on the sale. Furthermore, this cash flow gap may cause you to miss other profit opportunities, damage your credit rating, and force you to take out loans and create debt. If this mistake is repeated enough times, you may go bankrupt.   Analyzing Your Construction Company Cash Flow The sooner you learn how to manage your cash flow, the better your chances for survival. Furthermore, you will be able to protect your company's short-term reputation as well as position it for long-term success.   The first step toward taking control of your company's cash flow is to analyze the components that affect the timing of your cash inflows and outflows. A thorough analysis of these components will reveal problem areas that lead to cash flow gaps in your construction company. Narrowing, or even closing, these gaps is the key to cash flow management.   Some of the more critical components to examine are:   Accounts receivable   Represent sales that have not been collected. An account receivable is created when you sell something to a customer in return for his or her promise to pay at a later date. The longer it takes your customers to pay, the more negative the effect on your cash flow. This is why you should always get Job Deposits.   Credit Terms   The time limits you set for your customers' promise to pay for their purchases. Credit terms affect the timing of your cash inflows. A simple way to improve cash flow is to get customers to pay their bills more quickly. One right way to do that is to accept all major credit cards, including American Express.   Credit Policy   Part of your Contractor Business Plan and the blueprint you use when deciding to extend credit to a customer. Your credit policy needs to be neither too strict nor too generous to allow for healthy cash flow.   Inventory   The excess materials or supplies your construction company keeps on hand to meet your customer's needs. Excess inventory can severely cripple your cash flow by using money that put to better use elsewhere. Too many construction company owners buy inventory thinking it will save time going to the supply house instead of keeping only what they need for each day. Keep your inventory as low as possible.   Accounts payable and cash flow   Amount you owe to your suppliers and needs to be paid at some point shortly - "near" meaning 30 to 90 days. Without payables and trade credit, you would have to pay for all goods and services at the time you purchase them. For optimum cash flow management, examine your payables schedule, and in some cases, you may be able to earn 36% Return On Investment from your accounts payable.   Some cash flow gaps are intentional. For example, a construction company may purchase extra inventory to take advantage of low prices in precious metals like steel, aluminum, and copper, quantity discounts, take advantage of significant trade discounts, or spend extra cash on growing the company.   Some construction companies have cash flow gaps that cannot be avoided. A construction company that works primarily in the outdoors experiences seasonal fluctuations in the winter. These construction companies may have cash flow gaps during slow seasons and then later fill the gaps with cash surpluses during peak seasons. Cash flow gaps can be managed with external financing sources. Revolving lines of credit, bank loans, and trade credit are just a few of the external financing options available that you may want to discuss with us.   In conclusion:   Monitoring and managing your cash flow is essential for the vitality of your construction company. The first signs of financial woe appear in your cash flow statement, giving you time to recognize a future problem and plan a strategy to deal with it. Furthermore, with periodic cash flow analysis, you can head off those unpleasant financial glitches by recognizing which aspects of your construction company have the potential to cause cash flow gaps. 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, and QuickBooks For Contractors Expert. 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 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.      Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not?  

This Podcast Is Episode Number 0322, And It Will Be About How To Build A Construction Company That Can Grow Without You   Perhaps more.    An alarming number of construction company owners are being ripped-off and driven into bankruptcy. That sounds harsh, but it's true. Whenever we see a contractor heading towards a problem, an issue, or a big disaster, we immediately raise the alarm. We are cautious about doing it so when we say there is a potential problem, our clients know we are serious.   Contractors by nature are tenacious, resilient and have a tremendous amount of "Grit And Determination To Succeed" which means they are not easily disturbed or prone to react hastily or rashly at the first sign of trouble. This is just one of the many qualities I sincerely admire about these wonderful men and women. Most of our contractor clients will listen carefully and thoughtfully when we offer advice and words of wisdom because they know, like and trust us and are aware that everyone on here at Fast Easy Accounting has many years of "Real World Construction Experience," not merely academic egg-heads. I say that with all due respect to egg heads since I am an egg-head with several degrees and certifications in Accounting, Construction Accounting and Project Management.   We have callouses on our hands having owned and operated construction companies, and some of us have served an apprenticeship in one of the construction trades. In other words, when it comes to owning, operating, and making a substantial amount of money with construction and contractor service companies, we know what we are talking about.   Bookkeeper embezzlement can destroy your construction company and your personal finances. Unfortunately, until a contractor has gotten to know us, they tend to think of us as just another contractors bookkeeping service. Which means some contractors think we are crazy to suggest that any trusted employee, especially an in-house bookkeeper, would steal money from their company, and so they ignore us until it was too late.   Construction Bookkeeper Embezzlers come in every race, creed, color, gender, age. There is no definitive profile, no absolute way to know which contractor bookkeeper is an embezzler until they have been caught and convicted and even then if you do not perform extensive background checks you may never know it until it is too late.   Just because you catch a bookkeeper embezzling funds don't think for one minute they will always be punished and made to pay you back. You must understand, for the most part, in the eyes of the public, employees are unfortunate innocent victims of brutal greedy business owners.   Fortunately for you, I've compiled these telltale signs of a lousy bookkeeper, so it's easy to spot and avoid one:   Refuse to invest time and money in continuing education because they know everything. They never learn anything new unless the company pays for the training and it is on the clock.   Is passive aggressive and will study you and your staff to learn how to manipulate everyone, gaining power over you, your team, and new employees and outside suppliers.   Hate change and will fight tooth and nail to stop it, or they will destroy your company.   Know you're responsible for taxes, fines, penalties, and interest; so this is where they get even since they know how to increase your quarterly tax return costs, click here to learn more.   Understand that bookkeeping is 90% repetitive transactions and 10% complex transactions. But they don't know what to do with complex transactions, so they put them wherever they feel like.   Have side jobs working for other companies or an entire bookkeeping business on the side.   Quit when the tax return is being prepared because QuickBooks is a mess and they're caught, and when they do quit or get fired, expect to hear: "Chaos, panic and disorder...my work here is done."   Keep you busy with lots of mindless crap to divert attention from why the books are a mess and let you think you are in control of the bookkeeping and the bookkeeper until it is too late.   Let the work expand to fill whatever time you are willing to pay them to get it done and train you to leave them alone by getting upset or angry whenever you want anything.   Become indispensable to take time off whenever they please and hold you hostage. Also, negotiate for additional perks, benefits, changes, and elimination of personal accountability.   Things to look out for when hiring/outsourcing a bookkeeper:   Qualified construction accountant and construction bookkeeper with a passion for learning and expanding their skill set. Local based - if you're outsourcing and in the U.S., there are many off-shore and foreign services that may be cheaper but in most cases will cost your business more money in the long run. A professional office - not somebody's home where there are little or no controls on who has access to your contracting company records; including your competitors. You would be surprised if you knew how many contractor's spouses and significant others take on other contractors bookkeeping and the information about bids, estimates profit and loss find its way into your competitor's hands.   In conclusion:   What happens when the person in control of QuickBooks is unhappy with you? The same thing that happens when the person who cooks your food is unhappy with you. Hiring the wrong bookkeeper will leave you with unfiled and unpaid taxes, gasping, upset, with tear stained checks, standing in the middle of the highway of business success staring at the remains of your business, crashed, upside down, with no hope in sight.   I have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases, it was Bookkeeper Incompetence or Bookkeeper Embezzlement, and in other cases, it appears to me there may have been some deliberate identity theft; however, I cannot be certain. All I know for sure is that I have witnessed business failures that have led to divorce, families destroyed, finances wiped out, and people living on the streets. Make sure you hire the right one for your construction company.

This Podcast Is Episode Number 0321, And It Will Be About How To Build A Construction Company That Can Grow Without You   If you are the typical construction contractor trying to keep track of your construction projects, meetings, tasks, and conversations without the tools and technologies you could be living in a nightmare. You can either keep on "Powering Through"- spend your life endlessly chasing details, missing appointments, suffer untold losses in cash flow and profits; or you can start developing a plan and work on your business.   You may be getting your construction projects done with sheer will-power, but the lack of processes, business plan, and strategy will eventually wear you down.   Successful contractors improve processes all year long. Your construction company can benefit from this system that other successful contractors are using now, which means there is no need to "Reinvent The Wheel." As your construction company grows and evolves, your processes can support the controlled and planned expansion.   Here Are Some Important Questions To Consider:   What if there was a way to have useful Financial and Job Costing Reports on demand 24/7 from a secure web portal that provides the information you and your construction company actually need rather than adapting the way you work to a tool that only partially addresses your construction company's needs?   What if these tools and processes not only worked well within your construction company but allowed you to invite your Board of Advisors to participate and collaborate with you?   What if these tools and processes could be customized for your particular construction company without having to go to multiple sources to get it done?   What if these tools and processes required little or no technology investment? Please read objectively and assess your strengths and weaknesses in each area. You will be a better contractor for it. We do not ask you to change who you are but rather encourage you to do what you do best and outsource the rest. Some of you will experience a paradigm shift which is something deep inside yourself, recognizing there may be another way to do something you are already doing. Others will experience nothing. Whatever is in your best interest will occur. The Process-Dependent Approach:   1. Work for clients instead of customers   The 80-20 Rule 20% of your customers usually generate 80% of your net profit.  20% of the goods or services you sell contribute 80% of your revenue. 20% or 2 out of 10 of your staff create 80% of the value for your customers. The most critical value proper bookkeeping brings to a business is an understanding of where your 20% is hidden.   By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work.   2. Use Change Orders   The purpose of the construction change order form is to help you make a prisoner on paper any conversations between your customer and you, the contractor, your project manager, superintendent, foreman, construction worker or anyone else who has communications with your client.   Your customers and clients may try to push you a little just to see if you will give them something for free so don't take it personally, it is just a game to them. Stand your ground, and in most cases, reasonable people will pay you a fair price for your services. Which means, in the end, your construction company will earn more money, pay better wages to your employees and you will generally enjoy a fuller and richly rewarding life.   3. Client and Document Management System   With the rapid changes in technology, finding the right system that works best for you and your company might seem a bit of a challenge but well worth the time invested. Improper document management results in overpaying taxes and poor scheduling affect production and cash flow. Clients trust your company to solve their problem, which relies on your performance and operation.   4. M.A.P.  Operation (Marketing, Accounting, Production)   Marketing is the foundation because nothing happens until somebody hires your services. Focus on what you're good at. What jobs have you done that did a positive difference in peoples lives? What projects did you have so much fun doing that time seemed to fly by? Consider your answers and write a story to describe the people you enjoy working for because they are your "Prime Customers" and they are your target market.    Accounting is the scorecard - what gets measured, gets managed. It tells you what is working and what you should do more of to make more money.   Production is the final stage because this is where all the planning and support structure pays off.   5. Construction Accounting And Bookkeeping     There is a world of difference between Regular Accounting and Construction Accounting. Construction Accounting is the center of your construction business; pay attention to what it says, and it can make you wealthy. The value in your bookkeeping is in the accuracy of the reports.   In conclusion:   With the appropriate tools and processes, you can have the insights you need to manage and grow your construction company effectively and efficiently even without you running it. You can sit back and relax while you monitor and manage the work-in-process you already laid out. The last thing I leave you is "Knowledge is Power." There are simple answers to all complex problems, and they are usually wrong. Invest the time, money, and effort to do it right the first time. You have what it takes to be successful, and you deserve to be wealthy because contractors add value to other people's lives.  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, and QuickBooks For Contractors Expert. 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 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. 

This Podcast Is Episode Number 0320, And It Will Be About What Every Contractor Needs To Know About Profit And Growth Coaching When my partner, Sharie DeHart and I, were running construction and plumbing service and repair businesses beginning in the early 1970s until 2000 we felt we did not need to pay anybody to tell us what to do because we knew exactly what to do.   After several very painful and extremely costly mistakes, we found the adage "Experience Is The Best Teacher...And The Most Expensive" to be oh so true!   We found ourselves, our family, employees, and suppliers were all riding on our Roller Coaster of Surprises, some good, some bad. On occasion, we would wake up screaming bloody murder only to discover it was the middle of the afternoon, and we were not asleep!   After a while, we decided perhaps there was truth to "If you think education is expensive, try ignorance." I will admit I was a bit arrogant thinking since I was raised in a family of contractors that I knew a lot about construction. In fact, I knew quite a bit about what Michael Gerber calls "Working In The Business But Not On The Business."   At that point in the late 1970s, we decided to move to The Merry-Go-Round of a business with a Strategic Plan that could grow-up and provide us with a more predictable result.   Books, Tapes, Seminars and Gurus   For the next several years we added a combined total of over 4,000 books, cassette tapes, VHS videotapes, workbooks, and several hundred handouts from every How-To-Do-It guru we could find.   And we were still not getting anywhere fast because the seminars are like energy drinks, they pump you up, and after a week or two in the real world, we were beaten down again. It was back to a roller coaster ride.   Be, Do, Have   In time we found several consultants and professionals some good, some bad, some nightmares and one, in particular, kept repeating: Be, Do, Have. Be the person, Do the work, Have the results.   In life, we produce reasons or results and, reasons don't count. Having experienced success and failure several times, this message slowly sank into my head.   We even hired a few consultants that were worthless because they had no construction experience and could only teach what they had learned in university or by hanging around hyped up seminar presenters selling Get-Rich-Quick-Schemes to rooms full of desperate people.   We discovered that success came fast and easy when we engage the services of mentors that are skilled in construction because they were where we wanted to be.   Here are some tips that could help you in deciding on a consultant:   1. Make sure they have hands-on experience in your profession. Preferably a Journeyman License, Certifications or some kind of external proof of their expertise.    2. Though the dogs (people who think you should tough it out and go it alone) may bark, the caravan (a long line of successful people with consultants on their team) moves on.   3. Choose wisely the six people you spend the most of your time with as leveling is always occurring.   4. Make sure your consulting sessions take place in a safe, nurturing environment.   5. Reflect on what you think, believe, or feel and if it's important to the topic of conversation.   Questions To Ask Yourself:   1. Are you judged or criticized for anything you say or do?    2. Is your consultant brainstorming with you on management to management level about your issues and concerns?   3. Does your consultant suggest working with a Board of Advisors?   4. Do you feel you can do a brain dump in a safe, nurturing environment?   5. Are your specific problems and/or issues being addressed?   Over to you   Do you own and operate a small construction company? Have you ever wondered if having a consultant with construction expertise to call on and ask questions would help you? Are you concerned you cannot afford one?   We would like the opportunity to work with you.   We will spend a full hour with you at no charge so that both of us can determine if we are a good fit. Afterward, if there is mutual agreement to move forward, we will customize a program to fit your budget and your needs.   As a part of our program, we will complete our analysis and present you a report regularly:   You decide what to do with the information.   You make changes or stay the same.   You may want some show and tell (for visual people).   You may decide to have us setup your QuickBooks KPI (Key Performance Indicator) Reports. You can also get a full in-depth analysis and review of the biggest issues you're having with your bookkeeping system and any other part of your contracting company with our Contractor Bookkeeping Review services.  It is not about what we think, believe, or feel is necessary. The focus is always on you, what you think, what you believe or what you feel is necessary. We offer support, trust, competence, and complete understanding.   In conclusion:   You are a perfect being operating in an ideal place at the right time, and you are on a never-ending journey becoming all you were created to be. You will encounter many excellent guides, teachers, mentors, and consultants who will support you on your different paths, times, and phases along your quest. It is crucial you work with someone who has been where you are now because you deserve to be wealthy because you bring value to other people's lives. 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, and QuickBooks For Contractors Expert. 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 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.    OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT                             {{cta('c4b9eaa2-0f44-4c6b-936a-5c894a3b648d')}}  {{cta('1f982957-871e-46ea-8fdb-2cf3bc58ecf2')}}                             {{cta('6cd6f281-8eab-4e60-9589-3936006cf76a')}}  {{cta('e90bcfd6-ddb4-4cb8-9e5a-2e7696d1eaf3')}}   Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not?    

This Podcast Is Episode Number 0319, And It Will Be About Increase Traffic And 30 Content Ideas For Construction Blogs Go through a quick search of construction/home service-based businesses near you, whether it’s a Handyman, Plumber, Painter, or a Framing company, or better yet google your competition and look at their information. Does it link to their websites? And if so, do they maintain a blog? How many people, including you, search the web for information before making a decision – buying equipment, booking a hotel, or eating at a restaurant? While a company website establishes your credibility as an industry leader, blogging presents an excellent opportunity for you to develop a relationship with your audience, strengthens your reputation as an authority in your field, and helps you stand out from the competition. You care enough to provide your prospects and followers relevant and useful information that they can practice and apply. When creating content, ask yourself these questions: • What is the purpose of this blog post? • Am I adding value? • Why is this important to my readers? Let’s get to practical pointers first and what you can do to improve your search ranking and drive more traffic to your blog (ask your website administrator or blog editor to ensure this is implemented, or you can do-it-yourself by searching tutorials particular to your website hosting platform): 1. Local SEO (Search Engine Optimization) Make it easy for Google (or a search engine) to understand the essential elements of your business. Clearly state information like the location - city, state, specific trade, and the particular clients (commercial or residential) that you serve.  2. Post photos with alt text (alternative text) An “alt text” also known as “alt attribute” is used within an HTML code to describe the appearance of an image on a page. If an image is not rendering on your page, an alt text will be displayed in place of it. It helps search engine crawlers to index an image properly, therefore improving your search ranking. 3. Title count and meta description Describe your page precisely and write exclusive information particular to that blog post. You can preview how your blog post will look on a Search Engine Result Page (SERP) using this tool. 4. Clickable email and phone number How many times have you looked something up using your smartphone and would like to give them a call right away? To see if they're still open, if they can deliver to your house, or if they offer pricing options? You see their number on the web page, clicked it, and nothing happens. This is clearly a missed opportunity. As example: Clicking (206) 361-3950 or email [email protected] will launch the phone app or your email app, waiting for you to take action. Depending on the website hosting platform you’re using, you can configure the settings or add some coding to your content. Click here for an in-depth tutorial. 5. Layout Create a better user experience by providing your visitors an easy to read, digestible, and scannable content by using: subheadings bullet points checklist short paragraphs blocked quotes Here are the blog posts and content ideas: Client Interviews Testimonials are one-sided and usually a short text of how you performed. Take it up a notch and make it a Q and A post: Why did they hire you? What processes have you been through together to come up with a successful plan? This would deliver an impactful message to your audience. How-to Guides Imagine a mother’s anxiety before a significant renovation, add her full-time job and her family’s needs to that. If you can address most of her concerns before wreaking havoc inside their home, that’s value right there. Example: How to Prepare for a Kitchen Remodeling Project Checklist Write about safety and procedures, your daily inspection, or tasks reminders on what to do. Guide By creating a handbook post, you are basically telling prospective clients the qualifications of an expert (insert your particular trade) contractor. This is a subtle way of showing your mastery and skills without being "salesy." Example: What to Look Out for Before Hiring a Capet Installer Biggest mistakes/lessons Nobody wants to talk about their failures, but what are your takeaways from these failures that lead you to step up your game plan. Example: My Painting Job That Went Horribly Wrong Tips and Tricks Helpful and bite-sized information. Whether you’re talking about using a manual tool, choosing the right paint color, etc. Tutorial with Video Demonstration They can probably search this on YouTube, but it doesn’t mean you cannot make one. This is part of positioning yourself as their “Go-to person.” Telling your clients you know how to use your tools is one thing, showing them how is another. FAQ What are the most common questions you’ve been asked? Is it about how you deliver your services? What time of day can they expect you to show up? Start taking notes of what your clients are asking or telling you. These little details can make up for an informative blog post. Share a list of online resources related to your services Example: 10 Inspiring Minimalist Bedrooms Event Recap Have you participated in a trade show? Attended an industry conference or a marketing event? It shows your keeping up with the industry standards and best practices. And 20 other more ideas: Meet the Team Labor Tools and Equipment you are using Currently After story (post a before picture too) Quiz (Are you ready to remodel?) Local business recommendation Day in the Life A story about how you end up in your business Common or Seasonal issues advice/reminders Product review Write a blog post about your services and include a special offer Favorite smartphone apps Trending/New Development Book review and how it helped you/your business Infographic Reveal an industry secret Disprove a Theory / Common misconceptions Budget advice Promote a cause that your business is contributing to Invite guest bloggers  In conclusion: Blogging humanizes your brand and shows that you’re looking out for your readers’ best interest. It drives more traffic to your website and enhances your inbound marketing efforts. The sample content and blog post ideas listed above will not only bring your business qualified leads but also turn away tire-kickers and bad prospects because now they have a better idea of who you serve and why you do it. It's an excellent way of generating high-quality leads. Of course, we all know that to get your message out there, just publishing your post online is not enough, make sure you promote your content on social media and if it’s possible, consider submitting articles on popular websites as a guest blogger that are relevant to your industry.   Need Help Now? Call Sharie 206-361-3950 [email protected] Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services Thank you for stopping by. Please know that we do care about you and your construction company regardless of whether you hire our services or not. For help with your accounting and bookkeeping needs please fill out the form on the right and we'll be in touch with you shortly. About The Author: Norhalma Verzosa is a Certified Construction Marketing Professional and works as the Webmaster of Fast Easy Accounting located in Lynnwood, WA. She has a Bachelor's Degree in Psychology and a Certified Internet Web Professional with a Site Development Associate, Google AdWords Search Advertising, and HubSpot Academy certifications. She manages the entire web presence of Fast Easy Accounting using a variety of SaaS tools including Hubspot, Shopify, WordPress, Libsyn, and Wistia.

This Podcast Is Episode Number 0318, And It Will Be About Establishing Your General Contracting Business - T.I.P.S. On Starting It Right 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 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. T.I.P.S. On How To Get Started Right T – Taxes The last thing we want to think about is TAXES when it should be the first thing we should think about. Our office is in Lynnwood, WA so this tax tip, in particular, is directed to Washington State residents. Think/Research/Choose Your business name: Who are you? Is that your trade name? Are they the same? What is your domain name? First Stop: Secretary Of State What is your ownership structure for the Federal/State agencies? This will determine what type of taxes you need to pay as part of your personal 1040 tax return. To prevent duplicate identification numbers (UBI), it is recommended to file your company identity to the Secretary of State. Second Stop: Federal Employee Identification Number Apply for a Federal Employer Identification Number (FEIN). Whenever you have employees, this number is required no matter what type of ownership structure. Many years ago, a personal security number was used. The government will request both the personal social security and FEIN on some forms. Third Stop: State Of Washington Business License Application Washington Business License Application (commonly known as the Master Business License) is what registers the business. Depending on your type of business, whether you need to collect sales tax, pay business and occupation tax to the state of Washington. I – Income and Invoice We are not business without clients. Our new clients become existing clients. Once the job is completed (last month/last year), they become our previous clients. As part of the bidding, estimating, scheduling, doing the work, and collecting the money, you need to understand a few basic rules. It involves paperwork. Tax, certifications, liens, and permits depending on who you are as a business and what type of work you do. New Construction – depends on the type of new construction Commercial – depends on the type of commercial project, your individual trade, and location. Residential – depends on the size of the project, the owner may be actively involved Service and Repair – usually emergency driven and price shopped “after the work’s done") Invoicing is all about presenting the agreed upon amount in a format the customer can easily understand and be willing to pay promptly. It’s all about getting a fair price for the work performed and payment in a timely fashion. The type of invoice presented varies from the size of Job and Job Type. P – Payroll, Planning, Production, and Profit Prospective applicants need to submit a formal employment application and complete the hiring process before going to work on the job. Hiring an employee has added benefit to your overall production. The downside is there are additional costs for Labor/Taxes/Overhead that comes with hiring an employee.  As with any business, the goal is to make a profit. One way to do that is leveraging your time - understand the 80/20 Rule, hire employees as needed, and save time on your bookkeeping. S – Success, System, Structure, and Security Success is what we are all striving for. Each person picks their own goals and has their own definition of what success is. How do we know when we have arrived? We learn systems as small children. Our parents develop what was commonly called “A Routine” for us. It’s a way to schedule/manage our daily activities. As an adult, when working for someone else – some aspects are still the same as when we are children. The structure is determined by someone else, and we are following their System. As business owners, we now have developed a Structure by implementing our Business Plan. Security comes from setting up the Structure and Systems in place that the business is running smoothly. Micro-managing should be optional and by choice, not by necessity. Why is this important? Because with security, there will be a peace of mind. Having peace of mind will create the environment to grow, which will generate the funds required and the time needed to be able to do the things you want to do for your family, your community, and for yourself. Conclusion: The roadmap on how we run our construction company is up to us – the business owner. The most detailed business plan means nothing if you are waiting for perfection. The timing will never be perfect. Get started now because the conditions will never be ideal, you only need to start it right. We help a little or a lot depending on your needs. I look forward to being able to assist you with any option that best fits your company.  Please feel free to download all the Free Forms and Resources that you find useful for your business.   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. Call 206-361-3950 or [email protected] Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? 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

This Podcast Is Episode Number 0317, And It Will Be About Five Basic Construction Accounting Tasks To Complete Every Month   Proper construction accounting is all about the details. The answers you need to operate and grow your company are in reports. Everything starts with cash because "cash is fact, profit is an opinion." All transactions in the bank account of your construction accounting system no matter if it is QuickBooks or Xero, must be assigned to the proper accounts: Income Job Deposits Payroll Taxes Cost of Goods Sold (Direct and Indirect Costs including Labor, Material, Other and Subcontractors) Other costs including permits, plans, bills from suppliers, and purchases on your personal credit cards Overhead These tasks form the solid foundation of your small business. As a small business owner, you have more important things to do than to keep your own books. We take care of your books for you, so you can get back to the job of running your business and generating profits.  1. Bank Reconciliation Reconciling your business checking account each month allows us to keep your bank account, accounting, and taxes up-to-date. Having us reconcile your account each month allows you to: Identify lost checks, lost deposits, and unauthorized wire transactions. Detect and prevent excess/unjustified bank charges and ensures transactions are posted correctly by your bank. Detect and prevent embezzlement of funds from within your company. Know how your business is doing. You can't really know unless all accounts are reconciled and properly accounted for on your financial statement. Manage your cash more effectively. Proper management of funds not only saves money, but it also makes money for you. Protect yourself. By timely reconciling and promptly objecting to your bank about any unauthorized, fraudulent or forged checks presented to your bank and paid by that bank, you can relieve your agency of responsibility for the shortfall and transfer the risk to the bank. This reason to reconcile alone should be enough. Crime exists. Sleep Better. You will sleep more peacefully at night knowing your bank accounts are reconciled, in balance and that all escrow funds, accounts, checks, and disbursed funds are properly accounted for. 2. Generate An Income Statement An income statement, otherwise known as a profit and loss statement, basically adds an itemized list of all your revenues and subtracts an itemized list of all your expenses to come up with a profit or loss for the period. An income statement allows you to: Track revenues and expenses so that you can determine the operating performance of your business. Determine what areas of your business are over-budget or under-budget. Identify specific items that are causing unexpected expenditures. Like phone, fax, mail, or supply expenses. Track dramatic increases in product returns or cost of goods sold as a percentage of sales. Determine your income tax liability. 3. Generate A Balance Sheet A balance sheet gives you a snapshot of your business' financial condition at a specific moment in time. A balance sheet helps you: Quickly get a handle on the financial strength and capabilities of your business. Identify and analyze trends, particularly in the area of receivables and payables. For example, if your receivables cycle is lengthening, maybe you can collect your receivables more aggressively. Determine if your business is in a position to expand. Determine if your business can easily handle the normal financial ebbs and flows of revenues and expenses. Determine if you need to take immediate steps to bolster cash reserves. Determine if your business has been slowing down payables to forestall an impending cash shortage. Balance sheets, along with income statements, are the most essential elements in providing financial reporting to potential lenders such as banks, investors, and vendors who are considering how much credit to grant you. 4. Ledger Clean Up The general ledger is the core of your company's financial records. These records constitute the central "books" of your system. Since every transaction flows through the general ledger, a problem with your general ledger throws off all your books. Having us review your general ledger system each month allows us to hunt down any discrepancies such as double billings or any unrecorded payments. Then we'll fix the inconsistencies, so your books are always accurate and kept in tip-top shape. 5. Consultation Regular communication with your accountant ensures your issues and concerns are addressed. We are always available to spend time with you, so you fully understand how to interpret and utilize the financial information we provide. It is important you work with someone who has been where you are now and understand the accounting process and business challenges of a construction company owner.  In conclusion: Construction accounting tells you what is working and what you should do more of to make more money. Keep in mind, when your bookkeeper takes shortcuts in the data entry, for example entering bulk numbers from credit statements for expenses in bulk instead of entering each transaction - your Financial and Job Costing Reports are totally worthless. These basic tasks are critical to your business advancement. We remove your paperwork frustrations and monthly accounting burden so you can focus more on operating and growing your construction company.   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.  The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? 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 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.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? Click On The Button Below To Download A Free Guide  Business Process Management (BPM) For Contractors Need Help Now? Call Sharie 206-361-3950 sharie.com Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services We Are 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     Download the Contractors APP today from the App or Android store  

This Podcast Is Episode Number 0316, And It Will Be About Contractor Tactics On How To Avoid Payment Problems Construction companies need short-term liquid working capital such as cash, lines of credits, loans, owner financing, credit cards, supplier accounts, and other forms of money to conduct daily operations. Small construction companies with annual sales volume less than $10,000,000 and other requirements enjoy some benefits that are not always available to larger firms. Likewise, larger firms can leverage economies of scale. The larger your construction business grows, the more likely you could end up operating as a bank without the hundreds of ways to generate revenues from fee income and interest calculation that banks use. The most popular method designed by investors and developers and shrewd business people who understand the concept of divide and conquer is for contractors to get little or no down payment for a construction project, do all the work, including change orders and then try to collect their money. What often happens is that contractors hate paperwork preferring to keep everything in their head. Then when it comes the time to collect their money, they find themselves having to re-sell the job and talk their customer into parting with their money. It's been said: "The value of services rapidly diminish after the services have been performed," which is why highly profitable companies like McDonald's gets your money before they deliver your meal. Compare the success and profitability of a McDonald's franchise to most restaurants. The least popular method is getting work orders and contracts signed, and deposit checks before starting the project, because most of us were conditioned from childhood through adulthood and beyond not to ask for money. Some construction company owners are gung-ho about doing the work and yet are embarrassed about asking for money.  Here are the 10 most popular excuses for not asking for money: 1. The customer just signed the contract, and I haven't done any work yet 2. As soon as I need money I will ask for it  (see Cash Flow Diagram) 3. I don't want to look bad in front of my customer by appearing needy 4. I don't want to appear financially weak in front of my staff 5. My wife is good at managing what little money I bring in, so I don't need any just yet 6. I have personal and business credit cards to finance the work 7. I have many charge accounts at suppliers everywhere 8. My sub-contractors don't bill me until the end of the month 9. I have a little cash in savings I can use for a while 10. I have a line of credit on my house (wives hate and FEAR this one) Solution: Offer payment options Financing - Get set up at a bank and/or credit union that will offer to loan your construction client money for small projects under $25,000. They sign paperwork with the lender; you do the work and get paid. Accepting Credit And Debit Cards - It's like having an "Electronic Armored Car" on standby 24 hours a day, seven days a week ready to take your money to your bank automatically. If your QuickBooks is set up correctly, an invoice can be emailed to your client, and when they open it, there is an option for them to pay by credit card immediately. When is a good time for you to ask for payment? When the contract is signed - Ask for a deposit and record it in QuickBooks and on the Pay Application. We recommend one week of work as a fair deposit. To calculate it, take the contract amount and divide it by the estimated number of weeks to complete. For example: Contract $50,000 / 5 weeks = $10,000. Use this money for working capital and stop financing somebody else's dream. Progress Payments - Every week, perhaps on Monday, you could review the work that was completed the week before, issue a simple invoice or better yet give your customer a full payment application and get paid. Payment Application Summary Page Payment Application Detail Support Page Change Orders - Every change order has a clear scope of work and pre-determined price, which needs to be documented IN ADVANCE OF THE WORK BEING DONE and paid in advance. Sound strong, doesn't it? Well, change orders have a short-short shelf life...the value of the work and the motivation to pay for the work on all Change Orders rapidly diminishes after the work has been performed. This happens a lot because some of your customers think you should have read their mind and have known in advance they were going to want the change. Keep change orders paid early and often or Christmas may come early for your customer and not at all for you and your family. Final Payment - When the work is done, when you prepare the final invoice, you will credit back the deposit and either issue a small refund check or collect a small check. If you did everything right, you did not put any of your money into the project. How many projects can you support? Your money -  Make a list of all your cash and anything you can turn into cash: checking + savings accounts + credit cards + suppliers credit limit + home equity line of credit + other lines of credit + kids college fund + Christmas fund + vacation fund + loose change + gold + silver + jewelry + any other cash or anything that can be converted to cash.  Add it all up and that is how much construction work you can do and hope to get paid. Your client's money - If you operate on your client's money, your limits are now determined by your soft assets, business systems, and your hard assets including equipment and employees.  In conclusion: The right mindset and method will help you avoid client payment problems. Having owned and operated several construction businesses, I know how vital cash flow is to the success or failure of any business and especially construction companies like yours. Don’t ever finance your customer or client’s project by providing substantial amounts of labor, material, subcontractors, and rental equipment hoping to get paid later down the road. Get enough Job Deposits and progress payments so that you are always using “Other People’s Money” (O.P.M.) to pay for your construction projects.  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.  The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not?

This Podcast Is Episode Number 0315, And It Will Be About Bookkeeping And Accounting Solutions For The Busy Contractor   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. To make a lot of money in contracting, you need these three things, and that means paperwork: Since you got into the construction business because of your skills, Production is natural for you. If you do it slightly better than your competition, with proper Marketing and Accounting, you can make a lot of money. This is where we come in and help you succeed. Every construction company has common issues. To customize our service to your needs, we use a range of accounting tools and offer a variety of bookkeeping and accounting solutions for your business. I hope this list will give you clarity on what you need help with in your construction bookkeeping challenges (for more information please click on each photo): Bookkeeping Review A 36-Point list of the current issues with your bookkeeping file. If you are a start-up, handyman, trade, or general contractor and confused about the reports generated by your bookkeeper or accounting software and have questions like: How much cash I have in the bank? Who owes me money? Whom I owe money? What is my income for this year? Or What is my company worth? Then this is for you. Get a full, in-depth analysis and review of the biggest concerns you are having with QuickBooks or Xero and any other part of your contracting company. A comprehensive report only costs $29.95 and Contractor Bookkeeping Review with a 30-minute consultation costs $79.95, review with a 1-hour or 2-hour consultations are also available. Bookkeeping Trial Would you like to determine if our bookkeeping process will fit your construction business and test our services before outsourcing your accounting to us? Our $9.95, 14-Day Triple Play Trial might suit you. We will set up Xero, Workflow Max, and Xero Projects For Contractor for your construction company using your existing data. Trial count begins the day your account is set up. Payment Application QuickBooks For Contractors works well if you have a few simple invoices. The problem is when you get beyond two invoices - add some job deposits and change orders and the process gets really tricky because there's no "Magic Button" that will generate an invoice that makes sense to your client. These applications for payment invoices show the money trail from beginning to end in a way that your clients can understand and appreciate, which means you get paid faster and with less hassle. Buy it one time and use it as many times as you need, no need for license codes. It is designed from 1 to 15 consecutive applications and works well with Microsoft Excel or Google Sheets apps on your smartphone or tablet. Business Performance Report Recognize what's happening in your contracting business and how to take action when needed. Turn your accounting data into accounting intelligence. Assess your business performance, monitor trends, and identify improvement opportunities using a custom management and financial report produced from your bookkeeping files. This report will help you understand and improve your business profitability, cash flow, growth, and other Key Performance Indicators (KPI); and guide you in making better decisions for your construction company. You have an option to purchase the report for $29.95 or with Consultation starting at $79.95 for 30-minutes, 1-hour or 2-hour consultation are also available.    Outsourced Accounting Services We use QuickBooks Desktop In The Cloud for contractors who need extensive Financial and Job Costing reports while Xero Outsourced Accounting services saves us time in data entry which means substantial savings over QuickBooks. Our outsourced accounting work includes invoicing (Flat-Rate, Not-To-Exceed, Time & Material, Cost Plus), Washington State sales tax returns, payroll processing, quarterly tax reports, construction job deposits, work-in-progress, retention, residential and complex payment applications, liability insurance audits and business processes. QuickBooks Setup And Cost Codes Templates Have you had it trying to get QuickBooks to come up with Sales Tax Reports, Profit and Loss Reports, Job Costing Reports that make sense? This QuickBooks Set Up Desktop and Online Templates was handcrafted by a team of highly qualified Contractors, Construction Accountants, and Project Management Professionals for construction business owners like you who are using QuickBooks software. It's fast and easy to install, and your purchase comes with access to video instruction on how to set it up quickly (professional Installation is also available). Xero Setup And Cost Codes Templates Have you wasted time googling "Xero Online Set Up For Contractor" and gotten dazed and confused with all the free bad advice? Or did someone set up your Xero Online using the general guide? Chances are your Xero account is not set up correctly. We understand your frustrations that is why we made these templates available. You can spend hours figuring things out on your own, or you could do what you do best, make money in contracting, buy this template and be done with it. Your purchase comes with instructions on how to quickly import the accounts in less than 90 seconds.   Consultation And Training Our stand-alone consulting and training services are available as short as 15 minutes to 20 hours of consultation with Randal (you can schedule it in 1, 2, or 4-hour blocks spread out on different days). Focus on you and your needs and everything about you and your company and anything else you want to discuss. Everything in this meeting is all about you; because sometimes all a contractor needs is someone to listen. It is essential you work with someone who has been where you are now so together you can identify and remove the obstacles that keep you from achieving success.   Conclusion: We know how small, medium and large contractors work and think because we have spent many years as contractors before switching full time into Contractors Bookkeeping and Accounting Services. We have been where you are now which means we understand the day-to-day challenges you face. I have waited for hours for city and county inspectors to show and write off a permit and a hundred and one other things that happen in a contractors busy schedule. Those experiences plus many others are the soft part of what we bring to the table to help contractors. The amount of detailed construction accounting is based upon the size of your business now and where you want it to be in the future. We help a little or a lot depending on your needs and part of what I do is to help you understand what those needs are so you can make informed choices for your construction company. I look forward to being able to assist you with any option that best fits your business. 

This Podcast Is Episode Number 0314, And It Will Be About Proven Tax Reducing Opportunities For Your Construction Company Accounting has two sides: Internal Accounting (Management Accounting) - for making money. Its purpose is to help you operate and grow your business profitability. External Accounting (Tax Accounting) - for paying taxes. Its purpose is to prepare tax forms, report your income, and make sure you pay your fair share of taxes. Understanding the difference will impact your company's financial health and wealth. Both groups of accountants must know the relationship between your internal bookkeeping and the Internal Revenue Service, and the importance of paying the right amount of taxes. There are a lot of professional bookkeepers, accountants, and tax preparers and they all serve a different role in your business. In-House Bookkeeping Contractors who do not earn a lot of money see bookkeeping as overhead which costs money and therefore is a drain on profits so they get a cheap computer, tiny monitor, garbage printer, small desk and broken down chair that even the dog would not sit in and tell the bookkeeper this is all the company can afford. In an effort to get their money's worth the contractor assigns all kinds of additional tasks to the bookkeeper like running business and personal errands; delivering materials, supplies, and paperwork to the job site, make coffee, answer the phones, take out the trash and clean the bathroom. Anything and everything to get "value" out of the time and money that is being wasted on bookkeeping. One of the biggest challenges construction company owners have with an in-house bookkeeper is training them to work for your best interest, not theirs, and deliver consistent results and the reports you can trust day after day, year after year. Do you suspect your bookkeeper is overwhelmed trying to figure out how to do construction accounting? They cost you more than they are worth in salary, fees, and profits. If you cannot get accurate financial reports, chances are you're overpaying your taxes. Outsourced Bookkeeping The other option would be to outsource your bookkeeping. However, there are red flags that you need to watch out for when going this route. You need someone who specializes in your industry that can guide and mentor you. Today more than ever, remote access to your QuickBooks or bookkeeping file is essential to monitor your business profitability, any outsourced bookkeeping service who cannot provide you with access to a cloud-based environment is doing you a disservice unless you don't want to see your financial documents. Furthermore, remember the value of your security; the cost of proper bookkeeping combined with secured cyber information is priceless. Trust but verify - consider this when looking for an accounting and bookkeeping company. My thirty years of experience in the construction industry as a contractor, a construction accountant, and a profit and growth coach enabled me to identify these opportunities that you can seize to help with your business process and lower your tax bills: Use The Right Accounting Method Construction bookkeeping and accounting are entirely different from standard accounting systems primarily because contractors take their entire business inside trucks and vans to people's homes and perform their services, deliver, or install products. Finding the right bookkeeping and accounting solution that will do "all I need it to do" is a challenge for construction contractors like you. It all depends on how you get paid, the type of work your company does, and if you need financial reporting (such as Job Costing for instance).  Hire A Professional Construction Bookkeeper According to Malcolm Gladwell, author of the book "Outliers", it takes 10,000 hours of practice to master a skill. That is what your professional construction bookkeeper should have invested in practicing and learning to become competent and efficient in what they do. They continue to learn and supplement their knowledge with formal and informal classroom training, seminars, webinars, and related software applications - all related to construction bookkeeping and accounting. If your bookkeeper is untrained, who attended a one day seminar, watched some videos, took an online class, spent a few months working in an accounting firm, or is self-taught and believes in learning by experience (this means when they make a mistake you get to pay for it), then you almost certainly are spending a whole lot more in taxes than you should. Separate Bookkeeping And Taxes A good rule of the thumb is to understand that Financial Accounting, which is what needed for annual tax return preparation is not the same as Management Accounting which is what you need for Job Costing, Job Profitability, Budgeting, Forecasting, and Business Process Management (BPM). Income tax preparers earn money by filling out tax forms, not cleaning up QuickBooks or whatever bookkeeping software you are using. Most of them are not even familiar with QuickBooks let alone clean it up. Which means they could not care less if you are paying too much in taxes or if your QuickBooks file is a mess.  If you think your tax preparer will catch the bookkeeping errors, think again. This is not what they are paid to do so they will not spend time and effort to review the details (of hundreds or thousands) of transactions to make sure they're all entered in the right accounts. Be sure to clean up your bookkeeping file before taking it to your tax preparer. In conclusion: Your tax bill is based on reports produced from your accounting system which is managed by your professional construction bookkeeper. The only way to do it right is to start right. Understand the value of a proper bookkeeping setup for construction. Putting receipts in your bookkeeping software is easy. Entering them in the right account, so the reports are reliable is where the professional bookkeepers excel the most. You worked hard for your money, don't let somebody waste it. If you are having cash flow problems, you could be paying too much in state, federal and local taxes and we may be able to help. Remember, if you are a contractor, you deserve to be wealthy because you bring value to other people's lives.

This Podcast Is Episode Number 0313, And It Will Be About Construction Company Technology Practices To Reduce Financial Management Cost There is a thread of success weaved into the fabric of the most successful, wealthiest, consistently most profitable house builders, general contractors, residential remodel contractors, flipper house contractors, commercial tenant improvement contractors, sub-contractors, specialty contractors, handyman, architects and designers and over 100 other types of contractors and construction-related companies - they adapt to a continually changing environment. Everything in the Universe is in balance, and parts of it are easy to see and understand and some parts are hidden in plain sight and require some effort to see and understand. Your ability to look beyond the initial statement and understand the hidden meaning why successful contractors adapt to change to survive and thrive will serve you well. The truth is the most successful, wealthy, highly profitable construction contractors don't like change. From the mid-1970's until 2000 we owned and operated several construction companies and a few Plumbing Contracting companies. Six keys helped us outperform other contractors in terms of cash flow and profit year after year regardless of the economic conditions: I was raised in a construction family I majored in Accounting in the first of several Universities I have attended Subsequently I have become a perpetual student of Construction Accounting We understood the difference between Regular Accounting and Construction Accounting We understood the value of being Process Dependent Vs. People Dependent We embraced technology that reduced dependency on people by automating a process Here's where being adaptable counts, construction company owners like you should begin to take note of technology advancements that you can use to implement in your business processes. Listed are some of the ways we can help you: Smartphones - Keep two  - one dedicated for business use and one for personal use. Evaluate your business smartphone and all of the "apps" and discard the ones that are not helping you make money. You can also download our free app here. Cloud Backup - Use an automatic backup service to store files, documents, contracts, job site photos, change orders and everything else you need to operate your construction company daily in the cloud. It is imperative to include all of your computers, desktops, notebooks and any web-enabled device that contains data. There are several services available (no one is best for every contractor), we can consult with you to determine the best one to serve your needs. E-Mail - Outlook linked to a cloud server means you can have all of your standard email accounts, G-Mail, Yahoo, Hotmail, etc. downloaded automatically into one Outlook program on your office desktop and laptop, and your desktop and laptop at home. This gives you the ability to access, automatically synchronize and manage all of your emails wherever you are. Time Card Calculator - Upgrade from paper-based time cards to web-based time card calculator that can be accessed from any web-enabled device including smartphones, tablets, desktops, notebooks, etc. For more information about the only web based time card calculator we trust for our contractors' bookkeeping services firm staff, that links to QuickBooks and works without messing up your QuickBooks; and will dramatically improve your Job Costing Reports and save time and labor click here. Cloud-Based Financial Reports - Without having to open QuickBooks for contractors and get lost in the muck and mire. We have a program that links to QuickBooks and allows contractors to visit and very straightforward yet powerful secure portal website to review, analyze and run hundreds of financial reports including ratios without opening QuickBooks and risk destroying the underlying data. It is updated every 24 hours and provides everything you need to operate and grow your construction company. Click here for more. Online Bill Payment And Customer Invoicing - Online invoicing and bill paying is saving contractors like you time and money by streamlining your entire processes which means you are getting paid faster and put more money in the bank to operate and grow your construction company. With the optional bill tracking and bill payment services you are increasing bottom line profits by avoiding late fees and taking advantage of vendor discounts which in some cases can generate 36% Return on Investment! Learn more about this by clicking here. Cloud Based Contractors Bookkeeping Services - The two best contractors bookkeeping services software solutions are QuickBooks Desktop Version In The Cloud and Xero Accounting Online. The main difference is the Job Costing Reports - if you need Job Costing Reports QuickBooks Desktop Version In The Cloud Works Best. Otherwise for simple contractors bookkeeping services Xero Accounting Online works best. For a complete overview of QuickBooks Vs. Xero click here. Paper Reduced Office - It will be a while before your entire construction company is "paperless", however, some technology solutions can substantially reduce the need for paper. Each page of document you print costs roughly $0.50 which includes the cost of labor and vehicle expense to go to the store and buy the paper and bring it to office, the office workers and bookkeepers labor, printer ink or toner, electricity, storage cost to print something on the paper and the eventual disposal cost. A more efficient money-saving alternative is using scanners, emailing smartphone pictures, and cloud-based document storage and retrieval. We even have methods to link PDF documents to an individual transaction in QuickBooks Desktop Version In The Cloud and Xero Accounting Online. To learn more about paper reduction methods click here. We can help you implement the right technology for your construction company. This is only a short list of the hundreds of ways we can improve your cash flow and bottom line profits so you can put more in the bank to operate and grow your construction company. I hope you enjoy them and get value from them.

This Podcast Is Episode Number 0312, And It Will Be About Job Costing For Small Construction Companies - The Key To Profitability  Job Costing, in its simplest terms, links the money you spent on a job against the money you received to do a particular job. It is the process of tracking all the costs related to a project to determine its profitability. A common misconception is that Job Costing is only for large contractors with a dozen employees. Since keeping track of all costs and expenses involves a lot of additional work for contractors and field workers, and most construction company owners do not see an immediate benefit, some contracting businesses still haven’t implemented Job Costing procedures despite the financial risks. In Construction Accounting, there are two types of Cost of Goods Sold (COGS) – Direct Construction Costs and Indirect Construction Costs. Both are equally important in generating useful Job Costing Reports.   (Everything that is not Overhead or Other Income and Expense falls under Indirect Construction Costs) With this in mind, it is crucial to establish a Job Costing Library and understand the value of investing your time, energy, and resources to build and maintain one. Knowing in advance which jobs have the highest probability of success and profit before getting involved moves your construction company from an unpredictable roller coaster to a peaceful merry-go-round. The key to a useful bid is having accurate job costs. Your estimator needs access to the past job histories to accurately calculate the construction costs. Contractors with annual sales volume under $5,000,000 are not likely to have a $100,000+ a year professional estimator on staff so do not expect them to be 100% accurate.  The important thing is to get the final job costs as close as possible to the project estimate and budget. The only differences between your bid and the finished project should be overhead and profit. Estimates Vs Actual Reports Money Out – what you thought the job would cost and what it did cost Money In – how much you collected The difference between Money In and Money Out Weighted Average Of Indirect Costs And Overhead Next, you need to calculate the weighted average of Indirect Costs and Overhead, ignore Indirect Income and Expense as it has no bearing on Job Cost Calculations, to determine a metric you can use to allocate those costs to find the fully burdened Job Cost. Example: Job 001 Money In $1,000 Money Out $500 Difference $500 Annual Sales $100,000 Annual Indirect Construction Costs $20,000 Annual Overhead $10,000 Job 001 = 1% Of Annual Indirect Construction Costs $200, ($20,000 X 1%) Job 001 = 1% Of Annual Overhead $100, ($10,000 X 1%) Job 001 = Burden $300 ($200 + $100) Job 001 = Profit $200 (Money In $1,000 - Money Out $500 - Burden $300) With this information, you can create more accurate quotes when you bid on future jobs. Job Costing will help you identify the most and least profitable areas of your construction company and most profitable clients (and projects) and outsource or subcontract the less productive aspects of your contracting company. If your construction company is not paying you an owner's salary, what it would cost to replace you, and at least 15% return on your investment then you need to rethink the intrinsic value of your Construction Accounting System. Over to you: Over to us: Our Account-based Job Costing and Job Profitability Reporting option is the best value for contractors working on short projects that last between one hour and two weeks and do not need Estimates vs. Actuals report. The Job Costing and Job Profitability Reports are based upon the direct and indirect cost codes in the Chart of Accounts module we use to set up your QuickBooks for Contractors file, which is based upon the type of construction your company performs. Item-based Job Costing and Job Profitability Reporting is more comprehensive and recommended to contractors working on longer projects like residential remodelers, land developers, and spec home builders. This option is based upon direct and indirect cost codes in the Chart of Accounts module we use to set up QuickBooks for contractors and we include data from the Items List with breakouts for Labor, Material, Other Charges, and Subcontractor costs. In conclusion: Job Costing is a lot of work but the results are worth it. It requires a constant balancing act between profitability and competitiveness. Knowing how much profit you made on your last job will make you earn more on the next one. Thus, mastering Job Costing is critical to your business.    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.  The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? 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    

This Podcast Is Episode Number 0311, And It Will Be About Five Common Security Questions Contractors Ask Before Hiring Our Service  Right now, if you are like most construction company owners, your construction accounting records are in an unlocked file cabinet, or worse, sitting on someone's desk. As an accounting firm, our client's privacy and security remain our top priorities and are continually looking at ways to develop and evaluate our system to prevent breach and network holes. We utilize 128-bit Secure Socket Layer encryption which ensures that all data passed between the web server and browsers remain private and integral. There are two levels of restrictions and passwords must be entered before you can get your data file. At Fast Easy Accounting, Cloud Security is not an option- it is a fundamental requirement. We only use Intuit Approved Commercial Hosting Services. We have taken steps to select the best to ensure that your data is as secure as that found for online banking and financial institutions. Their Cloud Security rests on U.S. based servers, backups, data centers, and technical support. Not one aspect of our Cloud security relies on outsourced services or offshore locations. Online Data Protection is critical to being able to provide you reliable and professional grade outsourced contractors bookkeeping services. With this in mind, let me assure you by answering the common questions contractors ask regarding cybersecurity, data, and financial concerns: Where are the bookkeeping and accounting done? Our headquarters is in Lynnwood, Washington, where everything's done. We have a team of qualified construction bookkeepers, construction accountants, and support staff. Everyone understands the importance of maintaining the integrity of your data and nothing is sent out. Can other people access my data? No one can have access to your data without your company's express permission; this includes your CPA, advisors and specific employees. We can also set up restrictions so that specific functions can be limited to those you do allow access. Can I access the QuickBooks Desktop version securely in the cloud? Yes, we outsource to an Intuit approved commercial hosting environment so we could offer our clients all of the benefits of the full desktop version of QuickBooks accessible online 24/7, and it has been a huge success! Will you be managing our money? The only money we touch is our Fees.  Auto receives for Monthly Outsourced Accounting and Bookkeeping Services on the 1st day of each month.  Auto receives for Weekly Outsourced Accounting and Bookkeeping Services on Monday of each week.  You sign all checks. We do not touch your money. Will I lose control of my company by outsourcing my bookkeeping? Absolutely not! You maintain 100% control of all the decisions. You decide who gets paid, when, and how much they are paid. We provide you with the list of payables and record the transactions, but you approve all invoices for payment and sign all checks and control your credit cards. The cost of good bookkeeping combined with secured cyber information is priceless. Having clean, up-to-date bookkeeping records, accurate financial reports, and protected data all make up for a good night's sleep. By eliminating all your paperwork frustrations and providing your business document security, you can focus more on doing what you love and being with the ones you love. 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.  The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? 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. Need Help Now? Call Sharie 206-361-3950 sharie.com Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services We Are 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  Do-It-Yourself QuickBooks Setup

This Podcast Is Episode Number 0310, And It Will Be About Contractor Bookkeeping: Outsource Or Do It Yourself I would like to start my blog post by asking you to reflect on your WHY. Pause for a while and think about the reason or reasons why you started your business. I highly doubt that your answer is rooted in accounting tasks or involved any type of bookkeeping project at the slightest. It is apparent that you’re passionate about what you do and you love working in the construction industry, be your own boss, and have the freedom you’ve dreamed of. I admit, small business owners - like myself, have learned to make the most of the resources we have. And as an entrepreneur, tend to take on the challenge of wearing multiple hats. Marketing your business, answering phone calls, responding to emails, scheduling appointments – to name a few. However, I am reminding you now that being a company owner and doing your accounting and bookkeeping requires a totally different skill set from being a construction expert in your field. When it comes to your financials, it would be wise to take a step back and let someone who specializes in bookkeeping do it for you. Not just any accountant or bookkeeper, but see to it that they are Construction Bookkeeping and Accounting Professionals. Questions to ask yourself: Do I have experience in bookkeeping and/or accounting? Outsource: Working with a knowledgeable and experienced bookkeeper that specializes in your industry will save you time in setting up your system and processes, so it’s easier to get started. DIY: You may have a bit of a learning curve. Start by familiarizing yourself with construction bookkeeping and accounting processes. Create a system and an everyday routine when it comes to managing your paperwork. What kind of software and applications should I use? Outsource: Your construction bookkeeper will be able to help you out and can determine which accounting software will work best for your business, provide you with extensive training and support, and share tips and tricks on how you can optimize it. Fast Easy Accounting supports several different software and applications. In particular, QuickBooks or Xero for construction depends on how you get paid, the type of work your company does, and if you need Job Costing. DIY: This is where it gets tricky. As I have mentioned, using a particular software depends on the kind of contracting business you have, what you need out of it, and how much time you are willing to devote to learn and use it. Keep in mind that using a more popular and in-demand software and applications have a significant advantage in case you are having some issues. Tech support should be readily available, and if not, a quick Google search can lead to video tutorials and community answers. Can I process payroll for my employee/employees? Outsource: During a regular pay schedule, when time cards arrive on time, everything runs smoothly. Payroll processing is a complex task and shouldn’t be put off because it can lead to burdensome complications especially when time cards are late or you have to deal with overtime management, entry errors, employee loans, and ineffective time records. Fast Easy Accounting offers Payroll Processing with options such as Paper Check, Direct Deposit, or Debit Card. DIY: To learn how to process payroll for your employees is one thing, but to deal with common payroll issues I specified is another thing you need to add on your to-do list even when you’re already busy juggling other tasks. How do I generate Financial Reports? Outsource: Contractor Financial Reports such as Profit and Loss, Balance Sheet, Cash, Receivables, Payables, Job Costing Reports, and Job Profitability Reports all depend on proper bookkeeping set up from Day 1. It’s easy to pull a report based on the entries and make use of it whether you want to understand when and where you are making money, or you need to present your financials to the bank or CPA. DIY: It is easily accessed and generated from your accounting software. The real question here is, how reliable are your reports?  A generic chart of accounts that comes with your QuickBooks software, for instance, is not customized to your construction business needs; thus transactions are often assigned to improper categories resulting in inaccurate reports. Conclusion: The ability to produce more fieldwork is dependent on your construction skills but more on your ability to plan your work and work your plan. Contractors like you are skilled in construction but not usually in construction accounting. As Construction Accountants, we understand that there are “too many tasks” and not enough time in the day. This is why we develop systems and processes, use software and apps to make it as fast and easy as possible for our clients to manage their business. In the end, it’s not that you can do your own bookkeeping, it is about the best use of your time – whether you are talking to a prospect, looking at a job, creating an estimate, writing an invoice, collecting the money, cleaning your truck and even sleeping. We offer construction bookkeeping and accounting solutions at our online store. We have QuickBooks and Xero set up templates for those who would like to do their own bookkeeping, we have packages available to choose from when you need to outsource it to us, or opt to have an in-depth review of your current bookkeeping set up. You can always schedule a free one-hour consultation with me by calling our toll-free number 1-800-361-1770 or (206) 361-3950 or send me an email [email protected]. We help a little or a lot depending on your needs. I look forward to being able to assist you with any option that best fits your company.  Please feel free to download all the Free Forms and Resources that you find useful for your business.   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. Call 206-361-3950 or [email protected]

This Podcast Is Episode Number 0309, And It Will Be About Profit Draining Invoice Errors Contractors Make Without Realizing It Creating an invoice for the entire project seems like it is the simplest way to track payments and have the current balance. The harsh reality is that if all of the work is NOT done, accounts receivable is reflecting a balance due that is NOT REAL. Without proper tracking and matching of income and expenses, most construction companies never know if they made a profit until the job is over. However, due to your work’s nature, as construction contractors provide services on a per-job operation, issuing invoices make it all the more challenging and difficult than it has to be. The good news is that it doesn't have to stay that way. Consider the following invoicing errors contractors make and take actionable steps on how to avert them. Format You and your entire staff need to stick to a single standard invoice template that everyone will use throughout the job transaction. Not only will this make your paperwork look professional, having a uniform appearance gives your company credibility and integrity. Your client will appreciate how clear and straightforward it is to understand and check the payment details. A confused client will ask more questions that could’ve been avoided if accounts are itemized and charges are explained. Procedure Terms and conditions of payment should be discussed before starting a project. When a system is in place, it seems effortless to remind a client regarding prompt disbursement of money. Whether you incentivize with discounts for early payment or penalize for paying late, it all starts with formal documentation as agreed upon by both parties. Relying on good faith alone won’t pay your bills especially when you’ve completed your service on time. Date/Department Knowing when and where to send the invoice is an essential part of the procedure that changes with each job you take. Eliminate any confusion right from the start by taking note of the payment terms you’ve made, the company name, department, or contact information you are directing your invoices to. Filing Failure to back up and save copies of invoices invites trouble and disaster. Maintaining an accurate and up-to-date record of issued and paid bills will keep you from stress in the future. Use a numbering system to track and manage your invoices efficiently, this will save you time when you need it in case of customer disputes, pending accounts, and sending duplicates. Employee Human error, though inevitable, could at least be avoided in this case. Take time to develop specific rules and documentation for you and your employees to follow when invoicing a client. Investing a few hours learning accounting software is never a bad idea. You can start by asking your construction accountant to provide you and your crew with training and best practices so that everyone can deliver paperwork in accordance to your company’s standard. Conclusion: As a reminder, billing your clients is dependent upon your signed contract and sending invoices is based on the details of this agreement. Preventing these errors will undoubtedly help in speeding up the process of you getting paid and more so, getting paid on time. If you don’t know what to do or how to start, I recommend our Contractor Bookkeeping Review and Consultation with Randal. It is one of the most sought out services we provide and have helped many small construction business owners across the United States. To help with invoicing, Contractor Payment Application is also available in our store. Helping Contractors around the world is one of the reasons we added the Fast Easy Accounting Store.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. 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. Call 206-361-3950 or sharie.com

This Podcast Is Episode Number 0308, And It Will Be About Three Things You Need To Deliberate When Starting A Contracting Company Would you like to start a construction company but can’t seem to move forward with your plans? There are a number of people who pass advice on how to start a profitable construction company, however, very few have actually done it. Hardly any of the ones that had done so had a clear understanding of where they were making or losing money, some have never gotten past the point of owning a J.O.B. (Just Over Broke) into a real company with employees who actually generated more money than they cost starting up. I am one of the few that has done it all and hopefully, this article will be of use to you. First, make sure you are open to a Paradigm Shift. According to the Merriam-Webster online dictionary, a paradigm shift is an important change that happens when the usual way of thinking about or doing something is replaced by a new and different way.   Three Steps To A Paradigm Shift Unfreeze – Being open to a new idea that is an agreement with your core values Change State - Arriving at a new understanding of something. Education is the foundation for shifting paradigm. In ancient Greece, Socrates argued that education was about drawing out what was already within the student. "I cannot teach anybody anything; I can only make them think." Refreeze – Closing the portals of your mind for now Since 99% of your success will depend on whether you follow directions or try to re-invent the wheel, consider the following fundamentals first to avoid unnecessary risks: First, decide what you want from your construction company. Do you want to get rid of the boss? Do you want to work in a more structured environment? Are you sick and tired of working for the boss's son or daughter? Do you want to make a lot of money? Do you just want to make enough money to pay the bills and enjoy a vacation now and then? There are no wrong answers, whatever is right for you is the right answer; however, you need a reason to do it otherwise when the going gets tough, and you will either win or lose depending on your reason. With a big enough reason, you will find a way to win. Write it down on a piece of paper, it doesn’t have to be perfect or complete. Second, put together your board of advisors.  Most of them are FREE or very low cost while you are just getting started. They are from the Five Key Areas of Business Success:   Find a Commercial Banker you can work with Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The really good news - they are on the bank’s payroll. Tell them you are working with a construction accountant that is involved with the bookkeeping and accounting and that you have a totally separate firm that prepares your Annual Federal Tax Return. Bankers like to know you are using the tried and true method of "Trust But Verify" to help limit fraud and errors. We recommend you have different companies doing your bookkeeping and your Annual Federal Tax Return because that will provide you with checks and balances in your system. In addition, if you need to replace one or the other it will be a lot simpler. Plan on meeting with them on a monthly, quarterly, semi-annual basis, whatever works for both of you and bring two printed copies of your Profit & Loss and Balance Sheet for them to review with you. Always keep your commercial banker updated about any major changes that may affect your business or personal finances. NEVER SURPRISE YOUR BANKER!  Ask your commercial banker these questions: Is there anything on the financial reports I should pay closer attention too? How can you and the bank help me run my business more profitably? Who is your target customer and how can I refer new customers to you? No matter what size your construction business is now, whether you need a loan or line of credit or not, you need to understand that lending money is only part of what the banks offer to help your business succeed. Likewise, lots of people need all construction services and some of them will ask their banker for referrals. Find a Construction Accounting Specialist You may not need one in the beginning but don’t wait until you have big problems to find one. Outsource as much of your construction bookkeeping, payroll processing, complex invoicing, and monthly and quarterly tax reports as you can afford. It will free up time to do what you do best and the books will be kept in order. Make certain they have current technology which means they have equipment in a secure server farm that allows you remote access to your QuickBooks desktop version on the internet. You do not want the QuickBooks Lite Online Version because you need to see the same QuickBooks software you have on your desktop now. The only difference is you have remote access anywhere you have an internet connection and your construction bookkeeper can get to it from their office. No construction bookkeeping service needs to ever be in your office unless you invite them. Your outsourced accountant needs to provide an easy way to get the paperwork to them with fax, scanning, email, and in person. Make certain they are in an office building, not their home. A more professional environment attracts a better class of professional bookkeepers. And the building needs to have a secure lock box that allows you to drop paperwork off 24/7/365 when it is convenient for you, not just during business hours. Obviously, scanning all your paperwork into a paperless secured server and link source documents to the transactions in QuickBooks for easy retrieval later is a given. This makes it easy for you to get to it remotely, see it, print it or email it without having to dig through a file cabinet or pile of papers. Finally, they need to be available to meet with in person to discuss how your business is doing. And they need to be able to explain in easy to understand language what your Financial Statements, Profit & Loss and Balance Sheet mean. Your Income Tax Preparer If your bookkeeping is solid you can use any qualified tax preparer to fill in the blanks and generate the return. I used to believe only a C.P.A. (Certified Public Accountant) could fill out a tax return. Now with the advances in technology and properly set up QuickBooks, I no longer feel you need a C.P.A. for this. Your Commercial Attorney If you own and operate a business, you absolutely positively need a commercial attorney to: Setup your business entity, LLC, Inc. or whatever is best Review contracts you will ask your customers to sign Review contracts you will be asked to sign Keep you out of trouble wherever possible Keep you out of litigation if at all possible Setup your partnership agreements Two kinds of contractors: ones who have a commercial attorney and ones who will get one after having locked horns with somebody else's commercial attorney. A good commercial attorney will draw up employment agreements, construction contracts, review insurance policies and more. A qualified commercial attorney is worth every dime they charge. Your Financial Planner Eventually, you will want to leave your business and pursue other interests so plan ahead now. You could start with Quicken software and play around with it. You can learn a lot about investing, and run some scenarios that will show you how much income you will need to retire and develop an action plan. Once you have some basic knowledge, get a Certified Financial Planner. If you do not have a lot of money, ask your commercial banker to recommend someone at the bank. Third, understand Construction Psychology It is one thing to be a carpenter, plumber, electrician, framer, drywaller, painter or any other master crafts person and quite another thing to own a construction company that does those things. When you are doing the work, you have only one thing to worry about, getting things done. And things tend to do what you want them to most of the time. When they don't you simply use more brute force. When you are the owner of the company, you will find yourself dealing with people, and people can appear to be illogical, unpredictable and until you understand them and learn how to lead them, they will drive you crazy or you will degenerate into a grouchy, irritable, mean, nasty troll with your face in a constant state of anger and frustration. We live in a world of what is, not what should be, and when we understand there is a "Hall of Justice" but not a "Hall of Fairness" we are better equipped to succeed. The last thing I leave you with is "knowledge is power". Write important things down as you gain insight, make notes of your meeting with your board of advisors, and never stop learning. You have what it takes to be successful and you deserve to be wealthy because contractors like you add value to other people's lives. We stand ready to serve when you are ready to contact us.  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.  _____________________________________ Now a shameless plug from the sales and marketing department here at Fast Easy Accounting. We offer: Outsourced Construction Accounting | QuickBooks Setup Files, Chart of Accounts, and Cost Codes | Xero Set Up And Cost Codes | Consultation And Training | www.FastEasyAccountingStore.com I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have, for now; please do me the honor of commenting and rating podcast where you are listening to it and feel free to tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. Contractors Like You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! 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! If you would like to learn about what makes construction accounting different from regular accounting, please visit www.FastEasyAccounting.com/ca Please feel free to call Sharie 206-361-3950 or [email protected] 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!    If you are Thinking About Outsourcing Your Contractors Bookkeeping Services you are invited to download a guide to finding the right contractor bookkeeping service to fit your particular situation at www.FastEasyAccounting.com/hs   Thank you very much, and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast where We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0307, And It Will Be About How To Prepare Your Construction Business To Go From Local To Regional Scale The construction industry offers a lot of opportunities. Entrepreneurs developing a construction business have an insatiable desire to grow and expand. Even though this domain offers a lot of opportunities, it brings also a lot of challenges in the same package. Therefore, when you decide to expand your construction company from local to regional, there are a lot of things you need to consider. This article is going to show which strategies you can apply to have a successful transition. First, you should understand why you need to expand your construction in another city. Below you can find a list of questions you should answer before deciding if you are prepared for this move. Steps to Follow Before Expanding on a Regional Level What are your customers asking?  A successful construction business is the one that develops long-term relationships with its clients. When you start a business, one of the first steps is to determine your target audience and understand their requirements and expectations. Therefore, when your clients start asking you to deliver your services in other geographical areas, then it means that you need to expand regionally. Is your market saturated? Even though your clients are not asking you to collaborate with them in other areas, this doesn’t mean that you cannot expand your construction business. Any local market has its competition, especially when we are talking about a productive industry like construction. Therefore, it is obvious that, no matter how big your business is, you won’t be able to cover more than a certain percentage of the entire market. Thus, you will reach a moment when your market will be saturated. This is a clear sign that you need to think of an expansion strategy. Will it help you to leverage your expertise? If you want to be successful in the construction industry, you need to be innovative and unique. Whether you are using a different internal system, or your people have special skills, you need to stay ahead of your competition. Therefore, expanding your construction business to a regional level will be a great opportunity to leverage your expertise. Will this expansion motivate your key employees? One of the biggest difficulties construction companies face is motivating their key employees. What is more, it becomes even harder to find good people to work in this demanding environment. Therefore, once you find them, it is very important to keep them motivated. Thus, when you decide to move from local to regional, think also from your key employees’ perspective. If this may represent a motivating factor for them, then this is a good reason to build your business in a different city as well. Are you ready to fund your growth? Even though your construction company is already making a nice profit, growth will always need an investment. For instance, you may need upfront capital to acquire an existing company. Or you may also need money to buy or rent new equipment to start big in the new location. Therefore, before jumping into expansion, you need to think carefully about how your strategy will look and be ready to fund your growth at a regional level. Challenges to Overcome When Expanding a Construction Business You can learn a lot from the mistakes other business owners do. So, if you don’t want to repeat them, take a look at the pitfalls mentioned below and analyze your exposure before venturing into expanding your construction business. Underestimating the efforts necessary to succeed When you open a new branch in a different city, you need to be ready to invest a lot of time, energy, and money to make sure that you will be successful. Opening an office in a different city is a long-term investment. So, you need to be prepared for the entire process. Entrepreneurs should be ready to translate their marketing content and materials into different languages if they want to approach an expanded target audience. It is very important that people know about you and understands what you have to offer. Underestimating your competitors You may be the strongest construction company locally, but this doesn’t mean that once you expand you will keep your top position. The power of the local competitors is usually underestimated by most business owners. But, they have a very important advantage. They know the market very well and have strong local connections. Therefore, even though your work processes and equipment are superior, you will need some time to make clients understand you are trustful, and you really bring something new on the market. Moreover, once you have discovered who your local competitors are, you can analyze their progress on the market and understand what they did wrong and what was good that placed them in this position. In addition, you also need to be prepared for a price drop. Your local competitors will have a primary interest to make you fail. So, they will most probably drop the prices to achieve this goal. Hiring the wrong branch manager When you open a branch in a different city, you need a very strong branch manager. You can choose either a local person who knows the market very well and is well-connected with the key stakeholders. But, you can also offer this opportunity to an existing employee who will find it very motivating and put all his efforts into making your business a success. Either option you choose, you need to be mindful in offering him or her an incentive to win. Your branch manager should treat this business as it was his. Thus, he will feel motivated to do everything he can to achieve your goals. In conclusion Construction is definitely not a game where you grow or die. Yes, growth can increase your profits and strengthen your brand on the market. But, if it is not done properly, growth can also kill your business as you might not be prepared for the investment and challenges which will come. About The Author:  Kristin Savage has graduated from Columbia University where she was majoring in Germanic Languages. Besides English as her mother tongue, she also speaks German and Dutch fluently. Currently, Kristin is studying Spanish and planning to obtain her Ph.D. in Applied Linguistics since she is interested in how to use her practical knowledge of language processes in everyday life. She has been a writer at Pick Writersfor a few years and is known for her thorough approach to all the tasks and aspiration to fulfill assignments with flying colors.  --------------------------------------------------------------- We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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

This Podcast Is Episode Number 0306, And It Will Be About How To Manage Late Payments For Builders, An Expert Guide One major headache for builders are the late payments of invoices. Builders seldom get the payment for their completed construction work at the right time and date. Professionals have recorded multiple payment cases and the slow paying issues are at the top of it. The unacceptable idea is that contractors seem like the last person to receive the reward for their hard work. Can you imagine finishing a building work without receiving a penny? Disappointing, isn't it? Cash flow is king! Numerous startup builder companies are depending on paid invoices of clients. These payments are the bloodline of the entire business. Therefore, unpaid invoices can affect the production of work. If you feel like your client is giving you a hard time with obtaining the payment, check out the following ways to secure the deal. 1. Review the signed construction contract First, always remember not to settle with a simple handshake. Reviewing your signed construction contracts keeps you on track. With all the construction statements and clauses, you can be aware of where to stand in terms of payment. A contract makes your legal rights secured. It also helps you in various ways especially dealing with slow-paying clients. In addition, it is better to discuss your concerns with the client. This is the easiest and effective way to deal with late issues for contractors. Asked the reasons why you are still not receiving the paid invoices in a proper manner. Payment can be an awkward topic but you should speak up. 2. Put late payment fees in payment terms Having a construction contract that sealed the oral agreement is important because this can guarantee efficient payment terms and project management. One way to secure the payment for your work is to add a late payment fee in your contract. Stating the fees in payment terms is a must. At your meeting and planning stages, it is better to mention the fee because it can avoid building disputes. Several builders add at least 2% penalty if one fails to pay within 30 calendar days. Some add 3% for 60 days. But you can always make your own terms at the special conditions part. All is depending on your negotiation with the client. 3. Good communication is the answer Construction is a temporary endeavor. You will have to work with the people you just have met for days. Having a clear and open communication is always the best way to deal with it since this can lead to a harmonious client-builder relationship. Always be vocal with contractors whenever you see something you don't like or different from the plans. 4. Settle with a fixed payment schedule Construction is a complex process as it demands patience, hard work and investment. The client and builder themselves have other things to be mindful of, hence establishing a fixed payment schedule can lessen the stress. A payment schedule is an actual date for claiming and releasing the payment. 5. Taking the situation to court Taking legal action is your last resort. If you think your client is ripping you off, it is time to take the situation to court. This is not just a waste of money and time. You just need to consider the idea that you could get the payment plus the compensation. The compensation is for all the troubles that have caused you for not paying on time. The effects of late payments in construction projects The small-scale construction businesses have a huge part in the industry as a whole. They occupy a massive chunk in the field. And if, for instance, most of these businesses have gone bankrupt, then, the construction world will suffer a significant loss. Planning your business growth can be easy if you are on top of your cash flow problems because you can put your attention to expansion and variations in revenues. Similarly, issues with payments can affect the work deadline. It can impede the productivity of work and the contractors’ ability to perform and accomplish work on a schedule. The project success can be at risk too. Therefore, we can all say that payment is a joint responsibility of the client and builder. For instance, if a builder fails to notify the client and gives the billing statement, there is no actual reason to pay up. However, if a client neglects and refuses to pay, he/she is probably not satisfied with the work result. Focusing on your cash flow Therefore, the main focus of builders should be on establishing a stable cash flow. Late payments are sometimes unpreventable. Make sure that the payments from clients are not the only amount running your business. Learn how to market your building services and implementing good project management. By doing this you can identify the factors affecting your business and prevent possible future failures. About The Author:   John Dela Cruz is the Principal Construction Lawyer of Contracts Specialist, Founder, and CEO of Small Builders Construction Software based in Sydney, Australia, and an industry influencer. He has been helping multiple homeowners, builders, and other tradesmen across the field for almost 10 years. He holds several industry management roles including Divisional President and Councillor at Master Builders Association NSW.

This Podcast Is Episode Number 0305, And It Will Be About 5 Ways Drone Technology Is Revolutionizing The Construction Industry Technology is shaking almost every facet of our personal and professional lives. Whether you are a tech enthusiast, a tired engineer or a corporate cog who loves the status quo, you can barely live without technology today. Automation, construction accounting software & accounting software, computerization, and artificial intelligence are now the order of the day. Then there is the drone technology. Initially, drones were used for aerial photography. But today, drones are finding broad applications in the construction industry. They are changing the way project managers operate a product. Drones make things accessible across different sectors of building development and infrastructure. Here is a quick round up of how this technology is revolutionizing the building and construction industry around the world. 1. Faster Site Surveillance and Inspection As a project manager, you need to make sure everything is going well. You need to oversee all the construction activities including surveying. But you might not have the time for doing all that and still deliver on your core project goals. Some construction sites occupy vast spaces. Others are situated in far-flung areas. Sometimes, you have to inspect terrains that are hard to access by humans. You need a better solution to help you maintain a close vigil of the site from surveying to setting up to actual construction. Thanks to drone technology, it will be pretty simple to inspect every stage of development and also issue reports that would help make work more efficient.  Again there is the vicious issue of theft that also gives project managers sleepless nights the world over. There are always expensive machinery, plants, and tools that can be plundered by outsiders or a case of an inside job. Drone technology helps in keeping surveillance of the construction site including all activities within and outside the site. 2. Efficient Project Management For increased productivity during the execution of your projects, you need to be highly efficient. There are some ways a diligent manager can implement to achieve utmost efficiency. But one of the best solutions you can embrace is adopting the use of drones.  From project marketing, surveying, board meetings, workforce management, and communication, drones are useful everywhere. Moreover, drones are useful when it comes to handling multiple sites. Instead of a manager visiting every single construction site, he will just deploy a drone that relays a compressive view of the construction site in question.  Additionally, some construction projects have a performance and attendance management software system which manages the performance of teams and individuals for ensuring the achievement of the overall project goals. As such, a drone would be linked with the performance management system to analyze the data transmitted and generate progress reports in real-time.  3. Improved safety practices The construction industry is mostly categorized as one of the most dangerous working environments to operate in. There are heights to scale and the risk of slipping and falling off. There are rough and unpredictable terrains to navigate. There are heavy machinery and plants to operate. Then there are sharp working tools. In other words, construction workers are also exposed to health threats due to hazardous tasks and risky maneuvers. More often than not, these actions result in injuries and other worst-case-scenarios. According to a report by the Bureau of Labor Statistics, 6,882,000 were employed in the construction industry accounting for only 4% of the total US workforce. And yet, the same Bureau reported about 937 deaths which accounted for about 21% of worker deaths. An accident on construction site, from minor injuries to a lifelong physical impairment to death, is the last thing a construction manager expects to hear. Consequently, construction managers have been forced to embrace the use of drones to mitigate the risks and keep the workforce safe and productive on the ground. Drones tend to undertake tasks that are typically performed in high-risk areas like great heights and inspecting dangerous terrains. Currently, drones are also coming in as best surveying tools. As a result, they make it easier to survey areas that are hard to be accessed by humans.  4. Improved communication Just like in any other business engagements, communication in construction sites is of paramount importance. It is the backbone to smooth operations. Given that construction is such a fragmented, dynamic and diverse sector, it renders the role of the project manager extremely demanding and problematic.  Nevertheless, addressing communication in the industry seems to bear fruits thanks to drones. Drones can be integrated with contact management software that helps convey information from the construction site directly to the board of directors’ meeting. They will receive a clear real-time view of the ongoing works which are relayed back to the management and supervision team for further action. Unlike satellite images, drone images are sharp and are transmitted faster.  5. Makes it easier to monitor project progress There is something funny with most construction plans. While you might think everything is going just fine only to realize that your project is several months late when you smell the deadline. That is where you start to cross your fingers hoping everything will go fine. You don’t know, for instance, how you didn’t notice the project was eight months behind. All along you thought your work was much on time. The reality is that determining whether or not a project is at risk of failing to meet the completion deadline is not an easy thing. Of course, plans don’t delay in a single day. It is a long process that takes time. Eventually, it then accumulates into a delayed project. The good thing is, unlike humans, drones can scan a job site real fast and produce accurate aerial views that give your team—and clients—a grasp of the project’s progression. You then determine the right action to take, whether to cancel an insignificant task, to employ the right talent or tackle issues of resource imbalances. Drones can also be integrated with construction accounting software & accounting software. That way, it becomes easy to handle finances and perform better fiscal projections. Summing it up As the industry grows, building and developing is becoming increasingly complex. To achieve your project goals, you need to increase the efficiency with which you are going to execute different tasks. You also want to gain an edge over your competitors and fetch a higher ROI. To stay on top, you need to embrace emerging technology. And, that is where drone technology comes in handy in the construction industry. About The Author: Parth Mavani is nurturing his future at SoftwareSuggest as Software Analyst. He has keen interest in project management software, payroll software, Digital Signage Software and many more.    We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger

This Podcast Is Episode Number 0304, And It Will Be About Why Trade Shows Are Valuable To Your Construction Business (Featuring Seattle Home Show Spring 2019) Organizations and industries, no matter the career discipline, is fully invested in coordinating and taking part in conferences, summits, expos, and exhibits. Industry trade fairs are remarkably relevant to construction company owners because it leverages traditional marketing practices without being intrusive (because your target market comes to you), fosters real, solid relationships, and promotes camaraderie among your associations. Trade shows humanize your brand and company and add value to your business in general because it is: Experiential There’s a reason why global companies capitalized on the emotional connection; it’s more than just the product - it’s the experience. As Randal puts it, the homeowner doesn’t want the drill, but she wants a hole in the wall to hang the picture frame. Consumers’ emotions play a significant role in influencing their decisions. This is your chance to incorporate the touch-and-feel element to your brand. A great first impression and a memorable booth don’t end after arranging and fixing your displays; it only starts there. Engage your attendees by making your booth interactive and fun. Note that some people bring their whole family with them – like me (big ticketed items, remodeling, and upgrades are most likely decided by couples – some with children in tow) so please be mindful and patient with the little ones, consider this when setting up your exhibit. Educational Tons of new products and equipment are being released in the market every year, whether it is a machine or software for your business system. Keeping up with the latest construction technology and innovation is essential to your company’s further advancement. Spending your time learning new trends and emerging industry tools is never a bad idea. It's also a great opportunity to educate your audience by making your demonstrations informational, hands-on and dynamic. It establishes authority and trust that you’re the go-to expert in town. Keep in mind that some attendees have no particular interest and are just there to look around, show off your products and highlight your services and how it could make their everyday life more comfortable. They might end up with something they have no idea they need until they met you. Entrepreneurial As a business owner, nothing will raise and keep your spirits high than being surrounded by like-minded people who took the big step to put themselves out there and showcase their products and services. You and your staff will certainly develop personal traits and interpersonal skills while networking and collaborating with a group of people. An industry-specific local event like this is an excellent way of creating formidable connections and building positive relationships among your community. In conclusion: Investing your time and money to increase your brand awareness and market to high-quality leads could potentially work in your favor especially when done strategically. There’s no better place where you can meet and greet your prospective clients, mingle with construction industry leaders, gain feedback from the live audience, and lay your construction company roots locally than at industry fairs. Of course, consider the advantages and disadvantages when deciding to exhibit in a trade show. As with all other businesses, there are always benefits and risks to deliberate and discuss with your team. The Seattle Home Show is the Northwest’s largest consumer home show held in downtown Seattle at CenturyLink Field Event Center during Spring and Fall. The exhibit features hundreds of builders, remodelers, and interior designers. I brought my family along with me to support local business owners and companies who have taken their time to showcase their products and services. I have huge appreciation to all who participated and attended this event. If you are a homeowner, check out the Exhibitor List in case you are on the lookout for a particular brand/company/product. Booth numbers are also included so when you arrive; you know exactly which vendors you would like to prioritize and connect with first. If you live or work near Seattle, the spring show is until March 3rd, Sunday. Visit their website for more details. Full disclosure: This blog post is not paid, sponsored, or in-partnership connection with Seattle Home Show. The author is not endorsing nor advertising the said event as well as the products/brands/companies included in the photos. Furthermore, the views and opinions expressed in this blog post are those of the author and do not necessarily reflect the policy or position of any other Fast Easy Accounting employee.   Need Help Now? Call Sharie 206-361-3950 sharie.com Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services Thank you for stopping by. Please know that we do care about you and your construction company regardless of whether you hire our services or not. For help with your accounting and bookkeeping needs please fill out the form on the right and we'll be in touch with you shortly. About The Author: Norhalma Verzosa is a Certified Construction Marketing Professional and works as the Webmaster of Fast Easy Accounting located in Lynnwood, WA. She has a Bachelor's Degree in Psychology and a Certified Internet Web Professional with a Site Development Associate, Google AdWords Search Advertising, and HubSpot Academy certifications. She manages the entire web presence of Fast Easy Accounting using a variety of SAAS tools including Hubspot, InfusionSoft, Shopify, and WordPress.   We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger

This Podcast Is Episode Number 0303, And It Will Be About Construction Bookkeeping And Accounting - Expectation Vs Reality Construction Bookkeeping is something you need to understand first, then learn. Over the years, hundreds of people have told us how easy QuickBooks is to use and how hard QuickBooks For Contractors is to use, and that is so true. Here is what I see repeated many times among construction companies: You usually hire an “office admin with experience in QuickBooks," ask your spouse or significant other to do it for you, or you try your best and do it yourself. Some would take the time to hire an in-house bookkeeper – not knowing what they need is a Construction Bookkeeper/Accountant. There is a world of difference between Construction Accounting and Regular Accounting. Construction Bookkeeping And Accounting - Expectation Vs Reality Posted by Randal DeHart on Fri, Feb 22, 2019 Find me on:  Facebook LinkedIn Twitter Google+   "> "> "> "> Share Construction Bookkeeping is something you need to understand first, then learn. Over the years, hundreds of people have told us how easy QuickBooks is to use and how hard QuickBooks For Contractors is to use, and that is so true. Here is what I see repeated many times among construction companies: You usually hire an “office admin with experience in QuickBooks," ask your spouse or significant other to do it for you, or you try your best and do it yourself. Some would take the time to hire an in-house bookkeeper – not knowing what they need is a Construction Bookkeeper/Accountant. There is a world of difference between Construction Accounting and Regular Accounting.                                 Expectation: Bookkeeping only takes 10 minutes a day. Reality: Just sorting out the receipts, scanning, and filing is already 10 minutes. The piles of paperwork will always grow high and wide. Expectation: Simple data entry – it’s fun because putting in checks, bills, and invoices are easy! Reality: The fun ends when confusion begins. “Does this receipt belong to this job?”, “Should I put this under Cost Of            Goods Sold?”, “How do I reconcile this?” Expectation: I’ll just call the Payroll software for support. Reality: Yes, you can. Reach out to your software provider for any technical issues you’re having. The problem is there are times when an employee turns their time-card late and expects to get paid on time, someone asks for advance pay, or you’re having some subcontractor issues. Expectation: I can run my financials and Job Cost Reports in QuickBooks (or the software I'm currently using) Reality: Inaccurate reports will damage your business. The day to day input should be properly allocated. A $5000 worth      of transactions placed in the wrong category will result in unreliable data leading to costly bidding mistakes. Expectation: My bookkeeper can provide me with Key Performance Indicators Report (KPIs) every day since it will only take 5 minutes. Reality: What is KPI? Yes, to some of you, that could be the reality. KPIs is a summary of how the business is doing financially and taken seriously can lead to some serious cash flow coming into your business and staying there.If you            review these five reports at 5 P.M. for 5 minutes, you can gain tremendous insight into your business.  Expectation: I already have an administrative assistant who runs the office and has QuickBooks (or other accounting software) experience. Hiring a construction bookkeeper/accountant will cost more money. Reality: Contractors should have two primary accountants. One is the Tax Accountant, and the other is your Construction      Accountant. Construction Accountants make numbers work in a way that it makes sense to you - the good (money in),          the bad (money out), and the ugly (more unpaid bills are left than the cash in the bank) How much is your Construction Company worth? Long ago near Green Lake in Seattle, Washington, I went shopping for a bike helmet and asked the clerk for a "cheap helmet" because in my mind all bike helmet was the same and I was not about to be ripped off. He had a profoundly simple answer: "If you have a $10 head buy a $10 Helmet." He said it in a deadpan face, no expression and he acted as if he could not care less about what helmet I purchased. I remembered something my Step-Father used to say "Buy the best you can afford and cry once, rather than buying the cheapest and crying about it not doing what it was intended to do forever." He was a simple man without a lot of formal education and yet one of the wisest men I have ever known. I purchased the most expensive helmet I could afford, and it saved me from experiencing several injuries over the next few years. Over the years I have put into practice a lot of the words of wisdom my Step-Father offered, and I can say with 100% assurance that his advice about buying the best you can afford has helped me make a lot of money because every time I buy the best, it has been the cheapest in the long run and generated a lot of dividends.  Bottom line, you should hire the best bookkeeping and accounting service (who specializes in construction) that you can afford regardless of whether or not it is us because we may not be the best choice for your contracting company. Know that your expectations could sometimes be far from what is happening in reality. Eliminating these frustrations and making informed decisions are pathways to financial success in your construction business. 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+  The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,

This Podcast Is Episode Number 0302, And It Will Be About The Top 5 Online Marketing Trends In 2019 With Actionable Tips For Contractors Whether someone found you via a referral, a word of mouth, or through the search engine results page, chances are not all of them will contact you instantly. Most likely, people will check and do an online research of your credentials and company’s credibility. That is what your website is for. Why should a browser choose your plumbing company? Can the site visitor afford your services? What are their options? It could be as simple as someone looking for faucet repairs and you only do brand new installations. Not only will your website provide essential details about your business, but it can also screen clients for you based on the information you provided. Serves both ways, right? You probably spend most of your working hours at the construction site but understand that your prospective clients (and former ones) are spending their time on your business site. Your online presence makes you a trusted source and a reliable expert that they can go to and come back to all the time. Make Google love you by creating a cohesive website with high-quality pages and show your website visitors why you do what you do so they will hire your services by implementing these 12 crucial elements to your website. 1. Responsive I take it some of you are reading this blog post from a smartphone or a tablet right now. According to Statista, mobile currently accounts for more than half of all global pages served in 2018. Simply put, your website needs to adapt and respond to its environment (desktop, laptop, tablet, or smartphone) to give your visitor the best browsing experience. 2. A Compelling Landing Page Selling your services to homeowners involves art and creativity. Words are powerful and visuals are captivating, fused them together to make a fascinating page that will attract the right audience. I’ll take you back to the “grunt test”: Donald Miller, founder of StoryBrand, has an easy and powerful way of evaluating your website. As a rule, upon visiting your site, one should understand what you offer within five seconds. Does your website pass the "Grunt Test" (Assuming a caveman were to open a laptop, look at your site for 5 seconds, and close the laptop, will it be able to “grunt” what is your website about?) With just a quick glance at your homepage, can your visitor answer these three questions: What is it that you offer? How will it make my life better? What do I need to do to buy your product/hire your services?  3. An Obvious Call-to-Action (CTA) (fictional company and sample website homepage) A Call-to-Action is a term used in online marketing and selling. CTAs are strong command verbs that prompt your visitor to take a desired action. Using bright, bold colors, direct your prospective client to click this feature button: such as “hire me”, “call for pricing”, “subscribe now”, “schedule a meeting”, or “ask for a quote”. Determine your purpose, have an end goal for each CTA, keep it simple and always be clear. Already implementing CTAs on your site? Test different action words and track your results. Compare which works better. Be sure to place your CTA above the fold for better visibility.  4. Contact Details A well-placed contact info will prompt the browser to get in touch with you. Make your phone number a clickable link that opens a dial dialog on smartphones and mobile devices, do the same thing with your email address. Do you have a “Contact Us” page? Include Business Address, Service Hours, and Service Location. (If you have an office where clients can come and meet you, a map is useful). A Contact Form with a redirect Thank You page is another worthy function when you have premade questions for your prospective clients (price quotes, flooring options, etc.). Offering multiple ways to contact you demonstrate you’re accessible and personable, not to mention the convenience it brings to your website visitors. 5. An About Page This is a clear description of who you are, what your business is, how long have you been in the business, etc. This is helpful for clients to know more about your background and for Google to know who is responsible for the website. People want to feel they have an actual connection to your brand, so tell your backstory and be authentic. Engage your reader by letting them know why you do what you do. Remember to use a CTA at the end of your narrative leading to your services or project gallery.  6. Services Give a brief overview of the work you are providing and that you have obtained licensing and other necessary permit to implement it. If you have a list of services, be  clear and specific by creating headings and including a photo for every service. Create a buyer persona and write as if you’re talking to one individual and highlight the advantages of why they should hire you. 7. Client Testimonials Build your reputation by showing off your satisfied client’s recommendations and affirmative reviews. Plus-points if you could post their photo and title along with their statement. This will wow your visitors since you have credible professional references who endorse your work. 8. Portfolio/Photos Large, clean, high-resolution images of your finished projects would be greatly appreciated by your potential clients. Showcase your work and feature your best before and after photos for site visitors to picture similar renovations in their own home. 9. Quality Content Think of Article Resources, Tutorials, Tips, or even a Blog (with author byline). In the world of marketing and sales, “Facts tell but stories sell”. Capture your reader’s attention by sharing your expertise and helping them solve their “pain points”. Consider your past clients and what they’ve been through before hiring you. Take note of their questions, concerns, and biggest issues while you’re working on a project for them - these could make up for a wealth of information for your future clients and website visitors. Be casual, conversational, and emphatic. This humanizes your company and builds a relationship with your audience. 10. Frequently Asked Questions (FAQ) I’m assuming you can’t be answering phone calls and emails 24/7. By providing a compilation page of commonly asked questions, you’re establishing support and eliminating your browser’s anxiety that your Services page doesn’t fully cover. It can answer questions such as "Do you have insurance?" and "Do you offer warranty for your roofing work?". Being one step ahead of your prospective client’s “What if”, “How do I”, or “When can I” demonstrates you’re looking out for their best interest and shows them how well you care. 11. HTTPS (Hypertext Transfer Protocol Secure) Browsers expect a secure and private online experience when using a website. Google encourages you to adopt HTTPS in order to protect your visitors’ connections to your website, regardless of the content of the site. Since security is a top priority for Google, it also uses HTTPS as a ranking signal. Websites that use HTTPS are likely to rank better in SERPs (Search Engine Results Pages) over the sites with unsecured version (HTTP). 12. SEO (Search Engine Optimization) Google makes hundreds of algorithm changes per year, last August they made a core update on how they calculate the ranking of websites on their SERPs (a key to creating relevant content is found here). Appearing on the top 3 results would be great but how do you achieve it without knowing the technical side of it? Easy! To enhance the search quality, Google made emphasis on a high level of expertise, authoritativeness, and trustworthiness (E-A-T). That is great news for you since you're already in an industry-specific niche. Optimize your site’s E-A-T by simply implementing items 1 to 11. As you build and/or edit your pages, keep in mind your USP (Unique Selling Proposition): What your business does, whom it serves, why it’s different from other businesses, and how it is beneficial to your prospective client. Note that some of these elements can be placed into sections and published in one page, for instance, Services and Testimonials can go well together. It gives your visitors much-needed assurance that you have successful projects and happy clients in the past. Don't forget to include your Awards and Recognition (if you have any) and place it strategically. Add value to your website footer by including your contact details, policies, and other important links. Make sure to include appropriate CTAs throughout your site so your prospective client can take the necessary steps and of course, hire your services.  In conclusion: These 12 crucial elements along with the design, look and feel of your website contribute to your professional online presence - it puts you ahead of your competition, builds your authority, and brings more income-generating clients to your contracting business. Need Help Now? Call Sharie 206-361-3950 sharie.com Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services Thank you for stopping by. Please know that we do care about you and your construction company regardless of whether you hire our services or not. For help with your accounting and bookkeeping needs please fill out the form on the right and we'll be in touch with you shortly. About The Author: Norhalma Verzosa is a Certified Construction Marketing Professional and works as the Webmaster of Fast Easy Accounting located in Lynnwood, WA. She has a Bachelor's Degree in Psychology and a Certified Internet Web Professional with a Site Development Associate, Google AdWords Search Advertising, and HubSpot Academy certifications. She manages the entire web presence of Fast Easy Accounting using a variety of SAAS tools including Hubspot, InfusionSoft, Shopify, and WordPress.   We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger

This Podcast Is Episode Number 0301, And It Will Be About The Home Improvement And Repair Contractor Success M.A.P. You started your service business doing what you love thinking all you had to do was get good jobs, finish the work promptly, and make a lot of money. Then one day you get a rude awakening that getting jobs done and doing the work was only a small part of being in the home service industry. What started as an adventure turned into something not as fun as you thought it would be. You are now experiencing the challenges of being self-employed: How can I generate more leads? How much should I charge for this job? What can I do to be more productive and increase my profits? The secret is in thinking patterns and habits. Success is a few simple disciplines practiced every day Failure is a few errors in judgment repeated every day Which goes to show you that almost any home improvement contractor can generate enough cash flow and profits from their business to turn their contracting company from a people-dependent money pit into a process-dependent cash cow, and have the freedom they dreamed of when they started contracting. Start by developing a Business Plan for your Home Improvement and Repair Company. The reason is simple, 99% of your competition do not have one and many of the ones that do rarely look at it. Why spend time and effort to develop your business plan? Contractors use business plans all the time, and most of them do not realize how important it is until we show them. Part of your business plan is the: Business Process Management Strategy (BPM) Your mindset, combined with the BPM strategy and the tactics you’ll learn from this post is essential to the success of your Home Improvement and Repair Company. Now, let’s get into the M.A.P. strategy. Marketing Marketing is the foundation because nothing happens until somebody buys something, or in your case, somebody hires your services. The questions to ask yourself is who are those people who would retain your services, and how can you be at the right place at the right time and with the right message when they begin their search for a home service contractor. Marketing doesn’t end after someone calls you up and have them scheduled for appointments. It only starts there. Remember that every detail, no matter how small it may seem, definitely count to your customer. What happens when you get to your client’s place? You never get a second chance to make a great first impression. Make sure you are wearing clean and proper attire. Wearing slacks and a collared shirt with identifying logo looks presentable and builds up your company brand immediately with the people you meet. Tips: When the homeowner opens the door - smile, take a step back and introduce yourself, show your badge or identification (this is a polite way of showing how you value their personal space) Come in only after you are invited Wear a shoe cover Be mindful of pets and children It is better to use plastic clipboards, or if you want to be fancier, cover it with felt - this will prevent scratches on top of the granite counter top or any delicate surface once you put it down. Offer “Good-Better-Best” product/service options to your clients - it takes away the pain of wondering how much to charge. Accepting credit cards is a great solution to people who would like to get things fixed but can’t afford to pay immediately A smartphone is handy for taking a “before” photo of the setup and placement as this will help you put furniture and other stuff back into place when you’re done. Clean up your mess One of the proven methods we used to generate immediate and recurring sales in our service and repair plumbing company is the Six Pack Marketing - this is a contractor’s lead generation dream. In fact, after implementing it, we had to hire more workers, train them using our documented process and send them out to a new project and more often than not, they would flag and set up operations there for a long time. Accounting Trying to organize bookkeeping paperwork is like herding cats. Your office command center is usually the truck’s dashboard or the van’s glove box. You carry with you some invoices, you have receipts in your pocket, in your post office box, in your laptop bag, etc. Papers left unattended tends to wander off and get lost. Get yourself and your crew a portable file box and a manila file folder (available at Amazon and office supply stores). Use the tabs to label the folders per project, for example, “Bob Bing’s House”, “Letty’s Cabinet Repair”. Now all the receipts, invoices, etc. go into its proper folder. We remove your paperwork frustrations by being your back-office support. Bring it to us, send it in the mail, or scan and upload it. Your documents will arrive in a paperless server where our professional bookkeepers will bring them up on one of their multiple widescreen, high-resolution computer monitors and input the transactions into your QuickBooks (stored in our remote secured server). Production Listening with empathy and understanding One of the most valuable gifts one person can give to another person is to hear them out and let someone speak until they are finished. When your client makes a point about something that could be important, wait until an appropriate break in the conversation and ask for clarification. For example, the new deck needs to be strong - could be an important point - perhaps they entertain a lot of sumo wrestlers or professional football stars. Show you care by asking. It could save you a lot of money by not under-building something and in fact, could make you a lot of money with add-on sales. Observing We had several clients in all of our construction businesses, and we had a lot of repeats and referral clients. One, in particular, lived in the Magnolia neighborhood of Seattle (a sweet little old lady on a "fixed income"). We did a substantial amount of work on her house, and when I would quote a price for a new project, she would almost tear up talking about how she may have to do without something special to have the work done. I would ask how she could live on a mere $8,000,000 a year. Her response as always, "It is not easy but thank goodness the house and car are paid for, and I have no other debts." We did a lot of work for her, and her friends and neighbors in the area and they were all raving fans! Why? Because of listening, questioning and observing and always, always giving a little more in value than we took in dollars. The key is, present a fair price that ensures your company will earn a handsome profit and hire professionals to do excellent work. Now you have a road map to success. All you have left is to assemble the tools, equipment, employees (if you need to) and set up your trucks and meet your clients. 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+  The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,

This Podcast Is Episode Number 0300, And It Will Be About The Biggest Management Strategy Problems Construction Companies Face Nowadays Today's Guest Article Is From Jacob Dillon As a construction business owner, you're probably rarely concerned about management strategies. Perhaps, you are more focused on signing new contracts and successfully completing the work. Then, you measure the results, usually in the form of numbers that the accounting system launches. This is already a management strategy. You make plans on what kind of contracts you want to propose, and you plan the entire process around completing a contract. Then, you measure your achievements. If you implemented a marketing campaign to promote your business, your business management strategy is even more complete. But it’s not entirely complete until you call it with the right name and approach it from the right angle. We’re talking about a management strategy, also known as strategic management. This is the plan for managing your company’s resources in the most effective way to achieve its goals and objectives. In practice, it means that the strategic management of your construction business will set precise goals, analyze the market and competitive businesses, analyze the structure of your organization, and plan all the right steps towards achieving your goals. Each new aspect of your marketing campaign and every new contract must be seen as part of your management strategy. As with any other complex process within your organization, there are specific issues that stand on the way to effortless accomplishments. When it comes to management strategy, these are the most common problems that construction businesses face: 1. The Need To Upgrade The Strategy To Meet New Demands The construction industry is constantly coming up with innovations. Technology became a major player. It doesn’t matter how experienced and well-established your company is; the clients will be interested in the type of technology it uses. Virtual and augmented reality, machine learning, wearable technology, predictive analysis, prefabrication - your management strategy has to be open for implementing these and many other opportunities in the company’s practices. So you’ll create the strategy. That’s okay. It has to be very specific. But what happens when you have to add something new and different? You must not allow the strategy to undermine your opportunities for growth. It has to be flexible. The development plan needs to be open for new additions. Needless to say, you must never plan the budget up to the very last cent. Unexpected costs will occur with the addition of new technology, so always have a reserve in your plans. 2. Emerging Internet Trends You planned your marketing campaign in a very specific way. You have a Facebook page or maybe even a blog. But the way people get informed changes over time. As you probably know, Facebook no longer features posts from business pages in people’s feeds, unless these posts are sponsored (paid). In addition to getting informed online, today’s customers and clients like making purchases online. If a client is interested in your offer, they will want to get very specific details at your website, and they will want the option to make the arrangement right there. Scheduling meetings are not really necessary. The environment where you promote your business changes. As an owner, you don’t have time to track all these subtle changes and react to them. You absolutely need a team of marketing experts, writers from services like EssayOnTime, and graphic designers to plan and execute part of the strategy. 3. Difficulties To Interpret Data Every single day, new data is being added to the pool of data you already have. Each post you publish on social media, each promotional email you send, and each new email newsletter subscription is adding to the pool. Even individual website visits matter. Where do they come from? How long does this visitor stay on your website? What pages do they check? How could you keep them there for longer? Even the most talented marketing managers face difficulties analyzing and making sense of all that data. When you have such a huge load of information but you don’t know how to use it, it’s like holding a very sharp knife in a shaky hand. It’s completely useless that way. So how do you solve this problem? Usually, it demands the help of a marketing agency or an individual data analytics expert.  4. Blockade In Daily Problem-Solving Processes When you face any of the problems mentioned above, this one comes at no extra cost. If you get stuck in the data analytics process, you won’t be able to solve daily issues. For example: what type of social media post should you publish today? How can you stop website visitors from bouncing? If you don’t know what the online trends are, you won’t be able to figure out a solution for your marketing strategy. If you don’t own new technology, you won’t know how to attract this big potential client. Everything is connected with problem-solving processes. As an owner or a manager of a construction business, you must be on top of every single issue that arises. The solution may be very easy, but it will still require an in-depth analysis of several factors. Your entire team must have a problem-solving mindset, so the daily practices of the business will carry on without major complications. Takeaway The conclusion is simple: achieving success in the construction industry won’t be easy. You absolutely need a strategic approach. But even the best strategies will face obstacles, so you’ll have to learn how to deal with them along the way.    About The Author: Jacob Dillon is a professional writer and distinctive journalist from Sydney. Being passionate about what he does, Jacob likes to discuss stirring events as well as express his opinion about technological advancements and evolution of society. Find Jacob on Twitter and Facebook.     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,

This Podcast Is Episode Number 0299, And It Will Be About 8 Tips On Making Email Marketing Work For Your Business Today's Guest Article Is From Freddie Tubbs As a contractor, you probably have some former clients you want to stay in contact with and a need to bring the new customers in. The ideal way is to communicate with both of these groups in a timely, consistent manner and let them know what you are up to. Since most people use email to communicate, this could be an excellent opportunity for you to catch their attention and build a good relationship. It gives you complete control over who sees your messages and you can be sure that your emails will go to everyone on your list. Social media is, in contrast, quite fickle and sometimes people will miss your posts unintentionally. This is why well-written emails from you might do a far better job. Here is how to use email marketing for your construction business. Build an email list To build an email list, you'll likely need some sort of a website or online platform where you can gather subscribers. Build a good landing page and offer something in turn for their subscription. You can also set up a page where they can get a quote price on your work based on their demands. This is one of the best ways to get subscribers because everyone prefers to have such information delivered to their inboxes. Promise exclusivity like discounts, promo codes, tips, free content and so on. All of these things will lead to you gathering more email subscribers and having an active communication with your clients in season and off-season. Write strong subject lines The subject line is one of the first things the reader sees when they open your email and this means that it has to be striking. For one, it needs to be relevant to the subject at hand so you can't be deceiving and trick people with certain subject lines. Next, it should be attention grabbing. People usually open emails with question subject lines or their own name in it. Generic titles don't work as well. Use a company email Make sure that your email address is recognizable since your clients will have to be completely sure who it's coming from. Use a verified, personal email address that shows them who you are from the get-go and ensures them in your trustworthiness.    Write clear email copy Email copywriting can be a daunting task for people who want to succeed in Email copywriting but have little to no experience in doing so. Construction work really has nothing to do with writing, so here are some powerful tools to help you out: Studydemic- If you need an email copywriting guide, look no further than this resource full of helpful tips. Boomessays - In case you feel like your writing could use some editing, you should get some help from this tool. Writing Populist - Grammar mistakes can be pesky but with this checker, you will never need to check grammar yourself again. Academized - Proofreading is essential in writing email copy. Use this simple tool. Link to your site Each one of your emails should contain a link that leads back to your website. This way, you get traffic and your subscribers get an opportunity to read more of your content, get acquainted with your prices and so on. Include a CTA The purpose of every email is to entice some action on the part of the recipient. Whether it's a share, a feedback response, a purchase or something else entirely, you need to add calls-to-action to every email you create. These are small but compelling lines at the end of your emails calling for the next step - for instance, ‘Buy Now!’, Get the discount here’ and so on. Don't spam Be wary of the GDPR (General Data Protection Regulation) guidelines which explicitly say what you should and shouldn't do when email marketing. “These rules are very straightforward and you should pay attention to them. Most of the time, if you write properly and with the right intention, you can hardly make a mistake”, - explains Sara Jordan, an Email marketing strategist at Student Writing Services. Be friendly When your subscribers receive your email, they don't want to hear from a stuffy, uptight construction contractor. They want to see a friendly, calming tone of voice - it's their personal inbox, after all. So, try to sound moderately friendly and genuinely kind in your emails. Write amazing emails! Starting an email newsletter can be a great thing for any construction business. You can use it to send updates, get more clients and get overall better results. These have been some tips on starting an email newsletter and hopefully, they will help. About The Author: Freddie Tubbs is a communication manager at Assignment help service. He also works as a blog writer and editor at Australian Reviewer and Grade on fire. Recommended Reading: Like this post? Check our past blog posts related to this topic. Five Marketing Tips For Contractors Top 5 Online Marketing Trends In 2019 With Actionable Tips For Contractors In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,

This Podcast Is Episode Number 0298, And It Will Be About 7 Mistakes When Writing A Construction Business Proposal Today's Guest Article Is From Daniela McVicker If your construction company doesn’t provide unique services, you should clearly understand that you have a lot of competitors, who write business proposals almost identical to yours. It’s not surprising that clients always find it difficult to make a choice in your favor when all options seem to be equal. For this reason, it’s crucially important to learn how to make your construction business proposal stand out from the crowd. If you want to define, which mistakes you usually make and how to avoid them, just keep reading. Don’t understand client’s needs You will never win a competition if you send an identical standard construction business proposal to all your potential clients. It’s a totally wrong approach to gain trust. You should always analyze the specific needs of a client and create an exclusive proposal. You should clearly explain how your company will satisfy these concrete needs. Try to answer a simple question: what benefits this client will get, if he chooses you among the others? The project will be yours if you step into your customer’s shoes and state his expectations in your proposal. You should make your client think: “Wow! This is a perfect solution to our problem!” Don’t provide any proofs of your qualification If you want a client to believe that you are the best construction company for this project, you should provide the proofs. You can add photos, testimonials, or any other pieces of evidence of completed projects as appendixes. “Even if you completed a hundred similar projects, you should choose only 2 or 3 of them. Show the works, which you are proud of the most” – recommends Albert Malinger, an editor at Top Essay Writing. Set inadequate fees You should never drop your price to compete with other companies. You should always prove in your business proposal why your services are worth this money. Otherwise, you will never get the desired level of profit. However, you should never set your prices too high, because it lowers your chances to win. Your task is to evaluate the real market value of your services and be honest with your potential client. Forget to proofread proposal The worst thing you can do is to write an outstanding business proposal and forget to proofread it. Even one epic typo or grammar mistake can spoil your reputation. No one will trust the quality of your services if you are not able to control the quality of the writing. Include unimportant information You will never make a great first impression on a potential client if you overwhelm him with tons of irrelevant information. If your client is looking for a construction company specializing in garage construction, you should state your expertise in this very field only. If you also mention that your company can build a swimming pool, it will make your proposal sound unprofessional. Don’t pay attention to text formatting Your clients are busy people, and they receive tons of construction business proposals every day. If you submit a 5-page long document, which has no clear structure, it’s unlikely that addressee will waste his time reading it. If you want to make sure that your client will not send your business proposal to trash, make it easy to scan. It’s important to break the text into sections, use appropriate headings and list items in bullet points. Don’t propose any timeline It happens that some construction companies write about their vast experience, offer affordable prices, but forget to propose a timeline. As a result, the client feels a little confused. Even if he liked an offer, he cannot accept it without knowing the deadlines. You are responsible to estimate approximate time of construction and to present this information to your client. Keep in mind that you shouldn’t make any dead promises. If it’s impossible to complete a project in two weeks, don’t lie to your potential client just because you want to win a competition. Final Thoughts You should consider the construction business proposal as a tool, which can help you to generate a higher profit. If you have just found out that you made a lot of mistakes in the past, don’t worry. Now you have enough information on how to fix them. In writing a proposal, you should pay attention to every small detail, because it always matter. You should never forget that your ultimate mission is to make a great first impression on your client. About The Author: Daniela McVicker is an editor at Grab My Essay and freelance writer. In her college years, she helped her father to build a small construction business. In her free time, she fishes, go camping and play basketball. Recommended Reading: Like this post? Check our past blog post related to this topic. Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,

This Podcast Is Episode Number 0297, And It Will Be About Contractor Loans: An Expert's Guide On How To Finance Your Business Running a contractor operation takes a pretty special individual, especially since there are going to be so many different moving parts with each and every project your contracting outfit takes on. Hammering out bids, winning jobs, managing a crew, knocking out material lists and – most importantly – making sure that you stay on top of your cash flow are all big pieces of the contracting business puzzle. Because of the size and scale of these projects (even the smallest of contracting jobs), things get pretty expensive, and the odds are pretty good you’re going to need to tap into business loans every now and again. But contractors, particularly those just getting started in the business with their own outfit, usually find unsecured business loans to be a headache and hassle to get a hold of. These kinds of loans usually aren’t given out to folks without a track record under their belts. And on top of that these kinds of loans usually don’t come with the kind of financing contractors need to get projects from start to finish. Here are a couple of options you want to consider when you’re looking to get financing for your business. Consider traditional bank/credit union and SBA loans specifically for contractors Traditional banks, credit unions, and the Small Business Administration all offer specific loan packages for the contracting industry that you may be able to take full advantage of. You’ll obviously have to meet with local bank representatives (or fill out the government paperwork with the SBA) to figure out the specifics of these offers, and it’s not a bad idea to go to a bank that you have a bit of a history with as a “retail” customer. At the same time, these kinds of loans can take a long time to go through the approval process – particularly if you’re asking for hundreds of thousands of dollars that you might need to knock out a couple of construction projects you’re looking to undertake. Most suppliers will offer some kind of leasing and financing package for local contractors Thankfully, the overwhelming majority of suppliers in your local area are likely to offer some kind of leasing and financing package for contractors that do – or anticipate – a lot of business with them. You’ll need to create an account with your local hardware stores, your local building supply stores, and your local home department stores to take advantage of these financing packages. On top of that, you want to make sure that you read the fine print of each agreement, as they are almost always going to have unique terms from one another, and you’ll want to understand every detail of each of these financial packages before you sign on the dotted line. Major chains (like Home Depot and Lowe’s, for example) also offer their own financing package for professional contractors that are well worth looking into. How to make working capital loans work for your contracting outfit? At the end of the day, you might want to go the more nontraditional route of getting financing for your contracting outfit and start looking into working capital loans from these kinds of lenders. Working capital loans essentially keep you flush with all the funding you need to keep your cash flow positive, helping you secure materials, payout your payroll, and cover any minor blips in the road along the way until the profits from your jobs start coming in. Again, you’ll need to look into the specifics of each working capital offer before you decide to take the plunge. Some nontraditional lending packages will be more advantageous to leverage compared to others, and you want to make sure that you are always making a smart move with this kind of nontraditional financing rather than saddling yourself with a financial burden later down the line for a short-term fix. All in all, you’ll find that there are plenty of opportunities out there for you to get your hands on the financing you need to not only run your contracting outfit but to also grow and expand your base of operations. It’s never a bad idea to shoot for being able to “self-fund” your business right from the profits of your job, but that’s only ever going to be possible after using years of taking advantage of the kinds of financing packages we highlighted above.   About The Author: Chad Otar  is the CEO at Excel Capital Management, a pioneer in the Fintech and alternative lending space. He has assisted thousands of business owners to receive funding over the last 5 years and is focused on helping one small business at a time achieve access to capital.   In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger  

This Podcast Is Episode Number 0296, And It Will Be About The Top 5 Online Marketing Trends In 2019 With Actionable Tips For Contractors Today more than ever, we live in a world where information is accessible at the touch of a button, a few clicks on your keyboard, or even just a voice command. Although it's hard to predict where new technologies will lead us, one thing is for certain - we are now all digitally connected. The internet has caused our businesses to thrive and survive and there's no way of blocking its impact in our day-to-day lives.  With that said, it is helpful to keep an eye out on these marketing trends that could influence how your target audience search and consume data along with actionable tips that could jump start your new year "to-do list":     Trend #1: A Functional Website (Content Is Everything) Your online storefront is your landing page. Although there's no manual for creating a high-converting copy and building a foolproof design, there is no denying that to establish your online presence, you need to have a business website. People don't usually go for the best products and services in the market (especially the ones who are new to your site), they opt for the one whose information they can digest quickly and easily.  Actionable Tip: Donald Miller, founder of StoryBrand, has an easy and powerful way of evaluating your website. As a rule, upon visiting your website, one should understand what you offer within five seconds. Does your website pass the "Grunt Test" (Assuming a caveman were to open a laptop, look at your site for 5 seconds, and close the laptop, will it be able to grunt what is your website about?) With just a quick glance at your homepage, can your visitor answer these three questions: What is it that you offer? How will it make my life better? What do I need to do to buy your product/hire of your services? Give your website a quick make-over by: Making your headline direct (easy-to-understand tagline) Displaying the convenience your client will experience if they hire your services Including an obvious call-to-action button ("Contact Us", "Call Now" in bright, visible colors) Trend #2: Optimize For Local User Intent Have you ever reached for your phone, opened your browser, and typed "Where can I find Mexican food near me?" when looking for a place to eat? You have a specific "intent" in mind (food) and would like to eat nearby because, well, you're starving. The page result will bring you a list of restaurant names and maps with their service hours. Google's dominance in search traffic revolutionized the way we look for answers online and we as users, has become more conversational with our queries (whether we are typing it or doing a voice search). Thus, it is crucial for your company to appear on Local SERPs (Search Engine Result Page) to remain search relevancy and build authority while generating better leads for your business. Actionable Tip: If you haven't done so, claim your Google My Business listing and create a Google My Business profile. Fill out your business page properly and be sure to include all the important details: address, contact number, business hours, and a unique, formatted description of your company with links to your online site. Also, you can maximize your Google presence by creating a free website with an updated profile image (logo), post your services with high-resolution photos for visually appealing content. Trend #3: Social Media Community If Google is for "intent", the use of social media is for "interest". According to Hootsuite, 66% of monthly Facebook users use it daily, with Americans spending 58 minutes per day on Facebook. Likewise, Instagram, Pinterest, Twitter, and YouTube have amassed millions of users who are sharing micro-content every second in any given day. Since social networking sites have an easy-to-use interface with downloadable mobile apps, it is convenient and handy, and offers more personalized interaction between you and your patrons. The rise of social networking sites paved the way for small businesses and solopreneurs to advertise their brand without spending a fortune and establish their influence by being part of an online community. Actionable Tip: Develop a Social Media Marketing strategy. Easier said than done, I know, but every step counts. Start by posting meaningful and engaging content. "Before and after" photos works wonders to curious browsers, but what else can you post? Ongoing promotions, what's your day like at work, your current project, seasonal reminders (for example, you're a plumber: winterize your outdoor kitchen), tips and tricks (how to better take care of your carpet), etc. Monitor where and when you are getting the most feedback from your followers so you can interact with them. The key here is delivering the right message, to the right person, at the right time - every time.  Trend #4: Videos One of the most credible ways of connecting with your audience and building trust in your company is the use of videos. Live-stream content is flourishing and has become a powerful tool for online marketers to convey their message. It's no wonder why mobile devices and apps support and feature video tools in their products. According to HubSpot, more than 50% of consumers want to see videos from brands more than any other type of content.  Actionable Tip: A quick search on Google will give you thousands of results about video marketing and video creation process. You can hire services when you want it professionally done or do it yourself without the complexities of technology by being raw and going "live" on a social media platform. Bear in mind, as with any project, focus on one thing at a time. List down your target audience, the purpose of your video, and the time and resources needed to produce it. Trend #5: Client/Customer Centricity As a service-based industry, this concept is integral to your construction company. What does it mean to be client-centric? It is more than just offering an exceptional customer service, it means nurturing relationships with your clients by being part of their "buyer's journey".  Clients in turn, will not only provide you positive feedback but becomes a loyal follower and advocate of your brand. Randal talked about Customers Vs Clients, and how taking care of your clients is essential not just for acquisition but also for sustainability. After all, it is easier to maintain a client than to gain a new one. Actionable Tip: Empathize with your client when addressing their needs. Make their experience easy, from reaching out to you (remember the "call-to-action" button on your website?) to handing payments.  In conclusion: Let's keep in mind that trends fade away. Invest in yourself and expand your skills. Develop a growth-mind set because there's still no one-size-fits-all marketing solution for every type of business nor will there ever be. As a construction contractor, I trust that you are adaptable to change and resilient in all the challenges that comes your way. May this year bring you more exciting opportunities and financial blessings. Happy 2019!   Thank you for stopping by. Please know that we do care about you and your construction company regardless of whether you hire our services or not. For help with your accounting and bookkeeping needs please fill out the form on the right and we'll be in touch with you shortly. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger      

This Podcast Is Episode Number 0295, And It Will Be About The Highlights Of Our 2018 And Some Helpful Reminders It’s been another great year for Fast Easy Accounting. For those of you who have been with us through all these years, we appreciate your support; without our contractor clients, subscribers, podcast listeners, blog readers, and guest bloggers, we wouldn’t get to where we are today. As we look back on our 2018, I hope your fondest memories will include the time you’ve spent with all the things you love and are passionate about. And because we love what we do and we are passionate about serving our contractor friends - for us, this year was all about empowering your contracting business by continually providing you with outstanding products, high-quality services, and dependable resources for your bookkeeping and accounting needs. Year-In-Review Continuing Education We believe that knowledge is power and having access to the best available information is an important aspect for us to serve you better. Our team attended in-person seminars and conventions, and took in-person and online classes, to keep up with technology and enrich our profession. As the website administrator, I attended a Google Cloud event (I won’t bore you with the details) and marketing classes which I think would truly benefit you as well (watch out for my blog post of recommendations for 2019 in case you’re interested). We’ve done quite a few exciting changes to our main site and over at the store. You can now easily navigate our Menu with all the helpful links still in place and the orange buttons at the top to quickly access the pages. We’ve also included a Search Bar and a Help section. Our blog has grown tremendously and to deliver more content, articles are also posted on Tuesdays written by our reliable and excellent guest bloggers. Our online store continues to evolve as we make way for more products and services. Products and Services What better way to cap off this year than to get better insight and deeper understanding of your construction company? We don't want you to miss out on these best selling products and services in our Fast Easy Accounting store. Contractor Bookkeeping Review- A 36-Point list of the current issues with your bookkeeping file for $29.95 only. PDF with 30-Minute, 1-Hour, or 2-Hour consultation packages are available. Contractor Business Performance Report- Assess your business data and make better decisions for your company. Get a PDF report for $29.95 or choose from 30-Minute, 1-Hour, or 2-Hour consultation with Randal DeHart. Contractor Payment Application- Keep track of your current project's information, invoices, change orders, and payment details the fast and easy way - all built in Excel. Starts with $97 for 1 Application. Available in 2, 3, 5, 10, and 15 Applications. Free Mobile App   Early this year, we launched our mobile app. This App was designed to provide every service you could ask from us. We’ve put your favorite business systems, invaluable tools and features such as calculators, tax tables, logbooks, receipt and income management, instant access to the latest financial news and information and valuable company info, directly from us. With all this on one App, our App will likely be your go-to tool in the future.  It’s available for iPhone, iPad and Android Devices completely free of charge right now! Enjoy our App with our compliments! Helpful Reminders From Sharie: Be mindful of the paperwork that needs to be stamped on or before December 31st. Payroll – Did you take any personal payroll (S-Corp) If not, it may impact your personal deductions.  IRA - 401K - Making those final payments before midnight on December 31. (Do not wait until 11:59 PM) Some plans allow you to make payments until April 15th (double check the dates– do not assume) Income – Getting one last customer invoice and receiving the payment (last minute purchases to count on 2018 taxes (expenses or larger item which qualifies for depreciation) Do not expect to be able to file your annual taxes on January 1, 2019. Visit https://www.irs.gov/ for the official 2019 Filing Season Start Date. Prepare W-2s and pass them out as soon as possible – remember to keep a copy. W-2’s and 1099’s have a deadline of January 31st to be mailed out to your employees and 1099 contractors. Be proactive and send out W-9’s now; thereby asking for Federal Tax ID or Social Security Number now. Think about your company tax filing status. I recommend changing from a Sole Prop to an S-Corp. Setting up an S-Corp is done with the Secretary of State in your state. Note, a few states only accept forms from a third party service.  If you are currently an LLC - my recommendation is still to become an S-Corp. If not, change your tax filing status to be treated as an S-Corp. The form needed from the IRS is a Form 2553. https://www.irs.gov/pub/irs-pdf/f2553.pdf  Unlike many State Agencies, the IRS does not charge to file their forms. You are asking the IRS to change how your company is treated. Why is this important? Because the IRS will only accept the form for the current year in January – February (pushing the deadline to March 15th is risky) otherwise the approval will be for the next year (meaning starting in January 2020) instead of January 2019. Quick Tip: Late Penalties to State and Federal Government Agencies are increasing, and they are looking back at filing dates of past returns for additional fees.  It’s very expensive to borrow money from the government.  In case you need it, it never hurts to ask for a payment plan. Rule of Thumb When Asking: Be Nice, Be Polite. Ask for a payment plan to be extended for as long as possible and with payments as low as possible. Sometimes no matter how you ask – the person you are talking to is not helpful, but usually, if it is within the rules they will help you out. Cash Flow - Every little bit helps!  In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_The_Highlights_Of_Our_2018_And_Some_Helpful_Reminders

This Podcast Is Episode Number 0294, And It Will Be About Risks Construction Contractors Face While On The Job   Today's Guest Article Is From Rachel Porter Content Specialist At Custom Contractors Insurance Many people look at someone who has made it as a contractor and often find themselves wishing they were contractors too. After all, contractors are their own bosses, with flexible hours and, more often than not, a much-higher pay at the end of the day. Indeed, being a contractor has its perks. However, it’s hardly a walk in the park. As a matter of fact, contractors probably face more risks compared to regular employees, and they will always need construction contractors insurance to protect themselves. Let’s take a look at some of the risks contractors face while doing their job. Damage to or loss of tools and equipment For contractors, their tools and equipment are their bread and butter. There is no way they can do their job and deliver what’s required of them if their equipment are damaged and stolen, and in the contracting business, both are very real possibilities. Aside from the risk of workers damaging their tools one way or another, it’s also not uncommon for thefts to happen at a construction worksite. Competition prices taking a dive So a responsible contractor takes pride in the quality of his work, and his rates are commensurate to the kind of results that he delivers. However, a contractor might have competitors who are more than willing to bid projects below cost just so they can create some cash flow for their operations. Some do this hoping to buy out projects or earn extra profit by way of change orders. In any case, when competitors take a dive, it makes acquiring new work even harder. The seasonal slowness Unless a contractor is based in the warmer regions of the United States, he will likely experience a work slowdown whenever winter comes. There is no way a contractor can work when the ground is frozen and covered by two feet of snow. The freezing winds will also make an icicle of any worker who even tries to work at a certain height. Then again, even warmer climates do not guarantee continuous work. Economic downturns can make finding contracts more difficult regardless of the weather. Flawed finished product A contractor should always comply with safety standards and building codes, because the alternative really hurts. If the finished project is defective in any way because it’s not up to local, state, and federal building regulations, the client who commissioned the project will likely ask the contractor for a reimbursement, and that could bring that contractor’s company down. Missing deadlines Clients will always want their project to be finished on time, as agreed. However, as the project goes underway, so many things can happen that might delay it. Equipment might break down, materials are delivered late, or any other unforeseen hitches might occur. That’s why contractors who know and understand the value of keeping deadlines always keep their communication lines with their clients open, so if some inevitable delay happens, clients will get a heads-up and amend the contract to move the deadline. Worker and third-party injuries A contractor will always be ultimately liable for any injuries that could happen within the work site. A worker or third parties like clients visiting the site could get injured, and the contractor could potentially find himself at the receiving end of a claim that could ruin his company financially.  CONCLUSION: Thankfully, contractors insurance can help contractors weather any of these risks. General liability insurance, for instance, would serve them well when it comes to third-party injuries. Workers' Compensation Insurance, on the other hand, can take care of any employee who might get hurt. So the next time you catch yourself daydreaming about quitting your job and becoming a full-time contractor, always remind yourself to prepare for all the risks and responsibilities that come with it.    About The Author: Rachel Porter is the content specialist at Custom Contractors Insurance. Since 2011, Custom Contractors Insurance Insurance has helped contractors of all kinds find affordable insurance across the country. Their goal is to provide a policy that will protect you, your business, and your clients at an affordable price.   The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Risks_Contractors_Face_While_On_The_Job

This Podcast Is Episode Number 0293, And It Will Be About Systematic Payments: Why Should Businesses Use Payroll Service?    Today's Guest Article Is From Sheena Justine Baxter Content Writer And Editor Running a small business can be hectic. There are plenty of tasks for a business owner to oversee when handling the managing of daily operations. Inspecting staffing requirements, attendance, business reviews and more, can fill its plate on a daily or weekly basis. Completing payroll is another task that must be done once or sometimes twice a month, depending on the pay periods. These need to be completed on the specified date without delays and must be completely accurate. Even the slightest mistake may cast doubt on the business and employees will quickly become demoralized – starting a chain reaction that threatens to derail the entire operation. It is quite common for disgruntled employees to seek help from government labor enforcement agencies; seeking retribution for what they see as unfair and unsound business practices being employed. What’s wrong with completing it manually? It’ll cost me less. Many small business owners complete manual processing of payroll to lower overhead costs of operation. While this seems like a good idea on paper, it really isn't. Thinking big means to prepare for an eventuality of growth and processing payroll for each and every employee individually doesn’t say much for that business owner’s vision of the future. Manually completing payroll is time-consuming and more than likely to result in a few errors along the way, especially when a business owner is dealing with a staff of 50-plus heads. However accidental they are, if these discrepancies become frequent, the owner will most likely be certain to face angry employees, or worse, angry tax authorities. Making a small investment now is better than incurring casualties. Completing payroll isn’t that difficult. What’s the big deal? It is the employer’s responsibility to calculate tax and there are federal, state, and local payroll taxes that need to be applied per payroll per person. According to the National Small Business Association (NSBA), 1 out of every 3 small businesses spends an average of 80 hours each year filing taxes, including the ones on a payroll. 80 hours that could have been spent elsewhere; perhaps, focused towards other useful initiatives that would actually help the business grow. Checking an employee’s worked hours and multiplying it by their rate of pay isn’t the hard part of doing payroll manually. That’s just the tip of the iceberg. Putting all mention of taxes aside, a small business owner will also need to account for overtime work hours, vacation leaves, bonuses or compensation, health and medical benefits, and possibly much more. The average amount of time that it takes to complete manual payroll processing for a single employee (and this is not even taking into account the aforementioned overtime work hours, etc.) is about 11 minutes. Multiply that by the total amount of heads that are currently employed, and bingo, someone’s missing the bus ride home. Okay. What’s the solution then? The solution is to invest and apply for a payroll service. The primary advantages of a small business owner using a payroll service are numerous hours saved and no liability for errors. If mistakes occur, it now becomes the payroll service’s responsibility to correct and take ownership of the problem. Besides that, there are many other benefits to reap. Depending on which type of service is being used, the enrollment fee may either be one-time or a monthly subscription fee. Additional features that payroll services offer typically come with an additional fee on top of the upfront cost. A smart business owner will analyze the needs of his/her business and choose a payroll service that fits right in the groove. Are only the basic functions required, or are additional services needed? Well, what ARE the other benefits of using a payroll service? Many payroll service providers offer cloud-based platforms which means that payroll can be accessed and run remotely from any location within minutes. No need to install software or invest in hardware and servers. Upgrades to the platform are done automatically. Payroll service providers make use of the best security encryption methods to ensure that employees’ sensitive information is safe.   A good payroll service provider will also provide round-the-clock support for its clients; to assist in case any technology-related issues arise. One viable option for a hesitant business owner is a free trial run. Some payroll services will allow clients to use the platform for a limited amount of time at no cost just to get a feel of the system and grease up the gears. If there’s anything unsatisfactory about the platform, just cancel the subscription; no harm done. Integrations are an add-on feature that will definitely cost something extra but which are a worthwhile investment for businesses that utilize accounting, timekeeping, and scheduling applications. Integrations will allow the payroll service to blend in nicely with all of the current software being used by the business, making it a breeze to cross-reference worked hours and calculate pay rates. Automation and mobile access are another few nice extra pieces of tech thrown into a payroll service provider’s arsenal of features. If a payroll pay period is the same day every month, the system can be configured to run at a preordained date and time. Just hit a few buttons, provide approval, and that business owner is off to catch happy hour. Being able to configure these functions via their tablet, laptop or smartphone only makes it THAT much easier. Gone are the days of keeping stacks of dusty ledgers filled with names and numbers from months and years past. Another great feature that business owners can take advantage of is the powerful reporting options included by most payroll service providers. The payroll data can be spliced, pivoted, graphed, and PowerPoint-presented in a way that manual processing of payroll would never have even dreamed of. You’re starting to sound like a salesman. Isn’t there any risk involved with this? Like with any other IT system, payroll platforms can have weak points. Some of the more notable areas of opportunity for these providers are in relation to data and cybersecurity. It’s important to note that although most providers use top-of-the-line security systems to run a tight ship, this fact should not be taken for granted and a business owner has every right to ask questions about the security standards being employed. Data loss is a rare occurrence but one which nonetheless can have serious implications if the information cannot be retrieved. This usually happens during a server malfunction or crash. Most reputable payroll service providers have backup systems in place to work as a failsafe but it doesn’t hurt to do some research in advance. CONCLUSION: In summary, there is a small element of risk involved (as there is with any investment) but the advantages far outweigh the disadvantages. Payroll service is simply an evolutionary step that a small business needs to take if it intends on transitioning to the big leagues.  About The Author: Sheena Justine Baxter has been working as a content writer and editor for 5 years. She has written different articles but focuses more on industry-related subjects. Prior to her online career, she used to work for a manufacturing company as an HR personnel, meeting and evaluating applicants on a daily basis. The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Systematic_Payments_Why_Should_Businesses_Use_Payroll_Service

This Podcast Is Episode Number 0292, And It Will Be About Your MAP To Increasing Cash Flow and Profits In Your Contracting Company Today's Guest Article Is From Joseph McLean Full-Time Freelance Writer Managing an entire project on your own can be overwhelming. Being in charge of endless tasks and assignments is pressuring – sometimes, you even feel that there’s no way you could handle anything anymore. Feelings of anxiety and concern might overthrow your balance, and that’s a sign you should bring a change in your work life. We will provide you 5 strategy tips to project management success that might save you from going insane!   1. Set the Goals and Plan the Day Before getting started, set your goals and plan your day accordingly. Knowing where you started and where you are headed is crucial for tracking your long-time progress. When you have no idea what your final goal is, or how much of your personal goals you’ve already completed, things start to get complicated. Some guidelines on how to set goals, and help your team set theirs too: ⦁    Think about what motivates you ⦁    Set your life priorities ⦁    Be S.M.A.R.T. – choose Specific, Measurable, Attainable, Relevant, Time bound goals ⦁    Ask yourself and your team “why?” Why are they doing this? Why are you doing this? What do you want to achieve, how would that have a powerful impact in your life? Planning your day: ⦁    Start one night before – write a to-do list ⦁    Prioritize your tasks ⦁    Design an ⦁    action plan, and present it to your team ⦁    Design daily tasks to each one of them, and be structured in your presentation of the assignments Make sure you and your team stick to the plan you’ve outlined, even when the deadlines might be a little bit shaky. Don’t be too hard on them or on yourself, but do respect what you’ve planned every single day. 2. Choose the Right Team Choosing the right people to work with is essential. Dan Kelsey, freelancer and expert in college homework help at San Antonio English School, shares his opinion. “Every team player will follow specific guidelines and work in their area of expertise, so that in the end, the pieces of work can be joined together and the puzzle completed. If the pieces don’t fit together, there will be no puzzle. That’s when your project’s outcomes become unsatisfactory.” Here are some great tips on how to choose the perfect team for your business: ⦁    Research each one of your employee’s backgrounds ⦁    Ask who they are, what they enjoy doing, and what they like the most about working in a team – focus on their inherent personality, not necessarily on their accomplishments; ⦁    Look at how competent they are by questioning them; look at their past results if you must, but don’t judge if their results are not the best; maybe they’ve evolved in the meantime and they’d make great assets to your team now; ⦁    Design at least three “team core values,” and evaluate the candidate according to that – do they fit in? ⦁    Listen to their stories and don’t draw conclusions based on assumptions. Get to know the person before saying yes or no. It’s important to keep an open mind when hiring someone new, but it’s also crucial to be realistic. Give each person a chance, but if they really don’t look like they’d fit in, it’s probably best to say “pass.” 3. Let Go of Expectations Good project managers understand that great outcomes come with hard work. However, there are times when we work hard and plenty, but our results do not quite show it – and that’s totally fine. That means we must work even harder in order to succeed. Letting go of expectations is the first step to accepting where we are and starting to evolve. ⦁    Acknowledge your expectations and accept the fact that you want to reach success ⦁    Slowly transition into a “let it go” mindset, and let it go – you cannot control everything in your life, and that is completely normal ⦁    Define your goals, but choose to think positively while working towards completing them Letting go of expectations will make you feel released if you won’t make it from the first try. Disappointment won’t be a part of your business life anymore, as you won’t really expect anything. You’ll just work hard towards your goals, and be happy with where you are. 4. Be Specific You are the leader, so you are the one who’s in charge of handing out tasks. If you want good outcomes, it’s important to give out specific tasks to each person. Delegate wisely. Show them that you trust in their judgment and are aware of their amazing qualities. Don’t try to over control their work. Check on them from time to time, but leave space for your employees to think freely. Avoid confusion by communicating properly. 5. Motivate Your Team   Last but not least, motivation is the key to success. As I mentioned previously, show your team that you trust them and care about them. Make time to chat with each one of them at least once every other day, and recognize their achievements if they’ve performed well. CONCLUSION: If you want to become a successful project manager, set proper goals and plan your days, choose the right team to work with, let go of any expectations, be specific, and motivate you team accordingly.  About The Author: Joe McLean is a dedicated, full-time freelance writer. He has the busiest schedule you can imagine due to the popularity he enjoys online. Even so, he still manages to work at his own pace and have an amazing social life. Joe says that he gets all the work done because he has discipline, and that this is what gives him the motivation to do it all in the first place.   The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Top_5_Strategy_Tips_to_Project_Management_Success

This Podcast Is Episode Number 0291, And It Will Be About New Tools 2018 that I Discovered and Want to Share With You  Today's Podcast Is Based On A Guest Article From Sandra Hayward The technological progress is moving too fast. Life has changed tremendously in the past few years and there are amazing tools that can make life easier. Whether you are studying, managing your business or simply enjoying your life, there are a lot of apps that you can use to realize your goals. I have tried a lot of apps and tools and some have actually changed my life.  Here are some of the best new tools that I want to share with you: 1. Pocket: This is one of the best content curation tools that every marketer should use. Content curation is the process of going through a lot of information and content in order to publish meaningful and valuable posts. Organizing and sharing existing content is extremely important because it helps you improve the status of your brand and increase your customers’ loyalty. This app is amazing because it allows you to save all your images, files, videos and articles in one place. Instead of sending yourself multiple emails with links that you should go through later or going through your bookmarks, this tool will help you save time and effort. It also integrates with other tools and apps for maximum convenience. You can also use it for personal purposes because it is so versatile. 2. Flipboard Gathering and collecting news from several sources can help you create your own online magazine. This app is a news aggregator that is used to collect the best online content that has already been shared on the internet. Focusing on the niches that are relevant to your business, you will be able to gain access to news that will keep your readers interested. You also get news published on different social media platforms. People trust a website that offers valuable information. You should always try to create informative articles, videos, and infographics that your target clients will find useful. Presenting news from various sources is definitely a plus. This app is used to gather all the information that might interest you on a personal level as well. A lot of students prefer to hire a professional service that offers different types of papers written in college. But if you prefer to write your own assignments, this app can be used to gain access to different relevant resources that you can read while studying.   3. Evernote: This is one of the most important apps that you can use to organize your data, tasks, time and goals. Evernote is a versatile tool that you should use to manage your personal and professional life at the same time. It can be synchronized across multiple devices and is compatible with every operating system. This is why it is considered to be one of the most widely used. You can use it to write your everyday to-do lists, shopping list or check the progress of your tasks against a checklist. Everything you write can be shared with other people to make sure that you are communicating with your employees, friends and family members in the most efficient way. The best thing about Evernote is that you can use it even when you don’t have an internet connection. Whether you are going through a list or simply checking some of the links you saved before, you can access everything while you are offline. 4. Reddit: Creating informative content improves your SEO, increases engagement and generates more leads to your website. All of these reasons will boost your sales and increase your brand’s loyalty. Reddit is an excellent content sharing platform that you can use to share your online content. It has an enormous amount of traffic and this means that you can gain access to a big number of leads who might be interested in your products or services. Users are organized in groups that are interested in certain themes or niches and this means that you get to identify your target customers easily. You will have to be careful about following the rules though, as the platform has some strict laws considering sales. Nevertheless, you can still present your content to people who will be most likely interested in what you offer. Moreover, this is an app that you can use to read about topics that interest you on the personal level. You are going to be among people who share the same interests. 5. Buffer: Your leads and target customers are using social media all the time. You need a good tool that will allow you to manage your social media content to make it accessible and easy to share. Buffer is one of the most trustworthy social media marketing tools because you can use it to schedule your posts on different platforms. You can easily manage the frequency of publishing your posts, analyze which ones were more efficient and why they were successful. CONCLUSION: These amazing tools are very easy to use. You can access them wherever you are to improve the quality of your life. Give them a try to see how they work. About The Author: Sandra Hayward is an author, a journalist and a single mother of two. She enjoys pottery, reading as well as spending a quiet quality time when her two twins are up to some mysterious project in their room.   The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_New_Tools_2018_that_I_Discovered_and_Want_to_Share_With_You

This Podcast Is Episode Number 0290, And It Will Be About Corey Phillips Home Pro Success Marketing And Operations Tips For Contractors Corey Philip Home Pro Success Podcast Interview Discussing Contractor Marketing & Operating Tips Corey Phillip of Home Pro Success is a regular guest on Contractor Success M.A.P. Podcast. In this episode he described a lot of tips contractors like you can put in action right now to generate more leads and put more money in the bank to operate and grow your construction contracting company. These are some of the same tried and true principles and techniques Corey and his team use to build their Gulf Coast Aluminum home services contracting company. This is one of those rare times when we will not add a lot of content to the blog post because so much meat and potatoes are covered in the Podcast we could not do it justice by writing about it. Hope you enjoy it and feel free to leave a comment. Warm Regards, Randal DeHart Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Corey Philip Home Pro Success Marketing And Operational Tips For Contractors

This Podcast Is Episode Number 0289, And It Will Be About Is Social Media Necessary for Construction Contractors?  Today's Podcast Is Based On A a Guest Article Is From Tom Woodie, Writer And Editor  Let’s clarify what we’re talking about and why most businesses don’t get it, Social Media Marketing is unlike any other type of Marketing. People use Social Media websites for social reasons and social by definition doesn’t include the in your face business advertising approach that we have become all too familiar with. Social Media is the back door to business growth and opportunity through customer interaction, sharing and listening. Follow along as I share thoughts on one of the most popular questions raised by Contractors today…..  How do small businesses in the building and home services sector use Facebook to acquire new clients / jobs? The simple answer is that most small businesses probably can not use Facebook as a primary source for acquiring new clients until they develop a substantial Facebook following!  But, with that said I strongly suggest that you be involved with Facebook to at least a minimum degree from this day moving forward if you aren’t already. All businesses should be on Facebook because your past customers and future prospects are using it and that’s a hard and proven fact. Six months or a year from now you may be kicking yourself for not getting started six months or a year ago! Most contractors are working as lean as ever, they barely have enough help to get a job done in this challenging economy. So when it comes to dedicating additional time and resources to Social Media in an attempt to expand their Marketing reach on Internet platforms like Facebook, contractors can often feel overwhelmed and frustrated. My suggestion is to spend an hour or two monthly at a minimum working on your Facebook Marketing and Social Media skills. This can be done by the business owner, a family member, office help, or any other designated person, but it should be done with regularity and done with a specific purpose, which we will get to. Social Media continues to grow by leaps and bounds. With Facebook set for an IPO that could value the social network between $75 billion and $100 billion, it’s probably safe to say it’s not just a fad. Google is also now in the Social Media game with Google+ so you know they must see it as an opportunity to expand their Internet domination. For today I’m going to stick with Facebook as the subject target because they have currently captured the majority of the Social Media market and many of you may already be using it. There are things that you can and should be doing right now on Facebook as a business to increase your exposure and grow your contacts. What you do today could ultimately have a huge impact on your ability to acquire new clients through Social Media Marketing in the months and years to come. It may turn out that Facebook has an incredible impact on buying behavior just as Google has. It may never reach that level of business / marketing penetration or it may be much greater. My point is that I don’t know where it’s going and I don’t think anyone else can accurately predict it either. To be on the safe side Contractor Power is going to be in the Social Media game and I suggest you do the same with your business. If it turns out that Facebook is the next big ticket to acquiring new clients / jobs, you will probably be miles ahead of the local competition by getting started today. The goal of your Facebook Marketing is to reach and influence as many prospects within your market area as possible. To do that effectively you have to get viewers to your Facebook page and have them LIKE your business by clicking LIKE. By clicking LIKE they become attached to your business and possibly have information about your company displayed on their Facebook page or wall. When Facebook friends visit their page they may see some type of information about your company. That in a nutshell is the exponential growth and branding potential that makes Social Media such an exciting Marketing Vehicle. Since Social Media Marketing is unlike any other type of Marketing, you must adjust your approach to make it work. Think and act SOCIALY to connect and build your contact numbers. I have yet to see any company be successful at this without starting the process off with a powerful offer and regular interaction. Something for FREE, a CONTEST, COUPON, Informative VIDEO, there has to be something in it for the viewer if you want them to LIKE your page. As you develop your LIKE numbers you will need to post information / comments / observations / pictures on a regular basis, once or twice per month as we mentioned earlier. The main reason for doing this is that the people attached to your site through the LIKE process receive a notification on their Facebook page that you have just posted new information. When friends see you on another friends wall the exponential sharing process is working at warp speed. CONCLUSION: To give you a real world example of a Social Media Marketing process we are using our Facebook page to distribute the remaining parts of this article and more. As of this writing the final article length and or part counts has yet to be determined. The only thing that I know for sure is that we are just scratching the surface of a very deep and quickly evolving new medium in Social Media. Visit our Facebook page for a continuation of this Social Media Marketing article that may help you understand, capitalize and grow your business.  Also see our special Contractor Power Marketing offers that are not available any place else. When you reach the link below you should log in or create an account if you haven’t already. It takes 30 seconds and no time is better then the present to get started. About The Author: Tom Woodie is a writer and editor. Now he works and writes for cost of linkedin profile writer service, he specializes in working with people since he was a recruiter. He is fond of writing, so he writes not only on his specifics, but also for other blogs and sites on various topics.   The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Is_Social_Media_Necessary_for_Construction_Contractors

This Podcast Is Episode Number 0288, And It Will Be About General Introduction and Steps Required in New Construction Today's Podcast Is Based On A Guest Article From Christine Bourne Professional Editor, Consultant And Author A house is no longer just a structure serving as a dwelling for one or more persons belonging to a family. Besides providing shelter, our houses provide refuge from life’s stresses and dangers. When building a new home the ultimate objective is to have a peaceful, relaxing and worry free living. The pursuit for serene and simple homes has led to a more realistic approach towards home design. Before initiating a new construction, it is important to research the design thoroughly. It is always advisable to build a home following standard building practices. The first step in the direction begins with planning of the budget. Comparisons on how much you are willing to spend and what your new home is likely to cost is very important. It gives an analysis of approximate costs that is then used to modify building plans to meet the budget. When choosing the land, thoroughly check the soil condition, zoning, drainage, building codes, and regulation of the region before you begin the construction. Planning a new home requires the proficiency of teams of experts. This process of new construction of homes begins by first selecting either a contractor or an architect who will then select an expert team of a surveyor, excavator and an interior designer. These professionals will assist you throughout the design process in accomplishing your dream home. Plans for a new home are either taken from catalogued plans or are custom designed. Building a plan from a stock requires minor modifications in room size, windows and door styles or other details. However, custom designed homes are created as per the requirements of the family that will be living there. The plan which best suits your needs should be chosen. After finalizing all the details, it is important to get a written contract signed and dated by both the contractor and the architect. The contract illustrates the project in detail and includes a list of all the parts to be integrated into the house. Ways to Minimize New Construction Costs When building a new construction expense is a major issue, which needs contemplation. Estimating costs before finalizing the plans is always beneficial. Analyzing cost details is crucial for minimizing the expenditure. Check out with builders who have constructed homes similar to your requirements in order to get a rough idea of the cost. It is important to estimate in advance the price per square footage. Smaller homes have higher cost per square foot than larger homes. Minor details in the design of your home can make a huge difference in its cost. Estimating construction costs before finalizing the blue prints is the best way to cut down expenses. Building homes with even-numbered size helps in reducing waste materials. Rectangular or dome shaped homes cost less to build by making efficient use of materials. Selecting one that does not require much of cleaning and grading can minimize site preparation costs. Inflation also plays a significant role when evaluating costs. In general, costs of building a new construction increases around 3 to 6 % every year. CONCLUSION: Cost overruns generally take place by making changes, overspending allowances or by encountering unforeseen problems. Allowing additional 10% to cover unforeseen costs is a good idea. The journey from the dream house to the real house can be made fruitful by applying the above guidelines.   About The Author: Christine Bourne is a professional editor, consultant and author of many posts in https://topessaybuy.com. She has a experience in working with struggling and busy students who just can't find time to complete that assignment. She also writes for many other publications and has experience in any topics. If you have a writing project in need of shoring up, she can help!   The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_General_Introduction_and_Steps_Required_in_New_Construction

This Podcast Is Episode Number 0287, And It Will Be About Invaluable Advice for Project Management Success In 2018  Today's Podcast Is Based On An Article From Alyssa Johnson Professional Academic Writer, Blogger, And Coach When it comes to project management, techniques are generally shaped by a mix of what is trendy and what is traditional in a given enterprise environment. What are the current trends successful in creating a plan, making assignments, and allowing other algorithms to pursue respective goals? A good project manager knows how to spot valuable current trends to utilize while maintaining a set of traditional principles that have worked well for them throughout their career. To improve your skills as a forward-thinking project manager, we invite you to consider these tips for successful project management in 2018: Project management today looks different than it did even in 2017. The process is constantly changing, which forces managers to continue updating their knowledge base. There is always new software to learn to use, and not all are of equal quality or benefit, yet you must familiarize yourself with it all. It is a perennial challenge for managers to understand the latest news in IT and keep their teams up-to-date.           https://unsplash.com/photos/a2VqhP3d4Vg 1. Be motivated This sounds ridiculously evident, but in practice still ignored. Project management is the field where professionals time after time have to accomplish the work no one else wants to do. It might sound frustrating, but the reality is, PMs may say ‘yes’ to a project and after a while procrastinating with thoughts ‘why on earth did I agreed?’. It happens to everyone. To avoid such traps, you only have to have two answers “oh yea!” otherwise “no.” You will notice how often you are going to say no. Nor you neither your team want you to manage the project you don’t fully enjoy. 2. The basics of planning Every goal has a start and an end. Be it large or small, for commercial purposes or not, it consists of a major task that you should divide into smaller, more manageable segments. You can transfer the small parts of the major task to specialists or complete by yourself. This scheme is applicable to any type of task you have before you, such as renewing an apartment lease, starting a new business, going shopping, or even cooking dinner. The main idea is to complete all smaller tasks so that you can quickly and completely reach the ultimate goal. 3. Get a team and give up micromanagement You are good at managing and organizing projects. At the same time, you are bad at, assuming, web design, or writing content, or translating texts. If you believe you are good at something but management, you are doing micromanagement. 4. Successful mindset: everything can be managed For every project manager from junior to professional, it is important to find out how to maximize the chances of crashing a project’s goal. On the one hand, the person should acknowledge and remember, that all the circumstances depend on her or him. Everything can be adjusted, and every problem can be solved. The second important pattern of a successful mindset is utilizing PM tools. It is never a good idea to rely on intuition in making decisions, estimating time frames, or assigning a specialist. Everything should be tracked and thoughts through. 5. Universal project management advice For every project manager, from junior to professional, it is important to find out how to maximize the chances of crushing your project’s goal. On the one hand, each person should act as if all circumstances are dependent on her or him. Proceed with the mentality that you can adjust everything, and every problem is solvable. The second important pattern of a successful management mindset is utilizing PM tools. It is never a good idea to rely solely on intuition when making decisions, estimating periods, or assigning a specialist to a particular sub-task. Be sure to track everything and think through it thoroughly. 6. Braindump The first tip after receiving your project assignment is to jot down each idea that comes to mind. It does not matter how ridiculous it sounds, or if it makes no sense at all. You never know what you may find useful in the middle of the project when everyone is exhausted and generating zero fresh ideas. Write everything down, and put it aside for the time being. During the development process, every PM should consider six braindump focus areas: •   Tasks •   Ideas •   Resources •   Personnel •   Questions •   Problems Consider your crazy idea—i.e., how it looks before every bullet—and then put it aside to look at later. The more you retrieve from your head and put down on paper (or save in the cloud), the more space and mental energy you’ll have for productive, concentrated, and fast performances. Use boards, notepads, or other tools to keep all information you need to remember. It can serve as an external hard drive for your brain, relieving PMs from attempts to keep all juggling balls in the air at once. 7. Use a unified cloud Trying to find files saved in different cloud keepers, folders and all the mess of twenty browser tabs eventually appears not only frustrating but also to be a major time-killer. Teach your team and everyone you are working with to use the same cloud and keep to a consistent structure. A universal truth, this eases life significantly. It is also should be established and agreed upon before the work has started. Google Drive is the most common tool to share files today. Tip: Before you begin, make sure you don’t have automated synchronizations with your photo gallery (not only the laptop but by phone as well) unless you prefer sharing your photos with colleagues. 8. Simplicity Today we have plenty of attractive tools and secrets that continue to develop every day. PMs often want to try it all and find what is best for the team. It’s a nice idea if your schedule is entirely devoid of projects for the next few weeks. Discovering new tools, writing new guides, researching which of them are the best fit is another project unto itself that requires time and effort. If you are already overloaded with tasks and decide to reorganize the folder hierarchy or change the naming system, it won’t end well. Keep every structure as simple as you can: Keep It Simple, Stupid!  Rework it only when you have enough time to give it the necessary focus.         https://unsplash.com/photos/_r4DM9jIaKY 9. Naming, sharing, calendar Files have name and tags. Use both for structuring purposes. Project managers should aim to create a naming system that makes every file recognizable and easily retrievable by everyone in the team independently. Whether your team members are in Rio de Janeiro, Paris, or Shanghai, the language of file labeling should be universally clear. The calendar is another structural element, which makes things done timely and keeps track of time. This is particularly important for international students working on academic projects across continents to keep in harmony. If you’re in Dubai, but need coursework help in London, it is especially helpful to keep your calendar in sync to avoid missing deadlines.     10. Communication Slack, Trello, and Quip are generally the best options for commercial chatting. Instant messaging requires time and effort. Don’t force people to use Skype, Telegram or other messengers oriented towards social media. Another bad idea is using a private account. Imagine chat windows from your client and mom right next to each other--the risk of confusing the two is high. In short, it is not ideal for planning projects and cultivating corporate ideas. These communication devices work best for project planning and running corporate communication.   Conclusion IPs for successful project management are developing very fast. While others are trying to find out what is modern and appropriate today in 2018, you can utilize traditional winning project management steps and keep up with the year’s trends at the same time. Always remember to keep it simple: the more tools you use, the more time you spend on planning. About The Author:  Alyssa Johnson is a professional academic writer, blogger, and coach. The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Invaluable_Advice_for_Project_Management_Success_In_2018

This Podcast Is Episode Number 0285, And It Will Be About Contractor Bookkeeping Issues With Accounts Payable It is easy to put transactions in Accounts Payable (A/P) Aging Summary, and them forget about them. When writing a check from the checking QuickBooks does not automatically go look to see if you put something in Accounts Payable. Sometimes Accounts Payable will have transactions in Accounts Payable that do not belong there. For Example: Credit card balances or monthly payments. Credit cards like checking and savings accounts need to have all their transactions entered in and reconciled. Short-cutting and putting in a bill will distort the financial statements and will not have a clear understanding of details. Taxes due to the Internal Revenue Service, State, and Local Payroll taxes or Sales tax-related obligations. Employee or owners child support payments do not belong in Accounts Payable. Payments to and from the company and between owners is Owners Draw, Loan to Members or Loan To Shareholder and related transactions do not belong in Accounts Payable because you are not an outside vendor. Do not create a bill for the company to pay. Anytime it is a company expense; the company should pay direct. There is nothing messier than constant reimbursements to the owner by the company. A bill with no detail just looks like a bogus payment to the owner trying to take money out the company that is being masked as an expense. The old saying “Devil In The Details” Transactions in QuickBooks need to be explainable without any need to have a story problem to go with it. The Memo line in QuickBooks is short for a reason – less is better and more transactions are better than fewer transactions. Annual tax returns are many pages giving the detail (which may be stated over and over again on numerous pages). As with Accounts Receivable, the same type of detail applies to Accounts Payable (A/P) Aging Summary. Accounts Payable (A/P) Aging Summary Is Like The Fuel Gauge On Your Vehicle Are the transactions Current, 1-30, 31-60, 61-90, >90 and Total? Add in the dimension of payment can be done from multiple banks, credit card accounts and in the case of suppliers, there may be credited to be applied. Any time there are unpaid balances the first place to look is, did the amount get paid directly from the checking account? Was the amount slightly different (including a late charge or additional vendor bill not entered into QuickBooks)? Again if transactions are in as Accounts Payable, that should not be it gives the appearance of overinflated expenses. To be in QuickBooks under Accounts Payable, the transaction is being entered in as a bill. Any payments paid directly by the checkbook does not automatically know that a bill has been created. Same with any payment made with a credit card; there is no link between the credit card payment and the bill unless QuickBooks is told the bill was paid by credit card. Negative numbers in Accounts Payable (A/P) Summary means that vendor was paid as a bill but without any bill being entered. Accounts Payable aging report reflects how long it is taking you to pay your bills. Unless you have won the lottery (which we all want to do), then you need to collect before paying your bills. The most favorite way for Contractors to pay their bills is to Collect a job deposit, buy a new vehicle, tools or equipment and then pay any outstanding bills. When paying Old Bills with New Money (not money collected from the job that the billed were associated with) is “Robbing Peter To Pay Paul” (author unknown) I get it. It is a more natural number to know. How much your customer owes you (especially if the job is Time and Material or Cost Plus) is hard. Not all of the bills may not have arrived from your Vendors or Sub Contractors. Then there is the issue of how you billed. Was it clear and easy for the customer to pay you? What is guaranteed is the Bills will come and continue to occur. You may forget or forgive to the bill and receive payment from your Customer, but it is unrealistic to expect or hope that your Vendors, Suppliers or Subcontractors will do the same. Bills, bills, and more bills are setups on auto-pay so they will get their money. Question is how will you pay the bills? When will you pay the bills? Are you paying with Income from Customers? Credit Cards racking up your debt? The line of Credit which again is racking up debt? Personal savings or investments? (borrowing from tomorrow to pay for yesterday) Borrowing on your House? Borrowing from a Pay Day Type of Lender (some take repayment daily automatically from your banking account) Borrowing from the Government by not filing and paying by the due dates. Keeping up and paying bills is a challenge in the best of times. With proper bookkeeping you can know Whom You Owe, When Your Payment Is Due, If you plan you can pay off the balance in full. Moreover, my favorite is not double pay if it can be avoided. It is a big deal to know the rules. Sometimes asking for a payment plan is the only option. If it is necessary, ask nicely, ask politely, ask as long of time pay as possible, for as small of a monthly payment as they will give you. It is better to double up on a low payment (to pay off sooner) then have a large payment that is impossible to pay.    Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business. The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_Contractor_Bookkeeping_Problems_With_Payables

This Podcast Is Episode Number 0284, And It Will Be About The Valve Stem Sales Strategy: Close More Sales Using Story & Trust, Without Sales Tactics Corey Phillip of Home Pro Success is a regular guest on Contractor Success M.A.P. Podcast. In this episode he described The Valve Stem Strategy that he and his team use to build their Gulf Coast Aluminum home services contracting company. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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 Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors Success Map Corey Philp Home Pro Success Contractor Marketing Valve Stem Stra

This Podcast Is Episode Number 0283, And It Will Be About Every Contractor Should be Paperless - And Here’s Why Today's Podcast Is Based On A Guest Article Is From Anastasia Harold - Coolfront Affiliate Manager Running a contracting company has countless challenges. Most of your time and energy is usually focused on customer satisfaction, rightfully so. However, things such as billing, invoicing and paperwork are critical parts of owning a business but are often neglected or mismanaged. Paperless invoicing and billing solve a variety of these issues. Sometimes paperwork is lost altogether. A cloud-based paperless system stores all your important documents on secure servers, so nothing is ever truly lost. In addition, digital documents are rarely lost by your customers, the ones who need to pay you! And even if they do lose it, it’s easy to simply resend the digital version. Digital paperwork is easy to read. It’s much less susceptible to errors, thanks to autocorrect and automatic totally of line items. If the people in your office are struggling to decipher handwriting and calculate totals, chances are your customers are as well. Figuring out discounts and sales tax can be confusing for even the most experienced person. Electronic invoices take the guesswork out of reading and computing. Lastly, and perhaps most importantly, is cost. Paperless saves you money, no matter how you slice it. In fact, some options such as the Coolfront Mobile app can increase your profits by 30%, thanks to an increase in efficiency and the built in zero-cost aspect, coupled with built in flat rate pricing customized to your business. For a free trial of a zero-cost paperless invoicing system, featuring a fully managed flat rate pricing database for HVAC, plumbing and electrical repairs, visit www.coolfront.com/fasteasyaccounting Have questions or need help getting started? Tweet me @coolfrontstasia or connect with me on Linkedin Anastasia Harold - Coolfront Affiliate Manager I Highly Recommend all HVAC and Plumbing contractors visit www.coolfront.com/fasteasyaccounting and get to know Anastasia Harold. She is a valuable resource to all contractors. Please let her know Randal DeHart, The Contractors Accountant, recommended you. About The Author: ---------------------------------------------- The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Every_Contractor_Should_be_Paperless_And_Here_Is_Why

This Podcast Is Episode Number 0282, And It Will Be About Three Easy Ways for Contractors to Save Money on Home and Kitchen Design   Today's Guest Article Is From Mason Gregory When designing a home, it can be very easy to allow the costs to mount up and to get out of hand. Contractor who need to save money can struggle to know where to cut back, so this article will give three top tips for easy ways to cut costs and to get great value for money. 1. Opt For An Open Floor Plan If you go for an open floor plan for your home design, you’ll find that you can use a smaller footprint but with greater flexibility. Planning for one large downstairs room that incorporates a kitchen opening into one larger space will allow greater versatility when it comes to how to use that space. One family may choose to use that space for dining and relaxing, while another family might prefer to use part of the area for studying or work, and yet another might want to create a play space for the kids within the larger open plan room. Without the need for any additional dividers, internal walls or doors, you can maximize the floor space while minimizing costs. 2. Use Salvaged Materials If there are any existing materials in the property which can be salvaged and re-used as part of the new design, this is a great way of saving money. Any leftover lumber, for example, could be incorporated into some new shelving, so take the time to determine whether any scraps are really rubbish before throwing them away. Not only can you use materials which have been salvaged from the old design, you can also use reclaimed materials. Reclaimed materials are not only extremely cost effective when compared to those which have been newly sourced, but they are also environmentally sound. With increasing numbers of people keen to reduce their carbon footprint, using salvaged items as part of any home or kitchen design project increases sustainability and brings the project in line with 21st century goals and trends. 3. Shop Around For Value In areas where you can’t find reclaimed items, or where it would be more cost effective to buy new, it’s always important to shop around to find the best possible value for money. The kitchen is one area of home design where you can end up over-spending dramatically, and therefore taking the time to look into the most affordable yet high quality products on the market today is essential. You can do this quickly and easily by visiting a site like https://kitchenfaucets.reviews/. Here, you can find not only the best products to fit into your budget, but those which also meet your individual needs. You will also find genuine expert opinions to give you a good idea of what to expect from each product. Taking the time to read the relevant information about what to look for when shopping for kitchen fixtures and fittings will enable you to make an informed purchasing decision, while the handy pros and cons will allow you to see at a glance which products best match your requirements. CONCLUSION: The more info and great deals you check out, the best promotions you’ll find and the better value for money you’re sure to enjoy. Editor's Comments: The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open Most Contractors Setup QuickBooks Or Xero Online Accounting Using: #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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Three_Easy_ways_for_Contractors_to_Save_Money_on_Home_and_Kitchen

This Podcast Is Episode Number 0281, And It Will Be About How to Write a Proposal To Win more Construction Projects Today's Guest Article Is From Emily Watts The construction market is very competitive, and this means that you should be able to write the most attractive proposal. The bidding process can be a little bit frustrating if you don’t know how to do it right. But learning how to write a business proposal will definitely improve your chances. The art of proposal writing is all about selling yourself. You need to convince your target clients that you are the best for the job. Most professionals will think about cutting down on their profits in order to land more bids. But this is not the best thing that you can do. As a matter of fact, this policy can a lot more in the long run. A contractor who does this might be landing more projects, but won’t be able to improve their services or pay their employees because they are not making enough profit. If you are planning to write your own offer, it is a good idea to focus on the things that you can actually do. Once you have established your status in the market, you can move on to more challenging opportunities. If you are willing to save your time, effort and money while landing more job opportunities, there are a few tips that you can follow while writing your business proposal: 1. Provide the Needed Information Make sure that you provided information about your name, your company, the logo and the nature of the operations. You should also provide a detailed overview of the project explaining when and how you plan to execute it. This shows your client that you’ve done enough research studying the brief and the requirements of the project. If you don’t know how to write a good proposal, you can always ask for professional help. Try CustomWriting.com - place to pay someone to write my essay, that is going to improve your chances in writing an attractive and correct business proposal. 2. Get into the details A project proposal format should include a section for the details and specifications of the project. In this section, you should specify any diagrams, plans or infographics that can explain the nature of the project. You should also provide data about the materials needed to finish the job in addition to the number of workers who will work on the project. You should provide a list of more clarifications that the client might not have addressed in their brief. This shows your client that you are probably the best fit for the job. 3. Address the Concerns Your client needs to know that you are ready to handle problems before they happen. You should explain how you will manage liability, risk or other concerns that might arise as you work on the project. It is a good idea to be completely honest about your view and understanding of how the job should be done as this will eliminate any chance of conflict. 4. Be Clear about the Timeline Your client will not only favor the lowest bid. They are also concerned about the contractor who can finish the job on time. It is a good idea to divide your proposal into several milestones that your client will be more able to follow up with. This will enable your client to fully assess your offer by giving them a comprehensive idea of when the job will be finished. 5.  Be Specific About the Costs If you look for a good proposal writing sample, you will find that it is very important to break down the costs. You should make a list of all the equipment that should be used whether it is your own or rented for the job. You should also break down your business offer into specialty areas and determine the cost of each one. 6. End it Right You should state your fees clearly at the end of your proposal. Explain the allowances and other markups that make up the price you determine. Make sure that you include a sample contract as this will give your client an idea of what they should expect if they choose to do business with you. Also, make sure that they know how to contact you if they choose your offer. CONCLUSION: Winning the bid for a construction project is not all about the money. A client will choose an expensive contract if they think that it is totally worth it. Make sure that you do your homework by providing an account of your work expertise and submit a killer proposal that they can’t refuse. The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT Download the Contractors APP today from the App Store or Android Store Access Code: FEAHEROS   Click here to download the App on Android: Click here to download the App on iOS: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not?             Editor's Comments: The Information Shown Below Is From Fast Easy Accounting The Information Shown Below Is From Fast Easy Accounting OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT   The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_How_to_Write_a_Proposal_To_Win_more_Construction_Projects

This Podcast Is Episode Number 0280, And It Will Be About Unique Contractor Bookkeeping Problems With Receivables Challenges Of Keeping Accounts Receivable Simple And Up To Date Creating an invoice for the entire project seems like it is the simple way to track payments and have the current balance. The harsh reality is that if all of the work is NOT done Accounts receivable is reflecting a balance due that is NOT REAL. With Change Orders to the projects (up or down), the original contract is usually not the end number. Accounts receivable is a reflection of money you expect to collect NOW. More extensive projects (especially new construction) the billing and payment schedule typically is a bill on the 25th of the month and hope to be paid on or before the 10th of the following month. Anything not paid is going to age on the Accounts Receivable (A/R) Aging Summary. Job Deposits, Retention, Notes Receivable (long-term payment plans) are not part of Accounts Receivable. Credits from suppliers, repayment of Loans to Owners, Employees, Friends, and Family do not belong in Accounts Receivable. Follow up as necessary for payment but Accounts Receivable is for expected Income from Customers and clients for work performed. Accounts Receivable (A/R) Aging Summary Is Like The Tachometer On Your Vehicle Do you have numbers in Current, 1-30, 31-60, 61-90, >90? What is your Total? Reminder you have already paid your Labor, Material, Other Costs, Subcontractor, Taxes on all this money. Every dollar sitting there is a big deal. Your contractor (as a sub) may be pay as paid and you might have that same agreement with your subcontractors, but your supplier has been paid or will expect to be NOW! Reminder – You should be collecting Job Deposits Do Not Borrow Money On Your Credit Card At 18% And Lend It At 0% You Are Not A Bank - Never use your high interest credit cards and supplier accounts to provide financing to your customers in the form of providing a lot of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. McDonald's Restaurants Earns - Massive profits and part of the reason is cash flow. I love their business model; customers order first, pay second and get food last. No invoicing, no waiting for the check to arrive and hoping it will clear the bank. They say just Show Me The Money! You Can Offer Financing - Accept credit cards! Get setup at a bank and/or credit union that will offer to loan your construction client's money for small projects under $25,000. They sign paperwork with the lender; you do the work and get paid. Accepting Credit And Debit Cards - is like having an "Electronic Armored Car" on standby 24 hours a day, seven days a week ready to take your money to your bank automatically. If your QuickBooks is setup properly an invoice can be emailed to your customer or clients and when they open it there is an option for them to pay by credit card immediately. For Example - You finished a construction project at 01:00PM, went to your office at 05:00PM, opened QuickBooks, put together an invoice and emailed it to your customer at 06:00PM. They arrive at home at 07:00PM. After dinner they check their email at 09:00PM. They open your email review your invoice and pay the bill at 10:00PM. Don't Ever Finance - Your customer or client's project by providing substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later down the road.  Having Owned And Operated - Several construction businesses I know how important cash flow is to the success or failure of any business and especially construction companies like yours! We Have Clients - Who took a while to understand why I was hard on them and kept saying "Get The Money". Once they realized what real peace of mind was, paying all the bills on time and having money left over for vacations, toys and to support their favorite charities it became crystal clear. Get Enough Job Deposits - And progress payments so that you are always using "Other People's Money" (O.P.M.) to pay for the labor, material, subcontractors, rental equipment and overhead of their construction projects.When you invoice your customer for the entire amount of the job it makes it very hard to keep track of the unbilled portion because as change orders occur (up or down) the amount due to changes. Then the contractor is trying to figure out what the current billing is due outside of QuickBooks. Creating a double billing will then run the risk of overstating income, being liable for and paying taxes on a number that is not real. Cleaning up the QuickBooks file, we find contractors will have entered into QuickBooks an Estimate as an Invoice based on their best hope that the Yes from their customer is real.Unable paid balances in Accounts Receivable Aging Summary can be as simple as sales tax adjustment, payment received and no invoice was created. Slight overpayment where client rounded up payment for convenience (tip). Other times payment was posted directly to the checking account, paid into Paypal (then a different amount transferred to checking) or money received was less due to merchant services fees. All over the course of time will distort the numbers. You the Contractor looking at the Balance Sheet and say "I can buy [fill in the blank] because I have this much in Accounts Receivable". The banker looks at the Accounts Receivable and wonders why you cannot or won’t collect the balance due. Many tax accountants suggest any amounts over 90 days should be written off. Lots of bad debts are not helpful in getting loans from the bank. Again negative numbers and low balances are invoicing issues. Large balances are sometimes the result of a number billed ahead of work performed or a result of a poor contract or collection policy. Taking credit cards is cheap in comparison to penalties and late fees, especially to State and Federal Government. The question you could ask yourself is paying 2% discount less than paying 18% or more in fines and penalties? In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business. Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_Contractor_Bookkeeping_Problems_With_Receivables

This Podcast Is Episode Number 0279, And It Will Be About Construction Contractors Need A Nudge To Change Construction Contractors know lots about the work they do. As an expert in their fields from finish carpentry, tile setter, masonry, roofer or landscaper the finished product looks beautiful. When a skilled craftsman does the work, it looks effortless. Others think I could have done that. Most of the time we are so busy looking for the finished product that we are unappreciative of all the work that happens behind the walls, floor, and ceilings. It is magic when we turn on the light switch, run the dishwasher, start a load of laundry and take a shower or turn the thermostat up or down. Air Conditioning is awesome on a hot day. For us; in the Seattle area, “Hot” is only slightly warm to Phoenix, Arizona or many parts of California. Seattle gets much Rain and once in awhile snow (like over my house) it may be raining everywhere else, but if there is snow in the forecast, I will see snow for a little while. It may not stick but is usually what you want to see on Thanksgiving Day and Christmas Day. As May is over; I am thinking of a couple of remarkable years. One year it rained almost every day; usually, late afternoon, early evening and was nice during the day. Another year we had hot, sunny days. It was air conditioner weather (for Seattle that is 80 Degrees) all ten days of it. Then it’s gone.   Rest of the summer is warm if we are lucky and chilly, gloomy and gray when we are not. We keep thinking those few sunny days in May could not have been our entire summer. However, that year – It was.   Many people say I will start something new Next Year; there is always the Next Year. There is always, today, tomorrow, this week, next week, this month, next month and finally next year.  Question is what are you waiting for? Are you starting something or ending something? Reminder stating an S-Corp can be done at any time.   I hear this a lot. I am thinking about this. Thinking and planning is always a good thing. There is a HUGE DIFFERENCE between planning forever and stepping out and doing something. Commencing To Begin! Well known phase is “You Can Fix Something” (author unknown) I like chatting with contractors like you and learning about your business. One of the things I learned is that many people who are an “artist at their craft” are not usually as good about the paperwork. That is okay. There is a Difference Between Reasons and Results. The government likes results (numbers, reports) One of the reasons is that there is an illusion that “I am fantastic at “this” so anybody can do “that.” It can’t be that hard; forgetting all of the time, the effort it took to be the master craftsman at what they do.     Another reason is the illusion of time. Bookkeeping should not take very long. I will get to it tomorrow. As weeks and months go by. Tomorrow never comes, and the paperwork piles up from Yesterday and Today.  Tomorrow becomes today, and you still do not have enough time; soon it will be Yesterday. Choosing software based on its ability to sync with an app does not always have the desired results. Garbage in still equals garbage out no matter how many apps you tell to “Just Do It.”   It is unrealistic to expect Software and an App to understand your business and give you proper reports.  If you don’t know what you are doing “How do you expect to be able to tell the software what to do?” Choosing Somebody, anybody to do your bookkeeping can have a negative impact on your Budget. Numerous Tax Accountants try to do the bookkeeping and get lost. My suggestion is to choose someone who specializes in Construction Accounting. I have had prospects tell me that their Neighborhood High School Student, their Nanny, their friend, on a few occasions a condition of being girlfriend was that that person had to do the bookkeeping. Rinse and Repeat Model! Recommend that spouses always be involved in the business.   Your spouse is your partner. Who better to help watch the money.   As a small contractor, the money goes fast enough without any outside help. Ownership (even a small percentage) means that your spouse has check-writing authority with the bank. You are busy but what if something happened to you?      Ownership also allows your spouse to talk to Government Agencies, make payment plans as needed. Without that; each of the agencies could in effect “Pat your spouse on the head like a little kid” and say we don’t have to talk to your spouse because his | her name is not on any of the paperwork (HA, HA) In my opinion, some of them are quite gleeful about it. Remember, they can’t see the crisis from their house. The ability to move money, write a check does not impact their lives in any negative way. We are here to help. Promote owners and spouses have a basic understanding of their numbers. If you are feeling confident in your choice of “Who Does Your Bookkeeping” Fantastic.  We have Customized products to assist on www.FastEasyAccountingStore.com We are continually improving our processes and workflows. Sometimes we choose software that “Looks Good” but in reality does not always work as well as we like. The software may be too hard for Staff or Clients to use. Other times we find that the software after a few updates works wonderfully and we embrace using it. If it does not work, we look for other options. What 3rd Party software do you use? Our Outsourced Accounting Clients are excited whenever we find a product that works for everyone. Clients have embraced Document Management Systems because it frees up their time and limits the number of documents that need to be scanned into our paperless server. We love Paper because we can convert it to paperless and store it electronically. We added our Fast Easy Accounting Contractors App because clients wanted more ways to be able to link to software using their phones.It is a Free App. So of the programs require a subscription to access. Sign up and use the Free portions. This allows for links used on the desktop to be available in a mobile environment. Read our Blogs.  We welcome Guest Posts because everyone benefits from the ideas of others. Thinking Happy Thoughts For Everyone. Sharie Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business. Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construction_Contractors_Need_A_Nudge_To_Change

This Podcast Is Episode Number 0278, And It Will Be About Hot New Construction Accounting Services At Fast Easy Accounting New Services For Contractors At Fast Easy Accounting We are continually searching for more and better ways to remove time wasting paperwork chores so you can focus on what you do best, running your construction company. Change occurs every day in our lives. (Hint: Only wet babies like change). Fast Easy Accounting must adapt to the needs of our Clients in a world that is mobile. Ten years ago, we only worked with clients in Washington State. Now our clients are all over the USA. With the addition of Fast Easy Accounting Store, we have helped Construction Contractors outside of the US. Contractors all over the world have common issues. QuickBooks and Xero Customized Setup, Chart of Accounts, Items Lists – We Can Help A Little or A Lot depending on your needs. Our Primary Focus Has Been Construction Contractors In The USA Now we have some new tools, technology and apps like Xero Accounting For Contractors which will allow us to support construction contractors in more countries including Canada. We understand what you need and especially the need to turn Paperwork Chaos into understandable reports. Whenever possible, we quote Flat Rate Price For Your Contractor Bookkeeping Needs. The process is a little more complicated when using QuickBooks Desktop, cleaning up missing transactions and merging all of your existing “stuff” to our Customized Setup for Construction Contractors. Reminder: Deadline To File 2017 Annual Taxes Is Coming Have you filed 2015, 2016, 2017 tax returns? State and Federal Tax Laws are always changing. To save money on your annual taxes, we recommend you have a Tax Accountant – and convert your Construction Company to an S-Corp. We will continue to use QuickBooks Desktop In The Cloud This works with all Windows, Android or Apple device. Speaking of which QuickBooks MAC Version was discontinued in 2016 so for as long as it works – Enjoy. Other industries are changing and embracing new technology and so must Fast Easy Accounting. As a Construction Contractor, you need answers and solutions that work where you are, when you are available; which means in your truck on the job site or meeting clients. We are expanding from only using QuickBooks Desktop to adding Xero Accounting Software to our Construction Accounting Practice because in our expert opinion as Construction Accountants that a Construction Contractor like you needs solutions that QuickBooks Desktop is never going to provide! Being mobile and using apps that all work together is wonderful. Not all app play well together; it is not a setup, integrate and never touch it again process – no matter what the sales department will tell you.   Custom QuickBooks Setup For Construction Contractors   Custom Xero Setup For Construction Contractors What is Outsourced Accounting?  We do the bookkeeping; you create invoices, collect money, pay bills. What is Do-It-Yourself Accounting” You do everything with little or no support? Remember there are only so many hours in the day.  Do you know what 10 minutes are costing you?  What would you do differently with it?  What Is Xero Accounting For Construction Contractors? We are expanding from only using QuickBooks Desktop to adding Xero Accounting Software to our Construction Accounting Practice because in our expert opinion as Construction Accountants that a Construction Contractor like you needs solutions that QuickBooks Desktop is never going to provide! We always think in terms of what does a Contractor like you need? Not what we think is cool, rather what do you want and what keeps you awake at night? What drives you crazy? Moreover, how we can help you become more Process Dependent and less People Dependent because you cannot count on people to do what you want. QuickBooks Desktop has met the needs of contractors for decades since it was introduced in 1991 which is when we first started using it. We will continue supporting contractors in our Accounting Practice who are using  QuickBooks Desktop in the cloud when it is the best fit for their company. For contractors who decide to switch from QuickBooks Desktop, QuickBooks Online, QuickBooks Mac or most other accounting software and just plain Excel documents and paper we can transfer your data into Xero and, you can access it from any web-enabled Windows, Android or Apple device. Since QuickBooks Mac was discontinued in 2016, it may be time to make the switch to Xero the perfect alternative. Let's Talk Straight Owner To Owner Randal and Sharie have been where you are now which means we feel your pain of coming home after a hard day on the job and have to sit at your desk and stare at a pile of paperwork. Change is hard. Just as you have changed the tools, you use in the field, for example, the hand held hammer vs. the nail gun, so must your Accounting Software change to meet your current needs. How you deal with your receipts, invoicing, job costing, tracking employee time on the job with GPS tracking to avoid paying for time, not on the job needs to change to something that is easy to use and mobile friendly. Using our Custom Xero Set Up For Contractors and our recommended apps gives you a clear picture of the numbers using Dashboards, Graphs, Financial Reports, Cash Flow Reports, Key Performance Indicators, Job Costing Reports work together to provide insights to operate and grow your Construction Company and you can do it all in LESS THAN TEN MINUTES A DAY! After countless hours of research and analysis, we chose Xero Accounting Software because we have an extensive background in construction and construction accounting which means we understand you, your needs, wants, wishes and desires are as a contractor. WorkFlowMAX Construction Project Tracking Job Costing Three inventions that changed the world for Construction Contractors: The Wheel Sliced Bread WorkFlowMax I have searched far and wide starting in 1976 for a simple, easy to use Job Costing System and everything available either cost way to much or was based on a cheese-ball cobbled together mess of Excel sheets, I developed my fair share of these monstrosities and none of them are worth a darn! When I discovered the updated and beautifully designed WorkFlowMax it was like an oasis in the desert! This is going to be a game changer for contractors like you who are smart enough to get on board early. And to make is easy we are offering a Test Drive of Xero For Contractor + WorkflowMax For Contractor + Projects For Contractor for $9.95! Outsourced Accounting Promotion – Flat Rate Pricing Using Xero Accounting Software https://www.fasteasyaccounting.com/xero-contractor-outsourced-accounting New Promotion - Developed To Address Your Concerns What Xero Looks Like With Your Data.   https://www.fasteasyaccounting.com/contractor-bookkeeping-trial Continuing to use QuickBooks Desktop is always an option. We can convert from your QuickBooks Online file to QuickBooks Desktop. The most cost-effective method is choosing QuickBooks Setup (if setting up a new file) Chart of Accounts, Item Lists if upgrading an existing QuickBooks file.  Short Answer – Yes, We Can Help!.    Free Gift From Fast Easy Accounting. https://www.fasteasyaccounting.com/app Many features are part of the app and free for everyone to use.  Others are for our client's convenience and require a login.       Let us know if we can be of assistance. Enjoy your day. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business. Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Hot_New_Construction_Accounting_Services_At_Fast_Easy_Accounting

This Podcast Is Episode Number 0277, And It Will Be About Construction Contractor Embezzlement Detective - Kelly Paxton Part 2 of 2 Kelly Paxton specializes in finding and helping Construction Contractors, other businesses, and government agencies root out Pink-Collar Crime in their companies. The term Pink-Collar Crime was made popular Dr. Kathleen Daly in the 1980s to describe a type of embezzlement crime committed by female employees who may have limited opportunity. It is thought women in this situation may have a history of committing low level crimes such as check kiting and bookkeeping fraud. Part of the reasoning is women tend to be in less powerful positions compared to men who had a history of engaging white-collar crime. During our Podcast interview which you can listen to Part 1 by clicking the play button above I asked Kelly why she became interested in Pink Collar Crime. She replied "...When I started working at the Sheriff’s Office I became intimately involved in seeing the devastation caused by small business embezzlement. What I did not know was the perpetrator committing these crimes. When I was a federal agent most of my targets were typical White Collar Criminals—in other words men. Kelly goes on to say she was seeing women who had violated the trust of their employers. Out of all the cases she worked at the Sheriff’s Office there was only one male embezzler they came across. The rest were women, all kinds of women: old, young and middle aged. Some had gambling habits, some of them wanted to buy stuff they didn't need, with money they didn't have to impress people. They appeared to share two things in common— they had earned their supervisor's trust and they had the opportunity to embezzle. The following is a true story from Pink-Collar-Crime Wall of Shame: Stealing from her sister... Another medical office embezzlement but this one is a family affair.  Older sister  who is a well paid ($110k per year) office manager stole from her younger sister’s medical practice.  Can you imagine the Thanksgiving dinner they had?  Well it probably didn’t happen.  Reading the story http://bit.ly/2A53LiM is like a soap opera.  At this point therapy may not help. According to the affidavit: “Additionally, airplane flights and in-flight charges were purchased using the card, along with lengthy expensive hotel stays and various vacation charges,…Also noted were charges for plastic surgery and cosmetics.“Lastly, many personal charges (were made), such as car repair, car registration, gas, music, horse boarding, various saddles and accessories for horses and other pets and miscellaneous grocery shopping, etc.” Then in 2014 she came down with an eating disorder and other health issues that prompted her to begin “binge shopping,” according to the affidavit. In addition, one of her daughters began “doing really well with horse riding,” so she began paying for those expenses with clinic credit cards. For everyone who follows me on Twitter or has seen my presentation you know #horsesareaclue. They are expensive and a pink flag. By summer 2016, Shannon Nagle said “she had ‘all sorts of justifications’ for what she was doing and was ‘angry and in denial which was a bad combo,'” the affidavit states. “She felt unappreciated at work, wasn’t getting raises while other employees were and felt that (Melinda) Nagle and (her business partner) believed she wasn’t worth her salary,” according to Fain’s affidavit. Those rationalizations are never a reason to steal but businesses need to understand that everyone rationalizes and opportunity is the only part of the #fraudtriangle you can control. The takeaway from this sad story is that trust but verify even if they are a family member.  I trust my sister with my life but not every family is that lucky. Click Here For Part 1 Podcast Interview With Kelly Paxton, CFE, PI Speaker And Fraud Consultant Editor’s Note: I have only known Kelly Paxton a short time and I trust her and find she is very knowledgeable and capable on the subject of embezzlement and fraud. I Highly Recommend all contractors spend some time on her website Pink-Collar Crime and get to know her. Kelly is a valuable resource to all contractors. Please let her know Randal DeHart, The Contractors Accountant, recommended you. About The Author: Kelly Paxton has more than 13 years of law enforcement experience. Kelly is a Certified Fraud Examiner, Private Investigator and Social Media Intelligence Analyst. Ms. Paxton started her career in law enforcement as a Special Agent for US Customs Office of Investigations in 1993.  Ms. Paxton was recruited by US Customs for her expertise in finance.  She worked white collar fraud, money laundering and narcotics cases.  She also was responsible for the district’s undercover operations and financial reporting of these operations. Kelly worked as a contract investigator doing over 1000 security background investigations for the Office of Personnel Management and Department of Homeland Security. Kelly has worked in the public and private sector. Her most recent position was an investigator at Nike. Her investigations include embezzlement, conflict of interest, intellectual property, Open Source Intelligence and fraud. Kelly is also the proud owner of pinkcollarcrime.com, a passion of hers about women embezzlers in the workplace. She tweets regularly at pdxcfe and has kellypaxton.com also.   The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construction_Contractor_Embezzlement_Detective_-_Kelly_Paxton_Par

This Podcast Is Episode Number 0276, And It Will Be About Interview With Brian Javeline Of MyOnlineToolBox.com Today's Article Is From Brian Javeline Of My Online Toolbox While the title of this story mentions website leads, planning also can incorporate many other forms of leads.  However, we decided to focus on website leads since so many contractors simply do not have a great online presence designed to capture more quality business opportunities. Go open your last version of your Marketing Plan.  You will then not believe how fast time flies by.  It will feel like just the other day where many of you were making all sorts of plans to change things, then time went by, then you got busy so the plans went in the to-do pile.   Unfortunately that implies that you are not doing anything specific to attract better customers. Many people have never had a Marketing Plan at all, which is even worse than not following through on your plans.  It is kind of like constantly building something without any measurements or schematics whatsoever. The most common situation we run into is hearing contractors updating their websites and making changes without any concrete planning.  Most companies rely on their website company for their marketing strategy which is a mistake, unless that website company clearly has a strong foothold in this particular industry.   Always remember, just because someone has mastered Google Docs or Microsoft Word doesn’t necessarily mean they know how to write a concise story.  It is the same thing with many website programmers who have first focused on websites and SEO without first having a strong background in marketing. Want better customers in the future? Then start planning for them today. It will take some time to methodically organize yourself to market correctly. That begins with a Marketing Plan or an update to your existing Marketing Plan. And many do not want to embrace this fact, but it will take months for these efforts to all come together after you are done. This includes making the correct updates to your website, Facebook and YouTube for Social Sharing, Google Reviews for consumer rankings, etc. So start today, then take a few months to organize yourself slowly, and then start to reap the rewards sometime in the next quarter with momentum picking up around two quarters out.  It is amazing how one’s business can change for life once you actually do something about it. Don’t use the excuse you are busy and waiting for things to slow down. Guess what? That is the same thing the majority of your peers are saying. Ever wonder what the top companies do differently than you to be overly successful? Much of it is not magic. Much of it is business practices and continuity with no excuses. I hear all the time “you do not know how lucky you are to get so many quality leads”. And I respond the same way, “No, luck has nothing to do with it.” It took planning, execution and persistence to build the momentum of image and results we produce. In fact, that is why I like to focus on the words More Quality Leads as opposed to just saying More Leads. I used to get too many leads that it was actually a distraction. Now our business has vastly reduced the time dealing with tire kickers which gives us more time to focus on good customers and quality leads. These quality leads turn into quality customers who in turn give us some quality referrals. And the merry-go-round spins. Sure, bad leads continue to come, but at a much slower pace and they are easy to let go. Perhaps you are doing well with your marketing and leads. That is great. Then at least make sure to not rest on your laurels and keep it up. But maybe you are wondering why are you so busy and not making as much profit as you thought. Or maybe you are getting leads and not closing as many as you thought. Or perhaps you really do not get as much referral business as you hoped for with your existing clients. You can change so much by identifying a problem and planning to change it. Remember that marketing is different than sales and should be treated as distinct topics.  Many contractors are so much better at sales since they are accustomed to bragging about what they do, and that is fine.  But many really have not positioned themselves to be clearly aware of how a consumer researches for their services.  And many more do not position themselves to differentiate from the competition. Consider taking a step back and creating a Marketing Plan that captures your specific services, your specific territory and positions you against your competition.  Many times you will discover weaknesses in your marketing that you were clearly unaware of.  Many times you will also discover strengths in your business that you are not properly using in your marketing.  And then you can make great implementation decisions when you see what your competitors are bad at as well as good at. A Marketing Plan is an absolute game changer when it comes to focusing on your objectives to Get More Quality Leads. And maybe a Marketing Plan is too much to take on right now.   Then at least consider learning the Basics of Marketing & Website SEO Strategies.  You would be amazed how better you can critique yourself, or perhaps work so much better with your existing website company simply because you embrace the topics better.  Most programmers do not have the time to explain to you what they do, and at the same time most owners do not really know what is going on with their sites.  It doesn’t have to just be a leap of faith when it comes to this critical part of your business. CONCLUSION: The future of having better customers is achievable if you have a road map to change the direction. Your planning to go into that direction should start today. I Highly Recommend all contractors spend some time on his website MyOnlineToolbox.com and get to know Brian. He is a valuable resource to all contractors, not just remodel contractors. Please be sure to let Brian know Randal DeHart, The Contractors Accountant, recommended you. About The Author: Brian Javeline is President & Co-founder of MyOnlineToolbox.com. MyOnlineToolbox is the #1 Online Marketing & Website Education Series – Just for Construction Contractors, Remodelers and Service Providers!   The company also specializes in Marketing Planning for a Website Strategy to dominate inbound lead generation efforts for a new or existing website.                                                The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Interview_Brian_Javeline_MyOnlineToolbox

This Podcast Is Episode Number 0275, And It Will Be About Construction Contractor Embezzlement Detective - Kelly Paxton Part 1 Of 2 Kelly Paxton specializes in finding and helping Construction Contractors, other businesses, and government agencies root out Pink-Collar Crime in their companies. The term Pink-Collar Crime was made popular Dr. Kathleen Daly in the 1980s to describe a type of embezzlement crime committed by female employees who may have limited opportunity. It is thought women in this situation may have a history of committing low level crimes such as check kiting and bookkeeping fraud. Part of the reasoning is women tend to be in less powerful positions compared to men who had a history of engaging white-collar crime. During our Podcast interview which you can listen to Part 1 by clicking the play button above I asked Kelly why she became interested in Pink Collar Crime. She replied "...When I started working at the Sheriff’s Office I became intimately involved in seeing the devastation caused by small business embezzlement. What I did not know was the perpetrator committing these crimes. When I was a federal agent most of my targets were typical White Collar Criminals—in other words men. Kelly goes on to say she was seeing women who had violated the trust of their employers. Out of all the cases she worked at the Sheriff’s Office there was only one male embezzler they came across. The rest were women, all kinds of women: old, young and middle aged. Some had gambling habits, some of them wanted to buy stuff they didn't need, with money they didn't have to impress people. They appeared to share two things in common— they had earned their supervisor's trust and they had the opportunity to embezzle. The following is a true story from Pink-Collar-Crime Wall of Shame: Stealing from nuns for lingerie and leasing a sports car An Orange County real estate consultant who stole $285,000 from Roman Catholic nuns and used it to buy lingerie and lease a sports car was convicted Tuesday of three counts of wire fraud. After a three-day trial, a federal jury in Santa Ana convicted Linda Rose Gagnon, also known as Linda Gualtieri-Gagnon, 59, of defrauding the U.S. Province of the Religious of Jesus and Mary. Asst. U.S. Atty. Robert Keenan said Gagnon told the nuns in 2008 that she was an expert in handling short-sale and foreclosure transactions and offered to help them buy a small home in San Diego they were renting for retired sisters in the religious order. But Gagnon did not use the order's funds to purchase the retirement home. Instead, she used it to buy lingerie, lease an Audi and pay off debts for her real estate finance company, Rose Enterprise, Inc. according to Keenan. After only 64 days, Gagnon spent the entire sum -- $285,000, he said. "She paid off $42,000 she borrowed. There was $448 at Chadwick's of London, an intimate apparel store in San Francisco. Then she went shopping at Nordstroms, visited the nail salon and of course a pet-sitting service.... She also leased an Audi TT sports car," Keenan said. "She was living nicely on the nuns' money." The nuns, after initially accepting Gagnon's explanations for delays in the home purchase, realized they had been defrauded when she did not respond to their messages. The order specializes in charitable and educational work. At one point, Gagnon told the nuns she needed another $285,000 to buy the San Diego residence, saying the original $285,000 was tied up in a “triple escrow” on another property. Throughout the trial, Gagnon's lawyer portrayed her as operating a bad business and accidentally comingling the funds. Gagnon did not testify, but two Catholic priests took the witness stand to attest to her character, Keenan said. They assured the court "she is really quite honest," he added. At sentencing next February, Gagnon could receive up to 20 years in prison for each of the three counts. Keenan said a more realistic sentence would be about four years total. Keenan said the nuns eventually had to come up with another $255,000 to buy the home, which is about three miles from the U.S.-Mexico border. Stay Tuned For Part 2 Podcast Interview With Kelly Paxton, CFE, PI Speaker And Fraud Consultant It Will Be Released The Week Following Part 1 Editor’s Note: I have only known Kelly Paxton a short time and I trust her and find she is very knowledgeable and capable on the subject of embezzlement and fraud. I Highly Recommend all contractors spend some time on her website Pink-Collar Crime and get to know her. Kelly is a valuable resource to all contractors. Please let her know Randal DeHart, The Contractors Accountant, recommended you. About The Author: Kelly Paxton has more than 13 years of law enforcement experience. Kelly is a Certified Fraud Examiner, Private Investigator and Social Media Intelligence Analyst. Ms. Paxton started her career in law enforcement as a Special Agent for US Customs Office of Investigations in 1993.  Ms. Paxton was recruited by US Customs for her expertise in finance.  She worked white collar fraud, money laundering and narcotics cases.  She also was responsible for the district’s undercover operations and financial reporting of these operations. Kelly worked as a contract investigator doing over 1000 security background investigations for the Office of Personnel Management and Department of Homeland Security. Kelly has worked in the public and private sector. Her most recent position was an investigator at Nike. Her investigations include embezzlement, conflict of interest, intellectual property, Open Source Intelligence and fraud. Kelly is also the proud owner of pinkcollarcrime.com, a passion of hers about women embezzlers in the workplace. She tweets regularly at pdxcfe and has kellypaxton.com also.   The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construction_Contractor_Embezzlement_Detective_-_Kelly_Paxton_Par

This Podcast Is Episode Number 0275, And It Will Be About Four Project Management Tips and Tricks for Construction Contractors  Today's Guest Article Is From Chanell Alexander  ---------------------------------------------------------------------------------- Capital projects bring a numerous amount of moving parts for construction contractors to regulate as project managers. Once someone scores the bid, the planning and strategy almost begin immediately. The leadership of the team, budget, design quality, and management of time rests on the head of the contractor. How can these professionals diminish the stress and stay on task? Read on for four project management tips and tricks for construction contractors. Make Planning a Daily Practice Contractors should always go into every project with a comprehensive construction plan that includes a strategy for budgets, hiring, and procurement for suppliers. Monitoring these developments should be a routine practice. Contractors should spend at least 10 to 20 minutes a day to assess how progress is being made regarding budgets, productivity, and deadlines. Plans should be revised and redeveloped as needed, and spending each day on planning allows contractors to immediately react to a scope or budget change before waiting too long to address potential problems before they spiral out of control. Install Mechanisms for Team Collaboration Communication is vital in any project, but even more so in a capital construction project. Safety, and staying in line with project scope depends on it. Since most of the work is done in the field, it may be difficult for workers to ask a question or for contractors to have the time to answer them. Using a team collaboration platform, like Workfront, can help contractors answer questions, spread news, and update the team on relevant information. Assign Tasks Digitally and Track Time Utilizing a project management system is going to make managing a capital project move a lot smoother. Asana is another excellent choice for a user-friendly project management app to assign and track progress. The app can allow contractors to multi-task, store important documents, reduce emails, and quickly check the development of the project. Asana also integrates with Harvest, a time tracking application that allows workers to track their time so managers can immediately send out invoices from the app. Managers can keep records of invoices and project scheduling using both applications together. There are also other project management tools available for contractors to find the system that best works for them. This project management TrustMap can help managers determine what tool is best for their use case. Use a System to Help with Inventory It is easy for managers to become overwhelmed when it comes to ordering supplies and managing inventory for capital projects. This is why it is crucial to have systems to allow project managers to estimate how many materials they will need depending on the project scope. Using an inventory management system can help reduce waste and over-ordering to decrease the cost of a product. The Wrap Up Managing a capital project can be a tough gig. Having to hire the right talent, maintain inventory, stay on-budget, and adhere to the needs of clients. However, project management tools and some savvy planning can help managers keep the train from going off of the rails. While project managers experience struggles regardless of the industry, construction contractors have unique obstacles that the right system and strategy can remove. About The Author: Chanell Alexander currently resides in Atlanta, GA. When she’s not traveling and trying new restaurants in the Metro Atlanta area, she writes about the latest technology and tools for TrustRadius. Sources: 12 Proven Time Management Tips for Construction Project Managers, www.clockshark.com/Blog/12-proven-time-management-tips-construction-project-managers/ Who Else Wants More Profitable Construction Projects?, www.clockshark.com/Blog/else-wants-profitable-construction-projects/   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Four_Project_Management_Tips_and_Tricks_for_Construction_Contract

This Podcast Is Episode Number 0273, And It Will Be About Home Pro Success Helps Contractors Generate High Quality Leads Home Pro Success And How They Help Contractors Generate Leads Leads, Leads, and more Leads! That is what contractors want! You post it on hundreds of forums, you talk about at the business network events with your friendly competitors. Facebook is one of the hottest places to generate leads for your construction contracting company. It works for Handyman, Trade Contractors, General Contractors, Remodel Contractors, and home builders. I had the pleasure to interview Corey Philip, founder of HomeProSuccess and he shared some tips and tricks to help contractor like you get more qualified leads. 1. Keep It Simple Because Simple Works. Corey is a huge fan of data, without over complicating it because too much data slows down the buying process. He would rather keep everything simple and consistent, and he applies that to everything in his business from operations to accounting, and marketing. 2. Nobody Wants To Hear From Salespeople. Nobody wakes up one morning as says “I want to be contacted by someone who will sell me something because I do not get enough opportunities to buy stuff I do not need, with money I do not have to impress people I do not like. Old school sales tactics do not work any longer and when someone is persuaded to sign up for something he or she is rarely ‘sold’ and tend to be the customers from deep in the center of the earth where it is said to be a dry heat. Corey prefers to educate you on his entire process and show you how Home Pro Success earns their reputation by letting customers choose them. 3. Knowing Your Cost Per Lead Is The Secret. Getting more bang for your buck by knowing where and how to advertise is the difference between poor contractors barely getting by and rich, wealthy contractors. You need a good solid Contractor Accounting System to know where your marketing dollars are most effective. Do you think you may be spending too much money on advertising, you’re not alone.  Most contractors and home service business owners waste hundreds or even thousands of dollars on marketing schemes designed by somebody pretending to be skilled. To develop a marketing system of your own that keeps your sales pipeline full, you need to know your cost per lead (per source). If you are spending 15% – 20% of their advertising you are spending too much! 4. Your Website Needs To Breathe. Are you reading about how much business you can get online by hiring ‘website guy’ and six months later the website hasn’t generated any new business? Did you think “this website idea is a joke, it doesn’t work” or “the design must be terrible.” I have a Newsflash it’s neither one. The design doesn’t matter as much as you think. Websites are a vital part of your Contractor home service business, but your website needs to breathe. When you look at some of the websites of home service companies like Handyman, Painters, Electricians, Remodel Contractors, and Landscapers you will see most of them are tombstones marking a place where a vibrant live website once lived and breathed. The sites are not updated. No fresh blog content, no recent pictures, no eye-catching videos, just dead boring copy. With billions of people on the internet, you can understand the importance of the contractor like you to have an effective web presence. CONCLUSION: Contractors and Home Service Business Owners, let’s talk about that elephant in the room. You know how difficult it is to run, and grow a contracting company where you send people to your customer's homes and businesses, in your company trucks, with your company name, to complete services. That's why Corey created this Facebook group. Exclusively For Contractors & Home Service Business Owners. To Join Click Here (It's 100% Free). Verified Owners Only.  The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Home_Pro_Success_Helps_Contractors_Generate_High_Quality_Leads

This Podcast Is Episode Number 02##, And It Will Be About ###   Today's Guest Article Is From Tom Jager, professional blogger  ---------------------------------------------------------------------------------- American science writer Robert Heinlein once said: “Progress is made by lazy men looking for easier ways to do things.” Do you agree? That’s okay if you don’t because laziness is a quality that is not commonly associated with success. However, working as little as possible is a strategy that many people embraced and ultimately reached new heights. For example, Dana Brownlee, the president of a corporate training company Professionalism Matters wrote on Entrepreneur that the “Lazy Entrepreneur” philosophy helped her to become incredibly successful and enhance her business in a unique way. So can laziness be good for business? What about contractors - can they be both lazy and successful? Undoubtedly, working as a contractor requires a lot of hard work and dedication to succeed, because the profession requires you to make most of the important decisions. Completing projects within deadlines, finding clients, negotiating prices, sending offers – all of this demands a lot of your time. But does that mean that you can’t enjoy occasional laziness? Of course not. Let’s see how you can be both lazy and successful as a contractor. Be Smart About Meetings For you as a contractor, meetings are important because you use them to get more clients. However, as important as they are, they can take a lot of time, and most of it can be dedicated to something different. On average, 25-50 percent of meeting time is wasted, according to MeetingKing. That’s why 47 percent of employees and managers consider too many meetings the biggest waste of time. To make sure that you’re not wasting time on meetings, use technology. It’ll help you to be more efficient and save a lot of time that you can spend doing what you want. Take Regular Breaks For some people (especially bosses!), taking regular breaks is perceived as destructive to effective and efficient work. That’s why most of employees spend the majority of their day at their desks, staring at computer screens. In addition to preventing some harm being done to your health, you should take regular breaks at your work to actually become more productive. Yes, you read it right: taking breaks and spending less time on working can turn you into a better worker. Think about it: have you ever faced a problem that you couldn’t resolve, decided to take a small break, and then the answer came to you suddenly? If you have, then you know that refreshing your brain helps to see a situation in a new way and come up with the right solution. Here are more benefits of taking regular breaks: They can prevent decision fatigue. Decision fatigue occurs when you have to make a lot of decisions and your willpower and reasoning ability wear down.   Breaks are important for physical and emotional health. It is a known fact that constant sitting, for example, at your office desk, increases your risk for obesity diabetes, heart disease, and depression. You know what they say, “sitting is a new smoking.”   Breaks increase creativity and productivity. Working for hours without taking breaks results in stress and exhaustion. On the other hand, taking some time for rest replenishes mental resources, refreshes the mind, and contributes to being more creative.   By taking breaks from work, you’ll expose yourself to fun side activities that may inspire you to do something and provide you with positive energy. Automate as Much as You Can Technology can be your best helper with tasks that you do every day. For example, if you work in social media promotion, there is a good chance that your clients require you to build their presence by posting information on a daily basis. This task can be easily automated using tools such as Buffer that allow to schedule and manage social media posts across multiple networks. As the result, you’ll maintain the same productivity but have more time for something else. Besides, it’ll allow to be more consistent and give an opportunity to complete projects for clients who live in other countries because time differences don’t matter with automation. Let go of the Urge to Work for Work’s Sake Many people work just because they think they should. They’re not okay with doing nothing because they think that only hard work delivers stellar results. While they’re certainly right that working hard is good, but what about working smart? One should not work because it just seems smart. Why? Because working more doesn’t necessarily means better results. A much better way is to focus on the things that provide the real value for you, your customers, and your career. CONCLUSION: As you can see, being a lazy contractor isn’t necessarily a bad thing. In fact, it can be quite beneficial for your career because it helps to focus on something that really matters. About The Author: Tom Jager is professional blogger. He works at Proessaywriting. He has degree in Law and English literature. Tom has written numerous articles/online journals. You can reach him at G+  or  Facebook. The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Can_You_Be_Both_a_Lazy_and_Successful_Contractor

This Podcast Is Episode Number 0271, And It Will Be About QuickBooks Training For Land Developers And Spec Builders Using QuickBooks For Your Land Acquisition, Land Development, And Spec Home Building Company Looks Simple - But It's Not! Many Land Developers and Spec Home Builders set up QuickBooks or hire someone to do it for them, and they do not understand the difference between Construction Accounting and Regular Accounting the results can be disastrous when you need Work-In-Progress, Job Costing, Estimates Vs. Actuals, Profit & Loss, and Balance Sheet Reports that accurately reflect the financial state of your Construction Company. The last thing you want to do in give your banker or investor a Profit & Loss Report showing your company is losing massive amounts of money simply because QuickBooks was set up wrong for your type of business. Knowing how to use Work-In-Progress, Direct and Indirect Construction Costs is key. Understanding Overhead, Other Expenses, and Other Income compounds are also important. Bankers, lenders, investors, construction company owners, and other stakeholders need accurate, timely reports. Proper QuickBooks set up, and Construction Accounting is the foundation to provide them. Here Are Some Things To Consider: You can use QuickBooks Desktop to track all the costs and generate Complex Payment Applications Item Estimates vs. Actuals, Job Profitability Summary, and Job Profitability Detail Reports to monitor progress, so the setup QuickBooks process is critical and needs to be done by a QuickBooks expert in construction accounting. Your QuickBooks needs a process to include the Key Performance Indicators For Contractor Success(KPI) to monitor the financial health of your construction company. Your QuickBooks will need to have between 1,000 to 2,500 accounts in the Chart of Accounts to track WIP costs during the construction process from beginning to end to get the QuickBooks reports you need. Your QuickBooks will need to have between 2,000 to 3,000 Cost Codes (QuickBooks Items) to track the detailed WIP Construction costs and facilitate the movement from WIP to Cost of Goods Sold when the project is complete and moved to company inventory or sold to an outside buyer. You will need accounts and cost codes (QuickBooks Items) to track retention. Save Time And Money By Taking On Demand Lorman Class With Randal DeHart, PMP, QPA Master Construction Accountant! Why Lorman?   In Addition To Lorman Online Training You Can Buy The QuickBooks Templates And Cost Codes We Use To Support Our Outsourced Land Developer and Spec Home Builder Clients   Click On The Image Below To Learn More    The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_How_U.S._Corporations_World_Banking_Influences_Construction_Indus

This Podcast Is Episode Number 0270, And It Will Be About Construction Contractors Need Help From Knowledgeable Advisors Everywhere there a Buzz Words and lots of people who say they are Experts in their field. Question is What the Expert knows is in a topic that is useful to you? Everyone wants to be paperless. It is not so much about saving a Tree as saving Time. How can I get to My Bookkeeper, My Accountant, My Tax Accountant the information they need to develop the reports? Most contractors tell me "Actually, I don’t want the reports I only want to know "scraps of information" so I can run My Business better. If there is an easy way to get the job done; I want to know it. There must be an App For That." There are several apps and we have one just for Construction Contractors. It does a lot but no app does everything. One of the first questions I am asked is do I have to keep my receipts? After all, I used my debit card, and it is all on the bank statement Bank Statements do not give all of the information needed to run your business. If you write a check, it will say When and How Much but not the “Who” and definitely not on WHY you wrote a check. Debit card transactions have Who, When and How Much; still no WHY. My answer is Yes – Please. Many suppliers will take a product back IF you have a receipt. A few with your credit card will be able to find your transaction and be able to credit the purchase back to the card. For everyone else; your receipt is the fastest way to document you actually made the purchase. Stores return policy is as generous as they can be. But not everyone can offer 100% refund for something that is obviously worn out, purchased from somewhere else or sometime long ago. We have all heard stories where dress clothes (with tags attached and hidden) are worn to a “fancy party” (New Year’s Eve’s) and next day returned to the store for a full refund. I don’t know of anyone personally who has done it but reading on the internet – many stores have changed return policies because of this type of customers (not clients). Kinda like being an “Unwelcome Pest” instead of a “Welcome Guest.” I was in a store who refused to accept a return from the customer in front of me. The clerk told the customer they had made Too Many Returns. We want to be the Welcomed Guest, be a good neighbor, friend, the benefit to our community as we provide “Goods and Services” to our friends and clients. Not everyone is a Good Client or Customer.   Tax Accountants are someone every Contractor should have. Why, when Turbo Tax can do it all? Turbo Tax is in simple terms an “AI” programmed to fill in the blanks based on the information you give it. So as an AI, the software might be smarter than you and I; but remember that “The Computer” does not win whenever playing against “Chess Masters” and a “Real Person” has done the programming. Here are the Should Have, Ought To Have, Maybe, Because [fill in the blank] with as many as you can think of and here are some more. You have already “Over Handled” your documents; especially if you are doing all of your own bookkeeping. I can’t afford to “Hire It Out” Sometimes your budget is “Toast!” Are you spending time doing the right things? The old saying “Sell Your Way Out Of A Problem” is true, but be sure you have done the right job for the right client, and the right price can only be answered when the accounting system has the proper information. The answer is a knowledgeable person between the keyboard and chair touching the keys. Hint - There is a difference between Void and Delete.   Quicken could work as an overgrown checkbook. What would it tell you? Wait, I took the easy step interview, synced to my bank; it has everything it needs!  Does It? or does it have everything YOU think it needs to be based on what you know? If you are the Smarted Person in the room – Fantastic. Excited to meet someone who has read and understood everything on the internet. All information is “Free, Perfect, Now!” Still doesn’t mean it is useful information to anyone and everyone who reads it versus just tons of general data. We each have different opinions on “What Is Important.”   Questions to ask your New or Existing Tax Accountant Explain the differences in Sole Proprietorship, Partnership, Limited Liability Company, S-Corporation. Now, What is the Difference when it comes to Taxes Hint – Self Employment Tax Some Respected Attorneys do not understand the differences between a Tax Point of View.   Should I have my spouse as part of the company? Paid or Unpaid?   Maybe I don’t need to add them if something happens to me [she|he] gets everything.   I want to hire other Family Members to work in my company. Should I have them as an employee, part of management or own a portion of the company?    I want my friends to be part of the company; we have a great time on Friday night. We all agree that they would be an asset. (Does the part “We All Agree” include your spouse? Occasionally Spouses find being supportive becomes a “Full Time” unpaid position.   Is there a tax benefit to hiring my Teenage or College Children Part-time? Your Tax Accountant’s role is to roll up your business life, personal life (including spouse, children, assets, home, retirement account, stock market accounts, odds and ends of side income) and file your business and personal income taxes. Some states do not have an Income Tax (Washington) but have numerous other taxes. Soda Tax, Sales tax, Vehicle tax, Property taxes that continue to increase and more. Have you ever played “Where’s Waldo” or walked through a “Corn Maze” to get in the spirit of Halloween? Being in business is challenging every day. There are no shortage demands on your time. Who is working for Who? What type of contractor do you want to be? General Contractor or Specialty Trade Contractor? Do you provide Design and Install or just Design or just Installation? Are you working directly with the Home Owner? Do you work as a Specialty Trade Contractor for a General Contractor? Are you being paid by the Owner or by the General Contractor”? Having employees can seem like You Are Working For Them Instead of Them Working For You (except you are paying in cash, loss of time, taxes, and other Cash and Non-Cash Benefits (which takes cash). Do you have W-2 employees? Are you paying them to watch you work (under the premise of teaching them)? Do you have Specialty Trade Contractors work for you?    Are they Bonded, Insured, carry their own Worker’s Comp policy?   Are you treating your employees as 1099 contractors so avoid collecting and paying taxes? Hint – Use a Labor Service or Payroll Service. State Labor Laws can be complicated   It's All About Getting Paid You Know How To Do The Work Are You Getting Paid For It?   Do you have a written contract or invoice that the Client signs? Do you set the payment schedule in your contracts? Do you receive Job Deposits on larger projects?   Is the payment schedule set by Others?   Have you given the owner of the property a “Notice To The Owner?” Followed by a “Notice Of Intent To Lien” if they decide you be doing “free work?” With a Specialty Contractor with a “Pay When Paid” clause? Are you working New Construction, Residential Remodels, Small Commercial Projects (TI’s)? They are each different. As a Construction Contractor, you understand the difference between the type of work you do. It is important to verify that your Tax Accountant has a clue about what you do. As a Construction Contractor, you have many expenses that an “Independent Traveling Sales Person” would not have. It is by exception that a Construction Contractor completes a project without having any Leftover Stuff. Outside Sales People tend to lease their vehicle and miles are usually freeway miles so taking a mileage deduction makes sense. The wear and tear on your vehicle are huge. Almost Always taking actual expenses is better. You haul stuff from the supplier to the job site. You create a mess in the process of remodeling a house. That mess needs to be recycled, reused or taken to the dump. Scraps of lumber, cardboard, packing are just more stuff that makes a tour of your truck, van or trailer. Even if you have an On-Site Dumpster – There is still “Stuff” to be dealt with. Hint - Hopefully you can return the “Extras” to the supplier. Many marketing firms will also offer to be your Business Coach. Again, this person needs to understand about your business. Numbers are great! Your Banker is your numbers best friend and understands the numbers on the Tax Return you receive from your Tax Accountant. Tax Accountant adds credibility that you did not do the job yourself. In other words, you are not making them up (or reducing them down). The same thing applies when Bank requests Homeowner to HIRE A LICENSED CONTRACTOR to do the project, and the Bank pay the Contractor direct. Why, because with a set of prints the Licensed Construction Contractor knows What To Do and How To Do It! Construction Contractors cringe when they see on the news any buildings that collapse when Building Codes with good workmanship it could be prevented. The first Question is: Has your Business Coach, Tax Accountant, or Banker ever worked with a Construction Contractor? If you are their First Construction Contractor Client; great as long as you know it! As a New, Seasoned, or Returning Contractor if you are being compared to that Espresso Stand down the street that is a big deal. Hint – You have Cost of Goods Sold (COGS) and by exception Inventory. We are currently offering Online Classes. More classes to follow. Visit FastEasyAccountingStore.com for our Online Products for our friends in the United States, Canada, and other International Locations. Looking forward to being of assistance. In the meantime; Read Our Blogs, Listen To Our Podcasts. Welcome Guest Posts. Participate in Joint Podcasts with other Service Providers featured on their sites. Download our Free Forms, Fill out a form telling us what 3rd Party Applications you use and how it is helpful. We want to pass on to other Construction Contractors helpful “Resources, Tips, and Tricks.” Enjoy your day. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business. Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Highly_Successful_Construction_Contractors_Have_Access_To_Skilled

This Podcast Is Episode Number 0269, And It Will Be About Facebook & Twitter Marketing - Sword for Small Contractors in Ranking Battle!   Today's Guest Article Is From Carol Writer Carol Is A Writer & Editor at Primetimeessay.com  ----------------------------------------------------------------------------------------------- It is incredible to see how the Social Media is affecting the organic rankings generated by search Engines. Social Media is accepted as one of the factors/parameters when considering ranking of the page. It allows small size companies to reach large target audience using Facebook Marketing and Twitter Marketing. Combine these giants with your excellent quality content, and you are ready to make a mark on your competitors. The reason I say Social Media can prove to a sword Companies is you can directly meet and interact with your target audience. It is always great if you have direct interaction with your audience as it would help you to convince them as they are your potential customers. Facebook Marketing is helpful, and it can prove the best option for a start-up to create a brand for itself. Everyone is aware how important it is that your brand gets recognized by your audience. Many companies tend to hire a Social Media Manager for creating an impression on the audience. As in the case of small companies they actually can start on their own as they have a little market presence. So the Risk factors involved in creating a Brand Name is very less as very few people know about them. Landing Page of Facebook can be a great way for introducing to the Online Marketing stage. Twitter has almost taken the online reach by storm from its introduction. Using Twitter Marketing efficient can help you to get the direct conversion from the audience to Customers. Twitter has a very active search, so you search for people with common interests. Facebook Page for a brand or Twitter account will fail to make an impact if it is not backed with killer content. Content plays a significant role in speaking about your brand and at the same time not sounding too promotional. The material on Social Media Junctions ideally should be to the point and should discuss topics more genuinely. For taking full advantage of social media scene, it is preferable that you hire a person or team which provide good Content Writing Services. These services are always valuable regarding money and time. Content is the heart of a venture regarding webpage, Facebook page or Twitter account. Another efficient way to get better reach and more traffic to your website are Article Submissions. These articles writing Services are typically provided by an agency that provides web Content writing services. Original Article always stands out and holds the key to giving an edge over other. Now as you to make an impact on Online Marketing area and achieve better Rankings. About The Author: Carol James is a writer & editor at Primetimeessay.com. She is an experienced and reliable academic writer with impeccable proficiencies in writing professionally sounding and acceptable academic works including articles, research papers, research proposals, literature reviews and other relevant academic papers. Carol graduated from the philological faculty with honors, professionally engaged in journalism, and writes articles on various topics. She studies business on specialized courses and successfully implements knowledge in projects. Link to my service is https://primetimeessay.com     The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                          

This Podcast Is Episode Number 0268, And It Will Be About Insight Into The World Of Practicing Project Management (PMP)   Today's Podcast Is Based Upon A Guest Article Is From Anna Marsh ----------------------------------------------------------------------------------------------- The history of mankind has accumulated an impressive list of successfully implemented complex projects. From the construction of the Pyramids in Giza to the dispatch of man to the moon, the most courageous human undertakings required the coordinated work of thousands of people. And this implies a complex project management system. And although only a few of us will face the challenges of this scale, most readers of this blog somehow encountered project management. According to PMI estimates, by 2020, 15 million new positions of project specialists will appear - and many other professionals often have to manage mini-projects, at least on a personal level. In simple words, Project Management is the management and organization of everything that is needed to achieve the goal - on time and within the budget, of course. Whether before the development of new software, the marketing company or the landing of a person on Mars - project management makes it possible to succeed. Why "project management"? The names of Neil Armstrong and Buzz Aldrin forever go down in history as symbols of one of the greatest achievements of mankind - the landing of man on the moon. However, the main contribution to this event was made by 400,000 NASA employees and 20,000 companies and universities working together on the Apollo mission. In 1961, John F. Kennedy set the task of landing a man on a satellite of the Earth and returning it back - despite the fact that at that time, NASA sent a man into space for only 15 minutes. Such an ambitious goal required an incredible amount of resources, cooperation, innovation and planning. Then it was important to speed up the implementation of each individual phase and make sure that the teams and companies working on each phase effectively interact with each other and deliver the results on time. This task was entrusted to Dr. George E. Muller, who ran every part of the Apollo project, from the White House to the supplier of the smallest detail. To control the project it was easier, he decided to break the project into 5 areas: Program Control System Engineering Testing Reliability and Quality Flight Operation Brief History of Project Management Project management was not invented by NASA and Dr. Müller. The Egyptian pyramids and the Great Wall of China are products of project management from prehistoric eras. Unfortunately, there is no documentary evidence of how the implementation and management of these projects took place, and the current project management is divorced from the knowledge of past centuries. The most obvious way to implement the project is to break it down into phases or individual tasks. As a culinary recipe - buy ingredients, mix them correctly, cook and serve. The simplest project management tool is a checklist of actions that must be taken to achieve the goal. Simple and effective. However, if you are a chef and prepare more than one dish, but several, for example a salad (which consists of 3 stages) and dessert (which you just need to serve), you will need a tool that allows you to track the time costs for each elements and the time when they should be ready. Basic terms of project management Agile: Flexible iterative-incremental approach to project and product management, focused on the dynamic formation of requirements and ensuring their implementation as a result of constant interaction within self-organizing working groups, consisting of specialists of various profiles. There are many methods based on the ideas of Agile, the most popular of which are Scrum and Kanban. Critical path: A continuous sequence of works and events from the initial to the final event, which requires the most time for its execution. Event chain of processes (EPC-diagram): a diagram showing the sequence of project activities based on the availability and utilization of resources. Time reserve: The time at which the start of work can be deferred without affecting the overall duration of the project. Thus, the reserves on the critical path will be zero. Milestone (milestone): A key event, indicating, for example, the end of a stage. In the Gantt diagram, the problem is denoted with zero duration. Project manager (project manager, project manager, PM): Project team leader, responsible for project management (planning, implementation and closure of the project). Resources: Elements required for the implementation of the project. Resources are time, equipment, materials, employees, and so on. Scope of the project: A description of the work that needs to be done to obtain the product. Sprint: Iteration (work cycle) in Scrum, lasting from a week to a month, during which a working version of the product or its element representing the value for the customer is created. "Classic" or "traditional" project management: The most common method of project management, based on the so-called "waterfall" (Waterfall) or cascade cycle, in which the task is transmitted sequentially through stages resembling a flow. Which is the best project management system Project management is a science, but science is not the most accurate. In this area there are no firm foundations and universal solutions. If you can find a method that is ideally suited to your project - consider that you are very fortunate, because less fortunate managers have to make efforts to create and customize their own project management systems. These systems can be composed of elements of existing systems or even created completely from scratch, as in the case of the Apollo mission. The main thing is to use something that will give you at least some structure and will not forget what is important for your project. About The Author: Anna Marsh is a philanthropist. She has the great love for humanity hence she keeps doing a good work. Apart from that, she also has interest about reading and writing. It led her become an academic writer eventually. She works with academic writers who are famous for providing essay writing service UK. Editor's Comments: Anna Marsh has provided excellent insights into the world of Project Management. Thank you, Anna The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Insight_Into_The_World_Of_Practicing_Project_Management_(PMP)

This Podcast Is Episode Number 0267, And It Will Be About Top 10 News 2018 Related To Construction Today's Guest Article Is From Carol James-Petrol, Manager Of Stancespice.com  ----------------------------------------------------------------------------------------------- Currently, in the United States is a large number of construction projects that strike not only their idea but also the estimated value. With the various megaprojects that are built or destroyed, it's difficult to track their development. Although all the construction projects are expected to fully open or reach significant milestones this year. Why is it important to consider the largest construction work? There are two main reasons. The initial one is in the fact that such projects https://stancespice.com/  can affect the total volume of the dollar. That is, the time and size of these projects have an exaggerated effect on market forecasts and this is a huge number of new jobs. It's clear that 2018 is a great year for large construction projects. Here are a few highlights of the major construction projects USA that occur in 2018. 1. San Francisco: Salesforce Tower One of the tallest buildings in the United States is to be opened. The opening will be in early 2018 and the 61-story Salesforce Tower, which is located in the financial district of San Francisco will become one of the 10 tallest buildings in the US. Moreover, it is one of the highest streets of New York or Chicago. 2. Manhattan: Hudson Yards Manhattan will see a large-scale construction project on the west side, as new stages of the extensive Hudson Yards project go online. This year, much attention has to be paid to residential and retail sales. Despite the fact that it was opened in 2016, its addition is expected. The 895-foot-high office tower is in the constant development of the Hudson Yards, Manhattan. It is expected that this of 28 acres will turn into a multifunctional development with 16 skyscrapers. It is planned that the largest private property in the history of the country will include more than 18 million square feet of commercial and residential space. It must contain more than 100 shops, 14 acres of public space and even a comprehensive school. It is scheduled to finish this construction for the year 2024. 3. New York: A new bridge over the Hudson This project is one of the largest in the field of US infrastructure. The replacement of the old bridge has an estimated value of 4 billion dollars. This project began in 2013, in 2017 there were 8 spans of bilateral traffic. This summer the project should be completed. The bridge has to contain 8 spans, 4 lanes of breakdown in the same emergency lanes, a bus stop, a bicycle path and a footpath with observation platforms. 4. Southern California: California High Speed Rail This project is considered one of the most expensive one in the USA. The declared value of the California high-speed railway is 64 billion US dollars, it must take two hours and forty minutes to transport passengers from San Francisco to Los Angeles. This Construction is divided into segments, and the contracts are individually awarded to the winners of the auctions in stages. Construction began in 2015 and should be completed by 2029. Construction began in 2015. It is expected that in 2025 the first phase has to be completed and passengers will be able to move, in 2029 the following shares will be opened. 5. San Francisco: Central Subway The project of the Central Metro will expand the third line of the Subway Munti through SoMa, Union Square and Chinаtown, passing through the metro and avoiding intensive traffic through the streets. The project is currently in the center, the completion of the project is planned by 2019, four new stations will appear with a fresh rail. The new line will be 1.7-mile. 6. California: Los Angeles Stadium and Entertainment District, Inglewood Current work is in progress at the stadium and entertainment area of Los Angeles in Hollywood Park. The stadium has to accommodate up to 100,000 seats and must open in 2020. It is expected that in 2028 there will be an Olympics. It will also include 6,000 executive venues, shopping venues, offices, a hotel, 25 acres of public spaces and parks. 7. Detroit: Two Detroit-Ontario bridges The creation of a new international bridge is planned in the second half of 2018. The bridge of Gordie Howe has to connect Detroit and Windsor. The cost of construction is estimated at $ 2.1 billion. Canada, like Michigan, should allocate $ 550 million for the construction of a second bridge between Detroit and Windsor. These funds are planned to be returned, charging a fare through the bridge. Preparations for a total cost of $ 350 million have already been carried out in the United States and Canada. All permits and licenses have been received, the demolition of almost 200 buildings in the US has been completed. 8.Seattle: Alaskan Way Viaduct Replacement In 2017, the tunnel was completed under the center of Seattle for a length of 1.7 miles. In the year 2018, there is work on the creation of a two-story road in order to replace the aging Alaska Way Viaduct in Alaska, which was planned for demolition. In 2019, the opening is expected, the estimated cost is 3.1 billion dollars. 9. Detroit: Hudson’s Development The complete renovation of the JL Hudson website is expected in the center of Detroit. The project belongs to Dan Gilbert, and the estimated cost of the project is about $ 1 billion for the complete equipment. A special feature of the project is a tower 800 feet high, where an observation deck will be located. This tower will undoubtedly become the tallest building in the city with the opportunity to see the panorama of the city. 10. San Francisco: The Grand Central Station of the West It is expected that this year will open a new Salesforce Transportation Center in San Francisco. This center contains not only the bus or railway station but also the central element of the city. It will have a 5.4-acre park which is located on the roof of the station. Undoubtedly it will become the heart of the city. Ultimately, the Salesforce Transit Center can truly become the hub of all transportation agencies in the region, with more than 100,000 passengers on weekdays. About The Author: Carol James-Petrol, manager of Stancespice.com Carol  works as a manager for a famous car company. He's interested in enhancement of the auto specifications with the help of car parts made on individualized orders. С. James - Petrol considers solving technical problems the main priority.           About The Author:       Editor's Comments: The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. About The Author:           Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Top_10_News_2018_Related_to_Construction

This Podcast Is Episode Number 0266, And It Will Be About Seven Deadly Construction Accounting Mistakes "Early To Bed, Early To Rise, Know Your Numbers And Advertise" Unfortunately, with everything contractors like you need to do every day including weekend and holidays it’s too easy to let crisp, timely Financial Reports go unread and in some cases, you may not fully understand what they are telling you when you do read them. #1 Not Tracking Direct Construction Costs For Each Job Or Project If you want to know where you are making and losing money you need to implement a system of Job Costing. These Reports Can only be found in the Premier Contractors and Accountants editions of QuickBooks. Some of them are also available in the Professional Services edition.   We offer Job Costing Report Service click here to learn more  #2 Not Allocating Overhead To Jobs In order for your Job Costing and Job Profitability Reports to be useful you need a way to allocate overhead among jobs. Overhead generally refers to costs that benefit all jobs. For Example: Office And Shop Rent Office Supplies Admin Staff Salary Officer Owner Salary Marketing And Advertising Consulting, Legal, And Accounting Other Overhead Costs Successful Construction Companies have a system to allocate a percentage of overhead among jobs based on field labor or field labor hours. The problem here is overhead costs may be over or under allocated which creates a distorted picture of job profitability. For example, if your projects are material and other costs intensive, rather than labor intensive, you may consider allocating overhead based on one of those costs or perhaps some blend of direct job costs. The key is to develop a method for allocating overhead costs to the jobs that drive them. #3 Change Orders Change orders can be a great source of additional cash flow and profits as well as pitfalls and money drain and lost profit opportunities for contractors. Let me share a true story. Home Improvement Contractor, Virginia USA He called Sharie, our Client Care Coordinator and his first words after hello were: "I found your how-to video about change orders and really like how you have it set up and appreciate the pointers you had to offer." He was sick and tired of customers constantly changing stuff on him and creating delays or extra work. He needed to be compensated for his time and his crew time but wanted to make sure he was doing it the right way. Click Here For Construction Change Order Video This video shows you step by step the Fast Easy Accounting way to work with your Free Construction Change Order Form. We certainly hope this will help you increase construction sales and bottom line profit by getting paid for all the extra work you are doing. Contractors Are Our Heros so we want to help you achieve your definition of success! During a short phone interview with me, he shared his story of how this change order template helped him sell new work and get a check today! He must have read our article on Contractors Are Not Bankers! Recap: He found the same thing most contractors have learned about how “Change Orders” become favors! Why, because by the end of the job he had forgotten all of the things he did that were not part of the original Scope of Work. Since he wasn’t clear with the customer about paying for those "Minor Changes" they ended up costing him time, money and profit. He said after watching the video he downloaded the FREE Change Order Template Click Here for a Free copy of it. Since it is built on Excel he said it was easy to insert his company letterhead, customize it with a few additional lines for description and save it to his desktop. He Printed Some Copies And Put Then In The Job Folder Today his customer asked about some changes that she was thinking about doing in the future. They discussed it and between them, and they decided that it the most economical to do the additional changes. Remembering the “Brand New Change Order Form” in his Job Folder he filled one out, explained the additional time and material involved to make the change…the customer agreed it was quite a lot to make the changes she wanted; however, she wanted it done so she happily went and got her checkbook and wrote a check for the change order. This customer is truly one of his Top 20% that he needs to stay in contact with and become her only contractor. Hopefully, she will refer him to service for everything she needs to maintain her home. Have Your Customers Started A Conversation With: While you are here anyway... That Should Be Included... Since It's Open Anyway... You Get It Wholesale... It's A Small Change... While We're At It... It's Easy For You... I Have An Idea... I Need A Favor... If you answered yes here is the good news. People love to buy things and all you have to do is be easy to do business with. One of the best ways to keep your attitude positive is knowing and applying the 80-20 Rule For Contractors. This one tip alone can help keep more cash flowing into your company. The 80 20 Rule For Contractor Success At The Money Game #4 Job Costs Not Included In Financial Statement Most Construction Companies track costs using Accrual Basis of accounting and pay tax on Cash Basis. This means recording revenues when earned and expenses when incurred. Some Job Costing errors occur when Direct or Indirect Job Costs are not included in the financial statements. The reason is simple, bills from suppliers and vendors aren’t received until after the period is closed and financials have been issued. One way around this is implementing a voucher system or some other mechanism to ensure costs are recorded as liabilities or accrued costs in the period in which they’re incurred. This makes sense if your construction company annual sales are over $5,000,000. #5 Job Estimates Are Not Accurate Contractors with annual sales under $10,000,000 typically use "Completed Contract" method for financial reports. Contractors with annual sales over $10,000,000 may have to use "Percentage of Completion" method for financial reports.  Errors can be traced back to: Poor estimating or forecasting Inaccurate recording of actual costs Mishandling of change order accounting Editor Note: After many decades of working with contractors and Construction Accounting I can say with 100% conviction contractors with annual sales under $1,000,000 are in a sweet spot and can easily generate an annual take-home income of 10% to 20% of annual sales without all of the massive headaches of running a big contracting firm. #6 Recognizing Loss In The Wrong Period Construction companies that use the Percentage Of Completion method sometimes misjudge whether or not a job is likely to be completed at a loss. Generally Accepted Accounting Principles require them to fully recognize the loss at the time it’s determined. Regular review of each project’s job cost schedule. In the event, estimated costs exceed the contract amount, be prepared to accrue a loss. #7 Joint Ventures A Partnership Is The Only Ship Designed To Sink"-Randalism Joint ventures are a bit like change orders. They can be an incredible opportunity to make or lose a lot of money very quickly. Almost as quick as betting money on a roulette wheel in a casino. Joint Ventures have their own accounting rules. The devil is in the details because how costs and profits are shared among the participants depends on how the joint venture is structured and the terms of the agreement. Avoid errors, leave nothing to chance. Be sure you and the other party agree on how the income and expenses will be dealt with in your accounting systems before you start work. Implement processes and procedures to ensure the venture’s activities are properly documented. Editor Note: Contractors with annual sales less than $10,000,000 often get together to work on a specific project. For example, a concrete contractor may have a large project that requires more finishers than they have on staff. They find a friendly competitor to supply labor and equipment for a percentage of the job, hourly fee or a flat number.  This could technically be a "Joint Venture"; however, the time and scope are normally short and sweet.  "Early To Bed, Early To Rise, Know Your Numbers And Advertise" - Randalism Construction is notoriously known as a thin profit margin high-risk business. Proper planning and Strategic Bookkeeping can reduce your risk and substantially increase your chances of success. Accurate financial reporting is important the profit and growth of your Contracting Company and enjoying favorable relationships with sureties, lenders and other stakeholders. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+      Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Seven_Deadly_Construction_Accounting_Mistakes

This Podcast Is Episode Number 0265, And It Will Be About Generating High Quality Lead Generation For Your Contracting Company ----------------------------------------------------------- Today's Podcast Is Based On A Guest Article Is From John Leutermann Founder Big Rock Online Marketing Are you a contractor looking to generate new business leads? You may have already invested in a quality website, but are still failing to see it generate the results you expected. Or maybe you have yet to delve into any marketing at all. In this Podcast Randal interviews John Leutermann, a digital marketing expert who specializes in growing contracting businesses online. Randal and John discuss the important questions you may have when considering investing in internet marketing services.  John has been doing digital marketing for over 10 years. He previously worked for an advertising agency for over five years. At the agency, he managed the websites, SEO, and digital marketing for over 60 local contractors. John currently works at Weather Tight Corporation in Milwaukee, WI as the Web Marketing Manager, a position he has held for over eight years. Weather Tight is Wisconsin’s largest privately owned remodeler specializing in Windows, doors, roofing, siding & gutter protection. John manages all aspects of digital marketing and advertising for Weather Tight. John is also the owner of Big Rock Marketing, a digital agency specializing in helping small and medium businesses grow their businesses online. His agency handles web design, SEO, email marketing, digital advertising, and review management for their clients. What is the main problem internet marketing can solve for your contracting business? As mentioned earlier, creating a visually appealing website is important. However, this simply isn’t enough to consistently bring in new business leads. This is where SEO and internet marketing come into play. These strategies are effective in increasing your digital footprint online, slowly building your online presence, and driving business to your website. How does John differentiate from other digital marketing experts? The most important thing John takes pride in is the level of personal service he provides to clients. Because his agency is smaller in size, he is the main point of contact for his clients. This means he is able to explain the details of the work being done on your account. Larger agencies typically aren’t able to do this, as they usually have an employee whose role is solely communicating with clients about their account. John uses your budget to market your business. How can a contractor determine whether they will be a good fit for pursuing internet marketing? John has 3 questions a contractor should ask themselves to gauge whether they will be a good fit for internet marketing services: 1. Is the client committed to providing resources and budget to online marketing? It is important for a contractor to be committed to internet marketing. If the client is perceiving internet marketing as an expense, it likely is not a good fit for moving forward. Internet marketing, especially SEO services, take about 6 months to start seeing results. After about 12-18 months, the brunt of the leads will start to come through. 2. Is the client prepared to handle more leads while still providing the same level of customer service? The main goal of internet marketing is to help you generate more leads for your business. It’s important for contractors to know they can keep up with more customers seeking their services. The last thing you want is to increase your leads, but then lose business due to poor customer service. 3. What budget is the client able to commit towards internet marketing? This number will depend on the location of your business, as well as the level of competitiveness of your industry. John can help you determine the best option. However, you should have an idea of what you are able to afford to invest toward internet marketing. CONCLUSION: If you are ready to invest in internet marketing or would like a free website audit, visit https://www.bigrockonline.com. You can also call John 414-305-4801. John Leutermann (Big Rock Online) About The Author: I have been doing digital marketing for over 10 years.  I previously worked for an advertising agency for over five years.  At the agency, I managed website creation, SEO, and digital marketing for over 60 local contractors.  I currently work at Weather Tight Corporation in Milwaukee, WI as the Web Marketing Manager, a position I have held for over eight years.  Weather Tight is Wisconsin’s largest privately owned remodeler specializing in Windows, doors, roofing, siding & gutter protection.  I manage all aspects of digital marketing and advertising for Weather Tight.  I am also the owner of Big Rock Marketing, a digital agency specializing in helping small and medium businesses grow their businesses online.  My agency handles web design, SEO, email marketing, digital advertising, and review management for their clients. Editor’s Note: I have only known John Leutermann a short time and I trust him and find him to be very knowledgeable and capable on the subject operating and growing remodeling companies. I Highly Recommend all contractors spend some time on his/her website and get to know him/her. He/she is a valuable resource to all contractors, not just remodel contractors. Please be sure to let him/her know Randal DeHart, The Contractors Accountant, recommended you. The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_High_Quality_Lead_Generation_Tips_For_Your_Contracting_Company

This Podcast Is Episode Number 0264, And It Will Be About How To Manage Your Money Effectively As A Construction Contractor Today's Guest Article Is From Damien Troy  --------------------------------------------------------------------------------------------- If you’re unsure how to manage your money effectively as a construction contractor, then look no further than this article. There are a number of easy ways you can manage your money effectively, including working alongside an architect who produces cost-effective designs, to investing in high-quality tools from day one. Whilst short term loans such as those available at Wizzcash.com are available if you find yourself in a personal financial emergency, managing your money effectively as a construction contractor is paramount to make a decent profit. You can find out exactly how below! Design Effectively Even though managing your money effectively as a construction contractor can be difficult, it’s not entirely impossible. The first step to managing your money effectively is to source an architect who designs cost-effectively. This is because changes made during the design process often cost less to implement than those made mid-construction. Regardless, doing this ahead of time will help cut costs. It’s no hidden secret that saving on small costs from time to time will make a difference in the long run, so why pay more than you should? Instead of opting for the first solution you come across, take the time to shop around for the best places to purchase your materials and equipment. Even though you may have solid relationships with various contractors and suppliers alike, it’s far smarter to compare prices and start new relationships that simply sticking with what you have. Invest In Quality Tools Upfront The next step to manage your money effectively as a construction contractor is to invest in quality tool upfront instead of opting for those with a cheaper price tag in order to save money. Not only can cheaply-made tools waste money, but they can waste invaluable time too, which can put your business at risk. However, by putting your money towards something that will last longer than purchasing the same poor-quality tools repeatedly you can rest assured that your tools will not let you down. Invest In Technology Investing in technology is just as important as investing in quality tools upfront. From the small technology investments such as implementing an electronic payment system to the large like Viewpoint Enterprise Cloud software, advanced technology investments can help you save in the long run, and ensure accuracy. Reduced Wasted Materials Whilst all these points are important to manage your money effectively as a construction contractor, ordering the right amount of materials at the right time is key to saving money. By reducing wasted materials, you will not only eliminate material loss, but you will also reduce labour waste by ensuring subcontractors are scheduled at the relevant time. At the same time this will help avoid paying employees standing around for no real reason. By staying on top of your expenses, you can rest assured that you won’t be faced with any surprises, and knowing where your expenses stand from day one will significantly help you keep track of your funds. From investing in technology and quality tools upfront to taking the time to shop around and not pick the first offer you come across, you will not only be able to save money, but you will be able to plan ahead for the future too. About The Author: Damien Troy is an experienced and notable author, who loves taking on new challenges and writing across a huge range of topics -channeling his personal experience and expertise. When Troy isn’t tapping away at his keyboard, creating his latest masterpiece, he can be found exploring new countries and cultures or burying his head in a good book. The Information Shown Below Is From Fast Easy Accounting Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android:   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_How_To_Manage_Your_Money_Effectively_As_A_Construction_Contractor

This Podcast Is Episode Number 0263, And It Will Be About 0263: Learn Construction Accounting Basics From The Contractors Accountant, Randal DeHart Are You A Handyman Contractor Struggling With Accounting? Would You Like Learn Construction Accounting Basics From The Contractors Accountant At A Fraction Of The Cost? Click Here To Sign Up Now! Use Coupon Code DEHART15 Valid Until 04-06-18   MASTER ACCOUNTING BASICS: CONTRACTOR EDITION Course runs from April 23, 2018, to June 1, 2018. Master Accounting Basics: Contractor Edition will teach you important accounting principles including the 3 “O’s” of the balance sheet, the 5 secrets to make your handyman business more successful, tips for how to handle invoices, and so much more. Join financial and QuickBooks expert Randal DeHart and learn how to determine your business’ financial success and how to grow your income.         Now you can unlock the door to developing a highly profitable contracting business with the Five Key Performance Indicators you’ll learn in this premium course:  Statement of cash flows Accounts receivable Accounts payable The balance sheet Profit and loss statement Think of the Five Key Performance Indicators Like Your Truck Dashboard In the Master Accounting Basics: Contractor Edition premium online course, Randal DeHart, leading expert in construction bookkeeping, teaches vital how-to information. You’ll learn the tips and tricks of the experts as he walks you step-by-step through reading and interpreting balance sheets, cash flow statements, and profit and loss statements. Randal will also guide you through setting up your own reports in QuickBooks. By the end of the 5 weeks you’ll have the skills to determine your company’s financial health, poses the knowledge to help your business grow, and be better prepared for future tax seasons. Here's what you'll learn: How to setup your financial statements in QuickBooks. How to interpret and develop key reports including cashflow, accounts receivable, accounts payable, balance sheets, and P&L statements. How to develop profit centers in your supplier accounts and credits cards. The Five Key Performance Indicators you need to know, care about, and how to use them. How to use accounting to make more profitable decisions for your jobs and your team. And much more! Here’s what you’ll get: Individual attention from financial expert Randal DeHart to answer your specific questions. Personal advice on using QuickBooks sheets for your business. Bonus content and guidance added during the course catered to students’ questions. Unlimited private message access to expert Randal DeHart.  Discussion board participation with fellow students and your instructor. **The recommended software for this course is QuickBooks. However, this course builds solid foundations for accounting best practices that can be applied to any accounting software. I look forward to meeting you in the class and rest assured we will have a lot of fun and pull back the curtain of mystery surrounding the basics of Construction Accounting. This class is designed for small contracting companies with 1-20 employees including Handyman, General Contractors, and Trade Contractors. You will gain a basic understanding of Construction Accounting from someone who has deep experience in Construction and Construction Accounting without all of pomp and circumstance of a boring formal presentation. See Construction Definitions and Randalisms for a taste of my teaching style. Please Note: We will not be covering Work-In-Progress, Spec Home Building, Commercial Construction, or in-depth Job Costing. Those areas may be covered in future classes if we get enough interest. Click Here To Sign Up Now! Use Coupon Code DEHART15 Valid Until 04-06-18 In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+      Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Learning_Construction_Accounting_Basics_From_The_Contractors_Acco

This Podcast Is Episode Number 0262, And It Will Be About Wealthy Contractor's Selling Secrets I was raised in a great environment. My parents were wonderful people who always did their best and could always be counted on to provide food, clothing, shelter, and opportunity to attend school where I earned my High School Diploma. After that, I attended several Colleges and Universities to further my education.  The point of this article is for contractors who are having any financial struggles is to provide you with the time-tested and proven answer to more cash flow and profits as soon as possible! I was raised in a great environment. My parents were wonderful people who always did their best and could always be counted on to provide food, clothing, shelter, and opportunity to attend school where I earned my High School Diploma. After that, I attended several Colleges and Universities to further my education.  The Simple Answer Is Sell Your way Out! When I was growing up there wasn't money for allowance so I developed my own. I tried many things and discovered nobody would hire an eight-year-old kid part-time after school. So I started acquiring things I could sell door-to-door in our neighborhood. Retailing Pecans $0.35 A Pound Door-To-Door - I purchased brown paper lunch bags from the supermarket. Then I Gathered up pecans that fell on the ground under the tree in our yard, put them in a brown paper bag on the bathroom scale and increased pecans until it equaled one pound, rolled up the top of the bag and repeated the process until I had ten pounds. Then I walked door-to-door in our neighborhood selling them, and I did not stop until I had sold them all. Selling Puzzles Door-To-Door - Our next door neighbor, an industrial parts salesman, had access to small puzzles. I purchased them for $0.05 each and sold them door-to-door for $0.10 each. Every weekday after school I would sell all ten before arriving back home. Selling Pencils Door-To-Door - I purchased 20 pencils from the local office supply store $.0025, two for a nickel. I sold them door-to-door in our neighborhood for $.05 each and I did not stop until I had sold them all. I always had money for comic books, toys, milkshakes, birthday presents, Christmas presents and even opened a savings account. Those life lessons served me well into adult life as a contractor, business owner, entrepreneur and real estate investor. How Does This Help You? It All Comes Down To Cause And Effect – You will accomplish what you anticipate. For many years people believed the world is flat and some people still believe it. For many years people believed it was unimaginable for a human to run a mile under four minutes. That is until May 06, 1954 when Roger Banister did it. Condition Yourself For Success! Be-Do-Have - Be The Person, Do The Work, Have The Results. In life contractors generate reasons or results and, reasons don’t count. The Secret Is In Thinking Patterns And Habits Success is a few simple disciplines practiced everyday Failure is a few errors in judgment repeated everyday Over the years I have accomplished great things and generated some spectacular malfunctions in construction. Success lands whenever I have procured mentors that are already at where I am headed. Failure always comes from engaging people who cannot produce results but think they can. Though the dogs (negative people) may bark, the caravan (long line of successful contractors) moves on. - Randalism Choose wisely the six people you invest the most of your time with as The Leveling Process Operates 24/7/365 Leveling Is Key To Your Success As A Contractor Birds And People - Flock together with others like themselves because it is comfortable. It only makes sense to soar with eagles rather than keeping your head down pecking at the ground with the chickens. Your Income - Is typically within 20% of the average of the six people you spend the most time with.  Leveling Down - If you spend most of your time at the “Contractors Business Round Table”, this is a little round table in a tavern with a pitcher of beer and several contractors all earning $40,000 a year or less telling each other how to run their businesses then your income will hover between $32,000 and $48,000 (20% plus or minus $40,000). Leveling Up - As you develop your Business Strategy for your construction company your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different. The Simplest Way To Level Up - is read about successful people. Watch movies about successful people. Surround yourself with successful people and understand "You Alone Stand Guard At The Portals Of Your Mind" - Randalism The Salesman's Prayer By Og Mandino This bit of text one of my mantras. It's extremely powerful and if you interpret it carefully you will discover the hidden meaning. "Oh creator of all things, help me. For this day I go out into the world naked and alone, and without your hand to guide me I will wander far from the path which leads me to success and happiness. I ask not for gold or garments or even opportunities equal to my ability; instead, guide me so that I may acquire ability equal to my opportunities. You have taught the lion and the eagle how to hunt and prosper with teeth and claw. Teach me how to hunt with words and prosper with love so that I may be a lion among men and an eagle in the market place. Help me to remain humble through obstacles and failures; yet hide not from mine eyes the prize that will come with victory. Assign me task to which others have failed; yet guide me to pluck the seeds of success from their failures. Confront me with fears that will temper my spirit; yet endow me with courage to laugh at my misgivings. Spare me sufficient days to reach my goals; yet help me live this day as if it were my last. Bathe me in good habits that the bad ones may drown; yet grant me compassion for the weaknesses in others. Suffer me to know that all things shall pass; yet help me to count my blessings of today. Expose me to hate so it be not a stranger; yet fill my cup with love to turn strangers into friends. But all these things be only if thy will. I am a small and lonely grape clutching the vine yet thou hast made me different from all others. Verily, there must be a special place for me. Guide me. Help me. Show me the way Lord. Let me become all you planned for me when my seed was planted and selected by you to sprout in the vineyard of the world. Help this humble salesman…..Guide me, God." From: The Greatest Salesman in the World by Og Mandino Get everything Og Mandino has ever written, interpret it, study it, appreciate it, apply it. You will be rewarded! In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+      Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Would_You_Like_To_Know_Wealthy_Contractor's_Selling_Secrets

This Podcast Is Episode Number 0261, And It Will Be About Top 7 Reasons To Accept Credit Cards In Your Construction Company Today's Podcast Is Based On A Guest Article Is From Paige Martin Payment difficulties in the construction industry are not a new occurrence. With the financial issues that have arisen in the construction industry, there is definitely the potential for all construction companies to move forward with efficiency and productivity in planning business needs like invoicing, payment receipt and more. While the old school paper systems that are withheld in the office can get the basic information to and from the customers, there comes the question of payment due dates and ensuring that customers pay bills on time. Especially for small projects that are most likely due on completion, there is the current availability of digital credit card payment processing, in order to progress further into the go-green movement. Considering the increased technical support and assistance that is now often needed with the accounting department of most any company, there is much to be seen for the credit card payment to be added to the construction industry. Here are some of the reasons to offer credit card payment processing in your construction business: 1. Fast and efficient payments Payment delays and losses persist in the construction industry and continue to be a key concern to industry practitioners. Overall there is the speedy and efficient process of credit card payment receipt. Considering the fact that credit card payments can be called in, made online to your company website, through a mobile app, on-site card reader or more, there is much to be said for the efficiency of these payments. 2. More immediate completion of digital bill payment, payments made and deposited by due dates. Big project construction customers have the attitude of “Cannot” and “wouldn’t “ when it comes to paying their occurring construction bills. Since they are busy on-site, they usually reason out that if the construction business “cannot” provide a more conducive means of paying the occurring bills, with no penalties considering the due dates, they “wouldn’t” proceed with the deal. Now, that’s the point why construction businesses should start considering the digital credit card payments usually offered by some credit card processing platform Once payments are received from customers, there is much more immediate processing and lack of wait times on the deposit of large checks will not be an issue anymore. There is much to be said for the ability to receive a large payment in full by credit card, rather than having to place a long deposit hold on a check payment from a customer. With these digital payments processed immediately and efficiently, there is less stress or return of attention to past payments on members of the construction company accounting team. 3. Avoidance of fraudulent payments, bad checks. The construction industry has no obstacles to entry of various customers and is well-known for low capital backing, but relies heavily on cash flows to withstand its operations.  Considering this factor, construction businesses under big deals need to wait for checks to complete payments from the client and there was always the potential for a bad check to come in, causing a return fee on both you and the customer and adding more work in attempts to receive a good payment. With the immediate collection of a credit card payment, there is a one-step process, a sort of one-and-done closure of the final financial need of a project. 4. Efficient work procedures for the construction’s accounting department. With all of the reduction of time needed for payment processing directly by the client or between the client and project manager, there is much to be said for the improved work processes for the accounting department. Relieving the manual account management of some of those individual payments helps to improve their focus on the company’s financial needs and improvement. 5. Lack of late payments means no collections. Have you ever tried hiring a collection agent to call your clients regarding their delayed payments? With the ability to reduce the amount of late payments coming in from customers, or the lack of need to chase down late payments, there are minimal collections work from within the office and lack of need to outsource collections work. That is a financial savings for the construction company, as well as a great time savings and organizational improvement. Since as mentioned above that cash flow is critical for construction businesses, every financial in-flow is important. 6. Online, mobile and other payment options added. With the improved business efficiency that can be gained with the creation of your construction website, and connection to a mobile payment app, there is the added connection to the customer ability to pay invoices as soon as they are received. That is what the app modernization in the 20th century brings. Customers would have the ability to log into their accounts on your site and access their billing and payment history and help make sure everything is up-to-date. You just need to make sure that you have the essentials on your website to avoid financial transaction issues in the future. 7. On-site payments with card readers With the connection of your own company card, especially for the improvement of your own bill payment and financial needs, there is often access to a remote card reader that can be taken on-site with project managers. Therefore, all projects are available to receive credit card payments, making the communication between the project and accounting departments much more automated and efficient that traditional invoicing and payment receipt. Construction businesses should always offer traditional on-site payments assuming that not all clients are able to do online transactions Considering the addition of digital credit card payments to the construction industry there is a great deal of accounting improvement that can be had in the long run. With the reduced pressure and stress that could be placed on the accounts receivable department, there is much more emphasis that can be placed on the improvement of the company’s finances as a whole. So for all aspiring construction business owners, take note that there will be much more to be gained in developing business investors, stocks and more, with the long-term gain of business growth and larger customers and projects. So, with those payments coming in more easily there is a redirected focus on your construction business development. Many Thanks To Paige Martin For Authoring This Article In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   Download The Contractors APP Now! Access code: FEAHEROS The QR Code Below Will Go Apple Or Android Store Whichever One You Need Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: About The Podcaster:   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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+      Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Top_7_Reasons_To_Accept_Credit_Cards_In_Your_Construction_Company

This Podcast Is Episode Number 0260, And It Will Be About Dave Nergi From Contractors Secret Weapon Interview   Recently I interviewed one of the legends in helping contractors turn bad advertising into good marketing, Dave Nergi. Dave shared some of his most precious gems about how to generate a lot of new leads. The best nugget of all is his three-step proven sales strategy: Before The Sale During The Sale After The Sale First a little background on Dave Nergi Dave Negri is the founder of Contractors Secret Weapon His marketing podcast is unlike anything available elsewhere to contractors. He talks with marketing specialists across the board who give us concrete tips directed entirely towards the trades. Some of the topics they cover include Marketing, Sales Cycles, Pricing, Positioning, Branding and more. Just about everything he talked about when I interviewed him included the good the bad and the boring. We discussed what has worked for Dave in his Painting and Real Estate Investment business and why it worked and why it might not have worked. Dave went into extensive detail about why good marketing is the key to having a very profitable business. One of his quotes I really enjoyed is "Throwing good money into the black hole of advertising is not good marketing it is BAD advertising." During this Podcast, he revealed the key differences and teaches the right questions to ask advertisers. Dave considers it a win if you cease thinking of your contracting company as commodity-based and switch to value-based. The only way to do that is to cherry-pick only the best "clients" and leave low value "customers" to your competition. Customers Vs. Clients Customers - Are disloyal price buyers who buy products and services with cost as their primary consideration. Clients - Are loyal value buyers who purchase goods and services with suitability as their primary consideration. Your Business Strategy - Will determine which group you want to serve and there is no right or wrong answer, just different approaches. High Volume And Low Margin - Construction projects can generate the same net profit and cash flow as low volume and high margin projects. Think - Long and hard about what you want your construction company reputation for serving the best clients and delivering high value. The Contractors 80/20 Rule And QuickBooks Job Profitability Reports are the keys to sorting Customers From Clients. The 80-20 Rule Combined With Business Process Management Can Improve Your Life In Ways You Never Dreamed Possible! 20% Of The Construction Companies - Share the Top 80% of the profits which the owners and shareholders use to support lavish lifestyles because they know what to do when to do it and how to do it! 80% Of The Construction Companies - Share the Bottom 20% of the profits which the owners and shareholders use to support just above or just below average lifestyles because they don't know what to do, when to do it or how to do it! Dave Nergi's Contracting Experiences And Life Lessons He Shared Dave has been a painting contractor and entrepreneur for the last 28 years. He has successfully started and grown service-based businesses like his Elite Home and Property Services company in Clearwater, FL. Through hard work and marketing knowledge, Dave has left the day-to-day operations so he can help other contractors grow and succeed. In 2001 Dave put his painting business aside due to the boom of the real estate market. He focused on buying and selling houses for the next 5 years, successfully “flipping” over 55 homes. He attributes his success at this endeavor entirely to his knowledge and background in marketing. While other contractors scrambled to pick up crumbs then and in the following crash, Dave has been chugging away, providing a very nice life for his family and taking his wife (Valerie) on trips and generally enjoying his success. I trust you will enjoy listening to this podcast and please feel free to contact Dave Nergi: Call (727)342.0482  [email protected] www.contractorssecretweapon.com  Editor's Comments:   Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   Download The Contractors APP Now The QR Code Below Will Go Apple Or Android Store Whichever One You Need Click here to download the App on iOS: Click here to download the App on Android: 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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+      Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Dave_Nergi_From_Contractors_Secret_Weapon_Interview

This Podcast Is Episode Number 0259, And It Will Be About Unique App For Construction Contractors It’s landed! The Brand new App from Fast Easy Accounting! Simply scan the QR code below or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7. Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: It is designed for Construction Contractors You do not have to be our client to download and use it because it is FREE! If you are not a Contractor you will find value so download it too! Why not it is FREE! The QR Code Below Will Go Apple Or Android Store Whichever One You Need Access code: FEAHEROS Or click to download the Contractors APP now from the App or Android store      Click here to download the App on iOS: Click here to download the App on Android: It’s completely free of charge and it’s available for iPhones, iPads, and Android devices. So the next time you need to access some third-party sites such as Xero, QuickBooks or visit the IRS site, our new App can help. It provides you with up to date, important accountancy data at your fingertips. PLUS: Photo Receipt Management, Email, and Store Never lose a receipt again! Using the latest App, you can track receipts and expenses literally at the touch of a button. With minimal effort, you can take a picture of any receipt and save it to your App. Any additional information can be added later and receipts stored by amount, category, and date. It can help you track all your expenses with ease and enable us to interact digitally with you. GPS Mileage Tracking and Management tool. When it comes to mileage tracking, half the battle is keeping an accurate tab on your journeys. Using the built-in GPS on your device, it will automatically track your mileage, helping you to record every single trip at the touch of a button. It also manages trips as well, storing them and allowing you to view, edit or email them with complete ease. Keeping in touch via ‘PushNotifications’ Here at Fast Easy Accounting, we are committed to finding ways to communicate and interact with you in the most efficient possible way. The new App enables us to send push notifications to all App users. We will be using this feature to share important news, deadline reminders and financial updates with you. This App was designed to provide every service you could ask from us. We’ve put your favorite business systems, invaluable tools and features such as calculators, tax tables, logbooks, receipt and income management, instant access to the latest financial news and information and valuable company info, directly from us. With all this on one App, our App will likely be your go-to tool in the future. It’s available for iPhone, iPad and Android devices completely free of charge right now! Enjoy our App with our compliments! Packed Full Of Useful Tools! We are one of the first Construction Accounting firms in the world to launch a free mobile App for Contractors. It’s packed full of useful Tax Tables, Calculators and significant financial dates, all of which you can access for free whenever you want. What Will The Contractors App do for you? The App has been carefully designed in response to the growing use of smartphones and mobile devices used by our clients across Berkshire. We wanted to develop a way to keep you up to date with the very latest news, views, and tips from Randal DeHart, The Contractors Accountant as well as providing you with key accounting data, in real time, at your fingertips. Our App will enable you to calculate the tax on certain company cars or check the amount of tax you might be paying. It will give you the power to evaluate how you might intensify your profits as a business. GPS Mileage Tracker When it comes to mileage tracking, half the battle is keeping an accurate tab on your travels. Using the built-in GPS on your device, it will automatically help you to keep track mileage, helping you to record every single trip at the touch of a button. Why use our GPS Tracker? Manage & Store Trips View & Edit Trips Email with complete ease Receipt and Expense Management Using the latest App, you can keep track of receipts and expenses literally at the touch of a button. With minimal effort, you can take a picture of any receipt and save it to your App. How can this tool help you? Receipts stored in one place Keep track of expenses Easily managed and accessed Keeping in touch with Push Notifications We are committed to finding ways to communicate and interact with you in the most efficient way possible. The new App enables us to send push notifications to all App users. We will be using this feature to share essential news, deadline reminders and financial updates with you. This App was designed to provide every service you could ask from us. We’ve put your favorite business systems, invaluable tools and features such as calculators, tax tables, logbooks, receipt and income management, instant access to the latest financial news and information and valuable company info, directly from us. With all this on one App, our App will likely be your go-to tool in the future Download The Contractors APP Now The QR Code Below Will Go Apple Or Android Store Whichever One You Need Click here to download the App on iOS: Click here to download the App on Android: Simply scan the QR code or search for ‘MyAccountants’ in the App Store and enter the Access code: FEAHEROS to utilize the powerful App features and capabilities, and benefit from having our Construction Accounting App at your fingertips, 24/7." PS: Even if you are not a Construction Contractor you will find a plenty of benefits in the app so we invite you to download it too! It's Free so why not? In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_App_For_Construction_Contractors

This Podcast Is Episode Number 0258, And It Will Be About Construction Company Field Vs Office Profit Growth Strategy   Field Vs. Office Battle Where did the insurrection between office and field start? Do you wonder why some Construction Contractors have ongoing rebellions between the two subgroups and other Contractors don't? Better yet what can you as a Contractor do about it and why should you care? Friction Costs Time And Money Start by visualizing what Ten Minutes Of Waste A Day Costs Your Bottom Line. For office staff multiply hourly wage by 1.75 to get a rough estimation of expense. Start with hourly wage + payroll taxes + overhead. Office staff earning $15.00 an hour with payroll taxes and overhead taxes costs roughly $25.86 an hour. $0.43 every minute or $1,120.56 Every Year. At 10% profit you would need $11,205.60 more sales to make up of the loss. For field multiply their hourly wage by 1.42 to get a rough estimation of what they cost your company in terms of hourly wage + payroll taxes + overhead. For example: Your field worker that you pay $25.00 an hour with payroll taxes and overhead taxes cost you roughly $35.64 an hour or roughly $0.59 every minute or $1,544.42 Every Year. At 10% profit you would need $15,444.20 more sales to make up of the loss. Everyone has a conviction of how the reality. Yet not everyone is mature enough to appreciate "We Live In A World Of What Is; Not What Should Be" - Randalism. This is the elemental reason of misunderstandings which lead to massive declines in productivity, steep deteriorations in cash flow and profits. What Gets Measured Gets Managed. Find and stop cash flow leaks and profit drains by walking a mile in the shoes of both office staff and field workers. Management By Walking Around Spend time in your office and become someone's assistant. Observe how they accomplish their work and understand what they do and why they do it. The number of steps required to process payroll will amaze you. If your construction company does Job Costing that adds several steps to preparing payroll and even more steps when entering receipts, bills, invoices, purchase orders, cash payments and checks. Oftentimes your office staff is working with misinformation. A receipt without a job name or address or any clue which job it goes too. A bank statement that only shows the date the check cleared, the check number and the amount without any information regarding who it went too, why or a job name. Office staff believes field workers are lazy and incompetent, field workers believe office staff is too nosy and wasting field workers time. Many times field workers will bring receipts for material, fuel, permits or something else they paid for personally to the office expecting to get reimbursed immediately. Most of the time the paperwork does not have the job name or any authorization from you or your management team and office staff is reluctant to just pay it. Again field workers judge office staff is trying to cheat them or at minimum playing power tripping games. Reimbursements hidden cost. If field workers do not get instant action they will wantonly expend 10-15 minutes which costs the company $5.90 to $8.85 for their time plus $4.30 to $6.45 for your office staff for a subtotal between $10.20 to $15.30 and that does not include the hidden cost of operating the company vehicle which can range upwards of $2.75 or more a mile. Office workers are already overloaded and these interruptions increase their annoyance and strain to a new level which causes them to lash out at the field worker. And so begins the battle between field workers and office staff. Spend time with your field workers and become someone's apprentice. Observe how they perform their work and understand what they do and why they do it. The number of steps required to mobilize on a job site and get tools, material and field workers in place is a process in itself. Most of the time when field workers arrive at the job site they encounter blockages from weather, access, electricity, waster, restrooms / portable toilet access, missing plans / blueprints, missing / broken tools, other tradespeople in the way or not having done their part of the job which causes chain-reaction delays. On top of all the other delays and setbacks the bean-counters, office staff, expects them to fill out a time-card with where they are and what they are doing (Cost Codes) and to write notes on every piece of paper before handing it to the bean-counter, office staff. The peeved field worker feels they have to do all the important work and all the office staff work too. Office and field are separate but equal. Each skill-set requires different working style and different cultures. It is your profession as the contractor to help everyone come together and understand each other's job and how it fits in the grand scheme of things. Office ensures your contracting company has a steady flow of projects and develops timely reports to show which ones are profitable so you can pursue more of them and which ones are not profitable so you can avoid them in the future. It is the 80/20 Rule For Contractor Success. To do this, they need to chase after everything. How To Combine The 80/20 Rule With Business Process Management The 80-20 Rule Combined With Business Process Management Can Improve Your Life In Ways You Never Dreamed Possible! 20% Of The Construction Companies - Share the Top 80% of the profits which the owners and shareholders use to support lavish lifestyles because they know what to do when to do it and how to do it! 80% Of The Construction Companies - Share the Bottom 20% of the profits which the owners and shareholders use to support just above or just below average lifestyles because they don't know what to do, when to do it or how to do it! What Successful Contractors Do Successful contractors understand how and why the business cycle of construction works and they stay focused on keeping work moving through the four components: Acquiring customers and clients Doing the project as close to on-time and on budget as possible Get job deposits and timely progress payments Follow up with the customers and clients to monitor satisfaction and line up new projects The key is continuously refining your Contracting System to move from People Dependent To Process Dependent. Find The Right People Jim Collins authored the best seller Good To Great talks about getting the Right People. Dr W. Edward Deming wrote and spoke extensively about the willing worker and demonstrated with The Red Bead Experiment. Field versus office battle can rob your contracting company of time, money and resources and eventually wear down even the toughest contractor. Enlightened contractors like you understand the value of developing your own unique Construction Contracting System which is a collection of documented repeatable process and operations manuals which is like to the Rubiks Cube that annoying yet fun toy that can entertain and frustrate you   In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   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+  We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+      Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construction_Company_Field_Vs_Office_Profit_Growth_Strategy

This Podcast Is Episode Number 0257, And It Will Be About Tips To Keep Your Construction Business Finances In Order If you’re like most small construction business owners, you spend the majority of your time managing daily operations, keeping clients happy, and looking for new ways to grow. Spreadsheets, cash flow analysis, and financial projections are probably not your first passion. However, measuring profitability, creating realistic budgets, and planning for the future is crucial to your professional success. Follow these three tips to get a handle on the numbers, and take control of your business finances. Move to the cloud  How much of your time do you spend hunting down financial documents, poring over spreadsheets, and tracking expenses? Always searching for and trying to integrate scattered data makes it nearly impossible to close out the monthly books quickly and efficiently. Plus, reliance on spreadsheets is a proven liability. Research shows that over 88% of all financial spreadsheets contain errors. Manage your business finances faster and more accurately by moving them to the cloud. Cloud-based financial management systems have several benefits, including: Integration with all your other construction operational systems for the quick retrieval of the most current data; Automation of daily financial processes so you can step away from spreadsheets; Efficient expense tracking that improves accuracy and reduces revenue leakage; and Secure collaboration with team members and stakeholders. Conduct regular financial reviews Experts agree that vigilance is key to effective business financial management. Each month, set aside time to review your balance sheet, profit, and loss statement, and cash flow statement. Regular monthly check-ups will give you actionable insights into your business performance and growth potential. This information is crucial for: Projecting future revenue, cash flow, and expenses Validating major purchasing decisions Anticipating and mitigating risk You’ll need this critical data, too, if you ever want to apply for a loan to expand and grow your business. Bring a professional on board On the surface, hiring an experienced bookkeeper or accountant may seem pricey, but their expertise could mean considerable long-term gains for your business. A technical, financial expert can optimize the efficiency and accuracy of your business management, granting you peace of mind and added time to pursue growth opportunities. Plus, most small businesses don’t need full-time professional help. Outsource accounting services are typically enough to help you manage crucial processes, plus a few extras, including applying for a business loan or overdraft, articulating and adapting your business plan and managing sudden growth – for example, hiring new staff, acquiring office space, or determining when to introduce a new product or service. In conclusion Consider consulting with a construction accountant for basic construction bookkeeping or accounting insights so you can better understand the fundamentals of business financial management. The knowledge you gain will feel empowering and can help clarify discussions with your accountant. Self-education is also vital when it comes to investing in financial technology. Be sure to do your research and again, consult an expert before investing in any new accounting solutions for your construction business. Your knowledge, combined with professional support, is the best route to sustainable, effective business financial management. About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]   ____________________________________________________   Editor Comments: I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_8_Easy_Ways_Sales_Can_Improve_Their_Marketing_Skills

This Podcast Is Episode Number 0256, And It Will Be About Tips on How to Save on Construction Materials Today's Podcast Is Based Upon A Guest Article From Melisa Marzett Melisa Marzett is wonderful at writing. Each and every piece she writes is a vivid proof of the statement. Currently working for smartessayrewriter.com she provides with pieces of high quality and diverse in their nature. ----------------------------------------------------------------------------------------------- Repairing is costly, which is why it is highly important to know how to stay within the budget and where is possible to save money. There are a few pieces of advice, which are going to be in handy for those who face repairing. 1. Precise calculations. First of all, one should calculate the number of required materials, to think about the pragmatic angle and to stop on those options, which are truly not expensive for one`s pocketbook. 2. Stocks and sales. Sometimes during the period of sales, one is able to find many interesting materials of high quality and affordable prices in tool shops. Here, just like in the clothing stores, the assortment is always renewed with a new season coming up or after certain collections to be renewed. 3. All at once! If there is such a chance, try to get all the materials in one store. Usually, there is always a certain sale proposal for a huge purchase in the markets. 4. Lining the walls. Doing a repair, there are always much things and time spent on lining the walls, their coating and wallpapering. It is possible to save money on this process too. For example, to bare bricklaying or to use cheap parget for decoration. 5. Wallpaper alternative. Those walls, which do not require lining, may be painted. Wallpapers of high quality with good characteristics are not cheap at cost. Acrylic paints work well for this aim and colors of different tints. They get dry fast and od does not have an unpleasant smell. 6. If there is no chance to go without wallpapers, despite a huge popularity of painting walls, wallpapers remain popular too. The best way to choose wallpapers without any images or with tiny ones. It will make it to where spending of material will be less. Texture wallpapers for painting will let save money on lining walls and in the future will let change the way a room looks without any global changes. Besides that, such wallpapers are allowed to wash, which makes them irreplaceable for rooms where children live. 7. Ceramic tricks. Ceramic piles cannot be called a budgetary material but sometimes it is impossible to go without it especially for a kitchen and bathroom. It is impossible to save if to decorate those parts only where moist gets in – near a sink, a bath, on a splash back, in the corners of the bathroom. The rest is preferable to cover with paint. Piles can also be combined or to use broken ceramics in order to create the interesting mosaic picture. For costs reasons instead of ceramic piles plastic panels can be used in the bathrooms. 8. The mild and warm floor. A carpet will let to save a lot on changing parquet. Of course, this is not the best decision for a kitchen or a bathroom but for kids` room or a living-room it is going to be looking just right. The only thing is that in those places where many people get together, it would be a bad idea to put a carpet in the high pile on. 9. Laminate: to be or not to be? There is no need to avoid this kind of floor coating. The most wear proof in its category is laminate of 32-33 category. It is stable and will serve longer than other ones. As for the color, avoid expensive word imitations. It looks cheap. The more natural and simple the coating looks, the better. 10. Ceramic granite. It is one of the most popular materials today. It is expensive enough but along with that is quite practical. This is why kitchens and bathrooms are decorated with it. Even among rather cheap collections of ceramic granite, good wood and natural stone imitation can be found. The key option will be onyx-like or marble like ceramic granite. It will make it to where the interior will be looking noble and elegant. About the author: Melisa Marzett is wonderful at writing. Each and every piece she writes is a vivid proof of the statement. Currently working for smartessayrewriter.com she provides with pieces of high quality and diverse in their nature. About The Author: Melisa Marzett is wonderful at writing. Each and every piece she writes is a vivid proof of the statement. Currently working for smartessayrewriter.com she provides with pieces of high quality and diverse in their nature. ___________________________   Editor Comments: I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.  Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Tips_On_How_To_Save_On_Construction_Materials

This Podcast Is Episode Number 0255, And It Will Be About Choosing The Right Construction Accounting Solution For Your Company Choosing From Many Construction Accounting Solutions Available Finding a solution that will do “All I Need It To Do” This is the challenge for Construction Contractors. One of the most basics is pad and paper. Write out your proposals on a piece of paper and give it to your client when presenting a Bid, Estimate, List of Material, Invoice, Receipt For Payment. It is Simple, and it works. I remember the 13 Column Pad and a good calculator with paper tape. Happiness was when all the columns added up and matched both directions “The First Time.” Moving up using the paper method is a pad of carbonless forms. They come in assorted sizes and are blank and ready for you to customize as needed. You can order carbonless forms pre-printed with your letterhead and some of your standard items. For an additional fee can have the Disclosure or Notice To The Owner preprinted on the back and other statements regarding warranty printed on the front.   One sub-contractor put a copy of his logo with contact information on a blank piece of paper and photocopied it over and over again and used it as an invoice. Yes, I asked – the office used QuickBooks and translated his handwritten “stuff” into real information). Easy to create an invoice “On The Fly.” Moving into a little more technology; I remember Contractors using Quicken Home and Business. It worked for awhile but discovered that for financials statements Tax Accountants felt it gave them “something” saying that “something was better than nothing” (author unknown). Making your reports Hard on everyone around you may not have the best result. Missed deductions, higher fees charged.   Your Tax Accountant wants to help you save money and pay only what you should be paying in taxes. It is a challenge if your Tax Accountant does not have a clean set of financials, Profit & Loss and Balance Sheet Reports for the previous year. Tax Accountants are dedicated professionals able to keep track of the Tax Code and how it will impact you, me, your friends, family, and neighbors. Each tax return is a little bit different and in the end, Tag Your Tax Accountant is it.   Besides the Internal Revenue Service, Social Security, every banker whether you are applying for a Car Loan, Credit Card, Buying A Home is looking at your financials. Some software can give necessary information, and it might be “just enough” for the Tax Accountant to do you are Annual business and personal taxes. Best foot forward. I have had New Clients come to me because their existing Accounting file was a MESS or they were using software that their banker was not easily able to explain the financials to the Loan Committee.   Bankers are usually polite when they say No and may not be comfortable in telling you the real reason is they had to present the most easily explainable financials to the Loan Committee. You could be the most profitable and financially worth the risk – but the aggravation of messy paperwork may not be worth it for them to try. They need to keep in mind outside factors of “how they look” and most positive reviews.      Some Construction Contractors have downsized their accounting system. Before the downturn of the economy, they had a more substantial Construction business, employees, in-house staff and specialty software. Hats Off to everyone who made it, challenges and all. Last year was better than the previous years. This year is looking much better for almost everyone I am talking too. Thanks to the hard work of all.   Let Me Share A Little Bit About Our Different Services. We Are Much More Than Just Contractor Accounting We support Outsourced Clients using QuickBooks Desktop. Use QuickBooks Desktop in a “cloud environment.”   QuickBooks Desktop in the cloud is not the same as QuickBooks Online. QuickBooks Desktop is very customizable and can quickly create reports.   We can add to Chart of Accounts, Items Lists, Reports to meet the needs of clients.   QuickBooks can be a simple electronic checkbook or invoice program. With us, you do not have to have access to QuickBooks to get the benefit of the reports generated. Your tax accountant would appreciate that you use an accounting system that creates Profit and Loss and the Balance Sheet for the ease of creating annual tax return. Your customers would like an invoice they can read and understand. Your supplier wants you to pay their bills promptly.   We Recommend QuickBooks Pro, QuickBooks Premier and QuickBooks Enterprise desktop in the cloud because we have used it since 1991 in several of our construction companies and we provide Outsourced Construction Accounting for a lot of contractors all across the USA including Alaska and Hawaii. Yes we have tried dozens of other accounting softwares including QuickBooks Online and we keep coming back to QuickBooks Desktop in the cloud. Remote Access To QuickBooks Desktop In The Cloud Access QuickBooks Desktop Version From PC or Mac Highly Skilled Technicians Maintain The Software   And We Maintain Your QuickBooks File   Paperless System For You To Store, Print, E-mail Documents   Microsoft Word Is On The Server For You To Use Microsoft Excel Is On The Server For You To Use Frequently Asked Questions And Answers Click Here   Push A Button And Have: The Key Reports You Need: Cash Report anytime YOU want it! Receivables report anytime YOU want it! Payables report anytime YOU want it! Profit & Loss statement anytime YOU want it! Balance Sheet report anytime YOU want it! Job Costing report anytime YOU want it! Estimates Vs. Actuals report anytime YOU want it! Frequently Asked Questions And Answers Click Here The Screenshots Below Were Taken In Our Lynnwood Washington Office  QuickBooks Is 1,000+ Miles Away Running On High-Speed Servers     Tucked Securely In A Building With Armed Guards With Highly Skilled Technicians Maintaining It All QuickBooks Files Are Backed Up Every Night On A Secured Server Access Windows QuickBooks Desktop Version From PC or Mac English Speaking, U.S. Based Technicians Maintain The Server QuickBooks Software Updates Are Automatically Applied We Provide Your QuickBooks Maintenance And Support  Frequently Asked Questions And Answers Click Here    This Solution Works Best For Contractors Listed Below: #1 BOOKKEEPING DO-IT-YOURSELF – Follow the links for the Individual Contractor Types. This will get you pointed in the right direction. If not call me and I will help you get there Sharie 206-361-3950. #2 BOOKKEEPING DONE-FOR-YOU – Follow the links for information about using our Outsourced Accounting Services.   BOOKKEEPING DONE-FOR-YOUBOOKKEEPING DO-IT-YOURSELFAsphalt ContractorAsphalt ContractorBrand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services   QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 We use other software programs for document management, more detailed financials, and general ease of doing our work. These software programs assist us to work faster and in keeping our fees lower. As much as we all wish it; reality is that no one software does everything. The key is finding the right products that work together where to the outside world it looks seamless. Proper Accounting is like your projects when they are finished, listening cute, with your customers saying “Wow, I could have done that” Thanks! We are in the process of adding a Phone App for our clients. Welcome everyone to download it when it becomes available as it will have FREE features useful to everyone. Every little bit helps.       Check out the FREE Forms on FastEasyAccounting.com. You will find an estimate, invoice, timecards as some of the forms available. Look forward to chatting (or chatting again) with all of you. I am excited when someone I talked to years ago is calling back. Anytime time we chat; I want to leave something of value from our conversation even when it is apparent that we will not be doing business together.   With a good conversation and exchange of information – you are helping me with what is happening in your area. The software you are using. Other services that you found helpful. “Free, Perfect, Now” is not the only solution. You have to know what you are looking for to determine if “Free” is a good bargain.   What Do You Need Today? Explaining Our Commonly Used Accounting Terms: Outsourced Accounting – This is where enter your transactions into your QuickBooks Desktop file. Access to your QuickBooks file is optional. We have reporting tool, in-box, invoicing program. Document Management Systems where we receive electronic documents or scan paper documents to. QuickBooks Desktop Setup can be on Pro, Premier, Enterprise the PC or Windows Version. New QuickBooks Desktop File – for a Brand New Company or Starting New File, No Transactions. Chart of Accounts – Add our Customized Chart of Accounts to an existing QuickBooks file. Items Lists are added to existing QuickBooks file and are usually Construction Specific to your needs. QuickBooks Cleanup of existing QuickBooks file with all transactions is already in the QuickBooks file. QuickBooks Cleanup is moving existing transactions as needed, adding lost sales to the file. We reconcile all bank and credit card accounts to verify all the “Cash Transactions” are in the file. Looking at Loans, Long Term Payables, Accounts Receivables. The Three O’s. Who Owes Who Money?   In addition to digital products, Free Forms are available on FastEasyAccountingStore.com The store has several categories for Contractors In USA, Canada, International with digital products for QuickBooks Desktop, QuickBooks Online, Xero. QuickBooks Online and Xero products may import other Online Accounting Software.   You can reach the Fast Easy Accounting Store at the top of the homepage on FastEasyAccountingStore.com When we are chatting – I find it easier to drop farther on the home page below the picture of the USA map.   BOOKKEEPING DO-IT-YOURSELF – Follow the links for the Individual Contractor Types Doing this can get you pointed in the right direction. If not call me and I will help you get there.   BOOKKEEPING DONE-FOR-YOU – Follow the links for information about using our Outsourced Accounting Services.   Blend of Both Worlds – Be on the server, with payroll imports and specialized reports from our reporting tool. Thinking Happy Thoughts Enjoy Your Day. Sharie In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Choosing_From_Many_Construction_Accounting_Solutions_Available

This Podcast Is Episode Number 0254, And It Will Be About Five Marketing Tips For Contractors   Today's Podcast Is Based On A Guest Article Is From Brandon Stanley ------------------------------------------------- Are you a contractor that’s looking to get more clients to sign up for your services? Then you need to learn the basics of marketing yourself so that you receive more exposure. By implementing the tips suggested in this article the amount you can earn will increase.   You don’t have to spend hours every day marketing yourself in an aimless manner. With a solid plan in place, you can quickly advertise yourself in front of many potential clients at an affordable cost. 1.  Social media One of the most cost-effective ways of marketing yourself as a contractor is social media. You can build a following of potential customers and notify them when you have promotions or new deals. On a Facebook page, you can create posts with a code for a discount. You can also take advantage of influencer marketing to get the message out about your service. For example, on YouTube look for a popular channel that is currently releasing a lot of videos related to your industry. So if you’re a car mechanic, you could target a channel that talks about new cars and DIY car repair jobs. Influencers might not charge much to do a little 10-second mention of your services, but the return could be huge. This all depends on the number of people that are subscribed to the YouTube channel. 2. Newsletter You can take advantage of email marketing to harness the power of constant communication with your potential clients. Once you’ve acquired the email address of clients, take the time to introduce yourself and what you’re about. In consequent emails make it your mission to provide as much value to your email list as possible. For instance, if you’re a contractor that installs solar products in the home, then you can inform the audience about the advantages of such products. You can also provide information about how to choose among the different solar products that you’re offering. The email newsletter should be sent out regularly so that the audience expects it. Then when you have an offer or promotion running, you can send it out and expect a high rate of response. That’s because after providing value to your list they will be more engaged when an offer is sent. In the email don’t be shy to include personalized recommendations. It’s estimated that a personalized recommendation can increase the conversion rate by as much as 5.5. 3. Local search As a contractor, local search is a big one because you’ll typically be competing against other contractors in your local area. When customers need a service in their local area, then the local search listing inside the Google search engine is where they will look. If you are not there, then you have no chance of being selected. To appear in the local listing, you need to fill out your business information in their business directory. This includes information such as the name of your business, the nature of what you do, your operating hours and so on. However, Google can also pull information from your website if there is incomplete information. One thing that will set you apart from the competition in the local listing is the reviews. The customer reviews can make or break your business. In order to acquire positive reviews, you need to provide a positive experience for the client. However, also encourage the client to leave a review once they have finished using your services. Acquiring a horde of reviews means you’ll be more trusted. If one company has five positive reviews versus another that has hundreds, then the latter is more likely to get chosen. 4. Build a blog It’s a high ROI investment to have a blog regardless of what contractor business you are operating in. The blog can serve as the center of operations because you can use it to educate your audience on your services. Also, the blog can be entertaining. If you find any funny news in your industry, then create a short 300-word blog post to share it. This keeps the user engagement up and may potentially lead to viral content. It doesn’t matter how people end up on your blog, once they do you can use the newly acquired traffic to your advantage. The primary goal should be to acquire the email address so that you can market your contractor services on a regular basis. The conversion rate of email marketing is significantly higher than simply having a blog on its own. 5. YouTube marketing YouTube can provide a huge new audience that you might have never explored. Videos are becoming the number one way to consume information. Therefore, if you aren’t creating videos, then you are missing out. The videos can be instructional in nature where you describe how to use your products or services. You can even educate the followers of your channel on random information related to your trade. For instance, let’s say you’re a contractor that specializes in concrete pathways around the home. You could create instructional videos of how to mix concrete, and how to lay the pathway for themselves. They’ll notice your videos and look at you as an authority in the field. Consequently, they’ll be more eager to trust and hire you to complete the job. As Adam Fraiser from Rushmyessay UK says: “All that it takes for YouTube marketing is getting in front of a camera with your personality”. Conclusion Any contractor can implement the five marketing tips here with success can get a lot of new clients. The devil is in the details, so you need to implement the tips in a productive way. Perhaps take a look at what others are doing in your industry for some guidance. There is no need to re-invent the wheel because you can spy on the competition to gain insight into contractor marketing methods. As you begin the marketing journey, you might discover new opportunities to grow your contractor business. Take full advantage of them to fully saturate the market you are competing in. About The Author:  Brandon Stanley   ---------------------------------------------------------------------- Advertisement For Fast Easy Accounting Below: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs.   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_Five_Marketing_Tips_For_Contractors

This Podcast Is Episode Number 0253, And It Will Be About Improve Your SEO Using Google Trends   Today's Podcast Is Based On A Guest Article Is From Jennifer Scott ----------------------------------------------------------------------------------------------- There's a lot of tools online that you can use to help improve your SEO. When you're picking which ones to use, make sure that Google Trends is in there. It's one of the best tools you can use, as it gives you so much information on what you can to do to improve your SEO. Here's how you can use it to give your site a boost. What Is Google Trends? First of all, you'll need to know what Google Trends is before you can use it. It's a tool that shows you what the world is searching for at any given moment. Not only that, it'll show you exactly where these searches are located, too. If you really want to sharpen your SEO and bring in more readers, you can use this information to punch up your keywords and improve your visitor rates. The Top Three Trends When you log into Google Trends, you'll see the most popular searches overall on the front page. This can be helpful, but it's not where you'll find the good stuff. Webmaster Lisa N. Hawkins at BestAustralianWriters says, “Check out the three tabs that Google Trends offers. These are The Hot Search, Top Charts, and Explore. These give you all the relevant information to your industry.” The Hot Search: This tab shows you what terms people are looking for right now. If you use a term from this search, you can get a good boost in traffic. Top Charts: This tab shows you what's popular in certain sectors. This is incredibly handy as you can look for your industry, and find keywords that are resonating with your audience. Explore: Finally, this tab helps you find the right keywords for your piece. Enter any search term in, and you'll get related terms that will boost your traffic. How To Use Google Trends SEO manager Conrad A. Jimenez at Best British Essays and Top Canadian Writers says, “If you know how to use Google Trends, you can write much more effective blogs.” Here are his tips for using Google Trends. Use the filters Google Trends provides so you can find what you want. For example, you can filter out Youtube videos, images, and more.   Use the country selection menu if you're looking to hone in on readers in a certain area. It's amazing how much popular terms can vary from place to place.   Try using 'Explore' if you've already done your research and you have some search terms in place. This can help you beef them up and make them more exciting.   Look at the Hot Trends to see if you can use a name to boost your post's popularity. For example, if you see Katy Perry trending, you can use her in a post about recording music. Writing Your Blog Posts Now that you have your search terms, you can start writing up your blog posts. There's an art to writing your posts to get the most out of the keywords. Ensure your hard work doesn't go to waste! Write for humans, not search engines. Remember, you want to keep readers coming back, so write a post they can actually use.   As Huffington Post in Write Your Essay have recommended, you can get help in writing blog content if you need it.   Fit keywords naturally into your text, so they're not noticeable. CONCLUSION: There you have it. When you know how to use it, Google Trends is a powerful tool. Put it to good use, and you can give your SEO a serious boost. It's all about finding the right keywords for your audience. About The Author: Jennifer is the business developer that works in different areas of education, technology, security and various types of online marketing. Prior to business developing Jennifer was consultant at Deloitte, and managed security services provider and developer of a wide range of security solutions. https://twitter.com/jenniscott1390 [email protected] --------------------------------------------------------------- Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Improve_Your_SEO_Using_Google_Trends

This Podcast Is Episode Number 0252, And It Will Be About What Is Ten Minutes Costing Your Construction Company Two Construction Companies do similar work for the similar customers using similar labor, materials, and subcontractors yet Company "A" earns twice the profits over Company "B." Inside Company "B" Ten Minutes Of Waste Is Killing Their Profits! It Is The Little Leaks That Sink The Big Ship! Company A focuses on Strategy and Tactics. Company B only focuses on Tactics. To paraphrase Sun Tsu "If the Strategy is correct, then a large number of tactical errors can be made, and the enterprise will be successful; however, efficient operations cannot overcome bad strategy." Every Ten Minutes A Day Of Waste You Have In Your Construction Company Is Destroying Your Profits, Your Future, And Your Life! Harsh Words - And yes I know you are a tough contractor who is accustomed to people trying to sell you something and get in your pocket all the time, so you learn to ignore a lot of crap! You Are Right I Am Trying To Sell You Something - I am trying to sell you to you and the importance of taking care of your construction company profits so they can take care of you. Let's Get To It - There are 100's of improvements that can be made in any construction company and 20% of the improvements will have the most impact. 80% will have the least impact. See The 80-20 Rule For Construction. Below I have listed the two biggest drivers of profit loss and the easiest ones to analyze and fix. Review them and leave a comment and I will personally respond to you. 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. The owner Hires A Cheap Bookkeeper part-time for $15.00 an hour 10 hours a week in an attempt to save money without understanding the actual cost is $25.29 per hour. See the chart below:   Every 10 Minutes A Day Of Unproductive Office Labor: Costs Your Company $273.93 Each Year At 10% Profit, You Need To Sell $2,739.30 More To Maintain The Same Profit Margin In Some Cases, we can do more work for less money by providing you with construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year-end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more. As a bonus, we can show you how to use simple strategies to make more money faster! Profit Drain #2 Cheap Tools And Equipment Invest in the best tools and equipment you can afford because in the short run you will save money. Construction workers who take pride in their work and will produce better results faster with fewer repairs if they have quality tools and equipment. Make More Money Faster with productivity gains. See the chart below: Every 10 Minutes A Day Of Unproductive Construction Worker Labor:   For Employee #01 Costs Your Company $1,544.42 Each Year At 10% Profit, You Need To Sell 15,544.20 More To Maintain The Same Profit Margin For Example, your best construction worker asks for a tool that costs $1,200.00 and will last three years. The standard response is "we can't afford it!" The fact is you can't afford not too! Highly Profitable construction company owners will ask their construction accountant to calculate the projected the Return on Investment (ROI) is and then consult their Strategic Business Plan to make an informed decision. In This Example, it may make sense to finance the purchase even if it means using a credit card with a 12% interest charge because the Return on Investment (ROI) is $3,289.36 or 245% ROI. See the chart below: Two Contractors Doing Similar Work for similar customers with the similar direct and indirect construction costs will have massively different net profits for the year. Their KPI Reports will be more favorable which means a more stable construction company. Size matters when it comes to piles of money and bigger profits! Construction Success Is A Few Simple Disciplines Practiced Every Day Construction Failure Is A Few Simple Errors in Judgement Repeated Every Day  Click Here To Learn About Developing Your Construction Company Strategy 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  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 [email protected] 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 Business Process Management (BPM) For Contractors Need Help Now? Call Sharie 206-361-3950 [email protected] 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+  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  In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+  Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_What_Is_Ten_Minutes_Costing_Your_Construction_Compnay

This Podcast Is Episode Number 0251, And It Will Be About A Recent Interview With Tom Reber Of The Contractor Fight Part 2 Of 2 Today's Guest Article Is From Tom Reber Of The Contractor Fight Trying Something New Part 2 Of 2   Get A Picture The second approach I recommend is having them send you a picture. Newsflash: We live in a time where people expect us to use the available technology in our businesses to be more efficient and make thing more convenient. Sending a picture means the client doesn’t need to schedule another hour or more of their time with some company that may or may not show up on time.   It means a woman can get a price without having to meet some stranger in her home while her husband is away. Put a form on your website for them to upload pictures or at the very least have them text them to you. 99% of the prospects love this. If anyone has a problem with this it’s the average contractor who has head trash around it. Getting a photo is easy. It sounds like this: Prospect: Hi, I’d like to get an estimate for painting a bedroom. You: Thanks for calling! (Insert gathering their contact info here and find out where they heard of you, etc). Would it be ok if I share our process with you? Prospect: Sure. You: We have a free estimate and a paid consultation. The free one means you send a picture and I call you back and we talk about the job, what it could cost and see if it makes sense to take the next step. The paid is when we come out and provide a detailed report and scope of work that you can use to compare to others and shop around. That’s $200. Which makes the most sense to you? Then, shut up and let them talk. Most will send the picture. Most will say “That’s a great idea. It’s so easy.” Differentiate yourself and claim your spot as the expert in your industry. Slow things down and make sure they are on your system. Get a picture and make it all about it being convenient for them. You’ll sell at higher rates and run around less, which will allow you to work more on your business. About The Author: Tom Reber is the host of The Contractor Fight Podcast.  He has helped numerous contractors around the world generate millions of dollars in sales and profits, become stronger leaders and build better teams. Hit up TheContractorFight.com for tips and strategies to help you kick ass in business and life. Editor’s Note: I have only known Tom Reber a short time and I trust him and find him to be very knowledgeable and capable on the subject operating and growing remodeling companies. I Highly Recommend all contractors spend some time on his/her website and get to know him/her. He/she is a valuable resource to all contractors, not just remodel contractors. Please be sure to let him/her know Randal DeHart, The Contractors Accountant, recommended you. ------------------------------------------------------------------- I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Interview_Tom_Reber_Of_The_Contractor_Fight_Part_2_of_2

This Podcast Is Episode Number 0250, And It Will Be About A Recent Interview With Tom Reber Of The Contractor Fight Part 1 Of 2 Today's Guest Article Is From Tom Reber Of The Contractor Fight   Trying Something New Part 1 Of 2 When I first became a contractor many years ago I did what everyone else did when the phone rang: I ran out and gave an estimate. That’s what we do as contractors, right? This practice over the years has conditioned homeowners to expect every home improvement company they deal with to follow the same pattern: Call…set up an appointment for an estimate…meet the person at my house…gather a bunch of estimates…then pick one of them. That’s the clients’ system. Unfortunately, it doesn’t favor us, the contractor. I’m going to share 2 things for you to try that may be new to you, but will help you differentiate yourself from the masses, connect deeper with your prospects and take control of the sales process so it favors you and the prospect. Slow Down The first thing is for you to not run out to everyone that wants an ‘estimate.’ Take some time to have a conversation with them on the phone. In fact, I argue that you should never go physically see someone unless you’ve had a 5-15 minute conversation about what they want, when they want it, about what it will cost, etc. When you slow down the process you are taking control and differentiating from the other companies they are talking to. There are word tracks and techniques that we teach at the Contractor Sales Academy that help contractors become phone pre-qualification experts so these conversations are not awkward. Slowing down shows you are in control. It communicates “I am the expert and this is how we do things here.” Remember, an ‘estimate’ is a guess or an approximation of cost. That is easily doable over the phone with someone. This one thing will save you from numerous hours running around and talking to the wrong people. About The Author: Tom Reber is the host of The Contractor Fight Podcast.  He has helped numerous contractors around the world generate millions of dollars in sales and profits, become stronger leaders and build better teams. Hit up TheContractorFight.com for tips and strategies to help you kick ass in business and life. Editor’s Note: I have only known Tom Reber a short time and I trust him and find him to be very knowledgeable and capable on the subject operating and growing remodeling companies. I Highly Recommend all contractors spend some time on his/her website and get to know him/her. He/she is a valuable resource to all contractors, not just remodel contractors. Please be sure to let him/her know Randal DeHart, The Contractors Accountant, recommended you. ------------------------------------------------------------------- I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Interview_Tom_Reber_Of_The_Contractor_Fight_Part_2_of_2  

This Podcast Is Episode Number 0249, And It Will Be About Contractor Are You Ready For A Very Happy New Year? The year has almost come to an end. Just a handful of things left to do. The term “Burning The Midnight Oil” comes to mind. Some things need to be done and date stamped on or before December 31 of each year or it does not count for the current year. Payroll – Did you take any personal payroll (S-Corp) If not, it may impact your personal deductions.  IRA – 401K Making those final payments before midnight on December 31. (Do not wait until 11:59 PM) Some plans allow you to make payments until April 15th (double check the dates– do not assume)  End of the year income - Getting one last customer invoice out and receiving the payment      Last minute purchases to count on 2017 taxes (expenses or larger item which qualifies for depreciation) January 1 – is the time that the reset button on company financials, payroll tax threshold, expenses, and income start over at Zero. Do you have deductibles that reset or annual caps?       Tax Accountants will be demand explaining how the new changes will impact of and every one of us.   Many changes are coming at the Federal level with the new tax plan passes. Reading the highlights of the new tax plan, we can expect the IRS to be busy in the next few weeks rolling out the new tax rates and how it is applied to the Federal Withholding on your paychecks. Within the pages of the various tax codes that might cause changes in the 2017 tax software. Congress picks whether any tax increase or decrease impacts yesterday, today or tomorrow. Tax accountants keep on top of changes.     Do not expect to be able to file your annual taxes on January 1, 2018.    IRS Statement on 2018 Filing Season Start Date. The IRS has released a statement regarding the first official day to file taxes in 2018. “The IRS Statement on 2018 Filing Season Start Date is basically that there is still no official date. Due to all of the current legislature going on regarding tax laws, there is no official start date for 2017 Tax Season.” Most common State changes are tied to minimum wage rates and employee benefits (example PTO, Sick Pay, Vacation Pay, other employee benefits). Individual cities can be different than the rest of the state (Seattle). Recommend using a 3rd Party Payroll Service with an HR Component to keep in compliance.      Hint For a Pre-New Year’s Day Activity  This is one of the Not So Fun aspects of running a business. You Are The Boss! Buck Stops Here! In addition to doing all the Fun Stuff (meeting your clients). Employees in general (maybe not yours) will start asking for their W2 on January 1st (or before) thinking that they can immediately file.  Some employees might be planning to use a service to file their tax return and receive a “tax refund loan” so they will have their money instantly. To avoid hearing employees ask over and over – it will be less time consuming to send out the W-2 forms sooner rather than later.      Create W-2 and Pass Them Out As Soon As Possible – Remember To Keep A Copy W-2’s and 1099’s have a deadline of January 31st to be mailed out to your employees and 1099 contractors. Be proactive and send out W-9’s now; thereby asking for Federal Tax ID or Social Security Number now. IRS Form W-9 https://www.irs.gov/pub/irs-pdf/fw9.pdf. Check the IRS site for 2018 W4.  Some employees will move and forget to notify you of their new address change until after they have made the appointment to see their Tax Accountant and discovered their W-2 has not arrived.   Think About Your Company Tax Filing Status I recommend changing from a Sole Prop to an S-Corp. Setting up an S-Corp is done with the Secretary of State in your state. Note, a few states only accept forms from a third party service.  If you are currently an LLC – my recommendation is still to become an S-Corp. If not, change your tax filing status to be treated as an S-Corp. The form needed from the IRS is a Form 2553. https://www.irs.gov/pub/irs-pdf/f2553.pdf  Unlike many State Agencies, the IRS does not charge to file their forms. You are asking the IRS to change how your company is being treated. Why is this important? Because the IRS will only accept the form for the current year in January – February (pushing the deadline to March 15th is risky) otherwise the approval will be for the next year (meaning starting in January 2019) instead of January 2018. Quick Tip: Late Penalties to State and Federal Government Agencies are increasing, and they are looking back at filing dates of past returns for additional fees.  Very expensive to borrow money from the government.  In case you need it; it never hurts to ask for a payment plan.   Rule of Thumb When Asking: Be Nice, Be Polite, Ask for a payment plan to be extended for as long as possible and with payments as low as possible. Sometimes no matter how you ask – the person you are talking is not helpful, but usually, if it is within the rules they will. Cash Flow - Every little bit helps!  For many contractors the last few years has been a challenge just to stay in business. For Construction Contractors – the margins are so thin trying that trying to be competitive and to be profitable at the same time, and contractors have felt like they are acting as a Non-Profit without any of the tax benefits.  Every business has challenges; it comes with being in business. Think Positive – Tomorrow will be better.  Now you are ready to have fun and create your New Year’s Resolution Pat Yourself On The Back – Job Well Done Stash Your Magic Wand In The Closet Put Your Feet Up On The Couch Spoil Yourself With Lot of Food Buy Your Favorite Ice Cream Eat More Chocolate Read The Paper Take A Nap Watch TV Be Happy Laugh Live  Yes – I know you also have a list of Business Resolutions.   Construction Accounting and Bookkeeping issues will not go away all by themselves.  Check out FastEasyAccountingStore.com or Chat with me about a Customized Proposal.  Now is the perfect time to clean up your Accounting for 2017, make changes for a better 2018. New Year’s Resolution – One tiny change in your process that will help you grow your Construction Contracting Company.   We are ready to help “A Little or A Lot” with any of those accounting issues when you are ready.  Tomorrow is a new day, and once you, me, we have rested, the challenges will be easier to manage. Again, Best Wishes To Everyone. Have a Very Happy New Year Welcome 2018 Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractor_Are_You_Ready_For_A_Very_Happy_New_Year

This Podcast Is Episode Number 0248, And It Will Be About Contractors Need To Reward Themselves  It's the Holiday Season which means everyone is so busy thinking of everyone else. Wrapping up the end of the year, getting one more thing done that makes sense. I want to be the person who says Merry Christmas! You have earned it. Many of Holiday movies are variations of “Scrooge” based on “This Is Good” and “That Is Bad.” Anyone who has not had any challenges in life has been either extremely lucky or in a very protected bubble.  Congratulations To You Construction Contractor On Your Success! Please send me all your extra four-leaf clovers. If your favorite Happy Leprechaun is not too busy, I will take a little extra Magic. I can never have too much Magic or Sunshine. Life Happens. Challenges Happen. Some Good, some bad depending on the perception of the event. We can all look back and see what we might have done differently. The question is, Did we make a decision? Did that decision seem to be the best decision to make based on the information on hand at that time? If you and I make a thoughtful decision (not a knee-jerk reaction), then it is a good decision. Sometimes we think I should have, could have, if and only, but, because and [fill in the blank]. These are negative thoughts that are not useful. All negative thoughts just drag you down into a bad mental place. I offer The Serenity Prayer As A Beacon Of Truth: http://thelordsprayer.net/serenity.html God grant me the serenity to accept the things I cannot change; courage to change the things I can; and wisdom to know the difference….. Between religions, the name of God may change; however, from my viewpoint, the message of the prayer is the same all over the world no matter what religion is your choice. The key is you have a choice to believe, what you want to believe and how to practice your faith. The sun rises and sets for each one of us every day. Embrace Life Enjoy The Day – Moment By Moment. Do Something Fun. Watch The Sunset. Listen To The Birds Sing. Hear A Train Whistle. Rejoice In The Laughter Of Children for at that moment they are embracing their world with complete abandonment. Smile. Think Happy Thoughts. The Simplest Things Are Free. Every day, everyone can find a reason to be frustrated if they are looking from that particular view. The other driver is driving too slow, too fast, recklessly, music is too loud, passing out hand gestures, honking their horn, on their cell phone, texting, car issues of smoke from the tailpipe, car smells, bad tires, no headlights. The list of things to be annoyed about is endless; no one is exempt. While we are annoyed, there is nothing more dangerous than someone is crossing in the middle of the street, at night, wearing all dark clothes, either being clueless of the danger or playing chicken with cars. Drivers, everywhere at some point during the day or nighttime hours will see happen repeatedly. It used to be when we heard someone who appeared to be talking to themselves, that they were (to put it politely) a little troubled in the head (an old-fashioned saying). Now with cell phones and wireless headsets or earpieces, it is a little harder to pick out the people who appear to be talking to invisible friends. It is easy to listen to the news and become depressed, agitated, or thinking the challenges of the day are hopeless to overcome. Mother Teresa said it best. We the willing, led by the unknowing, are doing the impossible for the ungrateful. We have done so much, with so little, for so long, we are now qualified to do anything with nothing.- Mother Teresa of Calcutta. http://www.beliefnet.com/quotes/christian/m/mother-teresa-of-calcutta/we-the-willing-led-by-the-unknowing-are-doing-th.aspx Now that we have defined the problem – What is the solution? Think Lemonade. Shift in thinking – Are you thinking Inside The Box or Outside The Box? Life is a series of challenges, followed more lessons, tests, and quizzes. It is how we react that makes the difference.  On any construction project – Bearing Walls is Inside The Box (Laws of Physics) The WOW Factor that your clients dreamed of is Outside The Box. Construction Accounting – Numbers are Inside The Box (State, Local, Federal Income Tax, Payroll Tax, Sales Tax Reports) The Estimate Process chosen by you for each project is Outside The Box. As a Construction Contractor, much of your world is Outside The Box. You make what seems like the impossible and turn it into a finished product; whole house remodel, kitchen or bath remodel, new roof, install an attic fan, replace windows, deck, patio, hot tub, swimming pool, children’s backyard playhouse.  The Handyman Contractor fixes “Things,” and those things are very important to the clients who need them. Fixing a door, hanging a closet rod, moving something, removing something. In comparison to a Whole House Remodel it may seem like you are not doing anything. Reality is that to the person who needed the work done that a few simple little things may change their whole world for the better. Your Work as a Handyman Contractor it brings joy to their life. Be Proud of it.  Every Construction Contractor has to determine who fits the profile of my best Customer? What Do The Like To Do? What Are They Good At Doing? Any Construction Contractor can have Fantastic Quality Workmanship in some phases of construction and have to deal with a myriad of separate, unrelated issues if they do not like the work. One of the simple ways to start if looking at your QuickBooks Report “Job Profitability Summary. This is the first step to understanding and using the 80/20 Rule For Success In Contracting. Biggest Gifts a Construction Contractor can give to themselves is the power of choice. Increase Pricing As Needed Collect Job Deposits Ask Customer For The Money Learn The Power of NO! As a person who thinks Outside The Box - From time to time Randal has had to Tell Me No. The wonderful idea that I have is physically is impossible to do. How can that be, I made a drawing and everything. The answer must be a bigger hammer, taller ladder, stronger person, [fill in the blank] tool. I think he is just trying to pop my balloon. In reality, Randal never pops my balloon. No matter how much I think outside the box, visualize about what I think will work, the fact is it is just not going to happen. Sometimes it is the person doing it makes all of the difference in the world. What is your strength? It is always a beautiful site to see a semi-sitting somewhere where most of us could not park a VW Bug. Truck Drivers are a highly skilled craftsman who performs Magical Deeds so we will have the basics of food, clothing, shelter and the fun stuff we want but do not necessarily need. Delivered all types of weather. Beauty is always in the eye of the beholder. A final gift to yourself is to live in the area of the country you want to live in. It will make you work life more enjoyable, personal life much happier. Add all of the small things together it can suddenly become a big thing. Life is a journey that happens One Day At A Time, One Decision At A Time, One Choice At A Time Made By Each of Us. Tomorrow is always a New Day, with every prospect of being a happier day if we let it. Wishing You A Very Merry Christmas Sharie   In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Need_To_Reward_Themselves

This Podcast Is Episode Number 0247, And It Will Be About Why Did You Open Your Construction Contractor Company What is that old saying? “It Is Always Greener On The Other Side Of The Road”(author unknown) It is always easier to look in hindsight and think “I should have done this” or “I could have done that” All the advice from others about what you should of, could of, did do didn’t do is easy for the person who did not actually make any of the decisions. Some people excel at “Advising Not Actually Doing.” You can’t change yesterday; only do a review and think about What Can I Do Today? And How Can I have a better tomorrow? Tiny changes can make a big difference. You can FIX SOMETHING and do nothing is a decision. (Sometimes taking a pause is the right decision to make) The answer is Think, Plan, Do Something (Make a Plan, Work the Plan) or (Be, Do, Have). Sound familiar from listening to any of the sales messages and webinars from the famous sales organizations of 70’s, 80’s or 90’s. Anyone who has had a sales position and paid on commission knows it is never as easy as the sales manager said it would be. Very few people become successful with little or no effort. For the rest of us, it takes work.     However, some things are very basic and never change. Want to lose weight? Doctors answer is three very simple things to do and they don’t cost a lot of money. The Doctor’s answer never changes.   Step 1:  Eat Less   Step 2:  Exercise More   Step 3:  Repeat.   Why did you decide to become a Construction Contractor? Fast Money Easy Work Few Hours Yes, Contractors can make a Lot of Money as a Construction Contractor. Fast is a relative term. Definition of Fast Money Collecting a job deposit is designed to Lock down the job, buy material. It is always a good idea to use your client's money to start the job. That doesn’t mean you have money to Party Hearty, buy a bunch of tools or that brand new truck you want. In other words, spend the money as fast as it comes in.     With normal business expenses, the money will fly out of the checkbooks without any extra help.   If you spend your job deposits in this manner, you get into a cycle of “Borrow from Peter to pay Paul.” (author unknown) A favorite phrase of the 60’s and 70’s. Older country music fans will remember Merle Haggard’s If We Make It Through December.  https://www.youtube.com/watch?v=U9TByT3QlWc What do I mean? When you use the next job deposit to pay for the expenses of from the last job that is a slippery slope to financial disaster. Another common phrase is “Leverage Is Great Until The Stick Breaks.” Or the child’s game of musical chairs.   When the music stops, someone is without a chair. The same thing happens when the economy turns as it did in 2008. Contractors were thinking (and hoping) the recession would be a small dip and everything would be back to normal by summer of 2009. That is not what happened for most construction contractors. Some construction contractors had lots of work in the pipeline that was not affected by the recession. Many of them were cocky and thought other contractors are having a hard time “Just didn’t know how to run a business” Unfortunately, those same contractors were hurt badly when their pipeline of jobs ran out. Definition of Easy Work Easy work is any job that you know how to do easily. To a chef, Thanksgiving Dinner for twenty or more is a simple task. To a college student living in a dorm, shared apartment it might be an impossible task. Easy work for a highly skilled craftsman picking up a piece of wood and working with it. We went to the fair and saw the wood carvers. The skills the Woodcarvers used to make a recognizable object using a chainsaw is amazing. Truly a case where people can watch them work for hours seeing the magic. Definition of a Few Hours Yes, Construction Contractors can work a few hours every day. Usually, it is working any twelve hours or more any day of the week. It is only a Few Hours to:   Talk The Call Schedule The Appointment, Meet The Customer, Create The Bid, Present The Bid, Collect The Deposit, Schedule The Work, Make A Material List, Pick Up The Material, Coordinate Any Employees Go To The Homeowners House, Rental, Job Site. Now You Can Begin The Job Think, Plan, Do The Work. Watch out for children and pets. Answer Homeowners Questions. Be Polite and do Small Talk as Needed Keep working at a pace that makes up for any time spent watching out for children, pets, and chatting with the Homeowner. The Homeowner expects work to be completed on time or ahead of schedule no matter how many interruptions you or your employees have.   End of the day – Clean up the job site, so it is ready for use this evening or clean and ready for work tomorrow.  Pick up all your tools and material (mobilize and demobilize) Meet with the homeowner to discuss rest of the project. Assure them all is going well. Make notes of possible change orders or add-ons. Do not forget to price out change orders. Homeowner’s memory is much better at remembering when you say you will reduce the price. Without something agreed to in writing – the extra money they owe you is easily forgotten. The increase in scope is never forgotten. You Promised To Do [fill in the blank]. If you think any of the changes are forgotten, wait, you will hear the sounds of a grownup who is impersonating a preschooler wanting a cookie. Water on the stone is an understatement.   We have not even got started on all the rest of the little things that become automatic for Contractors. Get Fuel for the Vehicle Check The Weather Clean The Truck or Van Make a Dump Run Do More Planning Next is the paperwork side of all jobs. Where are the receipts? How do you know if you made any money? Like most Construction Contractors; you feel like you are waving the money as it goes by. Rest Assured It is true in Washington State – where Contractors are collecting and paying sales tax. The tax money is just moving through the checking account. Borrowing State and Federal tax money are very bad.   The same applies to Payroll Taxes except the company must do a company match for Social Security and Medicare (combined is 7.65% of gross wages) Plus State Unemployment Insurance, State Worker’s Compensation, Contractors License, Contractors Liability Insurance, Bond, Other Specialty Licenses. The business of being in business as a Construction Contractors is a lot of paperwork to keep track of, government forms to fill out and file, pay taxes. Do I need to get a permit for this job? Is only one piece!   Financials are important to file Annual Federal Taxes. It matters if you are a Sole Prop. LLC or S-Corp. The Individual Reports are for the benefit of the Construction Contractor. Are you making money? Which job? – Did you like that particular type job? Do you go into any job knowing it was just barely going to break even?   Are you passing out business cards or flyers to the neighbors of your current or past jobs? Are driving long distances between jobs? It is okay to do a job at cost as a favor for your best friend, family, the little old lady down the street as long as you plan for it, willing and able to cover any overages. The catch is knowing in advance. It is too easy for Construction Contractors to be not Profitable. Contractors can easily forget the cost of overhead. Costs of running a Construction Company is more than Labor, Material, Subcontractor, Permits, and Dump Runs.     Money makes the world go round. It is hard to buy gas or groceries with a Hope and a Promise.   Hint: Even Barter Organizations want “real money” for their fees. It is NOT unreasonable to expect to be paid for your work.     Contractors bring value to everyone’s life they touch.   Wishing you and yours the best in everything that comes your way! Sharie In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Why_Did_You_Open_Your_Construction_Contractor_Company

This Podcast Is Episode Number 0246, And It Will Be About Business Systems: Your Guide To Nine Small Business Trends Today's Podcast Is Based On A Guest Article From Betty Moore Great can be the Level of our returns when we are informed on various trends needed to structurally run any business size. From the biggest commodity to the smallest, biggest service providers to the smallest. Every successful entrepreneur can testify that these trends are inevitable tools for a constant and successful business growth. So, here are nine small business trends which you may want to apply to your business. Building your own construction company easily. Learn from experts! Building your customer base: This is very important for any small scale business to grow. This can be achieved through various advertising means. Find out what it takes to get your product out there and, known to the targeted audience. Then, the next is managing your customers. This includes getting a tool which will merge both offline and online customers to maximize profit. Social media is a very good idea. Most small businesses want to get on internet advertising. Not Just internet sources but, rather telephone sources can also be merged. Distance Or Remote Workers: A force in business which has been so effective in today’s world is the creation and the flexibility of remote workers. This is in relation to the fact that flexible environment of work create an increase in productivity. Young talented employees can be sorted to work from home or online position for the division of labor and enhancement of productivity, this help in the delivery services or product to the public. Personnel Training As manager of a small business venture, It is more productive to build your team. Until the team becomes an expert, training should not be under looked. This is a smart investment to starting your team, teaching them, educating them. It’s smart to start investing on training programs, in training your young talents today. Millennial team members want to develop. As a small business, development is crucial. We cannot afford not to grow. Training promising talents is the company’s future. This means that a budget should be made on this aspect as regards personnel training. Digital Stores Creating a wonderful website with all accessible products and services of the company should be put in place to meet demand of the consumers. Of course, business with rich website content always attracts buyers. This is an important tool for every small business that need to increase its sales, a functioning website, fully operated and controlled by the service team. Also, it should include an efficient payment method to allow customers pay for goods and services without stress. 24/7 Customer Care With an increasing demand on goods and services, small businesses should be able to cater for customer’s need. It will maintain the company’s customer base if customers are treated with value, support, and attention. Little businesses seeking to grow into multi-national giant must keep up with customer service. This is should be reachable at all time. Continuous Research A continuous Product research is ideal for quantitative and qualitative delivery of goods or service. Every upcoming business must create or set out a budget for better research team workers. With our research team, we are able to reduce cost and increase productivity. Location Marketing: Location marketing is a type of marketing system that uses phone location to reach out to the available customers. Sends information on available services and goods in a given location. This is unique in product advertisement. Customers become aware of your product simply be mobile phone SMS services. As people become aware, your product or service is brought to their notice. Small businesses should take opportunity of this trend, buy into it and use it efficiently. Big companies use this medium of advertisement to tap into stream of customers without no effort at all. All small businesses as well must use the strategy as well if top sales and profit must be reached. Nevertheless, there must be adequate budget towards it. Computer Engineering Data management, applications, program, website creation all these and much more are related to computer engineering. A lot of software development is done overseas these days, but the need for high-level computer experts able to tie systems together is still strong. We are looking for Software services which are cheap and efficient to run our businesses. In finance and investing, for instance, high-speed computing is increasingly a prime competitive advantage. And most big companies will need networks that are faster, more seamless, and more secure. This will help them to be ahead of their competitors. To grow a business, tools like internet marketing and promotion are needed, the backbone for all of this is computer engineering. CONCLUSION: These trends are inevitable if success is the truly the aim in business. We need not to only implement these trends but also maximize its potentials. Can we truly maximize sales with these? Can we fully implement these trends with low income budget? What advantages can we have over other business if we fully implement?  Leave a comment on what you think.. About The Author: Betty Moore is a content writer and Gp tutor for students. She specializes in topics about education, writing, blogging and likes to share knowledge and ideas with people in her publications. Connect with her on Facebook or Twitter. Message From The Editor Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Business_Systems_Your_Guide_to_9_Small_Business_Trends

This Podcast Is Episode Number 0245, And It Will Be About Unique Secrets To Starting A Highly Profitable Handyman Company  Basics of Starting Your Handyman Company Sometimes it hard to know where to begin when starting any Construction Company including a Handyman Company. First Place to decide what type of contracting business do you want to start. For many contractors, the Place To Begin is to choose to be a handyman. Why do I suggest a Handyman? No one expects a Handyman to have the skills of a High-End Finish Carpenter. It will give you an opportunity to try many things. Learn how to make simple repairs. Determine what you like to do and learn the skills associated with that trade. Many states have a basic license for the Handyman. The best place to learn about starting up and operating a highly profitable Handyman Company is Dan Perry Handyman Startup. Here is a link to his online course that is only open twice a year. Get on the list. The next steps are all about Company Structure. We recommend being an S-Corp because it has several benefits over any other structure like LLC, C-Corp, and Partnership. Many Tax Accountants And Lawyers Suggest Setting Up Your Company As An LLC They like it because it is simple and cheap to set up in the beginning and they do not care how much you will be overpaying on your Income Tax! In most cases, they will set up your Handyman Company to be taxed as a Sole Proprietor, which means you will pay payroll taxes on all the net profit. In the first year in business, this might be almost nothing. The problem is that a Handyman Company Owners and Construction Contractors never go into business with the idea of NOT MAKING A PROFIT. The difference between a Not Profitable Company and a Profitable Construction Company can be a few jobs that went well and paid before the end of the year.   You cannot go back to the IRS and say – I changed my mind, and now I want to be treated as an S-Corp for this year because I made a profit. It doesn’t work that way. For an LLC – forms must be filled out early in the new year for that year and can be treated as an S-Corp every year going forward.   When a Handyman Company Owner or a Construction Contractor chooses to be an S-Corp in the beginning, then no one gets confused on what you expect. An S-Corp is always treated as an S-Corp. Just a quick heads up; Corporate Officers must take a reasonable salary (W-2 income) and the balance either as dividends or invests it in retirement accounts. It defeats the purpose to be in business if a Corporate Officer takes payroll for every dollar taken out of the company. If you want to be paid like a regular employee, then save yourself a headache and be an employee for someone else. Being in business is full of challenges, some fun, and others not so much fun. Decisions are made every day (many days it feels like every minute of every day). As the Owner, there is no one to tell you what you supposed to do or what you have to do. Of course, there are nasty letters, phone calls, or fines and penalties when do you not pay what you are supposed to pay by the due date. When choosing a name for your Handyman or Construction Company, I recommend that the Corporate Identify is more general and not an exact match to the Trade Name you may be using.  Why – because as an S-Corporation you can evolve and change what you do and keep the same Corporate Structure. We started out as Construction Contractors, at one time we were General Contractors and at some point changed to being predominately a Specialty Trade Contractor. Individual changes within that space, we worked New Construction, Remodel, Service, and Repair - all of which were slightly different.   Employees that were fantastic in New Construction did not do well in Residential Remodel projects, or Commercial Tenant Improvement (TI) Projects and Vice versa. An entirely different group of employees loved service and repair but were clueless when it came to New Construction for Residential Remodel or TI Projects. We have been Construction Accountants for many years now but remember each of the phases of our own career. From permits, sitting for inspections, wearing a hard hat, buying safety glasses by the case, and a zillion and one other OSHA and safety items. We have not forgotten what it is like on your side of the world, in the trenches, doing the work that needs to be done in the mud, the blood, the sweat and the tears.   The next step in your business search is where do you want to do business?  My recommendation is to have an office, warehouse, mailing address away from home. Your home is your castle, and you need to put Family First. The last thing you need is a drunken employee or customer showing up on Saturday night to talk about what they don't like about you or your company. As a contractor, you can handle anything and everything. But you need to have the peace of mind that no one is calling or dropping by your house to leave or pick up a check, discuss the job (good or bad) after a few beers. In my opinion, this also includes employees.   It sounds cost effective to have your shop in the garage or basement. Not so nice if those same employees do not respect your personal space and go wandering in your bedrooms, family rooms, kitchen and anywhere else they please. Get a business address. Nothing is so important that you can’t handle during the day or to meet someone away from home and family. I strongly recommend you do this before you set up your business. This will limit the number of places your home address is listed. Government Agencies can find you for behind the scenes you and your company are tied together (and somewhere that will include your home address) What you are limiting is the number of places your home address is in public view for everyone to see and drop by unannounced.    Tracking The Money In and Out Set up more than one bank account. Limit the amount of money in the account with a debit card. If the Debit Card is lost – all the money in the account is a lot no matter who you are. Setup business checking accounts (even if you are a sole prop) and pay business expenses out of business checking accounts.   Lend your Handyman Company money as needed. With a good Construction Accounting System that money will be tracked. You can pay yourself back. Without a good Construction Accounting System then it is too easy for the money to appear as income and therefore taxable.   Many Construction Contractors pull money out of the company only to determine they needed to put the funds back into the Construction Company to pay bills or purchase material to do the next project.  Designate personal credit cards for business and try to never use them for personal. This again helps isolate business from personal expenses.  In the end – Did you make a profit? Did you remember to show all your expenses in your Construction Accounting?   Many expenses that were personal now are a business expense (vehicle, cell phone, etc.) Did you collect all the money due to you?   Are you using an Estimating Program? Did you get signed Change Orders? Are you using Online Invoicing? Did you get a signed Contract?    Do you accept Credit Cards?   It is all about the three O’s. Who Owes you money? Who do you Owe money? What do you Own? Everyone started out as a New Construction Contractor – Your challenges are not new.   Do you have any money left over to do what you want to do?   Wishing you the best as the Holiday Season approaches.   Sharie In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_Secrets_To_Starting_A_Highly_Profitable_Handyman_Company

This Podcast Is Episode Number 0244, And It Will Be About What To Ask An Accountant When Meeting One For The First Time Today's Guest Article Is From Karen Watson Professional Bookkeeper Currently Works At Balancing Books Bookkeeping ----------------------------------------------------------------------------------------------- "Running a business is a piece of cake” – said no one ever. Achieving success requires you to study a lot of things. Assuming that time and effort is needed is an understatement. Running a business covers a lot of areas such as product, price, promotion, and place. Accounting is another essential part of the business. It’s a system that keeps your finances in top shape. After all, building a business is about earning assets, not increasing liabilities. If the specifics of accounting isn’t your forte, then hiring an accountant is a good option for you. However, deciding to acquire accounting services is not cheap. You need to know if the services offered are worth every penny. If it’s your first time to hire an accountant for your business, you probably have little to no idea of what to expect. As a rule of thumb, once you’ve scheduled a meeting with an accountant, it’s best to prepare several questions for him or her. In this way, you can establish a professional long-term relationship with each other. At the same time, be able to understand each other’s expectations. Here are some questions to help you warm up conversations when meeting an accountant for the first time: 1. “What’s the best way to contact you and how often should we meet?” Some business owners are hesitant to hire an accountant because some of them seem to disappear after a few months of getting paid. To prevent this from happening, here are tips: Discuss methods of communication and work schedule with your accountant. Take time to schedule appointments, through Skype or other channels, so both of you can clear out your schedules. Use your initial meeting to decide if you’re going to meet weekly, monthly or bimonthly. 2. “How much do you charge?” Know precisely how much hiring an accountant will cost you on your first meeting. Include any fees to be paid for your accountant to budget your expenses properly. Keep in mind that not all accountants charge the same price. Some require a set fee, while some are charged per hour. 3. “How can you help me during tax season?” Educate the accountant of the current status of your business—where you’re at, what your available resources are, and what your plans are in reaching your long-term goals. Ask the accountant what he or she could contribute to the business, especially during the tax season. Your accountant should update you of new tax laws which you can maximize. 4. “What extent of changes should I inform you?” As much as you want your business to be planned out, there will be instances when you’re required to make quick decisions. Discuss things that your accountant should and shouldn’t know. For example, if you’re planning to expand your business to another location in the coming months, inform your accountant about this beforehand. If you think that your decision will involve business’ financial resources, the accountant should be informed about it. The earlier you inform him or her about it, the more time you both have to plan out for the possible consequences. 5. “How can you help me improve my business’ financial health?” Accountants can do more than just computing losses and doing your tax. Again, you’re paying for their service to make sure that you put all their skills to good use. As experts in financial situations, you can ask your accountant to create a financial plan for your business. Since accountants are professionals in the field, your plan will be more accurate and likely to be error-free. 6. “Am I making basic accounting mistakes?” It’s a right decision that you hired an accountant during the earliest stages of your business. You’ll now have someone to professionally assess the things you’re doing and tweak areas which need improvement. You might already have a plan, but their contribution in your business’ financial aspect is still essential. 7. “What is my break-even point?” You might have enrolled yourself in some accounting courses in the past, but for sure, you’re not an expert in calculating your business’ break-even point. Hiring an accountant will make it easier for you to determine if your business is making a profit or loss. Once you have this information, you’ll be able to know the amount of time and products you need to cover costs, thereby, giving you more precise ideas on how to gain profit over time. In Conclusion Hiring an accountant to work hand in hand with you for your business will entail expenses. However, not having one might cost you even more. You’re not an expert in business accounting side so why take the risk? Your accountant will do a lot of things for your business, and he or she will be a huge help for your long-term success. The first step in getting there is to communicate how you want to be assisted. So what questions do you have for your accountant? About The Author: Karen Watson Karen is a professional bookkeeper who loves numbers and her job. She currently works for Balancing Books Bookkeeping and enjoys helping her clients. In her spare time, she spends time with her husband traveling and loves to read. I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_What_To_Ask_An_Accountant_When_Meeting_One_For_The_First_Time

This Podcast Is Episode Number 0243, And It Will Be About Highly Profitable Contractors Continually Improve Their Processes Successful Contractors Improve Processes All Year Long As the end of the year approaches it is time to see about loose ends in paperwork and forms. Ask employees to review their taxes withheld to date. Do they want to make any adjustments for this year? Every Contractor Wants To Avoid Fines, Penalties And Overpaying Taxes Review your Cash On Hand. Do want to make any new purchases of tools or equipment before the end of the year?  Can you get financing (example six months same as cash)? Check out Paypal Credit offers. From now to the end of the year it will seem like almost everything you could want will be on sale Fun Stuff is upgrading your phone. Fun Stuff is adding new apps to your new phone. Fun Stuff is being familiar with your existing office equipment.   Change that happens with all the new Fun Stuff may come with some challenges Learning how to use the new app that looked so easy in the description. Need to transfer all your existing contacts to the new cell phone. Latest software update causes your office equipment or favorite software to no longer work properly. Challenges for everyone is the effects of the data breaches the last couple of years.   Businesses are adding additional security features. Some of them can be quite annoying and frustrating to deal with so let’s avoid them when we can.   Saved passwords and bookmarks on your commonly used sites are no longer saved. Security key needed to be received and entered before you can access accounts. Stronger Passwords required which are longer and more complicated. Additional security questions before you can log in. Passwords that need to be changed every 90 days. Software that requires a Static IP Address. Need to add compatibility mode for access. Multiple Login Screens with passwords. Enhanced Anti-Virus Software. Enhanced Firewalls. Owning and operating a Construction Company means you are continually balancing the need for good equipment and software against the money you have available to spend. New technology is fantastic. New technology always is a combination of Features and Benefits versus the Cause and Effect of implementing and learning how to use it. For all research done ahead of time; nothing is very seldom 100% smooth in the process. Which is why we always recommend doing one tiny change at a time. Recently we upgraded several computers in our office and discovered that Windows 10 Pro does not like and will not work with several of our older printers and scanners. Cause and Effect, we needed to add to the project new scanners and printers. Because we expected this might happen; it was not a crisis.   We want to know what software is working for you. If there is something better out there, we want to be using it too. Software changes and has updates on a regular basis. Over the years some of our favorite software has made improvements that have not always been improvements. Sometimes the next update fixes the fixes. We are always looking for ways to improve and pass on any tips we have learned.    The old saying “Beauty is in the eye of the beholder” (author unknown) really applies to software, technology, tools, and equipment.   Every Construction Contractor has his or her favorite brand of tools. It may be one brand for this and a different brand for that. Whether it is the vehicle, size, make or model to the smallest tool in the tool bag everyone has their favorite. The tool fits in your hand just right and is easy to use. When You Are Deciding To Buy Tools And Equipment Factor In The Economic Costs With The Purchase Price And What Ten Minutes A Day Wasted Costs Your Contracting Company This week has been our traditional Seattle RAIN plus lots of wind gusts. The way your Truck or Van feels when you are driving is just right (in good weather or bad) your seat is comfortable, with nice heating and air conditioning.   To a short person (that might be me) being able to drive without a pillow on the freeway is a big deal. In response to all the Short Jokes – I am taller on the phone. We embrace processes, in the middle, there might be loud murmurs coming from the individual offices as we learn, adapt and make new, old, existing software, tools, and equipment work.   We constantly look for improvements that will help us help you. We welcome Guest Posts because we also learn new things from our guests. Randal is a Guest Speaker on Podcasts for others offering services to Construction Contractors   Construction Contractors everywhere have many of the same issues. Creating invoices, being sure to charge for change orders, collect the money, pay the bills, do it again.   Change comes from having an understanding of what QuickBooks Job Costing reports mean. Good accounting reports tell us if we made any money as a whole. Better reports will tell us which client was more profitable. How Much Time was spent on the job or individual task? Sort out the Clients from Customers. (Is it important?) Who is your Best Customer and Why? (Do you care?) Only you can decide How Much Information is Enough to run your business effectively? How Much Information is Too Much information or is it just loose data and not helpful? There is always the balance, and we make recommendations on what is easy to obtain without stress. The most basic information ever needed is what your Tax Accountant needs to do your annual Taxes.   If you pay company expenses with personal money and never tell your Bookkeeper or your Tax Accountant, you may pay higher income tax because the IRS always gets paid exactly the amount due based on the forms provided. In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs.   Enjoy your day. https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Highly_Profitable_Contractors_Continually_Improve_Their_Processes

This Podcast Is Episode Number 0242, And It Will Be About How Can Cause and Effect Analysis Help You Solve Business Problems Today's Guest Article Is From Lori Wade Content Writer And Career Specialist For College Students  ----------------------------------------------------------------- Problems happen in any business. When it comes to small businesses, about two-thirds of them actually survive 2 years, half of them survive 5 years, and only one-third survives 10, according to data provided by Fundera website. The statistics for large businesses is probably as saddening as this one. The problems are what causes businesses to fail. At the same time, fearing problems is not the way out. Instead, business owners need to learn from them as well as learn how to solve them. The challenge lies in how do you solve them. There are plenty of people, who start brainstorming all the possible solutions - and do it until it’s too late. While brainstorming can work for many, it needs to be followed by actions in order to deliver the result. But if you were told that it’s possible to find a quick and effective solution using a certain methodology, would you prefer it to brainstorming? If the answer is «yes», you should try cause and effect analysis, also known as a Fishbone Diagram. Why is a Fishbone Diagram effective? In order to find a solution to a certain problem, you need to analyze it thoroughly, identifying all the causes that led to a certain situation and trying to build a solution for each of the cause and for the problem in general. Using a diagram not only requires you to come up with a list of these causes - it also helps you to visualize the situation better, seeing it as a whole and noticing all the weak spots. It also allows breaking big problems into smaller ones, solving them bit by bit. On top of that, it enables creative thinking, which is a great skill to build and strengthen. How is a Fishbone Diagram used? 1. Identify the problem. What is the problem you’re facing? Identify it in details, not only briefly describing the problem but also outlining the situation in general, possible reasons and consequences, departments or employees who are either responsible for the problem or for its solution. You might be facing a couple of problems at the moment. If these problems are a part of a bigger one, describe this biggest problem. If they aren’t, use a different diagram for each problem. Once a problem is defined, place it in the «head» of a Fishbone Diagram. 2. Identify the causes of the problem. Now it’s time to add some «bones» to the «head». Ask yourself or (and) your team, what exactly did cause this problem to appear? Maybe it’s the people that did something wrong. Maybe your business processes didn’t go well. Maybe you received a bad supply or experienced a malfunctioning of a sort. Maybe it’s the finances. Find all the reasons that can be there, but be sure to focus on the main ones only. Once you do so, add them to your Fishbone Diagram. 3. Identify the smaller causes. Now when you have the main causes of the problem, you probably can divide them into smaller ones (assuming you aimed for the big reasons from the start). Why did each of the causes happen in the first place? For example, you produce something - and your last products didn’t sell well enough. One of the causes is a poor promotion. You can come up with the following sub-causes for this case: not enough people responsible for promotion; not enough investments into the promotional process; the marketing team did something wrong; the design and the description of the product didn’t impress the target audience and so the promotion failed; and so on. Or you can come up with the totally different sub-causes. But once you do, add them to your Fishbone Diagram like shown below: Now you have the whole picture ahead of you. If you did everything right, you also see it in details, easily spotting all the possible causes of the problem you’re facing. You might feel uneasy seeing so many causes, but it’s a good thing. When it comes to business, small or large one, there’s rarely only one cause behind the problem. After a Fishbone Diagram is complete, analyze it thoroughly. Pay attention to each cause, identifying the main ones and the less important ones. Take some time, considering the options you have - and then come up with a solution plan. This plan should include ways to eliminate all the causes behind the problem as well as ways to prevent them in the future. Hopefully, this diagram will help you effectively find the solutions to all the problems your business might face and to react to them quickly, eliminating these problems. About The Author: Lori Wade is the content writer and a career specialist for college students. She is a content marketer, sharing experience on writing, education, and self-development in her publications, for example, https://eliteessaywriters.com/blog/cause-and-effect-essay-topics/. Connect with her on Facebook and follow her on Twitter.    I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_How_Can_Cause_and_Effect_Analysis_Help_You_Solve_Business_Problem

This Podcast Is Episode Number 0241, And It Will Be About Unique Highly Profitable Contractors Use Job Costing And Financial Reports  Successful Contractors Find Keys To Growth And Profit In Their Accounting Halloween is the official Kickoff of the Holiday Season. Kids dress up as anything from Princesses to Pirates and every TV character in between. Time of smiles, giggles and lots of “pixie dust” and “magic wands.” Time for “Santa and his reindeer” to visit the malls with a fresh supply of Cookies and Candy.   Wait, let's not forget Thanksgiving with Turkey, Dressing, Yams, Mashed Potatoes, Gravy, Fruit Salad, Pumpkin Pie, Ice Cream and lots of Egg Nog. All of this leads to us in January wishing we ate less and exercised more in hopes to keep the pounds on and matched by the pounds off for a net gain of Zero.     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?   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"  -  Click here to learn more about zlien, The Mechanics Lien & Construction Payment Platform. ____________________ 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 and pricing 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!   About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_Highly_Profitable_Contractors_Use_Job_Costing_And_Financia

  This Podcast Is Episode Number 0240 And It Will Be About Construction Accounting Secrets For New Contractors Construction Accounting Basics For Construction Contractors Construction Accounting is not a natural mindset for Construction Contractors. Construction Accounting has own language. Regular Accounting the language is Income Minus Expenses Equals Net Profit. Construction Accounting is Income Minus Cost of Goods Minus Overhead Equals Net Profit. That simple little thing called Cost of Goods Sold is the primary difference between Regular Accounting and Construction Accounting. Understanding that difference and how it relates to Job Costing and Job Profitability can get contractors like you firmly on the road to financial freedom. Then comes Construction Accounting. Income is added up to have Total Income. Cost of Goods Sold included more than the cost of material. Total Income less Total of Cost of Goods Sold equals Gross Profit.   Expenses include a variety of overhead related items. Gross Profit less Total Expenses equals Net Ordinary Income.   Net Ordinary Income Plus Other Income and Less Other Expenses equals Net Income. Financial Reports have a lot of information on them. Your tax accountant will calculate the depreciation. When a contractor purchases a small tool, and it is an expense. What determines whether a tool is an asset or expense is the cost of the tool (not its size of the tool or piece of equipment) Any tool or equipment that costs less than Five Hundred Dollars is considered an expense. The Internal Revenue Service expects that it will last less than one year and not repairable or the cost of purchasing a new tool will be less than the cost to repair it most of the time it is not feasible to repair. These days it is hard to find anyone who can do repairs on small tools. The neighborhood hardware store is usually a True Value Hardware or Ace Hardware. I can only think of a few larger Hardware Store that might send the tool out for repairs. Smaller communities may have repairs as a common option.        As a contractor you may purchase a tiny tool (in size) but huge in price meaning it cost over Five Hundred Dollars.  These type of tools need to be depreciated. Congress approves an accelerated depreciation (Section 179) where most items can be depreciated at a 100% in a single year. This benefits small contractors as the annual threshold is usually higher than they spend on tools and equipment. Each of these larger tools needs to be listed in the Accounting Software (we use QuickBooks Desktop In the Cloud) and we can setup QuickBooks for Contractors in a way that makes it fast and easy for the day to day contractor bookkeeping to get done. Why – Because the Tax Accountant decides on what can group and which tools and equipment need to be itemized individually. The rules differ depending on the item on how much can be depreciated on a single line and which items may have internal caps.   Short Answer - In other words, How many lines and How many pages does it take to get to 100%. If taking all of the depreciation available does not make sense to take it a single year the Tax Accountant may decide to use traditional depreciation rules. Using the thought that if taking 100% of the available depreciation doesn’t help you – don’t waste the depreciation deduction. Spread it out over several years. What is Cost of Goods Sold In Construction Accounting? Contractors often ask us can they buy our Chart of Accounts with Cost of Goods Sold and import them into their QuickBooks Desktop file or their QuickBooks Online file. The answer is yes! Click Here for QuickBooks Desktop Chart of Accounts With Cost of Goods Sold Click Here for QuickBooks Online Chart of Accounts With Cost of Goods Sold Direct Costs are tied to the jobs (field labor, material, and other cost items) Office material (pencils, paper, toner, etc. are overhead) Yes, an Accountant could say these many pencils are used in the field, and that notepad is used in the truck. The answer is the dividing line of what the DIRECT COSTS to the job and those are Cost of goods sold (COGS). Confusion always comes about the material. A Construction Contractor may purchase material and resell it to their customer at cost. Thereby thinking it is a reimbursable expense. (Lose money when doing this).   Remember all invoices to the Customer (Retail, General Contractor, Spec Builder, Developer) is income.  Washington State has a clear explanation. If the words are on the invoice, then the invoice is either taxable or non-taxable based on other factors. Every line item on a customer invoice is All INCOME.   Purchases for the material are Cost Of Goods Sold or are expenses if you are shortcutting your accounting. I have seen financial statements that are backed out because they will reflect reimbursable income as a negative number and thereby show it as a deduction. (Net effect is double dipping on the expense side) The cause is the accounting software like QuickBooks is not properly set up. We fix bad QuickBooks Setup For Construction Contractors.   New Construction Home Building is another area of confusion.   In the mind of many Construction Contractors, a Spec home is any new house that is being built for resale. That is true; it is a New Construction House. The question is on the Construction Accounting side. For the Owner and Developer (who might be the General Contractor running the job) it is a Spec Home. For the General Contractor who is building a New Construction Home for a Developer, it is NOT a Spec Home. Why it might seem the same as both are New Construction Houses. Question to be answered is Who owns the house?  It is a Spec House in the Accounting System for THE OWNER.     If the General Contractor Does Not Own the house then from an accounting side for that specific General Contractor, the house is a Custom Home who has an owner who is Not The General Contractor.   If the General Contractor, Developer who Owns the new House being built then it is a Spec House in the Accounting System. All costs roll up into WIP and covert to COGS when the house is sold not before. Recognize expenses when the house sells. Otherwise, expenses one year; sale the next equals TAXES.    In Washington State, all Construction Contractors working for a Spec Builder need to collect sales tax on all services (labor and material) when billed from the General and Trade Construction Contractors.     In Washington State, all Construction Contractors working on a Custom Home, Residential or Commercial Projects, Large or Small Remodels, Handyman Projects can accept reseller permit from the General Contractor.  Sales Tax is billed and collected from the Owner by the General Contractor.   In Washington State, Contractors need to collect sales tax on all retail project including Labor, Material, Other. Sales tax must be collected on every line item. Customer Discounts can be given for any reason. One quick word about hiring subcontractors. Make sure they are licensed and bonded based on the rules of your state. Review and make sure you are not their only customer. As Construction Contractor, you Do Not Want for any Government Agency (State or Federal) to re-classify them as your employee. Government Agencies share names, and there are Payroll taxes for everyone.   Part of rules, a 1099 Contractor must work for more than one person or company. Get a signed W-9. Internal Revenue wants to have 1099’s issued for everyone who received over six hundred dollars in a single calendar year. If you have employees, Use a payroll service that will electronically file Quarterly and Annual Returns.  Many will also file the 1099’s. Keep your reporting simple and easy. Easier to prove you filed on time. Having an outside Construction Accountant makes meeting the rules as a contractor versus an employee easier. Fast Easy Accounting does the bookkeeping, accounting, payroll and offers business coaching for small, brand new Construction Contractors who are General Contractors, Trade Contractors, and Handyman all across the USA including Alaska and Hawaii. Do the parts that only you can do; leave the rest to us.   You are never too small for us to help and we can help beginning with your first day in business.    Looking forward to being of assistance.   Trick Or Treat – Happy Halloween See you at the Mall – Our Fun Place to watch all the kids from newborns to over xxx (shhh I can’t count that high) filled with the Kids At Heart dressed up in cute, funny costumes. Food Court has the best view. It is one of the few days everyone gets to have fun no matter how old they are the rest of the year.        Enjoy your day.   About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construction_Accounting_Secrets_For_New_Contractors  

This Podcast Is Episode Number 0239 And It Will Be About Essential SEO Tips For Contractors Today's Guest Article Is From Chris Richardson Are you a contractor that is looking to improve their SEO so that you can earn more clients? When it comes to SEO you can always find new ways of doing things in order to improve the quality of the end result, which is to gain higher results in the search engine results pages. This consequently leads to more customers hiring your services as a contractor. Nowadays contractors are responsible for things such as painting, roofing, plumbing and so on. They help homeowners complete the DIY projects that might be too hard for them to tackle on their own. However, getting visibility in the marketplace can be hard for some contractors if they have no idea how to go about advertising themselves. The benefits of SEO for contractors The biggest benefit of good quality SEO for contractors is that a higher number of people in the local area will be able to find out about the contractor. Let’s say that as a contractor in the roofing industry you’re competing with 10 other companies in your local area. If they have poor quality SEO and you don’t then you can easily capture the search engine traffic without much hassle. Nowadays there are a number of features that search engines have added to give businesses exposure for the right search terms. This includes showing where a business is located on the map and their contact details so that potential customers can easily locate them. Top SEO tips for contractors There are various general SEO tips that contractors should already know such as using header tags, alt images and keyword placement, however, as a local business more specific SEO tips are important. First of all have an “About Us” page where information can be pulled by the search engine bot to show up in the results pages. Here information about your company should be entered and also the contact details: a phone number, e-mail address, physical address and so on. On this page you should also include information about what your company does so that the target customer understands the services they’ll hire. Make sure the contact details you enter do work as otherwise you’ll annoy the customer with unreachable contact details. Mobile search is another major thing you need to keep in mind whilst creating your website. A mobile-friendly version should be available so that those looking for your website via a mobile device are able to do so conveniently. Try to get the seal of approval from the Better Business Bureau, as this certification not only gives peace of mind for the customer, but also improves your search rankings. It’s not hard to get this certification if you have indeed setup your company in a legitimate manner. Reviews and ratings will make it into the search result pages and that helps because people are more likely to be interested in a contractor that has a bunch of positive reviews. You can do a number of things to encourage people to leave reviews after they have bought your products. As Martin Abington, from Essay Geeks says: “a local contractor business lives and dies by the nature of the reviews that are left, so ensure you do great work to get those 5 star reviews.” CONCLUSION: Try to implement as many of the SEO tips mentioned in this article if you’re a contractor that’s trying to nail the SEO of their business. If you manage to incorporate these SEO tips correctly then soon enough, you might have more clients looking to hire your services than you can actually handle. Finally, remember that SEO is a long-term on-going process that takes time to come to fruition. SEO constantly changes as the search engine algorithm gets updated regularly. So pay attention to what’s going on in the world of SEO and adapt your strategy accordingly.     I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open     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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Essential_SEO_Tips_For_Contractors

This Podcast Is Episode Number 0228, And It Will Be About Unique Ways Highly Profitable Contractors Reduce Taxes Contractors Reflect On This Year's Results As The Last Quarter Begins Going into the last Quarter of the year. Time for some basic reflection about taxes. Officers in S-Corps tend to take payroll later in the year. Now is the time if you have not already been taking payroll. Don't wait until it is time to prepare your Construction Company tax return. Next review your Estimated personal Taxes paid to the IRS. How much did you pay in taxes for the current year? Internal Revenue expects that you have paid a percentage Federal Taxes before the end of the year.   Reviewing Federal Withholding for yourself and your employees to avoid surprises when your annual taxes are filed. Contractors who file as a Sole Prop or as an LLC fining as a Sole Prop tend to forget that payroll taxes on their net income is due. I call this “Chef’s Surprise” as it is based on Net Income. Everyone wants the last few jobs to pay before the end of the year. As the Sole Prop or 1099 Contractor, the amount due will be both the employer and employee portions (combined is 15.3% + federal income taxes) Refer to your Tax Accountant about the ability to claim the employer portion as a deduction on your taxes. Time for some basic reflection about your bookkeeping methods How are you keeping track of your income and expenses? Do you use software or on a paper system? Many Contractors use Shoeboxes, Cardboard Boxes and paper bags The issue comes when your Banker, Liability Insurance Company, Worker’s Comp Insurance Company, Bonding Company or State Agency or Internal Revenue want reports. I have seen some manual systems that are quite good. I remember the days pre-computer days where I used an oversized 13 Column Pad. It worked, not a great as the multiple ledgers and from there that first version of Quicken was wonderful. Now using QuickBooks which can be customized is fantastic. Being in Washington State where sales tax is destination based – customization is the key to easy reporting.  Other states have different reporting requirements. Additional reflection is needed when multiple partners are involved Is it an active partner or someone who is behind the scenes (investment versus day-to-day activities)?  Is each partner doing what you expect them to do?  There are additional challenges when multiple partners are not actively engaged.  The net profit is divided based on the percentage of ownership. Many times, partners have different visions for the company. Growth Of The Company (How Big, How Fast) How Much Money To Take Out of Company Reinvestment Of Profits Into The Company Should They Add A Vehicle (new or used) What Tools And Equipment To Purchase Compensation For Employees Compensation For Owners Decisions Happen Every Minute For Working Construction Contractors The most frustrating situation happens when one partner is actively working in the day-to-day activities, and the other partner is a “Manager” and is practicing “Seagull Management” but is never there for the day-to-day activities. It is easy to say I’m working on the business.  Reality is that it may not have the same meaning to all partners.  Working on the business is Planning, Marketing, Doing Active Things in the business.  I have heard many stories where One Partner tells the other partner (while managing from afar) You need to be doing [fill in the blank] The sales are not that high you have plenty of time The paperwork is not that much; it will only take you 10 -15 minutes [a week, a month] to do it Or saying “After The Fact: that decisions you made were not the ones I would have made. It is easy for the person Not Doing The Work - to say, we (Meaning YOU) what should or should not have done [fill in the blank]. This happens a lot when partners are not in the same city. Or to say I can’t because you are better at [fill in the blank]. The last thing you need is for someone else to assign you a task to do. As a Construction Contractor, there is no shortage of “tasks to do” in running your Contracting Business.   These sort of challenges is one of the reasons we recommend being an S-Corp. It is easier to have a business relationship with someone that is something other than a 50-50%. It is by EXCEPTION that multiple partners will be equally invested in the company. (Time, Money and Effort). Usually, the Construction Company is weighted with one partner doing more, spending additional hours in the Construction Side of the Work to bring in the money or save on employee hours. Many times, that same partner is asking their spouse to pitch in and do the bookkeeping without pay because it will benefit them in the long run. Then it becomes two people actively working in the business for the financial benefit of one. If spouses are paid on payroll – they are valued. (It can be the gesture more than the money) As an S-Corp owner’s payroll will better reflect activity in the business. Life Happens! If one of the owners is working fewer hours due to personal reasons; there is compensation that can be more easily given to the other working owners above and beyond the net profit of the company. Easier to facilitate a Loan To Shareholder as needed. When you discuss in the beginning, it Saves “White Noise” and “Hard Feelings.” later. Years ago; I read a book that described how one partner was very upfront in saying. Why should I work so hard when I know you will? I can just sit back and get my share of the profits without doing much of anything! (not an exact quote) It was just a story, but a few times when meeting with Construction Partners that attitude has come through. Not all partnerships have problems. I know of several who have been friends and partners for decades. Partners discussed their roles and how to work together. It is awesome! I am always glad to talk to them and catch up. The Rest Of The Year Will Go By Fast Halloween Is Almost Here It Is Time To Review Your Current Year Construction Accounting How are you currently handling your bookkeeping? If you are comfortable Doing It Yourself and just want a little TLC - we can help.  Additional resources are on FastEasyAccount.com (website) and FastEasyAccountingStore.com (store) We accept all major credit cards and PayPal. Also available PayPal credit offers six months same as cash. We Help A Little Or A Lot Depending On Your Needs. Do you want to explore a QuickBooks file cleanup, or discuss Outsourced Accounting? Offer One Hour Free Consulting. Sometimes Contractors use just to vent about business stuff, and for a variety of reasons, all I can do is be the ear on the end of the phone and offer suggestions. Never am I going to be nasty about your bookkeeping no matter how “icky or artistic” you have been. We are here to help with your assistance we can create a file with good reports that are useful to you. Remember your financials are based on the documents you provide in person, electrically, or by using our document management system. Unfortunately, many tools used on Star Trek are still not available. Year-End Planning Tip: As the economy and your cash flow is improving, do you have all the tools and equipment you want or need? If purchases are made before December 31st, it is a deduction for the current year. Looking forward to being of assistance.  About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_Ways_Highly_Profitable_Contractors_Reduce_Taxes

This Podcast Is Episode Number 0237 And It Will Be About Hiring A Construction Bookkeeper Is A Great Investment As a construction business owner, you're likely concerned about every penny you spend. That's a good thing because you need to keep track of your income and expenses. It also means, however, that you might be less likely to hire people who can help your business. People like bookkeepers, who are great investments for any small business.    So what does a construction bookkeeper do? Bookkeepers take care of the daily financial records for your business and make sure your books balance. They create and send invoices, track receipts and reimbursements, reconcile accounts, and prepare specific financial reports. All the frustrating day-to-day financial stuff that you probably dislike they love. Construction bookkeepers are an excellent investment for your small business, for several reasons:   They save you time.   Unless you're great at bookkeeping and enjoy it, you may find bookkeeping a headache. Chances are, you'll put it off until it's a massive chore to take on, then take ten times as long to do it. You'll find it takes you away from other business tasks such as training staff, networking, or marketing your construction company.   The time you spend trying to understand your financials could be better spent on tasks you're good at. A bookkeeper should be more efficient; they won't have as many errors, and in the long run, can save you a lot of stress.    Your time—and your sanity—are worth the cost of a bookkeeper.    They are experts in their field.   Are you up to date on the various tax laws and fully aware of how they affect your business? Bookkeepers are. They can advise you about any changes to the tax laws and what those mean for your business.  Bookkeepers can also provide you with insight into your company's financial situation. If you're overspending in a particular area or need to reallocate funds, your bookkeeper will tell you. If there's something you don't understand about your financial situation, your bookkeeper will explain it to you, so your financial situation isn't a mystery.    They prevent errors.   Because bookkeepers are experts in their field, they won't make the same mistakes you'll make. Those mistakes might seem small at first, but data entry errors, mixing up expenses, and other errors can add up, costing you money.     They help you get paid.   As a construction business owner, you might have so many other tasks that the ones that ensure you get paid—like sending out invoices—fall off the priority list. How many small business owners can say they've never been late sending out an invoice?    Your bookkeeper makes sure your bills are paid on time, and all invoices are sent out promptly. If your invoices aren't paid by their due date, the bookkeeper will be on top of it.  Is there any better investment for your trade business than one that makes sure you get paid for the work you do?   In conclusion   The services a construction bookkeeper provides can help you financially in the long run. They also prevent many headaches and save you valuable time. As a contractor, there's no way you can be an expert in all aspects of running your business. If you don't like bookkeeping or don't have the time or knowledge to do it well, a bookkeeper is a valuable resource and an excellent investment for you.   About The Author: Sharie DeHart, QPAis 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. Call 1-800-361-1770 or [email protected]   OUTSOURCED ACCOUNTING FOR  THE BUSY CONTRACTOR IN A MOBILE ENVIRONMENT   Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast.   Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_How_To_Write_A_Winning_Contractor_Resume

This Podcast Is Episode Number 0236, And It Will Be About Highly Profitable Contractors Control Who Receives Company Information   You Have Ultimate Control On Who Has Or Receives Information About Your Contracting Company Financials statements are based on the information you provided. I know this is not a statement that any contractor wants to hear about their bookkeeping. It is easier to blame the bookkeeper for missing information. The primary keeper of all the documents is you, your spouse, your employees, your suppliers, your bank, your credit card company. The Key work is done by you, or whoever assists you have the power to give information to outsiders about your Construction Company.   Who wants details about your business?   Internal Revenue Service State Revenue Agencies State Payroll Agencies Other State Agencies Worker’s Compensation Provider   General Liability Insurance Provider Depending on the report it may be monthly (sales tax, business excise tax, other state business tax reports) Quarterly reports include all payroll related forms to State and Federal (Internal Revenue). Personal story. If you have any data that you can include relating to your list, include that in your introduction, too./> Some states require Contactors to take a test before receiving Contractors License Depending on your state a Contractor may have to be licensed which can require a Bond and General Liability Insurance. Because the General Liability Insurance is made up of a group of numbers to make up the coverage and premium, there is usually an annual General Liability Insurance Audit and are date specific based on when the coverage was taken out. Your Construction Company Structure determines how simple or how complicated the annual insurance audit it. We can help you with this. Call Sharie 206-361-3950 or email her [email protected] Insurance Audit Questions May Include: Annual sales Owners wages List of employees Employee wages Copies of 941 Quarterly Reports Copies of State Unemployment Reports List of subcontractors Total paid to subcontractor Copies of Subcontractor’s Certificate of Insurance List of names of casual labor Total paid to each casual labor The total amount of Leased or Rented Equipment.   Periodically Your State Unemployment Agency will want details on individual employee’s hours. Form to be filled out is date and period specific and will want the total per week (regular time and overtime) then broken down by day and a weekly total of wages earned, and date wages were paid. In other words; the State Agency is asking for more in more detail to be sure they get the same grand total as other reports and did you pay the proper amount in the time frame required.   Some states and cities have different minimum wage requirements this adds to the tracking required.   In Washington State, we have a state minimum wage, and then several individual cities have an increased minimum wage. In addition to new rules about Family Leave, Sick Leave, and Personal Time Off. Many of these rules are based on the number of employees you have.   Internal Revenue Service Requires You File Annual 1040 Tax Return. Most contractors file their taxes on a calendar year. S-Corps and LLC’s treated as S-Corps annual tax return is due on March 15th with a six-month extension allowed to September 15th.   Numbers From Your Contracting Company Return Move To Your Personal 1040 Tax Return. Personal tax returns with or without Schedule C (additional pages for Sole Prop’s and LLC’s treated as a Sole Prop) are due on April 15th with a six-month extension allowed to October 15th. Reminder the tax return is due in a couple of weeks.   There are many reasons why taxes are not ready for the tax accountant to do the annual taxes. Contractors may feel that they can do it themselves using tax software. My recommendation is to use a Tax Accountant. Laws change all of the time. Assume that every time Congress meets they have done something. Since the average person is too busy and has no way of knowing what amendments are added to any given bill may impact the tax code having a tax accountant is a cost and time effective solution. Tax Accountants Are “Generalists.” What do I mean by “Generalist”? To stay in business, tax accountants have more clients than just contractors. Tax Accountants have to keep on top of all the tax changes that impact all of their clients. Reality is, the tax accountant is more concerned about your bottom line and how it impacts the rest of your life and taxes, not your job costing reports.     Does your spouse work, what and where are all the W-2, interest income, dividend income, health insurance, children, your house, mortgage, property taxes and what other misc. Expenses that might be deductible? Many tax accountants send a packet for their clients to fill out and bring with documents. When a Construction Contractor drops off a box of receipts and bank statements to the tax accountant the Construction Contractor asks: How am I doing? What about [fill in the blank]? Did I make any money on “xyz job”? Tell me about how to improve my business? The tax accountant is going to roll their eyes and seems less than helpful or incompetent. They are not! Knowing about the individual details of Construction Accounting and Job Costing is not a normal skillset of the tax accountant. Depending on the size of the pile to manage whether a tax accountant will use Excel and a Workaround to file the Construction Contractor’s taxes or send you to a bookkeeper to do it.     Our focus is on helping you survive and thrive. When we ask you for documents, it is part of our Contractors Bookkeeping Services System. We have a process where we will do a gentle follow-up. Sometimes the greatest most effective follow-up is done by the State Agencies who want specific reports which when they are not filed promptly will incur late fees and penalties or cancellations. They will call, send certified letters, issue Warrants on Bank Accounts and file Tax Liens all to receive money owed to a government agency. Not someone you want to have your number on speed dial. It is one thing if the over site is lack of money, and another if it is bad paperwork.     Job Costing Is Only Possible when you, the Contractor have put the job name on the receipts, checks and other paperwork directly related to each job. It is unreasonable to expect any bookkeeper to guess which job the costs should be assigned to or interrupt your already busy day with several phone calls to ask for information about a receipt, bill or other paperwork. One Process In Our Bookkeeping System Is "OHIO" Only Handle It Once Proactively writing on the receipt, giving the customer name and address in the Purchase Order field at the supplier will make the bookkeeping process easier on everyone and more importantly it will be the foundation to providing you with Job Costing Reports to help you identify the 20% of jobs and customers that generate 80% of your Cash Flow and Profit. How To Combine The 80/20 Rule With Business Process Management For Your Construction Company The 80-20 Rule Combined With Business Process Management Can Improve Your Life In Ways You Never Dreamed Possible! 20% Of The Construction Companies - Share the Top 80% of the profits which the owners and shareholders use to support lavish lifestyles because they know what to do, when to do it and how to do it! 80% Of The Construction Companies - Share the Bottom 20% of the profits which the owners and shareholders use to support just above or just below average lifestyles because they don't know what to do when to do it or how to do it! Not every Construction Contractor wants to put in the effort for Job Costing, and that is OK. It is Good, Better and Best in all things including Construction Accounting. With processes, every contractor will get value out of their bookkeeping no matter what level of service they require to fit their needs. The most basic accounting provides a Profit & Loss Statement and Balance Sheet on demand for their Tax Accountant to file the taxes. Add personal documents, and the Tax Accountant knows what to do. Basic Construction Bookkeeping is more than hooking up your bank feeds to an Accounting Software and let the software decide what to do with the transactions. All good bookkeeping even for the smallest Construction Contractor is more than balancing your checkbook. Good Construction Accounting provides answers for Construction Contractors from the Brand New Contractor, Handyman, Trade Contractor, General Contractor. Construction Accountants know what to do when they receive the documents. Of course, you need to talk your prospective Construction Accountant and make sure they know Construction Accounting; then decide if it is a good fit for your needs. One example in Construction Accounting there is a difference between Spec and Custom Home. General Contractors sometimes get confused on which they are building as both are the construction of a new home. Construction Accountants are never confused as the accounting is different. In Washington State, it is a huge difference because of the rules about sales tax. When a contractor must charge sales tax on their invoice or if they accept a resale certificate. All retail sales to homeowners and Spec Builders are subject to sales tax. Years Ago My Mentor Told Me: “Little Leaks Sink A Big Ship" Four Leaks That Bankrupt Construction Contractors Not charging and collecting Sales Tax is a 10% leak.   Not Charging and collecting for Change Orders could be a bigger leak.   Improperly applying payments (where it appears as a credit in QuickBooks) is another leak.   With enough leaks, there is no money left for the fun stuff you want to do in your life. Change is easier when doing one little thing, then another, then another. Trying to change everything all at once is overwhelming. Many times change easier for a smaller company because they are small.     Number one question from smaller contractors is “I am just me, or it is just me, and I only have one or two employees” Am I too small to help and use the services of a Contraction Bookkeeper? My Answer: A Company of One – is not too small! The Company of One with Dog and Pickup Truck is not too small. Construction Contractor without any employees is not too small. Construction Contractor with less than five employees is not too small. Construction Contractor with more than 15-20 employees may be too big to not have an in-house admin   From Brand New Contractor, Weekend Warrior, Handyman, Trade Contractor to General Contractor with or without employees we are here to help.        About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Highly_Profitable_Contractors_Control_Who_Receives_Company_Inform

This Podcast Is Episode Number 0235 And It Will Be About Key Reports For Your Contracting Company Explained QuickBooks has over a hundred reports that can be viewed on a regular basis You could spend all of your time seeing a report in QuickBooks and trying to find the way to populate numbers in the report. Many reports are designed for specific things. Take for example the view of the Home Page. Just because the feature is on the Home Page in QuickBooks does not mean it is useful for every contractor. Five Key Performance Indicators Every Construction Company Needs To Survive And Thrive! It is not practical or recommended for the Small Contractor or Handyman to track inventory. For most contractors, the material goes from the supplier directly to the job which is not the definition of inventory. Inventory is what goes into the warehouse and stays, and stays and stays. Most contractors do not have the money to invest in inventory. Your supplier is just down the street.  They have on-demand inventory – what you need when you need it.   Plumbers, Electricians, and HVAC Contractors tend to have a certain amount of inventory, and it is better to do a physical inventory a couple of times a year. (End of year and maybe mid-point of the year and enter as bulk numbers) There are specialty programs that are an add-on to QuickBooks for those larger companies who need to track inventory. Most inventory programs only work with QuickBooks Enterprise. Trying to keep track of each item in the job can be overwhelming and not practical for smaller jobs. If it is a Cost+ or Time and Material job then be sure you only purchase what you need and assign that receipt to that specific job.      Five Key Performance Indicator Reports that are useful to every contractor regardless of their size. #1 Cash How much cash is in the bank. Why because you have bills to pay, material to purchase and upcoming expenses.   #2 Accounts Receivable How much work have I completed and billed the customer? Contractors get confused and think that the signed contract is for “X Amount” and therefore they have that much coming before the job starts.   Accounts Receivable is for completed work that you bill your customer or client. In other words, how much can you expect to pick up a check for today? From someone doing their accounting, it seems simpler to create an invoice for the whole job and then takes payments on it. The problem is that the balance is aging nicely and give a false impression of the company’s financial position. Add the time it takes to determine what is owed to you. After a short while, QuickBooks becomes a real MESS. Then your banker asks for financials, and you are trying to explain to the Banker that your Accounts Receivable includes work not started or completed. Bankers want to know How Much Money can you expect to collect today!           #3 Accounts Payable What bills do I have coming up? Accounts Payable is where you track all your supplier invoices, match against the month end statement and your subcontractor bills. It is not the place to track your monthly payments to your credit cards, your payroll or other tax payments to State and Federal Agencies. These items are in other places as liabilities in your QuickBooks file. Please Note: All transactions on your credit cards need to be entered into QuickBooks (not just the month in balance with payment due).   #4 Profit and Loss Profit and Loss are keeping track of your income and expenses and will reflect the Gross Profit and Net Profit of the business. This report is date specific. Please Note: Expenses are broken down between the Cost of Goods Sold (direct costs to jobs) and Expenses (which tend to be overhead related). QuickBooks by default is on the accrual method. Reports are converted to the Cash Method for Sales Tax and Federal and State Income Tax Reports. #5 Balance Sheet The Balance Sheet is tracking the overall health of the company. Assets include Cash, Accounts Receivable, Undeposited Funds and Inventory. Yes – the Government treats those piles, boxes, and pallets of unsold material as an asset.  (Which increases profit). Unless you are have magical skills, it is impossible to trade that box of treasures for a tank of gas, lunch, bag of groceries. Having a good relationship with your suppliers is key. Good suppliers will encourage the return of material.  Even with a restocking charge – Cash is more useful.   Liabilities is tracking the amount that is due to others. Short term is Accounts Payable and Credit Cards. Long-term is your Truck Loan, Equipment Loan, Loans to yourself or others.   Please Note: Track all money you lend to your company. You cannot get it back out without it being considered income unless you document you put it into the company. Startup costs by nature are funds lent to the business because unless a contractor has been doing “side work” the business did not have any income before it began to cover the initial costs of setting up your contracting company.   Equity is the value you have into the company. The net difference Assets – Liabilities = Equity. I recommend you take as little as possible out of the company. It is designed to grow and take care of your needs. Think company first.  Many expenses are company expenses that as an individual you were paying personally. It is much easier for the company to pay for all business expenses. Your tax accountant can easily review and assign a percentage that may be personal. (This is better than the mad scramble of finding missing receipts at tax time). Contractors Favorite Job Costing Reports Job Profitability Reports are the easiest and most practical to track. Contractors can see job by job; did these jobs make a profit? From this report, you can drill down to more specifics about the job. Because of every small job, every remodel is different and knowing how much the plumber, the electrician, the framer charged is not always relevant.   It gets back to over tracking versus practical information you can see and process at a glance. Which jobs made money and which ones did not. Was it the material costs? What is the timing of the job? Time spent on the job? Lack of Signed Change Orders? Fuel costs have increased everywhere due to recent Hurricanes (if they didn’t work in your area – you are one of the lucky few). Estimating Many contractors are finding it is helpful in bidding the jobs to use a detailed estimating program. Some Estimating Programs link to industry-specific cost codebooks. Please Note: If your estimate is several pages long it is not practical to enter this type of estimate in QuickBooks line-by-line. QuickBooks can be set up to do many things. QuickBooks can have as much detail or as little detail as the user wants or needs. Can be used as an electronic checkbook to a real accounting program with reports. The object is to be able to see useful reports you can read and make decisions Making decisions and being adaptable happens every day when you are in business. We understand Contractors and Construction Accounting from your side; what you need and why you need it! Why, because we have been there. It is impossible for us to think from any position then from management. When you are ready – We are here to help. Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Key_Reports_For_Your_Contracting_Company_Explained

This Podcast Is Episode Number 0234 And It Will Be About 12 Signs You Hired The Right Contractor Bookkeeping Service    If you are a contractor, you know what to look for when you need to hire skilled construction workers. The longer you have been in construction, the more experience you have including a sixth sense about who is likely to be a good fit for your construction company team and who is not.  You can spot wanna-bees, clowns, and firebrands in an instant, and you know that if you are thinking about firing someone; you are already fifteen minutes too late! 99.99% of Construction is "Tangible" which means you can judge it using your five senses. You can See, Hear, Touch, Smell and Taste it and you know when it is good or bad. 99.99% of construction accounting is "Intangible" including financing, taxes, payroll processing, payment applications, financial statements, cash management which means you may have to rely on your gut-feeling to know when someone perhaps is not a good fit. I have a deep background both in construction, having owned and operated successful construction companies and construction accounting. I have a deep background both in construction, having owned and operated successful construction companies and construction accounting. Just so we are clear, if you suspect I want the opportunity to work with you, you are 100% right! But, I know what you need is proof that I know what I am doing so let me condense several decades of experience into these twelve warning signs you hired the wrong contractor bookkeeping service. Here are these twelve Signs You Hired The Right Contractor Bookkeeping Service   Sign #01 Your contractor's bookkeeping service specializes in working with contractors. They are not general bookkeepers who accept all types of businesses and cannot do right by any of them because nobody can keep track of all the subtle differences and nuances of multiple industries let alone the specialties within a given industry. In the construction industry, they are "Masters Of Their Trade."   Chances are they are not the cheapest Bookkeeping Service available. Every successful contractor knows cheap tools, cheap workers, cheap material and cheap Bookkeepers are the most expensive ones in the short-run and worse in the long run.   Cheap tools and cheap bookkeepers appear to be a bargain until you use them for a short while and discover how expensive they are.   When you add up the seen and unseen costs, you suddenly realize you need to replace them with someone who understands construction. Someone who understands Construction Accounting and has a contractors accounting and bookkeeping system, software, hardware, infrastructure and staff that are trained in construction accounting, so they know how to provide the contractors accounting and bookkeeping services you need.   Sign #02 Your contractor, bookkeeping services firm offers flat-rate pricing for your contractor bookkeeping services needs. There are situations when a contractor is better off with a flexible rate schedule including pre-determined hourly rates depending on the skill level required, but only if there are complex construction accounting needs or if the construction company owners or managers want direct command and control of the contractor bookkeeping services.   We can serve 99.99% of construction, and contracting companies in the USA including Alaska and Hawaii with annual sales volume from $0 start up to $5,000,000 with a flat rate weekly or monthly fee that does not change unless your needs change.   Our Construction Accounting Services System takes the guesswork out of contractors bookkeeping services and leaves good solid, repeatable bookkeeping processes that work day in and day out.   Sign #03 Your contractor, bookkeeping services firm, is open and honest with you and answers your questions with easy to understand language not "accounting speak" and respects you as an intelligent business owner.   Construction accounting is complex; however, you don't want to know how it’s done you just how to read the financial and job costing reports to help you operate and grow your construction company. The true professional in any field makes everything they do look easy I invite you to look at The Five Key Performance Indicators For Contractors. Then you decide if what I say is true or not, you are the judge.   Sign #04 When you provide the data and paperwork on time your contractor bookkeeping services firm gets their work done on time.   You know there is no profit in operating a chaotic bookkeeping service or any other company for that matter. Contractor Bookkeeping Services are predictable, foreseeable, boring, tedious, mundane, repetitive, monotonous, dull businesses in the world and people either love it or hate it.Thank goodness everyone at Fast Easy Accounting loves it, eats it, sleeps it, dreams about it and are fascinated with it! The reason we love it so much is our contractor's bookkeeping system reverses the typical 95% / 5% ratio. In most bookkeeping services, 95% of the time they don't know what to do most of the paperwork they encounter, so they try to remember what we did with the last one just like it, and they hope the financial and job costing reports don't get screwed up. And only 5% of the transactions are simple and easy. Even something as simple as knowing where to classify fuel or food can be a nightmare for the bookkeeping services staff without at least 10,000 hours in construction accounting.   Fuel Costs Could Go Into Any One Of A Dozen Accounts For Example: Construction vehicles for use on streets and roads Construction vehicles for off road use Generators Cut-off saws Air compressors Other power tools Admin vehicle company owned Field employee vehicle as reimbursement Admin employee vehicle as reimbursement Sales employee vehicle as reimbursement Operations employee vehicle as reimbursement Officer or Owner vehicle as reimbursement Food Costs Could Go Into Any One Of A Half-Dozen Accounts For Example: Field employee meals (different tax deduction than straight meals) Meals for office employees Entertainment Office meetings Charitable donations Gifts for clients If a transaction is put into the wrong account, the financial statements will present a vastly different picture to the contractor regarding which jobs are profitable and which ones are not. In the end, it could mean the difference between success and failure because if you rely on Profit And Loss By Job Reports to know which jobs to bid on and which ones to ignore. Year over year and regardless of the economy one thing never changes; 20% of the contractors earn and keep 80% of the profits. The reason is they have a Business Process Management Strategy like our Contractors Success M.A.P. that tells them how, what, when, where and why to focus their limited resources on the M.A.P. = Marketing / Accounting / Production. The 80/20 Rule Combined With Business Process Management Can Improve Your Life In Ways You Never Dreamed Possible! Sign #05 Your contractors bookkeeping services firm works out of their home. Home based businesses are great for many people, and they make a lot of sense; except when it comes to dealing with your construction company's sensitive financial data. The last thing you want is for your contracting company records to be sitting on someone's kitchen table open and inviting for anyone and everyone to see, touch, read and spy on you construction company. It happens more than you could imagine or could believe unless it has happened to you or someone you know and trust. Just as bad is when your cheap bookkeeper has little kids with sticky fingers, and they get peanut butter and jelly on your construction company receipts. By far, the scariest cheap bookkeeping services are the ones run by the wife, girlfriend or office worker of your competitor who likes to share your client list, estimates, and financial records...OUCH! That happens more than you could imagine or believe. Sign #06 Your contractors bookkeeping services firm internet presence is professional, clean and packed full of helpful, useful information and has at least 10,000 pages. A website is no longer a luxury and at a minimum to be taken seriously your contractors bookkeeping services should active in at least 20 different social media sites including a presence on LinkedIn, Facebook, Twitter and Google+ to name a few. The best way to know if your contractors bookkeeping services firm has an internet presence is simply doing a google search on them. Google FastEasyAccounting.com and you will find over 9,000 results as of 10-17-14. Google our Co-Founder Randal DeHart, and you will find over 58,000 results as of 10-17-14. Sign #07 Your contractors bookkeeping services firm does not close sales; they open relationships. No high pressure or scares tactics to get you to buy. We do not close sales; we open relationships. Hiring a Contractors Bookkeeping service is something we take rather seriously and deliberately. We are a small privately held contractors bookkeeping services firm with a process to invite new contractors like you into our family of clients. It starts with a No Charge Consultation and mutual interview to determine if there is a basis to build a mutually beneficial relationship. Next, we review your QuickBooks file to determine how and if we can meet your construction accounting needs. Lastly, Sharie contacts you to present one of more custom solutions that we put together to fit your construction company's individual needs because no two contractors are the same. Sharie reviews it with you, and you decide to engage our services when you are ready. Sharie will not attempt to close you because as I said before, "we do not close sales; we open relationships" so if we are not a good fit simply say so and we will leave you alone. In the future, if you change your mind, you are always welcome to contact us again. Sign #08 Your contractors bookkeeping services firm carefully explains your bookkeeping options and lets you decide what it best for you. We can serve 99.99% of construction, and contracting companies in the USA including Alaska and Hawaii with annual sales volume from $0 start up to $5,000,000 with a flat rate weekly or monthly fee that does not change unless your needs change. Our construction accounting services system takes the guesswork out of contractors bookkeeping services and leaves good solid, repeatable bookkeeping processes that work day in and day out. However, some contractors want control over their construction accounting services including what, when, where and how their Contractor Bookkeeping and Accounting services are handled and if this describes you then rest assured we have you covered. You can have access to the same secure; Intuit Approved Cloud Based Hosting Service, which includes the same QuickBooks desktop as all of our contractor clients and instead of our construction accounting services system. In these cases, we can design a reasonable hourly contractor accounting service package to fit your needs and allow you reasonable command and control on how QuickBooks is setup and maintained. Sign #09 Your contractors bookkeeping services firm follows up regularly to make sure you are very satisfied with the services you are receiving. We have a simple answer, we keep in contact with you as much or as little as you desire and more importantly we earn your business every month. No long-term contracts, you vote with your dollars to keep us or let us go. We do everything we can, within reason, to keep you, improve our services, innovate and add value every day. Don't take my word for it see what our clients say Click Here. Sign #10 Your contractors bookkeeping services firm has QuickBooks ProAdvisors on staff is one of many certifications they need to consider a viable bookkeeping service for the Contractors. Yes, it costs money, $549 per year and the ProAdvisor has to take a test and recertify on the new QuickBooks edition every year. Sign #11 Your contractors bookkeeping services firm takes a proactive approach to supporting your construction company needs outside of simply providing the bookkeeping services and they offer recommendations to help you get more from their services, save money, or improve your construction company profit and productivity. We have entire sections of our website devoted to helping your construction company become more profitable, streamline your operations and become more productive. For example, check out the strategy and construction psychology sections. Sign #12 Your contractor's bookkeeping services firm offers you a way to access your QuickBooks desktop version 24/7/365 from any web enabled device. Including top notch English speaking tech support staff! The Screenshots Below Were Taken In Our Lynnwood Washington Office  QuickBooks Is 1,000+ Miles Away Running On High-Speed Servers Tucked Securely In A Building With Armed Guards With Highly Skilled Technicians Maintaining It Want to learn how to hire an honest, competent, and reliable contractors bookkeeping services firm? Download our FREE Business Advisory Guide at Contractors-bookkeeping-services-guide-for-construction-accounting-and-bookkeeping/ I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. 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+  Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Own Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open   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   Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_12_Signs_You_Hired_The_Right_Contractor_Bookkeeping_Service_

This Podcast Is Episode Number 0233 And It Will Be About Contractors Struggle To Save Paperwork Needed For Taxes Tax Time! Corporate Income Tax Returns are due to the IRS by September 15th for S-Corp and LLC’s filing as an S-Corp Other types of corporations may be in a fiscal year with varied due dates. The only exception is any emergency extensions granted due to hurricanes (Harvey) or others. Personal Income Tax Returns are due to the IRS by October 15th which falls on the weekend and extended to Monday, October 16th. Keeping Paper 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. What To Save? What To Toss Out? We no longer need to print and save every document in file folders and keep adding new file cabinets. Happiness is every document that can be retrieved electronically at any time in the future. Sharie's Seven Paper Tips... Sharie’s Paper Tip 101 Save your receipts. If you have it in paper Get a file box and toss in all the gas, food, misc receipts paid by credit card.  Make a note on the receipt. You have the receipt for backup. I remember a story where someone needed to prove where they were. Charges on the credit card statement weren't enough.   Sharie’s Paper Tip 201 Make individual file folders for your state taxes, quarterly payroll reports, W-2’s, 1099’s. Other helpful folders are for your Bond, Liability Insurance, Worker’s Comp Insurance, Tools, Office Equipment and Cell Phones. All the statements you may need to reference over and over again and Receipts with extended warranties. Sharie’s Paper Tip 301 Print a copy of the Contract with your client (electronic signatures is fantastic) use a service that will time and date stamp in case you have an issues. Contracts are great in case of dispute. If all goes well, then The Signed Contract is just another piece of paper. I have heard stories of customers altering the contract, and the contractor did not double check. Magically things happen with software. Be sure what the client signs are the same copy of the contract you sent them and expected to be signed.   Sharie’s Paper Tip 401 Take credit cards. Use multiple services if that is what is available. If you use a service to send your contracts for signature and they have a Merchant Services; then sign up for it. Everything that happens seamlessly is the best. Approval Now + Authorization of Payment means you have real money (their money) to start the job.   OPM (means using Other Peoples Money – meaning you are using the Client’s money to start, continue and finish the job). Build in the Merchant Services Fee into your pricing. Cost of doing business.   Many contractors lost money on Groupon Coupons as customers only would do the One or Two Rooms as was prepaid on the coupon. (Example Carpet Cleaning – Drywall Patching)   Sharie’s Paper Tip 501 Use an invoice built on Excel. Word is pretty and is needed for all the descriptions. But to properly get the money, you expect to be paid Contractors need a form that adds up the money. Do not call all the payments a Job Deposit all the way from beginning to end. Call it a Statement, Progress Invoice, once work is approved it is no longer an Estimate or a Work Order. If you are in a sales tax state (Washington State) and need to collect sales tax; then be sure to add sales tax to every invoice. Customers have selective memory. Be sure to use “Plus Applicable Sales Tax” on the Estimate, Contact and all future billings. If sales tax increases you need to be able to pass the increases on to the customer.   Sharie’s Tip 601 Contractors who are doing remodel projects like to have job costing. To achieve basic job costing reports the accounting software needs to know what job the expenses should apply to. Many contractors will create a single file folder and drop all of the individual receipts in it.   This is handy if they have outsourced their bookkeeping and needed to give their bookkeeping to others to enter into an accounting software (QuickBooks) One simple way to add more detail for bookkeeping is to have accounts with the primary supplier. The person at the counter will ask you if you have a PO (Purchase Order). Purchase Order does not need to be complicated. Job Name and Job Address. Why both name and address? Because the name that pays the bill may not be the same as the Nick Name that you know your client as.    Examples: Bob, Bobby, Rob, Robby, Robert or Bill, Billy, Will, William may be the same person to you but not to the bank, credit card company.   Always exciting when Spouse, Family member or good friend helps pay your invoice. From Accounting side; next week, next month, next year will you remember which job the individual receipts are tied to?   Sharie’s Tip 701 For larger projects – file folder for each invoice especially if you are billing Time & Material or Cost Plus.   Keep good records; customers will randomly want to confirm the cost of some or all of the items. Does your customer want copies of all receipts?   Does your customer want to nit pick the price of each 2x4, cost of temp? Service and every dump fee?   Does your customer Agree Verbally To Change Orders but give excuses when asked to confirm changes on paper or by email?   Does your customer hide when you ask for payment? To be better able to assist, we have added our FastEasyAccountingStore.com for the convenience of clients who want to do their bookkeeping and need additional Chart of Accounts and Items Lists to make their QuickBooks File work more efficiently. Option available for Contractors using QuickBooks Desktop (US Version) using our server and continue to do their bookkeeping.        Contractors who want more hands on help to Set Up QuickBooks and want to consider Outsourced Accounting Services using QuickBooks Desktop (access optional) We have a process that begins with chatting about your needs, how and what you are currently doing with your bookkeeping. Clients range from Brand New Contractor to Seasoned Contractor whether you are currently using Shoe Box, Excel Sheets, QuickBooks Desktop, QuickBooks Online or nothing at all we can help. Looking forward to being of assistance.       Enjoy your day. Sharie   About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Struggle_To_Save_Paperwork_Needed_For_Taxes

This Podcast Is Episode Number 0232 And It Will Be About Contractors Need These Key Resources To Run Their Company Smoothly Contractors Need Additional Resources To Smoothly Run Their Business Running a Construction Business is part serious, part white knuckles, part smooth sailing with moments of fun. Because those moments of fun can be few and far between every Contractor needs to have a little humor. Try to see the glass is half full when it really feels like you are in “The Wizard of Oz, ” and instead of going to Kansas you went somewhere else less fun.     To help free up your time we have numerous FREE Items on FastEasyAccounting.com and located on FastEasyAccountingStore.com. We want to help you make your work time as smooth as possible.  Construction Definitions includes the 8/20 Rule | Chaos | Five At Five For Five | Unlicensed Contractor   https://www.fasteasyaccounting.com/free-construction-definitions-the-work-flow-process Construction Definitions A – Z is filled with Randalism’s including the humorous ones to the very serious.   11 Steps To Contractors Success | Experience | Four Dreaded Words | Leveling | Wealth Prevention Tool https://www.fasteasyaccounting.com/construction-definitions-a-to-z Streamline Your Contracting Company Operations With Our Free Checklist You are an intelligent Contractor which means you know how to operate your construction company, and the biggest barrier to your success is getting your employees to do what you want them to do when you want them to do it, and do it the way you know works best. https://www.fasteasyaccounting.com/contracting-company-operations-checklist Free Construction Estimate Template You need this simple estimate because you can use it anytime, anywhere. It has lines for description, quantity, rate, and amount. It automatically subtotals the items, adds sale tax or markup (if you need it) and totals everything.   https://www.fasteasyaccounting.com/free-construction-estimate-template Free Invoice Template Built On Excel You need this simple invoice because you can use it anytime, anywhere. It has lines for description, quantity, rate, and amount. It automatically subtotals the items, calculates sales tax and totals everything for you! It is designed to record a payment and show balance due.  With many invoice forms, it is too easy to have a payment be treated as a credit when it is not applied properly on the form. https://www.fasteasyaccounting.com/blog/bid/144649/free-contractor-invoice-template-on-excel In Washington State how you apply payments impacts the amount of sales tax is due and collected.   https://www.fasteasyaccounting.com/free-invoice-template-form-for-contractors Free Construction Template Change Order Form For Contractors The purpose of the construction change order form is to help you make a prisoner on paper any conversations between your customer and you, the contractor, your project manager, superintendent, foreman, construction worker or anyone else who has conversations with your customer. https://www.fasteasyaccounting.com/free-construction-template-change-order-form-for-contractors A lot of the money is made or lost on a job as shown in the profit and loss by job report can be traced back to how well construction change orders were handled. Customers remember and changes that reduce the amount they owe.  Expect some memory loss about the additions that replaced them.   https://www.fasteasyaccounting.com/free-construction-template-change-order-form-for-contractors Free Contractors Application For Payment Sample For Construction Contractors Are You Having Problems Getting Paid On Large Projects? The problem is when you get beyond two invoices, add some job deposits and change orders the process gets real tricky because there is no "Magic Button" in QuickBooks for contractors that will generate an invoice that makes sense to your customer.https://www.fasteasyaccounting.com/free-contractors-application-for-payment-sample-0 The Application For Payment Invoices shows the money trail from beginning to end in a way that everyone can understand and appreciate which means you get paid faster, with less hassle and your clients will love you for it! https://www.fasteasyaccounting.com/free-contractors-application-for-payment-sample-0 Free Time Card Samples For Construction Contractors Employees need to fill out their time card daily for the most accuracy. The nature of employees it to fill their time card five minutes before they would like to collect their paycheck. See a variety of timecards that can be printed and manually filled out or are Excel and can be filled out on a computer.https://www.fasteasyaccounting.com/free-sample-time-card-calculator-downloads Manual time cards are an improvement over no time cards at all.   https://www.fasteasyaccounting.com/free-sample-time-card-calculator-downloads Electronic Timecards   Have your employees clock in and out using their cell phone. Recommend electronic time cards as the best way to not over handle the payroll information and have the information in a usable format for future reference.  https://www.fasteasyaccounting.com/tsheets This Is The Tip - Of The Iceberg. Everything we publish in our blog posts, articles in other websites, and anything you can find on the web is nothing compared to what is available to you as our client. We show only the basic tools to open your mind to the possibilities that are available to you. The best finish carpentry tools in the hands of a golf professional without proper carpentry training will not produce anything near to what a skilled finish carpenter can. The same can be said about the best construction business consulting and accounting tools in the hands of a skilled finish carpenter. And I say that with respect and admiration for everyone in construction. If you are behind on your taxes and other bills. To get a line of credit, you need financials and you are receiving nasty phone calls and letters from Your Vendors and Government Agencies you may want to engage our services to do your bookkeeping. We try to keep the process as simple as possible. We Do Not Close Sales, We Open Relationships Hard Ball closing is not my style. You are added to our marketing workflow and receive a series of emails, but I do not call so often that you dread taking my call. We have solutions when you are ready.     I would love to chat with you about your business. Here is a link that tells you what to expect. https://www.fasteasyaccounting.com/contractors-helpline Safe Driving This Labor Day Weekend. PS.  To everyone in the Houston Area.  Thinking Happy Thoughts in your direction. Washington State has had a nice summer – Please start sending back our Seattle rain; we miss it.       Enjoy your day. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Need_These_Key_Resources_To_Run_Their_Company_Smoothl

This Podcast Is Episode Number 0230 And It Will Be About Contractors Make Decisions Every Minute Of Their Day  Making Decisions Never Ends For Construction Contractors Like You One of the basics of good decision making is being adaptable Think of decision making is being in a bumper car. You are constantly driving and trying to avoid the other bumper cars. If you hit one you back up and go again (reminder this is the only safe place to hit other cars). Rest of the time life as a contractor feels more like the Indy 500. You are driving as fast as you can, passing other cars, making pit stops, and scrambling to make it to the finish line. Translate this back to the real daily life of a Construction Contractor For Construction Contractors like you the paper work, processes and decision making are never ending. The concept of time is all about 10 minutes. Your coffee brews in less than 10 minutes.   Take a shower in less than 10 minutes.   Load the dishwasher in 10 minutes.   Take out the trash in less than 5 minutes.   Read your email in less than 5 minutes. Decice what bills to pay in less than 5 minutes. Process Automation Is Freedom From Chaos By Becoming "Process Dependent Not People Dependent" Are your employees work based on "Time Served" rather than "Results Achieved? Time to start and a time to stop. Now do are your expectations for those same employees to work faster (Indy 500)? Do you expect the job to be done efficiently, completely and beautifully (better quality than the homeowner can do themselves)?   How many jobs are completed where the final punch list takes longer than the actual job? Common practice with employees got the job done Fast (beating their previous time) There is done and not done. I can think of several examples. Is there trash left all over the job? Is the living space dirty and need to be professionally cleaned for the client? Is there a zillion things the homeowner needs to do before they can reclaim their space? The job is not done until the final punch list is completed, the customer has paid, the check has cleared the bank. There are a zillion steps from the initial call to meeting the potential customer, creating an estimate, doing the work, collecting the money and paying the bills. I repeat and cannot say it too often, for Construction Contractors like you the paper work, processes and decision making are never ending. Contractors most common questions are I saved all my paperwork, now what do I do with it? Who will call my suppliers, create tax forms, pay all my bills and taxes? Will you do everything? I just want to do the work. You say you want all of your employees to enter into the QuickBooks their receipts, invoice customers, it is a wasted step for me, as the owner to handle all of the paperwork all over again. You are the Contractor (THE OWNER) I want to point out that your employees are just that employees. On larger projects, it makes sense for them to track their jobs (talking about the Project Managers, Construction Supervisors, Lead Staff) using a Project Management Software, not QuickBooks. Keep It Simple: Start with an Electronic Timecard.   We recommend T-sheets. T-sheets is affordable, works on all brands of Smart Phones, with support for those will the old fashioned flip phones. Fantastic about helping you and your staff use the product.   Reports can be pulled by date range, by staff, by the project. It works for both field and office staff. Of course, the GPS feature not practical for office staff but very practical for your field workers. Are your employees where you expect them to be? Who is in your QuickBooks? Experience has found that “Too Many Cooks In The Kitchen Ruin The Meal” and too many people in QuickBooks leads to a financial disaster and more often than not meltdown and bankruptcy business and personal. Does everyone need to be in the Accounting System?  Having all your staff know more about your numbers can cause a lot of “White Noise” in their heads. Common Employee thoughts are "Employees are doing all the work, and the Construction Owner is making all the money and doing nothing!" Sound familiar? It will if you have been in business more than a few years! Employees never think about that stack of invoices for supplier slips, insurance, taxes (that’s all just stuff that doesn’t count). About The Accounting. We recommend all Construction Contractors use the Desktop Version of QuickBooks. It’s very robust and customizable. No, not every 3rd Party App. will work with QuickBooks. QuickBooks Setup For Contractors Yes, in addition to QuickBooks Desktop Software, we use 3rd Party Software to help us help you.   Both in the area of the amount of paperwork you need to send us and keeping your costs affordable.   Many Construction Contractors find us through blogs, podcasts and their existing office staff who have read our blogs about Bad Bookkeeper. My suggestion to you is if your staff is enraged about what has been written – maybe it is time to closely review their work? We are here to help with QuickBooks Setup, Cleanup, Ongoing Bookkeeping, Providing Cloud Access Consulting and Training. We always recommend QuickBooks Desktop as the starting point for all Construction Contractors, large, small, new in business, returning contractor. We are here to help you. The 80-20 Rule Combined With Business Process Management Can Improve Your Life In Ways You Never Dreamed Possible! 20% Of The Construction Companies - Share the Top 80% of the profits which the owners and shareholders use to support lavish lifestyles because they know what to do when to do it and how to do it! 80% Of The Construction Companies - Share the Bottom 20% of the profits which the owners and shareholders use to support just above or just below average lifestyles because they don't know what to do, when to do it or how to do it! The Key Is Your Thinking Patterns And Habits Success is a few simple disciplines practiced every day Failure is a few errors in judgment repeated every day For Contractors who happy doing the bookkeeping, we offer custom built QuickBooks Setups, Chart of Accounts and Cost Codes and other related products on the FastEasyAccountingStore.com. Making site improvements daily. Products are broken down into (3) areas: United States, Canada, International. Construction Contractors want their Accounting to be on a Merry Go Round instead of some of the more exciting rides at the county fair. Life is in constant change. Everyone has a Wish List – I want to be on yours when you are ready.    I love to chat with everyone.  Call today, tomorrow, next week.   Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Make_Decisions_Every_Minute_Of_Their_Day

This Podcast Is Episode Number 0228 And It Will Be About Our Proven Paperless Contractor Bookkeeping Replaces Bookkeeper Contractors Want Paperless Bookkeeping Services To Avoid Hiring A Bookkeeper The horror stories about bad bookkeepers (in-house or as 1099 contractors) are never ending. For this reason, Contractors are reluctant to interview or hire an outside bookkeeper. Many Contractors are frustrated that the person they hired costs too much appears to know less about bookkeeping than the contractor themselves. Contractors I have talked to mention they know very little about accounting and do not want to know more. You Want Someone To: Take over the bookkeeping Leave you alone Not ask a lot of questions Have everything ready for the Annual Tax Return Provide Financial Statements when you need them   YOU WANT TO KNOW IF YOU ARE MAKING MONEY NOT THE MIND-NUMBING PROCESS OF ACCOUNTING EVERYTHING SHOULD AUTOMATED AND PAPERLESS  YOU SHOULD NOT HAVE TO DO ANYTHING! THE SYSTEM IS THE SOLUTION!     When Contractors Try To Do The Bookkeeping: In doing the bookkeeping themselves; contractors will hook up every app they can find and set it on automatic and “Hope For The Best. ”Using the concept of setting it up once and never having to touch it again. The Contractor is hoping that Magically all the transactions will automatically download to the proper income or expense accounts. The reality is not quite that simple. Everyone is looking to automate their processes. Every minute The Contractor is the time that is taken away from doing something more productive or something more fun. Paperless Bookkeeping is achievable when setup properly. The answer is electronic documents being automatically being sent to someone who knows what to do when the documents are received. Willingness to follow directions and accept new ideas. It is the difference between using a framing hammer or a nail gun. Both will get the job done. One is a lot harder. Who is the expert in the field?  For Construction Contractors the saying “garbage in, garbage out” applies to their bookkeeping needs. Each level of detail adds more time for the contractor to explain in writing details about the job to someone else.  Ten minutes wasted trying to learn and use QuickBooks is ten minutes wasted. That extra 10 minutes is time you do not have. I could tell you – It’s just 10 minutes. You would roll your eyes up at me, in the same way, I will roll my eyes up at you if you were to tell me that Construction Bookkeeping can be completed in just 10 minutes per day.  We embrace technology and use multiple cloud based and desktop software to provide Paperless Bookkeeping Services to our clients. Our QuickBooks Files using a fully working QuickBooks Desktop Version In The Cloud and accessible to you from any web enabled device wherever you have internet access. Cloud Based Remote Access To QuickBooks Desktop Version! Paperless System For You To Store, Print, E-mail Documents Microsoft Excel Is On The Server For You To Use  Your QuickBooks Desktop Version In The Cloud 24/7 Access!ust A Few Mouse Clicks On PC Or Mac And Get: The Key Reports You Need: Cash Report anytime YOU want it! Receivables report anytime YOU want it! Payables report anytime YOU want it! Profit & Loss statement anytime YOU want it! Balance Sheet report anytime YOU want it! Job Costing report anytime YOU want it! Estimates Vs. Actuals report anytime YOU want it!   The Screenshots Below Were Taken In Our Lynnwood Washington Office  QuickBooks Is 1,000+ Miles Away Running On High-Speed Servers     Tucked Securely In A Building With Armed Guards With Highly Skilled Technicians Maintaining It And We Do Part Or All of Your Bookkeeping     All QuickBooks Files Are Backed Up Every Night On A Secured Server English Speaking, U.S. Based Technicians Maintain The Server QuickBooks Software Updates Are Automatically Applied We Provide Your QuickBooks Maintenance And Support Our Document Management Systems that link to your bank, credit card to provide electronic documents of your transactions. These are not direct feeds from the bank that cause havoc with your QuickBooks Data File. Do not allow or support direct feeds from your financial institution to your QuickBooks Data File. We manage the transactions and enter them properly into your QuickBooks Data File. Again – Garbage In = Garbage Out. All accounting software is designed for the broadest number of customers and if it is trying to be useful to anyone it will be the Tax Accountant’s software. As fantastic as AI’s (artificial intelligence) are (and I love spell check); the AI (artificial intelligence) does not know everything about everything. Someone has to be able to make a decision, guide the transactions to the proper results.  Example – Home Depot receipts can include, material, supplies, small tools, larger tools, plants, appliances, lumber, truck rental. Construction Accountant knows how to classify these receipts. In accounting, there is no such thing as a miscellaneous expense.  Recommend contractor have a Home Depot and Lowes Accounts. In the world of Construction Accounting Home Depot and Lowes revolving accounts are a credit card account (no different than a Sear account). The beauty of Home Depot and Lowes accounts when we setup our document management programs for our clients – we will see the transaction.  Going Green – Is more than just saving paper. It saves time printing documents, filing documents, owning multiple file cabinets, cases of file boxes for when the file cabinet gets full. Buying hanging folders, file folders, labels, envelopes, notebooks, tabs, and lots of paper. Every Contractor needs to keep some documents, in the electronic age, spending hours and hours filing paper documents is no longer necessary. Highly Profitable Contractors Embraced: The Fax Machine The Scanner Taking a picture of documents on your cell phone  Using Email from a computer or cell phone Online Banking and Bill Paying  Now – Enhanced delivery of documents using a secure environment directly from your bank.  Paperless is here to stay. The question is the quality of results received by the Contractor is different between the software used from Free to what may on the surface seem like a Low Monthly Cost. The low price is not always the same as Good Value at a Reasonable Price Point.  We embrace providing Paperless Bookkeeping Services. Many of our local clients who are close by choosing to send documents electronically or by bank feeds. Every document that we see automatically from the bank, credit card, primary supplier is one less document The Contractor needs to handle. We have experienced Construction Accountants, and when we see a document, we know what to do. Continue to develop ways to make it easy for our clients to answer any document questions we have. Always on the lookout for new cloud based software that will “Play Well” with QuickBooks Software  We have been providing Paperless Contractor Bookkeeping Services for a long time and we continue to find ways to get the work done with less burden on our Contractor clients. We no longer need you to send documents. We Regularly update our QuickBooks Desktop Chart Of Accounts And Cost Codes as we find enhancements that help us help you. Construction Contractors want to Save Money and Make Money – If we have an idea that will help; we are going to tell you. Every time a Construction Contractor is over-handling a document it costs money.  Construction Accounting is always, always about Being Green – It is the Color of Money.  Looking forward to chatting as we continue to improve our processes.    I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected]   Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Our_Proven_Paperless_Contractor_Bookkeeping_Replaces_Bookkeeper

This Podcast Is Episode Number 0227 And It Will Be About Contractors Need These Key Reports To Operate And Grow Your Company As A Contractor You Want Reports To Effectively And Efficiently Run Your Business You are not trying to make decisions by looking in the rear view mirror. You want to get a sense that there is “light at the end of the tunnel and know it is not an oncoming train” (author unknown) The question is How Much Detail is too much detail? If you are trying to track a job down to the number of 2x4’s, boxes of nails, joist hangers then I would politely suggest that is too much detail. Think in terms of a more broader scope. Common cost codes (commonly known as item codes, schedule of value, NAHB codes, CSI codes). These are all very important is a larger job or if the job is tying back to a Pay Application for the bank. This type of accounting will provide very detailed reports. The question is will you actually use these detailed reports. When you start an estimate are you thinking in that much detail? If yes, then I suggest that counting of 2x4’s is a function of the estimating program. In the estimate, the phase is where you are starting to develop the scope of work for the job.  QuickBooks Premier Desktop has lots of reports for a $400.00 accounting program. QuickBooks is good at tracking Labor, Material, Other, Subcontractors. It is more work to track each of these as it relates to the individual Cost Codes (Plumbing, Heating, Electrical, Framing, Underground, Rough-in, Top Out). Many contractors will give a Flat Rate number for services. The initial meeting of your prospective client is usually looking at a project with a more broader scope.  Most customers think of their project as it relates to the areas of their home.  Example:  Kitchen, Bath, Master Bedroom, Family Room, Sun Room, Addition, Deck, Patio. Based on this doesn’t your mind immediately go to previous jobs and you begin thinking the same way? This project is like:  Sam’s Family Room plus a little more of [fill in the blank] Pete’s Kitchen take a little of that [fill in the blank] Sarah’s Master Bath and [fill in the blank] Move this to there and move that upstairs Move something else downstairs. The laundry area in any house is almost never in the perfect place for the new owner and probably only tolerated by the previous owner. Plumbing, Heating, and Electrical are always the items that are subject to change. Plumbers are always willing to upgrade; Electricians hate to see a working fixture replaced. Hello To All Contractors, speaking for wives the world over; if we despise the light (for whatever the reason), the faucet is hard to turn on, 2 handles instead of a single handle; time will not make it be better. Please Say Yes I Can Fix That: You really don’t want our help with a 3# sledge hammer or bolt cutters.  Always Give Your Clients What They Want, Not What You Want Everybody picks one or the other to a degree because nobody can do both for very long. Pick one on purpose or the other by default. The more important it is to be right the less you will be rich, and the reverse is true. I Have Asked Thousands of homeowners, commercial property owners, landlords, commercial space tenants and even a few car buyers, computer buyers, ship buyers and consumers about their overall buying experiences and one common thread appears over and over; they got what they wanted and were happy repeat customers and clients who refer their friends and family, or they didn’t get what they wanted and made the contractors life hell. My Script Book - Has a list of questions that are continually honed, polished, updated and replaced from which I pick and choose the ones to use depending on the situation. Develop Your Own Script Book - And record the questions and answers that you find encourage people to open up and get to the fourth level of truth because when you do the service, you will render will be far in excess of the money you earn. Questions For - Social gatherings are more casual; business meetings are more focused, network events somewhere in the middle, focus group events very intense and tightly focused. The Two Most Powerful Questions: What are your most important criteria in making a purchase decision? What is the one thing you remembered about your purchase? Question #1 Most Common Answer - "Price" because for most people it is a conditioned response they learned early in life. It is similar to ringing a bell; it gets people's attention; Stimulus & Response. If you ever get mugged, and I hope you never do; yell "FIRE" because everybody wants to see a fire, but very few people will respond to cry for "HELP." Question #2 Most Common Answer - "I could or could not get what I wanted!" There is a lot of money making power in this answer, and it does not come fast or easy. In fact, in most cases, it takes a while to get to it...because: Truth Is Four Levels Deep: What people want to hear What people want to believe Everything else out in the world The Truth of what they really believe  Construction Business Owners - With an annual sales volume of less than $5,000,000 if you want to double, triple and quadruple your cash flow and net profit pay attention to this one thing: Give Your Customer Or Client What They Want Not What You Think Is Best! If I Had A Dime - For every time a contractor ignored what their customer or client was asking for because they were thinking of what they were going to say, which related to what they thought was best for their customer or client I would buy a brand new sports car to take my girlfriend, wife, sweetheart, Sharie on another sightseeing road trip across America. Listening - With empathy and understanding is one of the most valuable gifts one person can give to another person is to listen and let someone speak until they are finished. Great speakers who make deep noises from the chest sound like important messages from the brain have a captive audience, and it is 180 degrees opposite of truly listening. Questioning - When your construction customer or client makes a point about something that could be important wait until an appropriate break in the conversation and ask for clarification. For example, the new deck needs to be really strong...could be an important point...perhaps they entertain a lot of sumo wrestlers or professional football stars...show you care by asking. The preceding examples could save you a lot of money by not under-building something and in fact, could make you a lot of money with add on sales. Observing - Private detectives make a lot of money, and the best ones have a keen eye for observation. Much can be said about this, and I recommend you read the book "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko. We Had Several Repeat, And Referring Clients in our Construction Companies and one, in particular, lived in the Magnolia neighborhood of Seattle. A sweet little old lady on a "Fixed Income" that we did a substantial amount of work on her house. Every Time, Like Clockwork when one of our Plumbing Service Professionals would quote a price for a new project she would almost break down in tears. Her voice would crack, and her face would take on the saddest look you have ever seen while she talked about how she may have to do without something special in order to have the work done. The funny thing is whenever I would see her at a social event I would ask how she was able to survive on a "Fixed Income” of more than $8,000,000 a year. Her response as always, "It is not easy but thank goodness the house and car are paid for, and I have no other debts.” We Did A Lot Of work - For her and her friends and neighbors in the area and they were all raving fans! Why? Because of Listening, Questioning and Observing and always, always, always giving a little more in value than we took in dollars. The key is always give a fair price that ensures your company will earn a handsome profit and hire professionals to do excellent work. If You Own A Small - Construction Company, brand new or been in business a while, we have a special consulting offer that you may be interested in...Click Here To Learn More QuickBooks Needs To Know A Lot Of Things To Produce Reports You Need How much detail is Too Much or Too Little is a lot like “Goldilocks and the Three Bears.” It all depends on the Contractor involved. Unreasonable to expect bookkeeper to magically know item codes for a job. My suggestion is that you and all your employees use an electronic time card.  We recommend T-Sheets. Simple to use, economical, and has a group of reports. One of those reports is a project report. I like this because it is a different view of time spent on the job than from inside QuickBooks. T-sheets imports to multiple payroll services. Fast Easy Accounting Your Certified TSheets Consultant How do you bill out your employees time? Is it on a “Cost+” where it is their actual pay rate or is it a rate for specific labor types (supervisor, lead, apprentice, labor) regardless of their individual pay rate?    In T-sheets where I think a Contractor should think in terms of Kitchen, Bath, Master Bedroom, Family Room, Sun Room, Addition, Deck, Patio. Why? Because outside forces cause material prices to go up or down. Job by Job controlling labor and change orders is an achievable goal. Quick and easy way to see on your phone “Hours On The Job” by the project. This will help determine you labor hours on specific jobs or all labor for the specific time period. Other features are employees clock in via their phone and if they are using a Smart Phone GPS tracking is enabled.   Realizing you don’t know and want to know more about your business is the first step. With our QuickBooks Customized Setup (Desktop) and additional built-in reports in QuickBooks will answer many of your questions. After a properly setup QuickBooks file, then it is the question of How Much Detail do you want? I suggest, starting small with basic job costing reports for all jobs. You can always expand job types.    Do not try to super detailed job costing for a tiny “in and out” job versus a project that has more time and labor. Job costing takes the effort to get the level of detailed reports a Contractor wants.  Who does the data entry, bookkeeping, accounting, annual taxes – that is another whole topic. Looking forward to being of assistance. Call Me Let’s Chat.  Sharie  206-361-3950 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected]   Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Need_These_Key_Reports_To_Operate_And_Grow_Their_Comp

This Podcast Is Episode Number 0226 And It Will Be About Unique tax considerations running Contracting Company from home   Today's Guest Article Is From Ryan Tollefsen Planning to Run your business from a home office? Here's what to know about your taxes If you are planning on using your home office or any part of your home for business purposes or if you already do, it is time to address the tax issue. You have probably heard all sorts of different things about claiming a home office deduction and other deductions. As understanding of tax laws varies from person to person, some inaccuracies can occur. Let's take a look at the truth about the tax issues involved with running a business from your home. Deducting Home Office Expenses The Taxpayer Relief Act of 1997 softened the requirements to determine if the costs tied to a home office can be deducted. However, you can't deduct every single item used in your home office. The costs required to maintain your home office can only be deducted if nuanced IRS guidelines are adhered to. The home office must be exclusively used for running your business. Many homeowners are aware of primary residence rules as they relate to capital gains taxes, but exclusive use is something a little more complex. This means if you use the office for personal activities, family activities or anything else unrelated to your business, you can't use it to reduce your taxes. The bottom line is that the home office will only qualify as a “principal place of business” if the following is true: The office is used to conduct management or administrative activities of the business. There is no other location of the business where you perform substantial management or administrative activities relating to the business. If the above statements are not applicable to your business, home office deductions will not apply. A Word about Exclusive Use If your home office is in a distinct room, a group of rooms or a portion of a room in  which division is clear due to the presence of a partition, it is possible to show that your personal activities do not occur in this space. This is often the most challenging portion of qualifying for home office tax deductions. Aside from meeting the definition of “exclusive,” the space must be regularly used for the business. As an example, if your home office is sometimes used by your kids to do their homework, you will have violated the strict exclusive-use requirement, and the space won't qualify for home office tax deductions. However, if you make the occasional phone call from your home office, you will still qualify, as your space meets the spirit of the exclusive-use test. The bottom line is that if personal activities breach the home office space more than they would at the typical office building, the exclusive-use test will not be passed. The Regular Use Requirement Though there is no exact definition as to what qualifies as “regular use,” simply using an otherwise empty room of your home on occasion for business purposes does not meet the regular use test requirements. Yet using the home office for at least a few hours per day will likely suffice to meet the regular use requirements. A Look at the Principal Place of Business Requirement Aside from passing the regular-use test and exclusive-use test, the home office must serve as the principal location of the business or a place where one regularly meets with clients. This means even an employee that has a part-time business based in his home can pass this test although he spends the majority of his time at his employer's office. The key question is what constitutes a business. One's efforts must generate money, yet the specific circumstances of how money is made are of the utmost importance. If these money-making activities are substantial in regards to time and effort, there is a greater chance the principal place of the business requirement will be met. A great deal of nuance goes into the tax laws that apply to at-home businesses, and it's best to speak with a tax professional to understand what laws apply to your own space. About The Author: Ryan Tollefsen is the founder and team leader of Unity Home Group. Ryan specializes in negotiating offers, marketing, managing the team, setting goals and achieving them.   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected]   Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Running_Your_Contracting_Company_From_Your_Home_Office

This Podcast Is Episode Number 0225 And It Will Be About Successful Contractors Employees Produce Results We are excited that you are busy and hiring employees. How do I know this is true? The number of emails I receive about continuing education that reference employees are increasing. The topics you are sharing include wages, access to company funds, providing employee warm and fuzzies and you want to know what is the true cost including payroll taxes of having a Construction Worker on your payroll. More of your emails make references on How To Protect Your Construction Company from your employees. Employees with too much access to credit card accounts Employees with too much access to bank accounts Employees with too little accountability Paper time cards filled out randomly Protection comes from knowing the rules, putting systems in place, and dealing with the money. What type of compensation is required? What type of benefits are required? How to deal with Travel Pay? What should be reimbursed? How do handle fuel? Cell Phone Usage? Cell Phone Bill? Each state has no shortage of rules in place about the rate of pay, schedules and number of hours worked, time off and how it is classified. When travel time starts and ends if the employee travels to the job directly from home. When travel time starts when an employee is in service and goes directly to the job from home and is using the company vehicle. What about side trips to the store, gym, park, personal errands using a company vehicle on the way home from their last job. Every Contractor worth his or her salt wants to be fair to their employees and still be fair to the company. This is where a Payroll Service with the HR Department has enormous value. In construction there is no shortage of “What About” and [fill in the blank]. I should be paid for [fill in the blank] because and [fill in the blank]. Consider buying Clothes with your Construction Company Logo to identify them on the job. Time tracking using mobile devices is a must. See Below: Web Based Online Time Card For Construction Contractors Links To QuickBooks Job Costing Fast Easy Accounting Your Certified TSheets Consultant Other concerns are the “Rogue Employee” in either the office or the field who takes advantage of the “Good Nature” of the owners. Owners trust their employees and most of the time employees trust their owners. Review the concept of leveling. It will help your Contracting firm grow and attract the right office and field staff. How Leveling Up Can Make You Wealthy! Your Thinking Patterns - and what you think about the most is why you are where you are now. It is worth noting there is no profit in chaos and the sooner you understand that, the better off you will be including your mental and physical health. It May Be Too Late - To recoup past losses from chaos, but it is not too late to stop it from happening again. To begin with getting a clear understanding of What Ten Minutes Costs Your Contracting Company and begin implementing a Business Strategy to eliminate chaos. When You Have - A Business Strategy everything changes in your life and your construction company because you will see everything in different light You May Find - Yourself with a different caliber of friends because of the leveling up process. Birds And People - Flock together with others like themselves because it is comfortable. It only makes sense to soar with eagles rather than keeping your head down pecking on the ground with the chickens. Your Income - Is typically within 20% of the average of the six people you spend the most time with.  Leveling Down - If you spend most of your time at the “Contractors Business Round Table”, this is a little round table in a tavern with a pitcher of beer and several contractors all earning $40,000 a year or less telling each other how to run their businesses then your income will hover between $32,000 and $48,000 (20% plus or minus $40,000). Leveling Up - As you develop your Business Strategy for your construction company your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different. You Will Attempt To - Share your discoveries with your existing friends, and you will quickly discover they are not interested! After a while, your constant attempts to change their paradigms will irritate them, and you will drift away or be asked to leave. The Next Thing - That normally happens is you will be drawn into a different circle of construction business owners who already know what you now know. Since The Six People - You spend the most time with now are earning $100,000+ a year what do you suppose your income? There is a good chance it will grow, and you could have a million dollars of wealth someday. Einstein Has Proven - Energy and matter are the same things in different forms; therefore you will become what you think about. And what you think about will influence your thoughts, which will influence your actions which will influence your wealth, which you will use to raise everyone's standard of living because the Rising Tide Raises All Ships. This Applies To Your Employees - As well as you. Top notch construction companies are always on the lookout for the best and the brightest staff to add to their team.  Hiring employees is like letting your kids go visit their friends alone for the first time. Or a teenage driving the car the first time. Parents know that the process of a teenager can lead to a few dents, several curbs being run over and a branch or two missing from a few trees. Most also parents know if they are teaching their kids to drive with a “stick shift” that a new clutch may be in the near future. Why, because it comes with the territory when teaching someone how to drive.   For business owners giving an employee the keys to a vehicle, loaded with tools and equipment can cause those same anxious moments. Every new hire causes a certain amount of breath holding, first hour, two hours, will they come back from lunch, make it to the end of the day. Come back the next day.   At the same time, owners are evaluating the work performed, is it too much, too little, good training, not enough training. Is it the new employee a “good fit” for the company and the existing employees? No one feels worse about a bad fit than the contractor when any employee needs to be let go gently or immediately fired. Other times anger is the first emotion when Fraud, Side Jobs or other forms of theft has occurred. Feeling bad is quickly lost if the State Agency feels that the theft wasn’t really theft, but it was a “victimless crime, ” and the Contractor needed to have provided the employee in question with better-written coaching reports. For The Contractor, the work must go on. Schedules need to be kept, and the additional workload falls on someone. That someone is The Contractor, spouse and or both (who are already overloaded with tasks). Frustration comes from trying to discover quickly and easily what was left undone, what is the most critical, when can it get done, how to get it done and who is the best person to do it (yesterday). We have all had employees we wonder why we hired them. We have all had employees who were a key member who went above and beyond, and we are sorry to see them go. Really, if we could keep them until they are too feeble to get around and we would figure out how to make their job easier.  They are someone we would classify as a friend and part of the family. All those same experiences can happen when hiring actual family members. Employing family, both the good and the bad can happen. Some contractors are happy never hiring employees. They work well with a group of Trade Contractors and complete the work seamless as a team effort. Many small contractors have friends who are in the same trade. Solution to having employees is that they work for each other. On any particular job, a different Trade Contractor may be the lead (general contractor). This can be a great way to have quality tradesman doing the work but as subcontractors instead of employees. Contractors understand quality, scope and time.  They are willing to work efficiently.   We work with Construction Contractors all across the USA including Alaska and Hawaii. Process payroll using Intuit’s Online Payroll for Accountants on a case by case basis. With or without employees we are happy to be of assistance.   You have a story, and I want to hear it.   Call me 206-361-3950 or email me [email protected] and let’s chat. Sincerely, Sharie DeHart I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.   You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected]   Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Successful_Contractors_Employees_Produce_Results

This Podcast Is Episode Number 0224 And It Will Be About Unique High-Profit Contractors Need Value From Their Accounting Software Price Vs. Value A Cheap Price does not always give you the “biggest bang for the buck” as the saying goes (author unknown). One of the reasons that we all like unit pricing in the grocery store is that it helps us determine which is the best value when deciding between sizes and between the store brands. Take for example ice cream. There are several main types: Labeled as Non-Fat, Low Fat, Reduced Fat, Sugar-Free, Creamy, Deluxe, Premium. A quick search on the web shows over 100 flavors is available.  We all have our favorite brands. I am a Creamy, Deluxe, Premium double chocolate fudge or dark chocolate usually costing a zillion dollars per ounce and an equal number of calories. Randal and I have brands and flavors we both like, and some flavors only one of us like. Thankfully our Ice Cream budget increased over the years. A low price was important back when we were “starving students” going to college.          Unit pricing does not take into consideration of the quality of the product.   I can explain why I believe QuickBooks Desktop In The Cloud is the best value with the most features and why every Construction Contractor from Handyman to Trade Contractors to Home Builders should buy it. If you are in the “starving student” phase or your Contracting Company, then everything is too expensive. QuickBooks Desktop comes in (3) sizes. Pro, Premier, and Enterprise.  Each size grows is a little more robust. Think Trucks, S10 Pickup, ½ Ton Pickup, ¾ Ton Pickup, 1 Ton Pickup, 2 Ton Truck, Motor Home or Semi. The size of Boat your S10 Pickup can tow is quite different than what your 2 Ton Truck can tow.   Contractors would be very offended if I said: “What is the big deal?” A truck is a truck, is a truck when in reality I know they are not the same. Each size of Truck has a useful application.  Same thing applies to Accounting Software. There are 1,000’s of Construction Accounting Software Solutions in the market. Price points start out at free and grow to much higher prices for specialty software. Which do you need?  QuickBooks Desktop is a good economically priced software that is proven and easy to use for both the Contractor and their tax accountant to do the annual taxes. Easily available at every office supply store, Costco, Amazon.com and other local merchants. Recommend buying a copy “In The Box” with a CD. Occasionally I have someone who says that the QuickBooks Desktop is “Too Much.” I understand their thinking. Price is King! Unfortunately, If you are more concerned about price than the value of good reports, Annual Insurance Audit, State Sales Tax Reports and State and Federal Tax Returns then you will experience the pain of false savings. What you save on buying QuickBooks Desktop you are likely to spend at least 100X more in fines, penalties and overpaying your taxes. Looking at anything from a cost standpoint instead of the Total Cost Of Ownership (TCO) puts a lot of good Contractors on the road to ruin. The Desktop Version of QuickBooks is updated for a period of (3) years. You own the software, and if you do not use payroll, merchant services or email from the program, you may get additional life out of the program. The data is never lost unless the program has become corrupted, crashed or your computer that it is resting on has died.   Online versions are “Software As A Services” on the cloud is a great feature. The issue is that when you stop paying - your data if it is not backed up by an external source, will expire. In other words, you are RENTING the software. No different than renting a tool from your local rental shop. When you turn the tool back in you no longer have access to the tool. Some companies for a period of time will allow you to access the file, but at some point, the data and documents expire.   Looking at the Hard Cost of Software: QuickBooks Desktop Pro 2017 Small Business Accounting Software [PC Disc] Price $179.99 QuickBooks Desktop has a typically supported life span of 36 months this equals $5.00 per month. Reasons contractors like Cloud Based Software is to have mobile access to the program.   We offer Cloud Based Services where you can have your QuickBooks Desktop (PC Version) in the cloud which allows you to access from your PC, MAC, Tablet.  A little difficult to use via the phone based on screen size. QuickBooks Desktop Can Be Used With Larger Multiple Monitors We supply our Professional Construction Bookkeepers with at least three 42" monitors You can use most newer televisions as a computer monitor via HDMI You can open multiple screens at the same time You can view multiple built-in reports at the same time You can view custom reports without eye strain We offer Customized Setup of QuickBooks Desktop Version Visit FastEasyAccountingStore.com for Ready Made QuickBooks Setups and Chart of Accounts Visit FastEasyAccountingStore.com for enhancements to your QuickBooks file (IIF format) Looking forward to being of assistance. Enjoy your day.   Sharie 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 [email protected]   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services Additional QuickBooks Templates, Resources, And Services   QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Unique High Profit Contractors Need Value From Their Accounting Software

This Podcast Is Episode Number 0223 And It Will Be About  Contractors Are In The Business Of Being In Business   As A Contractor You Are Either Getting Paid, Paying Someone Or Both Contracting Is All About The Money And Taxes Which is better for you, Employees or 1099 Contractors? In the world of the State and Federal Agencies. Someone who works for you is either an Employee (on W-2) or a Subcontractor. You need to be issued 1099 at the end of the year, and you need be able to prove they are legitimate Subcontractors! What we sometimes forget is the personal side of our life and do not realize we have employees. Nanny tax is for any household employees that you have for yourself, the obvious is the Nanny who provides childcare. It also includes a Housekeeper (unless using a licensed maid service). Reminder from Tax Accountants is the Elder Care market. If you have an individual who is caring for an elderly parent (they are subject to Nanny tax unless you are using a licensed service.) Do you have support people? Are they making your life easier or are they a risk to you and your Contracting Company? Support People: Are your support people working for you just to make a little money on the side? Who is the Person who cleans the office? Who is the Person who keeps up the landscaping? Who is the Person who works as an Admin Assistant and runs errands? Next step is what may seem like a nosy question. Does this person have multiple clients? If anyone is working for Just You; then the State Agency is going to say they are your employee.Once the State Agency determines you have employees – Payroll taxes are due. Just a friendly reminder – State Agencies talk to the IRS.  States across the country are explaining to Construction Contractor that the person they hired as a 1099 Contractor is actually an employee.  If neither of you wants to have them be an employee – then they must have a business license, business cards, website, using an outside bookkeeping service and anything else that shows they are in business.  Each state is different regarding Contractors Bond, License, and Liability Insurance. Some states want Contractors to start out with a Handyman license (which restricts work based on dollar amount of the invoice) and then moves up to a full contractor’s license. In Washington State – Contractors are either a Home Builder, General Contractor or a Specialty Contractor (Trade Contractor which is limited to individual trades). Some occupations do not require a contractor’s license. Another difference is whether a Contractor must take a test to be licensed. Since Washington State is a sales tax driven state (no income tax), Who is required to collect sales tax? Plumbing, Electrical require individual licenses which depending on the state maybe receptacle with other states.  Temporary Labor. If you only need someone for a few days, it might be better to use a Temp Agency.  The rule is that Casual Labor is $600 or less per YEAR. Sometimes contractors think it is $600 per quarter.  If someone is paid more than $600.00, they need to be a W-2 employee on payroll or a subcontractor.  More states are adding more and more company paid benefits to employees. The name of the benefit, definitions and each state’s requirements vary. Smaller companies may be exempt from providing some benefits. It is necessary to “Understand” which Paid Off benefits are mandatory; the exact benefit name. Paid Time Off may include one or more of these:  Family Leave Personal Time Off Sick Leave Vacation Time Electronic Time Cards Are Important No Matter What Size Your Construction Contracting Company Electronic time cards mean the office can stop chasing employees for timecards. Owners time should also be on an electronic timecard; especially when tracking jobs with T&M billings. Nothing is more frustrating than having an employee guess where they were last week. What job were they on? What time did they start? What time did they leave? Did they incur Overtime? Do they have multiple pay rates for work, travel? Do you pay travel time? Detailed reports can help with Job Costing, billing. GPS feature can help properly route calls to save time and fuel. (Verify employee is where they are supposed to be)   Most employees have a Smart Phone and a data plan which allows texting.  With an electronic timecard, employees can log in, clock in, change jobs, tasks, clock out easily, quickly and efficiently. Get It Done Now! Receipts can be uploaded immediately and turned into the office later.  Better yet – No one has to read scribbled handwriting and misspelled words will be reduced as spell check, or auto correct software is an easily available and affordable app everywhere.  With paper timecards “Buddy System” for clocking in and clocking out may be a problem.  In restaurants going on break and forgetting to return can be an additional issue.  Even the most productive employee needs processes and procedures to feel secure.  Great Employees want to do a good job, want to be paid what they are worth. It is unfair to the “Great Employee” when a “Bad Employee” is abusing the system. Remember to do written coaching reports.  In the most simple terms, a Paper timecard is all about trust that the employee is where they are supposed to be when they are supposed to be and the office can receive the timecard in a timely fashion, be able to read the timecard, process the timecard and pay the employee. Easy Right?  Summer time is here and hiring part time help is easy. Remember if your part time help is Under 18-Year-Olds you need to register with your state. The Under 18-Year-Olds have special Child Labor Laws. Hours Worked Pay Rate Types Of Worked that can be performed.  For every employee even for the Under 18-Year-Olds need to be on payroll with taxes being withheld.  Contractors are so busy doing the work that regular paperwork is a challenge. Keeping track of all of the HR (Human Resources) functions is just another burden. Recommend using a 3rd Party Payroll Service. Why? It’s Clean and Tidy. (One stop shopping for a whole group of HR and Tax Services)  Many of 3rd Party Payroll Services have a built-in HR component. By adding HR component, you may be able to add additional services such as Medical, Dental, 401K. Depending on the level of service the 3rd Party Payroll Service has electronic timecards, job costing, prevailing wage reports. The automatic items: Create and mail out W-2’s File W-2 with Social Security Department Create and File 941 Quarterly Reports, Create and File State Unemployment Forms, Create and File State Income Remittance Track and Pay Child Support Track and Pay Other Garnishments Pay State Unemployment Pay State Income Tax Workers Comp filing is depending on the individual state More states are requiring PTO (Personal Time off) Sick Pay Vacation Pay Family Leave Time Do you know what the individual rules are?  Do you know what minimum wage is?  Seattle has a higher minimum wage that the State of Washington. Seattle requires PTO for employees traveling into Seattle on a limited basis (example delivery drivers)  Across the country, other individual cities can be just as challenging.  The Labor Laws when you were a new employee on that first job is not what the rules are now.  Do you want to guess what the Payroll and Payroll Tax Rules are?  The 3rd Party Payroll Services – know the employment and tax rules for your state.  Why? State and Federal Agencies must talk to the 3rd Party Payroll Services. You or me as individuals it is much easier to be given the runaround. If you need help – they are there to help you.  Depending on your situation Fast Easy Accounting provides payroll services using Intuit’s Online Payroll  If you have more than a couple of employees; recommend working with 3rd Party Payroll Companies who knows “What To Do” when you “Explain Your Situation.” Our Favorite Payroll Processors: Gusto  Paychex ADP Everyone is embracing Cloud Services. We are looking to improve our services and processes every day. Adding internal software to help us be more efficient and are looking for a cloud-based software to help you be more efficient and same time every day. What do 10 minutes cost you?  We Support QuickBooks Desktop Version In The Cloud. Sometimes people get confused about our services of using QuickBooks Desktop in the cloud and QuickBooks Online. The two versions are not the same software. FAQ about QuickBooks Desktop Hosting (Cloud Computing) Isn’t there a remote access feature already built into QuickBooks? Yes, In QuickBooks Premier Only - It has remote access feature as part of the software; however, only one user at a time may take control over one remote computer. A user must be physically present at each computer to set up a session. This is O.K. for training demos or financial presentations when speed is not important due to the lag time between pressing a key on the keyboard and waiting for the result to appear on the remote computer. Finally, it is very expensive in labor cost to use it for remote bookkeeping. QuickBooks Online does not have all the full features of QuickBooks desktop, but can't we install some web plug-ins?  Some Missing QuickBooks Desktop Features - Are available through plug-ins if you have the time, skill and desire to maintain and update them; however many of them are not available. What is the difference between your hosting service and using QuickBooks on my desktop or notebook? None, No Difference - Because QuickBooks is hosted on a secure server, you will be using the same version of QuickBooks no matter where you log in. And in some cases, since you may see an increase in performance in your local computer since all the "heavy lifting" of QuickBooks is being done on a powerful server. Learn More...   Yes! You can absolutely use your Mac Computer! There is a simple download, and we have technical support available to assist you with getting it setup if you need help What about printing and emailing from QuickBooks? You can print and email from QuickBooks just like you are doing now. The remote server will detect whatever printer you are using on your computer now, local or network printer, and it will print to it. You can change printers inside QuickBooks remote just like you are doing now and the remote server will print there. Everything is Fast and Easy! With your QuickBooks hosting provider, can I still get a physical copy of my files? Yes! You can download your company file anytime to create a backup copy on your local computer. QuickBooks Online does not offer this service. How does QuickBooks Hosting simplify my desktop computer and notebook computer maintenance?  With QuickBooks Hosting - You do not need to install or run QuickBooks on your desktop or notebook. QuickBooks, Word, Excel 2010 are all running in a web-browser, and the hosting company manages all software maintenance and upgrades, automatically. What about backing up my QuickBooks file? The Hosting Company - Backs up the servers every night and that includes all your QuickBooks files and any Word, Excel, PDF documents you are storing in your account Which Hosting Company does Fast Easy Accounting use? We Use Whichever Company Best Fits Our Client's Needs: QuickBooks Hosting Company Must Haves: QuickBooks backup daily Fast, reliable network equipment Provides English speaking tech support Provides results not reasons or excuses Provides superior service and tech support Technical support issues are addressed promptly On approved list of Authorized Commercial Host providers Paperless Hosting Company Must Haves: Paperless documents backup Fast, reliable network equipment Provides English speaking tech support Provides results not reasons or excuses Provides superior service and tech support Technical support issues are addressed promptly We use QuickBooks Desktop in the cloud which makes the QuickBooks file accessible to our clients (optional) from anywhere using both MAC and PC products. (It’s like going to the bank and logging in) This system removes the need to move the QuickBooks file back and forth between the Contractor and the Accounting Office. All transactions are in the “Live” QuickBooks Data File where everyone has access to the information.  We move QuickBooks Online data file to QuickBooks Desktop. Once QuickBooks Online Data File (QBO) is moved into a current copy of QuickBooks Desktop, we can evaluate, update and cleanup the data file. We Do “A Little or A Lot” depending on your needs.  Let us help you. By following the system and providing documents to us, you are helping us help you: Setup QuickBooks Desktop File CleanUp existing transactions, Enter in missing transactions Provide ongoing bookkeeping services Leave QuickBooks file on server Return QuickBooks file Train, Consult, Mentor as needed. In a rush? Want to do your own QuickBooks File Setup (US Version) Chart of Accounts or add Item Lists to your existing QuickBooks Desktop File (US Version) – Visit FastEasyAccountingStore.com. 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   Products that are “IIF file” work with other QuickBooks Desktop Versions. All products are ready to use.  QuickBooks Files, Chart of Accounts and Item Lists are Instant Downloads after your order is received.  Support available if needed to install on your computer or merge into your existing QuickBooks File.  Every day being a Contractor is stressful trying to get everything done that needs to be done. Here Is Wishing You And Yours A Happy And Safe July 4th Celebration! Sharie 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 [email protected] 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   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 [email protected] 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 I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs   This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Are_In_The_Business_Of_Being_In_Business

This Podcast Is Episode Number 0222 And It Will Be About Uniquely Highly Profitable Contractors Target High-Profit Enjoyable Clients Every Construction Contractor Has Clients Who Want To Help Part of the reason is that they want to be sure the project is moving and things are being done. Other times the goal is to hopefully save money.   In many cases, the most helpful thing a client can do on a project is keeping the area clean, pets under control and children out of the way. Anything other than that and you, the contractor could be at risk of losing everything you own or ever will if your client or customer is injured while working on your construction project even though it was their home or business. There is a reason why most automotive repair shops have a sign like the one shown below and as a construction contractor, you would be wise to have signs professionally made and use them on every construction site. Each type of construction has its own challenges but the overarching answer is to always give your clients what they want, not what you want. Wake Up To An Overflowing River Of cash flow and profits beyond anything you have seen in the past or continue sleeping on the hard mattress of regret under the cold blanket of lost opportunity by refusing to change old tired worn-out wealth limiting habits that are keeping you from your best. Right Or Rich Everybody picks one or the other to a degree because nobody can do both for very long. Pick one on purpose or the other by default. The more important it is to be right the less you will be rich and the reverse is true. I Have Asked Thousands of homeowners, commercial property owners, landlords, commercial space tenants and even a few car buyers, computer buyers, ship buyers and consumers about their overall buying experiences and one common thread appears over and over; they got what they wanted and were happy repeat customers and clients who refer their friends and family or they didn’t get what they wanted and made the contractors life hell. My Sales Script Book Has hundreds of questions that are continually honed, polished, updated and replaced from which I pick and choose the ones to use depending on the situation. Develop Your Own Script Book And Record the questions and answers that you find encourage people to open up and get to the fourth level of truth because when you do the service you will render will be far in excess of the money you earn. The Two Most Powerful Questions: What are your most important criteria in making a purchase decision? What is the one thing you remembered about your purchase? Question #1 Most Common Answer "Price" because for most people it is a conditioned response they learned early in life. It is similar to ringing a bell; it gets people's attention; Stimulus & Response. If you ever get mugged, and I hope you never do; yell "FIRE" because everybody wants to see a fire but very few people will respond to a cry for "HELP". Question #2 Most Common Answer "I could or could not get what I wanted!" There is a lot of money making power in this answer and it does not come fast or easy. In fact, in most cases, it takes a while to get to it...because: Truth Is Four Levels Deep: What people want to hear What people want to believe Everything else out in the world The Truth of what they really believe If Your Construction Company has annual sales volume of less than $1,000,000 and you want to double, triple and quadruple your cash flow and net profit pay attention to these tips: Listen With Empathy And Understanding because this one of the most valuable gifts one person can give to another person is to listen and let someone speak until they are finished. Poor communicators make deep noises from the chest sound like important messages from the brain have a captive audience and it is 180 degrees opposite of truly listening. Ask Good Questions When your construction customer or client makes a point about something that could be important wait until an appropriate break in the conversation and ask for clarification. For example, the new deck needs to be really strong...could be an important point...perhaps they entertain a lot of sumo wrestlers or professional football stars...show you care by asking. The preceding examples could save you a lot of money by not under-building something and in fact, could make you a lot of money with add-on sales. Be A Keen Observer Detectives make a lot of money and the best ones have a keen eye for observation. Much can be said about this and I recommend you read the book "The Millionaire Next Door" by Thomas J. Stanley and William D. Danko. In All Of Our Construction Companies We Had Several Repeat And Referring Clients One particular client lived in the Magnolia neighborhood of Seattle. A sweet little old lady on a "Fixed Income" that we did a substantial amount of work on her house. Every Time, Like Clockwork when one of our Construction Service Professionals would quote a price for a new project she would almost break down in tears. Her voice would crack and her face would take on the saddest look you have ever seen while she talked about how she may have to do without something special in order to have the work done. The funny thing is whenever I would see her at a social event I would ask how she was able to survive on a "Fixed Income” of more than $8,000,000 a year. Her response as always, "It is not easy but thank goodness the house and car are paid for and I have no other debts”. We Did A Lot Of work For her and her friends and neighbors in the area and they were all raving fans! Why? Because of Listening, Questioning and Observing and always, always, always giving a little more in value than we took in dollars. The key is always give a fair price that ensures your company will earn a handsome profit and hire professionals to do excellent work. If You Own A Small Construction Company, brand new or been in business a while, we have a special consulting offer that you may be interested in...Click Here To Learn More New Construction is clean work. As suggested in the name “New” The Construction is all New. Everything from underground to the roof is all new bundles, pallets, cases of material from rough in to trim. It is clean tidy and fresh. Remodels are an entirely different story. It is taking the Old and tearing it out and making a new start. The challenge is marrying the two together and making it all work. Another difference is the people involved in most new construction projects it has more of a Contractor to Contractor feel. The actual owner of the project will have limited contact with the individual contractors on the project. New Construction Custom Homes and Remodels is all about the homeowner and what does the Homeowner want? Do they know what they want; or is it an idea that the General Contractor has to translate into Construction-Eze for the other contractors on the job. Residential Remodels may have the homeowner living in the home while the project is going on. If so this may include children and pets. Service and Repair Contractors definitely have a higher chance of dealing with children and pets. Everyone thinks children and pets are adorable except when they are running around getting into the tools or in the case of pets trying to escape outside every time the door is opened. It is hard to ask the client to put their pet in another room or a carrier; and suggest the children be in another part of the house or off playing at a friend’s house. Clients understand the challenges and will automatically look for solutions. Customers typically do not care unless they are paying “By The Hour” for services. The more skilled you are in your trade the easier it looks to outsiders. Because it looks so easy the customer wants to help or have you teach them what to do. So How to you nicely explain – Their help is not helping? One of the ways is to give them “Busy Work” – something that benefits them. Years ago we were in Construction (which explains how and why we understand your world) Every job has a certain amount of cleanup and debris that needs to go away at the end of the job. Randal’s favorite was to suggest that since the truck was going to the dump anyway. “Did they have anything they wanted to get rid of?” Customers loved this because maybe they did not own a truck, or needed a second set of hands to load something bigger.  Most importantly – they would spend quality time looking around the house and yard for assorted things to get rid of. This would keep them busy. And while they were busy; our employees could be busy working because at the end of the day the progress needed to be done despite any interruptions, What About Questions, kids and pets running around.  Other customers will ask “If I help” – will the project go faster and be cheaper. It most cases the answer is No – if the Contractor wanted a trainee they would hire one. Many contractors have additional help during the Summer, Winter Vacation, and Spring Break. (It is called teenager or young adults of the owner, family or friends who want a little spending money before going back to school) A more permanent solution is a “Trainee or Apprentice” who is starting out as a Gofer, Labor and working their way up to learning a trade or skill.   Most Contractors Like You Are Willing To Teach And Share Your Knowledge It is a very patient contractor who can deal with both “The Homeowner” who is trying to help and keep the project on track. There are exceptions to every rule. I can think of a New Construction Mixed Use Project where the owner was active on the project. He was the guy pulling nails, doing pickup work, picking up trash and other laborer type tasks as directed by the project manager. If you came on the site; you would not have known or guessed he was the owner.    Very few Contractors are skilled to be able to Flip back and Forth between New Construction, Remodel, Service, and Repair. Just because you can Flip back and forth does not mean your employees have the same skillset. Part of the reason you are able to do it is – You Are The Owner! You Are Motivated To Take The Call, Do The Estimate, Close The Sale, Get The Work Done, Invoice The Customer, Get Paid, Put Money In The Bank, and Pay Your Bills. We have taken the same principals learned in Construction and translated them to our Accounting Practice. We want for you to do the parts that only you can do. Believe me, that is a lot. Take The Call Do The Estimate Close The Sale Get The Work Done Invoice The Customer Get Paid From The Customer Put Money In The Bank Pay Your Bills. Our Part Is Setting Up Your Contractor Bookkeeping Service System And Doing The Data Entry. We are a production shop with a Contractors Bookkeeping System That Works know what to do, how to do it and do it quickly and efficiently.  We have processes, procedures and know what software works well with each other. We try to “KISS” Keep It Simple Silly. Why because Construction Accounting is harder than regular bookkeeping.  Never Let Anyone Outside The Owners Of Your Construction Contracting Company Access Your Money! There are lots of stories about “Bad Bookkeepers” who is given too much authority and too much access to the Contractor’s money have embezzled a lot of money and have never been held accountable. Know the signs of the Bad Bookkeeper: Bad Bookkeeper Tell Tale Signs   They train the contractor like an organ grinder trains a monkey, click here to learn more They refuse to invest time and money in continuing education because they know everything They are passive aggressive and will study you and your staff to learn how to manipulate everyone They are masters at gaining power over you, your staff, and new employees and outside suppliers They hate change and will fight tooth and nail to stop it or they will destroy your company They know you're responsible for taxes, fines, penalties, and interest; so this is where they get even They know how to increase your quarterly tax return costs, click here to learn more They understand that bookkeeping is 90% repetitive transactions and 10% complex transactions They don't know what to do with complex transactions, so they put them wherever they feel like They have side jobs working for other companies or an entire bookkeeping business on the side They decide how much integrity if any, your company has and they tell everyone who will listen They create a miserable work environment causing turnover in your staff which costs you money They make your customers and clients feel unwelcome and unappreciated which costs you money They act as if they are serving time in jail and do the minimum required to keep their job They say things to suggest businesses are bad and construction company owners are the worst They are jealous of your success and even more so if they ever had a failed construction business They don't learn anything new, why should they, nobody is reviewing the QuickBooks They never learn anything new unless the company pays for the training and it is on the clock They quit when the tax return is being prepared because QuickBooks is a mess and they're caught They come in a little bit late every morning and leave a little bit early to make up for it They bait you with drama, nasty comments and minor actions to find your tolerance limit They get even with you for every perceived injustice against themselves and society as a whole They keep you busy with lots of mindless crap to divert attention from why the books are a mess They let you think you are in control of the bookkeeping and the bookkeeper until it is too late They make you think they are looking out the best interest of the company, LOL! They let the work expand to fill whatever time you are willing to pay them to get it done When they quit or get fired expect to hear: “Chaos, panic and disorder...my work here is done” They become indispensable in order to take time off whenever they please and hold you, hostage They negotiate for additional perks, benefits, changes, and elimination of personal accountability They network for a better job with your clients, suppliers, vendors and your competitors They represent themselves to outsiders as the owner or manager with decision-making authority They text, message, e-mail, surf the web, chat on the phone and socialize on company time They train you to leave them alone by getting upset or angry whenever you want anything They work hard at causing just enough chaos so owner does not earn more than the bookkeeper When your business fails they tell everyone you were incompetent and they saw it coming They live in a chaotic, neurotic, psychotic, selfish, disorganized, blame game environment  They work through lunch to leave earlier in the day (At the office for 7 hours and get paid for 8) Question - What happens when the person in control of QuickBooks is unhappy with you? Answer - The same thing that happens when the person who cooks your food is unhappy with you! In The End - Bad Bookkeepers leave contractors like you with unfiled and unpaid taxes, gasping, upset, with tear stained checks, wide-eyed, stupid, mouth open, standing in the middle of the highway of business success staring at the remains of your business, crashed, rolled over, upside down, in the ditch, on fire, with flames belching from all sides with no hope in sight. And then things get real ugly as you recall reading The General Contractor And The River Of Construction Commerce and realize all of this could have been avoided! I have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases, it was Bookkeeper Incompetence or Bookkeeper Embezzlement and in other cases, it appears to me there may have been some deliberate identity theft; however, I cannot be certain. All I know for sure is that I have witnessed business failures that have led to divorce, families destroyed, finances wiped out and people living on the streets. In a few extreme cases, I know of contractors that have taken their own lives and it needs to stop! Because We Have Owned Construction Companies We Understand “What You Are Doing” And How To Help You.  When you explain you do we know what you are saying. When you ask if you should collect a Job Deposit – our response is always Yes you should be.  When you say you are having issues – We Get It And In Most Cases, We Can Suggest A Workable Solution.  One of the many challenges contractors have is the balance of information.  What To Know When To Know It Why Do You Need To Know IT A couple of tips about Construction Accounting If it is too complicated, it won’t ever get done and if it does you are too exhausted to learn what the answers to the questions that started the whole process. A little information is as bad as wanting too much. Tax Accountants only focuses on what the IRS wants and needs to know. Your tax accountant rolls the numbers up to do the annual taxes. If any individual job is profitable is not one the thing that is needed to know by anyone but you. As a contractor how useful is it to know How many 2x4’s were used on an individual remodel? Will that information tell you anything that is helpful for the next remodel?  In QuickBooks Desktop Job Profitability Reports are easy to accomplish. Estimates vs. Actual Reports In QuickBooks Desktop Version take a lot more effort on the part of the contractor (Unreasonable to expect office staff | spouse to look at a lumber slip and know what phase of the project to code it to) Everything needs to be coded, every single piece of paper and most contractors get too busy to do this and the pile grows higher and higher. (I can see it from here) Messy paperwork is the biggest and most common challenge for any contractor. Paperwork is so easy to get out of hand. Because of this, our clients love every time we find a new solution that is helpful to them. One less thing they have to touch, handle or over handle is a good thing.  We help a Little or Lot depending on your needs.  For Do-It-Yourself Bookkeeping solutions go to https://www.fasteasyaccountingstore.com/ Call me if you need assistance in choosing the right product for your needs at 206-361-3950. I am also available to chat about other issues with your Free One Hour Consultation.  Looking forward to being of assistance Sharie 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   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 [email protected] 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? Click On The Button Below To Download A Free Guide    Business Process Management (BPM) For Contractors Need Help Now? Call Sharie 206-361-3950 [email protected]   Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services We Are Xero Accounting Experts Specializing In Construction Bookkeeping Services   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 [email protected] 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                                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Highly_Profitable_Contractors_Target_High_Profit_Clients

This Podcast Is Episode Number 0221 And It Will Be About Contractors of all sizes must be adaptable to change Every time the phone rings you need to be willing to question what do they need are how far are you willing to drive to bid the job and do the work. Some types of work accepted or rejected may be based on the location of the job or by the state license. When starting out one of the first decisions to be made is “What Type Of Contractor Am I?” This decided during the process of the contractor talking to the Bonding Company, Insurance Company and The State Licensing Board who approves the company’s Contractors License. The Primary Questions to be answered are: What level of exposure, risk and your skills? How do you want to do these projects? Are you most comfortable being a Handyman? Are you most comfortable being a Trade or Specialty Contractor? Are you most comfortable being a General Contractor? Are you most comfortable being a Remodel Contractor? Are you most comfortable being a Home Builder? The Four Types Of Contractors... Dog And Pick-Up Truck This Wonderful Soul - Has a heart as big as the outdoors and likes working alone. They are easy to get to know. They usually have either a pick-up truck or a van with a dog sitting in the passenger seat hanging his head out the window watching and occasionally barking hello to folks and other dogs while feeling the breeze as the contractor zooms down the road. They Do Not Think About - Retirement and when asked about it the reply I get most often is something like “Retire, nope, I don’t need new tires yet”. These Contractors - Enjoy being their own boss, doing what they want when they want, how they want and works hard. They typically do not feel the need or desire to grow the business or hire employees since they would only get in the way. Most Of Them - Run their business as a sole proprietor They Generally Earn - $20K to $40K a year after all expenses   Salt of The Earth This Wonderful Soul - Also has a big heart; just not quite as big as all outdoors. They like having employees because they do not want to work alone.  As their business grows they like to take time off and enjoy travel and vacations. These Contractors - Have one, two or three employees because when the employees get out of line the contractor can hold two of them by the throat; one in each hand and eyeball the third one!  This is called “Construction Management” This Group Will Usually Invest - Some money to build a retirement nest egg. Most Of Them - Operate their business as a C-Corporation, LLC or Sub-S They Generally Earn - $40K to $60K a year after all expenses   The Professional This Wonderful Soul - Also has a big heart; they just tend to keep it under cover. This group tends to have more employees and have a structured approach to their construction company treating it more like a firm. These Contractors - Tend to have 1-20 employees with formal organizational charts, processes, and systems in their contracting businesses including a formal documented business plan which is updated and reviewed regularly with a board of advisors as outlined in my article on the subject. They Invest Heavily In Marketing - Their businesses. They understand their target market, they use The 80/20 Rule to understand the demographics and psychographics of their prime customer, the ones who generate 80% of the cash and income. And they seek to acquire more of them and will do whatever is economically feasible to turn those customers into lifetime repeat business. This Group Usually - Engages the services of a competent financial planner, banker, and accountant to work together in helping plan and develop a financial estate that can take care of them in their senior years and be passed on to future generations. Most Of Them - Operate as a C-Corporation, LLC or Sub-S or Partnership. They Generally Earn - $100,000+ a year after all expenses   The Enterprise Level These Construction Firms - Have 100+ employees and generate enormous revenues. Most of the owners and managers earn about the same as a well-run professional contractor. In a lot of cases, their life span is shorter than any of the other contractors due to the enormous stress they suffer trying to navigate their construction companies through the ups and downs of the Business Cycle. The Managers Deal With Issues - That are beyond anything the previous groups even think about, including labor unions, government oversight, massive risk and are constantly under pressure to increase shareholder value at any cost. Seagull Management - All too often a board member or powerful outside influence without a clear understanding of all of the moving parts involved in running this type of company feels the compelling need to fly in, crap on everything and everyone with their crazy ideas and fly out leaving a disaster to unfold. Then when things go bad the managers are the ones most likely to pay the price. The Odd Thing Is - It always looks like a fun job until someone gets into it. Having worked with a few of these firms I understand the enormous pressure they are under and have decided my life is too short to spend one more minute with them. All I can do is pray for the managers and ask that all of them will receive divine guidance to stop them from making a long-term decision like suicide or worse, based on short-term problems. I Am Sincerely Concerned - About the health, wealth and spiritual well-being of all contractors and have found the other three types of contractors to be well grounded spiritually; however, since I am aware of the special challenges of running an enterprise construction company I sincerely ask you as a friend; someone you may not have met, and may never meet on this plane of existence, that you will seek the goodness of an everlasting and ever loving God, whatever you conceive him to be, so we can meet in the future in a better time and a better place.   If You Are A Contractor - It is not about the type of contractor you are, how many employees you have or how much money you earn. It is all about life, liberty and the pursuit of happiness. Be the type of contractor that suits you, do the work, you will have results and enjoy yourself. The Final Observation - I will share is that you deserve to be wealthy because you bring value to other people's lives and do not let anyone tell you differently. The rules for contractors vary by state. In several states, it is the size of the job that dictates the type of license is required. (Everyone can start out as a Handyman and work up to being a General Contractor). Specialty licenses are required for Plumbers, Electricians, and others. Again – Plumbers and Electricians start out as “apprentices” and work their way up to “Journeyman status” What Type of Construction Work Do You want To Do? Residential Commercial Tenant Improvements Service and Repair New Construction Remodels   Once a contractor figures out “What he or she wants “To Do” the next step is consulting your State Requirements” (and skills). Next Decision: “Where Do You Want To Do It?” (Location, Location, Location) Big City Medium City Bedroom Community Large Town Small Town In the Country In a small town, you usually have to travel farther to the jobs. In a big city – it is not practical to spend hours of windshield time versus choosing closer jobs. In bad traffic, the travel time could be the same. Travel Time is part of overhead and Not Billable To The Customer. How far do you want to travel? How far away will you drive to get to the job? How long are you willing to be “stuck” in traffic? Choosing the time of day can be as important as choosing where to travel.   Watching the news this morning it was saying between two cities (Seattle area) southbound on the freeway travel time was 82 minutes. Northbound between same two cities travel time was 23 minutes.   When a call comes in – you are for lack of a better term. “On the Hot Seat.” You want to say Yes, I will come to no matter what or where the job is. The reality that may not be practical. You are always doing a fast filter trying to decide to get more information about the job or have enough information to let it go.   Are you skilled to do what the customer would like? Is the job something you normally do?   Is the job the right size of job? Where is the job located?   If you have just finished a job and a neighbor down the street of that job comes over and asks you to come look. You are more likely to “Say Yes” I will see you next because you are right there. A small job might have the potential of becoming a larger project (you won’t know unless you go look). Even if the job is much smaller than what you usually accept. Again, you are more likely to “Say Yes” because you are right there. If that same person called and you were on a job 82 minutes away in bad traffic you may have a different answer.      Just starting out as a contractor. Then you will more than likely be more willing to take on all sizes of jobs. Contractors in smaller towns “Do A Little Bit Of Everything” from service and repair on leaky faucets to kitchen and bath remodels, to whole house remodels, to tenant improvements and new construction. Why are they so flexible? It is because the work is not so plentiful that they need to have a broad skill base and willingness to work on almost anything to make a “decent living.”   In the bigger city, they would be a “General Contractor.” In a smaller community, it is called being a “Generalist”. A word of caution about working for almost exclusively for a single contractor. Seems easy; if there is lots of work coming in, I’m asked “Why do I want to work for other contractors?   Short Answer: Taxes and Penalties. Every State Government (Worker’s Comp | State Unemployment) is looking for additional Tax Revenue. If you are working for a single contractor The State may classify you as an Employee. The penalty is issued and payroll taxes are due. Do what I call: Playing Within The Lines!   Explanation From Taxing Agency: Is that you have a Contractor’s License only to avoid payroll taxes Of course, once a State Agency determines you are an employee, the IRS will also want payroll taxes. The downside of working for a single contractor. Everything is great as long as you are getting along. What is the contractor suddenly doesn’t like you, decides to discount your invoices, refuses to pay you?   You could go from a situation where you have a stable contact situation to Oh Crap – Now What Am I going to do?   I recommend all small contractors (especially those who work primarily as a trade contractor) to find several General Contractors to work for as your primary source of income. Now – next step find other retail customers. Work your neighborhood, the neighborhood of existing and previous jobs. If you have only small bits of time – Great look for small jobs. Help the senior citizens in the neighborhood. Why – you are looking to increase your customer base (headcount). Need to document that you are NOT working for a Contractor of One.   Ask for referrals of other contractors. Everyone has jobs that are “Too Big” or “Too Small.” Working together with other General and Trade Contractors to find customers you can avoid being classified as an employee by a State, Local, Federal Government Agencies.     Another part of the rules to document you are operating a “real business” Advertise. Have a website, get business cards, hand out flyers. The next piece is to have an “outside accountant” (who has a business license). Again you are documenting you are in business and not working “under the table” as a 1099 employee.   Think, Save a Little, Plan a Lot. The economy always has peaks and valleys. No one expected the last recession to last as long as it did or impact as many people. Contractors were hit the hardest because it was a domino effect. Banks stopped lending; called loans due. Contractors couldn’t pay or get paid.   Many former contractors are just now thinking about going back into the construction business. In a former life, they had lots of employees and a full accounting staff. In many cases, contractors were left with HUGE debts and long-term payment plan to the IRS. I hear more from Contractors who “Had Issues” over Contractors who sold everything and have been “Coasting Nicely” these last few years.        Some Contractors who are starting over just want a “Little Help.” For them, gone are the days of High-End Accounting Software and a huge payroll. The High-End Accounting Software still exists. Contractors love the price of an under $500.00 one time cost accounting software but they may struggle with having to make the choice of having “fewer Reports” to work with.   What is not there is The Contractor who remembers the Pain of Yesterday having the willingness to immediately “Step Up and Purchase” expensive Accounting Software. When starting over – Going back to where these Larger Contractors were before is usually not the first choice and may not be feasible from a credit or cash flow standpoint.           Others are downsizing from Specialty Accounting Software to QuickBooks Desktop Accounting Software.   Another change I see is that contractors are looking for more Specialty Trade Contractors where before it was all “In-House Employees.”   As a Contractor, you want to get paid easier and faster. The answer is to have a Stand Alone Invoice or Web-based invoice that is easy to understand. Builders, General Contractors, and Homeowners just want to be able to easily understand your invoice and pay you. Customers want to pay using their credit card.   The harder is for the Customer to understand what’s due the longer it takes to get paid. Have you laid out a payment schedule?  Is it Due on Completion, By Date or By Milestone of the Project?    No one likes to receive a “story problem” where they have to figure out How Much To Pay You.   An example is using a “Long Winded Email” as an Estimate, Proposal, Invoice and Payment Receipt.   Yes – We Can Help! We Setup QuickBooks for more than 100 types of Contractors, enter in previous accounting from a mutually agreed date, continue with ongoing Bookkeeping needs. Use QuickBooks Desktop in a cloud environment, it is optional that our clients have access to the QuickBooks file. With our processes and other add-on software, we make it easy for our clients to send, access documents and reports.   Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 Other clients after their QuickBooks file is setup choose to stay on the Cloud Server, do their own bookkeeping and request an additional accounting, bookkeeping and consulting assistance as needed.    To be better able to assist, we have added our FastEasyAccountingStore for the convenience of clients who want to do their own bookkeeping and need additional Chart of Accounts and Items Lists to make their QuickBooks File work more efficiently.   Looking forward to being of assistance.       Enjoy your day. Sharie   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Highly_Profitable_Contractors_Continually_Adapt_To_change

This Podcast Is Episode Number 0220 And It Will Be About Contractors Are Skilled In Construction But Not Usually In Construction Accounting Almost every Contractor understands how to do basic repairs and remodels on a house.   As the project grows it gets a little more complicated. Is it a kitchen remodel, a bath remodel, upgrading the laundry area? Building a Deck? Adding a second story addition? Adding a garage? Your Construction Accounting System started small and easy. Perhaps you tracked everything with bank statements and Excel sheets and it worked fine for a while. Later as your Construction Company grew and you began to wonder where you are making and losing money (Job Costing) and you realized you need to better understand Construction Job Cash Flow you purchased QuickBooks thinking it was "Quick" and that is when the trouble started... Each type of project takes planning and skill. Doing a teardown and then building a new house? Oh, maybe the zoning does not allow for a new house so technically it is a major remodel keeping a certain amount of square footage of the original house.   A brand-new contractor without a background in larger projects typically is not going to immediately jump into a large remodel.  Someone who has done lots of remodels may not be comfortable building a new house from the ground up. Decisions in any project are what level of quality of the work, how much detail, the size and the material needed to complete the job Decides How Much It Costs.  Is a Cottage or a Mansion?          The area of the country makes a difference. For Example, a $500,000 house in one part of the country could be a two story, 4 bedrooms, 2.5 baths and a wraparound porch. In another part of the country, it may be a 3-bedroom rambler and a carport.      The cost of material may not be a lot cheaper in one area over another. The price of sheetrock and lumber increased in Seattle after Hurricane Sandy and Hurricane Katrina. Local labor may be different.   The skillset needs to complete the Handyman Repair, Installation of Plumbing, Heating, Electrical, Roofs, building the Additions on a House, creating a whole house remodel or building a new house are not the same as being able to track all of the expenses and do all of the bookkeeping properly. Construction Accounting and Regular Accounting require entirely different skill sets. With an Excel Spreadsheet, quite a lot can be done to know your costs and track the bills that need to be paid. Many contractors have done this for years. Turning in the spreadsheet and a pile of paperwork to the Tax Accountant to file the annual taxes.   If the Tax Accountant has worked with you for years; they understand your method and figure out a workaround.  Some will setup QuickBooks Desktop or some other software to create monthly, quarterly numbers leading them to the annual Profit & Loss and Balance Sheet needed to file your annual taxes   Your Banker is not quite so willing to do “try to figure out” your financials. They have a limited amount of time to make a presentation to a Loan Committee.  Financial Statements from QuickBooks make it easy for your Banker and the Loan Committee to compare financial statements between applicants. Some contractors have the benefit of being in a small town, where their banker has known them for years. The decision process is more informal.  As Bank Regulators have gotten involved with the decision process – what was a simple “Yes” decision may suddenly be “No”. A lot of Home Builders got caught up in that loop and lost property because could neither sell or refinance. Are you counting on “The Kindness of Others” (to quote slightly from a classic movie) for solutions to your lack of good bookkeeping? Sometimes it is harder to avoid doing something than it would be to find a qualified “Construction Bookkeeper” to do the Bookkeeping for your Construction Company.   Here is my parental side showing. Many times our kids would spend more time avoiding their homework, cleaning up their rooms, doing chores and explaining “Why It Wasn’t Done” or “Why They Shouldn’t Have To Do It” In many cases more time was spent explaining than it would have taken to do it.   As Construction Accountants, we understand there are “Too Many Tasks” and not enough time in the day. This is “Why we develop processes, procedures, use Software and app’s” to make it as easy as possible for our clients. As Contractors, it is not that you can’t do it but is it the “Highest And Best Use of Your Time” Wow – I’m positive you can enter in fuel slips into QuickBooks. Might be a better use of your time talking to a prospect, looking at a job, creating an estimate, writing up the invoice, or collecting The Money, going to the Bank to deposit the Money, paying your insurance, cleaning your truck and even sleeping. The Basics in our world is the Five Key Performance Indicators plus Job Costing. Sometimes a contractor is so busy trying to get super detailed that they miss the basics. I make recommendations on what I call Sharie’s Cash Management 101 – Get the Money. Think about the Five Key Performance Indicators like the dials on your truck dashboard. Washington State it is a sales tax driven state, is your state the same way? One issue Contractors discover is that Sales Tax is due at the time of purchase unless they have a Reseller Permit (issued by the State of Washington) Sales tax reports are due monthly, quarterly or annually. Some items purchased is considered “Consumables” – Suppliers have the exact list.   If a purchase is made on April 1st with sales tax paid to the source (supplier) and if the Tax Return is paid Quarterly – it is due on July 31st, therefore, sales tax was paid months earlier than necessary. ·    This impacts cash flow. ·    Failing to Get Job Deposits. ·    Failing to outline payment schedule with the client on larger projects. ·    (Paid Weekly, Bi-Weekly or by Milestone of the job). ·    Failing to send the “Notice To The Owner” and relying on the “Notice To The Owner by their Material Supplier” This is helpful but only to the amount of the material bill.   ·    Failing to get Signed Change Orders. ·    Customers versus Clients remember the deducts and have memory loss on the increases. Construction Bookkeeping is more than Balancing the Check Book (which is important) Receiving actual bills from your subcontractors. Have you set a schedule on “How and When” you are paying subcontractors? Is it tied to the same schedule you are billing your client?   Money In and Money Out. Just because you have money in the bank from the last project does not mean you should delay or ignore billing on your current projects.  Remember you have outstanding liabilities coming.   Here is what is coming:  Material Suppliers on 30-day accounts, Credit Card payment for purchases paid for, Payroll Liabilities, Sales Tax Liabilities, Worker’s Compensation, Liability Insurance, Vehicle Insurance.      Bigger costs like Vehicle Repairs, Down Payment on a newer vehicle.   That marketing budget for business cards, flyers, online advertising, upgrading or updating your website.  Adding GPS tracking, software, and your Construction Accountant.   It all takes money from someplace.   Even if it is from a line of credit; the bank wants to see financials not some scribbled notes on the back of a brown paper bag.   Frequently Asked Questions From Contractors: Am I too small for you to help? I am just getting started.   My answer is No - You Are Not Too Small.  We have a plan for the Brand New and Existing Small Contractors.     Shouldn’t I learn how to do all of my own bookkeeping before turning it over to you? My Answer Is No – It is not possible to be an expert in everything we do.   Learning what receipts to keep is more important than learning “How To Put Them Into QuickBooks When I hire you – Will do everything for me? My Answer Is No – You will continue to control the money.   We are here to help, but all final decisions on How Much To Bid the job. What, When and How Much to Invoice your client is your decision. Who to pay and when to pay them is also your decision.   We have a Document Management System that links to your banks and credit card companies. We receive feeds (copies of the transactions) after they have cleared the bank, plus the monthly statements.   We will still need to receive Customer Invoices.  Currently, provide to our clients a Stand Alone invoice built on Excel. Coming Soon: We are evaluating a web-based software that works with QuickBooks Desktop for Dispatching and Invoicing for everyone’s convenience. Will keep you posted on our progress.   Not all software works as well as advertised which is why we test, test, test before using it or recommending it. The only money we touch is our own Fees.   Auto receives for Monthly Outsourced Accounting and Bookkeeping Services on the 1st day of each month. Auto receives for Weekly Outsourced Accounting and Bookkeeping Services on Monday of each week.   Other Customer Service Options Available Cloud Hosting is available for clients who want to do their own Accounting And Bookkeeping but be on our server for web-based access; occasional review and support. FastEasyAccountingStore.com is available for all contractors who want to purchase QuickBooks Setup and / or QuickBooks Chart of Accounts to enhance their existing QuickBooks accounting systems.   Consulting is available to Outsourced Accounting Clients, Hosted Clients and FastEasyAccountingStore.com and all contractors around the world.   Looking forward to being of assistance as you choose the options that best fit your needs. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Episode_Contractors_Are_Experts_In_The_Field_Of_Construction

This Podcast Is Episode Number 0219, And It Will Be About Unique Proven Marketing Tips For Your Contracting Company  For Most Construction Contractors Your World Is “Hurry Up” And “Wait.” Hurry up and answer the Call from the Customer.   Wait to make the appointment.   Hurry up and get to the job.   Wait for the Customer to come home, to be available.   Hurry up and create the proposal.   Wait for a decision.   In some cases, the Customer says “Yes” and then it is Wait for the Job Deposit. Wait to Start The Job Contractors doing Insurance Work are expecting to wait for Approval from the Insurance Company Wait for the 1st Installment from Insurance Company Wait for Inspection By Insurance Company Wait to collect Homeowner’s Deductible Wait for Final Payment By Insurance Company All of this Hurry Up and Wait for activity makes it hard for The Contractor to schedule other jobs. Many contractors are only holding a place open for the customer once a job deposit has been received. There Is A Better Way - Fill The Funnel And Let Them Clamor To Get On Your Schedule! Unless your Construction Contracting Company has lots of work stacked up, there will be times when there is nothing to do, and that is the best time to think about Strategic Marketing and following the adage: "Dig Your Well Before You Are Thirsty" Everyone over a certain age remembers the Big Telephone Book with Lots of Yellow Pages The Telephone Books was so thick that it was the first thing used as a “Booster Seat” for little kids at Holiday Dinners. Those days are gone along with the Full Page – Triple Truck Ads. Today’s telephone book is small, thin and looks closer to an oversized paperback book. Remember the Thomas Guide Map Books. Everyone had them and bought a new copy every year. Today it is the world of internet marketing and phone apps. When in doubt – Google It, Bing, Safari, or search on Yahoo. There are other places, but these are the most common. While waiting for something to happen here are few companies that may help generate leads Here are a few of my favorite companies that provide services that are helpful to contractors Home Advisor – Marketing Nationwide - http://www.homeadvisor.com/ The best part is that you choose the areas you want to work and the types of projects you'll service. They have resources on the pricing your construction services HomeAdvisor is the place to be found - here's why: • Over 12 million project requests in the last 12 months • More than 5 million reviews submitted by homeowners • Nearly 140,000 service pros in their network Houzz.com - Marketing Nationwide - https://www.houzz.com The website for Contactors to Market to Homeowners and upload pictures of past project   Footwork Express – Marketing to Real Estate Agents - http://www.footworkflyers.com Real Estate Agents need the assistance of contractors to put their listing in the best light Footwork Express Provides Real Estate Marketing in King & Snohomish Counties They deliver flyers, postcards, counter card promotions to Real Estate Offices They work with Builders, Agents, Marketing Cos, & Companies with Services which Help Agents List & Sell Homes Deliveries are Posted on their Home Page with the link to our client's website if available They also post the Flyers on their Facebook, LinkedIn & Twitter Postcard Mania – Marketing Nationwide - http://www.postcardmania.com/ Business Cards and Matching Postcards that you can pass out or mail Business cards never go out of style – the just seem old fashioned When the internet goes down, or customers do not have Smart Phone that trusty business card comes in handy Your Construction Company Business Card Should Have: Your Company Name Your Company Address Your Contact Info Your Company Web Address Your Company Phone Number A business card is two sided – print something on both sides. Add a Flyer-like the one you used with Footwork Express and do a little “toe & heel work.” In other words Market, Market, Market. Pick a neighborhood that is profitable to you. Pick a neighborhood you know. Pick a neighborhood that is developed with sidewalks. Get in the Habit of passing out cards. Our Marketing Favorite is called “Six Pack Marketing.” Warning! Contractor Six Pack Marketing Can Put You In A Higher Tax Bracket! Because of all the money, it can make you if you do it right...which means if you do it at all! Contractor Six Pack Marketing is extremely powerful so be very careful with this one...several years ago in one of our construction companies we would send a crew to do a small two or three-day project, and they would wind up staying in the area for several months at a time. What a scheduling nightmare! We had to hire more workers, train them using our documented process and send them out to a new project in a new neighborhood and BANG! More often than not they would plant the flag and set up operations and be there for a very long time. Here is how it works: Your crew shows up to a house to do construction project and before things get really busy you go to three houses on each side of the place where you are working (six pack) and introduce yourself to the people living there by handing them a business card and in your own words say something like "Hello, my name is ----- and we are doing a construction project for your neighbor ------ and I just wanted to let you know that if any of our trucks or vans get parked in your way or if you have any concerns about what we are doing you can contact me personally and I will handle it." WOW! You will amaze and delight them! Now do the same for the six houses across the street and when you are finished if nobody has asked for you to "stop by and see about a construction project" at their house you re-visit them and ask if he or she were inconvenienced in any way. This works because most people are curious about what is going on their neighborhood. Numbers, Numbers, Numbers! In baseball, if somebody hit home runs 30% of the time they went up to bat they would earn a lot of money. Most of the time you will not find new work in the neighborhood; however, if it works just 10% of the time and one more person hires you then repeat the six pack again, and in most cases, human nature is "Me Too, Me Too!" Nobody wants to be left out, and very quickly you are getting a backache hauling all your money to the bank! Now for the big news Figure out how much money it costs to "Mobilize" get your vehicles, labor, material, tools and equipment to a job site and how much does it cost to "Demobilize" or reverse the process. Now add an increased efficiency of at least 1% to the bottom line because the crew is familiar with the people and the neighborhood. Every time your contractor six pack works you just put that "Mobilize and Demobilize" money and the 1% increase to the bottom line in your "vacation, retirement, kids college fund or whatever makes you smile fund." If you would like to try the contractor six pack but need someone to do it with you and if you are within 20 minutes driving distance from my office in Lynnwood Washington and offer to buy me breakfast ahead of time I could be persuaded to do it with you at no additional charge other than breakfast because I always enjoy a good meal with a contractor! Contact Sharie 206-361-3950 or by email [email protected] and let her know you are interested in Six Pack Marketing. Alternate Method For Six Pack Marketing If it is a nice friendly neighborhood, the neighbors will be watching your work and come over. Why they might want something done at their house. Neighborhood with sidewalks – walk the block. Years ago we made up packets that consisted of a Door hanger, Flyer, Free Marketing pieces from the supplier, business card and a coupon. Paper-clipped together and bundled in groups of ten: Hired High school kids to work in pairs put out door hangers One driver and one person to pass out They changed who drove and who walked or parked the vehicle Sometimes both of them walked depending on the neighborhood Gave them a street map, a highlighter to keep track of where they had been Usually worked 2-3 Hours productively several days a week Be sure your truck is lettered because it and mobile billboard advertising your contracting company Add a few Yard Signs for the job sites When you see a New Construction Project, there are signs everywhere on the project Why – The Contractors want to have a “Next Job” to go to before this one is finished Coolfront – Invoicing Software Nationwide - http://www.coolfront.com/ The World's Smartest Service Businesses Use Coolfront Mobile.Coolfront is a Mobile Flat Rate Pricing App for Plumbing, Electrical, HVAC. Has the ability to customize for additional services. Designed for especially the Mechanical Trades doing Service and Repair. Anyone who has had to build a Flat Rate Pricing Guide appreciates all the built-in features. Construction Document Collection and Management System We are always looking for a software to use internally, and you help you. Clients love the new Document Management System that links to their Bank Account, Credit Cards and can send other documents to it and they can view 24/7 previous documents sent.  Our system automatically pulls your bills and statements into one secure hub. This means you have one login to view and manage the documents from all of your accounts. No more logging into ten different sites each month to gather your recurring bills. Already A Client? Click The Logo Below To Login To Your our systeem Three ways to collect paperwork to our systeem: 1. Snap a Photo with the App Simply take a photo of your receipt, invoice or bill with the mobile app. our systeem scans, extracts, and stores your documents, ready to be published. 2. Forward your Email Paperwork When you become a client, our systeem automatically creates a personalized email address just for you. Email in your documents, and we'll do the rest. 3. Scan/Upload your Documents If you've already scanned your receipts, invoices, statements or bills, you can upload them directly to our systeem and the software will extract the key data for you. Safe and Secure! our systeem uses bank-level security to ensure your data is safe. This includes 256-bit encryption, SSL/TLS, and a Premium Extended Validation certificate -- as well as monitoring and verification from McAfee & TRUSTe, the trusted industry standards in data security. Simplify and Go Paperless! Your important financial records are organized automatically for you, backed up forever and available on any device. our systeem is your digital filing cabinet in the cloud.   TSheets – Time Cards Construction Contractors And Their Empolyees Love - http://www.tsheets.com/   Whenever possible, we try to use the services before recommending them so yes, We use T-Sheets. Coming Soon We are currently testing a Dispatch Software with built in estimates, invoices and merchant services. It is a game-changer in the world of dispatch software because IT ACTUALLY WORKS! This particular dispatch software works with QuickBooks Desktop on your desk or in our QuickBooks Desktop in the cloud, and it will be a help to all contractors and the technicians and customers. Fast Easy Accounting Store - QuickBooks Setup and QuickBooks Chart of Accounts For Construction Contractors We are adding content to  www.FastEasyAccountingStore.com to meet the needs of the Do-It-Yourself Contractor. This is helpful to our US, Canadian and other international contractor friends who want to purchase QuickBooks setup Templates and QuickBooks Chart of Accounts for their specific construction company. Short List Construction Contractors We Serve Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 As summer is approaching here is wishing you a safe trip as you go about your adventures. Enjoy your day. Sharie 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 [email protected]   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_Proven_Marketing_Tips_For_Your_Contracting_Company

This Podcast Is Episode Number 0218, And It Will Be About Multiple Contracting Companies In QuickBooks Leads To Catastrophic Ruin     Contractors, Bookkeepers and Tax Accountants are trying to keep everything all in one place. That is great. A single bank account on the surface is the answer in simplicity. Sharie’s Cash Management 101 Training I Teach Contractors Please Do Not Do This! Why – when putting everything in one bank account; it could be a FINANCIAL DISASTER.   Go to Home Depot, Lowes or any other larger store.   Use your debit card; Drop or lose your debit card, Someone finds it and buy stuff until he or she have spent all your money! (may be a little harder with the chip but how many places can you run your debit card as a credit card?)   The point is that within a short time – All the money could be GONE! ALL THE MONEY COULD BE GONE BEFORE YOU REALIZE THERE IS A PROBLEM All the money is all the money and losing it could put a company out of business Just as there are Common Sense rules about Sharie’s Cash Management 101Tips, there are common sense rules about mixing multiple companies in a single QuickBooks file: Does each company have its own Federal Tax ID number? If Yes, The Company needs its own QuickBooks File. Everyone can own Multiple Companies  Depending on the structure if the financial statements are on a Schedule C And 1040 or 1120S (S-Corp) or other return that in turn rolls up into The Contractors personal 1040 return. The annual tax return is pages and pages long (feels like a zillion if you have to make paper copies) Your banker wants the 1st two pages of your personal 1040 Annual Tax Return.  If you need commercial accounts, Dun & Bradstreet wants the 1st two pages of your business tax return.  Why because the 1st two pages is the summary of all the pages and worksheets that follow?   As a Construction Contractor, you need the details of the balance of the pages to run your business. How do you know how much money each company is making?    I can think of several examples of multiple companies being in a Single QuickBooks File. Husband has a Construction Company and Wife has a Non-Construction Company all mixed together.   Next example: Construction Company, Non-Construction Company plus a few Flipper houses for friends, and a few rental homes for themselves. Add in a few side jobs that are Professional Services. The word MEGA-MESS comes to mind: The Liability Insurance Company will take the easy way out.   What are Gross Sales for a specific date range? (all companies combined) The IRS will take the easy way out – You have one Federal Tax ID number Your Worker’s Comp Program will take the easy way out – What is the highest rate for the tasks? Apply that rate to all employees regardless of what their duties are (or which company) I know of a small company that everyone is charged the same Worker’s Comp rate because the combined office and shop space is small. In Washington State – Plumbers are at the field rate for workers comp even when they are cleaning their truck at the shop.  Why? Because Labor & Industries “Says – cleaning the truck is all part of the job.” No Lower Shop Rate is allowed.   Overhead is different for each of the following companies: Construction Company Non-Construction Company (could be day care, hair salon, espresso stand, etc.)    Construction Management Services for Flipper houses for friends Professional Services as a 1099 Contractor Flippers House turned into Rentals Flippers House Sold Rental homes Mixing Companies in a Single QuickBooks File: I can tell you "Please Don’t Do This!" Your Tax Accountant can tell you, "Please Don’t Do This!" Your Banker can tell you, "Please Don’t Do This!" The one person who won’t tell you not to do this is the In-House Bookkeeper. Why? They want to keep their job! The Construction Bookkeeper will try to keep your chaos straight and fight a losing battle with reality. What will not happen is good Financial Reports. The “What About’s” is just “White Noise” as The Contractor who insists on everything in a single QuickBooks file against all advice will benefit from “The Mess.”  (Notice I did not say benefit in a positive way) QuickBooks Desktop is fantastic for Construction Contractors to get good reports. (Remember, Garbage In = Garbage Out)   Reports cannot be better than the information given. Think Lumber – Standard & Better or Stud Grade is much better than the grade that is commonly referred to as airplane propellers. Specialty Lumber Yards have a variety of quality lumber.   A single project may have multiple grades of lumber. It’s a Science to use the right piece of lumber in the proper application to last the longest. Basics are that you can pound a nail in every kind of wood. Next Question – Which type of nail?   Everything about Accounting Especially Construction Accounting is the intertwined: There is a proper setup for Construction Contractors for good job costing reports. There is a proper setup for other Non-Construction related businesses Do you really want all the customers to all of the other business mixed into the Contractor QuickBooks file?   Do you really want to be paying a higher liability insurance because it’s easier for the insurance company? Do you really want to try to add | subtract | tweak | remember What does count? What doesn’t count; when trying to figure out if you are Making Money or Losing Money. And if so – Which business is the Good One, and you want to expand?   Which business are the Bad One and you need to let it go?   Are you trying to re-invent the Wheel? Are you just trying to Be Cheap? I would like to believe that you have a real desire to make changes that will make the lives around you easier and therefore you will get the financial and other job costing reports easily and efficiently. Of course, if you hired an Admin Assistant who is expected to act as your Office Manager |In-House Bookkeeper and has No Bookkeeping or QuickBooks Skills than you pick the phrase that best suits you.   My suggestion:  Sometimes More Is Better! Be open to Multiple Company QuickBooks files.   Each Company should have its own bank account and their own credit card accounts. Rental Property: Use QuickBooks or specialized software for Rentals. Rentals have different needs. With messy QuickBooks – each time money is moved between companies it usually Looks Like Income and by default treated as Income, and you could pay far more in taxes than you saved by mashing everything together. Government Agencies are always happy with messy books and over reporting of income and under-reporting of expenses. Your checkbook may not be so happy when it comes time to pay the taxes.       Annual Federal Income Taxes Self-Employment Taxes State & Local Taxes Licenses & Fees Sales Tax Looking forward to helping you make 2017 be a Better Year? Thinking Happy Thoughts.   Sharie I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Multiple_Contracting_Companies_In_QuickBooks_Leads_To_Catastrophi

This Podcast Is Episode Number 0217, And It Will Be About Untrained Bookkeepers Are Too Costly   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! The Term Is Commonly Known As “Grow Your Own.” This trusted employee ends up learning: How To Do Payroll For Construction Contractors How To Do Quarterly Payroll Reports For A Construction Company How To Do W-2’s For Construction Company Field And Office Workers How To Do annual 1099’s For Construction Company Subcontractors How To create Customer Invoices For Construction Contractor's Clients How To Call The Contractor's Customer And Ask For The Payment How To Choose What Are The Most Critical Bills To Pay. (Nasty Phones Calls Are The First To Be Paid!) Over the course of time, the in-house Contractor's bookkeeper / office manager develops new skills. They keep adding them as each new crisis occurs. Every day someone calls upset, dazed and confused spouses, girlfriends and overwhelmed Contractor's Bookkeepers asking for me to “Please Help – I am so overloaded and frustrated because QuickBooks is a Mess!!" I recently spoke with someone who wanted to make a few improvements to their business. The company had over 20 employees, and their in-house Bookkeeper was creating payroll Weekly from paper time cards. (which most of the time arrived late). It was Normal for their Bookkeeper to spend hours just trying to read the scribble and make sense of the time cards. The Contractor's Bookkeeper had the added challenge of matching up the hours to the jobs for proper job costing. A frustrating nightmare for the bookkeeper. All of this means The Contractor has been successful in growing the business. This is very good. The bad news is that the in-house Bookkeeper is overloaded and a lot of your profit and hard earned money is going to fall through the cracks. As The Contractor, You Are Paying The Price In The Form Of: Fines Penalties Late Fees Unbilled Change Orders Unsent Invoices Bounced Checks Lost Bidding Opportunities Little Leaks Sink The Big Ship Several Ways You Can Improve In-House Bookkeeper's Life And Grow Your Profits And Your Cash Flow Upgrade Computer to a new and faster box Get new monitors that are larger and with better resolutions Add a second or third monitor for more productivity Upgrade the office chair the in-house Bookkeeper uses Double check the phone – is a new phone needed Would a wireless headset be helpful? Any Investment That Saves Ten Minutes A Day Of Waste Will Pay For Itself And Pay You Ongoing Dividends Ten Minutes Waste Kills Your Construction Company Profits Profit Drain #1 In-House Bookkeeper Until Your Construction Company - Reaches at least $5 million in annual sales you cannot afford to hire a qualified bookkeeper or construction accountant. For Example - You Hire someone with bad habits which is a Cheap Bookkeeper part-time at $15.00 an hour for 10 hours a week thinking you will save money. The problem with that is you may not understand the true cost to have them on your payroll, including overhead, is closer to $25.29 per hour. See the chart below:   Every Ten Minutes Your Bookkeeper Is Costing You $4.21 And Could Cost Your Company $273.93 Every Year At 10% Profit, You Need $2,739.30 More Sales To Maintain Profit Margin In Some Cases - We can do more work for less money by providing you with real construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more at a lower overall cost and as an added bonus show you how to make more money than you are now! Cheap Tools And Equipment - Cost a lot of money that you cannot see; out-of-sight means out-of-mind. Invest in the best tools and equipment you can afford because in the short run you will save money. Construction workers who take pride in their work produce better results faster with fewer repairs if they have quality tools and equipment. Make More Money Faster - With productivity gains. See the chart below:     For Employee #01 Could Cost The Company $1,544.42 Each Year At 10% Profit, You Need $15,544.20 More Sales To Maintain Profit Margin   For Example - Your best construction worker asks for a tool: It costs $1,200.00 It will save ten minutes a day in labor It will last 3 years The standard response is the company can't afford it!  Highly Profitable - Construction company owners ask their construction accountant to calculate the projected the Return on Investment (ROI) is and then consult their Strategic Business Plan to make an informed decision. In This Example - It may make sense to finance the purchase even if it means using a credit card at 12% interest because the net return is $3,289.36 which is 245% ROI. See below: Two Contractors Doing Similar Work - For similar customers with the similar direct and indirect construction costs will have massively different KPI Reports including the Profit and Loss Statements. Size matters when it comes to piles of money and bigger profits! Before Computers – I Spent Hours Testing Adding Machines  A comfortable easy to use set of keys meant I could work faster. By Touch, how did the keys feels, how stiff was the keys. How LOUD, could I use it and still answer the phone? How durable was the adding machine? Just as the Right Tool is important to you and your Field Employees. The Right Tools in the office has made the work of the In-House Bookkeeper easier. The in-house Bookkeeper is a key player in your organization. Everything in the office this them is their “Tools and Equipment.” Do you know what 10 minutes are costing you? Can that same 10 minutes be used for something more important? Think of all the tasks you are having your in-house bookkeeper doing. Now how many of them can or should be done by someone else? In the beginning, there was no one else but you and your Office Assistant. The Office Assistant slowly evolved into being the in-house Bookkeeper. Before your know it the title Office Assistant no longer applies. Now the proper title would be Office Manager and be the in-house Bookkeeper as time permits. In several blogs, I have quoted saying of my Father and my Brother. Here are some of my Mother’s favorites. When being overloaded with “Things To Do” is really being “The Chief Cook and Bottle Washer” who is willing to pitch in (or by necessity) wherever and whenever a person is needed. The phrase “Is That My Job Description” never applies to this person. Another one of my Mother’s sayings was in relationship to housework when there was a “shortage of time.” She would say we are going to give the living room “A Lick and A Promise.” Meaning we were going to give it a quick dusting, vacuum the center of the room, straighten the nick knacks, fluff the pillows on each end of the sofa. The unspoken was that next time the living room would be vacuumed “Edge To Edge.” The sofa, chairs, tables would be moved and vacuumed under; baseboard would be wiped down. Windows would be washed; drapes would be air fluffed. Feels a bit like spring cleaning. I find reviewing QuickBooks files that many in-house Bookkeepers are giving the bookkeeping “A Lick and A Promise” Shortcuts are taken. Everything is entered into the checking account. Bank accounts are not reconciled. Credit cards, tax payments are all entered into Accounts Payable, so they will not be forgotten. The time or the willingness to “Go Back” and catch or fix the Bookkeeping never happens. My first question is what are the things that someone else can be doing? Would adding an assistant be helpful? Can someone else go get the mail, open the mail, tidy up the office, make the coffee, take out the trash? Would adding a shop person be helpful? Can someone else lift heavy things? (case of paper) Can someone else move that thing? (desk, cabinet Can someone else hang that picture, change the light bulb? My next question is how can payroll be streamlined? Should payroll be Outsourced to a Payroll Service? My suggestion for Outsourcing Payroll is almost always YES! Why - The short answer is: It will free up your in-house Bookkeeper’s time. Next reason is as payroll becomes more complicated as you add more employees a payroll service is on top of the rules. (Washington State added, “Personal Time Off” for 2018. “Personal Time Off” is in effect inside City of Seattle effective in 2017 for employers just passing through (deliver drives, etc.) Still, want to keep the payroll in-house. Add Electronic Time Card. We recommend T-Sheets. T-Sheets if setup properly will sync with QuickBooks Desktop In The Cloud (not all 3rd party programs do this nicely) This will save hours of time trying to read employee’s scribble. I recommend T-Sheets for contractors like you to track your own time. How many times has a project been Time & Material Billings? Now, where are the notes on the job? How much time was spent on the job? Who spent time on the job? With T-Sheets built-in database, it is easy to pull reports based on per employee, by time, or by the job.  Having good records is helpful in an audit. Having good payroll records may help preserve your lien rights on a job. Having good records is helpful in billing the customer. Having an electronic timecard with GPS can help keep track of your employees. (Are they working or fishing?) There is no shortage of tasks for the Office Manager | In-House Bookkeeper When you ask for financial reports, the word “Overload” comes to mind. When you ask for job costing reports the “Glazed Look” comes to mind. When you ask for 10 more things to be done “Muttering Under Breath” happens. Understand as The Contractor the person who has the most invested in your business is you. The additional energy to “Get The Job Done” is yours because the company is yours. It is by exception that the most dedicated employee will have the same intensity as you do about your business. Why – because they can clock out and go home. It is you who has to Worry, Wait and Hustle! And sometimes – if you don’t pick up and step up to get the balance of what needs to be done. It won’t get done. We are here to help. We do not try to do it all. Every year we make improvements to our business. Why – To help us help you. I am not excited to pay server fees, but I like the benefit of our Contractor clients and us having 24/7 access to the QuickBooks file if I need it. Technology is everywhere. Email is nicer that faxing documents everywhere. I have on occasion emailed a client late at night or early morning to be sure they know something before their day starts. I am very much a phone person, but I would never call or answer the phone during those same odd hours. Looking forward to Chatting About How We Can Help You Sharie   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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Untrained_Construction_Bookkeepers_Are_Costly

This Podcast Is Episode Number 0216 And It Will Be About Unique High-Profit Contractors Count All Their Income  The Ripple Effect Of Not Counting All Your Income Happens When You Go To The Bank For A Loan You need to be able to show the bank that you have enough sales to pay back the loan. For most contractors, an excessive amount of profit is NOT an issue. There are always more than enough expenses that happen naturally in your Construction Company. And there are always tools that need to be purchased, repaired or replaced. As 2017 tax season is finishing, I have heard from owners and employees who say. This Income or That Income doesn’t count. The fact is it all Counts. The underground economy may be there but don’t count on the information being a secret. Between Memberships, rewards cards and using a credit card purchases are being tracked everywhere by somebody. (Some contractors think buying a truck for cash is not traceable). Play it straight, report all of your construction company income and if your QuickBooks setup is done right and the bookkeeping entries are clean more often than not you may get a big fat tax refund! Merchant Service providers are required to issue 1099’s This means every time you use a debit or credit card the amount, date, place of purchase is recorded and the grand total for the year is reported to the IRS. Web-based services (E-Bay) are required to issue 1099’s is earning are over a certain amount. Casino’s issue 1099’s is winnings are over a certain amount. Construction Company Owner’s issue 1099’s and finally there is a Nanny Tax on household help. Tax Reporting Is Everywhere You Win When You “Play Within The Rules” This Means Don't Cheat Your Own Future, Count All Of Your Income  Keep track of all your expenses. Have a good bookkeeping system to calculate the difference between Profit And Loss. Invest is good tools and equipment. Depreciate the high-value items like cars, trucks, vans, tools, equipment and expensive software. We have found that a Professional Version of Construction Accounting software like QuickBooks and Professional cloud-based services have additional value to be worth more than the “Cheap Price” of something less. This does not mean that all expensive software and apps are the Perfect choices based on a High Price – if it is useful, then it may be the “Better Value.” A tiny pickup truck based on price is cheap. But if you need an 8’ bed and are hauling lots of “Heavy Things” than it is cheap but not the best value as a ¾ Ton or 1-Ton Truck would be. Contractors at all stages of their Construction Company have to be price and value conscience. It may be a shock to some, but cash flow issues happen to everyone at some stage in their Construction Company. All it takes is for a few customers with “large invoices” outstanding to delay payments for a long time, and you are experiencing a “Cash Crunch.” Unsigned or forgotten Change Orders can also be a problem. Forget the customer who promises “If you give them a good price on this project – they have several more jobs waiting for you.” (so that you can lose even more money).Click Here to download our FREE Change Order Form on PDF. The challenge for all contractors is How Much to charge for their product and services to make a profit. Picking a Price Point that is fair to both parties. The goal is to always Provide Good Quality Work. Frustration comes when the person they are working for wants to “Nik Them A Little,” then “A Little More” and still expect that The Contractor to be a willing rush to their project, eager to put in another day and do even more “Extras For Free” - Answer is Usually Not! Give Good Value Many new contractors provide “Handyman Services” a low cost to get the additional experience and to show they have clients. Helping The Grandmother down the street and all her friends. This is different from working for a Builder / Developer and discovering they built the house for practically “free.” If you are required to Collect Sales Tax – be sure to have it spelled out in the contract as Plus Sales Tax after the subtotal. Almost everywhere in Washington State sales tax is 10%. Just missing a little thing like charging the Sales Tax (repeatedly) could be the difference between a profitable year or having a loss. Think about the benefits of Flat Rate, Bid Jobs and Time and Material Billing. I know of contractors who refuse to Mark Up Material and do not charge labor to go get the material. If The Contractor’s Labor Rate is high enough this might not be a problem. Many times, when the customer does not want to pay a markup – they also are also looking for ways to complain about the price of material and try to deduct some hours from the invoice. After all – how cool is FREE? A couple of years ago, I had a Homeowner come to my office The Homeowner was very up front that she was trying to figure out a way to not pay the contractor the final invoice. The Homeowner was certain that there must be a way to find a massive discount and avoid paying the final bill. Because we do Construction Accounting, the Homeowner wanted my help to review all the invoices to find anything that would allow deductions. She was very unhappy the work passed inspections, and the Permits were all written off. Contractors need to write clear estimates, contracts, be sure to send Notice To Owners to protect their Lien Rights. We like Zlien The Mechanics Lien & Construction Payment Platform for contractors because: They know when document are due for projects They research documents and sends notices on time They receive, manage, and sends your lien waivers They produce legally compliant forms every time  Click Here To Learn About Zlien The Mechanics Lien & Construction Payment Platform for contractors Keep your invoices simple, collect the money. Take Credit Cards from the mainstream processor. Discount for cash if it makes sense. Get Paid - Move On. Count All The Money as Income. A customer’s tip is $20.00 – Even that is Other income on an invoice. It’s the habit. And Good Habit’s will be better for you in the long run. Our parents and grandparents had many “Old Fashioned Saying.” When you think about it – Their sayings usually made sense without being offensive or overbearing while saying them. My Father’s favorite saying was “Tend To Your Knitting” meaning “Keep Focused – Don’t Get Distracted.” My Brother’s is “Don’t Stop” he lives in the country, and they tend to move “Big Things” down a narrow road. For a Contractor in the city, it would mean “If it’s working – keep doing it” (Think Marketing) It annoyed our children when Randal and I would speak in shorthand referencing a movie or a book. Now that they are older – they “Get The Humor” and “The Lesson.” For most of us, our parents and grandparents got smarter the older we got. They let us spread our wings and tried new things. Being a Contractor is like that. Having an idea, a dream and willing to “Go For It” (with the support of others) There is no book with the perfect answers to all the “What If” and “What About Questions” What makes a good client for one contractor is not necessarily a good client for another. The same is for employees. Not all people are a “Good Fit.” for your construction contracting company. Every Contractor will need and want a new(er) truck at some point. Bankers like to see Good, Clean Financial Statements. You may know all of your numbers in your head. It is hard to tell a Banker you make a lot of money and can support the loan if all your statement shows are $10,000 in sales for the year. Written on a piece of notebook paper it is not as believable as coming from QuickBooks, and your sales are much higher, and your net income is $10,000.00. The banker can look at “Why” and see if the numbers can be moved around to make sense. The Banker may need to Explain Your Numbers To A Loan Committee who does not know you. Many Bankers really do want to “Say Yes” and give you the loan. We Can Help “A Little” or “A Lot” Depending on your needs. We work with QuickBooks Desktop Version for Setup, QuickBooks Cleanup, and Provide Ongoing Contractor Bookkeeping Services, and Contractor Consulting Services. Looking forward to chatting about your specific needs. PS: After we setup QuickBooks for your specific construction company you have a range of options: Do-It-Yourself Bookkeeping Utilize our Outsourced Accounting Services. Keep your QuickBooks file on the Server and do your own bookkeeping (our QuickBooks setup is not required) Buy QuickBooks Chart of Accounts and/or QuickBooks Setup Templates for the “Do-It-Yourself” Contractor at the FastEasyAccountingStore.com Wishing you the Best Enjoy your day. Sharie 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 [email protected]   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You!   Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map__Unique_High-Profit_Contractors_Count_All_Their_Income

This Podcast Is Episode Number 0215 And It Will Be About How To Show Clients Every Model and Upgrade From Your Office Today's Podcast is based upon a guest article from Kim Smith Of Render 3D Quickly Check out Render 3D Quickly! Render 3D Quickly is a company that takes appreciation of architectural aesthetics to a whole new level. The company does this through high-end 3D architectural rendering. They use the latest in 3D rendering software, competitive pricing, quick turn-around times, and a team of professionals that are highly trained experts in their field. Bring it to life through animation The 3D rendering is a program that allows interior designers, architects, builders, contractors, and developers to see, using 3D models and animations, what a project will look like before delving into it. The company has satisfied customers not only in the United States and Canada but China and Europe as well. The 3D rendering program allows for flexibility in the design and specifications with least of effort. It also takes care of exploring the possibilities limitlessly as well as pushing the envelope at the seams. Taking care of fixations The kind of possibilities the program opens is making a virtual presentation via video conferencing to a client who is thousands of miles away. It also allows the buyer to discuss their preferences in real time and perhaps go back on some of the expectations they have had before the presentation. Unreasonable or unnecessary fixations are taken care of as the client extends the horizon of imagination. Customer satisfaction To ensure that customer satisfaction is adequately addressed, the team at the company has a strong focus on customer service and can quickly give a free quote either by phone or e-mail with minimal wait times. The company does 3D renderings for floor plans, interiors and exteriors, house and home, and 3D aerial. A client can request that renderings be animated instead of just pictures, taking projects into a new outlook. Animation provides getting an idea of what a layout and the overall future project will look like before making large financial investments. This allows a client to feel they are walking through the project, a bit more interactive than just the pictures Flat drawings are out, and 3D is in Flat drawings, files, and binders are no longer the in-thing when it comes to viewing and assessing a property. You are looking at a model where, in any case, you need to get an alternative opinion, the person you are sharing with has a clear view of your proposal, especially where the property involves a couple or more than one person. It is one thing to make a decision to acquire a property and a totally different cup of tea to find the satisfaction of owning that property. A fitting price is one, and then comes the location, interiors as well as the immediate surroundings, the shape and design of the exterior, the colours, the layout of spaces and openings. Without viewing the property it is quite difficult to make a decision, and that is where 3D rendering come in. ‘Walking’ through the design In addition to animation and pictures, clients may want a 3D mock-up and architectural models. Often clients will combine 3D animation with a model for a more exciting presentation. It allows buyers to get a good look at what a building can be both inside and outside. Not only can a client request a 3D model of a building, but also where landscape would be set; The company offers Virtual Design (VD) tours. Savings on cost A client can not only see pictures, models, and animation of a project but be a part of the experience by walking through the project. Some use virtual reality with a pre-existing building using a virtual reality camera which can cost upwards of $4500 each. The company's Virtual Design requires no pre-existing buildings and is much more cost effective; $1000 for the average home VR creation. User-friendly Website The website for the company is both easy to use and informative. The site shows examples of projects that were completed and the dedication to the client. For someone that is a beginner to 3D rendering, Render 3D Quickly.com makes future clients feel they are in good hands with a staff that knows their business and does it well. Clients do not need to leave their office or home to use the company's service. By using e-mail and phone, a client can get several ideas on how to best complete their project. Updates that are needed to a project can also be done from the office without inconveniencing the client. One of the key elements of technology is to provide convenience. The desired property may be found thousands of miles away. The 3D rendering costs are minimal considering the convenience, savings on airfares as well as time. Qualified upgrades The most difficult thing is making upgrades from what was considered to have been what the client wanted only for the client to turn around and want something totally different. That presents a headache of untold magnitude the costs notwithstanding. To mitigate such incidents that may lead to client dissatisfaction, 3D virtual tours enable both the proprietor and clients to go through the motions in real time and actually try out the options that are available. You are able to work through the lighting options, the wall and floor colours as well as settings; in this way, the final decision can be firmed up well before sinking funds into such an upgrade. Getting the real feel There are certain aspects that can only be addressed through 3D rendering which include management of space, safety, lighting and the aesthetic feel. This is usually a way long shot when presenting this using flat drawings as the proprietor presents an abstract to a client who has little or no understanding of the architectural dynamics and is unable to interpret this information into the 3D of their mind's eye. Some of the main reason a proprietor undertakes an upgrade is to sell, however, for a client to seek an upgrade, they are seeking to satisfy a certain visual hunger within them. Even before the physical comfort, it is the visual satisfaction that will inform the decision. 3D rendering program addresses this angle quite adequately. The proprietor knows what it will cost them and the client is sure that they got the right thing going. Cutting out human exasperation Going back and forth in the specifications for a property is no limitation where technology is concerned, in a one on one, exasperation can set in, and a good deal can easily slide on such an account. 3D technology allows you to go back and forth for as many times as you would like without inconveniencing either party. House design and décor has seen a big revolution in recent times. Tiles, wood, and slates come in a myriad of colors and designs. The client can be spoilt for choice and not sure how these aspects impact on the overall outlook of the property; 3D rendering via video allows for this. The other possibility it opens is that the client can track the recommended changes and in this way approve of the work in progress or make amendment before the work goes too deep to an extent where reversing is near impossible or way too costly. Being in many places at the same time A 3D rendering service allows a proprietor to present a ‘buffet’ of the property variety at his or her disposal. Different spaces and models in varied presentations give a varied feel, and it is this feel that determines whether the buyer makes the decision to buy or not. As human beings, decisions are made within a certain given window, and if this widow is not utilized within a certain timeframe, it may adversely affect the decision-making process where a business loses out. 3D rendering services enable the proprietor to serve a whole compendium of properties as a package and in this way allowing the client to make a good choice within the shortest timeframe. Speedy quotations The integrated 3D rendering program allows for speedy processing of the pricing bands and providing of a quotation within minutes of the client’s inquiry. In this way, the client is able to make quick comparisons based on the preferences and extras that they have made in their VR conference discussion. The client is also able to sample properties from other companies and make a more informed choice on the property they would like to purchase. Selling a good idea One of the biggest challenges in life is selling a new idea. Something people may not have a background about. There is a myriad of innovative architectural designs that do not go too far because their essence was never fully appreciated or embraced. 3D rendering through animations, models and VR’s shifts the dynamics on all fronts when it comes to selling a new concept. Through 3D rendering, the proprietor can give the client an opportunity to sample and appreciate a new concept complete with the extras that come with it. It allows for depth that would not be possible with ordinary flat presentations on paper. Editor's Comments: If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger  I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations   We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected]   Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_How_To_Show_Clients_Every_Model_and_Upgrade_From_Your_Office

This Podcast Is Episode Number 0214 And It Will Be About Proven Contractor Bookkeeping Road Map We Make Contractor Bookkeeping Look Easy Because we do it every day, Monday through Friday and some holidays. This makes it over 300 days per year. With multiple clients, we are not new; it’s not new. The same goes in your field of Construction. You do many of the same things over and over again. The end result is so clean and tidy when the customer is watching you it looks like it was effortlessly done. That’s so simple “Why Couldn’t I Do That.” When I tried, it seems to be “A Lot Harder.” Everyone has a skill set. Construction Bookkeeping and Construction Accounting is what we do. I confess – we think we find it easier having come from a Construction Background (for Randal growing up in a construction family and for us personally having started, owned, operated several Construction Companies). We can speak with conviction about the basics and the more complex issues as you grow your Construction Company, Handyman Company, Trade Contractor or any one of the dozens of Construction Company types we serve. Short List Construction Contractors We Serve  Brand New Construction Company    Handyman Company Cabinet Installer    HVAC Contractor Carpentry Contractor    Insulation Contractor     Carpet And Tile Contractor    Interior Designer       Commercial Tenant Improvement Contractor   Land Development Company Concrete Contractor    Landscape Contractor     Construction Company   Masonry Contractor Construction Manager   Mold Remediation Company       Contracting Company    Moss Removal Company       Contractor   Painting Contractor       Custom Deck Builder    Plumbing Contractor       Custom Home Builder    Pressure Washing Company       Demolition Contractor    Remodel Construction Company       Drywall Contractor    Renovation Contractor       Electrical Contractor    Restoration Contractor       Emerging Contractor    Roofing Contractor       Excavation Contractor    Spec Home Builder       Finish Millwork Contractor    Specialty Contractor       Flipper House Contractor    Subcontractor Flooring Contractor    Trade Contractor       Framing Contractor    Underground Contractor       General Contractor    Utility Contractor       Glass Installation Contractor    Construction Employees     Gutter Installation Company    Construction Support Specialist   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 You must decide for yourself the benefit and value of having W2 employees. Other options include using a Staffing Service, subcontractors, becoming a consultant or Project Manager, 1099 Contractors or keeping the company smaller where no outside employees are needed. All of us need employees. The question is “Are They, Ours? Yes, we have direct employees. I can tell you we do not have as many direct employees as when we were Construction Contractors. Do we ever intend to have that many direct employees again? No Never, not ever in this lifetime. When we are reviewing software and services; we look for the larger companies who HAVE employees. We want to have access to their Customer Support and Tech Support (all are indirect employees). Outsourcing means we have access to highly qualified staff without all the headache and expense of in-house employees. This is what it takes to keep everything running smoothly (Plus good equipment). Fast Computers, Multiple Monitors, each office with their own printer, Hi-Speed Internet, Hi-Speed Scanners, good office environment with large “L” shaped desks, plus additional tables as work areas, comfortable office chairs, and finally working HVAC system. Hats off to Construction Companies who have 20, 30, 50 or more direct employees: ·    As you grow, there are additional regulations that come with more and more employees. ·    Recommend using a 3rd Party Payroll Service with an HR Component. ·    Suggest paying Bi-Weekly unless mandated to pay weekly. ·    Use Electronic Timecard.  Limit Employee Advances.   ·    Give Perks and Benefits that employees will appreciate. ·    Pay Well – There is a balance between Under Paying and Over Paying your employees.   ·    Reward the productive employees. ·    Have written Coaching Reports for those who need a little reminder.   ·    Don’t be afraid to “Let Someone Go” if it is no longer a “Good Fit.” ·    Some employees want to leave and just don’t know how to Quit. ·    They do not want to leave and have “Hard Feelings, ” but they want to move on.   Many challenges “Big or Small” are exactly the same for all companies: ·    Keeping Track of Paperwork ·    Developing Processes ·    Creating Estimates ·    Getting Signed Change Orders ·    Creating Customer Invoices in a Timely Manner ·    Presenting The Invoice To The Customer ·    Asking For Money ·    Paying their Bills ·    Focusing On Tomorrow ·    Dealing With Today ·    Learning From Yesterday How can you do all of those things all at the same time? It is simple; but not easy. It takes practice Finding a “Good Bookkeeper” who understands construction and your issues is a First Start. Note – I did not say find a bookkeeper who will come to your house, pick up your mail, open it. Decide what is important. Deposit the checks, Write the checks, Pay the bills. That is a role for you, your spouse or a partner – not an outsider. Do not give a bookkeeper TOO MUCH AUTHORITY or you could wake up one day and be a victim of Bookkeeper Embezzlement! I have known bookkeepers who have “Presented themselves as part of Management” (as a Partner) which upon further questions to the actual owner I learned that was not true. (Just The Bookkeeper) Same has been true for Project Managers, Estimators, and other Field Employees who go beyond their authority. It is easy to spend “Other People’s Money” it is so much easier than spending our own. The local paper recently had an article about a “Bad Bookkeeper” who had been caught embezzling the Contractor’s funds for several years. The hardship to the Contractor and the loss of money is enormous. The Bad Bookkeeper was convicted, but even if restitution is 100%, it will take years and years to be pay off.   In the meantime, the Contractor has a Problem – A Huge Problem. That money is GONE! Fast Easy Accounting presents and provides a “We Solution” Our focus is mostly “After The Fact” Accounting. We never want any Government Agency to say we “Should Have Paid Something.” We also never want for our Clients to worry that we spent their money on Anything. The only funds we touch is our own fees – we auto receive Weekly (on Mondays) or Monthly (1st Day of the month) depending on the services provided.  All services are Month-To-Month; ending on last day of the month. We Enter All Of Your Paperwork Into QuickBooks Desktop Version In The Cloud Accessible 24/7 From Your Desktop, Laptop, Notebook, Tablet, Smart Phone Any Web-Enabled Device Including iPads, iPhones, Apple, MacBook We use a Commercial Host approved by Intuit. Access it like going to the Bank – log into your account, view, print reports, move money between accounts and chose if you want to use “online bill pay” feature. We embrace Cloud Services (especially those with a Master Dashboard). State Governments are also embracing Cloud Access for many Government Services. All the State of Washington agencies work together; if a contractor is audited The Agency involved is asking for documents beyond what they need to help the other agencies. What does this mean? ·    Good Recordkeeping ·    Customer Invoices ·    Customer Payments   ·    Timecards ·    Employee Paystubs ·    Bank Statements ·    General Receipts We have a Tried And True Contractors Bookkeeping System ·    One which includes a Cloud based Document Management System where you send  your documents ·    You can forward emails, scan, snap a picture, scan and send PDFs, whatever is easy for you. ·    If you use a “Main Stream” bank with enhanced images, you can link the bank feeds to our paperless server and get your contractors bookkeeping service running almost 100% autopilot!   What Does "Full-Service Contractor Bookkeeping” Mean To You? For many contractors, it means Hire someone – usually anyone at all who says Yes – I will do everything. Giving that BRAND NEW Person all the user names, passwords, authorization to sign checks and run back out to the field as fast as possible and “Forget About It – Everything Is Handled” For many Construction Contractors That Answer Is Wrong | Very Bad | Leads To Painful Results! I’m Sorry for those who were hoping – This is not “How We Work.”   In our system – It is a “We Process” We want YOU to “Help Us Help You.”   A Major Part of this process is that “You Control The Money.” ·    Receiving The Money ·    Paying the Bills ·    Hiring ·    Promoting ·    Coaching ·    Firing Employees.   You are an Owner, not a Manager – Making Decisions Is A Daily Activity Though there is a lot of managing the day-to-day activities of owning and operating a business.   Our part is getting every scrap of paper (income or expense) in an accounting system. We use QuickBooks Desktop so that you have the reports you need to properly make decisions.   Your Tax Accountant understands the QuickBooks layout and maps their Tax Software to it.   I am reminded of a book about decision making I read to our son as a small child. David Decides About Behaviors: A Story for Children, a Guide for Parents by Susan Heitler The same principle applies to everyone. Each one of us is David.   We make decisions every day about everything.  No decision is a decision.     We are here to help – If you will let us!   AND if you will do Your Part it can be a seamless activity without undue stress on either side. With good accounting, you are able to focus on getting your work done. You do not have to explain to use How To Do The Bookkeeping – We Know What To Do! I recommend being an S-Corp over an LLC or Sole Prop. (call me, and we can discuss why) For The Do-It-Yourself Contractor Fast Easy Accounting Store Have The Perfect Solutions To Fit Your QuickBooks Setup Needs   The choice is yours – Either way we are looking to Help You with your Accounting Needs. Enjoy your day. 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 [email protected]     I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You!   Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                                                                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Proven_Contractor_Bookkeeping_Road_Map

This Podcast Is Episode Number 0213 And It Will Be About Common Myths And Misconceptions About The Construction Industry Today's Podcast Is Based Upon A Guest Article Is From Mike Pierce. As with most professions, there are various misconceptions and stereotyping in regard to construction work as well. Here are a few of the most common myths in regard to the construction industry: As with most professions, there are various misconceptions and stereotyping in regard to construction work as well. Here are a few of the most common myths in regard to the construction industry. 1.  Anyone can work in construction. The fact is that most construction workers are skilled tradesmen and others have some college education.in the construction industry, the construction companies invest a lot of resources (time and money) for the initial and continuous training of their construction workers. The training is most commonly in regard to the OSHA safety standards, as well as working with the newest construction tools, methods and technology. Also, apprenticeships tend to be highly competitive. This means that throughout their career, construction workers gain quite a bit of knowledge and master many construction tasks and skills. For the upper level positions, further technical training and a college degree may be necessary. This means, that overall uneducated people and those without experience can have problems finding a job in today’s modern construction industry. 2.  Construction work is very dangerous. The fact is that due to the developments in construction tools technology, developments in the production of personal protection equipment, gear, footwear, as well as because of the stricter safety rules and regulations for this business, the number of fatal injuries in this industry has been decreasing since 2006. Today, construction companies invest a lot of time and money in assessing the risks, and creating effective risk management programs for their construction sites. Many people are engaged in implementing, monitoring and constantly analyzing them. This means that although there are dangerous tools, materials and heights involved in the construction industry, today it is a much safer profession. The high quality personal protective equipment plays an important role for keeping workers safe. According to the footwear website MyBootprint.com, the features of the best construction boots are safety toes, flexibility for movement, durability, puncture resistance, electrical hazard protection, slip resistance, and good traction. 3.  People choose construction because they can’t find another job. The fact is, the multitude of construction professionals are doing what they want to do. Construction work involves learning and mastering a wide variety of skills. The work usually doesn’t include working on national holidays and weekends and overtime work is properly rewarded. Also, there is nothing more satisfying than being able to admire the product of your work on a daily basis for decades and centuries to come. 4.  Construction is simple. No. Construction is a complicated process which begins from the local authorities, architects, engineers and economists before the construction work can begin. Also, todays tools, materials and construction techniques are becoming state-of-the-art, so construction is definitely not just a bunch of people slinging on some heavy tools. 5.  You can’t become successful in the construction business. Actually, the construction industry is a multi-billion dollar one. Projects, including: expensive residential buildings, hotels, high rises, various roads and transportation systems are worth billions of dollars. In the construction business, the employees have the opportunity to learn more and more tasks and obtain skills to move up in the hierarchy and earn a decent living. Also, this business allows skilled workers who want to start their own business to start their own construction companies and earn quite good money while at it. About The Author: Written by M.Pierce: Mike is an outdoorsman, DIY enthusiast, and the person who manages Mybootprint and ShoeMatters – sites dedicated to help people find high quality footwear for their needs.     I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Common_Myths_And_Misconceptions_About_The_Construction_Industry

This Podcast Is Episode Number 0212 And It Will Be About Contractors Get Better Results When QuickBooks Is Cleaned Before Filing Taxes Contractors who ask for help in Cleaning Up their QuickBooks File before filing taxes have better results. Because The Tax Accountant is happier because the QuickBooks file is clean and easier to work with, they will likely find more deductions which can save you money and in some cases mean the difference between success and failure in your construction company. Because QuickBooks file is clean, the Tax Accountant will have fewer questions of the busy contractor.   Because QuickBooks file is clean, the Tax Accountant can easily find the reports needed to file the tax return Because QuickBooks file is clean, the Tax Accountant can focus on saving you money You are the Happiest because taking a trip to the Dentist for many contractors is less painful than going to the Tax Accountant. Once a Tax Accountant is “Broke In” you hate to change them. It shouldn’t have to be that way. Like a new pair of shoes – All is well and a Happier Experience, once the Tax Accountant and The Contractor understand the needs and expectations of the other.   Bad Experiences Just Spiral Down Tax Accountant does not want to see a Box of Receipts, Twelve Bank Statements and a see you later; call me when it’s done. You reply "I wanted my refund yesterday." It Is Tax Time, And The Tax Accountant Gets To Choose What Client To Work On Next The condition of your financials (or lack of financials) may put you at the bottom of the pile. From time to time Tax Accountants will find paperwork or a QuickBooks file in such awful condition that they Refuse To Do The Taxes until changes have been made. Contractors who are serious about their business need to be actively involved. A little bit of effort goes long ways to document that their company “Is A Business” and not “A Hobby.” A Good Start Is An Accounting System Based On Construction Accounting   Next, is keeping all the receipts. Pay all expenses by check, debit card or credit card. Creating Customer Invoices. Putting all the Income into the Bank. Hire a Construction Bookkeeper! Outsource to someone who understands your needs and Construction Accounting The Thought That “Anybody Can Do It” Is Not Quite Right. Contractors Need People Who Specialize And Understand Construction Accounting. With all of the taxes and reports, due bookkeeping should be someone who knows what they are doing. Most Bookkeepers specialize in an area. Restaurants, Medical and Construction all need bookkeepers. Just not the same Bookkeeper. Several General Bookkeepers have recently called saying they are the “New Bookkeeper” and are asking for help because they know the QuickBooks file is messy. The Question is: Can We help? Short Answer – Yes, We Can Help! Bookkeepers want Help in setting up a New QuickBooks file Bookkeepers want Help cleaning up the mess of the previous Bookkeeper. Bookkeepers want Training on What To Do after the QuickBooks file is cleanup Provide a One Hour Consultation and Free Review of Your Existing QuickBooks File. We recommend you have someone review your financial statements before going to the Tax Accountant. Remember this is the busiest time for Tax Accountants. They do not have The TIME or The ENERGY to look over all your transactions. Tax Accountants look for high-level numbers and what can they easily move to fill out the tax return. Good Idea to clean up the QuickBooks file before visiting Tax Accountant or Your Banker. Know the difference between what a good Tax Accountant does, and a good Construction Accountant does.  Tax Accountants Are Paid To Fill Out Tax Returns Not Save You Money Or Be Your Mentor ------------------------------------------------------------- We Are Paid To Do Your Contractor Bookkeeping And Be Your Profit And Growth Mentor What about this?   What about that?   Who owes me money?   Who do I owe money to?   Do you know your Customers?   Do you know your Net Income?   Do you know your Gross Income?   Are you vehicle loans in QuickBooks?   Has all of your bank accounts been reconciled?   Has all of your credit card accounts been reconciled? Construction Bookkeeping Is Answering The “What About” Questions Sooner Rather Than Later Or Not At All Without the Details entered into QuickBooks, it is IMPOSSIBLE to Create Useful Reports. Without Customer Invoices, there are no Accounts Receivable Reports   Without Accounts Receivable Reports you don’t know if the Customer has paid in full   Without Customer Names in QuickBooks, there is no way to create Job Profitability Reports. I agree – Day to day bookkeeping can be boring, tedious, or moments of sheer terror when you discover that all the money in the bank is already spent. It is NO Fun to not be able to go buy a new truck with that Job Deposit you just collected. I want the fun stuff; not the Hard Stuff. Day to day bookkeeping is hard. One simple reason is that your brain replays all of the activity of each job every time it sees a receipt for that job. Can you say “Ground Hog Day” over and over and over again? There are “No Stories, No Baggage” they are just numbers tied to a specific customer to us. Because this we are able to enter in the transaction quickly. In that respect, Outsourced Accounting For Contractors Like You will free your mind to be able to look or new jobs, focus on existing jobs, remember the previous jobs (good parts and filing the bad parts away for reference on what not to do again in the exact same way.) We Clean Up QuickBooks Files (Desktop Version). We Maintain QuickBooks Files For Contractors Like You All Across The USA Including Alaska And Hawaii Some old, new, existing and previous clients have never, ever owned QuickBooks. With our system, it is not a requirement that our Clients own, review, or try to learn QuickBooks. Some clients are want to have access to their QuickBooks file and are comfortable in entering the customer invoice directly into the file. For those clients, we welcome their participation. We teach them how to use the Icon Bar to pull the reports that are important to them. We do the rest (entering the transactions from the receipts provided, bank statements and credit card statements) What we NEVER DO is pay your bills for you. We touch your account (to auto receive our own fees), but beyond that, we do not Pay Bills, Pay Payroll, Pay Taxes, Pay Loans, Pay Credit cards. We never want any Government Agency to get the impression that we are decision makers as to whom you should pay When you should pay, and How much you should pay. As our Client, you have the peace of mind that we are not going to do something improper with your money. It is your money. We are Paper Managers. We are a Production Shop. We want the Number to Add Up to a nicely. We want our Clients to have lots of Customers and to Make A Profit on every Job. Always looking for the most efficient way to enter your data into QuickBooks, in a way that will give you beneficial reports, at a reasonable price and services that benefit both sides. Are We The Most Expensive? No, We Try To Be Reasonable But We Are Not Free   Free, Perfect, Now is the business model of Internet Search Engines. But even the Search Engines have figured out how to have “Add-On Fee-Based Sales” The world works better when everyone buys something from a cup of coffee, tools, and equipment to that Brand New Truck or movie and dinner with someone special. We welcome the following businesses from Brand New Contractor, Weekend Warrior, Handyman, Trade Contractor, Custom and Home Builders, Commercial Contractors and more. We Serve Contractors Across The U.S.A.   We Help “A Little or A Lot” depending on your needs including on-going bookkeeping services. Remote web-based QuickBooks for contractors bookkeeping, accounting & quarterly tax reports. We specialize in contractors including general, specialty and trade contractors, home builders and commercial tenant improvement contractors. We Can Scan Your Important Receipts And Invoices to provide you with a CPA-ready packet for your tax return, and we provide ongoing Cloud Based Contractors Bookkeeping Services by accountants who understand construction. Contractors Who Need Extensive Financial And Job Costing Reports we use QuickBooks Desktop In The Cloud. We serve new and seasoned contractors in residential, commercial, remodel and home building who need professional-grade contractor bookkeeping and accounting services including invoicing (Flat-Rate, Not-To-Exceed, Time & Material, Cost Plus), Washington State sales tax returns, payroll processing, quarterly tax reports, construction job deposits, work-in-progress, WIP, retention, residential and complex payment applications, liability insurance audits and business processes. For the “Best Value” we practice “Flat Rate” pricing whenever possible. Does QuickBooks Frustrate You? If you answered "Yes" you are in good company. We invested over ten years developing several customized QuickBooks setup templates. We have QuickBooks setup templates for all of Construction Contractors shown below and more... Short List Construction Contractors We Serve Brand New Construction Companies    Handyman Companies        Cabinet Installers    HVAC Contractors        Carpentry Construction Companies    Insulation Contractors        Carpet Installers    Interior Designers        Commercial Tenant Improvement Contractors Land Development Companies      Concrete Contractors    Landscape Contractors        Construction Companies    Masonry Contractors        Construction Managers    Mold Remediation Companies        Contracting Companies    Moss Removal Companies        Contractors    Painting Contractors        Custom Deck Builders    Plumbing Contractors        Custom Home Builders    Pressure Washing Companies        Demolition Contractors    Remodel Construction Companies        Drywall Contractors    Renovation Contractors        Electrical Contractors    Restoration Contractors        Emerging Contractors    Roofing Contractors        Excavation Contractors    Spec Home Builders        Finish Millwork Contractors    Specialty Contractors        Flipper House Contractors    Subcontractors        Flooring Contractors    Trade Contractors        Framing Contractors    Underground Contractors        General Contractors    Utility Contractors        Glass Installation Contractors    Other Professional Services        Gutter Installation Companies  We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Contractor QuickBooks Digital Products Available HERE! Construction Company Owners with specialty accounting and bookkeeping services needs.  Our clients are brand new and seasoned small contractors in service and repair, residential, commercial, remodel and home building. Company Size there is no such thing as ever being “Too Small” Many of our clients are one person construction companies with an idea and the desire to be in business for themselves. Hiring employees is optional.  Clients include busy professionals and independent contractors who want someone else to deal with their piles of paperwork so they can do “The Fun Stuff” which is what they do best. Whether You Are Working out of your truck, home, the local coffee shop, commercial office space or The SnoKing Contractors Center we are your best choice because we work remotely from our office in Lynnwood Washington. Bookkeeping For Contractors In The U.S.A using QuickBooks enjoys using the desktop version you are familiar with on the internet inside a highly encrypted secure multi-user environment. This system allows you and your employees to work in QuickBooks at the same time. All you need is an internet connection, and you can save time, money and aggravation by reducing or eliminating computer network technicians. In our world, it is common for the new contractor (to us) to bring in a shoe box, file box, and all the receipts under and behind the seat of the pickup truck (with or without coffee stains) It is the type of puzzle we like. We also like being about to create something that helps the contractor understand their numbers and be able to make decisions. Only a small percentage of our Construction Contractor Clients want to have access to their QuickBooks file. Existing Contractors who are local have the option of bringing their paperwork to us. More of them embrace the Document Management System and send all of the documents electronically. I talk to clients on the phone often; see in person randomly as needed. The fantastic solution that allows our Contractor Clients to focus on their Customers. QuickBooks is just some place where we magically send the numbers to. Construction Contractors, Handyman Contractors, House Builders, Commercial Contractors and Trade Contractors like the QuickBooks reports; they just don’t want to watch or help the process of getting them from the pile of paper on their desk to QuickBooks. Happiness is when we send our Contractor Client’s their Year End Financials to them In turn, they meet their Tax Accountant and forward the Year End Financials, add personal documents, chat a few minutes and Leave. Leave knowing the Tax Accountant has what is needed to file the taxes. We have Contractor Clients all across the USA. Depending on size, a number of employees, and some other factors on whether a Contractor is a “Good Fit” to be an Outsourced Client. For others, we can Setup, Cleanup QuickBooks file and return to the Client for Do-It-Yourself bookkeeping and / or Strategic Business Consulting to help your construction contracting company grow at a steady pace. Staying on our Cloud Server is something that can be discussed on a case by case basis. (Very protective of the add-on products allowed on the server) Not all software plays well with each other. Cloud-Based Remote Access To QuickBooks Desktop Version! Paperless System For You To Store, Print, E-mail Documents Microsoft Excel Is On The Server For You To Use Your QuickBooks Desktop Version In The Cloud 24/7 Access!   Just A Few Mouse Clicks On PC Or Mac And Get: The Key Reports You Need:   Cash Report anytime YOU want it! Receivables report anytime YOU want it!   Payables report anytime YOU want it!   Profit & Loss statement anytime YOU want it!   Balance Sheet report anytime YOU want it!   Job Costing report anytime YOU want it!   Estimates Vs. Actuals report anytime YOU want it! Looking Forward To Helping Your Contracting Company To Be More Successful Offering tips and tidbits to Prospects and Clients, for example, Cash Management 101 according to Sharie (me) is the same for a larger company as the brand new contractor use just had his or her first sale. Cash 101 is all about protecting the money. Losing a debit card with all the money is still All The Money no matter what size the business is. Most contractors are on a thin profit margin. Forgetting to charge sales tax is a 10% or more hit. Forgetting to get signed Changes Orders can be costly. The list can go on and on and on. Welcome New Clients, Former Clients, and pleased to be of service to our Existing Clients To our friends around the world, thanks for reading our blogs, listening to our Podcasts. We keep adding products on the FastEasyAccounting.com/store to be of assistance. If you need something special – Just Ask (we may be able to easily add it to the store) We Help “A Little” or “A Lot” depending on your needs. Thinking Happy Thoughts To Everyone Everywhere. 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 [email protected] I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have, for now; please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. Contractors Like You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! 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! If you would like to learn about what makes construction accounting different from regular accounting, please visit www.FastEasyAccounting.com/ca Please feel free to call Sharie 206-361-3950 or [email protected] 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! If you are Thinking About Outsourcing Your Contractors Bookkeeping Services you are invited to download a guide to finding the right contractor bookkeeping service to fit your particular situation at www.FastEasyAccounting.com/hs Thank you very much, and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast where We Remove Contractor's Unique Paperwork Frustrations   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected]   Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Get_Better_Results_When_QuickBooks_Is_Cleaned_Before_

This Podcast Is Episode Number 0211 And It Will Be About Contractors Messy Bookkeeping Issues Solved Messy Bookkeeping Happens Just A Little At A Time When Contractors are doing their own bookkeeping, it becomes a problem that grows and grows There is not any limits to the number of transactions that can be entered into QuickBooks improperly. Messy files build transaction by transaction or more simply put invoice by invoice, receipt by receipt all can be entered into QuickBooks improperly. There is no popup that says “This Is WRONG” – Do It Over. Unlike loading the dishwasher or washing socks which have an end. You run out of dishes or can’t find clean socks. Filling up the dishwasher will magically produce clean dishes. After loading, adding soap, and pushing start the rest happens automatically.  Quality of clean dishes depends on soap, how you load the dishwasher and finally, pre-rinsing is optional depending on the dishwasher Same with the washing machine, fill up the machine, add soap, and turn on the machine. Better results happen with a little bit of sorting by clothing type or color. The washing machine will wash either way. Yhe clothes will come out clean. The unanswered question until the load is done is: Will the T-shirt still be white? Are the colored clothes the same exact color as when they went into the washing machine?   Many Contractors Practice The Keep It Simple Method For Bookkeeping   Put all of the receipts in the drawer. Out of sight and out of mind. The drawer is next to the computer with the QuickBooks for Contractors or other Bookkeeping Software on it.   Using the power of Wishful Thinking; the hope is that the transactions will “Magically Appear” into the Bookkeeping software without any additional assistance from them.   Unfortunately, with all of the technology available; it still requires the help of a “Real Person” with skills to know where to put the transaction into the system. Does Income Exceed Outgo? – Short Answer Yes, there is still money in the bank, and ALL of the bills are paid. Do Problems Come From Not Knowing What To Do?   The bank only knows what has been deposited, what has cleared and the balance left in the account. Without an accounting system that tracks all of the income and expenses, How Do You Know?  It is easy to put everything on Auto Pay and forget it. Unfortunately, your clients have higher expectations and may not be willing to pay you based on when your auto-pays will be coming out of the checking account. Throw enough money in the checkbook, and everything will be ok – Right?   In the short term, all is great. It is called “Robbing Peter To Pay Paul.” In other words, you are paying yesterday’s bills with tomorrow’s money. This works perfectly when the economy is booming, and work is plentiful. You can take that job deposit and go to the nearest Truck Dealership and buy a New Truck. Money is coming in fast like a spring thaw; no end in sight. No big deal with supplier bills or subcontractor being paid twice. There is enough money for everyone. Unfortunately, that was not the way it works forever. Outside forces can cause the world of Construction to go from a Boom to a Bust in minutes, and recovery usually takes longer than a few days.   For Example Weather related Floods, Hurricanes, Earthquakes, Avalanches, Mud Slides, No Snow, Too Much Snow. Bridges crash for a variety of reason. All of these things can cause Major Interstates to be closed. Other economic factors can cause businesses to lay off workers or close. High fuel prices and everyone stays home. I remember waiting in Long Lines to be able to “get gas.” Your day depended on the last digit of your license plate. About that same time, it seemed like Houston, Texas would be a “ghost town” forever. In 1971 there was a billboard in Seattle and had “Would the last person leaving SEATTLE - Turn out the lights” and look at it now. Downtown is dense, full of skyscrapers, building projects everywhere and lots of traffic. Construction Contractors Face Challenges of Feast and Famine Depending On Your Local Area The last few years in many areas of the country has been extremely tough on Construction Contractors. Some areas became the New Boom Towns while other areas declined or stayed the same (no growth and limited decline)        Contractors adapted what they did, and whom they worked for and survived. Contractors were financially able to close shop and weather the storm.   Contractors went back to work as employees of other contractors Contractors changed professions Contractors changed lifestyles Contractors retired The economy is picking up in many areas of the country the need for contractor bookkeeping increases.   Contractors are going back to work. Able to charge reasonable prices (versus cutting bids just to keep working) For a long time; it was very depressing for Contractors to look at numbers when they know there is limited money for personal.   All income going back into the business in the form of tools, trucks, equipment and material for the job: Hoping the get by without any major truck breakdowns.   Hoping that the weather would be good and the jobs would keep coming in.   Hoping to get back to the part of Construction the Contractor likes to do and not just what it takes to keep going. Many contractors took on additional businesses or business types just to be able to keep going Many of these 2nd and 3rd businesses were not directly related to their primary business. They found a “Need” and “Filled It” and made a little extra money along the way. Most New Construction Builders do not want to do a Custom Home Project Most Custom Home Builders do not want to do Large Additional Projects Most General Contractors do not want to do Small Remodel Projects Most Remodel Contractors do not want to do Handyman Projects Most Trade Contractors do not want to do more then (1) trades unless it is related. The Common trait for all these contractors is that “Contractor Did What Was Needed To Provide For Their Family.” Contractors did their own bookkeeping. Spouses helped with Bookkeeping, Paying Bills, and Answering Phone. Many spouses are “self-taught” because it didn’t matter if the training was available; there was No Money.  Now both Contractors and their Spouses want to know: Are We Making Money Or Losing Money? Is that “5 Cents” in the checkbook Our Money to spend as we please? Is that “5 Cents” in the checkbook already spent and the check has not been entered? Is that “5 Cents” due to a supplier or for some other bill coming I don’t know about yet? Does the “5 Cents” belong to The Government (Local, State, Federal) in taxes I don’t know about? We Are Here To Help – We Know What To Do – You Do Not Need To Train Us To Do Our Job We have a Customized Setup for the QuickBooks Desktop Version and process that make it simple for you to come on-board. We know what works. Our System Is A We Process - As the Client, you still do the parts that only you can (and should do) Meet Your Customers, Create Bids, Create Invoices, Collect The Money, Pay The Bills. Our Part - Putting all those Transactions in QuickBooks in a way that produces useful reports for You and Your Tax Accountant. Your Tax Accountant looks at your numbers (1) day per year.   You Part - Is you have to live The Good, The Bad, and The Ugly and all their consequences the other 364 days of the year.  As a Contractor, you have to make decisions every day.   We Are Here To Help - We Know What You Need and Why You Need It. Starting Where You Are Now We can clean up your QuickBooks file (Desktop Version) and get it current. Starting With Yesterday We can clean up your QuickBooks file going back as many years as you want. Looking At Tomorrow We can provide Ongoing Bookkeeping Services.   Part of that service is reconciling the checkbook, entering invoices, receiving payment. All of these things (and more) lead to having good Financial Reports. With better QuickBooks Reports, you can make better decisions. Have More Time to do the things you want to do with your Life, Family, and Friends. Looking Forward To Getting Started Enjoy Your Day.      Sharie 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 [email protected] We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors Messy Bookkeeping Issues Solved

This Podcast Is Episode Number 0210 And It Will Be About Contractor Bookkeeping Basics Explained Contractor Bookkeeping Basics and Why Today’s technology says “Do Everything On Your Phone” Use an app to create an estimate, or better yet just send the estimate in the body of the email. That works when the customer’s reply is “Do It”. Great you start the job, finish the job, never send the customer an invoice; Why – They Don’t Need One – they know how much to pay from your original email. and you Included short explanatory paragraphs about each item of work you did. You move on to the next job. Weeks go by. If the customer is expecting a “formal invoice” and do not plan to pay until they receive one. More time passes; you are waiting to “GET PAID” and the customer is waiting “To Pay You”. Some customers will take the extra effort to call, leave a message, text, or email you asking for the invoice so they can pay.  MANY customers will say nothing until The Contractor sends the invoice they are NOT Paying and NOT doing any follow up. Months go by, and still, no check arrives.   Many contractors think they have someone who hasn’t paid but are unsure of who the customer was. Often times the contractor feels too much time has passed and doesn’t try to go back and bill old customers. What came in the mail was all of the supplier invoices for the job. All of the subcontractor invoices, and YES, the payroll for the job has been paid. The person who did NOT get paid was The Contractor. Get The Money, Collect Ongoing Payments, Get Job Deposits – Use Customers Funds for Material. DO NOT BE THE BANKER FOR YOUR CUSTOMER! Contractors are not bankers! First Step No matter what app you use. Make sure it has a “mini” invoice program for emailing customer an invoice. You can then go back and have a paper trail that you asked the customer for money. Second Step Track your time Use T-Sheets to keep track of the jobs you were on. (This is good for Contractors who do not have employees) What If you have to lien the job? One of the questions are when was the last day on the job? The answer could be the difference between having any lien rights and collecting the money or getting nothing but attorney or lien service fees. Use a Lien Service for Notice to the Owners on larger jobs. Double check with your supplier. Does the supplier send out Notice to the Owner? Even if your Lien Rights are gone – Maybe your Supplier’s Lien is Valid and Collectable.   Third Step Accept Credit Cards. More customers have room on their credit card than “Cash In The Bank.” Getting Money Now offsets the fees charged by your Merchant Service Provider. Many services that offer invoice programs (Estimating Software, Dispatch Software, Invoice Software) have an add-on feature for Merchant Services. Customer follows the link, puts in their credit card number or bank routing and account number for easy payment.  Again, worth the fees to GET PAID NOW! Behind the scenes, every Contractor should do additional Bookkeeping. Some invoice programs will track the payments received, but that is the extent of the bookkeeping. The Contractor’s Bookkeeping needs go beyond sending an email to the customer with the price of the job and taking the check to the bank. Customer Invoice Tracking knows Who Owes You Money AND How Much A proper Construction Contractor Bookkeeping System is setup to create a Customer Invoice. Receives Payment. Seeing the balance if anything is owed. Accounts Receivable Aging Report is one of the reports banks look at before giving you a business loan. Bankers want to know What is your volume (sales) What have you collected (customer payments) and How Much Do Customers Still Owe You and finally How Long Does It Take You To Collect. In some industries 30-60 days is common.   I have heard stories about larger retail stores who paid promptly after the first 6 months. It was surviving the first 6 months that was hard for smaller suppliers and Tenant Improvement Contractors. Accounts Payable is keeping track of the bills owed to a supplier or subcontractor. A proper Construction Contractor Bookkeeping System uses the Accounts Payable feature to track the unpaid bills. Again, the Banker wants to know how long it takes to pay your bills. The Bank wants to get paid and unlike The Contractor who is embarrassed to call an old customer; The Bank is very willing to Call Early and Often for any outstanding payments due.   Another reason to keep A proper Construction Contractor Bookkeeping System is so you don't Over Pay a supplier or subcontractor, cell phone, the internet, liability insurance, vehicle insurance and more. The bills keep coming and depending on your payment schedule you may receive the Past Due Reminder Notice before the Original Bill has arrived. Some utility companies have a history of what appears to be randomly sending Original Bill Some insurance companies if you do not immediately pay the invoice when it comes then the payment will be late and subject to a late charge. Based on where the Out of State payment needs to be mailed to it may be impossible to mail (by regular mail) and be received on time.   Hence – Online Payments Accepted. The benefit to The Contractor is proof the payment was made with a time and date stamp (Print) and usually an auto-generated email as backup confirmation that the payment was made.   Overpaying Sub Contractors can easily happen if checks are written on the job site. When using Hand Written checks be sure to use “Carbonless Checks” to have a written record of payments made. The payments than can be added to the Bookkeeping System without waiting for them to clear. Bankers like the reports from a Formal Contractor Bookkeeping System (QuickBooks for Example)   It is an easy to understand report. Bankers can usually tell if the numbers are off because there is missing transactions, no enough income, too many expenses.   Contractor’s who do their own bookkeeping and are sometimes “Just Lost” Depending on the banker they use. Whether or not you get the loan or line of credit, you are after depends heavily on the way your Financial Reports are put together. The Net Result is that the Rates and Fees charged maybe higher and Amount Loaned maybe lower than expected! Another Group That Likes Formal Bookkeeping System is the Local, State, and Federal Governments (IRS) City Governments can require their revenue reports and payment due Monthly, Quarterly, Annually. In Washington State; The Department of Revenue can make every contractor report and pay their Sales Tax Liability Monthly. For Companies with employees, Washington State Payroll taxes are due Quarterly.   The Internal Revenue Service want the 941 Quarterly Payroll Reports filed Quarterly. If tax liability for the Quarter is over $2500.00, then the payments are due Monthly. Larger companies have to pay their payroll tax liability at the time of each payroll. Reminder Estimated Tax Payments are due Quarterly.   Our Contractor Clients Enjoy Having QuickBooks Desktop Version In The Cloud Paperless System For You To Store, Print, E-mail Documents Just A Few Mouse Clicks On PC Or Mac And Get: The Key Reports You Need: Cash Report anytime YOU want it! Receivables report anytime YOU want it! Payables report anytime YOU want it! Profit & Loss statement anytime YOU want it! Balance Sheet report anytime YOU want it! Job Costing report anytime YOU want it! Estimates Vs. Actuals report anytime YOU want it! QuickBooks Desktop In The Cloud has the most flexibility in providing reports for all the of Contractors. From Brand New Startup, Handyman, Specialty Trade Contractor, General Contractor, Custom and Spec Home Builder and Commercial TI Contractor. Every contractor, even you, have common needs that QuickBooks can easily provide. With our Customized QuickBooks Setup we are able to setup QuickBooks to meet the additional needs of the individual contractors.   In The Future: As your Contracting Business grows and changes you may find additional services located on Fast Easy Accounting Store https://www.fasteasyaccountingstore.com/ that may be useful and helpful. Consulting is always available. (Outsourced Accounting only available in the USA) We Help “A Little” or “A Lot” Depending On Your Needs. Enjoy your day. Sharie I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractor_Bookkeeping_Basics_Explained

This Podcast Is Episode Number 0209 And It Will Be About Contractors Struggle Over Choosing The Right Bookkeeper Contractors Struggle Between The Cost Of Having A Bookkeeper And The Value Received Because All Contractors Want To Have Is Peace Of Mind   Number 1 Frustration is discovering the contractor knows more about Construction Bookkeeping And Accounting than the bookkeeper they hired to do the job. Contractors end up trying to teach The Bookkeeper to do the job thinking every little bit helps.   Number 2 Frustration is the Construction Bookkeeper asks “Is that part of my job description?”   Number 3 Frustration is the Construction Bookkeeper will “Go beyond their duties and authority.” General frustration towards all employees who feel that no matter what pay rate, benefits and number of hours worked there is “No Appreciation” for what the Contractor is doing for them. When times are slow, or there is a lag between jobs The Contractor goes to great lengths to keep the employee working.   The Employee is guaranteed to receive pay based on Hours Worked.   Productivity on the part of the employee is optional. The Contractor has no guaranteed profit, or to even break even on the job. Contractors do not have the luxury of going home at the end of 4 hours, 8 hours, at 5:00 PM, taking off the weekend and forgetting about everything until Monday morning. They would like to; but instead, the Contractor is planning, making phone calls, sending emails, meeting clients, ordering material, deliver the material or supplies, so the Office Staff and Field Employees have the tools and equipment needed to do their job.   The Contractor is researching apps and software to make the job easier for themselves and their employees. Time tracking software has the added benefit of GPS. Dispatch software has the added benefit of choosing the best route and the most efficient order in which to schedule the jobs. The Contractor Does Not Need An App To Know Where To Go And What To Do When He Gets There.      The Contractor is squeezing Time to get the most out of every minute. In addition to their own job which includes “Pick Up Work”; completing the jobs left undone by employees to stay schedule and GET PAID!    Common Complaints Contractors Have About Field Employees · Chasing Timecards and receipts · Messy Paperwork or none at all · Mistreatment of Tools and Equipment · Not being proactive and getting fuel in the vehicle · Cleaning up the job, vehicle, dealing with the trash · Being polite and respectful to clients, fellow employees, management The Contractor Is Exhausted Long Before It Is Time To Begin Working On Their Paperwork The Last Thing You Need Is One More Problem, One More Task, One More Anything · Frustration is Looking at QuickBooks and the reports do not make sense. · The contractor doesn't know why the reports are off they just do. · Why is there are a Ton of Bills To Pay after the job is over? · How can there be so much profit on the report; and No Money In The Bank? · Why Am I Not Getting Ahead? The Bookkeeper (who might be the spouse) can only put in the information provided. · Bank Statement and Credit Card statements can be reconciled. · Reconciling Statements are important but will not tell the · The contractor wants to know what jobs are profitable. · Only tying the receipts (COGS) to the jobs and properly entering in the income will produce job profitability reports.   Advice For Better Cash Flow · Get The Money, Get The Money, Get The Money! · Immediately Get Change Orders Signed (and paid) · Be Sure To Charge Sales Tax (if it applies) · Take Advantage of Supplier Discounts When looking at a QuickBooks File there are some common issues that I find: #1 Cash Is Off (How Much Money Is On Hand) · Bank account(s) is not reconciled · Why is this important?  Because when the bank account has been reconciled you the checks that have cleared. · Uncleared checks may also not be in the QuickBooks file. · Are you using Carbonless Wallet Checks to be able to see what checks you have written? · Are checks being written at the Supplier’s order desk? · Paying subcontractors without having an invoice to match your records? · Are you using a “Lot of Cash” without any receipts? · Is the nearest ATM one of your regular stops? #2 Accounts Receivable (Who Owes You Money) · Customer Invoices are not in QuickBooks · Why is this important?  It is impossible to have Job Costing without customer invoices.   · It is impossible to properly keep track of outstanding Customer balances unless the invoice is in QuickBooks · Customer Payments are entered in as deposits directly into the checking account. · This means without the Customer Invoices in QuickBooks – the Sales By Customer Summary is not there. · This means that there are no Job Profitability Reports · Forgotten Invoices To The Customer is the Largest Cause of a Financial Problems · Change Orders are often Forgotten to be billed by the Contractor · Change Orders to be “Dealt With Later” are considered “Part of The Original Contract” by the customer. · Change Orders not signed by the Customer are then not considered valid in the event of a dispute.   #3 Accounts Payable · Just writing the check to a supplier or subcontractor and entering payment directly into check register · When a bill has been entered into QuickBooks; unless the bill is paid from Accounts Payable is continues to show as an unpaid bill. · When credit card balances or monthly payments are put into Accounts Payable instead as a credit card it distorts the financial statements · When Owner’s Draws, Federal Tax Payments or IRS Payment Plans are put into QuickBooks as an Accounts Payable, it helps the Contractor to remember to pay the bill.  Distorts the financial statements. · Credit Cards are not entered into the Bookkeeping as Accounts Payable or lump sum numbers. · Every transaction should go into QuickBooks.   #4 Profit And Loss · Missing Income will reflect a Loss that is not true · Missing COGS or Expenses will reflect a Profit that is not true #5 Balance Sheet · The summary of everything that happened in the business · Assets which includes Cash, Accounts Receivables, Job Deposits, Tools, Office Equipment, Vehicles, Inventory.   · Liabilities which includes all forms of Debt; Credit Cards, Accounts Payable, Taxes, Long and Short Loans, Vehicle Loans · Equity which is the value of the company.  It becomes a simple math problem. · No equity you are not in business.    · Some equity are you just starting out or have a hobby · Lots of equity you are “Green and Growing.” Everyone can have a bad year or several years. What are you trying to do make it be better? Good Accounting can help you plan and make the proper decisions that are right for you.   · Do-It-Yourself Bookkeeping (you or your spouse does the bookkeeping) · Hire An Employee or in-House Bookkeeper (larger firms this may be your only answer) · Outsource Your Accounting to Fast Easy Accounting. (We know what to do) · Fast Easy Accounting in the most simplistic form is a “Production Shop” who has to manage processes to keep costs fair for both sides (Fast Easy Accounting and The Contractor). It’s a moving Train (see our logo)   · As much as we would like to – We cannot help everyone.  Sometimes it is not a “Good Fit” for one or both sides.   · Without processes, the contractor bookkeeping and accounting are in chaos. · As it is the Bookkeeping can be a little messy as we work through it. · What We Need vs. What We Receive and When We Receive It.  The Bookkeeping Department shouldn’t be the last to know. No benefit to missing documents.   · The Bookkeeping Department should NOT have check writing authority (owners need to be involved) · Without Good Bookkeeping (Construction Accounting) you The Contractor are driving behind a Semi Truck that just ran through a Big Mud Puddle in a Snow Storm, and your windshield wipers aren’t working fast enough. Wouldn’t it be better to be in a nice clean Car Wash instead?   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Struggle_Over_Choosing_The_Right_Bookkeeper

This Podcast Is Episode Number 0208 And It Will Be About Twenty Unique Benefits To Have Your Contractor QuickBooks Desktop In The Cloud QuickBooks Online Is Not The Same As QuickBooks Desktop In The Cloud At a quick glance, it is easy to think that all QuickBooks files are the same no matter if it is on your desktop or in the Cloud because it appears to be the same product. Nothing could be further from the truth. QuickBooks Online is slow and clunky and changes early and often so just when you think you understand it... QUICKBOOKS ONLINE CHANGES! SOFTWARE PEOPLE LOVE CHANGING STUFF! CONTRACTORS LOVE GETTING STUFF DONE! QuickBooks Desktop Version has been around since 1991, and it has improved at a stable pace that contractors and accountants can keep up with. For the past several years our contractor clients have enjoyed the having access to the tried and true QuickBooks Desktop version in a Cloud environment. Why do I like using Cloud-Based Servers? For all the same reasons every Contractor has web access to their bank is to see “The Numbers!” Money In: Have my Deposits posted and cleared?   Money Out: What checks have cleared? What’s Left Over:  How much money is in The Bank? You can access QuickBooks Desktop anytime from anywhere; using your smartphone, tablet, notebook, PC or Mac. Your QuickBooks In The Cloud Is Backed Up Every Night While You Sleep! Most small Construction Contractors like you find that working traditional hours of 9 to 5 is not realistic. Being a contractor your hours are dictated by the needs of your prospects, customers, and clients. This means as a Contractor, you may be creating an estimate, proposal, invoice, paying bills or making an electronic deposit to your bank before 9:00 AM or after 5:00 PM (Monday - Friday) You are working in the early mornings, evenings, on weekends before breakfast or after dinner, on Saturday’s, on Sunday’s and usually some time is devoted to business when you are on vacation. It Is Unusual For A Contractor To Take More Than A Couple Days Off At A Time Ten minutes here and there or an hour of productive time (without interruptions) can save even more time. For many contractors, a formal office looks like the seat of their truck parked at the near a Wifi spot. Why Wifi Spot – Because Contractors need to create the invoice, look up something at the moment to get it off their plate then move on to the next opportunity or crisis.   I chatted with several Contractors this week have been home because of weather-related issues. For those without outside offices. when at Home; they are at their 2nd Office. (Primary Office is their Vehicle) For Larger Construction Contracting Companies, The Choices Are: Wait until they can get to the office. Try to go into the office even though they should stay home. Remote access and tie up a computer if QuickBooks is on a Desktop. Bad idea – If the employee made it to work; you are using their computer and they being paid to wait. Challenges For Contractors With Staff Can Be Solved With QuickBooks Desktop In The Cloud     You are able to review reports from home, after hours. You can work on a Bid, Estimate, Change Order You can review your payables and pay bills If there is a problem – much easier to take proactive action and Lock The File Down.   Too many contractors have faced issues with their in-house bookkeeping staff “Taking Control” going beyond the scope of their authority (sometimes even implying to customers and vendors they are owners). Bad Bookkeepers destroy more Construction Companies than you can imagine! Owners (or their spouses - the ultimate partners) need to be watching the numbers and THE MONEY There is a difference between assigning duties to an in-house Bookkeeping Staff, Office Managers,  or Project Managers;  giving them access to Company bank account and authorization to sign checks which is the path that often leads to Bookkeeper Embezzlement. Your QuickBooks Desktop File Is Safe In A Secure Environment – We Use An Intuit Approved Commercial Host. Why an approved Commercial Host versus any Cloud Hosting Service? To become an Intuit Approved Commercial Host they have gone through Intuit’s rigorous approval process. They must be able to document the servers are located in a Data Center with security and encryption. In simple terms, your QuickBooks files are located at a data center more secure than your bank which means it is safe.   It is not resting in someone's basement waiting for a flood or in a closet without 24/7 armed security. I have listened to contractors tell horror stories about in-house servers being downstairs in a basement and the basement being flooded and several cases their home offices being broken into by disgruntled employees while they were on vacation.(Click here to read about Remodel Contractor - Edmonds WA) I Love Having Tech Support Available By Phone, By Email, And Better Yet - Not My Direct Employees! The Commercial Host creates backups and tests the latest QuickBooks updates before installing them. Part of being a good commercial host has a plan to prevent the server going down and restore plans if it does. Sometimes our server has been down or slow, and a few times the Data Center has been down; Server by Server rolled over to a different data center and was back up within a short space of time. Our Data Center was not part of the recent “Big Outage” causing Amazon.com and other sites to be down. We have been down longer due to a local Power Outage (truck hit a power pole, we lost power and the internet) versus any outage on the server. It is not practical for us to be without internet and access to our Client’s QuickBooks files and other web-based programs.   Because everything is in the Cloud – we just went home; turned on the computers and went back to work. As a commercial office, we are required to have a fire alarm system which is hard wired using a land line. As a backup, we added internet to our landline service. Between them, we are up 99.99% of the time. On January 25, 2017, A Few Blocks From Our Office A Fire Destroyed New Construction Project http://komonews.com/news/local/crews-battling-3-alarm-fire-in-lynnwood The Fire impacted the apartments and businesses on each side, across the street, and down the block. The street was closed and blocked by police 24/7 for weeks and just recently opened. The remains of debris are still on site and visual reminder of how quickly something bad can happen. Contractors Constantly Balance Multiple Demands On Your Time Taking Care of Their Own Family Doing What Needs To Be Done Helping Others Staying Safe Bad Weather: If it is a hurricane you have time to prepare. Tornados - I guess not so much. If you had 10 minutes or less to leave; what would you grab to take with you on the way out the door? Family Pets Checkbook Wallet Keys Clothes if you have time The Last Thing On Your Mind Is Packing Up Your Business Records And Computer! Accessing Our Cloud Server Is Available To Outsourced And Do-It-Yourself Clients Looking forward to being of assistance. Sincerely, Sharie DeHart 206-361-3950 [email protected] 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open   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                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Benefits_To_Have_Your_Contractor_QuickBooks_Desktop_In_The_Cloud

This Podcast Is Episode Number 0207 And It Will Be About Contractor Vs. Tax Accountant View Of Financials Contractors View Of The Numbers And Tax Accountants View Are Different Tax Accountants Review Financial Statements After The Year Has Ended The Tax Accountant’s Role Is To Review The Previous Year Financial History based on the information provided create and file the Annual Federal Tax Return, Annual State Tax Return, and other Local or Payroll Returns. Washington State is a sales tax driven state. Other states have a State Income Tax, and others yet have a blend of both. The Contractors Role Is To Review What Is Happening Now and make Strategic Decisions about what to know in order to have a brighter financial future. The best way to do that is to have QuickBooks Setup to deliver your 5 Key Performance Indicators (KPI) in 5 minutes a day at 5 pm or whatever time is best for you. We call them the 5 At 5 For 5, and we can set them up in your QuickBooks for you! Click here to learn more. Every Construction Contractor Should Have A Tax Accountant Prepare And File Your Annual Tax Returns Congress passes a ton of laws which each one could have zillion pages with addendums and other attachments that will make all the individual bills even harder to understand. Tax Accountants need to keep track of all of these changes. Changes – Question is What impacts Yesterday, Today and Tomorrow. A single bill may include all three possibilities. The condensed Version of the U.S. Master Tax Guide [year] (copies provided by your local Payroll Services) is very similar to size and font of the OSHA Book. In other words, the U.S. Master Tax Guide is  “Fat” like how the telephone books used to be. When discussing the U.S. Master Tax Guide, it is a book  and can be described as a “Thick Book With Very Tiny Print.”   Just The Book that everyone wants to read on a warm, cold, hot, sunny, rainy, cloudy Saturday afternoon. (Not - for those who might be missing my humor). I have copies of several years of U.S. Master Tax Guides, and every one of them is 1000 pages. Remember this is the condensed version referencing only the Most Common tax issues. I expect my Tax Accountant to know The Answer to everything that I may encounter and how to properly deal with it on my annual tax return.         Once The Tax Accountant Has Your Financial Statements It Is All “After The Fact” Accounting. The end of the year has passed. Many of us automatically file an extension so it may be closer to September so “The Past” really is the past.  Way past time to say, I wish I had done this instead. You can say it – It just won’t change the outcome of previous decisions. There are limited “things” the Tax Accountant can move, change or adjust. The year is over. The real question is “How Much Do I Have To Pay?” If you have paid into the Internal Revenue Service via W-2 or Estimated Taxes, hopefully, the amount due will be close to Zero.   Tax Accountants Are Busy, And Everyone Wants Their Returns Filed. Yes, you can be the first one on your block to get your taxes done but is that a good idea? In my opinion, as a business owner, you do not want your Tax Accountant to roar through your tax return, get it done quick, without really reviewing your individual circumstances. Side note, those with College Students on Financial Aid always need to have their returns completed early to meet the Federal Deadlines.       Everyone usually receives from their Tax Accountant a “Tax Booklet” with check sheets to help prepare for documents the Tax Accountant needs to complete the Annual Tax Return. Usually, this Tax Booklet is geared towards what the Tax Accountant needs to complete the Personal Return.     Tax Accountant is hoping everything is in the Business Financial Statements and there are just a few things left to do to be able to complete the annual Business Return. Tax Accountants Are Paid To Fill Out Tax Returns Not Save You Money Or Mentor You We Are Paid To Do Your Contractor Bookkeeping Your Profit And Growth Mentor   Tax Preparers Normally Only Do The Following: · Figure Out The Vehicle and Equipment Depreciation · Look for missing expenses (usually not very hard) · Ask for Cash Receipts (only in passing) · Review Meals and Entertainment (big-ticket meals or excessive meals) · Review for items that are really Owner Draws, Loan to Members or Loans To Shareholders · Owner Equity put into the company (only if they see it) · Other Assets (Job Deposits | WIP) · Other Liabilities (Short or Long Term Notes) · Petty Cash (will ask if you have Cash On Hand) · Suspense (should be cleared out to Zero) · Ask My Accountant (need to have receipts and details to help identify who, what it is for) · Anything that looks Odd (Tax Accountant does not want an audit, so it is better you overpay taxes) Tax Accountants Work With Messy And Incomplete Records To Do Their Job They appreciate a good set of Financials from a Contractors Bookkeeping Services (Fast Easy Accounting). Sometimes Tax Accountants have to be the “Big Person” and refuse future service until the bookkeeping is in a more organized set of financials that they can use. The last thing a Tax Accountant wants is an audit. Finally, the Tax Accountant is ready to start all over and review your Personal Income and Deductions, and then they are able to produce for you two Annual Tax Returns. Depends on the individual returns, and when you are filing whether you can file the returns electronically. Hopefully, you have paid enough in personally to be able to receive a refund.      Tax Accountants Rarely Have Time To Give You More Than The Basics toward Tax Planning beyond the different IRA’s and 401K’s. The Reality is that most of the time The Contractor is ready to leave because the whole process is similar to going to The Doctor. The entire experience of taxes leaves you the Contractor feeling exposed. You know that funny feeling where you have on “The Gown” and your blood pressure immediately rises when the doctor walks in and closes the door. Contractors View of the Financial Statements Contractors are just a little bit annoyed if they want real answers about their business and discover the Tax Accountant is really good at rolling up the numbers and having a Tidy Tax Return but most of them are clueless about construction.   The Contractor wonders why if they are both looking at the same numbers on the Financial Statements that the Tax Accountant cannot or will not be more helpful with answers needed in running their business.   The Short Answer Is There Is A Vast Difference Between Regular Accounting and Construction Accounting. Tax Accountants are a generalist and understand Regular Accounting. Tax Accountants have to be to be able to complete the maximum number of client’s tax return. In their world, the expenses are similar for all businesses. It starts out with Income – Expenses = Net Income or Net Loss. The bottom line number on a Schedule C is Net Income or Loss and is the same for all the businesses. S-Corps have its own return with the numbers passing through to your personal annual Tax Return.    My opinion is Tax Accountants like Personal Tax Returns better because they are like sweet, decadent desserts; whereas Contractor's Business Tax Returns are the vegetables (which is great if you love vegetables) because they have to deal with the Contract's Business Tax Return before they can get to the fun stuff. Or maybe it is just a business decision because everyone has a Personal Tax Return and only some of us have a Business Tax Return.   All phases of accounting and bookkeeping are a specialty including Tax Accounting, General Accounting, and Construction Accounting. Generally, Contractors Are Not Trying To Play “Stump The Wizard” when they are asking the Tax Accountant questions about their Financial Statements. Many contractors will have their Tax Accountant prepare Payroll, Payroll Tax Reports, State and Local Tax Reports (sales tax). Does the Tax Accountant understand your business, even a little bit? If the Tax Accountant does not work with sales tax issues on a regular basis, the contractor may have to explain the rules that impact them to their Tax Accountant. Each state is different is what and how they collect State and Local taxes. The most common thing is that “They Do.” The most basic question Contractors ask is “Am I Making Money Or Losing Money”? The next question is “Where Did I Make Money? It should be an easy question to answer. Unfortunately, when everyone is doing everything but tracking the paperwork and the money there are no answers to be found.   Without A System, It Is Impossible To Know If Your Employees Are Wasting Time And If Material Is Being Wasted This does not mean having a drone flying overhead watching their every move to start with by asking 5 simple questions: 1.    Do they have the Right Tools and Equipment? 2.    Do they know your expectations? 3.    Do they feel they are being paid fairly? 4.    Are they a Willing Worker and doing the job? 5.    Will they use an electronic Time Card? (T-Sheets) Part of the role of Management is knowing “What 10 Minutes Waste Costs You”In Washington State, the Worker’s Compensation rate is set by the individual tasks and then calculated by the hours worked. Other states have similar ways to calculate Workers Compensation or Insurance. In most states, Laborers and Apprentices have the exact same Worker’s Compensation rate as the Lead Person on the job.  Skill level is different, and the Contractor is always balancing the Cost of Wages against Value of The Skill of Each Worker.   Contractors are always faced with variables including costs that continue to rise after the bid has been accepted. One little hurricane can impact the cost of building material across the country. One little snow storm and delay truckers and the goods they carry. One little bit of sunshine is okay for days but months and months where is it not normal can be a huge deal. In Winter, you expect snow in the mountains to go skiing, rain in the Spring for flowers, the sun in the Summer to play, and a little frost in the Fall on the pumpkins.   With changing weather patterns, we all need to adapt. We are in the greater Puget Sound (Seattle area), and for years it was 350 days of rain, winter rain, spring rain, fall rain, maybe 15 days of summer. Today it snowed! Last week it snowed and the week before it snowed. Good News, the snow did not stay long and for the most part did not impact schools. At the same time, other places around the USA had different experiences.  Contractors Play A Type Of Sports Game Every Day Without The Rewards Of A Fat Guaranteed Contract. They go Up To Bat, Jump Through Hoops, Run Down The Field all in hopes of securing The Call, Creating The Bid, Closing The Sale, Preforming The Work, Getting Paid. Have a Life.   Contractors want to know “Are I Making Money” or “Losing Money” now “Which Job?”   Should I be doing “More of This” and “Less of That?” Sometimes is a little hard for The Contractor to be Happy and Full of Smiles when a project Goes Over Budget, you have Given Away Free Change Orders to Keep The Customer Happy and Discovered Material Is Way Over Budget.   If The Contractor has 30 day accounts the final bills are still coming in after the project is complete. If it is a Time and Material billing and the final invoice was created too soon; it is almost impossible to get additional funds from the customer. It is by exception, that additional funds can be collected and always get signed Change Orders and paid promptly over waiting to the end of the project.      Many times, Contractors think they have made money based on the fact that all the bills got paid and there was some money left over. With poor bookkeeping, it is hard to know because the checking account may be reflecting checks that have not cleared, deposits from the next job, personal funds deposited back into the account to cover last minutes’ expenses and forgotten.   Good Construction Bookkeeping is the solution A little bit of effort towards Job Costing can be very helpful in understanding the numbers. The Key is asking the Right Professional the right question. Tax Accountants understand how to roll all the numbers up from the different aspects of your personal and business life into a summary Tax Return for the Internal Revenue Service. Construction Accountants understands the numbers in your business and where to properly put them. Your Banker looks at both sets of numbers and decides if you are credit worthy for a loan. Get a Board of Advisors NOW! The Contractor and Contractor’s Spouse look at the numbers and either Smile and say “WOW” or Frown and Say “Ouch” “Oh Crap” or something much more descriptive.   No matter which way the numbers are from Fantastic to In The Toilet The Next Step is Now What Do We Do?   We are here to help. Let’s Chat! Wishing You The Best Every Day. Sincerely, Sharie DeHart Sharie 206-361-3950 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_Contractor_Vs_Tax_Accountant_View_Of_Financials

This Podcast Is Episode Number 0206 And It Will Be About Saving Time & Increase Profits with Automated Data Entry Today's Guests On The Podcast Is From Michelle Dulog and Chelsey Kruger Representing Personable Inc. Do you feel like you’re losing more and more time to tedious manual data entry? Manually entering financial transactions is no easy task and often times robs you of time better spent growing your business and improving your business experience. So what if you could automate data entry into QuickBooks and save 90% more time in the process? Now you can, with ScanWriter. What is ScanWriter? ScanWriter, developed by Personable Inc., is an easy to use automated data entry software. Its specially designed scan and populate technology helps business professionals across the world automatically enter financial transactions into QuickBooks, and other accounting softwares, from paper or PDF documents. ScanWriter aims to eliminate manual data entry, saving 90% more time for its users and relieving the physical stress associated with manual keying and typing. Built for any business professional, ScanWriter boasts various features to ensure 100% accuracy with every QuickBooks import. In addition to its exclusive accuracy check features, the software offers custom QuickBooks mapping features like auto-populated recurring transaction types for increased time savings. Its simple three-step process guides the user through data capture, data verification & mapping and data exporting. Just scan paper documents or browse for PDFs and watch ScanWriter rapidly capture every transaction. Easily customize, map and import transactions in to your QuickBooks file instantly. Supported Document Types Automate any computer-generated paper or PDF document: bank statements credit card statements Vendor invoices receipts checks general ledgers more…. Speed The software’s proprietary technology captures data at 1-5 seconds per page. That means you can enter thousands of transactions in just minutes. ScanWriter’s exclusive features help accelerate the data cleansing process and help save 90% more time overall. Accuracy At Personable Inc., we understand the severity of data accuracy and the power it holds over your business. Unfortunately, you can’t always dedicate the time needed to check and re-check for your data’s quality. That’s why ScanWriter was created to ensure 100% accuracy with every QuickBooks import. Easily identify invalid data with ScanWriter’s color coding system, source document mapping, direct editing, bulk editing, side by side comparisons and more. Process hundreds of documents and verify the accuracy all in one easy to view screen. Why Implement ScanWriter? Do you spend hours and even days on data entry or feel physically strained due to typing? Using ScanWriter, you not only eliminate the pain and stress of manual data entry but you can turn those days of data entry into mere minutes! Are you understaffed and overworked? ScanWriter is the like hiring multiple highly qualified data entry staff, and for a quarter of the cost! If you’re looking to grow your business, save on costs or just create a healthier work environment for your hard working employees, then ScanWriter can help. It saves time, lowers costs and opens doors to more business opportunities and business growth. Who can use ScanWriter? ScanWriter is built for every business professional, from government agencies, large accounting firms and CPAs to small nonprofits, contractors and individuals. But don’t just listen to us…see what actual ScanWriter users have to say! “Because of ScanWriter, we went from several days of work a week to only a couple of hours. ScanWriter is quick and easy to work with.” -Rebekkah Herrera, Accounting Operations Manager, Plumbing Mechanical Sheet  Metal Contractor’s Alliance “With the implementation of ScanWriter, I have been able to expand my client base by offering more affordable services. Days of work can now be done in minutes.” -Karen Fine, CPA, Managing Member of Fine Accountess, LLC. “What people do in a day, we can do in an hour with ScanWriter.” -Randell Toporowski, Owner, Golden Valley Accounting Want to learn more about ScanWriter? ScanWriter specialists offer free online ScanWriter demonstrations daily. Discover how you easy it is to convert your documents to QuickBooks entries instantly. Schedule a demo right now! Or call us at (800) 688–4281 or email at [email protected] for more information.   This Episode Podcast Guests: Michelle Dulog   Chelsey Kruger   ____________________________________________________________     I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant   Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_ScanWriter_Interview_With_Chelsey_Kruger_And_Michelle_Dulog

This Podcast Is Episode Number 0205 And It Will Be About How Contractors Want Better Results Without Changing Anything Contractors Are Torn Between Over Or Under Managing Their Bookkeeping Contractors want to maintain control without making any changes. “Keep doing the same thing but expecting a different result.”   Throwing the receipts in a shoebox (behind or under the seat in the truck) is the favorite way to deal with paperwork. This is “Under Managing” and frustrates everyone around them who is playing “Where’s Waldo.” Job costing is nonexistent; bills are usually paid late, customers are unbilled, lost and forgotten. Micromanaging Every Detail Is An Over-Reaction From Years Of Doing As Little Bookkeeping As Possible To Get The Tax Return Prepared Just Don't Let Not Knowing What To Do Stop You From Making A Mess Of It Frustrated Contractors Call Me Every Day And Say: ·    I can’t get any reports ·    I don’t like the reports I am getting ·    My tax accountant is not answering all of my questions ·    How can I improve my business? Frustrated In House Bookkeepers Call Me and say they have inherited the “CRAP” from everyone who worked in QuickBooks before they arrived and are expected to produce good reports. Bookkeepers are expected to use: o    Old Equipment o    One Or Two Tiny Monitors o    Dot Matrix Printer (or equal – the noise an old printer makes when printing is unforgettable) Do you how long it takes to print on old equipment? Will it print a picture, jpg, pdf? It is a false saving to not buy new equipment. (What are 10 minutes costing you) Are you practicing “Seagull Management?” Fly in, make snap decisions without any facts, details or understanding of the paperwork after it leaves your hand and Flies out? Contractors Expect Good Reports, “You Know One When You See It” But No Clue What Is Needed To Get It There  Frustrated Spouses Call Me because spouses usually get “Seagull Management” from the contractor. The in-house Bookkeeper gets that and “Zap Management.” That is when people learn what to do by doing something wrong and getting "Zapped" by the contractor in the form of an insult or nasty comment and doesn't do much of anything at all. Under both styles, the core problem does not lie with whoever is doing the contractor bookkeeping the source is the Contractor and how the Contractor thinks about their business. How the Contractor reacts at the moment to a crisis? Making dozens or hundreds of decisions (moment by moment activity) every day is part of what being a Contractor is all about. In a way that non-contractors or even their employees do not understand. Embrace it and decisions will come easier.    Is Accounting A Valuable Component Of Your Contracting Company Or Is It An Expense? M.A.P. Vs. P.A.M. M.A.P. = Marketing Accounting Production “Success In Construction Is A Simple Discipline Practiced Every day” - Randalism This Is The Least Popular - and yet the most profitable way to operate a construction company. Contractors are thinking and acting like a business person. P.A.M. = Production Accounting Marketing “Failure In Construction Is A Few Simple Errors Repeated Every Day” - Randalism This Is The Most Popular - and yet the hardest and least profitable way to operate a construction company. Contractors are thinking and doing what they did while working for somebody else instead of thinking and doing what a business person does. Is Construction Accounting a necessary expense for Taxes Only and no value otherwise (many contractors think only in the “cost” as an “expense” and anybody can do the bookkeeping in 10 minutes a day or less? Are good Goods Tools important? ·    Computer, Monitor, Printer, Fax Machine, Scanner? ·    Desk, Chair, Good Lighting, File Cabinet? ·    Pens, Pencils, Paperclips, Paper, File Folders, Reams of Paper? ·    Telephone, Radio? ·    Central Heating And Air Conditioning? ·    Access to Clean Well Stocked Restroom? ·    Accounting Software On Your Desktop Computer, Laptop, Notebook? ·    Backup Cloud Storage, Flash Drive Or Other? ·    Is Payroll being processed using the IRS booklet? I have heard lots and lots of stories about all of these things or should I say lack of those things and more. Modern technology is for more than storing family pictures.   Contractors try to control bookkeeping details How does good Accounting add value to your business?   ·    What is worth to you? ·    What is the value of Your Time? ·    Knowing the Three “O's Financial Reports.” ·    Does It help in Keeping Your Customers Happy? ·    In Keeping Your Vendors and Suppliers happy and paid on time? ·    If know the answers to these questions is important; then having a properly setup Accounting System should be a priority. ·    If Low Price is King, then Shoebox Method and a Manual Bookkeeping System could be the answer. ·    Go to any office supply store and they may still carry the Bookkeeping Booklet with packages of forms. Free Or Low Priced Online Accounting ·    If Super Basic is a Free or Low Priced Online Accounting System is all you need to file taxes there are hundreds of them. ·    Basic Software is where QuickBooks comes into play. ·    QuickBooks can grow and expand as your contracting company grows. ·    QuickBooks is affordable for every business owner. Even Brand New Contractors starting out. ·    It’s most basic function is a checkbook, and from there it is really how much value do you want to from it? Think Transportation. How you got around as a child, pre-teen, teenager, young adult, older adult? ·    Walk Everywhere ·    Get a Skateboard ·    Bicycle ·    Moped ·    Used Car (Remember your 1st car?)   ·    New Car ·    Bigger Car ·    Van ·    SUV ·    Truck ·    Bigger Truck How you use QuickBooks is the same ·    Keep it simple – Check Book, Invoice Program ·    Add a little more to get a few reports, ·    Improve the setup a little more for Financial Statements ·    Better Financial Statements ·    Job Costing Reports Now as you add more detail (think a painting class, starts with a blank canvas) you need to provide data, receipts, invoices, customer payments, customer details. Accounting in its most basic form is “Garage In = Garbage Out” which sounds very tacky. It is unrealistic to expect Spouse, In-House Bookkeeper, or Outside Contractor Accounting Services to be able to provide good, clean, detailed reports without good information from the field, project manager, contractor. Everyone around you cannot guess what job the receipt goes to or why you bought it by looking a receipt. As a contractor, you understand clearly about the proper tools. My favorite tool is a three-pound sledgehammer. Why because it gives me the most leverage to pound the nail in. (of course, I can’t pull a nail out with it) My answer is a 16P nail works for everything. The funny thing is that Randal does not agree.   Randal has a specific framing hammer that was his favorite when he needed one all the time. I’ll bet yours is a very specific make, model of a nail gun if your trade is carpentry related.   My point is that the tools for the office are often the first to be cut, last to be upgraded and usually always considered unnecessary. In a bad economy, everyone makes choices on what is important. What to keep, what to chop. Which tool is the most important to buy? In that case, I will be the first to say tools for the field are the most important. As the budget improves; the business tools need to be added into the mix and move up to the top.   Providing Outsourced Accounting and Bookkeeping Services is one of the ways where we actually help with the budget. If bookkeeping is not your skillset, that is ok. We use QuickBooks; we know where to put the transactions into the software. It is optional for clients to have access to their QuickBooks file. We recommend they have access, but it is not required. If a client wants access to their QuickBooks file; then Intuit requires they own a current copy. If not – We explain where you can save money.    ·    Saving – Do not need to buy QuickBooks PC Version ·    Saving – Do not need to have a new Computer to support QuickBooks ·    Saving – Can Access QuickBooks from your existing PC | MAC | IPad | Tablet ·    Keep QuickBooks up to date with a proper setup for Construction Contractors ·    Keep QuickBooks up to date with the latest Sales Tax Rates (WA State Only) ·    Keep QuickBooks up to date, rebuilding the file on a regular basis. ·    Keep QuickBooks on a server, with a Commercial Host approved by Intuit.   ·    Provide annual financial statements for you to pass on to your Tax Accountant Look forward to chatting with you on “How We Can Help” and is it a good fit for both parties.     I enjoy chatting even when I have to explain that a Contractor’s company to too large to be an Outsourced Accounting Client. We chat and look for ways that are helpful, referrals that may be useful. Thanks to everyone who is finding the “Perfect” accounting solution on our FastEasyAccountingStore.com Thinking Happy Thoughts for everyone as we all dodge, bob and weave around the bad weather. 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_How_Contractors_Want_Better_Results_Without_Changing_Anything

This Podcast Is Episode Number 0204 And It Will Be About Answers To Questions That Keep Contractors Awake At Night   Today's Guest On The Podcast Is From Jeremiah Rizzo Cofounder Of Construct-Ed Jeremiah was interviewed for the Contractors Success M.A.P. Podcast and was very generous with his time and provided some extremely valuable insights for how you can find answers to specific pain points you have in running and growing a fun and profitable construction company. What is Construct-Ed? And why should you care? Construct-Ed is an online learning site where Pros in the industry can go to learn how to grow their business, skills, and knowledge from other experienced Pros. There’s over 185 on-demand, video courses published by real experts in the industry. Why does that matter to you? Because Construct-Ed exists to help you solve your pains, and grow where you need to grow. Like, right now. We’re not CEU focused, or compliance driven training. We’re one place to learn what you need to learn right now, to grow yourself or your business, all from experienced Pros who have been where you are. So whether you have hiring problems, or need to learn SEO to rank better and drive more organic leads, or need to learn more about green residential building in order to expand your services, you can find courses to solve those pains. So you can go there and learn anything from business growth, to estimating and sales, to getting more leads, trade skills, green building, and more. And better yet - you’re learning it all from experts in your industry who speak your language. And another thing… Construct-Ed was founded by a 23+ year veteran of the industry. Chris Jurin (CEO) also runs a commercial roofing company, and a roof infrapsection company and comes from a long line of tradesman. Chris has always been passionate about education (he’s an MBA himself) and helping others grow, so his vision was to provide something to help those in the industry learn better. In case you don’t finish reading the article- I’ll stop right here and tell you two awesome courses you can watch totally free right now: Contractor Leads: Get More Leads Right Now - https://www.construct-ed.com/course/contractor-leads/ SEO for Contractors - https://www.construct-ed.com/course/seo-for-contractors/ How do we differ from competitors? In our podcast interview, Randal rightly pointed out that we’ve got competitors. Online learning isn’t a new phenomenon. There’s YouTube, forums, and a variety of other trades-focused training or learning companies. And hey, we acknowledge there’s a number of people doing some really helpful things for the industry right now in the education space. But here’s a few big differences that set us apart from those companies:      1. Our courses are immediately practical, pain-solving, and from industry Pros. Most companies who do online learning for Construction/Trades are doing safety, and compliance driven stuff. Our courses on the other hand, are to help you grow your business, skills, or knowledge. So you might go to other companies to get CEUs, or take fall safety training - but you come to Construct-Ed when you have a pain that you need to solve, and you want to learn how from an experienced Pro who’s been there and done that, like how to make more profit, or how to reduce turnover, or how to become a better foreman. You’ll find courses with us that you won’t find anywhere else. And for the most part, it’s not us creating this content in-house. It’s education from real Pros, who work day jobs and run companies, who are passionate to share their knowledge.      2. Our instructors (and content) are diverse. We’re not a platform that invites in only select authors or experts. Construct-Ed is open to any Pro, from any Trade, who’s passionate to share their knowledge and help others grow. So you’ll find courses from YouTube personalities, associations like American Institute of Building Design, Expo speakers who teach educational sessions at IBS or Remodeling Deck Expo, to everyday foreman or Pros who want to help others grow.      3. Price. When you buy a course, you own it. And they aren’t expensive. Most courses range from $15-50. Some are free, some are upwards of $70. And when you buy a course, you own it for life. So it’s like a book, you can pick away at it when you want or watch it all in one sitting - then revisit it for a refresher. We’re solving 2 big problems in the industry. First: contractors need better ways to learn from experienced Pros. Don’t get me wrong, forums and YouTube have their place, but we believe there’s a better way for Pros to get actionable, practical help on growing their business, skills, or knowledge from experienced Pros. Construct-Ed makes that easy, by providing one place to connect with some of the industry’s top educators. You can buy a course (or snag a free one), watch it whenever you have time (it remembers where you left off), and anywhere you want - on your phone as you listen on the way to the jobsite, or on your laptop at home. Second: we’re giving Pros who are passionate to teach a way to do that quickly and easily. Say a 20+ year Pro has tons of success and experience growing a remodeling business, and now they want to share how to do that with others. Up until now, they’ve either had to start their own site (lots of money, time, effort, and work to draw an audience in), go to YouTube (good luck making any money without hundreds of thousands of views), or publish on a service not meant for construction. We’re providing a way for those Pros to start teaching courses online, without the cost, time, or management. It’s totally free to publish courses on Construct-Ed, and we’ll handle payment processing, customer support, hosting, and more. You send us the course materials (at minimum, a video or series of videos), we’ll build the course (usually within 48 hours!) and you can start pointing your audience to your online course. If you’re interested in learning more about publishing a course with us, you can visit https://www.construct-ed.com/teach/ or email me at [email protected]. 3 things contractors should consider when it comes to online learning. Now that we’ve been at this a little while, there’s three things I’d encourage contractors to think through… 1- The ROI of learning. In the age of “free”, it gets to a point where people scoff at anything with a dollar amount tied to it. I think this can be especially true when Pros can go to YouTube and watch 5-10 minute videos on “how to fix” just about anything. The difference is that the courses published with us aren’t about how to fix an installation issue in 10 minutes. They’re about how to make more profit, or hire better, or specific green building techniques… things that require an investment of time and money. Don’t get me wrong: maybe we don’t have a course that’s right for you right now. But my challenge would be: if there is a course that would benefit you, learning should provide a return on investment. For example - If you’re a young buck who wants to start out in the landscaping business, it would cost you anywhere from $10 - $70 to learn commercial lawn, mulch, or snow plow estimating from an experienced Pro who will share his formulas with you. You should make that back on your first job! What are the costs if you don’t learn what you need? Well, you could spend hundreds (or thousands) of dollars messing up bids, or getting the wrong equipment, etc. What normally would’ve been a $50 investment that pays you back over time, becomes even more, just because you didn’t want to spend any money on education. So the first thing I’d encourage Pros to think through is the value and ROI that education can provide, rather than just looking for all the free stuff. 2- The importance of investing time to overcoming pains. I think all people are guilty of this in various stages of life: It’s just easier to put our heads down and keep doing what we know, than to stop, evaluate what we’re doing, admit that we have some broken ways we’re doing things, and to take time to fix them. You hear it all the time, but remember that if you only have an hour to cut down a tree, it’s better to spend the first 30 minutes sharpening your axe. But contractors, understandably, often don’t feel they’re able to do that. So I would encourage any Pros reading this to think: is there 30 minutes, an hour, a commute, where you could find some educational content (it may not even be on Construct-Ed!) to learn what you need to learn to fix your pains and grow yourself. There probably is - but it will require some planning and discipline. 3 - The importance of continually growing. I think there are contractors who’d read this and say, “sure, for all the folks struggling with profit or turning over employees, they need to watch a course or learn something to overcome pains. But I’ve been profitable for 30 years!” And that’s great! If that’s you, well done! My encouragement for you would be that you not stop learning. Just because your profitable now, doesn’t mean you always will be. Or, just because you’re really good, doesn’t mean there’s not more you can do to add services that serve your clients better. For example, if you’re a remodeler or builder, what green building services do you offer? If millennials begin to demand more energy efficient, or “no-utility design” homes, will you know how to build them? That’s another way Construct-Ed can help. At the end of the day, we want to help you solve your pains. Our mission is simple: We believe anyone in the trades should be able to learn whatever they need to grow their business, skills, or knowledge, from experienced Pros. We get a few people who have visited the site, see the courses, and think “that would be nice to learn someday, when I get less busy or over ___ problem.” But Construct-Ed is here to help you fix “____ problem” faster. For example, if profit is low and you’re behind in hiring good crew members - get a course on hiring or making profit! Learn from Pros how to fix your problems, so you can move forward in a healthy way, faster. Consider that you can buy the course now, and watch it anytime. If you don’t have time now, no problem. Buy it (preferably with our 50% off offer!) and watch it when you can. You can also have a team member or employee watch it. If you’re too busy, have your project manager watch a course on leading his/her team better.   So, are you a good fit? (Hint: you are). If you’re in construction, or trades, you’re a good fit for Construct-Ed. But seriously, we’re really a resource for everyone in the industry to use - from office staff to laborers. I will say that I think you’re an especially good fit if you’re someone who: 1- is just starting out and wants to learn from older, wiser Pros and avoid future pains. 2- struggling in business, and wanting to learn how to overcome those struggles. 3- needing to learn green building, SEO for your company, or any specialty skills. How about some free, actionable, practical advice you can personally share to help contractors grow? OK. 1. Make sure your website is simple, beautiful, and filled with high quality imagery. If you don’t have a website, or it looks like it was built in 1990, either hire someone awesome (hint… use Contractor Dynamics, they’re awesome at sites and SEO for Pros) or go to Squarespace. For $15 a month, you can use the HD camera in your pocket (your phone) or pay your niece who’s trying to break into photography (you know who I’m talking about) $25 to come take jobsite photos. Throw them into a squarespace template, and you’re done. It’s beautiful, all in one hosting. Millennials WILL judge you on how your site looks. I don’t care if you have 40 years experience, if your site looks like junk - they’ll think you build like junk. 2. Perform (at a minimum!) basic SEO on your site (or have someone do it). Don’t know how? No problem. Construct-Ed has a FREE 4+ hour course walking you through how to do SEO step by step. Click here to watch it now. 3. Install Sumo. It’s free tools to help you grow your site and increase social shares. Take a night and explore how to use it. It’s free, it’s insanely powerful, it works instantaneously. It’s the single best piece of advice I can give for contractors to start online marketing. 4. Watch Contractor Leads course (again, FREE) and learn how Pros have driven more leads. These are real tips, from real Pros, not just some fluff you might read in a blog. It’s the real deal. If you want a bit more info, I talk to Randal about this at the end of the podcast I was invited on, so be sure to listen to that. I think that’s all there is to say on this! If you want to reach out to me directly, you can email me at [email protected] , or visit us at https://www.construct-ed.com/. About The Author:  Jeremiah is a full stack marketer who helped launch and grow Construct-Ed - online learning for Pros, by Pros. He lives outside Philadelphia with his wife, and enjoys the outdoors, craft beer (IPAs!), music, and spending time with friends and loved ones. He's passionate about growth hacking, content marketing, and startups.   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations     For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construct-Ed_Interview_With_Jeremiah_Rizzo

This Podcast Is Episode Number 0203 And It Will Be About Contractors Accounting Chaos Solutions Marketing Headline is Contractor needs Accountant. The Answer is Yes – Every Contractor needs a Construction Accountant. The Question is Why Does the Contractor need an Accountant? Does the Contractor have an Accountant? Does the Contractor have Bookkeeper? Sometimes the Answer Is Yes. No Charge One-Hour Consultation Definition of Free One Hour Consulting from the contractor side is: I am a General Contractor My life and accounting is in Chaos What does it cost to fix it? Will you invoice my clients? Will you pay all my bills? Will you pay all my taxes? Will you pay employees? If you have any data that you can include relating to your list, include that in your introduction, too. I received a call from a prospect a couple of years ago. She asked questions similar to the ones above. When I started to ask questions about her business her immediate response was: “I am asking the Questions – Not answering any of yours! “Information About My Business Is None Of Your %&*#^ Business!” My response was that I could not be of assistance and Hung Up. Unfortunately dealing with an accountant is a lot like going to the Doctor. We are unable to fix yesterday (clean up existing or previous bookkeeping) without knowing a little history. We are unable to determine the proper course going forward without knowing the following:  What do you do? Handyman, General Contractor, Commercial TI Contractor, Remodel Contractor, Specialty Trade Contractor, Home Builder. Each of these answers leads to more questions: Do you do Remodels or New Construction As a Builder is It High-End Remodels, Customs, Spec Building Do you have multiple companies you are running in a single QuickBooks file? Were you formerly a Large Contractor or worked for a Large Contractor used to all of the detail of a High-End Specialty Software and wanted a $300 program to provide the same results? How are currently handling your payroll if you have employees? If no, employees do you plan to have some in the near future? We are in Washington State. It is fairly easy to become a Licensed General Contractor, Specialty Trade Contractor or Home Builder. It starts with determining what type of Business Entity do you want to be and register with the Secretary of State. Sole Prop Partnership LLC S-Corp. The Trick Is Do Everything In The Right Order Knowing It Is “Hurry Up and Wait.” Once your name is registered with the Secretary of State you can get your Federal Tax ID Number from the IRS. Move on to applying for your Master Business License. Then finally the Contractor’s License with State of Washington’s Department of Labor and Industries. Each state is a little different in it’s licensing rules. Some make it easier to become a Handyman and much harder to become a General Contractor. Your state may require State Exams. Each state is a little different in how it deals with sales tax. Some states do not have any sales tax. Others state charge tax on the material (which is paid to the supplier at the time of purchase). Washington State is a sales tax driven state. Every contractor must charge sales tax on all customer invoices unless they have a resales certificate from a General Contractor that the project is wholesale. Builder / Developer who is doing Spec Homes is the owners of the property. As the owner, the Builder / Developer must pay sales tax for all material, labor and to their contractors as they go. Handyman is licensed as General Contractors as they do a little bit of everything. From installing closet rods to the full-scale kitchen and bath remodel or whole house remodels. An additional twist is that Washington State Sales Tax is destination based. We need to keep track of where the sale is located. Every city has their own sales tax code (and individual local rate in addition to the state sales tax based). Luckily, we are able to file a combined return directly to the State for both State and Local sales tax. Depending on the company, the report and payment may be due Monthly, Quarterly, or Annually. Payroll Is A Big Deal As Our Worker’s Comp Is Run By The State Of Washington. For all businesses, Workers Compensation is based on Hours worked, and the rate varies by trade and experience factor. It’s sound simple to say but adds the need for electronic time sheets for all employees including owners. In 2017, we are required to pay Personal Time Off for employees working inside the Seattle City Limits. This includes delivery drivers who on their route make stops inside the Seattle City Limits In 2018, a Washington State Rule is that employers are required to pay Personal Time Off for all employees including Part Time. My Questions Help Me Understand Your Contracting Company. It is easier to do what I call “Playing Within The Lines.” The first Step is figuring where the Road is. What Do You Do? What Size Is Your Business? Do You Have Tools and Equipment? How Many Customers? How Much In Sales? Are you a Bigger Business with lots of Employees? We can talk – I will steer you to a Payroll Service and an In-House Bookkeeper. Do you have multiple companies? We can talk – We may be able to assist with the bookkeeping for some of them We are able to Setup, Cleanup, Enter Missing bookkeeping for most QuickBooks Desktop files Are you a Handyman, Specialty Trade Contractor, General Contractor with Zero to 5-7 employees We can talk – We may be able to assist with the bookkeeping We are able to Setup, Cleanup, Enter Missing bookkeeping for most QuickBooks Desktop files Are you a General Contractor, Custom and Spec Home Builder. We can talk – Accounting for each of these types of contacting is slightly different. Understanding exactly What You Do helps us Determine What Needs To Be Done. We Understand Construction Accounting. We know “What To Do” without additional supervision. Based on what you have “Told Us” we are able to do ongoing Bookkeeping. The issue happens with lack of paperwork, specialty projects where suddenly unseen Partners are involved; it appears to be a Custom Home but instead is a Spec Home or a variety of other factors where the “Bookkeeping Department” is the Last To Know. I have heard stories from owners who are unhappy with their existing In-House bookkeepers. In many cases, the In-House Bookkeeper has tried to do a good job with too little information which did not arrive in a timely fashion. It is impossible to enter into QuickBooks Desktop receipts they do not have and to keep up the checking account without information about customer payments and deposits. Basics For All Accounting Is: Customer Invoices Customer Payments Bank Deposits slips with details of Customer payments Bank Statements Credit Card Statements. Job Costing Is A Joint Effort Between Field And Office The “In House Bookkeepers” are expected to know which job or which the phase of a project (code to an item or Schedule of Values) without any guidance from the Project Managers. A Load of lumber from the Lumber Supplier is material to the Bookkeeper. It is unreasonable to expect an In-House Bookkeeper or us to know by looking at lumber receipts the material was used for Framing, Rough-In, Decking, or Trim for the House, Garage, Shed, Barn, Cabana, Gazebo, or Children’s Playhouse.   QuickBooks Job Costing Reports   These Reports - Can only be found in the Premier Contractors and Accountants editions of QuickBooks. Some of them are also available in the Professional Services edition. We offer Job Costing Report Service click here to learn more   Costs to Complete by Job Summary - Once you enter an estimate for how far along each of your jobs are, this report will summarize the cost to complete each one of them that have active estimates. It also shows you how much you are over or under your estimate.   Costs to Complete by Job Detail - Report drills down to the detailed estimated cost by phase for whatever customer or job you select, and it shows you how you are doing in relation to your estimate.   Job Costs by Vendor and Job Summary - Report lists the job costs you have incurred for each job or project and it is subtotaled by vendor.   Job Costs by Vendor and Detail - Report shows a detailed list of all the job-related costs that you have incurred for each vendor, subtotaled by job.   Job Costs Job and Vendor Summary - Report lists the job-related costs you have incurred for each vendor, subtotaled by job.   Job Costs Job and Vendor Detail - Report shows a detailed list of the job-related costs you have incurred for each vendor, subtotaled by job.   Job Costs Detail - Report lists all the costs you have for each job. This report is useful if you need to separate all material supplier purchases, subcontractors bills, and labor costs for each job.   Unpaid Bills by Job - Report lists the bills you have not yet paid, separated by customers and jobs. It lists only bills with a customer or job associated with it. This report is useful if you wait to pay vendor bills for a specific job until you receive a payment from the customer; Pay-as-Paid.   Unpaid Job Bills by Vendor - Report shows all bills you have not yet paid, sorted by vendor or subcontractor, and lists customer or jobs associated with each line item on the bill.   Expenses Not Assigned to Jobs - Report lists costs that have not been assigned to a customer or job, totaled by vendor. This report helps you find costs that may not have been passed along to your customers.   Job Status - Report lists information for each active customer and job. We Have Several Solutions Available For You  Outsourced Accounting Services.  We do the bookkeeping so you can focus on the parts that only you can do. Meet your customer, create an estimate, close the sale, oversee the work, invoice the customer and collect the money. Only you or your spouse should have direct access to the bank and pay the bills. Call me old fashioned – if you chose your spouse as your “Life Partner” they should be your business partner.  It gets down to a really basic fact. There is too much to do for One Person to do. If your spouse is your business partner (even a tiny percentage) they are a real person in the company and can collect the money, write checks and talk to the government, banks, etc. If something happens to You, The Contractor, the house payment still needs to be made, the shop rent or mortgage payment still needs to be made, the truck or van payment needs to be made. Payroll still happens. Then, your spouse still has the asset you built and can decide to keep, run the business on their own or sell it. In the meantime, your spouse has the authority to do what needs to be done. Most spouses do not want to be active in the business they want to do their part for a better life. We use QuickBooks Desktop Version in a Cloud environment with Commercial Host approved by Intuit Imagine Being Able To Push A Button And Have: 1. The Key Reports You Need: 2. Cash Report anytime YOU want it! 3. Receivables report anytime YOU want it! 4. Payables report anytime YOU want it! 5. Profit & Loss statement anytime YOU want it! 6. Balance Sheet report anytime YOU want it! 7. Job Costing report anytime YOU want it! 8. Estimates Vs. Actuals report anytime YOU want it! 9. Frequently Asked Questions And Answers Click Here The Screenshots Below Were Taken In Our Lynnwood Washington Office  QuickBooks Is 1,000+ Miles Away Running On High-Speed Servers  Tucked Securely In A Building With Armed Guards With Highly Skilled Technicians Maintaining It All QuickBooks Files Are Backed Up Every Night On A Secured Server Access Windows QuickBooks Desktop Version From PC or Mac English Speaking, U.S. Based Technicians Maintain The Server QuickBooks Software Updates Are Automatically Applied We Provide Your QuickBooks Maintenance And Support We recommend everyone have on a Cloud with his or her accounting. All of our Outsourced clients are in the cloud. Their access to the QuickBooks Desktop file is optional depending on their needs. Assisted Do-It-Yourself Accounting We can set up QuickBooks file and return to you We can setup, cleanup existing QuickBooks file and return to you You can choose to stay in our Cloud environment and do your own Bookkeeping. Immediately be on the Server with their Existing QuickBooks Desktop File We recommend Our Customized Setup of QuickBooks File it is not a requirement to be on the server. We are there if you need us; other than maintenance to your QuickBooks file we are not reviewing your QuickBooks data. You must request additional services for us to review your data. Other Do-It-Yourself Accounting Services We understand Construction Accounting and have developed basic QuickBooks Desktop files and Chart of Accounts for the Do-It-Yourself Contractors who feel if they had the basics They could do the following on their own: Do their own bookkeeping going forward With a proper setup – clean up existing file. With missing items added to current setup – continue with their own bookkeeping. With limited Consulting and Training – can continue doing own bookkeeping easier. Please visit our Fast Easy Accounting Store to for additional Self Service Solutions. QuickBooks Setup Files are based on US Version of QuickBooks Desktop. Chart of Accounts and Item lists should work for both our US and International Friends. We have recently added our Free Forms to the Fast Easy Accounting Store. We Help A Little or A Lot Depending On Your Needs  I appreciate your detailed emails about your business. They are very helpful. You can never be Too New or Too Small For Us To Help You can be a weekend warrior to an active contractor. We welcome new Outsourced Accounting Clients. We welcome new Do-It-Yourself Clients. We welcome new Consulting Clients One Hour Free Consultation is available to everyone The idea of digging a “Big Hole” in the backyard and filling it with everything in your contracting company that aggravates you up can be appealing. Not really a practical solution to cleaning and organizing your truck or shop. Equally throwing all you paperwork away isn’t really a practical solution either. Any missed deduction equals more taxes on your Local, State, Federal tax return.  We try to make life easier for our clients, working together – It Works!  Thinking Happy Thoughts for 2017 Looking forward to chatting Sharie DeHart 206-361-3950 [email protected]   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Accounting_Chaos_Solutions

This Podcast Is Episode Number 0202 And It Will Be About How Contractors Maximize Lines Of Credit To Grow Their Businesses  Contractors that want to grow their businesses have only a few funding options. Friends and/or family members offer a low-stress way to secure funding. Taking out a small business loan from the Small Business Administration (SBA) is another viable funding alternative. Of course, banks offer a wide variety of loans to help small businesses raise cash. However, most contractor requests for funding are for the little things that make a business hum, such as more inventory and a new point of sale system. This is when lines of credit offer the best funding source for contractors to grow their businesses. Overview of Credit Lines Small business credit lines provide a sound method for funding the expenses required to start a business. Opening a line of credit represents a common way small businesses purchase inventory and pay off construction costs. Credit lines give contractors access to cash at any time up to the limit imposed on the credit lines. Contractors that have not established a record of fulfilling credit line agreements might have to submit some type of collateral. Banks and other lenders typically check personal credit histories, including your credit score and rating. Five Tips for Opening Credit Lines Contractors can follow one of more tips for securing lines of credit. Some of the tips require patience, as well as strong financial management skills. Automatic Credit Line Increases Contractors that fulfill credit obligations can enjoy automatic credit line increases. Lenders reward customers that follow credit line policies, such as making payments on time and maintaining an active bank account. The easy way to increase a credit line involves waiting for the lender to make an automatic adjustment. Credit card companies conduct regularly scheduled audits of customer accounts to determine which customers qualify for automatic credit line increases. The Sky is Not the Limit Ken Lin, CEO of CreditKarma.com advises small business operators to move slowly in regards to credit line requests. “Most credit card companies will automatically review your credit after about six months or so of card membership. However, if this doesn’t occur, you can call up your issuer to request an increase. Don’t request a limit increase within six months of getting a new card. It could be an instant red flag that could lead to denial." Moreover, make sure to ask for a conservative amount to open a credit line. Whenever you want to increase a credit line, shoot for an increase between 10 and 25 percent. Use Your Credit Card Frequently… …but do not overdo it. By using a credit card frequently and paying back the debt immediately, you demonstrate to a lender that you possess the discipline to handle additional credit. Make small purchases that slowly increase in value to convince your lender that you are ready for more credit. In addition, consistently paying off credit card balances increases your credit score. Use the Best Credit Card You never want to ask for credit card increases for all of your credit cards. Multiple credit line increase requests show up on credit reports. Select the best credit card in your wallet, preferably the one that you use the most often and carries a favorable interest rate. Make one strong case to one credit card company, as opposed to half-hearted efforts to increase credit lines on multiple credit cards. Build a Strong Case No, you do not have to possess the litigation skills demonstrated by Alan Dershowitz. However, you need to do more than simply ask for a credit line increase. Present evidence of your strong credit card payment history, as well as an increase in your income. You also need to communicate with a credit card company why you need an increase in credit. The best reason is you want to grow your business. If you have a less than stellar credit history, you should consider working with a credit repair specialist to put your credit line increase request in a more favorable light. Sky Blue has earned the reputation of disputing up to 15 items on your credit report at the same time. Sky Blue also receives high ratings for dismissing negative credit report items at a faster than average rate. --------------------------------------------------------------------------------------------------- I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,

This Podcast Is Episode Number 0201 And It Is About Contractors Are Confused About Bookkeeping Many of you may begin with the thought; I am just a contractor I don’t want to be in business; I just want to do the work That is what is important. Yes, doing the work is important. Keeping track of your hard costs, soft costs, general expenses and overhead is the difference between making a profit or having a loss. Ignoring the costs do not make them go away; it just avoids putting them on the tax return. Any missed expenses make your profit on the job look higher than it really is and causes you to pay more income taxes because all net profit is taxable. All businesses need to keep track of their company expenses, including the material and much more. Contractors usually go from one extreme (doing nothing) to the other (trying to count every bean, every paperclip, all the nails and, the scraps of 2x4’s). The balance is somewhere in the middle. Labor is the biggest cost you will face. As an owner / operator you're entitled to the same wages your construction company would pay for having another construction worker on the payroll. Otherwise, why not go to work for someone else?   Favorite Option: No Bookkeeping System One checking account which is a mix of business and personal expenses. Multiple credit cards which are a mix of business and personal expenses. No formal invoices to customers. Give verbal amounts to customers to pay; maybe send them an email. Have customer payments made out to you instead of the company. Part of the time deposit the check into the checking account. Most of the time Cash the check; randomly put the money into the bank or Hip National Bank. Ignore the government until forced to respond. Usually throw away all your receipts, deposit slips, bank and credit card statements. Emergency; Toss everything you can find later into a file box (all receipts business or personal). Take the Magic File box unsorted and may not have all statements to the tax accountant. Drop and Run – Tax Accountant’s Problem Now. Messy records mean you will pay a lot more income tax. Next Option: Limited Bookkeeping System Contractors are trying to do their own bookkeeping may start with a pile of receipts and some. One checking account which is a mix of business and personal expenses. Multiple credit cards which are a mix of business and personal expenses. Catch yourself from throwing away all your receipts, deposit slips, bank and credit card statements. When you remember, toss everything you can find into a file box (all receipts business, personal, junk mail) Randomly look for the missing bank and credit card statements and add them to the box.   Create written proposal, send the customer an email in “story form” with an amount to pay. Give verbal amounts to customers to pay. No formal invoices sent to customers. Have customer payments made out you or the company (based on what the customer wants). Usually, deposit customer’s check into the bank, maybe put into the bank or Hip National Bank. Ignore the government until forced to respond. Take the Magic File box unsorted complete with junk mail which may not have all statements to the tax accountant. Drop and Run – Tax Accountant’s Problem Now. Messy records mean you will pay a lot more income tax. This process can go on for years until the Contractor is willing to make a change even a slight one; nothing changes. No one can make a Contractor like to do paperwork. It is not a natural skillset. The question is how to make paperwork easier, simpler, and at least tolerable for the Contractor to do before getting back to the “Fun Stuff” like building something, taking apart something, fixing something. To Explain In A Way, Your Spouse Would Understand Contractor’s Clean House (tear out walls and fill a dumpster)  Rearrange Furniture (remodel and move walls) Buy New Stuff (sheetrock, cabinets, light fixtures, plumbing fixtures and faucets, carpet) Install Stuff (secure to wall, floors, and ceiling so we can’t move them) To Explain In A Way, You Would Understand Wives move rearrange furniture as part of the process to cleaning the floors, baseboards edge to edge. Once the furniture has been moved and cleaned behind; it is easier to leave the furniture in the new location than move it back to the original location. This process is called Spring, Fall, Summer, Winter Cleaning. The contractor just knows his stack of papers got moved. His desk, chair, sofa, remote, dresser, clothes moved, and he is clueless on why. It was all perfect exactly where he left it; now everything is lost. Unlike the Contractors who have laborers to help with the heavy work. Most wives have helpers who   stand under 4’ tall, want a cookie and a cartoon break (often). By the time they are over 5’ tall, they are out with friends anytime there is a hint the vacuum cleaner might be calling their name. On a serious note: Many kids are great helpers learning about the business, are out on the job site, working in the office and helping at home. For Contactors – the number of jobs on the “To Do List” are endless. Third Option: Contractors Bookkeeping Is Easy, Anybody Can Do It! Contractor tries to do it all Contractor works on making his best sale (spouse or girlfriend) Contractor works on his best drop down sale (mother) as a favor Contractor works on having a friend (friends spouse or girlfriend) do bookkeeping as a favor. Contractor has exhausted everyone on the list above and hired a friend of a friend as a 1099 contractor Contractor hires friend who took an accounting class once as 1099 contractor Contractor hires someone who has office experience and is a willing to try to do the bookkeeping Contractor hires someone who did bookkeeping using other software in another field.   Contractor hires someone who used QuickBooks and therefore should be able to do their bookkeeping. Contractor hires a bookkeeper who is willing to make all the decisions, pay all the bills and treat it as if it is their business; implying they are the owner to Customers, Vendors, Suppliers, Other Employees. The Last Option Sounds Like A “Dream Come True” Until It Shifts To The “Nightmare of the Bad Bookkeeper” They train the contractor like an organ grinder trains a monkey, click here to learn more They refuse to invest time and money in continuing education because they know everything They are passive aggressive and will study you and your staff to learn how to manipulate everyone They are masters at gaining power over you, your staff, and new employees and outside suppliers They hate change and will fight tooth and nail to stop it or they will destroy your company They know you're responsible for taxes, fines, penalties and interest; so this is where they get even They know how to increase your quarterly tax return costs, click here to learn more They understand that bookkeeping is 90% repetitive transactions and 10% complex transactions They don't know what to do with complex transactions, so they put them wherever they feel like They have side jobs working for other companies or an entire bookkeeping business on the side They decide how much integrity if any, your company has and they tell everyone who will listen. They create a miserable work environment causing turnover in your staff which costs you money They make your customers and clients feel unwelcome and unappreciated which costs you money They act as if they are serving time in jail and do the minimum required to keep their job They say things to suggest businesses are bad and construction company owners are the worst They are jealous of your success and even more so if they ever had a failed construction business They don't learn anything new, why should they, nobody is reviewing the QuickBooks They never learn anything new unless the company pays for the training and it is on the clock They quit when the tax return is being prepared because QuickBooks is a mess and they're caught They come in a little bit late every morning and leave a little bit early to make up for it they bait you with drama, nasty comments and minor actions to find your tolerance limit They get even with you for every perceived injustice against themselves and society as a whole They keep you busy with lots of mindless crap to divert attention from why the books are a mess They let you think you are in control of the bookkeeping and the bookkeeper until it is too late They make you think they are looking out the best interest of the company, LOL! They let the work expand to fill whatever time you are willing to pay them to get it done When they quit or get fired expect to hear: “Chaos, panic and disorder...my work here is done” They become indispensable in order to take time off whenever they please and hold you, hostage They negotiate for additional perks, benefits, changes, and elimination of personal accountability They network for a better job with your clients, suppliers, vendors and your competitors They represent themselves to outsiders as the owner or manager with decision-making authority They text, message, e-mail, surf the web, chat on the phone and socialize on company time They train you to leave them alone by getting upset or angry whenever you want anything They work hard at causing just enough chaos, so owner does not earn more than the bookkeeper When your business fails they tell everyone, you are incompetent, and they saw it coming They live in a chaotic, neurotic, psychotic, selfish, disorganized, blame game environment They work through lunch to leave earlier in the day (At the office for 7 hours and get paid for 8) What happens when the person in control of QuickBooks is unhappy? The same thing that happens when the cook is unhappy! All Of This Seems Like A “No Brainer” To Contractors Who Have Been In Business For A Long Time Please remember How It Was; when you were in your First Year in business.   Did your find some neighborhoods easier, nicer to get jobs?   Remember That First Job?  Was it profitable?   What was the learning curve about bidding? Contractors Need A Working Knowledge Of Business To Become Successful What is Income? If “Money In” not clearly defined in an Accounting System; then the government agencies will consider all money you received in the bank as “Income.” No big deal; right? “Money Out” is just a few taxes between the City, State, and Federal based on either “Gross Sales or Net Income.” Deposits are from the following sources: Down payment on the job Reimbursement for material Progress payment Refund on material Premium overpayment Overpayment of taxes Loan from bank or friend Personal Loan from You Tracking Receipts: All material and overhead receipts need to go into an Accounting Software Please Note, One Giant Single Entry for multiple receipts is not proper accounting.  It is quick, and it does match the payment from the bank to the credit card company. A true example of “Garbage In = Garbage Out” As the Contractor; it is understandable to take short cuts and get the job done. Hiring an In-house bookkeeper or accountant; not really any good excuse.   Same goes for expecting someone who knows nothing about bookkeeping to get it right. You are overpaying for the task at hand; because in the future, you are paying to someone to “Do It Over.”   Tax Accountants are too busy to chase after you and nag for missing deductions.   In your zeal to have good job costing reports “Do Not Overdo It.” There is a balance between making paper airplanes and flying your receipts near the Magic Box and trying to get so detailed in your bookkeeping system that it becomes this overwhelming task. It is unreasonable to expect your Office Manager / Bookkeeper to enter in each material receipt into the Accounting Software line by line. (Coded to perfection without any direction from you) What should a Contractor use in QuickBooks? Looking at the Home Page in QuickBooks some contractors feel they must use every part of QuickBooks to be sure they get their Money’s Worth. Think Picture Puzzle – and the small child starts out with a 25 piece puzzle and moves up to larger puzzles with more pieces.  They do not start out with a 2000 piece puzzle.   What you need in QuickBooks depends on What You Do and How You Do It The object is to pick the basic parts of the Software and make it work well for your company.   QuickBooks is designed for the most basic user with limited accounting skills. (Use as a checkbook) QuickBooks is set up with an Easy Step Interview designed to help contractors get a feel of the Software.   If you are only going to use it as an Electronic Checkbook then maybe a very basic setup is all you need. For proper job costing you will need a little bit more than the basics QuickBooks is designed for Customized Setups to be able to function well from someone doing Professional Services, Handyman, Trade Contractors, General Contractors, Commercial TI Contractors, Custom Home and Spec Home Builders and Developers. At Fast Easy Accounting We Welcome: Brand New Contractors Established Contractors Home Builders Commercial Tenant Improvement Contractors Remodel Contractors Trade Contractors Weekend Warrior Contractors Handyman Contractors Restarting Contractors Contractors that tried the No Bookkeeping Option Contractors that tried the Basic Bookkeeping Option Contractors that tried the Bookkeeping Is Easy Option, and Anybody Can Do it. Sometimes what looks “Good On Paper” doesn’t always work in the “Real World.” Do You Just Need “A Little or A Lot of Help?” There are No Right or Wrong Solutions, only what works best for you and your situation. Do-It-Yourself Contractors But Not By Yourself Click here to visit our Contractors Assisted Do-It-Yourself QuickBooks Setup Store Digital Products on FastEasyAccountingStore.com are available worldwide More Digital Products and Professional Services are regularly added  Do you want something you don’t see? Send in a request for it to be added What Can Fast Easy Accounting Do For Contractors? Contractors Bookkeeping And Construction Accounting Services New Company or Fresh Start - We setup your new QuickBooks File Existing Company - We set up, clean up your QuickBooks File Return file to you for your In-house Bookkeeping solution Discuss the possibility of Outsourced Accounting One Hour Free Consultation Short Answer – Yes, We Can Help Keep In Touch Sharie   I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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 In Conclusion: Helping Contractors around the world is one of the reasons we added the FastEasyAccountingStore.com Follow our blogs, listen to Contractor Success M.A.P. Podcast. We Appreciate Our Visitors, Listeners, and Subscribers. – Thank You!! Please feel free to download all the Free Forms and Resources that you find useful for your business.   We are here to Help “A Little or A Lot” depending on your needs. About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating the Podcast  www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This Is One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Enjoy your day.     Sharie About The Author: https://www.fasteasyaccounting.com/free-one-hour-consultation-bookkeeping 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 [email protected] Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Are_Confused_About_Bookkeeping

This Podcast Is Episode Number 0200 And It Will Be About The Definitive Guide to Online Marketing for Contractors  Today's Guest Article Is From Joseph Hughes Founder Of Contractor Dynamics Joseph Hughes was interviewed for the Contractors Success M.A.P. Podcast and was very generous with his time and provided some extremely valuable insights for how you can market your Contracting Company. The article below is a recap of some of the precious gems he shared on the podcast. As a construction company owner or manager, you’ve undoubtedly faced some frustration with marketing your business effectively. Maybe you’ve invested in marketing and web services, but haven’t gotten the results that you expected or were promised. Or perhaps you are so overwhelmed with the amount of information out there, often conflicting, that you haven’t decided what you want to do yet. Trust me, feel the pain. I spent over a decade in the construction industry prior to starting Contractor Dynamics. Word of mouth is great, personal referrals can be the best source of new business, but we all know that there is a huge opportunity to leverage the web to grow, or even sustain, our businesses. But you’re a contractor, not a marketing guru. You’re already wearing too many hats and working too many hours. How are you supposed to make sense of all the options available to you, know whom to trust, and develop a marketing plan that’s actually going to get you results? I’m going to walk through a very simple outline that will help you better understand the different types of online marketing available to you as a construction business owner. But first, a quick background… Why Should I Listen To You? After growing up in the construction industry, I founded Contractor Dynamics in 2013 to help builders, contractors, and related professionals grow their businesses strategically by leveraging the web. Our team has a passion for helping contractors navigate the tricky world of online marketing and use the web as a tool to transform their businesses. Contractor Dynamics understands that best-in-class construction companies lack the time, expertise, or interest to stay on top of trends in the fast-changing world of online marketing and market their business in ways that ensure long term growth. Because we have been working exclusively with contractors for years, we have developed powerful and proven solutions to deliver more leads and more customers to our clients. We work with clients worldwide who understand the importance of investing in their businesses to differentiate, generate more inquiries, and to win more quality business. Contractor Dynamics stands out from other web and marketing solutions because: We work only with contractors. We deliver results and detailed reports monthly. We have no long-term contracts; instead, we believe in earning our clients’ business every month. Although we offer a full range of marketing options, our core services include website design & development and organic online marketing (SEO). Contractor Dynamics publishes weekly guides on the best practices for marketing a construction company, and we have been featured on Houzz, Yahoo Finance, Huffington Post, Small Business Trends, and Equipment World, among other construction industry publications. 3 Online Marketing Strategies for Contractors Explained If you’re like most builders and contractors I know, you’re always looking for ways of generating more business – more projects, more customers, more sales, more growth. We all know there is not shortage of options to help you market and sell better. There’s online marketing, offline marketing, in-person marketing and sales, automated marketing, and dozens of other avenues for you to pursue. But, lacking reliable information about your options, you get overwhelmed and either don’t do anything or try a couple random things to see if anything sticks, right? In most cases where contractors are trying to grow their businesses, there’s not much of a cohesive strategy. It’s more of a spray-and-pray scenario or the shotgun approach to marketing. And in most cases, marketing without a foundation of knowledge and a strategy just doesn’t work. Sure there are exceptions, but generally the companies who dedicate themselves and their resources to developing a strategy and sticking to it are the ones who are able to get the next level. By the end of this guide, you should have a good idea of whether online marketing is appropriate for your business and whether it’s something you want to invest your time, energy, and money into. To start, I want to provide some context to marketing and include some recommendations that will help you gain an understanding of not only marketing, but your business as a whole. Lead Gen Doesn’t Exist in a Vacuum Any type of marketing or lead gen should be a part of your overall business plan and strategy. Too many construction companies try random marketing tactics and strategies in an attempt to quickly generate leads. But that seldom works. Lead gen works best when it’s one part of your strategy, not the entire strategy. More on that below. You Can’t Completely Outsource the Growth of Your Business Look, I get it. I know you’re busy running your business – managing projects, managing employees and crews, ordering materials, compiling bids, and dozens of other things. You wish you could hire someone to just grow your business while you focus on the day-to-day. But that’s not possible. Well it is if you hire a full-time employee who knows what they’re doing, or you hire an contractor marketing agency for $10,000 a month. But, even then, you’re going to need to be involved at least somewhat in marketing and growing your business, if it’s something that’s important to you. Marketing Is an Investment I don’t just say this because I run a construction marketing agency. It’s true in any area of business and life. If you want to be fit and healthy, you go to the gym. If you want to make dramatic changes in your business, you’re going to have to invest time, energy, and money, and more likely a blend of all three. If you‘re smart and you have time, you can do this yourself. Most contractors I know are pretty darn smart, but they lack the time or interest to do it themselves. I like to use the analogy of a homeowner trying to sell her own home (For Sale By Owner). Sure, it’s possible, and if you do it well, you can save the 4-6% broker commission. But when you hire a broker to sell your home, you’re hiring them to market it well and ideally get a higher price for it than you would have gotten yourself. You hire them because that’s what they do for a living and, at the end of the day, your net gain will probably be higher selling with a broker than selling by owner. Know Your Numbers This is crucial if you are looking to grow your business. Knowing your numbers helps you make long term decisions, not short term decisions. Where is your business now? Where do you want it to be? How many projects per month or quarter do you do now? What is the target number? How much is each one of those projects worth to you? At what rate do you convert leads into clients? How many leads do you actually need? This is one of the first things we go over on our initial phone consultations with prospective clients and we recommend the exercise to anyone. Attract, Convert, Deliver These are the three pillars of any service based business. You need to ATTRACT qualified prospects to your business, you need to be able to CONVERT a percentage of those prospects into clients or customers, and have to DELIVER a quality service consistently. Lead generation only covers the Attract part. You still need to have systems in place for Converting and Delivering. If you don’t have these systems sorted, all the leads in the world aren’t going to help you. You can’t dump leads into a business that isn’t set up to handle them properly. This is also why quite a few contractors I speak with don’t really need help with lead gen. They need more help with Converting and Delivering on the leads they’re already getting. Again, lead gen doesn’t exist in a vacuum. It’s one piece of the pie. Three Online Marketing Strategies for Contractors Now that we’ve established those smart business tenets, let’s get into some nuts and bolts. These are not the only three avenues available to you – there are dozens more things you can do online and offline to generate new business. These are the three most popular online marketing strategies for construction companies and related professionals. We’re going to lay out what you need to do these things properly so you can make more educated decisions. Social Media Marketing for Contractors Yes, it works. But not overnight. It takes time to build up a following and engage with your local market. It’s difficult to measure the Return on Investment (ROI) because social media marketing is not really a straight lead gen strategy. Social media marketing will bring your business, but not directly or immediately. You must be consistent with it, as with everything else. It’s much more than just posting your latest projects and blog posts. You need to engage with people and other businesses to build a following. There are tools like Hootsuite that allow you to schedule your posts, but at the end of the day, this does little to engage with your market, unless you already have a strong social media presence. Social media is increasingly important for SEO. In one of our recent podcast episodes, we talk about why this is the case. Basically, Google and other search engines are now assessing your overall web presence, not just your website. It’s very difficult to completely outsource this. As we wrote about recently in our Facebook Guide for Contractors, the best social media marketing is when it’s personal, real-time, and engaging. We usually recommend you do it in house, as there tends to be a disconnect when outsourcing it to someone outside your company. If you don’t have the capability to do it in house, you’re probably wasting your money if you’re paying some large national company $149/month to do it for you. Sure, they’ll come up with content (that they’re also using for hundreds of other contractors) and post daily to your feeds, but what is that really doing for you? If you need to outsource it, plan to spend $500-1,000 per month to get it done right. Pay Per Click (PPC) / AdWords for Builders and Contractors A widely popular one, mostly because the big national agencies pitch it like Kool-Aid to small business owners. But it’s seldom done right. Here’s why. PPC is an ongoing strategy, not a set-it-and-forget-it type of thing. A proper PPC campaign has dozens or hundreds of different ad variations and is being managed by someone or a company who is constantly testing new ads, discarding ones that don’t work, and tweaking the dials to improve results on a monthly basis. Most contractors who invest in PPC drive traffic to bad websites. Ideally, you should have targeted landing pages to drive your paid traffic to. Your website must be set up in a way to convert the site visitors into actual leads for your business. Driving traffic to a bad website is a waste of money. Unless you have no competition, spending $10/day isn’t going to work. Because you’re essentially bidding on digital real estate, you need to spend enough so that your ads get placed in prominent positions (on top, not on the right side). To do so, you ideally want to start in the $1,000-2,000 range for monthly ad spend. On top of that, you should be paying someone who knows what they’re doing to manage your campaign. Typical fees are 10% of monthly ad spend, with a minimum of $750/month for a good agency. Search Engine Optimization (SEO) for Construction Companies Yes, I know – you’ve been burned in the past. Maybe even more than once. That leaves a bad taste in your mouth when you read those three letters – SEO. I even try to avoid using that term because it immediately raises peoples’ defenses. Here’s the scoop – it does work, but it’s not for everyone. Doing it right takes a LOT of work and is expensive. And again, I’m not just saying this because my team and I make a living from it. Do your homework. Ask any reputable SEO agency that is willing to show you current and past client results and they’ll tell you – SEO is a grind. 90% of SEO is done horribly wrong. But there are many unscrupulous SEO companies out there making money by ripping people off because it’s an easy sell – get your website to the top of Google and your phone will ring off the hook. But that’s far from the truth. Plus, it’s not easy getting your website to the top of search engine results. Most contractors who are paying for SEO don’t have a website that’s set up properly. Your actual website and the content on your website are the drivers for all of your SEO efforts. There are certain things that need to be in place on your site in order for you to see any sort of success with it. We do SEO audits for contractors every day and we use a 24-point checklist to go through their site. In rare cases do we see a site that is set up well for SEO. Websites aren’t set up properly because most contractors are only paying a few hundred bucks a month. And that’s just simply not enough to get results. As is the case with PPC, you need to have your site in order before you attempt to drive traffic to it. SEO includes lots of on-site work and a lot of content. Content is the driver for your optimization efforts. If your current SEO agency isn’t adding quality content to your site on a monthly basis, you’re spinning your wheels. To see lasting results from SEO, you’re going to need to spend a minimum of $1,000 – $1,500 per month. Yes, there are thousands of companies out there charging much less, and some of them may even work well. But I’d be skeptical of most of them. SEO is not for every business. Again, the numbers must work out for you. If you’re an electrician with a small crew and your average project is $300, you’re probably not going to see an ROI from spending $1,500/month on SEO or PPC. If you’re a remodeling contractor, however, and your average project is $25,000, then it becomes more legible how you can see a 5-10X ROI on your monthly investment. We actually decline as many contractors as we propose service to, simply because most contractors either aren’t ready for SEO or their business doesn’t have a high likelihood of seeing a return on their dollars invested. Three Construction Marketing Strategies – Wrapping It Up While skeptics may think I wrote this article to try to get you to spend more on marketing, my only goal is to educate you about the options available to you when it comes to generating new business. I’m being sincere when I say that it frustrates me to no end when I talk with contractors who spend their hard-earned time and money on marketing tactics and agencies that just don’t know what they’re doing. I’m not saying Contractor Dynamics has all the answers – because we don’t. As of the writing of this article, we only specialize in two things – Custom Websites and SEO – because we want to do what we do really well, rather than try to do many things halfway good. Online marketing is not as easy as it once was. Even as recently as three years ago, it was relatively easy to game the system – put up a simple website with a phone number on it, build a bunch of low-quality links to it, and you’re golden. Google has been tightening their screws and raising the bar every quarter for the past few years – that’s what you do with $40 Billion in cash. Thus, getting exposure online takes more time and effort than ever. And that’s one reason it’s not for everyone. There are dozens of ways to generate new business. If social media, PPC, and SEO aren’t for you, perhaps there are other avenues that can help you get to the next level. But if you do want to make an honest effort at generating new business online, my top two recommendations are: have a strategy and have a budget (of time, money, and commitment). Once you have those two foundational pieces in place, the sky’s the limit. How Can We Help? If you’re looking for help with this stuff – whether this makes sense to you and you think you’re ready to get started, or if I just confused the heck out of you – HERE are the ways we may be able to help you. Editors Note: Thank You, Joseph Hughes. It was a pleasure having you on The Contractors Success M.A.P. Podcast. Perhaps we can convince you to join us again in the future for another one. Warm Regards, Randal DeHart  --------------------------------------------------------------------------------------- I trust this podcast helps you understand that outsourcing your contractor's bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open   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                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_The_Definitive_Guide_to_Online_Marketing_for_Contractors

This Podcast Is Episode Number 0199 And It Will Be About Contractors Are Self Motivated To Be Successful A person makes the decision to become a contractor. It’s easy. Now you are the boss; no one to tell you what to do, how to do it when to do it. Yes – It’s easy.  It’s Morning, Are you ready? In Washington State being a contractor is fee-based. If you are not choosing one of the mechanical trades, there are usually no addition tests or licensing. Each state has different rules. Some states have a General Contactor’s test that confirms you have the most basic construction skills. Others states start most contractors out under a Handyman License.     What are some of the things you thought about being when you grew up and out on your own? From a small child, preschooler, then from grade school kid to the teenager to the adult.   I suspect you and your friends you never played contractor and customer; and yet life happened. Most people pick up a few “Handy Skills” from living in a house, condo or apartment. Simple common things that need to be fixed starting with hanging pictures on the wall (now it is the TV) Add the surround sound, link your equipment together. Buy furniture, table and chairs, end tables, bed, take it out of the box and ASSEMBLE. The word ASSEMBLE is in almost every box. Add shelves, installing cabinets, changing light fixtures. Again, the word ASSEMBLE.  Go to the garage and add a few tools to work on the truck. Get a lawn mower, edger, wheelbarrow, and suddenly you have grown your “Do-It-Yourself Skills.” It actually happened over time, one task at a time.   Whether it happened because of most things the landlord took too long to come; it wasn’t part of what the landlord did (move, assemble furniture), or you own your first home, current home, and you are “oops” The Owner.   If you want something done you that cannot do – You need to call a Contractor, Landscaper, Pest Control. So the range of skills you have continues to increase. You may find all things mechanical easy.   My Father would tell stories about how as a small child I would help him work on cars. Dad said, I got quite good at changing out carburetors (I don’t remember any of this). But it might explain how I can hear “funny noises” that never seems to happen when I take the car to the mechanic. I guess he taught me by “ear” to hear when the car was out of tune. Maybe too, it would explain why I would rather shop for good quality Truck Tires than spend time at a Makeup Counter.   Now, my brother he became a mechanic. He is the Happiest when he is under the hood of a car. Could I have become a mechanic? Yes, Probably. Would Randal have supported it? Yes, he would have then and now. I just never thought about it as an Opportunity. The Opportunity of being a Contractor is a gift. It doesn’t matter if you are a One Man Band – Doing all of the work or have a larger business with Subcontractors and / or Employees.     There are many paths that lead a person to become a contractor Trainee, skilled employee trusted employee, management, co-owner, owner Embracing the Opportunity to buy an existing business from someone else Embracing the Opportunity to be part owner of an existing business Embracing the Opportunity to start a business from scratch   The Why you became a Contractor is as varied as the number of the contractors that exist. Parent is or was a contractor, and you became a contractor as a matter of tradition or by default Career Changer who is thinking about career paths chosen and wants to do something different An employee in another industry and Lost Your Job and needed to do “something.” Many Contractors started out as being an employee for someone else.  There is no risk as an employee and a guaranteed paycheck.  Usually, more reasonable hours as employees can go home based on time served.   Every contractor with employees embraces any motivated, conscious employees. Embracing the Opportunity to be part of business as a member of management team Embracing the Opportunity to be part of business as a skilled, trusted employee Willing to complete the needed tasks without watching the clock every minute More money is only a short-term motivator. It will not motivate long term an employee with itchy feet, a bad attitude or poor skills. They will hide on the job, try to get fired, quit, skip on child support and have a variety of reasons to why they are doing poorly on the job before leaving. Early To Bed, Early To Rise, Know Your Numbers And Advertise! As the Contractor you have to be self-motivated to: Get out of bed Start Your Day Do what it takes to bring in the call Answer the call Find the customer Bid the job Win the job Get the material Coordinate the labor Get the job done Get paid There is no one to tell you: What to do How to do It When to do it External Forces try to be helpful by the combination of Nurture, Nudge, Nag. And only if you embrace it in the spirit which Nurture, Nudge, Nag are intended is it helpful (To Benefit You and Your Company) Too much of any of one those three things then the dynamics change. Hard Feeling happen, and everyone involved becomes frustrated and unhappy. Spouses want to be helpful, but after being zapped – they stop.  The Contractor gets zapped – and productive stuff stops.          An outside person (Bookkeeping Service) can ask for the same receipts, invoices, etc. as a spouse but it comes across differently. It’s because the “Personal Stuff” is not there. One of my earlier blogs I talked about “Tooth Paste Caps” and how the “Personal Stuff” carries over into the business and the “Business Stuff” carries back over into your personal life.   It is hard to turn off the business when you walk through the front door. As a small business owner – you are hardly ever “Off The Clock.” Enjoy The Moments. You have to have Self-Motivation to be successful. The Self-Motivation may come from family and the desire to provide for your family. After all, who can turn down the adorable eyes of your spouse, little kids, puppies, kittens and the fun stuff you love to do. I am not a cat person, yet at the office, I buy cat food in the 25# bag for the group of neighborhood cats who visit all day long on our covered deck.  They have expectations, provide drama when they are not met; but they cannot actually motivate me to buy cat food, set out water, and upgrade their cushions. I control what I do, when and if I do it. That does not stop the cats from banging on the door and singing loudly to get attention when they feel they are being ignored.   No one loves to do all the tasks that need to be done. Even if they did – The To Do List is never ending for a small business owner. The work is easier and more fun when you know you have the proper help with Processes, Systems, Software and the right people in place to do the things that others can do.   You as the Contractor (Business Owner) should delegate tasks, not abdicate responsibility. Keep control of your finances. There are simple Cash Management 101 tips that most people do not think about: Use Processes to be efficient on your daily tasks Use Systems to keep your business on track Use Software to manage to account Add Professionals As Needed We would like to be one of the Professionals in your busy, business life. Yes – We Can Help so you can do the parts of the business only you can do. Look forward to chatting Enjoy Your Day   Every Day Sharie I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now, and if you have listened to this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast One more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | The Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Are_Self_Motivated_To_Be_Successful

This Podcast Is Episode Number 0198 And It Will Be About Contractors Ready Start Go Happy New Year New Year’s Day is the day to make New Year’s Resolutions and a start fresh. It is a reset button for every Contractor business on January 1st of every year. The previous tax year ends on December 31st. Final expenses for December will be coming in by email or US Mail. What is New? What is The Plan? What is Next Target? Did you meet Last Years Goals? What is Different From Last Year? Is there anything you Plan On Changing? Did You Take The Polar Challenge? “Polar Challenge” has a whole new meaning when someone says “Go Jump In The Lake”.  Many look at the Polar Challenge as a way to cleanse the body and have a fresh start to the New Year. Others yet just want to do something fun and wacky with their friends. New Year’s Resolutions I have ever seen have been was all about doing More of This and Less of That To Have More Things or To Reduce The Stuff You Already Have A To Do List and A I’m Going To Stop Doing That Plan to lose weight – Eat Less, Exercise More Go On Vacation or Have A Stay Vacation Make More Money – Cut Expenses Buy Something or Sell Something Dream of Winning The Lottery Plan Something Special Enjoy Your Day Enjoy Life New Year’s Resolutions - Did You Make A List?  Keep It Simple. When making your New Year’s resolutions write them down. Even in the most general terms with a few details. Start with a few notes, outline or a brief memo. Resolutions should not be so detailed and complex that it becomes a chore you before you even get started. If you make it a Chore then it will never get done. A project with too much detail becomes tedious, makes you frustrated, irritated and never gets done. Maybe the New Year’s Resolution is the following: Be, Do, Have. Be Kind Do The Work Have Peace of Mind Choose your own goals on what and how much details your New Year’s Resolutions should be. If you want to write a full-blown Business Plan For Your Contracting Comany; put it on the list. For a very detailed oriented person; writing a business plan will easily become a complex report with graphs and charts. For others, it is a big step to create New Year’s Resolution of more than three things. New Year’s Resolutions do not have to be big, long, or complex. Your mind will think about your goals, fill in the blanks, guide you on the next thing to do. Answer the call Being available to [fill in the blank] Committing the time needed Doing the job or task Effortless seeing the next step Finding the solution to long and short term problems Going Forward and choosing the best option and not second guess it. Happy to be alive I chat with Contractors every day. They tell me their stories. About their challenges in running a business, keeping up with the bookwork (accounting and bookkeeping). About estimating and bidding jobs, doing the work and collections from clients. Having or not having employees. Paying their taxes. To help you – I have written your New Years Resolution for you. Sharie’s New Year’s Resolution For Contractors I want Gross Sales of [fill in the blank] for the year I want a newer Truck and Equipment for my business I want to have nicer customers and to be nicer to those who are not nice to me I want to have this much money [Fill In The Blank] to spend on a Family Vacation I want my spouse to work at an Outside Job only if she wants to [not because she has to] I want my family to be healthy and happy throughout the year I want Peace of Mind and to have Less Stress In My Life I want The Gift of More Time Time To Do The Things In My Life That I Want To Do Time To Be With The People To Whom I Want To Do Those Things Time To Do Nothing At All but Think and Enjoy the Peace and Quiet That Surrounds Me Resolutions Are Personal - Do you post them somewhere or put them away? For most of us, starting small and being successful is more positive than “Huge Ironclad Goals” that become a Daily Chore that deep down you know is unreachable. Make Doing and Thinking about your Resolutions a moment of happiness. Your Life constantly changes. Sometimes it is a Walk, Sprint, A Quick Jog and for some, every day is A Marathon. Life Happens. If you can separate out the Goals from The Wish List (Win The Lottery) then it is much easier to be happy. Yes, Buy a Lottery Ticket – You might win. The object is that you do not become obsessed with Winning The Lottery that you Must Buy a Lottery Ticket to every game every week. Keep It Simple. Think Sports; Bask in Success of Win. Think about the Loss; then move on to Next. There is never a shortage of Next. Then Continue and Repeat. Shampoo sales increased when Marketing added “Repeat” to the bottle. Don’t spend a ton of time on What Did Not Happen and getting depressed.  Your time is the most valuable commodity that you have. Think, Make a Decision, Move On. Sometimes what didn’t happen is a good thing. Several “Oldies But Goodies” Country Songs come to mind. (About Yes, No, Staying or Moving On – key word is movement) What can you Repeat to make 2017 a better year for you in Your Business Life and Your Personal Life? Remember Bigger is not necessarily Better. Enjoy your day – Everyday.   I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives!   I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting.  Need Help Now? Call Sharie 206-361-3950 [email protected]   Thank you very much, and I hope you understand we do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                                                                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Ready_Start_Go_Happy_New_Year

This Podcast Is Episode Number 0197 And It Will Be About Contractors Last Minute Payroll Deadline For 2016 Happy New Year 2017!   It’s almost the end of the year and time to decide if your employees deserve a Bonus. You may call it a Generic Employee Bonus, Christmas Bonus, Holiday Bonus or Year End Bonus Giving An Employee Bonus Comes Down To Cash Flow Here Are Some Key Questions To Ask Yourself: Can I afford to give a bonus? Can I afford to give a Bonus to my employees? Do I want to give a Bonus to each of my employees? How do I decide how much Bonus should I give? Reality Check - Is Bonus Taxable? Starting with the last question first. In most cases, it may be taxable. All forms of Income including Bonus is income to your employee. All income is subject to State, Federal Payroll Taxes and is part of the employee’s W-2.   The most common are to give your employee a set amount known as a ‘Net Check”. It would not quite seem the same to say here is your bonus for $200.00 but the actual check received is for $169.04. Your employee is going to think you are tacky, cheap and you can afford to give them a Big Bonus.   Instead, what you give the employee is a check for $200.00 and the company pays all the payroll taxes. The value of the bonus is a lot higher when a check is grossed up (meaning you the employer pays all the taxes, company half, employee half of Social Security, Medicare, Federal Withholding, State, Local Taxes) Review all the outstanding Employee Advances When an Employee Advance is given, are the employees automatically setup on a repayment plan? Or, in your mind, the Money is a Payroll Advance with a loose payment plan. You are expecting to sit down and work out something more defined later. Later is 5 Minutes before you give them the check.     Did your employee think the money was a non-taxed bonus? Did your employee think Non-taxable reimbursement because (fill in the blank)?    Did your employee think was a Gift because (fill in the blank)?   Did your employee think it is a net payroll check? If your employee leaves, quits or gets fired, they usually expect their employee advance is paid in full. Either as a gift or was actually, all unpaid Employee Advances were net payroll checks. Usually, employees think all Payroll Advances as Net Payroll checks if they are planning to collect Unemployment.   As payroll, the amount of the check will increase their projected State Unemployment Benefits. Thinking of all my own clients over the years and with my clients with payroll; it has been by exception that the former employee will send money to cover an outstanding payment plan.   Without a written payment plan signed by the employee, Washington State does not allow the employer to withhold the remaining balance out of the employee’s final payroll check.   Sometimes an employee starts out as a 1099 Contactor. It can be a shock when converting a 1099 Contactor to a W-2 Employee for both the employee and the employer. Everyone is used to no taxes being taken out.      IRS Rule is anyone receiving over $600 or more for the calendar year needs to receive 1099 form 1099 Contractor need to meet the rules of being an Independent Contactor (Trade Contractor or General Contractor) otherwise they can be classified as an employee with back payroll taxes due.   Some states it is more common for Contactors to have mostly 1099 Contractors over formal W-2 Employees. All 1099 Contactors including your Trade Contractors and General Contractors need to be providing you with a W-9.  https://www.irs.gov/pub/irs-pdf/fw9.pdf  In 2016 IRS expanded list of those who receive 1099’s to include Attorneys.   Quick Note: Merchant Service Providers, Online Merchant Service Providers are required to provide 1099’s to their clients.     IRS intends to levy increased penalties in 2017 for 1099 Non-File or Late Filers   IRS requires that 1099 be sent to the Independent Contractor and to the IRS.  IRS has shorted the deadlines for 1099’s; they are now due on January 31, 2017, same as the employee’s W-2.     Reminder About Your Payroll – You have been putting it off and putting it off. It’s now time to make a decision.  It is easy as a Sole Prop or a Member of an LLC treated as a Sole Proprietor No Payroll or W2 required. The rule is that all your Net Profit and Draws are subject to Payroll Tax.   Do not forget that as S-Corp Officers you must have a payroll with a W-2. You are an employee of the corporation and therefore required to have payroll. It does not have to be dollar for dollar on the amount in your Loan To Shareholder account, but it must be a reasonable wage. Your Tax Accountant can help determine “What Is Reasonable.” Starting Off The New Year If you contracting company is a Sole Proprietor you may want to consider changing your legal status to S-Corp starting January 1, 2017 If your contracting company is an LLC, you may want to consider filing the IRS Form 2553 to be taxed as an S-Corp or change to an S-Corp. Year End Review – Time flies when everyone is busy   Start Now - Review your records for the following items: Missing Federal Tax ID’s and request the W-9. Have all your employees verify their pay stub for the correct address. Check Apartment numbers and zip codes. Have any of the neighborhoods been annexed into the city? Other changes is the IRS Form I-9 was revised November 14, 2016, for new employees. The new form will be mandatory to use in January 2017.  Year End Accounting Clean Up Your Tax Accountant will be sending your booklet with what they want for records.   As you are looking to the New Year? What are the loose odds and ends missing for this year? Do you have a formal Accounting System? Does it need to be cleanup up the Accounting beyond the last couple of months?   Do you have bank statements?   Can you find all your receipts? Tax Accountants do “work arounds” to be able to file your annual taxes.  At some point, the Tax Accountant may refuse to clean up and deal with the Lack of Good Records or Messy Records. As the economy improves; tax accountants will have more clients who want their taxes done.   It all gets down to Time | Scope | Money A good tax accountant can do Many Simple or Less Complicated Returns in the same amount of time it takes to do a Messy Complex Business Return.  More Tax Returns become more Complex than is really necessary because the documents or lack of documents make it Messy and Hard To Deal With.   Your Reason To Turn It All Over To The Tax Accountant It’s cheaper to have the Tax Accountant do it than hire a Bookkeeping Service and I don’t want to do it myself because it’s Hard.   Yes - The Tax Accountant can and maybe will do a workaround that is just enough to do the taxes. If you are missing 5%, 10%, 15% or even more; the tax accountant is going to use what you provided, and it will be by exception, your tax accountant will ask for missing documents or even notice they are missing. Tax accountant will assume you gave them everything you had. When in reality you gave The Tax Accountant only what You thought The Tax Accountant needed versus all of the records that might save you additional money in taxes.   Only you can decide if the lack of good records was worth the low price. A good accounting system will help you make Better Decisions on what to buy when to buy and which type of jobs to accept?  When you afford to accept payment plans from your clients?  When is the need or ability to raise your prices! Happy New Year – 2017 is just around the corner - Are you Ready? Click Here For A Timeless Article About Year- End Closing Tips For QuickBooks I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Own Bookkeeping... Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Last_Minute_Payroll_Deadline_For_2016

This Podcast Is Episode Number 0196 And It Will Be About Merry Christmas From One Contractor To Another Merry Christmas from One Contractor To Another Merry Christmas to all.  Everyone celebrates the Holiday Season in his or her own way. Even the “Bah Hum Bug” people get pleasure out of their “Bah Hum Bug”ness.  Enjoy, Embrace, Be Glad, Be Joyful and maybe a Little Sad. (No one is up and happy a 100% of the time)  Do something nice for others. A smile is easy; it’s always with you, and it’s FREE. It can be a simple thing.  Perfect Example. Last weekend a young man waited specifically to open the door at the Post Office.  Did he have to? No.  Did I need the door opened? No.  Were my arms full of packages? No. But he turned and waited patiently for me to cross the parking lot so he could open the door.  Why? That act of kindness was important to him.   Why? My reaction was to thank him politely. And I smiled in appreciation.  My reaction could have been different, nasty, snarky; but it wasn’t    Getting my door opened happens to me often throughout the year not just at the Post Office.  Where Men of all ages (young or older) will specifically wait, or hurry to open the door for me before I get there. A couple of years ago a man said as he opened the door (at the Post Office) because he was compelled to wait and open the door for me.  It was nice, but again not really necessary.  Do I have an invisible sign that says “Open The Door” for her because she will appreciate it?       The only cost for anyone is a little time and a little effort.  I will never recognize any of these men if I saw them again.  They do it so effortlessly that I am sure they never remember the faces of the people they open the door for.  (I say, People, because I suspect their character is such that they automatically open doors for everyone they meet)  Another easy act of kindness is to Drive Carefully.  Use turn signals, leave space between you and the next car, letting the impatient driver cut in front of you. If you can see them; you can react.  Another act of kindness is to Watch Out For Pedestrians who cross in the middle of the block.  Pedestrians will cross the street after dark while wearing dark clothes even when the crosswalk is nearby. The jogger with lots of reflective gear may look a little funny in the daylight; but they are safer because we can see them on a dark, rainy night. We are in Seattle are so we get lots of dark, rainy afternoons, evenings and nights.      Courtesy to Others Who Work while we are shopping, looking at all of the Holiday Lights then come in from the cold to the restaurant or coffee shop. Being friendly is nice. Being loud, obnoxious and messy is fun for the people doing it; not so fun for the staff and other patrons or customers around them.  Several articles have been written this year about the increasing number of people who make reservations at multiple locations then never show and never cancel.  Then we wonder why that restaurant has fewer and fewer staff. Why we are asked to wait when we see lots of empty tables. Restaurants are trying to treat the reservation as “real” and not overbook.  This trend about reservations is happening more and more for traditional holidays. An example of two is Valentine’s Day and Mother’s Day. As Christmas and New Year’s Eve and New Year’s Day approaches I can see where this is a time of both dread and joy for owners and their staff. Choices need to be made: How Many Staff should be working?  What Special Items should be served?  How Much Food to prepare?  How Much Variety?  Stay Open Late?  Merry Christmas and Best Wishes Of Joy This Holiday Season.  For Me each year The Holiday Season Begins January 1st and Ends December 31st Treating everyone a little nicer will make the challenges of the day go easier.  I try to find something to be happy and grateful each day. Big Things, Little Things, Simple Things, Sunshine, Rain, Snow. And Yes, last week we had our one day of Snow. It is a year of Lots of Snow in the mountains. I have grateful for the ski resorts to have enough snow for a good, hopefully, profitable season; and even more grateful the snow is not all in my front yard. I invite you all to join me in the Celebration of the Holiday Season, of Living Well and being Happy. Again Merry Christmas To All     I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   For Contractors Who Prefer To Do Your Own Bookkeeping... Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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                                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Merry_Christmas_from_One_Contractor_To_Another

This Podcast Is Episode Number 0195 And It Will Be About Assisted Do-It-Yourself Construction Accounting   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 they all run into the same problem 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 Or Keep Reading And Find Out Why 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 Contractors has 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.   #1 If You Did QuickBooks EZ Step Interview You Have A Size Problem! The Chart of Accounts In The EZ Step Interview Is Designed To Sell QuickBooks, Not For You To Use QuickBooks The EZ Step Interview For Contractors Chart Of Accounts Has 33 Accounts, And It Does Not Have: 1.    Fixed Asset Accounts to track Vehicles, Tools, Equipment and Accumulated Depreciation. 2.    Other Asset Accounts to track Security Deposits, Notes Receivable, and Retention. 3.    Credit Card Accounts to track Purchases, Payments, and outstanding balances. 4.    Other Current Liabilities Accounts to record Loans, and Customer Job Deposits. 5.    Long Term Liabilities Accounts to track Vehicle / Equipment Loans, Back Taxes, Lines of Credit. 6.    Equity Accounts to track your Net Worth and Owners Time On Jobs for Job Costing purposes. 7.    Income Accounts to track Sales, Change Orders, Reimbursed Costs, Overhead & Profit, Markup, Refunds, Mileage, Consulting, Discounts, and more. 8.    Cost of Goods Sold Accounts to track Direct and Indirect Costs, Labor, Material, Other Costs, Subcontractors, Disposal Fees, Fuel, Vehicle Repairs, Small Tools, Depreciation and more. 9.    Expense Accounts to track Marketing, Technology, Travel and Entertainment, Shop Rent, Personal Development Seminars, Books, DVD, Online Training, and many more expenses. 10.    Other Income Accounts to track money that comes into your business but not directly related to the type of Contracting work you do. For example Gain on Sale of Assets, Trade Discounts, Fee Income, Bonus From Customer, Scrap Metal, Interest Income, and Rebates. 11.    Other Expense Accounts to track money that goes out of your Contracting Company but not directly related to the type of work you do. For Example Loss on Sale of Assets, Credit Card Interest, Loan Interest, Penalties, Late Fees, and more. #2 If Your Tax Accountant Setup QuickBooks, You Have A Tax Problem! Tax Accountants Are Wonderful People With One Purpose; Prepare And File Your Annual Income Tax Returns. Tax Accountants Typically set up QuickBooks Chart of Accounts to map directly into their tax software which makes it easy to download from the bank which can destroy a Contractor's Company because nothing ends up in QuickBooks where it is supposed too and causes Contractors to make bad decisions based upon bad Financial and Job Costing Report. Tax Accountants Can kill more cash flow and profit in your construction company in less than an hour using a messed up QuickBooks file to prepare your construction company annual tax return than you can make up for in sales and hard work six months, if not six years. Saving you money on your tax bill is not what they are paid to do; they are paid to fill out tax returns. This is not a bad thing; it is just business 101, people and companies do what they are paid to do. Tax Accountants do not understand construction because that is not what they are not paid to do. Helping you save money on your tax bill is not what they paid to do; they get paid to fill out as many tax returns as possible in the shortest amount of time during the harvest season between January 1 and April 15th. Tax Accountants are good people and have their place; however, the should never be doing anything with regular accounting or worse yet contractors bookkeeping and accounting. Construction Accountants are good people too and should never be preparing annual tax returns because nobody can serve two masters. Either be a tax accountant and serve the interests and desires of tax collection agencies or be a construction accountant who understands the difference between Construction Accounting and Regular Accounting and serves contractors like you. #3 They Attended A How To Setup QuickBooks Class Or Seminar There is an old adage "Those who can't do teach." In some cases this is true; however, some of the best instructors I have ever had came from a Project Management, Math and Science backgrounds. Unfortunately when it comes to accounting most skilled accountants can earn up to 5X more than their counterparts who teach accounting. There is a massive difference between what happens in a textbook or handout and the real world. The biggest problem is most classes and seminars teach regular accounting because Regular Accounting is roughly 80% of all accounting. Construction Accounting is roughly 15% and manufacturing accounting at roughly 5%. Again instructors go where the demand is highest. Construction Accounting is not the same as Regular Accounting All Accounting Uses The Same Accounting Equation Assets = Liabilities + Equity     Business Owners - Need three basic reports, Cash, Profit and Equity Cash On Hand................(Bank Balance - Un-cleared Checks) = Cash Profit And Loss Report.........................(Sales - Expenses) = Profit Balance Sheet Report..........................(Assets - Liabilities) = Equity Regular Accounting - Is roughly 80% of all accounting and Accounting for businesses in the world. Its main purpose is to provide basic financial reports for annual tax returns and some very rudimentary management decisions: #1 Accounts Receivable #2 Accounts Payable #3 Profit & Loss #4 Balance Sheet It Is Practically All that is taught in schools, colleges, and universities. Regular Accounting Is Used In Fixed Environments - Where customers come to the place of business or at most you ship or deliver a packaged product. In essence, you are selling a product or a service from a fixed location. Regular Accounting Has These Things In Common: #1 Sales - With 1-4 categories #2 Cost of Goods Sold - If they sell products with 1-4 categories #3 Expenses - Overhead required to maintain business operations #4 Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. It is easy to run reports to determine which items are profitable and unprofitable and make adjustments quickly as needed. Construction Accounting Is Used In Mobile Environments - Which means having a contractors bookkeeping services system that can track the costs that contractors incur related to doing custom work in a strict mobile environment. Some of the costs include travel time, mobilization (packing the tools, equipment, labor and material at their warehouse, delivering everything to the job and unpacking it) before starting the work and then demobilization (reversing the entire process when the job is finished). Construction Accounting Is Built Upon Regular Accounting and shares the same basic financial reports for operating and growing a business and preparing annual tax returns and some very rudimentary management decisions. Construction accounting adds many complex layers of reporting mechanisms to show the contractor where their best customer are within psychographic and geographic market segmentation boundaries. Some Of The Reports Successful Contractors Use to operate and grow their construction companies and know which jobs to pursue and which ones to let go: #1 Accounts Receivable #2 Accounts Payable #3 Profit & Loss #4 Balance Sheet #5 Cash Balance #6 Job Costing Reports #7 Job Profitability Reports #8 Earned Value Reports #9 Work-In-Process Reports #10 Estimates Vs. Actuals Reports #12 Payment Applications Construction Accounting Vs. Regular Accounting     Construction Accounting Is Used - When the entire place of business is packed up and taken it to the customer. In essence, you are selling, assembling, delivering and installing a customized product from a mobile shop on location. Think of it like shooting a movie on location without all the glamor, resources and money to go with it. Construction Accounting Has These Things In Common: #1 Sales - With 1-10 categories #2 Cost of Goods Sold - Has Direct and Indirect Job Costs with 25 - 200 categories with 1,000s of subcategories #3 Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting #4 Breakeven - Very difficult to calculate because most projects are one-of-a-kind custom jobs. Proactive contractors have systems and cost libraries with pre-priced assemblies for bidding which works in conjunction with Strategic Construction Accounting to provide management with progress invoicing, job costing and job profitability. #5 Job Costing and Job Profitability Reporting - Is similar to the Company Profit and Loss report except that it is specific to each particular job and has different expense codes. These reports in combination with the Five Key Performance Indicators are what help the contractor understand which projects to pursue and which ones to ignore. They form the foundation of a Business Process Improvement Plan and Construction Business Strategy. Shown Below are A Short List Of Titles commonly used for construction accounting and regular accounting. The list is intentionally short in order to make the point without being completely overwhelming. Construction Accounting Titles = 233 Regular Accounting Titles = 115   I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Assisted_Do-It-Yourself_Construction_Accounting

This Podcast Is Episode Number 0194 And It Will Be About How To Find Your Ideal Customer Profile As A Contractor Today's Guest Article Is From Hannah West Representing Modernize.Com When it comes to branding your contracting business, you probably have a checklist that includes a logo, a website, print advertising, and customer outreach. But these essential efforts are in vain if you don’t deeply consider the audience you’re attempting to reach. Customer profiles are the perfect tool for understanding the people who will seek your services and what they want from you as a contractor. Home Improvement Leads offers advice for fleshing out those profiles in order to market your business more effectively.   Think about What You Offer Before you can know your customers, you have to know yourself. Consider your services and your mission. What sets you apart from other contracting companies? Do you offer eco-friendly construction and renovation services? Do you specialize in luxury homes? Do you work primarily on residential properties, commercial, or both? Do you go out of your way to train each employee in excellent customer service? Do you give a percentage of profits to charity? Know your goals and strengths, but be flexible as you research out to potential customers. After all, the business is about meeting their needs. Survey Your Audience If you’ve already started building a customer base, reach out to those current customers. Ask for honest feedback regarding your services. Perform a survey and ask direct questions, giving them the opportunity to elaborate as opposed to giving strict yes or no answers. Ask questions such as: ●    What made you choose our company over others? ●    On which social platforms are you active? ●    Would you say that you use those platforms to find services? ●    How often do you seek home renovation services? ●    What do you do for a living? ●    Was it easy to find information about our company and get in contact with us? ●    What do we do that other contracting companies don’t do? ●    When it comes to receiving information, do you prefer email, mail, or phone calls? Once you know more about what your ideal customer is looking for and how they find it, you can start building a more in-depth customer persona.   Building Ideal Customer Profiles Well-executed client profiles help you relate to your customers and internalize who they are as well as their goals. But before you go deep, use the information customers have offered to flesh out some basic background info for the profiles including age, gender, income, field of work, and whether the person resides in a suburban, urban, or rural area. Build onto that by including the reasons they might seek out your services, how often they have reason to seek out your services, and what obstacles may stand in their path. Each profile should be broad enough to represent a whole segment of your customers, but specific enough to be helpful when creating marketing strategies. For instance, you may have a persona of a 30-something woman who makes most of the design and decor decisions for her home, wants to improve her home’s value and aesthetic, and uses Pinterest to find inspiration. You may have another persona representing a 50-something male-skewing demographic who strictly gets recommendations for contractors from trusted friends and colleagues and only seeks out services for needed repairs. Give your personas names and faces to humanize them. These are the people you want to reach out to, and they can help you figure out how to do it right. All you need to do is listen. Call out the most important elements of the visual. Include “Tweet this!” links that mention key points and vital takeaways from your visual. About The Author: Hanna West   Hannah West writes professionally with the goal of empowering homeowners with the expert guidance and educational tools they need to take on big home projects with confidence. In addition to her focus on home improvement, she has a young adult novel, Kingdom of Ash and Briars, debuting in fall 2016 --------------------------------------------------------------------------------------------------I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Episode_0194_How_To_Find_Your_Ideal_Customer_Profile_As_A_Contrac

This Podcast Is Episode Number 0193 And It Will Be About Leveraging Credit Increases Your Contracting Company Cash Flow Accepting Credit Cards Can Immediately Increase Sales And Profits* Contractors Accepting Credit Cards Make More Money *We do not provide merchant services. We suggest you start by contacting you bank and doing your own research. I know from many years while we were contractors it paid off handsomely so I am simply passing on a mere "scrap of information" to help you get more cashflow and profit. Unplanned Emergencies - Are stressful now add "how am I going to pay for this" to the mix and the anxiety increases exponentially! For most people cash in short supply which leaves using a credit card, getting a bank loan or selling something to raise cash as their best options? For Example - Homeowner with leaking roof is going to get it fixed right away because rain water is damaging the interior of their home including some irreplaceable sentimental treasures including items passed down from parents and grandparents. Who Will They Call? - You I hope! If you are their contractor and you are actively working and the contractor they like and trust. Accepting All Credit Cards - Makes you the hero because they get instant financing and your Electronic Armored Car takes your money to the bank. "Everybody wins, your client gets roof fixed, they earn airline miles and other perks and you made a sale which you could have easily lost to a competitor that accepts credit cards. Add On Sales - Will more than make up for any fees you pay to accept credit cards. Prove it to yourself by asking twenty contractors that accept credit cards why they do and then ask twenty that don't and make up your own mind. In our past construction businesses when we accepted credit cards the profits increased over 100% and if I told you how much I guarantee you would not believe it! Create additional cash flow by accepting credit cards. Why? Everyone uses credit cards. When was the last time you wrote a paper check? When you go to the Grocery Store, Drug Store, Office Supply Store, Post Office, Gas Station or your Favorite Restaurant; do you use your checkbook or your debit or credit card? How often do you use an Electronic check when paying your bills? Do you even have a book of checks for your checking account? Many of us would say “No” – why do I need a checkbook when I have the routing number, and checking number, or I pay all my bills using Online Bill Pay. Not a problem, I setup automatic payments. I don’t write checks because [fill in the blank with your answer]. It is the Holiday Season, time for Skiing, next is Spring Break, then it is Summer Vacation full of fun, shopping, eating and travel. Are you going to write a check, pay by debit or credit card? More and more places decline to accept checks especially if you are from Out Of Town. I want those reward points. Credit Cards are here – Every year I write fewer paper checks than I did the year before. I also know to make the system work effectively there has to be a seller and a buyer.   Where would you be if you were out of town doing something special and everywhere you went you were told: “We Don’t Accept Credit Cards”? Oh, maybe you carry lots of cash – Just in case. Perfect!           Comcast sent out a postcard expecting an increase in the use of credit cards in 2017. Comcast was suggesting business need a faster internet connection to deal with the increased Online Traffic. If their information is true, then maybe the banks will be offering credit to more people and raising the credit limits for their existing customers. This suggests the economy may be improving.     As a Contractor, don’t you want some of that new business? Some contractors feel that taking credit cards costs too much, that there is not enough margin to still make a profit. For years’ studies, have shown that a Client who uses their credit card they will spend more money. Some American Express users will only purchase using their American Express. Short Answer: Taking credit cards has the potential of Plus Dollars that will increase your Cash Flow to do the things you want. (Buying something new, paying off something old, saving for future purchases) Do you want to be deselecting your customers based on payment method? Do you want to spend ALL THAT MONEY on Marketing only to say No Don’t Choose Me because I refuse to accept your credit card payment? By searching the various processors, you find a process that will be a process at a reasonable rate. Depending on the processor there maybe monthly statement fees. Many invoice programs have a Merchant Services add-on. Apply for it.   How much would you pay an outside sales person?   What is it worth to get a customer?   What is your marketing budget?   Isn’t Merchant Fees marketing?    Why I accept credit cards? The most obvious one. It’s Convenient. You are across town, in a nearby city or located in another state. Relying on the mail to promptly deliver mail is one of the reasons that everyone uses their email (even if a paper letter follows) Even faxes are now more in the form of junk faxes more that any really important documents (except to your tax accountant at tax time). That was not the case 15 or 20 years ago (oops – showing my age) Of course if you are local and come into the office I have a terminal and can swipe your chip-enabled card otherwise I use a virtual terminal.      Yes, I accept Visa, MasterCard, American Express, Discover Card AND Paypal. Yes, It is a higher rate when it is a personal designer rewards card.   Yes, It is a higher rate when it is a Business Credit Card No, I am not going to ask you to pick the credit card that will have the cheapest processing rate.   Unless the card is swiped and a PIN number entered it is treated as a Credit Card. You may have noticed other merchants who treat Credit and Debit Cards all the time. The rate on a Debit card is at the same rate as the Credit Card, but the Store Owner never has to be concerned about employees seeing the PIN number.   Terminals are a great way to go. Years ago, our terminal was wireless for onsite visits and connected to cell phone towers and worked on all platforms. This is the type of terminals you will see at Trade Shows, Home Shows, and Conventions. Wireless Terminals will work when individual cell phone coverage may be spotty.  As “Stuffy Accountants” we not a crazy using the cell phone as a terminal. Cell Phones are too easily stolen.   An alternative to a traditional payment processor is Paypal.   Almost everyone has a personal Paypal account. As a consumer – apply for the Paypal credit. Typically, the credit line is not as large the credit line with the bank. No harm if you never want to use it. It is there if you need it and if you buy using Paypal, it is easy to pay with Paypal credit instead of one your other credit cards.        PayPal Credit has Special Offers emailed to everyone who has a Paypal Credit Account.   Every business should accept Paypal to use when you want to; no fees when you do not want to use it.     One of the features is that Paypal offers it the ability to send electronic invoices to your clients.   Clients then can follow the link and pay. No chasing, to meet the client and receive payment. Works especially well for the Job Deposit or the final payment on a job. Fees only apply when you process.    Even if you do not intend to accept credit cards on a regular basis, it is a good idea to setup a business Paypal account. It will ready for when that One Client says YES if they can use their credit card. Paypal is there if you need it. Ignore it when you don’t. There are no Monthly Statement Fees.     Of course, your client has to be willing to pay you for your services because they have to follow the link and submit payment.  Will the client pay this way – In many cases the answer is Yes. Why, because it is easy for them; to take less than 5 minutes and pay then trying to connect up with you to give you a check. Your clients have busy lives and may not be comfortable leaving a check under the mat.   As a Contractor, you can now offer to finance.   Paypal currently offers a Paypal Credit with a special offer of 6 Months Same As Cash on purchases over $99.00 from Qualified Merchants. (No, you are not waiting 6 months to get paid)   As a Contactor accepting Paypal; ask Paypal support to enable this feature on your account. Then if your client is paying by Paypal, this open will populate as a payment method. If Clients does not have Paypal credit, it will give them an opportunity to apply.    Think about all the projects that you can do that are around $2000.00.   Are they Quick and Easy, and Profitable to do? Would they lead to bigger jobs in the future?   Would they increase your Cash Flow? Contractors - Anyone remembers having a relationship with your local finance company. A packet of forms needed to be filled out, sent into initial approval, even more forms to be filled out at the end of the job. Then you had to wait for the check and make a special trip to pick it up for the finance company.  The key word is WAIT, get signatures and WAIT some more. This type of financing is for larger amounts and is still available (though harder to find). Usually available to finance Windows or Heat Pumps.     Leverage Your Credit:   Apply for a credit card at a Traditional Bank or Credit Card company.   Apply for a Credit Card with Lowes and Home Depot.   Open a 30-Day account at your local Lumber Yard or Supply House.   Take advance of better pricing by using a couple primary suppliers. They will treat you well.   The advantage of using 30 Day Accounts is able to effortlessly assign a Job Name to your material receipts. All Construction Suppliers have a place for a Purchase Order (PO). You do not have to have an elaborate naming convention for jobs or issuing POs. Use your Customer’s Name and Address. This information will translate over to the priced invoice and then can easily be added to QuickBooks    Beware Of Easy Credit When It Seems Too Good To Be True – It Might Be!   Many merchant services have a division that offers easy financing. This type of financing usually is “Factoring Your Accounts Receivable.” We do not recommend you do this.   These lenders appear to offer an easy approval, but then it is difficult to get the loans paid off.  A few NonTraditional Lenders have the payback terms similar to Pay Day Loans. If there is No Cash Flow; another loan needs be gotten to make the mandatory payments. Sometimes talking to your vendors is a better solution.       I could say more on the subject of credit or the lack thereof. Call me, and we can talk more.   I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You!   Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Leveraging_Credit_Increases_Your_Contracting_Company_Cash_Flow

This Podcast Is Episode Number 0191 And It Will Be About Special Thank You To All Contractors This Thanksgiving Holiday The time flies between each of the holidays. It is a time to reflect on the years so far and catch up.    The magical time of year begins with Halloween, Thanksgiving, Christmas then finally New Year’s Eve. Halloween is a time to see Happy Children out trick or treating. Randal and I go to the local Mall, sit at the Food Court and watch babies, toddlers, and bigger kids enjoy the night of Trick or Treating. Fantastic to see parents dressed up and having as much fun as the kids.   Thanksgiving is when we give Thanks for being an American.   Taking a moment to think back to the challenges for the Pilgrims coming to America. They decided to make the journey with no guarantee of success. To build homes, plant crops, take care of animals. Then later everyone who decided to move West by wagon train, horse or on foot. I am Grateful For Them! I think about my Grandparents, my Great Grandparents (and Randal’s). What was life like when they were children? Where did they come from and how did they get to where they were?   The family’s oral history seems so inadequate. My father shared so much, but now it seems like so little. Be glad for the simple things we take for granted. Going to the grocery store, deli, restaurant for dinner.  Living indoors with electricity and indoor plumbing, a car to drive, a bridge to cross the water or a ferry. Modern Times. I am all for living in the city with the gas station and grocery store just down the street.  Appreciate reliable electricity with Tree Contractors trimming powerlines year around to help prevent outages. Grateful for the Lineman who repair power lines when there is a storm, so we have electricity. Thank You Contractors for going so I can stay home safe.     Thank you to the road crews, police, fireman, lineman, tree crews, plumbers and electricians who go out when the news says “Stay Home” and to all the other Contractors and Emergency Services I have not mentioned. Christmas is the time of Good Cheer. Seeing Lights and smiling children dressed up for pictures with Santa at the nearest shopping mall. Faith that as the year ends; that the New Year will be a better happier, more peaceful time.   Everyone who goes to Times Square and other places around the country and the world to wish in the New Year. The countdown to the New Year is a joy for everyone who participates.  It is ringing in the New Year, New Beginning, New Hope and for some the time to make a Fresh Start.   Contractors Make Our Lives Better Contractors build and maintain the things that make our lives better. They build the factories for the factory workers to work in. The Rancher and Farmer whom you don’t think about being a contractor. The Rancher and Farmer build and repair buildings, fences and maintain the equipment.  Learn to be a Jack of All Trades, raise crops and animals and battle the elements.  Heat, Wind, Rain, Snow and Forest Fires, or Grass Fires – they see it first. The more remote their location, the more diverse the skills.     Why are they so special to me? My Grandfathers – One of Each, One Rancher, and One Farmer. In the city – Most of us only see a piece of their lives at The Fair in the comfort of a well-lit, heated barn with animals behind fences or gates. The Rodeo is entertainment where the Cowboy show off the skills learned in “real life” with real life consequences. At the Farmers Market, we tend not to think about what it takes to grow the food we eat. Especially not a lot of thought when looking at prepackaged meat in tidy rows in the grocery store.   Safe driving this Thanksgiving Weekend. It’s about friends and family. The ones we are celebrating with, those to whom we are not; and finally to those who are with us in spirit only. Most of us (no matter what our age is) watch the Charlie Brown specials with fond memories. Best Wishes To All. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Need_Bookkeeping_Beyond_Get_Me_By                                                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Special_Thank_You_To_All_Contractors_This_Thanksgiving_Holiday

This Podcast Is Episode Number 0191 And It Will Be About Contractors Need Bookkeeping Beyond Get-Me-By Picking A Get Me By Contractor’s Bookkeeping Solution in many cases is using an Excel Spreadsheet and a shoebox, file folders all dumped into a file box and looking at the Online Banking once in a while. This accounting method is the “I still got money so I must be okay.” When You Are Using Today’s Job Deposit To Pay For the material, labor and subcontractors from the last job. It is also known as “Rob Peter To Pay Paul” Cash flow is never a problem until the sales stop; then it doesn’t matter if it is the economy (you customers get laid off), domino effect (their customer didn’t pay them) or you are unable to work due to being hurt on the job or get sick (flu or a more serious illness).    Problems Arise When You Want To Do Any One Of The Following: Get a Line of Credit at the bank to expand or buy equipment Attempt to get a commercial lease for equipment Setup a 30 Day account at a major supplier Buy a new vehicle for personal or for the company Buy a new house or Refinance existing home Answer questions on Liability Insurance Audit During The Insurance Audit The insurance company may want copies of quarterly and monthly tax reports. The Low Premium is based on “low sales” and “low payroll”; at audit time it is the adjustment in the “Actual” Premium. If all the numbers are equal or less, there is not usually a credit. To verify income Insurance Company is going to want to see copies of State Revenue Reports and any payroll reports.   State Agencies May Want To Do An Audit On Your Business Some states suggest you get a “Voluntary Review.” Depending on the auditor this may go smoothly. In other cases, it can turn into a full-blown audit. The audit can have a date range of several years, not just the current or previous year. In addition to Quarterly Tax Returns, you, the contractor can be asked to provide the Check Register, Customer Invoices, Employee Timecards and Paystubs, plus the State Revenue and State and Federal Payroll reports. In other words; they want everything to cross check what you told one agency over another. State agencies are looking at your customer and vendor list to add to their list of companies to go after next. Banks Want Detailed And Summary Financial Statements Bank wants current and year to date financial statements, and previous year’s tax Federal Tax Returns. The loan officer will in most cases ask for the application and financials be provided even when they know that the bank is not lending to anyone for whatever you are asking for. (Example: Working Capital). See Unique Construction Company Financing Secrets Revealed.     The Application Process Can Be Many Pages Long And they can feel very intrusive. Before you invest time and energy - Verify The Bank Is Lending To Contractors. Then ask is the Bank Lending For Working Capital, Vehicles, Equipment or Whatever you need the loan for. What is the debt to income ratio’s and more? Don’t Be Afraid To Ask: What is the bank looking for to be able to say YES! Tax Accountant Uses your “Get Me By Documents.” When your Construction Company is small, you may find a tax accountant willing to take your “Get Me By Documents” and do a work around to file your taxes. Don’t expect them to do that Year, After Year, After Year when suddenly you have grown to make over $100,000 in sales and above. They have the reasonable expectation that you are getting it together and if you don’t then the burden of finding all of your deductions is not on others. Every missed receipt may be a business deduction that is missed and causing you the Contractor to pay more taxes than necessary.   Get You By Contractor’s Bookkeeping Can Be Easily Solved We have clients who are Brand New Companies that are Weekend Warriors, Handyman, Trade Contractors and General Contractors. In this economy, many seasoned contractors had larger companies and are now starting over. The staff that used to be there and the specialty software to run their business is gone. QuickBooks Desktop is a good program to meet the needs of Contactors We Recommend QuickBooks Desktop In The Cloud as the program that works. It’s like getting a ¾ Ton Pickup with a full-size bed – You know it will work to put a rack on, go to the lumber yard for  4’ x 8’ sheets of plywood, tow a trailer to go to the dump and many other things. Many contractors use what they have, to begin with, but then need to upgrade. An Accounting System can be the same way. The “Get Me By” method isn’t the solution once you move from the world of seeing if being a contractor is what you to want to do and changing your mindset to doing it a “real contractor” and having a real business.    State Governments Are Always Looking To Increase Taxes We are located in Washington State. Currently, Washington State does not have a State Income Tax. What we do have is a Destination-based Sales Tax with special rules for Contractors to follow. It is a really big deal to determine What is Income, When is it income and Where is the customer located. A properly setup QuickBooks file with all of the State of Washington destination codes (city, county) makes that process much easier. Other states have their own rules about sales tax if it is required. There Are Many Reasons To Have Good Accounting. For the contractor the most common questions are:   Am I Making Any Money? Did this Job Make Any Money? How Much Should I Be Charging? Should I Add Employees? Can I Budget A Big Purchase? Can I Take A Vacation? Can I Afford For My Spouse To Quit or Reduce Hours? Is Being In Business Worth It?  I Would Like To Say “It’s Always Worth It” To Be A Contractor – But Sometimes It’s Not. If you hate to meet people, talk on the phone, estimate jobs, do the work, maybe have employees. Then it is possible that being in business for yourself is not one of your life goals and you did it because you had to not because you wanted to. If this is the case: Be a Career Changer and Do Something Else.     One Of The Things Is To Figure Out “What Do I Like To Do?” Determine it you are good at then see if you can Outsource the parts that are not working. For most Contactors, the Bookkeeping falls into the “Icky” part of owning a business. It seems never-ending and tedious; if this is you. We Can Help! With the weight of the “Icky” stuff off you may find that being a contractor is “Fun Again.” I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractors_Need_Bookkeeping_Beyond_Get_Me_By

This Podcast Is Episode Number 0190 And It Will Be About Contractor CFOs Struggle To Achieve Valuable QuickBooks Reports Contractor CFO’s are in a constant struggle between having all of the documents needed for data entry and providing the tools for the Office Manager | Bookkeeper need to do the job. Owners want answers to the following questions Am I making any money? Where am I making any money? Why isn’t there a report that at the push of the button gives me all the answers? When Your Company Was New, The Answers Were Not As Important As They Are Now The CFO wants to provide the answers; goes to the Office Manager | Bookkeeper and asks why don’t we know the answers to these questions. Depending on the answers received whether the CFO goes away happy or just goes away. If the CFO is happy then goes back to the Owner and gives the explanation as to why the reports are accurate (based on information in QuickBooks) If the CFO may realize there is a problem and discusses with the Office Manager | Bookkeeper on changes needed to improve the reports presented to the owner. If the CFO realizes that the bottleneck in good reports is with the incoming documents; then the answer is going back to the Project Manager or other Field Staff to make changes. “Garbage In = Garbage Out.” The Office Manager | Bookkeeper cannot provide reports when the incoming receipts are not coded to a specific job or time cards are sloppy and excess time is spent trying to figure out when and where the field staff spent their time. It is very frustrating to try and read scribbled time cards or guessing. Newer phones have a schedule feature, so most employees always know to the minute how many hours have been worked in any given time period. It is only the Office Manager | Bookkeeper who is in the dark. A Good CFO Has To Make The Business Case That Better Equipment Will Save Time And Money Good equipment for the Office Manager | Bookkeeper will help make their job easier and more productive. An example is a newer computer, with large dual or triple monitors, dedicated scanner and a printer with built-in memory. Most Televisions can act as computer monitors. Larger screen saves on eye strain and headaches which makes staff more productive which makes you money and increases cash flow. Software should include the current version of QuickBooks, Adobe Software, Microsoft Office, Cloud-based CRM and Cloud based Construction Time Cards For Smart Phones. Payroll is a project that needs to be done accurately and can take hours to complete. We recommend T-Sheets for time cards; because when used properly it will produce historical data on jobs. T-Sheets can eliminate the chaos to employee timecards. Employees enter from any phone. For Construction Contractors Across The U.S.A! When Are You, The Contractor Part Of The Problem Instead The Solution? It’s too easy for an Owner to think that office tools as “Just An Expense” and are not needed to be upgraded. The computer is not broken, there not need to upgrade QuickBooks (it never changes). Let’s not forget that squeaky chair that won’t turn and the 19” computer still works (ignore the green tint) Why Do You Have A Smart Phone Instead Of The Old Flip Phone? Field tools are a given. The truck has a rack for ladders and lumber. Vans have shelves and bins; is tall enough to stand up in which will save wear and tear on employee's knees. Less strain on knees can save or postpone possible Worker’s Compensation claims. Worker Comp claims lead to increased premiums. Once the Tools and Equipment are updated, then it is much easier to see which employees are productive. In the Field – Who is bringing their jobs in on time, under budget is good. Jobs without any warranty work and having signed billable change orders adds to the bottom line. A Good CFO Can Determine Which Employees Are Worth Investing In Additional Training Office Managers | Bookkeepers, fall into several categories: Productive Employees: 1. Appreciate the company is willing to update, upgrade tools, equipment, and software to make their job easier and invest in training to help the Office Manager | Bookkeeper is able to be more efficient. 2. Willing to invest their own time and effort to keep up with technology and improve their skills. Overloaded Employees: 3. Works efficiently but still have more work to do and is falling behind. The company has grown, and workload has increased. The employee needs additional help (tools, technology, an assistant) to be able to keep up. One tiny change at a time could make a huge difference. Resistant To Change Employees: 1. Fear, learning new things is a challenge because afraid they are unable to learn new technology 2. They want to keep everything the same. Avoid change and therefore over time become a “Bad Bookkeeper” where the most important thing is “Control” over everything and everyone. The People Who Got You Where You Are Can Take You Where You Are Going Only If They Continue Learning And Growing Themselves. - Randalism Simple Efficiency is a “Win-Win” for everyone. The Contractor Owner receives the reports needed to make good, proactive decisions. The CFO has a smooth running operation and is able to focus on the “Money Management” duties necessary to run the business. The Office Manager | Bookkeeper is able to efficiently enter the day to day paperwork into the QuickBooks file, Answer the phones and complete other daily tasks without frustration The Field Staff know they have turned in all their paperwork (paper and digital) in a timely fashion with limited stress and are greeted warmly by the Office Manager | Bookkeeper. Everyone is ending their day on a “Happy Friendly Note” and looking forward to tomorrow. Everyone Wins When: 1. The Contractor Owner knows the accounting records are accurate and can make decisions 2. The CFO is able to be confident customers are billed, and no one is being paid twice 3. The Office Manger | Bookkeeper, is able to easily track Job Costing and Timecards 4. The Field Staff stays on top of the job and gets signed Changes Orders 5.The Customer is happy with a nice job without any warranty work. And Everyone Goes Home Happy Isn’t That What We All Want? I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating this podcast at www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Contractor_CFOs_Struggle_To_Achieve_Valuable_QuickBooks_Reports

This Podcast Is Episode Number 0189 And It Will Be About Office Manager Becomes Overworked Contractor's Bookkeeper Who Cuts Corners You are a small contractor and needs someone to answer the phone. You hire someone for the office. Calls are coming in and the Admin Assistant has some free time between calls you want to make use of that famous Standby Time so you ask them to do a little more. Being nice; you now give them the new title of Office Manager.  As the Office Manager; that person is in control of the bookkeeping, customer invoices, vendor payments and more. As the contractor, you are excited because you are handing off responsibility of the day to day activities. From your side; you have checked off the box called Office Manger DONE, phones DONE, bookkeeping DONE and material pickup and delivery person DONE. Everything is solved. Good now you can go back to work and start doing the work. This is the part you are good at and like to do.  Are you expecting Too Much from your Office Manager? Does the Office Manager understand Bookkeeping or is just trying to keep the checkbook balanced? Now add employees; are you expecting the Office Manager to understand the payroll? How about the differences between Construction Accounting and Regular Accounting?  Have you ever heard your Office Manager say: Don’t worry about it. I have everything under control. Great everything is working and you go back to work. Life is good and I am making money now.  Surprise – Surprise Now it’s November.  Did you remember to pay The Quarterly Payroll Taxes were due on Halloween. It’s another form of Trick or Treat. If they have been paid and you have money left over it is a treat. The Trick is if you forgot, or didn’t know about them – Do you have enough money to pay? Even the best of bookkeepers are not comfortable writing checks that they know will not clear the bank. Everything is going smoothly. Business is good and growing. More and more jobs are coming in.  Office Manager is handling everything until you ask. How much money did I make on the “XYZ” Job? Then you discover that the accounting reports are missing details.  Is the Problem the person sitting in the Chair (Office Manager | Bookkeeper | Delivery Person). Do they have enough time to do everything. What is the priority? Delivery of Material because it’s needed on the job RIGHT NOW - DROP Everything and go get “stuff” from the supplier and take it to the job. Is the Problem the receipts turned in and are not marked with the job name or never turned in at all? Is the Problem that the time cards are not real time cards for filled out with fiction and guess word days after the fact.  Are the time cards holding up payroll, billing customers (time and material) generally unreadable and show up five minutes before the employees expects their paycheck.  In other words – the Office Manager needs to STOP EVERYTHING to fix, chase down, find something or solve an issue FIRST before the next thing on their list can happen. List is always longer than time needed.     Is the Problem that the phone rings in the middle of something else and the Office Manager can only do two things at once but has ten things to be completed before going home. Ever heard of the old fashion phrase “Just Give It A Lick and A Promise” In other words a quick wipe verses a deep clean edge to edge. Solution for an Overworked Bookkeeper is that something slips. Usually it begins with something that not critical but then it is.    Usually the first to go is Job Costing.  After all the Job Costing is impacting a report that the owner never looks at.  Extra work for when the Office Manager is wearing the Bookkeeper hat.  Just get the transaction into QuickBooks and get the bill paid.  After all that’s what is important. Now is the slide into what I call the Office Manager | Bookkeeper is being in full control of the office.  At this stage the Office Manager | Bookkeeper will settle into a routine on that works best for them.    Office Manager is deciding what is the most important thing to do, how to do it, and when to do it.  Contractor comes up for air and wants reports Unhappiness is when the Contractor comes up for air and asks questions, senses there is a problem but cannot put their finger on what the problem might be.  In frustration the Contractor looks at QuickBooks and because he / she is not into the accounting really just intuitive knows something besides the bank balance is off but doesn’t know what is wrong. Next step is for the Contactor to call an outsider and ask questions.   I suggest a review of QuickBooks file. After the review; I discuss issues with the Contractor about their QuickBooks file. Contractors want for their Office Manager | Bookkeeper to continue doing the books just make it easier for them to do their job. Contractors want for their Employees to be able to easily fill out their time card. Question – Is there a PROBLEM?   Is it the same PROBLEM?  Many Office Manager | Bookkeeper | Field Employees do not see the same problem or issues that the Contractor sees.  Is the Problem fixable? Is the employee on the defensive?  What exactly am I doing wrong?  A favorite phrase of employees is “If I only had “XYZ” – I know what to do.  If they had “XYZ” would they do something additional or something different? When will they do something additional or different? A classic statement from an employee. “I know How To Do that?” OK, If you know “How To Do It” then let’s address why it is not being done. (The excuses begin) Is the tasks not being done really important or not important at all. Who is it important for? Why is it important? Are you sure? Is it worth the cost to fix? As the Contractor – Owner only you make that decision. Otherwise, the Office Manager | Bookkeeper | or Other Employees are really in control and you are working for them. Is that why you are in business? I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You!   Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Overworked_Office_Manager_Cuts_Corners_On_Contractors_Bookkeeping

This Podcast Is Episode Number 0188 And It Will Be About The Top Marketing Tactics Every Contractor Should Be Utilizing If you are on our present blog post, you’ll find that today’s guest Hannah West of Home Improvement Leads.com offered a few essential pieces of advice for how to be more visible to potential customers, how to strengthen your brand, and how to garner more business. If you haven’t been to our site yet, it’s fasteasyaccounting dot com forward slash blog and the latest post is right on the top. She mentioned about Using Social Media Platforms that Make Sense. And I couldn’t agree more! Today, I will talk about three fast and easy marketing platforms that I think every construction company owner should sign up for. All you need is a smartphone and three social media accounts. Keep your credit and debit cards away because creating business profiles for these platforms doesn’t cost a thing. You heard that right, I said three. In doing this, consistency is key. I promise to be less technical. Let’s start with building your business presence in Google by creating a Google My Business page. You can set up your business hours, add your phone number and if you have a physical location, add directions using Google Search and Maps to help visitors and prospects find your office. Since Google Search is the most popular search engine, it only makes sense to provide Google your information so clients can find you wherever they are, whenever they need your services through their computer or most likely on their smartphone. Make sure your business details are correct, you can edit it anytime to keep your information up to date. Connect with your customers by staying on top of reviews and responding to them as the business owner. Second, set up a Facebook business page. About 800 million people are actively using Facebook every day and it has become an important tool for practically any marketing strategy for almost any business – online or brick and mortar, retail or services. With a Facebook Page (and I’m reading this from their site), you can easily show customers what you’re all about. Keep new and existing customers engaged by Listing details – like hours and contact information, adding big, beautiful photos and images, posting updates to let people know the latest about your business, and add call-to-action buttons to let people take action directly on your website. As I’ve said earlier, consistency is key. Make sure you provide good content whether it’s once a day or twice a week. Once you get comfortable creating posts and maintaining your business page, you can create advertisements to Facebook users in your area within a specific age bracket and interests, to let them know about your company and the services you offer. Last but not the least, is to create an Instagram page. Yes, construction contractors are all over this photo sharing app, too. It’s time you should be posting “before and after” photos of your work, quick tips, and tricks to your followers and possible clients, and get to know people in your area through photos. The best thing about Instagram is that you can connect it to your Facebook account and have the option to post a photo in both platforms in one go. Perhaps, most of you are used to marketing locally, posting fliers and door hangers, and other traditional way of letting your company known. But having your presence in these social media sites adds credibility to your company, makes you an authority in your field, and builds trust in the community you’re in, as people nowadays often search for answers in their smartphone. Why not build your storefront right where they can see you and offer solutions to their problems, whether it’s their leaking faucet or backyard fence? Remember how Randal puts it, Marketing first, Accounting second, Production last. If you are listening to our podcast on your smartphone right now, I take it you are tech savvy enough to download and sign up for these social media platforms. But in case you are lost and would like me to point you in the right direction. I’ll be sure to add links to tutorials for setting up these sites for your company in the blog post. Also, please feel free to email or call us. For those of you who are already on Google My Business, Facebook, and Instagram, how is it working for you so far? Your feedback would be greatly appreciated. And if you just made these social media accounts, let us know your username in the comments section of this blog post. I’ll be sure to check your postings and follow you. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have, for now; please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person.   We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations  

This Podcast Is Episode Number 0187 And It Will Be About Construction Contractors Mad Dash To The Year End Mad Dash To The End Of The Year And I Can’t Remember Last Week Let Alone January, April, July’s Stuff! The year is almost over. It is now the (4th) Quarter and year end deadlines are approaching. Have you given your bookkeeper, wife, partner), accountant or tax accountant the information need to complete your reports. Accountants need good information to be able to create detailed reports and save money on your taxes. Here is truly where the expression “Garbage In Equals Garbage Out” comes into play.  It is impossible to create QuickBooks Job Costing Reports when all anyone knows is the amount of a deposit on the bank statement.      It’s the Mad Dash To The End Of The Year as a contractor recently described their Year End Madness to get his documents ready for the Tax Accountant. Are You In This Cycle Of Chaos Too? It’s Preventable! Paper, Paper, and More Paper Bookkeepers and Accountants are unable to create good reports without paperwork, documents, receipts, customer invoices, customer payments, bank statements, credit card statements, payments made using a personal checking account instead of your business account (it was easier because that was where the money was), personal credit cards (I used whichever one was handy in my wallet) and all the cash receipts. Client to the Accountant: Why do I have to give you all this stuff?      Every Missed Receipt That Is A Business Expense Is A Missed Deduction Bookkeeping is all about Tracking The Money. Money In, Money Out is just tracking the checkbooks. Accounting is entering into an Accounting System which creates a Profit & Loss and Balance Sheet for the Tax Accountant to do the Annual Taxes. (Every successful contractor should have a Tax Accountant do their annual tax return) Construction Accounting Is That Next Step To Growing Your Company In Construction Accounting not everything is an expense. Not every item, tool, material or customer goes into the Chart of Accounts. In some case Class Tracking is useful, but most of the time it is used to make up for a poor Chart of Accounts or using it as a “workaround” for an accounting product not designed to have Job Costing Reports or Cost Of Good Sold. Giving your bookkeeper only your bank statements and saying “Fix It” – I Want Job Costing Reports, I Want To Know Details is not enough. Doing It The Way You Have Always Done It – Then Expecting A Different Result isn’t the way it works. Success Is Doing A Few Things Right  And  Repeating and Adding Improvements One At A Time. To grow and improve a company needs to be able to adapt to the changes, be open to new ideas. At Fast Easy Accounting we have and entire department, The Project Management Department, that questions every bit of our Contractors Bookkeeping System everyday and continually finds new and better ways to improve it and make it more valuable to Contractors like you no matter where you are in the USA Including Alaska and Hawaii. Our website www.fasteasyaccounting.com features more video, podcasts, and blogs with more places where podcasts can be accessed, including FREE Forms and new ways for contractors like you to connect with us and get the help you need.     For Clients, we added a Document Management System that links with many of the banks and credit card companies across the country (adding more all the time).  We still use our original Document Management System behind the scenes.  The two companies have figured out a way to work together for the benefit of us and our clients.  Change is not always an easy thing, but we are so glad we did. The same applies to you “The Contractor” As you figure out ways to be more efficient, better pricing, prove a better product and service your cash flow and profits will increase massively which means more money in the bank to operate and grow your Construction Company and more freedom to do the things you really want to do with your life! Without YOU – Building, fixing, repairing, maintaining our homes, businesses, roads, bridges, highways and all of the other infrastructure we take for granted; we would not be able to live indoors, have lights, internet, running water, and be able to drive to the grocery store. Thank You!  Now It Is Our Turn To Help You – How Can We Help?   If you have an existing QuickBooks Desktop – We can help, all we ask is a backup copy to review the file. If you have an existing QuickBooks Online – We can help, all we ask is accountant access to review the file. If you are using a “shoe box, file box or stuff is still behind the seat of the truck we have many ways to get documents to us. We never ask questions are not to beat up on you for "How You Have Done It." You know it’s messy and missing stuff. We know it too, and we want to help figure out the gaps. Our goal is to quote a Flat Rate number for our services that is “Fair To You” and “Fair To Us.”     It Is All About Choices. I will offer suggestions, and my proposal is recommendations.   What do you want? In most cases, it is answers and reports with as little direct input from you as possible. To get there, we have to address  “Where You Are Now” and “Where You Are Going” to determine “How To Get You There” In all things it still takes some effort and activity on your part. QuickBooks Setup For Contractors – We have a Customized Setup for QuickBooks that we know works and we are constantly updating it. It works for all contractors from Weekend Warriors, Handyman, Trade Contractors, General Contractors, Remodel Contractors, TI Contractors, Builders and Developers. You can be “Too Big” but it is not possible to be “Too Small” with Flat Rate Pricing we focus on “Where You Are Now.” Cleanup  Existing Data - The Past: What do we do about what has already happened Missing Data – The Past: What do we do about “What’s Missing?” Examples: Payments only – Vehicle payments, credit card payments; money was spent, WHY?   Examples: Deposits in the bank – Is it Customer Payments (Who), Job Deposit, Refund, Your Money When in doubt – State and Federal Government will treat in Customer Payments as taxable INCOME. You Are Thinking - You know what to do if you just had the QuickBooks file setup Fast Easy Accounting Does The Following:   Setup New QuickBooks File – No Transactions and we return your QuickBooks file. Setup New QuickBooks File – Add your existing Transactions and give the QuickBooks file back. Setup New QuickBooks File – Add and cleanup your existing Transactions and give the QuickBooks file back. Setup New QuickBooks File – Clean up your existing Transactions, add missing transactions and give the QuickBooks file back. Do You Want Something Else? What to do with your QuickBooks file? Try The Cloud Option? We always recommend Hosting your QuickBooks File in the Cloud because it allows you to access your QuickBooks desktop version from anywhere in the world using a Desktop, Laptop, Tablet PC or Apple Product. (QuickBooks must be PC Version; however, you can access it with any web-enabled Apple Product.) For Do-It-Yourself Contractors As long as you have a copy of the QuickBooks Desktop (PC Version) less than three years old you can start anytime. We only Setup, Cleanup your QuickBooks file if you want us to do it. We recommend it… But that is totally optional. Ongoing Bookkeeping  - Who Is Doing The Future Bookkeeping? Outsource To Us, Outsourced To Others, In-House Bookkeeper or continue to give the “Shoe Box” or “Excel Sheet” to Tax Accountant – After all, It’s All The Tax Accountant Needs. Accounting is just a waste of money.  If this is your thoughts; feel free to subscribe to our newsletters, listen to our Podcasts and use all of the FREE forms on the website. This is not the answer your Banker is looking for when the Bank asks for financial statements to approve your loan. We are here when you are ready to make a change.     For Outsourced Clients who want Fast Easy Accounting to do their bookkeeping: Our Custom Chart of Accounts is required, some cleanup to have good numbers starting with agreed Start Date is a must.  QuickBooks File rests in the Cloud. Client access to QuickBooks is Optional and can be added at any time (additional fees). Proper accounting is more than entering in the bank statement.   Reports are only as good as the data received. If you don’t know “xxx” how will we? So much “fill in the blank” information is in your head and with proper documents sent to bookkeeping; this could be in your accounting system providing answers to that question.  Who Owes Who How Much Money? It is almost the end of the year and the Mad Dash Begins. You are starting to ask yourself the $64,000 questions: What About and have I met my goals for this year? You are thinking about what to do for the balance of this year and planning for the start of next year? Should I start now?  Should I wait? I can’t decide! It is time to start fixing those loose ends now! The reports are only as good as the data received. If you don’t know the answers tell us as much as you can and we will do our best to “fill in the blanks.” A Quick Reminder: Forms to the Internal Revenue Service is due on January 31st each year, for W-2 Employees and for 1099 Contractors. Now is the time to start collecting W-9 on your Subcontractors and 1099 Contractors. It is not too late to reclassify 1099 contractors to employees and pay the State and Federal Payroll taxes. We are here to help. Call me to discuss your needs. Sharie 206-361-3950 or email [email protected]. If we have chatted before and things have changed, call or email me with an update on your new adventures.  I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You! 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? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations   Business Process Management (BPM) For Contractors Xero Outsourced Construction Accounting Services QuickBooks Outsourced Construction Bookkeeping Services We Are Xero Accounting Experts Specializing In Construction Bookkeeping Services 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 [email protected]                                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Construction__Contractors_Mad_Dash_To_The_End_Of_The_Year

This Podcast Is Episode Number 0186 And It Will Be About When Being A Licensed Contractor Is Not Enough When You Hire A 1099 Contractor They May Actually Be Your Unplanned Employee! Having a contractor’s license is not proof enough you are a business versus an employee. If you hire a 1099 Contractor (Specialty or Trade Contractor), they just become your employee in the eyes of the tax agencies. When you hire 1099 contractors, you need to know that their state contractor’s license, bond, and insurance are active. If you are doing construction work in Washington State You can start here https://fortress.wa.gov/lni/bbip/Search.aspx When a being a licensed contractor is just not enough! During audits state, agencies are now looking to check about the bond and insurance.  Anytime a contractor’s license is suspended the state may reclassify that person as an employee on your jobs. Contractor's License Suspensions Are Computer Generated Did you mail your renewal to the wrong mailing address? Did you send your liability insurance payment in late? Did you forget to renew your bond? Suddenly just like any other employee you owe Worker’s Compensation, State and Federal Unemployment. Depending on your state’s (wage & hour law) that may not be a big deal and you may only incur nominal fines, penalties, and interest. Some states are more friendly and easier to work with than others. The common factor is they are all concerned about tax revenues and unlicensed construction contractors. Ask Yourself These Questions Regarding Your Subcontractors Are they bringing employees to the job? Are they bringing heavy equipment? Why do you if you are just going to 1099 them? 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 Washington State Labor & Industries has several definitions to decide whether or not the contractor you hire is really a contractor or an employee and here are a few: Supervision Do they perform the work free of your direction and control? Separate Business Do they offer services that are different from what you provide? Do They Maintain and pay for a place of business that is separate from yours?   Do They Perform services in a location that is separate from your business or job sites? Previously Established Business Do they have an established, independent business that existed before you hired? Required Documentation May includes other customers or advertising. IRS Taxes: When you entered into the contract, was this person responsible for filing a tax return with the IRS for his or her business? Required registrations: Are they up-to-date on their required local, county, State, and Federal business registrations? Ask your State's Department of Revenue if their business license is active. If they are a construction contractor, check their contractor registration and  license. If they have employees, check their workers’ compensation account and claim history. In Washington State, you can do it through The Department of Labor And Industries. Do They Maintain A Useful Contractors Bookkeeping System: Do they maintain their own set of bookkeeping records dedicated to the expenses and earnings of their business? Note: If you plan to treat your worker/subcontractor as an independent, make sure you can prove they are. For your protection, you should always ask the person you are hiring to show you proof otherwise you could be liable for all of their employee taxes and all of the employer taxes plus fines and penalties. Steps We Recommend For Construction Contractors Who Do Not Want To Have Employees. Keep your business licenses and registrations up to date. Washington State Licenses http://www.sos.wa.gov/corps/corps_search.aspx Washington State Department of Revenue https://fortress.wa.gov/lni/bbip/Search.aspx Washington State Labor & Industries https://fortress.wa.gov/lni/bbip/Search.aspx Washington State Resellers Permit saves money and increases cash flow: http://www.fasteasyaccounting.com/blog/?Tag=Resale+Certificate Marketing To Prove you are actively engaged in acquiring new customers. Be Proactive and market your business. Join a Trade Organization, Chamber of Commerce, set up a Facebook page. Add your business listing to other social media sites and add your business contact to the bottom of your emails. You must have more than one customer to not be considered an employee. Maintain Contractors Bookkeeping System which means do they or someone else maintain their contractor's bookkeeping system dedicated to the expenses and earnings? Today more than ever, it is necessary to have a properly setup QuickBooks file and maintain it. Someone with the knowledge and training combined with an understanding of construction to perform a QuickBooks Set-Up for construction, Clean-Up, Tidy-Up and Update QuickBooks. Do you have 941 or Sales Tax Issues? If so we can help. As The Contractor You Are The Most Important Employee http://www.fasteasyaccounting.com/blog/bid/168849/You-Are-The-Most-Important-Employee-In-Your-Construction-Company Please Note:  We work with the following company types: Sole Prop, Partnerships, LLC's and S-Corps.  No matter which company structure you choose to be, we are here to support your contractors bookkeeping services needs. As Part Of Best Practices:  It is in our Opinion the best company structure for active contractors is an S-Corp. Making "A Profit" and Having Real "Money Left Over" is how you are able to the things you want to do in life.  In Construction, Good Bookkeeping Is more than entering the receipts into QuickBooks For Contractors. We start where you are: We help “A Little” or “A Lot” depending on the individual needs. We take a shoebox, file box and all the receipts hidden under the seat, & turn them into useable data. When we are done, your QuickBooks will create easy to understand year end reports for your tax preparer to complete the annual tax return. We also provide on-going services www.fasteasyaccounting.com/bookkeeping-services-more-detail Customized reports hold many answers to the WHO Questions – Who Owes Money To Whom?  Who is your Best Customer?  Is your #1 Favorite Customer adding / taking profits or cash flow? What does that mean?  We handle the paperwork, and you handle your money.  We help with the details so that you can focus on the management tasks that only you can do. What should you do- Estimates / Create Billings / Collect From Your Customers / Deposit The Money / Pay The Bills Along the way – we help with item lists, detailed customer invoicing (pay apps) and job costing. Summary:  We work from the first dollar in on January 1st to the last dollar spent on December 31st and all of the transactions in between from Customer Invoices, The Bills Paid, Reconciling Bank Statements, Credit Card Statements and knowing what to look for on your Vendor Statements.  Client access to QuickBooks is optional. The Next Step Let’s Chat! http://www.fasteasyaccounting.com/chat-with-sharie/ Looking forward to helping you...(even if it’s just listening) I can be reached at 206-361-3950 (9-6 PST) 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 [email protected] I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Contractor Bookkeeping Done For You!   Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_When_Being_A_Licensed_Contractor_Is_Not_Enough

This Podcast Is Episode Number 0185 And It Will Be About Handyman Marketing Machine With Dan Perry Today's podcast guest is Dan Perry, founder of HandymanStartup.com Tell us about your background and how you came to be where you are now. I started my handyman business back in 2011 and was a complete novice when it came to business. But, I was determined to learn because I didn’t want to have to go back and get another 9-5. So, I invested in learning sales and marketing from other industries since the stuff for handyman and contractors seemed outdated. I applied and tested these strategies in my own handyman business, and got great results and quickly had a full schedule while charging a premium. Since, I’ve continued to learn, but I’ve turned a lot of my focus to helping other handymen and contractors through online training, so they can apply these strategies to grow their profits. What are some differences between you and your competitors? There are very few people doing what I’m doing for the handyman industry, but the major thing that differentiates me is the quality and depth of my trainings. There just isn’t anything else out there (that I know of) that walks people through online marketing and pricing in a comprehensive, step-by-step fashion. My competitors are more focused on selling leads or marketing services. I’m empowering them to do it themselves and not only save money but get better results. Basically, my competitors are selling fish and I’m teaching people how to fish. What problem or issue does your product or service solve? I have several programs available that solve various problems - from getting started, to pricing and marketing. But, there are two big problems my latest training Handyman Marketing Machine solves. The first is the problem of contractors being treated like a commodity. The second is the problem of having gaps in their schedule or not having enough customers. Three things a contractor should consider when hiring your services? 1) Do they offer a quality service 2) Are they willing to put in the work to get the results 3) I have a 90-day guarantee, so there is no risk. How can you tell if someone is a good fit for your company? If they are currently averaging less than $75/hr for their labor. If their schedule isn’t full consistently. If they are motivated and ready to learn. What types of advice do you give a contractor? One simple tip to generate more leads online is to focus on online reviews. Basically, choose a website (Yelp is usually a good one), and focus on soliciting reviews for JUST that directory. The goal is to have the most 5-star reviews in your category. This will give a tremendous boost in leads on its own. In closing, tell the listeners how they can contact you The best place to learn more would be to go the HandymanStartup.com/getcustomers. There they can get some free video training to learn more about my marketing strategy and who they can fill their schedules with profitable jobs. To sign up and learn more about Dan Perry's Handyman Marketing Machine, please click the link below: Handyman Marketing Machine About Dan Perry: Dan Perry is a professional handyman and the founder of HandymanStartup.com - an online training resource dedicated to helping handymen, plumbers, electricians, and contractors understand business and marketing so they can get more customers, make more money, and enjoy their businesses. He's also the author of "The $100K Handyman," a complete guide to pricing your services for maximum profit.  Connect with him at www.handymanstartup.com or on twitter @bigdhandyman. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected]     Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_Handyman_Marketing_Machine_With_Dan_Perry

This Podcast Is Episode Number 0184 And It Will Be About Unique Tips To Avoid Bookkeepers Who Will Destroy Your Construction Company This podcast was recorded in late September 2016 in response to a trend we see all across the USA including Alaska and Hawaii. It is likely happening everywhere in the world. When the world economy collapsed beginning in 2008, a lot of companies went out of business, and one of the hardest hit sectors was construction. Thousands of bookkeepers were suddenly out of a job, and many of them began to freelance taking on a few clients in order to pay rent and keep food on the table. As the economy continues to improve a lot of them are finding jobs with contractors like you because of the security that comes with having a stable income. The problem is they have been accustomed to having lots of free time during office hours to chat on their cell phones, surf the web, spend time on Facebook and other social media sites; not buckling down and getting work done, right and on time. In addition, most of them have not kept up with the advances in Construction Accounting Technology let alone keeping the construction bookkeeping skills updated. What happens when he or she realizes they were earning $30 an hour as a freelance bookkeeper and now they are slaving away in your cramped office with no snacks, beverages, using outdated hardware and software for $10 an hour? Psychologists refer to it as mental stress or "Cognitive Dissonance" or "Mental Noise" or "The Chattering Monkeys of the Mind." Leon Festinger's theory of cognitive dissonance focuses on how humans strive for internal consistency. An individual who experiences inconsistency (dissonance) tends to become psychologically uncomfortable and is motivated to try to reduce this dissonance—as well as actively avoid situations and information likely to increase it.[1] Perception Is Reality Freelance bookkeepers average approximately 4 hours of paid work a day. In their minds, they are worth $30 an hour, and you are ripping them off by paying them 1/3 of what they perceive are worth.This thinking begins to consume them, and in since most bookkeepers have a Driver Personality it means they are confronted with the primal fear of all Driver Personalities “You Are Taking Advantage Of Me And I Am Going To Get Even!” There are several ways this plays out and the two most common are embezzlement and becoming a Bad Bookkeeper A Google Search - Of Construction Bookkeeper Embezzlement will generate thousands of hits, and most of it could have been avoided if the construction owner had known about and followed a few simple guidelines. #01 - Don't Hire A Bad Bookkeeper Click Here For More... #02 - Understand The Employee Theft 10-10-80 Rule - Discovered over many years of experience and first-hand observation by auditors, accountants, fraud examiners, anyone involved in detecting employee theft. Ten Percent - Of all employees including bookkeepers will steal in a variety of ways from office supplies, petty cash, graft, kickbacks, and payoffs from your suppliers, vendors and sub-contractors and even hundreds of thousands or even millions of dollars. They will do it regardless of how many security systems are in place because they lack integrity and have a "taker's" entitlement paradigm that states: "It Is Better To Take Than To Make". They cannot be stopped, only caught! And only then if you have systems in place and if you can convince the criminal justice system to take action, good luck with that! Ten Percent - Of all employees including bookkeepers will never steal because they have integrity and a "Producer's" paradigm that states: "It Is Better To Make Than To Take". In the end, these are the people who will add so much value to your company you cannot help but reward them with more money, benefits and recognition. Because if you do not they will be recruited by your competitors. This is another example of Leveling, click here to learn more. Eighty Percent - Of all employees including bookkeepers will steal if they feel certain they can get away with it and if circumstances allow for it due to weak integrity and a sense of "Redistributing The Wealth, But Not The Work Or The Responsibility." #03 - Your Bookkeeper - Asks for signature authority on your checking / savings / payroll accounts #04 - Your Bookkeeper - Has a lifestyle that seems above what they are earning #05 - Your Bookkeeper - Takes Records Home to work on or they want to work in the office when no one is around (Fraudulent activities are easier when nobody is around). #06 - Your Bookkeeper - Refuses to take a vacation. #07 - Your Bookkeeper - Gets defensive when you or your CPA asks questions. #08 - Your Bookkeeper - Has access to your credit/debit cards. #09 - Your Bookkeeper - Receives mail-order packages at work. #10 - Your Bookkeeper - Has QuickBooks in a complete mess and you cannot understand any of it. #11 - You Bookkeeper - Tries to explain away delinquency tax notices. #12 - Your Bookkeeper - Insists on picking up the daily mail. #13 - Your Bookkeeper - Is the primary contact for your company's banks, auditors, creditors, etc. #14 - Your Bookkeeper - Misplaces payroll receipts, deposit records, supplier letters, and estimates. #15 - Your Bookkeeper - Makes the bank deposits and they seem to be too small. #16 - Your Bookkeeper - Show signs of a drinking, drug, or gambling problem or family financial problems. #17 - Your Bookkeeper - Suggested they could save money by getting rid of the outside accounting firm. #18 - Your Bookkeeper - Gets angry when you ask for a QuickBooks report #19 - Your Bookkeeper - Tries to blame the previous Bookkeeper or outside accounting firm for messy QuickBooks #20 - Your Bookkeeper - Does not get along well with other employees and staff members. #21 - Paying bills with Cashiers Checks - When you look it up on the internet it will only show as a withdrawal There Are More Warning Signs - To be aware of and action steps you can take. Bad Bookkeeper Tell Tale Signs They train the contractor like an organ grinder trains a monkey, click here to learn more They refuse to invest time and money in continuing education because they know everything They are passive aggressive and will study you and your staff to learn how to manipulate everyone They are masters at gaining power over you, your staff, and new employees and outside suppliers They hate change and will fight tooth and nail to stop it, or they will destroy your company They know you're responsible for taxes, fines, penalties and interest; so this is where they get even They know how to increase your quarterly tax return costs, click here to learn more They understand that bookkeeping is 90% repetitive transactions and 10% complex transactions They don't know what to do with complex transactions, so they put them wherever they feel like They have side jobs working for other companies or an entire bookkeeping business on the side They decide how much integrity, if any; your company has and they tell everyone who will listen They create a miserable work environment causing turnover in your staff which costs you money They make your customers and clients feel unwelcome and unappreciated which costs you money They act as if they are serving time in jail and do the minimum required to keep their job They say things to suggest businesses are bad and construction company owners are the worst They are jealous of your success and even more so if they ever had a failed construction business They don't learn anything new; why should they, nobody is reviewing the QuickBooks They never learn anything new unless the company pays for the training and it is on the clock They quit when the tax return is being prepared because QuickBooks is a mess and they're caught They come in a little bit late every morning and leave a little bit early to make up for it They bait you with drama, nasty comments and minor actions to find your tolerance limit They get even with you for every perceived injustice against themselves and society as a whole They keep you busy with lots of mindless crap to divert attention from why the books are a mess They let you think you are in control of the bookkeeping and the bookkeeper until it is too late They make you think they are looking out the best interest of the company, LOL! They let the work expand to fill whatever time you are willing to pay them to get it done When they quit or get fired, expect to hear: “Chaos, panic and disorder...my work here is done.” They become indispensable in order to take time off whenever they please and hold you hostage They negotiate for additional perks, benefits, changes, and elimination of personal accountability They network for a better job with your clients, suppliers, vendors and your competitors They represent themselves to outsiders as the owner or manager with decision-making authority They text, message, e-mail, surf the web, chat on the phone and socialize on company time They train you to leave them alone by getting upset or angry whenever you want anything They work hard at causing just enough chaos, so owner does not earn more than the bookkeeper When your business fails, they tell everyone you were incompetent, and they saw it coming They live in a chaotic, neurotic, psychotic, selfish, disorganized, blame game environment  They work through lunch to leave earlier in the day (At the office for 7 hours and get paid for 8) Question - What happens when the person in control of QuickBooks is unhappy with you? Answer - The same thing that happens when the person who cooks your food is unhappy with you!   -------------------------------------------------------------------------------------- In The End - Bad Bookkeepers will leave you with unfiled and unpaid taxes, gasping, upset, with tear stained checks, wide-eyed, stupid, mouth open, standing in the middle of the highway of business success staring at the remains of your business, crashed, rolled over, upside down, in the ditch, on fire, with flames belching from all sides with no hope in sight. And then things get real ugly as you recall reading The General Contractor And The River Of Construction Commerce and realize all of this could have been avoided! I have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases, it was Bookkeeper Incompetence or Bookkeeper Embezzlement, and in other cases, it appears to me there may have been some deliberate identity theft; however, I cannot be certain. All I know for sure is that I have witnessed business failures that have led to divorce, families destroyed, finances wiped out and people living on the streets. In a few extreme cases, I know of contractors that have taken their own lives and it needs to stop!   I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected]   Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                     Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Unique_Tips_To_Avoid_Bookkeepers_Who_Will_Destroy_Your_Constructi

This Podcast Is Episode Number 0183 And It Will Be About The Truth Behind Our Live Chat With Construction Contractors   I have been working as a Webmaster at Fast Easy Accounting for over a year now and I can truthfully say, I enjoy my job. I have been exposed to researching and reading all about the construction industry and were given the right tools and resources to expand my skillset. You, our visitors coming from this trade, must be thinking what do I know about this profession considering I am a web developer (if you haven't listened to Randal's podcast with me or would like to read my pilot blog post, please click here). Since my working hours are primarily dedicated to our online business presence - mainly website and social media, I took over our live online help for a couple of months. This experience, although not new to me, is something I look forward to and appreciate doing. It made me realized the purpose of my work in maintaining the website. I welcomed visitors and established a firsthand relationship with construction professionals in different parts of the world by responding to their queries or concerns in the chat box. Would you be interested to know what is the most recurring question in my everyday quick conversations I had with them? It’s about pricing, price quote, and the cost of our services. Of course, that is acceptable. It makes sense for you to take cautionary steps before diving in. We should all value our hard-earned money and if you prefer to look for better deals in order to save, by all means, do it. Here is where I want you to keep an open mind. Prospective clients think that construction accounting is just like a walk in the park. What's so difficult about punching numbers and entering receipts? I can outsource a bookkeeper in Southeast Asia for a fraction of the cost. Or maybe my wife can handle that for free. Well, let me tell you a secret, that park is actually Jurassic Park. Yes, even for small business owners. You’d realize that soon enough when your kitchen island or dining table is filled with piles of paper while you’re screaming from overwhelming administrative work. We can’t emphasize it enough; Construction Accounting is different from Regular Accounting (as I've explained in my video below): We understand that you are managing your own business and most of you work in the field as well. In doing so, you look for quick solutions and specific tools that are made for your trade and fits in your industry. Likewise, we would like to offer you services particular to what your company needs in consideration to your budget. Simply put, it would be hard for me to answer you right off the bat with overall cost or bookkeeping service charge. I won’t be able to give you a specific number. That is the reason why we always say you only need to contact Sharie. You can set up a phone consultation with her to talk about your bookkeeping and accounting needs – at no cost. There you go, my answer is IT’S FREE! It’s free to chat with Sharie. Most of you have been in this trade long enough to identify tire-kickers from the real deal, I get that it’s hard to decide and think straight when your mind is already occupied with other important company matters. But keep in mind, this is the financial department of your business, construction accounting is the heart of your organization. Your next best step is to call Sharie at (206) 361-3950 or email [email protected] to schedule your no-charge consultation. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking a holistic approach to your entire construction company and helping support you as a contractor and as a person.   - Norhalma Verzosa Webmaster, Fast Easy Accounting    ----------------------------------------------------------------------------- I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected]     Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs  This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, The_Truth_Behind_Our_Live_Chat_With_Construction_Contractors

This Podcast Is Episode Number 0182 And It Will Be About A Unique Faucet Of Qualified Leads Just For Contractors Like You! Today's Guest Article Is From Tomer Applebaum Tomer was interviewed for the Contractors Success M.A.P. Podcast and was very generous with his time and provided some extremely valuable insights for how you can generate Job Leads as easy as turning on a faucet. A Faucet of qualified leads You are a master craftsman You have spent years learning and plying your trade to get where you are. If you’re an electrician, you can run wires in your sleep. You don’t have to think about wiring the electric box, you know.. If you’re a plumber, you know just how much dope or tape to wrap for the seal to be tight. You don’t have to do it twice to prevent leaks. You do it right the 1st time. Whatever your trade, whether you're a painter, a carpenter, a handyman, whatever it is, you know it well. You can serve people and help them. And now you’ve started a business… Oh oh… The number 1 challenge As every new business owner knows, the 1st thing you need for your business is customers. Where are the customers? how to get to them to come knocking on the door? and even more importantly: where are the right customers? This is a crucial element of your business. At first, you probably try to lowball a few people you know. kicking yourself when the expenses turn out to be higher than expected. An extra run to get parts perhaps, or an unforeseen complication. And now you’re not even sure you’re making any money on the job. And even at a later stage of your business, when you’ve accumulated a few loyal customers, and word of mouth starts slowly kicking in. You find that… not all customers are ‘born equal’. some customers, are easy to work with, easy to serve, and easy to collect payment from (a crucial part of any healthy business) but some… well, not so much. What do you do? Is it possible to eliminate this constant pain of wondering about whether you will have work next week? And whether your customers will be a good match to the service you provide? Is it possible to be able to focus on delivering an excellent service, on getting the job done right, and knowing that the leads and customers will be there when you need them? Yes it is. A useful trade that can serve you I know you might be a bit skeptical, but bear with me a moment, you’ve spent years learning your trade until you became as good as you are, it took years of learning and practice, and making mistakes to become as good as you are at your trade. And as you know quite well not all customers understand and appreciate the effort and expertise you bring to the table. Bear with me a moment and let me show you how my trade can serve you What I do is I get you leads. Plain and simple. And not only do I bring you leads but I create a faucet of leads which you can turn on and off at will. If you have more work then you can handle, then you just turn off the faucet, if you have extra time on your hands, you simply turn the faucet back on. I do this solely on the internet, for 1 simple reason. It’s the best way to market your business. The reason the internet is the best place to advertise your business What is so special about digital advertising? Why is it better than print, TV, radio, street signs? Well, I don’t want to be blunt about it, but unless you’re Coca Cola. Old advertising is DEAD. The thing is, all of those ways of reaching potential customers are like a shotgun, like a loudspeaker. You’re just sending out your message (and Wasting your hard-earned advertising dollars) to e-v-e-r-y-b-o-d-y. And you’re paying big bucks, to expose your message to all of these people who will Never buy from you! Not everybody is your customer, so you shouldn’t pay to broadcast your message to everybody. Your ads should be delivered to your ideal potential customers. Online It’s different Facebook knows everything about your customers, and trust me your customers are there, there are more than 1,000,000,000 users on Facebook, (yes that’s over one BILLION) And using some specialized tools Facebook gives me. I can make sure your ad is seen, only by the people you want to see it. When you advertise online you can (and should) tailor that ad for your ideal customer. All of a sudden, instead of yelling at people scattershot, you’re offering them something of value, that they’re very likely to appreciate. And how do I do this? What is this magical power? No magic. This is my trade. I run a Digital marketing Agency. I provide you with a simple service. I target your ideal customer and strike a conversation with him on your behalf, make sure he’s a valid potential customer of yours. I win his trust, and he gives his trust in your business in return, and you get his contact info. And using some specialized tools. You can know down to the cent. How much each lead is costing you. It could be $10.00 it might be as cheap as $1.30! Let me repeat that, you’re not getting just any random leads. Before we even start building you this stream of leads and customers we’re going to have a conversation, and really understand — who is your ideal customer? Who do you love working with most? who can you serve best? And then we build a campaign, a faucet designed to makes sure you reach your ideal kinds of prospects. A Faucet of qualified leads You’re not going to spend a dime on random people who you cannot serve: If you’re focused on commercial we’ll advertise only to business owners, if you do residential, only homeowners. We’ll make sure the prospects live in the areas you serve, make sure we advertise to men or women or both according to which is the better prospect in your niche, we make sure our ads only reach people making an annual income that can afford your services, and we can even screen according to the customers interests if relevant. Your ads will be reaching only the kinds of people which you want to reach, only those who are a good match for you. Long story short: You need qualified leads, you need to know that money that the money you spend on advertising is coming back to you tenfold as paying customers. You need to Advertise online. Thriving Craftsmen What makes my advertising agency so special? Nothing really. There are a lot of digital marketing agencies out there. You are free to choose whoever you want. Heck you can even do this yourself. If you want I’ll even show you how to do it. But just do yourself a favor and start advertising Online. The only thing that is unique to me. Is that I specialize in servicing craftsmen. Why? Damned if I know. I love you guys. I’ve been an electrician myself for years, and I just really love craftsmen, I really want you guys to succeed. I know, how much effort it takes to do what you do. I love the fact that you love your craft. I appreciate the skill and integrity and effort it takes to deliver what you deliver. I want you to thrive. You deserve to thrive. That’s why I started my digital marketing agency ThrivingCraftsmen. I want Craftsmen to thrive. And one more thing. My agency, ThrivingCraftsmen focuses on Direct Response advertising. That’s a big way of saying that I can tell you to the cent how much each lead cost you, and once we establish a long term relationship and do the math we can start calculating how much money you made per $ invested in advertising. The fluffy listing that you pay for each month — that you think is making money, you’re just not sure how much? we don’t do that. Random brand awareness stuff. Nope. We get you qualified leads. Pure and simple. And we tell you how much each lead is costing you. What this will look like Imagine the following: You’re booked for 2 weeks ahead. You turn off the advertising stream. You deliver your magic. Business slows down, you have some empty slots, you turn it back on. Boom, Leads walk in the door. You want to go on vacation? Off season for your trade? No problem. Shut it down. You never, ever, ever, have to worry about where the customers will come from. You sleep well, knowing that you will always have customers, you only need to focus on what you do best — delivering on the job. Your business is thriving. You’re growing month to month. Now you can focus on some better challenges. Like hiring more qualified employees. And by the way, as a side note,  we can help you with that as well. Your ideal employees are on Facebook too! And we can help you find them, and hire them! Final word. You’re a craftsman, an artisan. You know your trade down cold, and you should be free to focus on that aspect of your business. Let us handle the marketing aspect of your business for you. Let us deliver you as many qualified leads as you need. Focus on your trade. Deliver the awesome work you know how to do. What you do is awesome! It’s the foundation of our society. No disrespect to lawyers, accountants (sorry Randal) and such, but Without craftsmen like you society is literally moving back into caves. You deserve to thrive Yours truly, Tomer Applebaum If you’re interested in learning more you’re welcome to register for our free live webinar. I will be going more in depth on how this works, and how you can easily start going in the right direction. There will also be a Q&A session where you can have all of your questions answered. The webinar will be held on The upcoming Tuesday 9/20 at 3pm EST. sign up now to get access, and more free resources on this topic. If you want to talk about hiring our services either Call us at 631–7460437, or drop us a line at [email protected]  ----------------------------------------------------------------------------- I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected]     Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs  This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Thriving_Craftsman_Interview, A_Unique_Faucet_Of_Qualified_Leads_Just_For_Contractors_Lik

This Podcast Is Episode Number 0181 And It Will Be About Annual Taxes and Job Costing from the view of The Contractor The first question is why doesn’t the tax accountant help me with Job Costing? The reason is they are Tax Accountants, not Construction Accountants. If you say "I want to go to ONE Place to all my answers. Have a dedicated person be available whenever I call." You are not likely to find what you are looking for because someone with those skills will cost you several hundred dollars an hour. Maybe you think they are The Accountants and they should know the answers. They are just keeping it a secret. Maybe they don’t know what they are doing, and I need to get a new tax accountant. My Advice is Stop, take a deep breath. Is your tax accountant doing a good job with your annual taxes? If the answer is YES. Please keep them, they are doing what they are supposed to do. Annual taxes is like a job site at the end of the project. The Tax Accountant has a “Punch List” with loose ends everywhere, final cleanup of the job site needs to be done everywhere. Think of it as a Residential Project with the Homeowner living there. Everything needs to be gently picked up, clean up, tidied up and look way better than before you came (or better yet; nicer than when the house was brand new) The same thing applies to your taxes. All the numbers are placed on your tax return in a specific order. Think Proposals which can be a summary of what you are doing. Detailed Estimate is the nuts and bolts with subtotals. Nuts and bolts are part of job costing reports, subtotals and totals move to the tax return. Not all of the items you spent money on are actual tax deductions. The tax accountant must be up to date on the latest changes made by Congress and implemented by the Internal Revenue Service. Remember a few years ago when Congress made changes went they met in January. Then next the Internal Revenue Service had to determine how those changes applied to the individual pages on the tax return. Those changes then had to be sent to the software engineers to update all of the tax software. The rule is the first two pages of the annual 1040 are the summary of your, mine and everyone else’s tax return. The balance of the many pages of your tax return is supporting documents and worksheets. Congress in a single bill can make decisions that are for the current year (today), future years (tomorrow), and yesterday (as in the example of the year changes were made in January that impacted the prior year’s taxes).   Most tax accountants are “Generalists” which means they have every combination of family structure, with and without children, elderly parents, grown children that moved back home, and friends they are helping out. Do you have health insurance, a qualified plan, non-qualified, State-run plan, or hoping for the best and will pay the No Insurance penalty. Do you own your home, have a second home, RV or Travel Trailer that qualifies as a second home. What about IRA’s, 401k’s, changed jobs, someone was ill; had to or chose to take an early distribution. What is a tax deduction and What is Not a tax deduction? Now add a business to the mix. Is the business a Sole Proprietor, LLC, Sub-Chapter S-Corp, C-Corp, Partnership. Did you take a payroll, Loans to Owner, Loans to Members, Loans to Shareholder (makes a difference when preparing the tax return? If you are a Sole Prop, LLC being treated as a Sole Prop or a Partnership, then there is an additional form “Self-Employment Tax” which leads to paying quarterly estimated taxes Quarterly to the Internal Revenue Service. Your Tax returns of today with a business are many pages long; gone are the days of the Easy File. They were the “Good Old Days” when you had a W-2 job, no house, and no to a zillion and one other questions that lead to a tax deduction. Every missing receipt could be a loss of a tax deduction.   Asking your tax accountant to focus on the details of your business is just TOO Much. By the time your information gets to the tax accountant; their focus is working on “The Punch List” starting first with the business tax return or Schedule C of your 1040 (looking for totals or several totals that are added together). Finally moving the numbers to the proper forms in order to save you money on your taxes.  Job Costing and job profitability is a question about details and good record keeping on the part of the contractor. A wife, spouse, partner, friend with the help of a construction accountant provide job costing reports. Without the proper tools, it is a frustrating activity for everyone involved. The contractor, if you don’t know what job you are on and unable to unwilling to slow down long enough to put a job name on the receipt. Then expecting others in your life to be able to EASILY (anything can be done) figure out the job costing with limited information is unreasonable. So when the tax accountant tries to keep their expression blank, without rolling their eyes and gently fobs off you, your wife, spouse, partner, friend off; they think they have it easy.  Tax accountant rolls the numbers all up. (Think subtotals on a proposal) Did the company make a profit Yes or No; determine your depreciation, review your travel, meals and entertainment, other misc. items. Move the numbers over to the personal side (1040 Return) which can also be messy. Complete your return. Thank you for coming in. Send you back to your Construction Accountant for more job costing details. Hoping you have a better year and a little cleaner, tidier records the next time you meet. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                               Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map__Annual_Taxes_and_Job_Costing_from_the_view_of_The_Contractor

This Podcast Is Episode Number 0180 And It Will Be About Annual Taxes And Job Costing From The View Of The Wife Of A Contractor The First Question You May Ask Yourself Is Why Doesn’t My Tax Accountant Help Me With Job Costing? They are Tax Accountants, not Construction Accountants and may not know the answers. You may think they are just keeping it a secret. Sometimes you may think they don’t know what they are doing, and maybe I need to get a new tax accountant. My Advice is Stop, take a deep breath. Is your tax accountant doing a good job with your annual taxes? If the answer is YES. Please keep them, they are doing what they are supposed to do. Annual taxes is like the game of “Pick Up Sticks” Details are everywhere, and all need to be gently picked up and placed on your tax return in a specific order. Not all of the items on the table are actual tax deductions. Your tax accountant must be up to date on the latest changes made by Congress and implemented by the Internal Revenue Service. Remember a few years ago when Congress made changes went they met in January. Then next the Internal Revenue Service had to determine how those changes applied to the individual pages on the tax return. Those changes then had to be sent to the software engineers to update all of the tax software. The rule is the first two pages of the annual 1040 are the summary of your tax return. The balance of the pages is supporting documents and worksheets. Congress in a single bill can make decisions that are for the current year (today), future years (tomorrow), and yesterday (as in the example of the year changes were made in January that impacted the prior year’s taxes). Most tax accountants are “Generalists” which means they have every combination of family structure, with and without children, elderly parents, grown children that moved back home, and friends they are helping out. Do you have health insurance, a qualified plan, non-qualified, State-run plan, or hoping for the best and will pay the No Insurance penalty.  Do you own your home, have a second home, RV or Travel Trailer that qualifies as a second home. What about IRA’s, 401k’s, changed jobs, someone was ill; had to or chose to take an early distribution. What is a tax deduction and What is Not a tax deduction? Now add your Construction Company to the mix. Is the business a Sole Proprietor, LLC, Sub-Chapter S-Corp, C-Corp, Partnership. Did you take a payroll, Loans to Owner, Loans to Members, Loans to Shareholder (makes a difference when preparing the tax return?  If you are a Sole Prop, LLC being treated as a Sole Prop or a Partnership, then there is an additional form “Self-Employment Tax” which leads to paying quarterly estimated taxes Quarterly to the Internal Revenue Service. Tax returns are many pages long; gone are the days of the Easy File. They were the “Good Old Days” when you had a W-2 job, no house, and no to a zillion and one other questions. Asking your tax accountant to focus on the details of your business is just TOO Much. By the time your information gets to the tax accountant; their focus in on picking up all the pickup sticks and put them in the proper order to save you money on your taxes. Job Costing and job profitability is a question about details and good record keeping on the part of the contractor. A wife, spouse, partner, friend with the help of a construction accountant provide Job Costing reports. Without the proper tools, it is a frustrating activity for everyone involved. The contractor, if you don’t know what job you are on and unable to unwilling to slow down long enough to put a job name on the receipt. Then expecting your others in your life to be able to EASILY (anything can be done) figure out the Job Costing with limited information is unreasonable.  CONCLUSION: So when the tax accountant tries to keep their expression blank, without rolling their eyes, and gently fobs off your wife, spouse, partner, friend off; they think they have it easy. Tax accountant rolls the numbers all up. Did you make a profit, Yes or No; determine your depreciation, review your travel, meals and entertainment, other misc. items. Move the numbers over to the personal side which can be much messy. Complete your return and thank you for coming in. The smart Tax Preparers send you back to your Construction Accountant for more Job Costing details. Hoping you have a better year and a little cleaner, tidier records the next time you meet. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                   Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map__Annual_Taxes_and_Job_Costing_from_the_view_of_the_Wife_of_a_Cont

This Podcast Is Episode Number 0179 And It Will Be About Start-Up Your Contracting Company With Equipment Auctions You Started Your Cоnѕtruсtіоn Company, And Now You Need Tools, Equipment, Trucks, And Vans And You Are Dismayed By What Everything Costs The соѕt of ѕtаrtіng a Cоnѕtruсtіоn business саn be daunting and scary, tо ѕау thе least. Nо mаttеr whісh part of this wide wonderful іnduѕtrу you choose or hоw profitable іt may bе, еvery Contractor fасеѕ the same оbѕtасlеѕ fоr асԛuіrіng hand tools, power tools, truсkѕ, vans and heavy equipment. The bіggеѕt оbѕtасlе you will face is getting the money to buу what you need. So еԛuірmеnt аuсtіоnѕ can bе a grеаt hеlр to a Contractor like you. Considering the retail cost of properly outfitting one work van with the tools and equipment to open a skilled trade business like Plumber, Electrician, HVAC, Carpenter, Framer, Drywaller, Flooring, Roofer or any of the other dozens of skilled trades can cost over $25,000 then wouldn't it make sense to save money where you can? Auctions Offer Massive Sеlесtіоn And Deep Dіѕсоuntѕ It is a sad fact Construction Companies suffer from high failure rates because they insist on running their business using P.A.M. instead of M.A.P. and not taking full advantage of their Board Of Advisors which they are paying for most of the services anyway. Their loss can be your gain; however, be forewarned we work with a lot of Contractors who have failed at least once and they can become your most formidable competitor. Nothing clears out the "Cobwebs of the Mind" like crashing a company someone worked long and hard to build. In all cases, the failed Construction Contractor believed they had the drive, guts, stamina and ability to "Power Through" any and all situations with "Brute Force" because in Construction that is how 99.999% of all problems are solved! "If The Grand Strategy Is Correct The Enterprise Will Prove Successful; However, Efficient Operations Cannot Overcome Bad Strategy" - Paraphrased from Sun Tzu Every failed Contractor worth his or her salt will begin to understand the VALUE of a Construction Success System we call M.A.P. after their business has failed and they have time to reflect and think. Make A Wish List Of Tools And Equipment You know what your company needs to make it more efficient and to reduce The Ten Minutes Of Waste Every Day That Is Killing Cash Flow And Profits so surf the internet, visit trade shows and browse the aisles of your local Home Depot, Lowes and other material and tool suppliers and keep updated about what is available. Two of my favorite sites for tool reviews are realtoolreviews on Instagram and protoolreviews on Instagram. Setup Google Alerts To Stay Informed About Auctions Another Secret of Successful Contractors is they know of еquipment auctions ahead of time. They setup Google Alerts to send them emails about upcoming equipment auctions. In some cases, they have a skilled foreman or Project Manager setup their own Google Alerts and spend a few minutes every day reviewing what is being offered at upcoming auctions to see if any of it matches the company wish list. The main disadvantage of auctions is the аbіlіtу to find a wіdе variety оf trucks and tо рurсhаѕе it аt uѕеd рrісеѕ. Evеn іf thеrе іѕ nо real роѕtеd discount, thе tools, equipment, trucks, and vans are ѕеllіng fоr an estimated аррrаіѕеd vаluе which is usually much lоwеr thаn buуіng the ѕаmе stuff brаnd nеw. Sреndіng less money on uѕеd items can bе a hugе hеlр to Contractors like you if who are looking to get the most value for your dollar. Fіnаnсіng and Inѕurаnсe Anоthеr bеnеfіt fоr your ѕtаrt-uр Construction Company is some auction sites have lenders in the audience to help you with fіnаnсіng tо pay fоr your рurсhаѕеѕ. Lеndіng оrgаnіzаtіоnѕ and insurance companies lіkе dеаlіng wіth new and experienced Contractors at аuctions because thе fіrѕt owner hаѕ аlrеаdу absorbed thе initial dерrесіаtіоn that occurs when a tool, equipment, truck or van іѕ taken оff thе dеаlеr lоt. Rеѕаlе values, lеndіng аmоuntѕ, аnd insurance соѕtѕ are less than what it costs to buy brand new which lоwеrs thе risk fоr еvеrуоnе іnvоlvеd. Lеndеrѕ have smaller loan amounts, insurance values аrе lоwеr bесаuѕе the resale vаluе is lеѕѕ which means everything you need is more affordable for your ѕtаrt-uр Construction Cоmраnу. Save Money And Have Bеttеr Eԛuірmеnt Getting bеttеr, bіggеr оr mоrе tools, equipment, and vеhісlеѕ fоr thе ѕаmе chunk of mоnеу is something every Cоnѕtruсtіоn ѕtаrt-uр nееdѕ. Whеthеr you need more trucks tо do mores jobs, оr buying a bеttеr machine wіth еxраndеd financing capabilities, еvеrу dоllаr that can be stretched іѕ a rеаl plus fоr аnу flеdglіng Contractor. Conclusion Hореfullу it іѕ easy to ѕее hоw equipment auctions саn роѕіtіvеlу affect your Construction Company whether you are a ѕtаrt-uр or an existing business аnd rеmоvе аnу doubts оr hеѕіtаnсу about buying frоm аuсtіоnѕ. Do a bit of research and find thе bеѕt аuсtіоn соmраnу for your needs and pay attention to specific dеtаіlѕ regarding buyer protections thаt are оffеrеd so you саn buу with соnfіdеnсе. Auсtіоnееrѕ who understand the value of repeat customers like you will do their best to accurately rерrеѕеnt what the sell. Construction start-ups and experienced Contractors like you can dо quite wеll аt thеѕе sales!  I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                           Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Start-Up_Your_Contracting_Company_With_Equipment_Auctions

This Podcast Is Episode Number 0178 And It Will Be About Are You Trying to Find a Bookkeeper for Your Contractor Company? Construction Contractors Have Experienced The Worst Economic Times In The Past 100 Years And Now That You Are Getting Busy You Cannot Find A Decent Reliable Bookkeeper Four Things Contractors Are Saying About Bookkeepers: #1 I've been trying to hire a bookkeeper for my contracting company for a while and none of them are worth a darn! #2 I Tell Them "Your Job Is Make QuickBooks Give Me Reports I Need To Make Informed Business Decisions!" #3 I've hired four of them in the past few years and none of them have a clue about what I do as a contractor! #4 I am getting ready to hire bookkeeper number five, and I just can't take it anymore, and I am near meltdown! The Next Set Of Problems Is Related To Cash Flow #1 Now I am way behind on Invoicing for the work we have done, and I am having a hard time collecting the money. #2 I want to grow my company, do the stuff I am good at and see the money come rolling into my bank account. #3 I want a few days off to spend with friends and  family without having to constantly think about the business! #4 Is there any hope for a brighter future and will I be part of the American Dream, is that too much to ask? If This Describes You And Your Situation Let Me Share A Randalism "If You Know The Answers The Questions Will Not Bother You" In school when you sat for an exam or a test, and you knew the material forward, and backward it was fast and easy. The exams and tests for the classes you struggled with were the opposite. Having a Business Process Management Plan provided you with the answers to the questions about how to run your business because it is something you developed. Not something someone else did and handed to you. Click Here For Contractors Bookkeeper Hiring Guide The Answer Is Get A Professional Construction Bookkeeper With These Traits ·  Someone who has invested the minimum of 10,000 hours that it takes to master construction accounting ·  Someone who continues learning, practicing and growing their knowledge and skills ·  Someone who arrives to work on time and leaves work on time ·  Someone who cheerfully greets your customers and clients with a smile ·  Someone who understands their job description is serving you and your customers ·  Someone who cares about you as a person ·  Someone who cares about your company ·  Someone who cares about your staff ·  Someone who cares about your suppliers ·  Someone who is a cheerful, thinking, responsible adult not a drama King or Queen ·  Someone who focuses 100% of their attention on their job while at work ·  Someone who leaves home issues at home and work issues at work ·  Someone who continually adds new skill sets because they take pride in their work ·  Someone who embraces processes and procedures that allow everyone to succeed ·  Someone who consistently produces useful, reliable reports ·  Someone who takes a lunch break away from the office to recharge their minds and bodies ·  Someone who takes reasonable breaks during the day to clear their mind ·  Someone who is a team player and works hard to maintain the integrity of your QuickBooks What Is Required To Find And Keep A Professional Construction Bookkeeper? ·  A living wage with benefits ·  Air Conditioning in the summer and heat in the winter ·  Company paid training to continually update their skill sets ·  Do not expect them to ANSWER THE PHONE ·  Good lighting in their office and the building in general ·  Kitchenette with free beverages, snacks, frozen foods, and a microwave ·  Library of online knowledge base available only to qualified Bookkeepers ·  Lots of room to spread out paper and assorted files ·  Private office with a door so they can work in quiet and think ·  Provide them with 24-7 technical English-speaking U.S. based phone support ·  The latest in computer hardware and software with lots of power ·  Two large flat screen dual monitors with DVI inputs and high resolution ·  Buy books from the following authors, read them several times and implement as much as possible: Deming’s 14 points Covey’s 7 Habits Good To Great It will not be easy or quick because nothing that is worthwhile or lasting ever is which is why success pays so well. I have a lot of resources that can help you along the way on you journey Click Here. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Contractors_Success_Map_Are_You_Trying_to_Find_a_Bookkeeper_for_Your_Contractor_Company

This Podcast Is Episode Number 0177 And It Will Be About Pain Free Lien Waivers For Contractors, Lenders And Title Companies Geoff Arnold, Luis Trejo And Sean Richardson were interviewed for the Contractors Success M.A.P. Podcast, and were very generous with their time and provided some extremely valuable insights for how you can streamline your lien waiver process. The article below is a recap of how it all works. Tell us about your background and how you came to be where you are now. In January 2016, Geoff Arnold, Luis Trejo and Sean Richardson started lienwaivers.io with the simple vision of creating a better way for all parties involved in a construction project to collaborate in the disbursement process. With their combined background in construction, finance, technology and product marketing, the team is uniquely suited to solve this problem. Their solution is a simple, intuitive, cloud­-based platform that integrates directly with common construction accounting software without requiring users to re­-enter data. In February 2016, lienwaivers.io launched a private beta of their platform with a handful of Midwestern lenders and builders, with great success.  The team is now expanding their lien waiver exchange platform into a full­-featured automated disbursement platform, complete with payments, project budgeting and approval chains. What are some differences between you and your competitors? While there are a number of construction accounting and project management packages that support lien waiver functionality, lienwaivers.io is the first to integrate with common construction accounting softwares to generate lien waivers in bulk, at an economical price point. We launched with our first customer in 7 minutes, generating and distributing 36 lien waivers in seconds. What problem or issue does your product or service solve? A lien waiver is a legal document from a contractor, subcontractor, supplier, equipment lessor or other party to the construction project stating they have received payment and waive any future lien rights to the property. Lien waivers are exchanged anytime a payment is made. Once lien waivers are signed and executed they are distributed to clients, title companies, banks or other financiers for downstream processing. Currently the lien waiver process is manual, often paper­-based, and leaves valuable data locked away in unstructured documents. A single missing lien waiver can introduce lien risk to a project, delay bank draws, and have adverse effects on future financing. It’s a risk and compliance nightmare, begging for a technology solution ­­ which is lienwaivers.io What are three things a contractor should consider when hiring your services? ■  Do you make payments to your subcontractors / suppliers / lessors with an accounting software such as QuickBooks? ■  Does your lender or the owner of the property require lien waivers? ■  Are you spending multiple hours creating, sending and tracking lien waivers? How can you tell if someone is a good fit for your company? ■  Making payments to vendors (examples of this are general contractors, banks, and/or title companies) ■  Spending multiple hours creating, sending and tracking numerous lien waivers every month ■  Open to adopting new, time­saving technology to improve current inefficient processes ■  Using a construction accounting system such as QuickBooks to make payments What types of advice do you give a contractor? Many contractors are hyper focused on building quality homes/buildings, providing superior customer service and controlling cash flow, as they should be. Sometimes there are elements in business that don’t provide a lot of visible value but are protecting your company in the background. Lien risk is one of those elements. Every time a payment is made and a lien waiver isn’t returned in exchange, lien risk is introduced. This can create legal liabilities throughout the project. It is not uncommon for contractors to only send selective lien waivers or avoid them all together due to the large amount of time it takes to create, send, and track them. lienwaivers.io makes the process of protecting your company from lien risk easy by seamlessly integrating with your accounting system. In closing, tell the listeners how they can contact you Email: [email protected] Website: lienwaivers.io Twitter: https://twitter.com/lienwaivers Facebook: https://www.facebook.com/lienwaiversio/ LinkedIn Page: https://www.linkedin.com/company/10554315   Geoff Arnold, CEO   Geoff is a fintech and adtech veteran with 15+ years of professional software engineering experience. Geoff wrote and sold his first piece of commercial software at the age of 15. Geoff is an alum of Intent Media, a venture­backed startup in NYC, where he helped grow a team of 7 to 150+ worldwide, and led a team of 53 software engineers as VP, Technology.   Luis Trejo, CRO   Luis is a CPA with 12+ years in the finance, tax and accounting world. Luis previously managed the financial direction of a large regional construction company. Most recently Luis led a social media marketing startup through acquisition as their finance chief.   Sean Richardson, CPO Sean is a product and marketing guru with a passion for startups. Sean cofounded and led product development for Pushlee, a mobile retargeting platform for the $482B US gas station and convenience store industry. Pushlee was nominated for New Startup of the Year for the Silicon Prairie Awards in 2014. He is the founder of the Base 3 entrepreneurial conference and President of the Startup Sioux City board.      

This Podcast Is Episode Number 0176 And It Will Be About How Paper Invoices Are Bad For Your Construction Company Cash Flow By Anastasia Harold - Coolfront Affiliate Manager - Western Region You might be afraid to “go mobile” and ditch your paper work orders. I’m here to tell you there’s nothing to fear. In fact, it’s the paper invoices you should be afraid of. Here're the top ways that paper invoices are hurting your business: #1 They Get Lost Paperwork gets lost. Price Waterhouse Coopers (PWC) estimates finding one piece of paperwork can cost a company about $122. That could be your profit from an entire service call! PWC also estimates 7.5% of paperwork is lost forever. That could be 7.5% of your revenue from unbilled invoices. Customers agree too - they would rather have it in their email inbox. That’s one less receipt to keep track of. Storing your invoices digitally, or in the cloud, is the best way to eliminate lost paperwork and keep more information stored forever.   It's also estimated that 20% of an employee’s time is spent looking for paperwork. As a bonus, digital copies are searchable by customer’s name or date, and can be accessed almost anywhere when needed. #2 They're Messy Handwritten paper invoices never look pretty. Chances are, your handwriting doesn’t hold a candle to “Times New Roman” or “Arial.” It’s hard to project a professional appearance with misspellings and worse, illegible writing. Electronic invoices get the benefits of spell check and a clean appearance. #3 And Even More... They have to be ordered, so you’re likely to run out when it get’s busy. They’re expensive, especially if you make mistakes or have to mail them out. And to top it off, they’re bad for the environment. Not Convinced? Try Mobile Invoicing For Yourself! Coolfront provides a zero-cost solution to help you eliminate paperwork, stay organized and make more money. Get 50 free invoices with no obligation courtesy of Fast Easy Accounting by going to www.coolfront.com/fasteasyaccounting I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,How_Paper_Invoices_Are_Bad_For_Your_Construction_Company_Cash_Flow

This Podcast Is Episode Number 0175 And It Will Be About Why Construction Accountant Is The Best Bookkeeper For Your Construction Company Experts Have Increased Knowledge And Skills. This is true whether you are talking about general bookkeeping, tax accountants, your mechanic, your doctor or other business professionals. “You’re Just the Bookkeeper” Yes in its most simple term – I’m just the bookkeeper. Of course, my clients look at it a little differently when we talk about the details of their business. What they do, how they do it, when do they bill, do they collect a job deposits.  If and when they should take payroll for themselves and how much should they take. And all of the “What About” questions that can come up – I’m an Ear – I’m a Resource! The list can go on for hours as I chat on the phone with existing clients, new clients from weekend warriors to brand new contractors to those who have been it the trades forever. Between all of the paperwork, taxes, and forms; bookkeeping is more complex than a person realizes. Bookkeeping is more than balancing the checkbook.  Do you have a “Hobby” instead of a “Construction Business”? It’s a mindset followed by action.   Someone Can Be In Business For Yours Make A Reasonable Living And Still Treat Their Business As A Hobby A good clean set of books can help get financing at the bank, construction loans, bid bonds required for some projects, happy tax accountant who can easily do your tax return. A tax accountant is not going to bother you for missing expenses that should be there. Learn More. When someone who does not understand about bookkeeping in general or that construction bookkeeping is more difficult than saying “You’re Just The Bookkeeper” is not said in a complementary way.  Usually, that person is unable to Do-It-Themselves. My Car Has Mystery Noises. I hear this noise when I drive. It drives funny. There is nothing worse than your car driving perfect when you take it in. I always start with the firm that changes my oil, checks my gauges and fluids. I go to the tire shop if it seems to be tire or steering issues. Why because if it’s a low tire or an assortment of other issues I trust them to fix them. If it’s something simple, it’s while I wait. Lastly, I go to the mechanic. Plan my time and my budget because it usually a larger project taking longer than a day.  Additional decisions. Do I want to work from home, arrange transportation or plan a trip and add a little fun to the car rental because I know my mechanic can find and fix the problem. They will always tell me if the issue is Urgent and Important including something needs to be fixed Soon, or lastly it’s just an annoying noise due to the age of the vehicle, and I can wait a bit and plan the repair or ignore it. Same thing applies with your Doctor. You may be one of the people who doesn't go to the doctor unless “It Hurts”. Your Primary Doctor is usually a General Practice Doctor who is the first line of defense with your overall heath. Your Doctor knows how to fix a “zillion” little aches and pains. When it’s something more serious, your Doctor is going to run tests and call in a specialist to review the tests and give a solution to the problem. There are several web-based Accounting programs focused solely on balancing your checkbook, sending, an invoice, and linking to your favorite app. Is this the best option for construction contractors? Our Answer Is NO! Why? Because we are the Construction Accounting Specialists which means we understand what you do and your construction accounting needs. From Job Costing Reports to Invoices to Job Deposits, Retention Tracking and more. We are located in Washington State, one of the few states in the USA with destination sales tax. This means Contractors here have major issues with Invoicing and customer payments. Every state in the USA is slightly different on how they collect taxes and their definition for “What Is Taxable.” Common Complaints Contractors Have About Bookkeeping Is “I Can’t Get Good Reports” The best partner / wife / bookkeeper in the world cannot do proper accounting without good tools. This includes a properly setup accounting system, knowing what to do once they open the program and not receiving the paperwork because it is all in the head of the contractor no wonder you cannot get good reports! Get the proper person for the job. Not every partner / wife / wants to do the bookkeeping for the business. In every small business, there is a “Zillion Jobs To Be Done” Everyone is a valuable partner At Fast Easy Accounting We Have A Process Because Nobody Likes Surprises We email and chat on the phone about your business and your bookkeeping needs. We review existing QuickBooks Desktop or QuickBooks Online file before creating a custom quote. We try to Quote Flat Rate whenever possible. Your Contractor Bookkeeping Services Options: Setup QuickBooks Specifically For Your Contracting Company (Desktop Version) And Give It Back To You Cleanup / Enter Previous Transactions Provide Ongoing Contractor Bookkeeping Services Month-To-Month No Long Term Contracts Use Our Fast Easy Document Management System Basic Ongoing Support Included You Can Have Access To QuickBooks Desktop In The Cloud Payroll Optional Depending On Your Needs Year End Financial Reports created for Tax Accountant Hosting Your QuickBooks File On QuickBooks Desktop In The Cloud Having Your QuickBooks Setup or Cleaned Up Is Optional Ongoing Support Available For Additional Cost I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                 Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors,Why_Construction_Accountant_Is_The_Best_Bookkeeper_For_Your_Construction_Company

This Podcast Is Episode Number 0174 And It Will Be About  Four Simple Steps To Make Your Contracting Company Great Again What Separates Wealthy Contractors From Poor Contractors • It's not lack of opportunities to bid jobs or get leads because getting leads is easy • It's not lack of ambition because every contractor I know is strong and ready to get busy • It's not lack of intelligence or the ability to develop a production method and follow it to the end • It's not lack of money because if you follow my method you know how to overcome that, just use O.P.M. The Answers Are Simple, But Not Easy • Wealthy Contractors begin with the end in mind and knowing what to do • Wealthy Contractors know who they are and what they believe to be true • Wealthy Contractors know what type of Contracting they are good at doing • Wealthy Contractors know how to generate more leads than they can handle Do You Want To Know How They Found The Answers? Step #1 Begin With The End In Mind  "The Seven Habits of Highly Effective People." Everything is created twice. First in our minds, and when we do the work to bring them into physical existence. Take your power and take control of your ability to Be-Do-Have. You can re-write your own scripts and take control and responsibility for the outcome of your Construction Company by using your imagination and conscience. Three major aspects of personal and business management of your contracting company: 1. Leadership - what do you want to accomplish? 2. Management - how can you accomplish it? 3. Productivity - just decide to do it. Peter Drucker and Warren Bennis, "Management is doing things right; Leadership is doing the right things." Have a vision of what your Construction Company Money Machine will be when you are finishing building it. It will be like a deep, wide river running smooth and calm moving millions of gallons of water through lush green valleys where farmers and ranchers pump the fresh water into their crops and fields to feed their families for a lifetime and beyond. Your Construction Company Money Machine will be moving millions of dollars from customers and clients through lush green valleys where you will pump cash flow into your bank and investment accounts to feed your family for a lifetime and beyond. Step #2 Know Who You Are And What Your Believe To Be True Your Perception Is Your Reality And The Truth Is Four Levels Deep To get to the truth about your construction company, you must go on a journey. It is four levels deep and like most successes in life, it is simple but not easy. Level One - What contractors want to hear Level Two - What contractors want to believe Level Three - Everything else Level Four - Truth A Story To Illustrate The Four Levels What Contractors Want To Hear - One evening after work a group of contractors met at the Contractor Business Round Table, which is the neighborhood tavern with a round table, pitcher of beer and four contractors. They talked about how tough it is to get profitable jobs no matter what the economy is like. When times are good, it is hard to find employees, when times are tough the phone doesn't ring. Everyone agreed there was nothing anyone could do about it. What Contractors Want To Believe - A short while later they talked about making money and agreed that really big contractors make most of the money, and little contractors were doomed to struggle. Everything Else - One of the contractors suggested maybe they could ask one of the larger more profitable contractors and find out what they did that made the difference. This made the other contractors a bit uncomfortable. Then it happened, and they all heard and felt the dreaded Snap-Crackle-Pop! The contractor who suggested asking for help experienced a paradigm shift and broke through to the other side. This contractor began leveling up! Suddenly they all remembered what that The Contractors Accountant, Randal DeHart, had said about leveling up. "As you develop your Business Strategy your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different." Truth - Is whatever you believe, and you will look for evidence to support your truth. Part of my truth comes from some of the writings of Og Mandino: --------------------------------------------------------------------------------------- The Salesman’s Prayer Oh creator of all things help me for this day I go into the world naked and alone, and without your hand to guide me I will wander far from the path which leads to success and happiness. I ask not for garments or gold or even opportunities equal to my ability; instead guide me that I may acquire ability equal to my opportunities. You have taught the lion and eagle to hunt and prosper with teeth and claw. Teach me how to hunt with words and prosper with love so that I may be a lion among men and an eagle in the marketplace. Help me to remain humble through obstacles and failures yet hide not from mine eyes the prize that will come with victory. Assign me tasks to which other have failed, yet guide me to pluck the seeds of success from their failures. Confront me with fears that will temper my Spirit yet endow me with courage to laugh at my misgivings. Spare me sufficient days to reach my goals; yet help me to live this day as though it be my last. Guide me in my words that they may bear fruit; yet silence me from gossip that none be maligned. Discipline me in the habit of trying and trying again yet show me the way to make use of the Law of Averages. Favor me with alertness to recognize opportunity, yet endow me with patience which will concentrate my strength. Bathe me in good habits that the bad ones may drown; yet grant me compassion for weakness in others. Suffer me to know that all things shall pass; yet help me to count my blessings of today. Expose me to hate so it not be a stranger; yet fill my cup with love to turn strangers into friends. But all these things be only if thy will; I am a small and lonely grape clutching the vine, yet thou hast made me different from all others. Verily there must be a special place for me. Guide me, help me, show me the way to become all you planned for me when my seed was planted and selected by you to sprout in the vineyard of the world. Help this humble salesman, guide me God. --------------------------------------------------------------------------------------- Step #3 Know What Type Of Contracting You Are Good At Strengths, Weakness, Opportunities And Threats (S.W.O.T.) SWOT - Is one of the tools we use in strategic planning for construction companies to evaluate the Strengths, Weaknesses, Opportunities, and Threats involved in determining the particular target market. Strengths - Are construction projects that your construction company does extremely well at and earns a greater than average gross margin than give it an advantage over other contractors. What are they and how can your construction contracting company expand on them? Weaknesses - Are construction projects that your construction company does poorly at and breaks even or loses money. What are they and how can your construction contracting company turn them into strengths? Opportunities - Are construction projects and markets not currently being served where it is possible for your construction company to enter and turn them into strengths? Threats - Elements outside your construction company that could cause trouble for you or your construction projects. What are they and how can your construction contracting company turn them into opportunities? "So it is said that if you know your enemies and know yourself, you can win a hundred battles without a single loss. If you only know yourself, but not your opponent, you may win or may lose. If you know neither yourself nor your enemy, you will always endanger yourself." The Art of War by Sun Tzu There Is A Lot More that I would like to share with you about using SWOT to help your construction company increase sales, profit, and cash flow by redirecting the time, money, energy and resources from the bottom 80% of your current customer's clients and jobs to the top 20%. Please feel free to contact Sharie for more information.   Step #4 How To Generate More Leads Than You Can Handle You can easily generate more leads than you can handle because in the previous three steps you laid the foundation by having a vision for what your Construction Company will be when you finish building it, you know who you are, and you know who is your Prime Client. Marketing Is A Science Not An Art A lot of Contractors are having trouble adapting to the new economy. I Have Made More Mistakes – than ten of the average contractors put together. I’ve learned a great deal of hard, hard lessons and worked my way through a number of “Character Building Moments.” So what I am about to ask you to do is something I have done for many years during my contracting days, and it still works. Let’s Run The Numbers Starting With The Cost To Acquire A Customer Step #1 – Generate a Profit & Loss Report from the previous two years and isolate total income. (Note: All companies are only two years old regardless how long they have been in business because what happened more than two years ago doesn’t matter when developing a financial forecast.) Step #2 – How Much Money Did You Invest In Marketing? Not investing money in marketing is like winking at a pretty girl or guy in the dark, you know you are doing it, but they don’t. Relying on word of mouth means being in a race for the championship of low price leaders! Step #3 – How many new customers or clients did you acquire during the past two years? Step #4 – Divide Total Income from step #1 by the number of customers or clients in step #3 and you will have a rough idea of your sales per customer. Step #5 – Divide The Amount Of Money You Invested In Marketing by the number of customers or clients in step #3. Just know that 80% of marketing is done to keep current customers and only 20% is designed to attract new ones. I have studied marketing extensively and will offer this one hint. Why do you suppose the car manufacturers invest so much money advertising their products when most people continue to purchase similar makes and models over and over? Step #6 – Multiply The Net Profit Percentage shown on your Profit & Loss by the sales per customer in step #4 to generate a rough idea of the net worth of a customer to your Contracting Company. This is one of the numbers that becomes very important if you ever want to sell your Contracting Company. Step #7 – Customer Gross Profit in step #6 minus marketing cost in step #5 = Customer Net Profit. Step #8 – Where MR > MC When the Marginal Revenue greater than the Marginal Cost and risk is manageable do the deal. MR>MC is a long discussion for more on it click here Step #9 – Where is Break-Even or how far can I go before it is time to quit doing it? Step #10– When You Know How Much A Client Is Worth you will know how much you can invest to acquire a new one and as many new ones as you want. Step #11– Keep Your Existing Clients Happy and continue offering new products and services to them. The number one profit maximizer is Service Agreements, click here for more. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                         Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_Four_Simple_Steps_To_Make_Your_Contracting_Company_Great_Again

This Podcast Is Episode Number 0173 And It Will Be About You Have Employees Now What? You started your Construction Company, Handyman Business, House Builder, Specialty Contractor or another form of contracting because you wanted to be your own boss, make a lot of money and enjoy some personal freedom. Then You Hired A Construction Worker And Something Went Horribly Wrong!      Welcome To The World Where You Are The B.O.S.S. (Bad Old Sorry Sucker) Most construction workers are good decent people who enjoy working with their hands making, building, repairing, remodeling and fixing homes and commercial buildings.  Good construction workers will not tolerate chaos or unfair labor practices. They will try out a lot of contractors until they find a contractor with a system. Preferably with documented processes and procedures. Good Construction Workers Have These Five Traits In Common: #1 High Self Esteem #2 Strong Work Ethic #3 Always Learning #4 Loyal To Family And Friends #5 Law Abiding Citizen Know The Fully Burdened Cost Of A Construction Worker Fully Burdened Construction Worker Cost - Simply means what it will cost you to hire someone including the company portion of the payroll taxes.   Considering The Cost Of Construction Worker on your payroll including taxes and overhead will be 1.3 to 2.0 times the hourly salary you are paying them is why labor is your most expensive cost in running a construction company. Hire Slow And Fire Quick! If You Think You Should Fire Someone You're Already 15 Minutes Too Late! Three Must Haves When Screening Applications: #1 Ask them to fill out an application in person and give them a pen with blue ink. You can learn a lot about a person including if they follow directions. Their handwriting, spelling, and grammar speak for itself. Make certain the application clearly states you have the right to run a background check, and you will ask for a drug test before considering them eligible for hire. #2 Subscribe to a service that will run a background check including as much detail as possible #3 Ask them to get a copy of their driving record. This is huge! If there are any DUI, Reckless Driving or other serious offenses perhaps it would be best to pass on them. If they are not respectful or men and women, who carry guns and are licensed to kill, law enforcement officers they will not show you, your other employees or your customers and clients any respect. Probationary Period Offer Probationary Period 30 days Or More. Most people will get comfortable and show who they are within 30 days. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                                       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_Hey_Contractor_You_Have_Employees_Now_What

This Podcast Is Episode Number 0172 And It Will Be About QuickBooks Financials Do Not Match Your Contracting Company Tax Return  All Accounting Is Not Created Equal. Have you ever compared your QuickBooks Profit & Loss Report to your annual Income Tax Return and scratched your head trying to figure out why the numbers are so different? If you have, you are not alone because there are two different types of Accounting, and they serve two different purposes.   Tax Accounting Vs. Management Accounting  Tax Accounting Is external; its purpose is reporting income, preparing tax forms and making certain you pay your fair share of taxes and perhaps a little extra. For example Quarterly Tax Reporting, annual tax returns, state, county, city and local business and occupation taxes and sales tax reporting. Tax Accountants Are good people, and they have their place in the accounting world. Regular accounting, bookkeeping and contractors bookkeeping and accounting are not something they should be doing. No different than Professional Bookkeepers and construction accountants should not be preparing annual tax returns. Your QuickBooks File And The IRS - Is something you should be aware of and how important it is more than ever to have everything in your QuickBooks clean and up to date. Read More.. Tax Accounting Is important and so is the tail on a dog! Just understand the tail does not wag the dog! It is important that you understand tax accounting has very little to do with helping you run your business and everything to with paying taxes and keeping the tax preparer's boss, the government happy! Construction Management Accounting Is internal; its purpose is to help you operate and grow your construction business profitably. For example The Five Key Performance Indicators, Cash Reports, Receivables, Payables, Profit and Loss, Balance Sheet, Job Costing, Job Profitability Analysis. Business Process Management For Contractors Includes: · The 80/20 Rule For Construction · M.A.P, · Marketing · Accounting · Production · Sales · Invoicing · Payroll When to grow the business, what markets to serve, when to hire more people, loans, lines of credit, bonds, performance bonds, insurance cost savings, business planning and your overall construction company business strategy. Contractors Bookkeeping And Accounting Is completely different from standard accounting systems primarily because contractors take their entire business inside trucks and vans to people's homes and businesses to perform services, deliver and install products. Standard accounting when people go to the businesses to shop and buy products and services.   Construction Accounting Is a specialty similar to the difference between a family doctor and a brain surgeon Read More. Construction accounting cannot be learned; it has to be understood. To become a construction accountant, you must spend years working on construction sites to understand the industry and then with a foundation in standard accounting you can understand it. If You Allow Your Accounting To be dictated by the whims and wishes of the tax accountant you could be losing a lot of money! Because the entire Chart of Accounts will be structured in a way that makes it easier and quicker for them to prepare the tax report one day a year. Because saving you money on your tax bill is not what they are paid to do; they are paid to fill out tax returns. We Have Fixed Hundreds of QuickBooks files that were "setup" by tax accountants. Our Contractor clients say they are amazed and very happy because they can get the reports they need to operate and grow their construction businesses and we make it easy for the tax accountant to fill out the annual tax return and get more deductions, so you pay fewer taxes. We can help you too, simply fill out the form on the right or call us 206-361-3950 or email [email protected] to get started! We Do Not Prepare Annual Tax Returns For two reasons. Number one, we are focused on maintaining our status as the premier contractors bookkeeping and accounting specialists in the world. Number two we firmly believe in "Trust But Verify" by having a Board of Advisors watching over each other and your business. Please Don't Think We Are Hard on tax accountants please understand that we have great relationships with a lot of tax accountants. In fact, we have tax accountants review our QuickBooks and prepare our business and personal returns for over thirty years, and we refer a lot of business to a variety of tax accountants. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations                                             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_QuickBooks_Financials_Do_Not_Match_Your_Contracting_Company_Tax_

This Podcast Is Episode Number 0171 And It Will Be About Business Consultants Scamming Contractors As the economy is improving in mid-2016, we are seeing a disturbing trend of Business Consultants asking Contractors to make them a part owner of their Construction Companies in exchange for their services. I had seen this nightmare come to life several times beginning in the 1970's when I started my Construction Company. It usually happens just as the economy starts to improve and demand for construction services is far greater than the supply of Contractors to fill the need. There are a lot of seminars being put on by less than honest people promoting Get-Rich-Quick-Schemes for Business Consultants to take advantage of honest hard working contractors! There Are Several Parts To This Scam: They Make You Think They Know More About Running Your Business Than You Do They Want You To Pay For A Life Insurance Policy Naming Them Beneficiary They Have A Network Of People Who Need Work Done At Low Rates And Provide Kick-Backs They Slowly Get Control Of Your Construction Company And Work You To Death LITERALLY! Please do not misunderstand, most Business Consultants are good solid, decent hard working, honest people just like you and me. The ones you want to watch out for are the "Pirates And Thieves". I will not say what I think, but you can figure it out for yourself. Plumbing Contractor Who Almost Got Scammed In 1995, a Plumbing Contractor in the Seattle area had a decent sized business with seven trucks and over twenty employees and earning a very comfortable living. He and his wife were not the smartest people on earth, but they were not stupid either. One Fine Sunny Day A Couple Of Slick Salesmen Came To Thier Office With A Plan That Would Make Them RICH MILLIONAIRES Beyond Thier Wildest Dreams! Their grand plan was to get paid $7,000 per month each, plus expenses and they would take over the day-to-day operations and install their people to answer the phones and dispatch the plumbers to the service calls. And they wanted the owners to take out a Life Insurance Policy for $500,000 naming the salesmen as beneficiaries in case something happened the Plumbing Company could keep on running. They guaranteed to generate so much money that their costs would be minor in comparison to all the new money coming in because they knew everything about how a construction company should be run. To prove it they wanted to put on a uniform and act like plumbers and show the real plumbers how to increase every dispatch by offering to do more work on each service call. It is good business practice for a professional technician to survey everything and perform a proper diagnosis before prescribing a solution. If you take you car for a tune-up, and the mechanic noticed the hoses and belts are worn out it is prudent for them to let you know about it and then let you decide to have it fixed or not. In this case, the two "Salesmen" were only interested in selling as much as possible without any regard for the customer. When I was brought it to review the opportunity for the owners of the firm I ran some "What If Scenarios" using the reports from their accounting system and Excel and determined how much the new "Salesmen" would have to generate to cover their cost. It turns out the Plumbing Company would have to double their annual sales which would bring a whole lot more headaches because of the principles involved in Expansion Isoquants. When a business grows too fast, it runs the risk of running out of cash, and the internal systems may not be capable of handling the growth. The biggest obstacle is not understanding The People That Got You Where You Are Cannot Take You Where You Are Going! They sent the "Salesmen" down the road and continued operating a moderately successful Plumbing Company for many years to come. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations       Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_Beware_Of_Business_Consultants_Scamming_Contractors

This Podcast Is Episode Number 0170 And It Will Be About Ten Construction Tools You Can Fit in Your Pocket Today's Guest Article Is From Simon Worsfold A Copywriter At TSheets There are some tools that apps will never replace. Hammers for example. But smartphones are making lighter work for many in construction and the industry has definitely switched on to their potential. According to at least two recent surveys, one by On Center and the other by JBKnowledge, four out of five construction workers are now using apps on the job site. From punch lists to project management, there’s a huge range of construction apps out there now and to help you choose the best of them, TSheets has recently announced a new “Top Ten Construction Apps” awards. For A Tsheets 14 Day Free Trial Go To https://www.fasteasyaccounting.com/tsheets The winners fall into ten categories: Safety, Estimates & Bids, Measurements, Time Tracking, Photo Annotation, Task Management, Blueprints, Project Management, Reporting, and Communication. There’s also a Virtual Toolbox category with recommendations for a high-exposure safety app called Fall Safety as well as practical tools for roofing and carpentry. But the big winners in the awards are apps that specialize in calculating and sharing critical information such as measurements, blueprints, and reports, and many of them are either free or have free trial versions that give you a chance to try them out yourself. Interested in adding some new apps to your toolbelt? Head over to TSheets’ website now to find out who won. Save Time and Money on the Job Site The experts have weighed in, the reviews have been tallied, and your peers in the field have cast their votes. These are the top 10 apps for the construction industry in 2016—able to accomplish everything from bidding to time tracking to calculations and measurements for contractors and mobile workers. How can these apps improve your business? Keep reading below to learn what makes each of these construction apps #1 in their area of specialty, and how they can revolutionize communication, collaboration, and profitability for you and your crew. Read customer reviews, pros and cons, business benefits, and more. This is technology that will help you do your job—not replace it. The future of construction is bright for contractors and crews with their feet on the ground and these best-of-breed apps in hand. ___________________________________________________________________ Best App for Safety SafeSite What if you could save lives and save paper at the same time? With SafeSite, you can. The app was developed by construction professionals, for construction professionals and aims to decrease the number of workplace injuries while increasing productivity, reducing paperwork, and keeping everything organized in one handy app. SafeSite is a digital solution that allows field workers to upload checklists, conduct safety inspections, and export completed forms with accuracy and speed—all while ensuring compliance. Using the mobile app, you can log safety hazards and observations on the spot and automatically notify responsible parties for a solution. Safesite will track and log the progress of each resolution along the way. Features ·    Report safety hazards on the spot, then assign follow-up actions and deadlines ·    Create custom inspections, checklists, and forms ·    Share reports and from the field instantly to internal and external parties—saving time and paper! ·    Generate daily and weekly automated safety reports for effortless compliance ·    Upload pictures to communicate quickly and effectively with everyone involved—no matter when or where ·    Create plant and equipment profiles, and complete scheduled inspections against them ___________________________________________________________________ Best App For Estimates And Bids Job Flex Being able to quickly and easily create estimates for customers using an estimating app is critical. The difference between gaining a new client and losing a potential job often hinges on how quickly and professionally you can turn that estimate around. With JobFLEX, there's no tech savvy needed. Deliver estimates on the spot, with or without a cellular connection. Create and edit customizable forms, then just drag and drop line item costs, materials, and photos. When you're finished, preview, email or print the estimate with one tap. Features ·    Create estimates with or without Wi-Fi/a cell signal ·    Easily build editable materials list ·    Include photos in estimates for reference and a professional touch ·    Use customizable formats for each estimate ·    Preview, email, or print estimates with just a tap ·    Get access to free, unlimited support ___________________________________________________________________ Best App For Calculations And Measurement Construction Master Pro The fewer things you have to carry with you on the job, or when scoping out a new bid, the better. So why carry an extra calculator when you could just bring your phone? Whether you're laying stairs, determining how much drywall you need, or completing the right angle calculations when framing a roof, CM Pro is an intuitive, comprehensive alternative to a handheld construction calculator. Features ·    Created by Calculated, Inc., the standard in handheld construction calculators ·    Calculate dimensional math and conversions ·    Includes right-angle tools, compound miters, and costs per unit ·    Use customizable formats for each estimate ·    Easily convert between all standard measuring formats ·    Includes a trigonometry mode ·    User guides in both Spanish and English ___________________________________________________________________ Best App For Time Tracking And Scheduling TSheets One of the most daunting (and time-consuming) aspects of running a construction company is staying on top of back-office tasks, like scheduling and payroll. Tracking your employees' hours and building a schedule in the cloud with TSheets—instead of old school with spreadsheets or paper—will save you time, money, and sanity. TSheets' intuitive, easy-to-use app allows your employees to track their time right from their phones—or you can choose to clock in an entire crew at once, with the handy Crew App feature. From the administrator's dashboard, you'll also see where crew members are in real time through gps and and the Who's Working view. Features ·    Stay in the loop with notifications sent if employees don't clock into a job as scheduled, or approach overtime limits ·    Save 2-8% on gross payroll costs, and eliminate manual time entry ·    Improves employee accountability and accuracy of hours ·    Features In-app scheduling so employees can easily clock in and out of assigned jobs ·    Works as a viable alternative to geofencing, with GPS tracking ·    Mobile management options for workers on the go or at multiple job sites ___________________________________________________________________ Best App For Photo Annotation Photo Measures Photo Measures is an innovative app that enables anyone from construction contractors to homeowners to record, save, and share measurements and dimensions—by directly annotating their own photos. Say sayonara to napkin sketches and illegible numbers, Photo Measures makes it easy to see and remember the exact measurements—any time, any place—no matter who took them. Never wonder, "Will this fit?" or "How much paint do we need?" again. Features ·    Zoom in and out for greater precision ·    Easily edit measurements and add comments ·    Export high resolution photos to email or save in your photo library ·    Take photos on the spot or import photos from your phone (any size will work!) ·    Organize recorded photos into folders directly from the app ·    Record unlimited measurements on unlimited photos ___________________________________________________________________ Best App For Task Management Fieldwire There are plenty of task management apps out there—in fact, sorting through all of them can be a day's work in and of itself. But Fieldwire is a task management app made specifically for the construction industry is another matter. Fieldwire is a task management app built by construction professionals, for construction professionals, and lets project leaders, foremen, and superintendents delegate jobs and tasks quickly and easily, whether they're out in the field or back in the office. Create tasks tied to blueprints, job sites, or projects, and categorize tasks by job type (such as carpentry or electrical). You can also specify a deadline, priority level, related tasks, manpower, a checklist, photos, plus any notes you want to add. Features ·    Create punch lists right on your drawings and blueprints to put tasks in context. ·    Alert workers of assigned jobs by email or app message. ·    See instantly which tasks are complete or overdue. ·    Navigate quickly through your task lists by location or priority. ·    Add detail to your tasks by uploading photos, PDFs, and other attachments ·    Create daily reports to highlight progress and any outstanding jobs. ·    Share up-to-date technical drawings with whoever needs them. ___________________________________________________________________ Best App For Construction Plans And Blueprints PlanGrid No more bulky paper copies to search through or costly reprints to run. No more emergencies when spilled coffee or illegible writing mean backtracking and guesswork. With PlanGrid, you get a portable blueprint creation tool and library that puts all your technical drawings right in your pocket. Designed for construction managers, architects, engineers, contractors, and home builders, PlanGrid keeps everyone on your project on the same page by syncing a master set of drawings, notes, and photos to your phone, tablet, or computer. Features ·    Take all your blueprints with you wherever you go. ·    Share plans, drawings, and notes instantly with whoever needs them. ·    Add personal or public notes straight onto your plans. ·    Make and send requests for information (RFIs) on any project. ___________________________________________________________________ Best App For Project Management Co-Construct Ever wish you had an extra project manager on site to help you evaluate, bid out, and complete a project? Now you have one in your pocket. Co-Construct is a project management tool for home builders and remodelers that stores all the information you need to build or remodel a home. The app can be used at every stage of a project's lifecycle, from the initial bidding process through to completion and beyond. Use it to create project estimates and proposals, invite and manage bids from subcontractors, store all your plans and specifications, track project costs, schedule and manage jobs on the worksite, create and manage change orders, update your accounting data, and manage punch list items on completed projects that are still under warranty. Features ·    Reduces paperwork at every stage of your project: from proposal to completion. ·    Improves communication with your clients and subcontractors. ·    Includes bid management, cost management, and labor management tools. ·    Syncs with QuickBooks to create invoices and cost forecasts. ·    Allows you to manage all your projects from a single dashboard. ___________________________________________________________________ Best App For Reporting Raken Reports should help you analyze, streamline, document, and identify problems in your construction business—not slow it down. Raken is a daily reporting tool for construction managers, superintendents, and foremen that speeds up the reporting process when filing incident reports, work logs, and to-do lists—and it can all be done right from the job site. Simply type your reports straight into your phone or tablet or let the app do it for you by recording voice memos for the app to transcribe. When your report is complete, the app will create a signed PDF with all your notes and photos on it which you can share with whoever needs it Features ·    Create daily, time-stamped work reports out in the field. ·    Type reports, or record voice memos for the app to transcribe ·    Record climatic information and any time lost to bad weather. ·    Attach photos, videos, and audio files to any notes you make. ·    Create an instant PDF copy of your report to share by email. ___________________________________________________________________ Best App For Communication BuilderTREND Keeping everyone on the same page and in the know is hard. But streamlined, effective, real-time communication means fewer errors, a better experience for your employees and customers and a better reputation. BuilderTREND was created especially for the construction workspace to connect everyone involved in a project (from the builder, to the contractor, to the customer) with every single detail—every step of the way. It features automatic updates and real-time notifications that allow builders to manage projects, collaborate, and communicate with subcontractors, vendors, project managers, and customers. Features ·    Easily document and share job logs from the field—record notes using voice to text (or your keyboard), and add a progress photo each step of the way ·    Assign to-do items to yourself, your workers, or your associates ·    Share and annotate photos and blueprints right from the job site ·    Use in-app messaging (fast, easy, and organized) to communicate quickly; search by topic, leave a comment, and restrict who can (or can't) see your response ·    Coordinate with subcontractors and trade partners—send big requests and purchase orders straight from your mobile device ·    Track and accept online payments ___________________________________________________________________   About The Author: Simon Worsfold is a copywriter at TSheets, a top-rated time tracking app that helps hundreds of thousands of employees to track their time simply and accurately every day. Originally from Surrey in south east England, Simon now lives and works in Boise, Idaho.   Simon Worsfold Copywriter  |  888.836.2720 TSheets.com | 923 S. Bridgeway Place | Eagle, ID 8361 ___________________________________________________________________ I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0169 And It Will Be About Secrets Of Successful Handyman Contractors Why do some Handyman Contractors make a good living and have a solid income while the majority are struggling with cash flow, profit, and dealing with the same daily tasks until they retire or die of old age and a worn out body? Here are ten secrets you can use to make more money. 1. Vision For Where Your Handyman Company Is Going Your inner world shows you exactly where your outer world is heading. Daydream and ask yourself "What if.." It’s fun and easy and very profitable. Interview yourself about where your Handyman Company is going. Have a conversation with yourself and record it on paper, computer, audio recorder or whatever works for you. To begin with go wild and wooly, no judging, no censoring, just let your thoughts flow and record it all. The first step to deep analytical thinking and decision making is letting loose then sifting through to find the nuggets of wisdom. Sleep on it, review it the next morning for a few minutes before you get involved in your daily routine, make notes, take stuff out and put new stuff in and repeat this process every day until you have settled on your truth about what you want. It will take time because The Truth Is Four Levels Deep and there is no short cut.   2. Vision For Leadership Lead, follow or get out of the way and go work for somebody else. You went into business for yourself because you have the heart of a leader, you want to control your destiny, and you decide how much you are worth, not somebody else! Employees crave leaders with confidence and passion. "The Goal Is In Stone; The Plan Is In Sand." You will be wrong most of the time; however, your inner strength and grit will make you respond to changing circumstances rather than react to them. You will develop and implement as many plans as it takes to accomplish your goals. Suppliers, vendors, and service providers respect leaders who have a vision and power through every obstacle to achieve victory because they need high-profit successful Handyman Companies to buy their products and services. They will support you in ways you cannot even imagine because it is in their best interest. Decide how you want to lead, how you want to be respected and the work culture you want to create and refuse to put up with anyone who does not support you! See my chat on "Leveling Up Makes Contractors Wealthy." 3. Training And Education Make training and education as important as breathing. Every Monday morning has a safety meeting and 5-minute training session on a new tool, process or procedure. Most tool and material suppliers will send someone to your shop meeting, bring snacks and present their latest tool, product, and service and answer questions about how it used and they do it for FREE! If you want to step it up and grow, your cash flow and profits assign everyone a to prepare a 5-minute presentation about something new they learned recently. Some employees will be reluctant at first to participate because they will be stepping out of their comfort zone, too bad! Everyone is either "Green and Growing or Ripe and Rotting". Like attracts like, so if you want a high performing team replace weak people with strong people and watch your bank balance go up! Sounds harsh doesn't it? You know what's harsh? Having an adult day care center where you pay people to show up and be entertained, babysat, and coddled while they drain your energy, resources, and most important your money. The #1 cause of business failure is running out of money. Do you think weak people will help you rebuild? Not likely! 4. Cross-Train Builds "Bench Strength." Every employee has strengths and weaknesses. Find out who has what and let the people who are strong in certain areas train everyone else to have enough skill to step in and help when needed because a more diverse workforce means easier scheduling. Having and having more than one worker who can patch a hole in the drywall, replace a door, do some minor plumbing, electrical and HVAC work the better chance your productivity will stay strong and profitable. 5. Project Status Reports And Goals Put a white dry erase board where everyone can see it. Assign someone to write the name of each project, budgeted time, and material to complete it and record the results and remove finished projects over ten days old. Whatever makes the most sense for your Handyman Company and workers because setting targets inspires winners. 6. Laughter Is The Best Medicine Sound crazy? Trust me, the most successful contractors, of any size, that I’ve witnessed up close and personal enjoyed people, celebrated successes and laughed a lot. The people at these organizations, from the owner to the lowest-paid laborer, are just plain fun to hang out with. You can keep people a long time if they enjoy you, the company culture, and are allowed to laugh a little. 7. Urgency Not Emergency If everything inside your Handyman Company is disorganized and chaotic, you will wear out and lose good employees. Having a sense of urgency inspires and energizes workers. Creating a sense of urgency begins with you communicating with everyone exactly what you expect of them. Providing the best quality tools, equipment, and materials to do their job will show you mean business. 8. Performance Bonuses Consider Performance Bonuses for finishing a project under budget and tie it to a multiplier based on customer or client satisfaction survey. For Example: Labor Savings = $10 Per Hour Bonus | Material Savings = 25% Project #00109 Labor Budget = 50 Hours | Material Budget = $2,000 Project #00109 was finished using 40 hours labor and $1600 material (Labor Savings = 10 hours X $10 = $100) + (Material Savings = $400 X 25% = $100) Total Bonus = $200 Customer Satisfaction Survey On Scale Of 1-10 Bonus is reduced by 10% for every rating under 10 Bonus is increased by 10% for every rating at 10 Money is important and the contractor who can creatively reward performance with good pay and some form of the bonus will keep better workers around longer. Whatever path you follow, just be sure that your workers understand what it takes to make that extra dollar. 9. Snacks And Meals Get a large cooler and assign someone to stop by the grocery store or convenience store and pick up two bags of crushed or cubed ice and a selection of single serving ice teas, bottled water, juices and other beverages and possibly some energy bars and related snacks. Investment per construction worker will be rough $5.00 +/-   10. Recognition Whenever someone does something noteworthy, thank them and let them know you appreciate them. At least once a month tells every employee how much you appreciate having them on your team and single out one thing they do well as proof of what you are saying. Most people never get any recognition so your honest, sincere, heartfelt and brief recognition will be like a rainstorm in the desert and just as important. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0168 And It Will Be About About Three Key Questions Successful Contractors Ask Themselves Three simple questions contractors need to ask themselves to ensure your company and brand continues growing cash flow and profits. Three questions that if all owners of failed construction companies had asked themselves, they might have survived and thrived. They are simple, obvious questions, but how you answer them will determine if your construction company will stand the test of time. There was a time when a contractor put a simple ad in the paper or a line listing in the Yellow Pages, and they would have more leads than they could handle. It was the only way to go and the contractors who insist on that and "Word of Mouth" do not survive. Could Those Contractors Have Avoided Failure? I believe they could have. This article explores three key questions that every contractor needs to ask themselves. They need to answer them in ways that provide a clear path to continued and future growth and success. Contractors who did not move from simple ads that had always worked and evolved a Marketing Plan made the same mistake other failed companies and brands made. They failed to Innovate, Reinvent, and Evolve by having a deep understanding of what business they were in, who and what they were competing with and by challenging themselves to understand what their real expertise was. Ask yourself: 1. What are you offering? New construction, remodeling or service and repair? 2. Who are you competing with? DIY, other contractors, the available cash homeowners have to spend? 3. What is your real competency? Residential, Commercial or both? Challenging yourself extensively is the key to answering these questions. Write your answers on paper or computer, sleep on them and then revisit them again and again until you get to the truth. The Truth Is Four Levels Deep! Getting The Leads And Doing The Work Is Only Part Of The Answer Not answering them and acting on the knowledge is one reason why so many contractors companies shrivel and die. They focus on the wrong areas to innovate or improve. They focus on the wrong enemy and threat to compete with. As a result, they miss what they could be doing to succeed and prosper over time. Something that was repeated in the transportation business when the jet plane destroyed most of the lucrative transatlantic liner companies in the late 1960s/ early 1970s. Jet Planes and the new companies behind them destroyed all of the liner companies except for Cunard. In the 1970s when jet travel destroyed all of the other transatlantic boat services, Cunard focused on re-inventing their offer by focusing on their competency and by actively competing with the new threat. They launched into “The Best Way to Cross”/ “Crossing is Half the Fun” campaign and on defining what they should be offered in the form of luxury ships (like Queen Elizabeth 2) and their unique White Star Line service. Today they have a growing fleet of premium ships and are seen as the icon for cruising. Define The Type Of Contracting You Offer And Who Really Is Your Competition It may not be the same form, structure, and category that you operate in. For example, Home Depot does not see themselves as competing in the building supply business, but for a share of the home and commercial remodel and repair market. Be that homeowner doing a weekend project, Handyman Contractors, Remodel Contractors, Trade Contractors as well as other contractors and House Builders. This drives a very different approach and behavior across the organization too if they just saw themselves as fighting for a share of the building supply market. Summary It is very easy to get caught up in the short term and what you have today. You measure your share in the very specific segment you operate in and over obsess about your immediate competition. Just as contractors who did not market effectively did years ago. But you need to step back and ask yourself the three key questions and make sure you answer them in a way that will define and liberate your construction company at the same time. 1. What are you offering? 2. Who are you competing with? 3. What is your real competency? I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0167 And It Will Be About 5 Tips Contractors Need To Follow To Be More Green  Today’s podcast from an article written for our website blog by Jessica Kane, a professional blogger who writes for Federal Steel Supply, Inc., a leading supplier of carbon, alloy and stainless steel pipes, tubes, fittings and flanges. Nowadays, going green is the biggest way to draw in customers. This is true for most industries, but contractors are particularly affected. After all, who wants to pay for a house that will just end up wasting resources and costing the buyer more? For any contractors that want to go green and draw in more customers, here are 5 ways to be more eco-friendly. 1. Use Green Materials If there is ever the option, always err on the side of using recycled building materials. Things like recycled glass and tile are easy to come across and ensure that they do not contribute to taking up space in a landfill. As an added bonus, recycling has become such a buzzword that it will quickly draw customers to any contractor claiming to use recycled materials during home building! A lot of people see hardwood floors as a green option; after all, wood is renewable, right? The answer is yes, but only technically. Wood can obviously be regrown, but when people are using up and destroying more than 150 acres of rainforest per day, and more than 70 million acres per year, it is no longer renewable. Wood can be regrown but with how long it takes, wood is about as "renewable" as oil! Instead, choose a green alternative like bamboo. It works just as well, grows quickly and can be planted in a wide variety of places. 2. Keep the Home Sealed Sealing up air leaks, adding insulation and using glass that helps hold in heat can do a lot to lower the carbon footprint of a home. These may seem like simple steps, but they can do a lot to help save resources. If the house is tightly sealed, a metaphorical mountain of energy can be saved by the people in the home come winter. If the home isn't letting out the heat, there's no reason to crank up the thermostat! Not to mention that potential buyers will be thrilled to hear that they can save a few extra bucks during the winter months. 3. Buy Locally Whenever possible, get the resources to build the home as locally as you can. Imported products may sound nice, but transporting them to where they need to be is often a colossal waste of energy. Take, for instance, the insulation for a home; if there is a local producer near the work site, do everything possible to buy from there. It will also appeal to the buyers that they can help support the local economy by building their house. Everyone loves supporting local businesses! 4. Location, Location, Location! One key, yet often overlooked, factor in home building is what direction the home is facing. If at all possible, a home should not be built facing west. This will limit the sun exposure, and thus cut back on how much the buyer has to waste on air conditioning. This will appeal to potential home buyers and show them that their contractor is thinking about their best interests! 5. Rainwater Harvesting A new question that people have been asking themselves is; why is toilet water purified? It is a massive waste of resources to purify water that will never touch human lips, and rainwater harvesting is the solution. By installing a rainwater harvesting system, rainwater will go into the home where it can either be purified into drinking water or go straight to things like sewage that do not need "clean" water. If a contractor should need to convince a buyer that it is a good idea, just remind them that it will save them on the water bill each month! They'll love it! These are just 5 of the dozens of ways that contractors can go green in their building projects. They can make huge contributions to the environment, all while attracting customers! The only reason to not go green is if someone a.) hates having a planet and b.) hates being successful! Jessica Kane is a professional blogger who writes for Federal Steel Supply, Inc., a leading supplier of carbon, alloy and stainless steel pipes, tubes, fittings and flanges and we thank her for her contribution to making the lives of all construction contractors better and more profitable personally and professionally. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations             Contractors_Success_MAP, Contractors_Success_Marketing_Accounting_Production, Contractor_Bookkeeping_Services, QuickBooks_For_Contractors, QuickBooks_For_Contractors, Contractors_Success_Map_5_Tips_Contractors_Need_To_Follow_To_Be_More_Green

This Podcast Is Episode Number 0166 And It Will Be About Getting Good Reports From Your Construction Accounting System In the world where most people think everything should be Free, Perfect, Now getting good financials from your Construction Accounting System still takes the old fashioned method or hard work and skill. Most Contractors would never expect or allow their staff out in the field do sloppy; tacky workmanship except where the office is concerned. Most contractors who do beautiful work on the job tend to be a Little messy in their paperwork. There is only so many hours in the day and not enough hours to do everything. Highly successful contractors know they need good reports to know where the thier company is going, knowledge on what type of jobs to bid and accept. If and when to hire additional employees. Smart contractors know when to hire someone who has the skill sets that they or their office staff does not have. Make no mistake, managing the paperwork in your construction company requires more than just simple QuickBooks skills. You need someone trained in construction accounting with highly developed skill sets in dozens of online and offline software, not just the basics of how to turn on QuickBooks and write a check. Think of what it takes to manage your household expenses then multiply that by a factor of 10 then add in employees with all the drama and headaches they bring to your company! Issues With Your Accounting? Is it the Accounting Software or the lack of it (shoe box, file box, paperwork behind and under the truck seat, on the table or piles on the counter top, all which will work until you need actual reports for your annual State or Federal Taxes (IRS). Data does not get into the Accounting System without help. Even software that downloads directly from the bank needs a little guidance. Common Questions: What Do I Do? Where Does It Go? It’s Only Receipts – How Hard Can It Be? I can do the bookkeeping myself, or I can hire the neighborhood kid because bookkeeping appears to be simple! Answer: If the Accounting is so simple and easy why isn’t it already done? Reality: Skilled bookkeepers and accountants know what to put where and in what order to put it. Documents can be an Asset, Income, Expense or a just a payment. Just because to paid something to someone does not make it an expense to the business. And just because you make a deposit into the bank does not make it income. Of Course – Without good accounting; all government agencies can take the easy way and add up all the deposits and call it “Income” and they are not so generous with deductions because the more income you have, the more taxes you pay. Is The Problem With The Accounting Software Or The Person Doing It? Are You Frustrating Yourself With A Bad QuickBooks setup? Do You Need To Be “The Expert” In All Things Next Challenge: Should you be doing your accounting? Is this the highest and best use of your time? Of course, you know everything about every piece of paper you touch. Your brain will replay the details of each document which adds time and pain to entering the document. Simple Quiz: If You Had One More Productive Hour Every Day Which Task Has The Highest Return: Entering in Material and Fuel slips in an Accounting System or spreadsheets? Creating file folders for every Gas Station or Fast Food Location? Meeting and Talking with, Prospects or Clients? Being sure that your proposal and change orders are crisp and clear and at your fingertips when you need them? Developing processes to know who is a good client for you? Click Here For The 80/20 Rule For Construction. Finally, making certain the work on the job site is meeting expectations. Things That You Or Your Key Staff Can Do Effectively: Job locations are important – Massive Windshield Time costs money! Embrace Technology. Electronic Time cards are the standard, and they provide the added benefit is knowing where your staff is working. We recommend T-Sheets to use with your Accounting Software or a Stand Alone Product. With its built-in Customer Relationship Management System you can develop reports that are useful for decision-making. And the optional Dispatching Module can save time and money as well as keep track of your trucks, vans, and field workers. Our Goal: Provide Quality Accounting And Consulting Services For Construction Contractors Like You! We recognize that not everyone is a good fit to be an Outsourced Client. For us, the company must be located in the United States. Next, some companies by our definition may be too large or too complex. We provide Accounting Services in a cloud environment. Contractors like you and other Professional Services related to construction are who we serve because we understand what you do, what you need, when you need it, how you need it and when you need it. Our contractor clients range from the Weekend Warrior’s just starting out part time, Handyman, Specialty Trade Contractors, General Contractors to Builders with and without employees.  We help clients with in-house bookkeeping staff and those who need occasion help or consulting. Does Everyone Understand The Problem? What would you like for you Accounting System to be doing that it is not doing now? Is the problem the Accounting Software (or lack of) or the person doing it? The Hard Part – What Is The Solution? Your company has “History” unless you a Brand New Company just starting out. To be able to help you I need to know about what has happened so far, no matter how messy or how little data you have. The easiest way to know is to review your current Accounting System. I will ask for the following: Your Personal and Company Contact Information including Name, Phone, Address, Tax ID #. QuickBooks Online: Add [email protected] as an accountant to your account. QuickBooks Desktop: Upload Backup Copy to our secure client portal. I will need the QuickBooks Version, Year, Admin User Name and Password. Your Turn - One Hour Free Consultation Is How We Determine “How We Can Help.” It’s Simple “I’m The Friendly Voice At The End of The Phone to Listen While You Clarify Your Thoughts.”  The chat includes some about yesterday, what’s happening now and what do you want for the future? Our Idea of Success is when in a contractor like you has money “Left Over” to do what you want to do with your life.   Just a reminder – Your Construction Company does not have to be large for you to make a lot of money! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0165 And It Will Be About And It Will Be About Job Costing For Small Contractors Most Construction Accountants that talk about Job Costing are speaking to large contractors with dozens of employees, doing millions of dollars in sales every year. This podcast is not about them it is about you! I care deeply about all Contractors. However, since I have a limited time on this earth and it my mission to help small contractors like you become wealthy because you bring value to other people's lives! Owners of small construction companies like you are the men and women who keep everything moving in the right direction. When the economy changes, you quickly adapt because you are a survivor, not a large giant behemoth dinosaur unable to respond quickly and dies in its tracks. Job Costing In Its Simplest Terms Job Costing links the money you spent on a job against the money you received to do a particular job. In Construction Accounting, there are two types of Cost of Goods Sold (COGS) Direct Construction Costs and Indirect Construction Costs. Both are equally important to generating useful Job Costing Reports. There Are Four Types Of Direct Job Costs L.M.O.S. #1 Labor costs for your construction workers including your payroll #2 Material you purchased for the job #3 Other charges like permits, inspection fees, and utilities #4 Subcontractors There are several types of Indirect Construction Costs. Everything that is not Overhead or Other Income and Expense. For more on this ask your construction accountant. Job Costing Reports can show you where you are making and losing money which is the foundation for finding out the answer to the most important question you need to know to grow your cash flow and profits "Who Is My Prime Client And Who Is Not?"   For purposes of clarity since most accounting software and other related marketing software uses the word “Customer” instead of “Client” which as many of you know is the term I prefer. For more on this click here Customer vs. Client. Estimates vs. Actuals Report Compares These Key Metrics #1 Money out, what you thought the job would cost and what it did cost. #2 Money in, how much you collected. #3 The difference between money in and money out Weighted Average Of Indirect Costs And Overhead Next, you need to calculate the weighted average of Indirect Costs and Overhead, ignore Indirect Income and Expense as it has no bearing on Job Cost Calculations, to determine a metric you can use to allocate those costs to find the fully burdened Job Cost. Example Job 001 Money In $1,000 Money Out $500 Difference $500 Annual Sales $100,000 Annual Indirect Construction Costs $20,000 Annual Overhead $10,000 Job 001 = 1% Of Annual Indirect Construction Costs $200, ($20,000 X 1%) Job 001 = 1% Of Annual Overhead $100, ($10,000 X 1%) Job 001 = Burden $300 ($200 + $100) Job 001 = Profit $200 (Money In $1,000 - Money Out $500 - Burden $300) With this information, you can create more accurate quotes when you bid on future jobs. Job Costing will help you identify the most and least profitable areas of your Construction Company and most profitable customers and projects and outsource or subcontract the less productive aspects of your Contracting Company. If your Construction Company is not paying you an owner's salary, what it would cost to replace you, and at least 15% return on your investment then you need to rethink the intrinsic value of your Construction Accounting System. What Your Construction Accountant Needs To Generate Useful Job Costing Reports #1 Uniform Naming Convention (UNC) a simple method for naming your customers.     > First Name, Last Name     > Last name, First Name     > Company Name #2 UNC to identify different jobs and projects using a numbering system    or predetermined project titles     > 001 to 99999     > Remodel, Drain Cleaning, Replace Electrical Panel, etc. #3 Every field worker’s time card must have the Job Name, and preferably the task performed. #4 Every expenditure for Labor, Material, Other Costs, and Subcontractor needs to have a Job Name on the document, no exceptions. Any document without a Job Name will be assigned to “zCustomer Unknown” or worse yet, no Job Name at all. Job Costing Is A Lot Of Work And The Results Are Worth It! Job Costing is a lot of work for contractors and field workers, and since most contractors do not see an immediate benefit they tend to slack off on providing the information their Construction Accountant needs. Later when the contractor begins to ask themselves why am I working so hard and earning so little do they begin to ask about Job Costing Reports, and that is when they understand why the “Bean Counters” Construction Accountants kept asking for Job Names on every document and accurate time cards. I have used several construction accounting software products since the mid-1980’s and tested dozens more accounting software programs in the years since, including QuickBooks Online. As of today, May 20, 2016, in my expert opinion, QuickBooks Desktop in the Cloud installed on an Intuit Approved Hosting Provider like the one we use is the only viable option for owners of a small construction company like the one you have. You can save money in the short run by doing it yourself, hiring someone to work in your office or you can spend a bit more money in the beginning and outsource it to a company like ours Fast Easy Accounting, which specializes in Contractors Bookkeeping Services; the choice is yours. Just be forewarned to setup QuickBooks for your construction company, do the data entry, payroll, quarterly taxes, construction accounting and Job Costing and do it right will require substantial skill. If you can find someone or preferably a team with each member having at least 10,000 hours combined training and practice in regular accounting and another 10,000 hours combined training and practice in Construction Accounting and provide them will all of the office equipment and software. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0164 And It Will Be About Four Unique Reasons Small Contractors Succeed Financially And Personally Starting And Building A Construction Company Is Brutal Not Just Hard! There are a great number of "Threads Of Success Weaved Into The Fabric Of All Successful High-Profit Construction Contracting Companies" and I am going to share four of them with you. #1 Successful High-Profit Contractors Limit Their Risk Jeff Bezos, Amazon founder and CEO, nailed the subject of risk when he explained that entrepreneurs should not be risk-seeking. They should focus on limiting risk. One of the biggest ways to reduce risk in your Contracting Company is by validating the need for your service. If you are new in business join your local trade associations, for example, Master Builders Association and attend a few meetings and take some classes. Develop your Unique Selling Proposition (U.S.P.) the one thing that you do better than anyone else in your Geographic and Psychographics Target Market. Try selling your contracting services to a potential customer. Going through this process will help you refine your Value Proposition. Develop your systems using M.A.P., not P.A.M. so that you can be prepared for the bumps in the road that can (and will most likely) occur. Always remember the five Ps: Prior Preparation Prevents Poor Performance. Use O.P.M (Other People's Money) by getting job deposits and regular progress payments. Stop borrowing money at 18% and lending it at 0% see https://www.fasteasyaccounting.com/contractor-not-a-banker to learn more about how to be a Contractor not a lender. #2 Successful High-Profit Contractors Have A Prime Client Profile Most Contractors fail because they run out of cash not because they didn't know their trade. If we peel the onion back, it comes down to not understanding who their Prime Client is and how to reach them. This is something successful small Contractors do regularly as clockwork. Do the research and if you have a Construction Accounting Service get them to help you find the top 20% of your clients that generate 80% of your cash flow and profits. This is an ongoing process that takes time, patience and research. It is vital to figuring out how to market your Contracting Company. #3 Successful High-Profit Contractors Are Organized As Alan Lakein said, "Failing to plan is planning to fail." The most successful small Contracting Company Owners are on top of it. They have their team organized, their financial documents organized and they have their priorities organized. There will always be fires to put out because that is the nature of running a Contracting Company. The most successful Contractors work endlessly to stay organized. This ensures the fires aren't a major distraction to their long-term goals. Lastly, the organization has long been a tenet of successful High-Profit Contractors like you. If you’re still unconvinced, look at the word organization. It’s literally right there in the word. You wouldn’t go work for a disorganization, would you? #4 Successful High-Profit Contractors Are Adaptable And Nimble In a fight between a big guy and a little guy, we tend to think of the little guy as being nimble. Small contractors have the same advantage. Medium and large Construction Companies tend to have extremely high long-term fixed costs. This makes them slow to change direction. Whereas, small Contractors have the advantage of being able to change direction quickly. If their product or service isn't selling as well as expected, they can shift their focus. This concept applies to hiring too! A nimble small Contracting Company can pick and choose the best of the best Construction Workers to staff up as and when you need to. We certainly tip our hats to small Construction Company Owners everywhere. Hopefully, "Threads Of Success Weaved Into The Fabric Of All Successful High-Profit Construction Contracting Companies" will provide value to you as you draw on them for your Construction Company and for your clients. Here’s to thriving! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0163 And It Will Be About The Four Most Important Words Your Construction Clients Say The Four Most Important Words Your Construction Clients Say: "While it's open anyway...." (the walls, floors, ceiling) "Since we're this far..." (in the project, remodel, new house) "I have an idea..." (for more work to be done, change something) "Now my wife wants..." (more, more and more) Highly profitable and very successful Contractors like you respond with... "Tell me more and let me take some notes so that I can better understand what you want". And they open their paper notepad or electronic device and start documenting everything. People love to buy stuff and even more important they love to be listened too and interviewed so when you are listening and taking notes you are giving them what they crave most; respect and attention! During Junior High and High School whenever I was not needed in the family construction company I developed a lawn mowing business by going door-to-door in my neighborhood, presenting and selling my services. Whenever someone said yes to hiring my services I stared asking questions about how they wanted their lawn to look and feel, how often they wanted it mowed, did they want the edges trimmed and was there anything else I needed to know that was important to them. In short I listened and took notes and gave them what they crave most; respect and attention! When I started my first construction company building custom outdoor decks and finishing basements in new split-level homes during the "Bidding Process" I listened and took notes and gave them what they crave most; respect and attention! This process of asking questions quickly separates "Clients From The Customers". Contracting clients are more profitable because they understand and respect professionals who have processes and systems so they willingly participate in the interview process. Customers dislike processes and systems because it means the contractor is a professional whom they cannot bully or intimidate so they will not participate in the interview process.   Contracting Clients operate primarily from the adult ego and see everything in their world as a Win-Win encounter, otherwise they walk away. Clients want the work done, right and on-time and they expect to pay a fair or even high price to get what they want when they want it and to create long lasting fruitful relationships with everyone, not just contractors.   Customers operate from the child or parent ego and see everything in their world as a Win-Lose encounter or they walk away. Customers use manipulation tactics and play word games in order to chisel, cheat, steal and negotiate everything in a life and death struggle to get the lowest possible price and to cripple or destroy any hope of a long lasting relationship with everyone, not just contractors.   Clients are a source of repeat work massive increases in cash flow and profits for your contracting company because they are "The Goose That Laid The Golden Egg". Smart contractors like you will pamper them, give them exactly what the want (Click Here To Learn More) and watch your bank balance skyrocket. When Your Construction Clients Say: "While it's open anyway...." (the walls, floors, ceiling) "Since we're this far..." (in the project, remodel, new house) "I have an idea..." (for more work to be done, change something) "Now my wife wants..." (more, more and more)  You Say: "Tell me more and let me take some notes so that I can better understand what you want" and open your paper notepad or electronic device and start documenting everything. Then as soon as possible transfer your notes to a change order, get it signed, collect the amount of the change order, put the money in the bank and put the change order in the work schedule. Click For Free Construction Change Order Template In PDF Click For Free Construction Change Order Template In MS Word I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations  

This Podcast Is Episode Number 0162 And It Will Be About Unique Challenges and Confessions of a Construction Contractor's Family Hi everyone! This is Norhalma from Fast Easy Accounting. You've probably seen the videos I made and just heard my Podcast with Randal. If you don't know me yet, you are probably thinking, "Well, what does she know about construction accounting?" To tell you the truth, I am neither an accountant nor a contractor. I am the company's webmaster. I also build, maintain, and fix stuff - only I'm in front of a computer dealing with our company's website. I was born and raised with an extended family in our home. Fact is we are actually the extended family. My father and his brothers were often called for small neighborhood projects. When my grandfather was alive, he would spearhead renovations in our house. The whole family is involved in dealing up with the mess. It was pretty chaotic but fun and we had wonderful, happy memories to this day. Simply put, we are Do-it-Yourself people, mainly because we have the manpower available and we only need to spend money for materials. I grew up in a construction family. My father is a general contractor and often called by neighbors for handyman jobs. Other times he gets offered bigger deals like home expansion and renovation. As head of the family and his business as our only source of income, he wanted to keep our finances steady if not flowing. Extensive projects require longer hours in the field and out of the house. Since our mother stays at home with us, we learned to live with the set up. My mom does the “business” side of things as my dad’s bookkeeper. Her organizing skills and management decisions kept the construction company on track and our household in order. At first, she enjoys handling the finances, receiving calls and responding to inquiries. How hard could it be, right?  After their third child was born, my sister, my mom became overwhelmed with her day-to-day checklist. As the eldest, I became responsible on most of the chores in late afternoons and evenings. I remember how my mom would give me that look of exhaustion but with an assuring smile that she’s okay. Usually, I’d help in preparing dinner and I watch as she rushed from one task to the next. She wanted to make sure everything’s in place before my father gets home. One day, I saw her nursing my baby sister in front of her desk piled up with inches of paper. Oh, those papers kept coming! Bills on top of the breakfast bar, receipts in the kitchen counter, some invoices in the car dashboard – I think it came to a point that as long as there is a flat surface, there is a paper on top of it. My father would sometimes randomly ask her on weekends if she has a report on a certain project or a utility bill has been paid and she would just reply that she’ll get to it. On weeknights, after my father arrives home from work, conversations like these will turn to heated argument. Needless to say, being a mother, a wife, and a business manager has taken a toll on my mom. As capable as she is, she got pressured to perform three different demanding roles and we all expected her to stay focused and rock solid. I say this with utmost respect to my father wanting to give us a comfortable life, but I thought to myself, to what extent? Clearly, something’s got to give. It turned out, there’s more to filing papers, typing keys and calculating expenses. In the end, my dad let my mom do what she does best – being a mother! Now that I’m older and a mother to two toddlers, looking at our family’s experience gave me a lot of insight and lessons in life. As a mother, my family is my number one priority. (To Be Continued) I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0161 And It Will Be About Construction Workers Are Not Created Equal There Are Three Unique Types Of Construction Workers Construction Is A Wonderful Profession for anyone with the grit to take it on and master it. And it is getting better every day in every way mostly because of the recession that began in 2008. The economic downturn put enormous pressure on all Construction Companies to innovate and change or go out of business! Construction Is No Place For Weak-Willed Wanna-Bees; however, it is the only place for men and women with grit, determination and a burning desire to believe they can achieve greatness and a legacy of service to all of humanity in the cause of preserving and maintaining civilization through construction. Contractors Need Workers that are right for your particular situation and you need to know the differences between construction workers so you can attract, hire and retain the best ones to help your Construction Company grow and prosper. If You Are A Home Builder You Need "Cavemen And Cavewomen" #01 - New Construction Workers Are Cavemen (And darn good people!) Phase One - The Awareness A young man or woman gets becomes aware of the urge to build something, remodel something or simply play with construction tools and equipment. So they ask questions, do research online or perhaps make application at a construction firm. Phase Two - They Get Hired The young man or woman is hired by a New Construction Company and starts at the bottom, literally as an apprentice and learns by experience and in some cases it is supplemented with night school. Phase Three - They Become Cave Men & Women the Apprentice has learned all the lessons and developed the skills to become a Journeyman Construction Technician Their Skill Sets Include: Brute Force- Always use brute force and if that doesn't work use more brute force and be quick about it....we're burning daylight! Dress Code- Tattoos, torn shirt, filthy coat, scruffy jeans, greasy dirty boots with heavy thick tread that picks up everything you step on. Vocabulary- All the four letter words combined with every insult every hurled, mixed together in new and interesting combinations. Attitude- I not paid to think! Can't somebody else do that? It is not my fault! That was broke when I got here! If You Remodel People's Homes You Need "Cowboy Construction Workers" #02 - Remodel Construction Workers Are Cowboys (And darn good people!) Phase One - The Awareness After a while in new construction the physical intensity begins taking its toll on the body and they cannot compete with the younger kids that are always coming into the trades. They consider a slower pace of work where their skills and experience are more in demand; remodeling. Phase Two - They Get Hired They are hired by a construction company that does residential remodeling or commercial tenant improvement work. Phase Three - They Become Cowboys and Cowgirls The technician has learned all the lessons and developed the skills to become a first class remodel technician Their Skill Sets Include: Brute Force- Sometimes brute force works and if not stop and think until you find a better way. Dress Code- Clean shirt, coat, jeans, boots with soles that will not pick up everything you step on. Vocabulary- Few if any of the four letter words. Limited insults and quietly spoken to co-workers and other construction trades.  Attitude- I am paid to think. I take responsibility to make the experience as pleasant as possible for the customer.  If something is broke I figure out how to get it fixed. If You Are A Service And Repair Contractor You Need "Shoe Salesmen" #03 - Service And Repair, Handymen, Construction Workers Are Shoe Salesmen (And darn good people!) Phase One - The Awareness After a few years in remodel the body rebels again and it is time to move to the next stop, service and repair or handyman. Phase Two - They Get Hired They are hired by a company or start their own business. Phase Three - They Become Shoe Salesmen having experience in all areas of construction they have what appears to be X-Ray vision because they know what is behind the walls, under the floor and on top of the ceiling Their Skill Sets Include: Gentle Persuasion With a Touch of Brute Force- They work where people are living or at someone's busy office so brute force is not the first option. Dress Code- Professional logo's on clean shirt and coat. Work pants or crisp jeans, nice shoes with shoe covers. Vocabulary- Language that could be spoken in church or to their grandmother. No four letter words! Attitude- I am paid to think and be of service in the best way I know how!  There is a lot more to this subject, marketing, strategy, back office setup which I may cover on another article later. The key take away is to understand that just because someone is good at one part of construction does not mean they will be good at another part. Before hiring a construction worker ask what they specialize in and only consider construction workers that specialize in the work you need done.   Unfortunately, in any downturn in the economy or slowdown in the work and some contractors take on work in areas they are not setup to manage and complete.  Each area New Construction, Remodel, Service has a completely different set of skills, tools; expertise and back office support that is needed to do the work and keep customers happy. In the 25+ years I have been involved in construction most of the problems, heartache and headache can be traced back to a contractor that was out of his or her expertise. I have Progressed Through All Three Construction Worker Paths And Ended Up Back At Square One As The Contractors Accountant which why I speak with authority on this subject. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0160 And It Will Be About  Contractors Bookkeeping Service Nine Critical Steps Construction Bookkeeping Is something you understand then you learn. Hundreds of contractors and regular bookkeepers have told us how easy QuickBooks is to use and yet they cannot understand why QuickBooks for Contractors is so hard to use and it is getting harder every year and I agree with them. I Have Used QuickBooks For 25 Years and in the early years the DOS versions were very easy because it had a fraction of the features it has in 2016 and the reports were bare bones.  There Are Apps that make almost everything easy including accounting software. Too many contractors find out too late the old adage "You get what you pay for" still applies. Cheap Construction Accounting Is The Most Expensive Accounting On Planet Earth Operating A Backhoe is easy too! I found out just how easy it is to find underground utilities and bring them to the surface with the greatest of ease like the daring young man flying man on the trapeze. A gentle tug on a lever and water was gushing everywhere! It was very entertaining and extremely costly! This Is Susan's* Story she answered an help wanted ad from a General Contractor, Brutus Hardway*, who was looking for a super cheap bookkeeper with a deep understanding of construction accounting they had to know how to make his QuickBooks For Contractors give him the QuickBooks financial reports and Job Costing Reports he needed to operate and grow his construction company.  Brutus offered Susan $15.00 an hour for 10 hours a week. Susan as a good heart and she had QuickBooks experience, but not using QuickBooks For Contractors so she contacted us and I invested an hour of my time at no charge to share a quick overview of what I call the Contractors Bookkeeping Service Nine Critical Steps. *The names have been changed to protect the real identity of Susan and Brutus A Short While Later - I stopped by to see how everything was going for Susan and her employer. We reviewed the Nine Steps to see how she was using what she had learned. Contractors Bookkeeping Services Nine Steps Step #1 Sort Paper Into Manageable Piles And Be Quick About It! Susan Let Paperwork Pile Up as the contractors, construction workers, USPS mail carrier, shipping and receiving clerks, warehouse workers and other folks that stopped by her desk to leave a few pieces of paper for her to deal with. Always remember the ocean is a collection of drops of water. The piles of paperwork were growing high and wide. Step #2 Simple Data Entry After The Sorting was finally done Susan was beginning to enjoy putting in checks, bills and simple invoices because it was easy especially when she did not bother doing the hard work of entering Job Costing information. Step #3 Payroll And Tax Reporting Payroll And Tax Reporting - Can bring out the worst in people as Susan soon discovered. In fact some of the other employees suggested she was ready to bite the next person who turned their time card in late and expected to get paid on time! Step #4 Reconciling Bank, Credit Card And Supplier Statements Reconciling Statements was something Susan could not grasp during our brief chat because at all of her previous jobs that was never done because it was just too hard! Susan said reconciliations were just a waste of time and busy work and she flat out refused to do them. When Brutus's Checks Started Bouncing like a box of rubber balls dumped on a concrete floor from a 10' high ladder partly because suppliers were being paid twice for the same bills and partly because checks were written outside of QuickBooks and none of the banks were ever reconciled Brutus got concerned and invited his outside QuickBooks expert and construction accounting and bookkeeping services specialist, Randal, to come to the office and train Susan how to reconcile bank, credit card and vendor statements. After 20 Hours Of Attempting To Condense the most important critical parts of a 10,000 construction accounting services skill set that Susan needed to be effective and efficient in her position of contractors bookkeeping services over a 5 day period at $150 per hour with Brutus's investment in Susan's training which totaled $3,000 Susan had just enough training to do the reconciliation part of the job. Randal's Patience Were Wearing Thin because Susan talked, argued and continually interrupted the training tell Randal how different things were at her previous jobs, where the contractors all went bankrupt. Susan Recalled At Her Previous Job She Had Plenty Of Paid Time To shop online, surf the web, text her friends and train her boss like an organ grinder trains a monkey. Susan wanted to talk endlessly about how stupid and ignorant her previous contractor bosses were and how none of them knew anything about operating a construction company. If they all would have listened to Susan none of them would have ever gone bankrupt. In fact, she bragged about posting a running commentary on Facebook and describing in living color and great detail how incompetent her previous contractor bosses were and how she knew every one of the construction companies was going bankrupt. Randal just ignored it and continued to attempt to train her in construction bookkeeping. Brutus Knew Susan Needed A Lot More Training; however, Brutus was not about to spend any more money on any direct training. Brutus kept Susan on his payroll longer than he should have because he was too stubborn to admit to himself that he could outsource his bookkeeping to us for less than what he was paying for Susan's training in the form of bounced checks, missed quarterly tax returns and payments which lead to costly penalties and interest, lost early payment discounts and other expensive mistakes. During The Quarterly Construction Bookkeeping Services Review Randal showed Brutus a production report that revealed the cost of having Susan on the payroll for twelve weeks was in excess of $1,000.00 a week when Brutus had expected to only spend $150.00 a week plus a little money for payroll taxes and overhead. Brutus was not a happy construction company owner. Step #5 Complex Journal Entries Brutus Was Surprised To learn that complex journal entries like entering a HUD-1 statements and complex Payment Applications similar to the G702 and G703 format was something else Susan knew absolutely nothing about. Susan Refused to tolerate any more training from Randal because she decided those things Brutus wanted were not in her contractors bookkeeping services job description. When A Contractors Bookkeeper refuses to do something related to the construction bookkeeping services and the accounting functions of the construction company it is usually a sign of bad bookkeeper traits. Brutus would have saved a lot of time, money and heartache if he had simply paid attention. After Several Rounds Of Losing Money On Progress Payments Brutus Outsourced  the complex journal entries, HUD-1 Statements and complex payment applications to Fast Easy Accounting because the construction bookkeeping services work needed to be done right and on time. Step #6 Prepare Tax Reports Susan Had Filed the Payroll quarterly tax return at her previous job, never on time. She would eventually get around to doing them and when Brutus asked about them so became the "Drama Queen Nightmare" until Brutus finally left her alone to do them when she was good and ready. Step #7 Key Performance Indicators The KPI - Key Performance Indicators are simply five reports take five minutes and they give the construction company owner a snap shot of how the business is doing financially and taken seriously can lead to some serious cash flow coming into their business, and staying there. They Are - Cash Available / Accounts Receivable / Accounts Payable / Profit And Loss / Balance Sheet For more detail click here. Brutus Asked Susan - To prepare and print the Five Key Performance Indicators and have them on his desk every day by five PM. As it turned out Susan had more important things to do with the time Brutus was paying her that involved Facebook, Pinterest and Twitter. Whenever Brutus asked about them she would get upset and a bit angry then remind Brutus about some other pressing problem he needed to handle (see Bad Bookkeepers train their boss like an organ grinder trains a monkey). Her plan worked because after a while Brutus was trained to quit asking Susan any questions. Step #7 B No Key Performance Indicators Brutus Got A Disturbing Call from a friendly competitor who said he was going bankrupt and asked if Brutus wanted to buy his tools and equipment before the auction. Brutus asked what happened and the fellow mumbled something about a bad bookkeeper took some money, unfiled and overdue taxes, material suppliers cut him off for not paying his bills, his employees quit because their payroll checks bounced and they took a bunch of tools and equipment to the pawn shop and the local, state and Federal tax agencies were auditing him for non-payment. Step #8 The 5x5 Business Stabilizers Brutus Remembered reading an article titled The General Contractor And The River Of Construction Commerce and there was something about the Five People On Your Board of Advisors and some other information that he could review because he certainly did not want his construction company going bankrupt! Step #9 Good Bookkeeping Leads To Informed Decisions Brutus Contacted Sharie discovered that we offer more than just Construction Bookkeeping Services and that we have an entire Business Process Management System (BPM) for construction companies like his and got his business on track. Susan Found Employment with another construction company at lower hourly pay and more hours. She had to use her car to run errands, get coffee for the boss in addition to attempting to perform the duties of a contractors bookkeeping services specialist.  When nobody was watching she shopped and played games on the internet, updated her Facebook page and other social media sites, instant messaged her friends and talked with them for hours on her cell phone. All is well that ends well and everybody went home happy! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0159 And It Will Be About Using QuickBooks For Multiple Construction Company Files Since The Early 2000's More Construction Company Owners Have needed two or more incomes. We have met with contractors from several groups: Group One - Skilled Craftsman or Craftswoman is trying to grow a construction company while their spouse or significant other has a job with another company usually unrelated to construction. Today it is more common to see both partners are self-employed and operating a Construction Company. Construction Companies And Other Businesses Owned By - Related business partners and business types can be merged into a single QuickBooks file and that always causes all kinds of trouble! When The Individual Household Partners - File their annual tax return jointly the tax prepare who files the annual Income Tax Return looks at all the business and personal financial reports and is the final authority on what can and cannot be merged together on a single tax return. Most Tax Returns Are Several Dozen Pages Long - With much of the information duplicated on both the personal and business returns which is why we recommend you hire someone who specializes in preparing annual tax returns NOT A Jack-Of-All-Accounting-Trades-Master-Of-None. We do not prepare annual tax returns; we do process Payroll and prepare Quarterly Tax Reports. Why Do We Believe Strongly That You Need Individual QuickBooks Company Files?  Even With Related Personal Partnerships - (married couples) each individual business types are not related and require they own Federal Tax ID Number (EIN). This creates the need for two or more QuickBooks files. For Example - One company is a General Contractor and the other company is an Interior Designer and/or Exterior Landscape Designer or it could be one partner is a Construction Contractor and the other partner has an Event’s Planning business. Multiple Companies In QuickBooks - QuickBooks will support multiple company files, Learn More... If one partner uses a Mac Computer and the other partner uses a PC you can both access QuickBooks windows version using our QuickBooks in the Cloud. Individual Ownership - Of each company is not by the same parties. Company Ownership Issues - Business partnerships between unrelated people makes the day to day accounting even more complex. Who handles the bookkeeping can range from “Everyone” is helping to write checks and “No One” is doing the actual bookkeeping. Which leads to a situation known as QuickBooks Out Of Control!Common Practice - Money is coming / going between accounts of non-related companies and expenses are paid by a multiple of accounts either business / personal / or by others except the business checking account of the actual company. When Company Funds Are Used - There is a need to track the flow of funds to / from each of the company QuickBooks files.  Our focus is Contractors – we also focus on the business finances of our clients.  Where did the money come from (Income / Personal funds / Money from others) – and where did it go?  (Expenses / COGS / Taxes / Personal Draw) For this reason when the second / third / more company is “non-medical” we recommend that we handle the bookkeeping for all of the company files.   Common Practice - Money is coming / going between personal accounts to pay business expenses by family members or non-related household members.Example - Contractor uses personal credit card and would like to be able to show the expense in QuickBooks file….Yes they should have used a company credit card; however, you were at the store, you needed some material to finish the job and did not have the company credit card with you or it may have been maxed out. So you did what you needed to do to get the job done!Example - Girlfriend or Boyfriend pays from their personal account for expenses like vehicle insurance / bond / contractor’s license / etc. – because it was the fastest way to get it done.  Someday she / he would like to be paid back. How Do You Track All Of It - We have a Bookkeeping System to account for all business expenses. Without properly reflecting all the business expenses the Profit & Loss Statement provide incorrect totals and equals higher taxes.If The Business Owner Takes Money Out - Under the theme of “It’s Mine” without proper documentation that could cause the Profit & Loss to be incorrect.Sometimes Clients Want - To keep doing the QuickBooks file for “Their Tiny Little Company” and as time goes on they forget that the funds were handled on one side and missing on the other.As Construction Bookkeepers - We know what standard and usual types of expenses are. If we see expenses have been paid with personal funds / funds by others – we track it in QuickBooks. If we see that normal expenses are missing – we ask about them…Maybe those expenses don’t exist….Most contactors want to have an idea of the individual profit by job and a variety of other reportsTo Meet Construction Company Owners Needs For Specialized QuickBooks Reports – We have to think about What / Why / When / How and then develop the bookkeeping system and reports to provide the answers. What Reports Do Most Contractors Want?Why Do They Want To Know?When Do They Want To Know?How Do They Want To Know?We Can Custom Tailor Reports To Fit Your Needs!  I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0158 And It Will Be About Ten Things Hindering You Getting Loans For Your Contracting Company Do You Feel Like The System Is Rigged To Keep You From Getting Financing For Your Construction Company? Well, it is! There I said and I stand by it 100%. In most cases it's not your fault! The problem is you using painting a word picture to show how well your Construction Company is doing and describing all the new and exciting projects you are bidding on and expect to get while your Financial Reports are telling the banker or lender the exact opposite! Prior to the 1960's Contractors and Bankers had a personal one-on-one relationship. They got to know you, like you and trust you which made getting a loan fast and easy. Then starting in the 1960's lenders started using The RMA more than ever before to influence their decisions. What you don't know about business is 100X worse than what you know about doing the work you love doing so very much.Being Unaware Of The Rules Of Business Causes Many Contractors To Believe: They Can Work Harder And Solve Any Problem... If They Stay In Business Long Enough They Will Win... That One Good Job Will Fix All Of My Cash Flow Problems... Explain Their Situation To All Of The Bankers, Suppliers, Lenders... In the end what you don't know can slowly and painfully drag you and your Construction Company into a deep hole of debt, discouragement, depression and despair long after you have run out of time, money and energy. "If You Know The Answers The Questions Will Not Bother You" - Randalism The Risk Management Association (RMA) In 1914, The Robert Morris Club (RMA) was formed to help businesses and bankers exchange credit information. It was named after Robert Morris who was a signer of the Declaration of Independence and was believed to be the primary financier of the Revolutionary War. The RMA developed several tools among them was a system of Ratios that we use today to study financial statements of all companies in all industries. The banking and lending industry has enormous databases and artificial intelligence software from places like The Risk Management Association (http://www.rmahq.org/) that allows them to separate the good contractor risks from the bad ones. It generates recommendations based on complex algorithms much more complex than any gambling casino and with a much higher payoff.One of the keys to getting a banker, lender or bonding company to consider your construction company for financing is the way your financial statements are presented. In particular, your construction company Profit & Loss and Balance Sheet.A banker, lender or bonding agent logs into their RMA account and fills out electronic forms, answers questions about your construction company and inputs specific numbers in specific blanks that are taken directly from your construction company Profit & Loss and Balance Sheet. Any construction accountant worth his or her salt knows exactly how to setup QuickBooks for Contractors correctly for this process to take place. If a contractor gives their banker, lender or bonding agent a set of financial reports that do not conform to the RMA requirements they may or may not try to extrapolate the numbers need using Excel or some other program.In most cases they be very polite, and thank you for "applying" before giving you the "We will let you know as soon as we know anything" speech. I know this because I have heard it from many bankers, lenders and bonding agents who are frustrated because they know you are a good client and they know you are a man or woman of integrity that can be trusted to pay the loan back, on time, with all of the interest.The RMA and other reports show where your contracting company stands in relation to other contracting companies serving similar geographic and demographic markets.Each major category, Sales, Cost of Goods Sold, Overhead, Other Expenses and Other Income are rated on a scale of top 25%, middle 50% and bottom 25%.Ideally all of the numbers on your Profit & Loss and Balance Sheet falls somewhere in the middle 50%. Whenever a contractor "forgets" to declare all of their income or "overstate their expenses" it will show up here like a red flag.Finally a Z-Score is compiled which is a formula for predicting bankruptcy. Edward I. Altman published it in 1968. The formula may be used to predict the probability that a firm will go into bankruptcy within two years. Although not 100% accurate it is a useful tool, similar to a tape measure is not 100% accurate yet still useful.This is why sometimes a contractor with excellent credit cannot get a loan or line of credit and yet another contractor with only good credit can get financing.Ten Little Things Hindering You From Getting Loans ForYour Contracting Company Which Can Be Fixed The following can be found by doing a bit of work in Excel and getting the raw data from your Financial Statements. Or by contacting clicking on the link below Contractors Management Reporting Service. #01 Current RatioA ratio of cash on hand to accounts payable of less than 1:1. Ideally, this ratio should be 2:1 or 2.5:1. #02 Bill Paying HistoryPoor payment records, judgments, liens, bankruptcy, etc. for the firm and/or principals on credit agency reports. #03 Unpaid TaxesMake certain your payroll taxes, income taxes, sales taxes are paid and you have cash reserves in a separate bank account. #04 License IssuesUnlicensed contractors and those with expired licenses are a huge red flag! Don't do this! #05 Bonding IssuesContractors who can't get bonded or if your bonding capacity has been cut or your current bonding company refuses to renew it figure out why and get it resolved quickly. #06 Financial StatementsProfit & Loss and Balance Sheet not current, formatted wrong or worse yet you feel the need to explain them. #07 Job Status ReportsList of current jobs you are working on with a breakdown of how much you have in job deposits vs. how much you have spent. In other words are you in competition with the bank by lending your customers and clients money in the form of Labor, Material and Subcontractors which is exactly what happens when a contractor does not keep getting draw checks against work that has been done and has at least a 10% residual. #08 Everybody Is Your Customer Which Means You Have No ClientsBankers and lenders may ask you to describe the people you work for and if you start the conversation talking about your Customers they will presume you are one of those contractors stuck in your "Do Gooder Phase" where most people enter in their 20's and grow out of in their 30's; doing lots of work for friends and family who are "On a Budget" and persuade you to work for FREE or even less! Study your Job Profitability Reports and determine who is your Prime Customer and begin to understand the Difference Between Customers And Clients. It is found in the 80/20 For Construction Success. #09 Working On Jobs Outside Your Area Of ExpertiseIf you are a residential remodeler and darn good at it don't fool yourself into thinking, you can just as easily be a spec home builder or worse yet someone who can work on commercial tenant improvement projects. The skills, tools, specialty contractors and work flows are different for each of these areas. #10 Working On Jobs Outside Your Prime Geographic AreaWindshield time kills profits! The only people who make money on windshield time are the construction workers. Sharp bankers and lenders will ask about this one. Make sure you have Job Profitability Reports to show why you are working outside your geographic area. Your prime geographic are will depend on the type of contracting work you do. Consult your construction accountant and your Job Profitability Reports to help you determine what makes sense. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant Our Workflow Removes Your Paperwork Frustrations

This Podcast Is Episode Number 0157 And It Will Be Nine Reasons Why Contractors Outsource Bookkeeping To ProAdvisors Having used QuickBooks for 25+ years and helping 1,000's of contractors here are the top 9 reasons Contractors contact me since I am one of the few QuickBooks ProAdvisor specializing in Construction Accounting. Do any of these scenarios sound like what you may be dealing with on a regular basis in your Construction Contracting company… As a Contractor, you may have learned your trade from a skilled master craftsman or Journeyman that was your teacher and mentor for a few days to a few years. If you were fortunate your mentor was someone who also learned from a skilled master craftsman or Journeyman and they both had developed good habits of continually reading books, trade journals, attending seminars and paying for class room instruction in order to keep themselves updated with the changes in their industry. To paraphrase Stephen Covey they continually sharpen the saw "Sharpen the Saw means preserving and enhancing the greatest asset you have--you. It means having a balanced program for self-renewal in the four areas of your life: physical, social/emotional, mental, and spiritual. "Most Contractors don't want to waste time and energy being a "desk jockey" pushing paper around and banging away on a keyboard trying to make QuickBooks do what they want it to. You have a business to run and all too often you run it by trial and error learning the hard way, by experience what makes your company run more smoothly and what needs to be fixed. No matter what kind of construction, service work, home builder, trade contractor, tenant improvement contractor, land developer, handyman or other type of Contractor the key to success and making a lot of money is knowing your business inside and out and applying the following Randalism: "Early To Bed, Early To Rise, Know Your Numbers And Advertise" - Randalism The good news is there are a number of valuable tools to help you understand and manage your Construction Company’s profitability with programs like QuickBooks. The bad news is that QuickBooks is getting harder to use as they add more options and applications which can overwhelm and stop a contractor like you in your tracks. Reason #01 You may find QuickBooks isn’t giving you everything you need to operate and grow your Contracting Company. You may need some training for yourself or your bookkeeper to understand how to use QuickBooks. Perhaps you have been using the world's most popular bookkeeping software Excel, your shoe box full of receipts are overflowing and you are eager to get on the automated record reporting bandwagon.Reason #02 Switching to QuickBooks gives is a good start, but a QuickBooks ProAdvisor who really understands the difference between regular accounting and construction accounting can save you 100's hours of frustration, $1,000's of dollars in overpaid taxes, mishaps that can sap your energy and your time and give you false readings about the health of your business and help you capture lost revenue opportunities. Reason #03 You want to get more out of QuickBooks and you have heard your competitors brag how much QuickBooks has done for them and you want some of that too! You know that you are only using a fraction of most programs on your computer especially if you have Microsoft Word or Excel on it and you know owning and installing QuickBooks won’t make you a Highly Skilled Construction Accountant With 10+ Years' Experience Working On Construction Sites and be able to magically address all of your Strategic Contractor Bookkeeping Services needs. You need answers to understand the reasons behind the numbers and you need to save time. When faced with challenges like these, you need to know more than just the basics of how QuickBooks works. Your trainer at the Gym helps you get more from your workout and your QuickBooks ProAdvisor who understands construction accounting and how things work on a construction site can help you get more out of QuickBooks and save you time and money! Reason #04 You need Job Costs Reports and the facts are that job costs, and profitability are welded together. If you don’t have QuickBooks Setup properly for Job Costing in a way that reflects your Contracting Company’s specific needs you may be missing out on all of the value job costs reports can offer you which means your cash-flow and profits will suffer. Job costing should not be a frantic last-minute attempt to figure out why your profits for the previous year were less than you expected and what you planned at the beginning of the year. A QuickBooks ProAdvisor specializing in construction Accounting can setup QuickBooks job stage reporting for estimated and actual costs. We can also help you scale your reporting to track fixed-price, time & materials, and cost-plus job results accurately.Reason #05 Your Profit & Loss Report, Balance Sheet and other numbers look funny or they are flat out wrong! Having accurate numbers is essential to understanding where the leaks are happening in your business. Little leaks sink big ships and construction firms because they are easy to ignore until it is too late. If you are not keeping current with reconciling bank accounts, credit cards, and loans they can get out of control real quick! A QuickBooks ProAdvisor specializing in construction Accounting can bring the numbers into focus and fix months or even years of bookkeeping errors fast and easy. Reason #06 Your reports are outdated. The Herculean task of keeping up with the daily operational details of operating and growing a profitable Construction Company like yours can run you and your family in the ground. And if you don’t have the information at your fingertips to know exactly how your cash flow, profits, breakeven and benchmarking you won’t have time to make “course corrections” before your company leaves the highway of success, crashes in the ditch, upside down, tires spinning, engulfed in flames while you stand there looking at it, wide eyed, mouth open, gasping for breath with tear stained cheeks wondering what happened. A QuickBooks ProAdvisor specializing in construction Accounting can train you, and your team, how to get online financial management reports without ever having to open QuickBooks. Reason #07 You have file management and security concerns. QuickBooks helps you collect, organize and report your data yet you may be worried about remote access, privacy and security limitations. Do you need to access QuickBooks from the office, home and when you are on the road? Is QuickBooks crashing and running slower lately?A QuickBooks ProAdvisor specializing in construction Accounting with access to QuickBooks Desktop in the Cloud could be the answer you seek. All of the convenience of QuickBooks Online with all of the power and functionality of QuickBooks Desktop. Reason #08 You need more cash flow and profits to operate and grow your business. Too many Contractors struggle with finding and creating job profitability (gross profit) that will yield a fat bottom line. You need to have a clear understanding of how to come up with the right labor costs and profit margins for your construction jobs while managing your company’s overhead, operating costs, and expansion. You need to Optimize Vs. Maximize. A QuickBooks ProAdvisor specializing in construction Accounting can review your Job Profitability Reports and help you see and understand the 80/20 Rule For Construction Companies and how you can use it to reap massive harvests of cash flow and profits. The 80/20 Rule Can Make You A Lot Of Money! For example:·    20% of your customers normally generate 80% of your net profit. ·    20% of the goods or services you sell contribute 80% of your revenue·    20% or 2 out of 10 of your staff create 80% of the value for your customers. The frightening consequence of the 80/20 rule is that 8 out of 10 hours we spend at work drive almost no value to the bottom line and the biggest drain is trying to save money doing our own contractor bookkeeping instead of reviewing the Key Performance Indicator (KPI) Reports. Through our contractors bookkeeping services system you can access them 24/7 without opening QuickBooks for Contractors.  The most important value good bookkeeping brings to a business is an understanding of where your 20% is hidden.  By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work. This is the great contribution a company receives from good QuickBooks®  data and from using QuickBooks®  the ‘right-way’. Reason #09 The final, and best, reason to work with A QuickBooks ProAdvisor specializing in construction Accounting is you don’t have to understand construction accounting or be intimidated by someone who does! Your QuickBooks ProAdvisor can help with QuickBooks Setup, QuickBooks Cleanup and all things related to QuickBooks and Construction Accounting by creating the ideal program that fits your business like a hand in a glove. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs   This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0156 And It Will Be About What Is Your Construction Company Worth  Have you been in business as a construction contractor or specialty contractor for a while and now you are wondering what your construction company is worth?This question comes up early and often and perhaps you would like a bit of inside information that we share with our Outsourced Strategic Contractor Accounting Services Clients. Nothing Is Ever As Good Or As Bad As It First Appears If you are like most contractors you learned a trade, skill or craft and after a while you decided to go into business for yourself and make "The Big Bucks" and that was one of the happiest day of your life. I've heard It said that boat owners experience two of the happiest days in their lives; the day the bought their boat and the day they sold it.There are two answers to the question what is my construction contracting company worth.Accounting Value: Equity Which Is [Assets or What You Own] (Cash, Tools, Material, Loans The Company Made) - [Liabilities or What You Owe] Payables, Credit Card Balances) = [Equity or what is left Over].These numbers are found on your construction company Balance Sheet. See the example below and notice the highlighted line "Total Equity" This means as far as the accounting records are concerned: #1 If the owner collected all of the money owed to them [Accounts Receivable] and got the security deposit back.#2 Sold all of the vehicles, computers, office equipment, machinery and equipment [Fixed Assets] for the amount shown. #3 Paid all of the bills [Accounts Payable], [Credit Cards], [Other Current Liabilities], [Long Term Liabilities]. #4 There would be $305,616.56 in cash for the owner. The Real World:The true net worth of your construction contracting company is what someone else will pay you for it. There are 100's of factors that affect how much your construction company is worth and I have listed nine of them below:1.    Length Of Time In Business2.    Standard Financial Statements 3.    Net Income4.    Cash Flow5.    Number Of Customers Or Clients6.    New Customer Or Client Acquisition Strategy7.    Existing Customer Or Client Retention Strategy8.    Documented Operations Manuals9.    Unique Selling Proposition #1 Length of Time In Business - In general the longer your business has been around the better. Just know that everything changes rapidly so in most cases what occurred more than three years ago may not be as relevant.#2 Standard Financial Statements - There are number of ways to setup QuickBooks for Contractors it depends on what you want from them.Internal Financial Statements are what most bookkeeper’s setup which means they may add a lot of fluff and try to capture Work-In-Process (WIP) and Job Costing in the Chart of Accounts which is fine for your internal use but next to worthless for anyone outside your company.Tax Preparer Financial Statements are what most C.P.A.'s and Tax Preparers setup which means they keep the Chart of Accounts small as possible and mirror the annual tax return as close as possible. This helps them get the tax return done in the least amount of time and effort possible. It is next to worthless for you, the contractor and anyone else.Standard Financial Statements are what most bankers and investors like to see because the Chart of Accounts are setup in a way that makes it possible for them to understand the financial health and well-being of your Construction Company. Most banks subscribe to a service like The Risk Management Association (RMA) that allows them to input key data from your Financial Statements and returns a very in-depth analysis of your construction company. This means when a contractor gives their banker, investor or potential buyer anything but Standard Financial Statements they are "Shooting Themselves In The Foot With A Nail Gun".Our Contractor Bookkeeping System can provide you with Standard Financial Statements; unless you or your bookkeeper makes adjustments in the Chart of Accounts. You and your bookkeeper can make any adjustments in the Item lists and as long as they are linked to the correct account in the Chart of Accounts it will be O.K. A Bit Of History Helps With Understanding How RMA Can Affect You Personally The Robert Morris Club (RMA) was formed to help businesses and bankers exchange credit information. The RMA developed several tools among them was a system of Ratios that most lenders, creditors and all credit card companies use to separate the good companies from the bad in all industries. The RMA and other reports show where your contracting company stands in relation to other contracting companies serving similar geographic and demographic markets. Each major category, Sales, Cost of Goods Sold, Overhead, Other Expenses and Other Income are rated on a scale of top 25%, middle 50% and bottom 25%. Ideally all of the numbers on your Profit & Loss and Balance Sheet falls somewhere in the middle 50%. Whenever a contractor "forgets" to declare all of their income or "overstate their expenses" it will show up here like a red flag. Finally, a Z-Score (click here for explanation) is compiled which is a formula for predicting bankruptcy. Edward I. Altman published it in 1968. The formula may be used to predict the probability that a firm will go into bankruptcy within two years. Although not 100% accurate it is a useful tool, similar to a tape measure is not 100% accurate yet still useful.You apply for a loan, line of credit, bond, credit card or something similar and the lender asks for a copy of your Construction Company Profit & Loss and Balance Sheet. The lender or bonding agent logs into their RMA account and fills out electronic forms, answers questions about your construction company and inputs specific numbers taken directly from your construction company Profit & Loss and Balance Sheet.Any construction accountant worth his or her salt knows exactly how to setup QuickBooks correctly for your application to be presented in the most favorable light. If a contractor gives the banker, lender or bonding agent a set of financial reports that do not conform to the RMA requirements they may or may not try to extrapolate the numbers they need. In most cases, they will give you the "Thank you for applying" speech before giving you the "We will let you know as soon as we know anything" speech. The rotten shame is most of the time the lender knows the contractor and believes you are a good and decent person who is a valuable client and they know you will pay the loan back, on time, with all of the interest. The problem is most decisions are made based on software and the loan officer cannot violate the lenders policies. This is why sometimes a contractor with excellent credit cannot get a loan or line of credit and yet another contractor with only good credit can get financing at low interest rates, with low down payments and a long time to pay it back.#3 Net Income - Is your construction company earning enough money to pay you a decent salary which should be at least twice your highest paid employee and at least 10% net profit after all costs including Income Taxes. #4 Cash Flow - Is there enough cash in the bank or money market accounts to keep your company running for at least 60 days? And is your cash balance growing every year by at least 5%? #5 Number of Customers or Clients - Which do you have Customers or Clients click here to learn more? Quantity is not as important as quality. Having the right mix of quality customers or clients that provide a lot of top line sales and revenue is critical. #6 New Customer or Client Acquisition Strategy - A simple documented strategy outlining a profile of your best customer demographics and psychographics so you know who they are, where they are and how to attract them. #7 Existing Customer or Client Retention Strategy - A simple documented strategy outlining the changing needs of your customers and clients based upon the profile of your best customer demographics and psychographics so you know what they are going to want before they do and continually innovate your services to those wants, wishes and desires. #8 Documented Operations Manuals - Don't get trapped by the lazy way of training people by paying people to learn by experience or by sitting around the "Camp Fire", "Water Cooler", "Break-Room", or "Jobsite". In the end you will have total chaos because everybody will have a different way of doing everything and not amount of yelling, screaming, threats, punishment will be effective. In the end you will waste a lot of money that should have gone to bottom line profits. This can be avoided with documented operations manuals.#9 Unique Selling Proposition - What is the one thing you do best that makes you the most money is your Unique Selling Proposition. One of our Plumbing companies in the 1990's it was maintenance contracts for fast food restaurants. We made a lot of money by cleaning their drains and side sewers during their slow times instead of waiting until it was an emergency and fixing and replacing leaking faucets because we could schedule the work to be done by our crews during our slow time. These nine tips are only a fraction of what we have to offer and I want to close with a story: The River Of Construction Commerce Has Two Areas The Bad Area - Is where contractors without a Clear Business Strategy operate their Construction Company. Inside the rapids which are shallow, narrow, with boulders, trees and wrecked Construction Companies. It’s loud, rushing, churning like a Wild Roller Coaster with its violent ways which will exact a toll on even the strongest most determined contractor. In time it will wear them down to where they are dispirited and heartbroken or simply heart stopped and flat broke.The Good Area - Is deep and wide with a sandy bottom and meanders quietly and calmly. It is like riding a Peaceful Merry-Go-Round and those Construction Company owners can become wealthy.This Is Frank’s* Story - It started one day when the idea of owning his own Construction Company popped into Frank's head, grabbed his attention and said “Let’s do this!” That Particular Friday - In December the boss had just told Frank that he needed to increase his production. The very idea that his boss would suggest such a thing made Frank's blood pressure go up and Frank was angry about it all day! The Following Day - Frank's close friend Bob stopped by Frank’s house to visit and Frank mentioned the boss’s remarks.  Bob had been encouraging Frank start a Construction Company for years and before you know it Frank The Hot Dog Remodeler, Inc.** was born.With A Box Full Of Enthusiasm - And a pocket full of "Can-Do-Attitude" Frank launched his brand spanking new Construction Company into what looked like the Good Area of The River of Commerce. For a while everything went well. No boss breathing down his neck, no pesky customers to satisfy, no employees with unreasonable demands, no taxes due, nobody gives Frank any guff. He was a free man and life was good!Then It happened - Frank’s phone rang and it was Bob calling to suggest that perhaps Frank could come to his house and build a deck on the back side of his two story house.And So It Began - Frank had his first customer, the one who would help launch him on his journey down the river. Bob Said - "Hey Frank since you don't have any overhead you could do the job at a really, really low price. And in return I will have lots of parties to show off my new deck to all my friends and neighbors which will send lots of business to you!"Frank Spent Time Drawing Blueprints - For the new deck. Bob suggested another cost saving idea that he, Bob could pay for the material using Frank's discount at the local lumber yard.Frank Got The Building Permit - And the work started. Two weeks later it was finished and it looked great!Frank Was Embarrassed - To ask for money for his labor so he asked Bob to suggest a dollar amount.  Bob said since Frank was working for $20.00 an hour at his previous job that would be a fair price. Especially since Frank would get the entire $20.00 and no taxes taken out…what a deal!A Short While Later - Frank started getting lots of work at $20.00 an hour because he was a nice guy and didn't mark up the material like his old boss, the greedy no-good Remodel Contractor. Frank Was Generous - Because he provided the little bits of hardware like a few nails, screws, caulk, glue, tape, shims, wire-nuts, bolts, nuts and washers at no charge.Frank Was Just Entering - The white water rapids in the Bad Area of The River Of Construction Commerce and didn't even know it!Frank Needed - To bring in other trade contractors like plumbers and electricians to do things he was not skilled or licensed to do.Customers Told Frank - It was unfair for him to expect to be paid his $20.00 an hour for the time he spent calling trade contractors, scheduling jobsite visits to review the scope of work, gathering bids, reviewing them with the customer, scheduling the trade contractors and overseeing their work. The customers told Frank he wasn't doing any real work; it was a mini-vacation from swinging a hammer; they said with a grin and a smile.Then Frank Figured Out - His truck was part of the $20.00 an hour he was charging and that it cost money to buy fuel, oil changes, tires, tune-ups and other maintenance and that it needed to be replaced because it was in bad shape.Frank Suddenly Realized - His $20.00 an hour was paying for his truck expenses, cell phone, hand tools, equipment, maintenance, repairs, small supplies like a few nails, screws, caulk, glue, tape, shims, wire-nuts, bolts, nuts and washers and his time to schedule trade contractors. All those things that seemed unfair when his old boss charged his customers for them began to make sense in Frank's Mind and he began to understand why he needed a Business Strategy.The River Was Getting - Rough, loud and mean and the white caps were tossing his little Construction Company around like a rag doll caught in the mouth of an angry dog that had not been feed in three days!In Order To Make Money - And keep his Construction Company afloat he decided to hire some skilled labor and that is when he was just rounding the corner to the bad part of rapids on the river of construction commerce. Frank Found Out - Real fast that skilled construction workers don't work for less than $20.00 an hour plus benefits, vacation, retirement, health insurance, bonuses and everything else he used to ask his boss for back in the bad old days of being an employee.Things Had To Change Fast - So Frank raised his rates and lost all of his price conscious customers. Now Frank was in trouble and going over one of the many waterfalls in bad part of The River Of Construction Commerce. Fortunately Frank - Had a friend who was a trade contractor and referred him to someone who he knows, likes and trusts; The Contractors Accountant and Construction Business Coach who can help him develop his personalized Business Strategy. Randal Tossed A Lifeline - By offering Frank at No charge a one-hour consultation which he immediately grabbed and held onto it for dear life. Frank Became A client - And in time he changed how he saw the world and understood there is a Hall of Justice but there is no Hall of Fairness. And that it is up to every contractor to put as much thought and planning into their Business Strategy as they do into developing a set of drawings for a construction project if they want to have something more than owning a job that nobody wants to buy when they are ready to retire.Frank's Construction Company Coach - Helped him understand he had to choose between being RICH or RIGHT. Frank chose RICH and as a result his construction company **Frank The Hot Dog Remodeler, Inc. made him a very wealthy man.*Frank is not the contractors real name; it was changed to protect his privacy.**Frank The Hot Dog Remodeler, Inc. was used to protect the identity of the firm. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0155 And It Will Be About Cheap Contractor Bookkeeping Is The Most Expensive Bookkeeping All Highly Successful Contractors Like Saving Money Where They Can But Not On Cheap Tools, Equipment, Material And BookkeepingBecause That Always Costs Them Profit Dollars In The End: Cheap tools break which slows the work down, increases labor costs and in the end costs more than quality tools. Cheap equipment breaks down more often, increases labor costs and also costs more than quality equipment. Cheap material is one of the causes for warranty work which drains profits and runs up labor and material costs. Cheap Contractor Bookkeeping can cost more than the previous three combined because of what you don't see. The Cost Of Cheap Tools, Equipment And Material Cheap Tools And Equipment - Cost a lot of money that you cannot see; out-of-sight means out-of-mind. When contractors like you invest in the best tools and equipment you can afford in the short and long run you will save money. Construction workers who take pride in their work will always produce better results faster with fewer repairs if they have quality tools and equipment. And they will tend to stay with your construction company longer which will help you earn more profits. If You Pay A Construction Worker $25.00 Per Hour Every Ten Minutes Your Construction Worker Costs You $5.94 Click Here To See The Math At 10% Profit You Need To Sell $15,544.20 More To Maintain Profit Margin For Example - Your best construction worker asks for a tool which costs $1,200.00, will save ten minutes a day in labor and last three years the most common response is "We can't afford it...make do with what you have...it is a poor craftsman who blames his or her tools". When someone suggests "buying a tool to save money" most contractors hear "spend my hard earned money". These knee-jerk reactions come directly from the part of our brain called the "amygdala". It is what causes us to react to circumstances rather than respond them. It is also known as the "Fight or Flight" decision center. Break the cycle of "doing the same thing you have always done and getting the same thing you have always gotten" by simply "Stopping And Thinking". Cheap Contractor Bookkeeping Until Your Construction Company - Reaches at least $5 million in annual sales you cannot afford to hire a qualified bookkeeper or construction accountant full-time to put on your accounting staff and don't be fooled; there is no such thing as a part-time qualified bookkeeper or construction accountant. For Example - If you try to save money by hiring someone who says they have 10 years of experience ask one simple question: How Much Money And Time Have You Invested Books, Classes And SeminarsTo Hone Your Construction Accounting Skills Or Even Regular BookkeepingIn The Past Ten Years And What Was The Last One You Attended? Anytime a bookkeeper whom is interested in joining our team of Highly Qualified Professional Construction Bookkeepers and they tell me they have several years of experience I ask that question and in 98% of the time the answer none. As you know the basics of just about trade from butcher, baker, candlestick maker, framer, plumber, electrician, HVAC, roofer, concrete finisher can be learned in six months. However it takes 10,000 hours of training and practice to begin to become skilled in construction bookkeeping or become a Journeyman in any construction trade and then a minimum of 100 hours a year to stay current with the trends in a given trade. So let's look at the true cost of a bookkeeper with bad habits who is a Cheap Bookkeeper that you hired part time at $15.00 an hour for 10 hours a week thinking you will save money. The True Cost Of A Cheap Bookkeeper At $15.00 Is Close To $25.29 Per Hour Click Here For The Math. For A Rough True Cost Of Your Bookkeeper Double The Hourly Wage You Pay ThemEvery Ten Minutes Your Bookkeeper Wastes Costs You Money!Every Ten Minutes A Day Of Unproductive Office Labor:Could Cost Your Company $273.93 Every YearAt 10% Profit You Need $2,739.30 More Sales To Maintain Profit Margin Everybody Loses When A Contractor Goes Out Of Business Or Worse Yet Bankrupt! It May Seem Harsh - In order to survive and thrive as a contractor you must make certain your employees are focused on their job during the time you are PAYING THEM TO WORK! You must do whatever it takes to enforce the rules of engagement for producing results at your contracting company or be prepared to work for some other contractor and live under their rules. In Some Cases - We can do more work for less money by providing you with real construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more at a lower overall cost and as an added bonus show you how to make more money than you are now! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0154 And It Will Be About Unique QuickBooks Features Contractors Need To Succeed You're A Smart Contractor And You Know QuickBooks Has The AnswersYou Need To Operate And Grow Your Construction Company Every time you or your bookkeeper opens the darn thing it sits there and does nothing. That's because QuickBooks is deaf and dumb! The people that developed QuickBooks are genius’s and I really mean it because the products they put out are top drawer!When you understand they designed it to be sold to all industries, not just my favorite, construction you begin to see the problem; it has tons of stuff contractors don't need. QuickBooks Is Hard For Contractors Learn And Use I know it because for the first 10 years of using it I yelled at it, slammed my fist on the desk, cussed it out, called it every name in the book, threatened it by beating keyboards until they shattered into a million pieces and I got a bloody fist.I tried asking nicely, performed a variety of song and dance routines, pleaded with it, bought and read dozens of books all claiming to have the answers to make QuickBooks do what I needed it to do, called QuickBooks technical support and got nowhere because I only speak English.After all of that I spent weeks learning the QODBC (QuickBooks Open Database Connector) and how to use it only to discover it's a rabbit hole that never ends. The more you try to make QuickBooks do something you need it to do the deeper you need to go until you wake up and realize you forgot what you were trying to do in the first place.To make matters worse not only do you need 10,000 Hours Practice To Master Strategic Construction Bookkeeping but nowadays you need to have intense skills in Project Management to wade through the millions of online applications to find the ones that say they work with QuickBooks and then you need a computer science laboratory to test them and tweak them to fit into a Construction Document Collection and Management System. Five Online QuickBooks Features Contractors Like You Need To Succeed 1. Online Download Banking And Credit Cards That We Put In  QuickBooks2. Online Bill Payments And We Put The Transactions Into QuickBooks3. Online Time Tracking And Time Cards Which We Put It In QuickBooks4. Online Payroll And Tax Reporting Which We Put Into QuickBooks 5. Online Financial Management Reports Which We Put Into QuickBooks 1. Online Download Bank And Credit Card Transactions Using QuickBooks as an electronic check register is the number one reason contractors buy QuickBooks. You need a way to keep track of your money. Then the banks and credit card companies started offering to download transactions directly into QuickBooks and that seemed like a miracle because of all the time and money you would save in data entry.Very quickly you found out that downloading transactions from the bank or credit card companies directly into QuickBooks made a "Pigs Breakfast" of your Financial and Job Costing Reports.We have the answer. Our Contractor Bookkeeping Workflow downloads your bank and credit card transactions into our enhanced Hubdoc Secure Paperless System For Contractors where our Bookkeeping Workflow separates and codes each transaction where our Highly Skilled Team Of Construction Bookkeepers inputs each transaction into the proper place in your QuickBooks Desktop Version In The Cloud. 2. Online Bill Payment System "Online Invoicing and Bill Pay is the next great leap in productivity since the introduction of the cell phone!" - Randal DeHart, Premier Construction Accountant Online invoicing and bill paying and is saving construction contractors time and money by streamlining their entire processes which means they and getting paid faster and putting more money in the bank to operate and grow their construction company.With the optional bill tracking and bill payment services they are increasing bottom line profits by avoiding late fees and taking advantage of vendor discounts which in some cases can generate 36% Return on Investment!Online bill paying services were originally developed as a way to save individuals and businesses time and money during the bill paying process and have since grown to encompass a whole host of services designed to reduce the need for highly paid office staff.For example a part-time bookkeeper paid $15.00 an hour will cost you approximately $25.29 an hour after all of the taxes and overhead.How much time and money would your construction company save if you and your field workers could use a smartphone, tablet, iPhone, laptop or notebook to invoice the job when you are done and email your customer or client before leaving the job? What would it be worth to you in time saved, misunderstandings with the bookkeeper and general aggravation?  3. Online Time Tracking And Time cards Online Time Card Calculator For Construction Contractors Links To QuickBooks Job Costing And Actually Works!"No more illegible or lost paper time cards, or payroll spreadsheets; TSheets is sweeping business owners and bookkeepers everywhere off their feet with fast, easy, and mobile time tracking for payroll.With employee hours tracked in real time, employee timesheets are ready for payroll whenever you are. It's delightfully easy time tracking for delightfully fast payroll." - Quote From TSheets Website 4. Online Payroll Processing And Tax Reporting Getting timecards into QuickBooks and processing payroll can be a big hassle for your construction company. Timecards come in late causing payroll to be under enormous pressure to meet direct deposit deadlines Tracking employee bonuses, reimbursements and garnishments take time and money and can cost your company some serious fines, penalties and lost productivity if you don't have handled correctly. Employee advances and loans that you forget to deduct can drain away your entire profit The Best Part Is You Decide When To Release The Payroll Checks! Because you never, never, never, never want to let anyone have access to your company bank accounts! That is one of the fastest ways to lose everything you own so do not do it! Any payroll service or rotten accounting firm that suggests they will keep your payroll and tax deposits in their "Trust Account" do not have your best interest in mind! No matter what you have been told at the contractors round table you, the business owners are 100% responsible for paying all your payroll taxes no matter what happened to the tax deposit including a bad bookkeeper who embezzled it or an rotten accountant that lost it playing the stock market. We do not touch your money! We can process the payroll for direct deposit, you can print them on your office printer, we can print them for you in our office, YOU MUST BE PRESENT, you can hand write them from the paystub we send you, whatever is best for you! We can prepare the payroll tax reports and you decide when and how to pay the taxes! PS: If you are having issues with back taxes we can help and I mean real help, not the kind you see on television.  5. Online Financial Management Reporting For Contractors The number two reason contractors buy QuickBooks is to get financial reports.We have come to an agreement with Fathom, the developers of the Financial Statement And Strategic Management Reporting Tool and we have integrated into our Unique Contractor Bookkeeping Workflow System For Contractors In U.S.A. We feel so strongly about how this tool and all of the ways it can help you operate and grow your contracting company that it is FREE for our clients!The key difference between this reporting tool and plain QuickBooks financial statements is the data is customized specifically for your Contracting Company and it will help you understand what the numbers mean; where you are making and losing money, so that you can make informed decisions which can increase your cash flow and profits.This reporting tool has a lot of information with easy to follow explanations in short paragraphs to help you make sense of it all. The goal is to provide you with insights and answers to help you operate and grow your Construction Contracting Company, put additional money in the bank, give you more freedom and greater peace of mind. If QuickBooks Is Not Giving Useful Reports No Reporting Tool Can Fix That! What typically happens is you or your bookkeeper spends 100's or 1,000's of hours inputting checks, bills, receipts and other documents and every time you run financial reports something looks strange and you begin to suspect something is wrong with QuickBooks.After researching the problem you discover your QuickBooks setup was done wrong. Your QuickBooks was setup for a company that needs regular accounting not construction accounting. The Only Solution Is Find someone who can setup QuickBooks for construction! We can help Call Sharie 206-361-3950 [email protected] I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0153 And It Will Be About Unique Contractor Bookkeeping Workflow For Contractors In U.S.A   Paperwork, Can't Live With It, Can't Be A Contractor Without It! It is one of your biggest headaches, heartaches and backaches! It gets in the way and keeps you from getting things done! It reminds you of doing homework when you were in school! You did not open your construction company to be a desk jockey What If We Could Cut Your Paperwork Chores In Half AndProvide You With Useful Information Anytime You Want It?   I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0152 And It Will Be About Contractors Who Tried Using QuickBooks And Got Professional Help Has This Happened To You? Your Construction Company was a bit disorganized and there were piles of paper on the dashboard of your truck, behind the seat, on the passenger seat, on the floor, in every pocket of you coat, shirt, pants and inside your lunch box and on your desk at your home or office? So you bought QuickBooks thinking it would solve all your paperwork issues and your contractor bookkeeping issues? Instead you found yourself inside a bigger mess and deeper hole than ever because QuickBooks is anything but Quick! QuickBooks advertisements made it seem so simple that even a child could setup QuickBooks in less than an hour. So you thought I can do this. I can setup QuickBooks for my construction company and it will magically sort all of the paperwork and do all of the accounting for your Contracting Company in 10 minutes a day or less. QuickBooks sells software to contractors a little bit like Home Depot sells material to "Weekend Warrior Homeowners" who think they can save time and money by doing construction projects themselves. Home Depot generates a ton of leads for contractors by putting on Home Depot Free Weekly Workshops & Home Improvement Workshops. Can a homeowner "Learn To Paint Like A Professional", "Get The Skills To Install A Toilet", "Learn The Skills To Install A Backsplash" or "Install A Light Fixture" in a 90 minute class? Of course not!Does Home Depot sell a lot of material and supplies with this brilliant marketing idea? Of course they do! What normally happens is the homeowner attends the workshop in the morning, buys the parts, goes home, tries installing them, runs into trouble and then calls you!The same thing happens when contractors buy QuickBooks and try setting up QuickBooks using the Easy Step Interview. You waste a lot of time, money, blood, sweat and tears and end up with a mess and you live with it until the pain becomes unbearable then you seek professional help.Or worse yet you hire a Cheap Bookkeeper who thinks they know how to setup QuickBooks for Contractors. By the time you figure out they know nothing about Construction Accounting it is too late. They have driven your Contracting Company off the highway of success into the ditch of destruction, turned it upside down, poured gasoline on it, lighted it on fire, walked away, told everyone that you don't know how to run a business and you are left stranded on the side of the highway, eyes wide open, with tear stained cheeks watching in horror as everything you have worked for goes up in smoke! There Is A Better Way QuickBooks Was Never Designed Just For Contractors It Is Designed To Sell QuickBooks To Contractors Who Seek Professional Help From ProAdvisors Who Know EXACTLY What You Want And How To Setup QuickBooks! I Love QuickBooks and have used it since it was released as QuickBooks 1.0 DOS® in the early 1992 for roughly $100. It was ten times better than the custom built Construction Accounting Software that cost us over $60,000 which we were using for our construction companies and doing the accounting for few contractors that we were providing bookkeeping services.There was a bit of a learning curve; however, having a background in construction with a specialty in construction accounting I was able to make QuickBooks work for us. Today we have an entire system to Setup QuickBooks for any Contractor with annual sales between $0 to $10,000,000.Fast forward to 2000 when we sold our last construction company and began focusing on growing our Outsourced Contractors Bookkeeping Service is when we really poured a lot of blood, sweat and tears into developing our Contractor Bookkeeping System.A key part of this Contractor Bookkeeping System was developing a QuickBooks Template that could be used by small Construction Companies from startup to $10,000,000 annual revenue including: ·    General Contractors·    Custom House Builders·    Speculative House Builders ·    Commercial Tenant Improvement Contractors·    Handyman Contractors·    Residential Remodel Contractors·    Trade Contractors·    Subcontractors·    Specialty Contractors·    Land Developers·    And Contractors Who Do It All!The biggest challenge was that we understood the difference between Construction Accounting and Regular Accounting at a deep level. Which means we knew why QuickBooks out of the box was not designed to work well with Contractors.We knew that if we committed enough time, money and resources we could develop our own Customizable QuickBooks For Contractors Template with all of the Chart of Accounts, Item Lists and other enhancements that would work well for any small Construction Company All Across The USA Including Alaska And Hawaii.Here we are several decades later and our Customizable QuickBooks For Contractors Template is working great and we continue to add dozens of minor enhancements every year. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0151 And It Will Be About Why Successful Contractors Use Professional Bookkeeping Services What You Should Expect From Your Bookkeeping System? The first and most important principle in Construction Accounting is everything starts with Cash because Cash Is Fact; Profit Is An Opinion. All transactions in the bank account of your construction accounting system no matter if it is QuickBooks or Xero must be assigned to the proper accounts: Income Job Deposits Payroll Taxes Cost of Goods Sold (Direct and Indirect Costs including Labor, Material, Other and Subcontractors. Other costs including permits, plans, bills from suppliers and purchases on your personal credit cards. Overhead Second Important Principle In Construction Accounting Tracking Income properly, Knowing how, when and where to put Customer Estimates, Customer Invoices, Customer Job Deposits and any Retainage Withheld, Vendor Refunds and Rebates. Good Construction Accounting Is All About the Details Payroll entered into QuickBooks (Employee, Check and Tax Detail depends on the Payroll Service used). Bank Reconciliations, Credit Card Reconciliations including Home Depot and Lowes, Vendor Statements verified and matched against invoices. The Answers You Need To Operate And Grow Your Construction Company Are In Reports To get accurate reports the paperwork details must be entered into your QuickBooks by following The Construction Accounting Method NOT The Regular Accounting Method. The old saying “Garbage In = Garbage Out” is 100 times more true when it comes to Construction Accounting. When your bookkeeper takes shortcuts in the data entry, for example entering bulk numbers from credit statements for expenses in bulk instead of entering each transaction your Financial and Job Costing Reports are totally worthless. You Need To Know Who is your customer, how much have you billed them, are there unbilled change orders? If you do not tell your bookkeeper and they do not put the information into QuickBooks how will you ever know, let alone get paid? Who do you owe money unless you tell your bookkeeper? Who did you purchase material, labor, subcontractors, other items from, when and was it paid with cash, check, credit card or put on the charge account? If you do not tell your bookkeeper and they do not put the information into QuickBooks how will you ever know what the Job Costs are let alone Job Profitability? QuickBooks needs to know how to allocate the costs (money spent) to give accurate Job Costing reports. foundation of data has been entered properly.Balance Sheet Report reflects the heath of the business – again QuickBooks can only report on the information given.   What kind of Basic Financial Reports can using Fast Easy Accounting’s Customized Setup Provide?   Every Contractor Should Have These Reports No Matter Who Is Doing The Bookkeeping. The Next Layer of Construction Accounting. Here is where someone who knows Construction Accounting should be doing the bookkeeping.  Many bookkeepers say they know Construction Accounting but are “Clueless About Doing Construction Accounting”. Just like many people know about being a passenger on a commercial jumbo jet but people “Clueless About Piloting A Jumbo Jet”. Hint: a good clean, easy to understand QuickBooks setup does not need class tracking unless your construction company has multiple locations.What kind of Job Costing Reports can using Fast Easy Accounting’s Customized QuickBooks Setup For Contractors Provide? Job Profitability Summary Summarizes the profits your Construction Company earned from serving each construction customer within the date range you selected on the report. The Key Column Is the Percentage (%) of Difference. This tells you which customers and clients are profitable and which ones are not. In this example it is Sam Hill is in the top twenty percent (20%) and Henry Mancini is in the bottom eighty percent (80%).In Most Cases When I run this report for a contractor, after we have finished cleaning up QuickBooks, the contractors are amazed because more often than not their "Friends and Family" are the least profitable and the customers who make very little fuss or cause problems are the most profitable.Profit & Loss by Job Shows you how much cash and profit you are making or losing on each job depending on the date range you selected. The Key Column Is the Percentage (%) of Income. This tells you which of your customers are most profitable and least profitable. In this example it is Sam Hill is in the top twenty percent (20%) of the income scale and Henry Mancini is in the bottom eighty percent (80%).Unbilled Costs by Job Report shows you a list of costs assigned to a specific customer or job that has not been billed.The Key Column Is the "Billing Status" because as new costs are added this report will grow and as existing costs are Billed this report will shrink. Also any jobs that are Fixed Bid that appear in the "Billing Status" will need to be opened and fixed otherwise this report will become cluttered and useless.Every Ninety Days Or Less Replace your least profitable customer and replace them with someone who is like the people in the Top Twenty Percent (20%) and watch your profits soar!Fast Easy Accounting website can have so much detail that people get lost on it. So here is the short version of What We Do: We Setup QuickBooks For All Kinds Of Contractors Handyman, Home Builders, Commercial Tenant Improvement And Specialty Contractors  Brand New Contractors    HVAC Contractors       Carpentry Construction     Insulation Contractors       Carpet Installers    Interior Designers        Commercial T. I. Contractors    Land Development Contractors       Concrete Contractors     Landscape Contractors        Construction Managers     Masonry Contractors        Custom Deck Contractors    Mold Remediation Contractors       Custom Home Builders    Painting Contractors        Demolition Contractors     Plumbing Contractors        Drywall Contractors     Pressure Washing Contractors       Electrical Contractors     Remodel Contractors       Emerging Contractors    Renovation Contractors        Excavation Contractors     Restoration Contractors        Finish Millwork Contractors    Roofing Contractors        Flipper House Contractors    Spec Home Builders       Flooring Contractors    Specialty Contractors       Framing Contractors     Subcontractors       General Contractors     Trade Contractors       Glass Installation Contractors    Underground Contractors       Gutter Installation Contractors    Utility Contractors       Handyman Contractors         We provide QuickBooks Cleanup of existing transactions, enter Missing Transactions and provide ongoing Contractors Bookkeeping Services. We have a vendor who hosts QuickBooks (Desktop Version) in the Cloud Environment using a Commercial Host approved by Intuit (makers of QuickBooks).Using 3rd Party Software that is user friendly to QuickBooks (not all 3rd Party Software works as well as advertised) we make the data collection of receipts and sending bank and credit card statements easy for our clients.  With our web based financial reporting tool, our clients are able to review their financial statements 24/7; it comes with explanations in an easy to understand language with format (words, pictures and graphs) for the busy contractor without an accounting background to quickly review and make sense of the number.  More detailed Job Costing Reports are available inside QuickBooks.     Why you need a Good Accounting System is to provide more answers than what the TAX Accountant needs to do your annual Federal and State Taxes. By the way NEVER EVER LET YOU TAX PREPARER DO YOUR CONTRACTOR BOOKKEEPING. Click here to learn why.All construction contractors should be profitable....and IF and job is Not it is because the Construction Contractor made the informed decision to give the customer “A Bargain; because…..” not that they gave the customer a “Wild Guess” and had to take money out of their personal household funds to pay for the expenses of the job.I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person.We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs   This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0150 And It Will Be About 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 [email protected] After years of painstaking research and hundreds of hours testing dozens of ways for contractors stop wasting time trying to get organized and fighting the paper work nightmare.  We have finally found the one document management software For Contractors that is simple, easy to use and the software developers understand what we need to support our contractor clients. 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! This new document management software for our Outsourced Contractor Bookkeeping Clients will download bank and credit card feeds into a secure paperless server which they access anytime day or night. Imagine being able to know exactly what you sent your Contractors Bookkeeping Service and being able to access the paperless filing cabinet anytime day or night from your phone, tablet, laptop or PC. It works with Windows and Mac. This is a gift we are offering to our loyal Outsourced Contractor Bookkeeping Clients that we are paying for because we believe it will make everyone's life easier and smoother where the bookkeeping is concerned. After we setup your new paperless inbox for your contracting company you will receive a welcome email from the software supplier and we ask that you read it carefully and when you are ready please contact their support desk and they will help you setup your bank and credit card feeds. All new documents can be sent to paperless inbox because this new system is replacing our current paperless inbox. The feeds do not give anyone any access to your accounts, just the information we need to put into QuickBooks which is why we like this option. It downloads the existing transactions to the paperless server where we can access the data and put it into your Contracting Company QuickBooks Desktop version which is hosted on our Intuit Approved Commercial Hosting service. We believe this will help provide faster services and keep your QuickBooks more current. We are continually searching for more and better ways to remove time wasting paperwork chores so you can focus on what you do best, running your construction company.We are always looking for ways to save construction contractors like you time and money. Unfortunately, most of the thousands of apps, software and hardware we are introduced too is worthless. Less than 1% is worth a first look and 50% of those never make it to through to beta test where we will actually test it and of the ones we test 20% are actually put into our practice and only 50% of those ever get recommended. This means out of 2,000 products and services we are introduced to only 1 ever gets recommended and in most cases we do not accept any compensation for referring it to our clients. In a very few cases we feel so strongly about a product or service that we will actually pay the cost of it and give it away for FREE! We Feel So Strongly That We Are Paying The Cost And Providing It FREE To Our Loyal Outsourced Contractor Bookkeeping Services Clients I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0149 And It Will Be About Streamlining Your Contracting Company With Our Free Checklist You are an intelligent Contractor which means you know how to operate your construction company and the biggest barrier to your success is getting your employees to do what you want them to do, when you want them to do it, and do it the way you know works best. Contractors who are Process Dependent Vs. People Dependent always makes more money and enjoys more freedom and peace of mind over Construction Company owners who are in constant chaos making the same decisions over and over. The difference between Success and Failure is simple and easy. Change a few simple things in your thinking and what you will tolerate and you can change your construction company and make dramatic improvements in your cash flow, profitability and the amount of freedom and enjoyment you will get out of your life. Success - Is a few simple disciplines practiced every day! Failure - Is a few simple errors repeated every day! The first step to moving your construction company from a People-Dependent-Chaotic-Neurotic-Maddening-Disorganized-Money-Losing-Life-Sucking-Money-Pit to a Process-Dependent-Money-Machine is developing simple checklists and expanding them over the course of time. Click To Download FREE Checklist Template If You Want Highly Qualified And Experienced Mentors To Guide You Step-By-Step In Setting Up A Working Business Process Management System For Your Construction Company contact Sharie.  Call Sharie 206-361-3950 [email protected] Do you own and operate a small construction company? Have you ever wondered if having a consultant with construction expertise to call on and ask questions would help you? Are you concerned you cannot afford one? When my partner, Sharie DeHart and I, were running construction and plumbing service and repair businesses beginning in the early 1970's until 2000 we felt we did not need to pay anybody to tell us what to do because we knew exactly what to do. After several very painful and extremely costly mistakes we found the adage "Experience Is The Best Teacher...And The Most Expensive" to be oh so true!We found ourselves, our family, employees and suppliers were all riding on our Roller Coaster of Surprises, some good, some bad. On occasion we would wake up screaming bloody murder only to discover it was the middle of the afternoon and we were not asleep! After a while we decided perhaps there was truth in the adage "If you think education is expensive, try ignorance". I will admit I was a bit arrogant thinking since I was raised in a family of contractors that I knew a lot about construction. In fact I knew quite a bit about what Michael Gerber calls "Working In The Business But Not On The Business" At that point in the late 1970's we decided to move to The Merry-Go-Round of a business with a Strategic Plan that could grow-up and provide us with a more predictable result Books, Tapes, Seminars and Guru's For the next several years we added a combined total of over 4,000 books, cassette tapes, VHS video tapes, workbooks, and several hundred handouts from every How-To-Do-It guru we could find.And we were still not getting anywhere fast because the seminars are like energy drinks, they pump you up and after a week or two in the real world we were beaten down again. It was a roller coaster again. Be, Do, Have In time we found several consultants and professionals some good, some bad, some nightmares and one in particular kept repeating Be, Do, Have. Be the person, Do the work, Have the results. In life we produce reasons or results and, reasons don’t count. Having experienced success and failure a number of times this message slowly sinked into my head. We discovered that success came fast and easy when we engage the services of mentors that are skilled in construction because they were where we wanted to be. We even hired a few consultants that were worthless because they had no construction experience and could only teach what they had learned in university or by hanging around hyped up seminar presenters selling Get-Rich-Quick-Schemes to rooms full of desperate people. Tips To Find The Right Contractor Profit And Growth Consultant: Make sure they have hands on experience in your profession. Preferably a Journeyman License, Certifications or some kind of external proof of their experience. Though the dogs (people who think you should tough it out and go it alone) may bark the caravan (long line of successful people with consultants on their team) moves on. Choose wisely the six people you spend the most of your time with as leveling is always occurring.  Does your consulting sessions take place in a safe nurturing environment? Is what you think, believe or feel is important the topic of conversation? Are you judged or criticized for anything you say or do? Is your consultant brainstorming with you on a management to management level about your issues and concerns? Does your consultant suggest working with a Board of Advisors? Do you feel you can do a brain dump in a safe nurturing environment? Are your specific problems and/or issues being addressed? We Would Like To Work With You We will spend a full hour with you at no charge so that both of us can determine if we are a good fit. If there is mutual agreement to move forward we will customize a program to fit your budget and your needs. As a part of our program we will complete our analysis and present you a report on a regular basis:·    You decide what to do with the information·    You make changes or stay the same·    You want to some show and tell, visual people·    You may want RD to tour your facility or office·    You may decide to have us setup 5x5x5 QuickBooks KPI Reports·    It is not about what we think, believe or feels is important·    The focus is always on you, what you think, believe or feel is important·    We offer Trust / Competence / Understanding I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0148 And It Will Be About QuickBooks Year End Closing Tips For Contractors Taking a bit of time to clean-up QuickBooks and prepare it before giving it to your tax preparer could save you hundreds or even thousands of dollars in income taxes. Download QuickBooks Year End Checklist Here Several years ago the accounting departments of smaller construction companies with less than $10M in annual sales had to slog through dozens of mind numbing General Journal Entries in order to "Close The Books". With QuickBooks that process is mostly automatic. There are still a few things the accounting department needs to do. The easiest method is to open QuickBooks and go to the help menu and click on the "Year End Guide". A QuickBooks Year-End Guide wiil pop-up. It may vary depending on the version of QuickBooks you are using. When you click on a task with your mouse the help screen for that task pops up and guides you through the process which normally takes several hours depending on the amount of bookkeeping data in your QuickBooks file and how complex your construction accounting system is setup. If you need help contact Sharie 206-361-3950 or [email protected]  Get Ready For The Tax Preparer Step-By-Step1.    Gather Receipts Into One Container2.    Review Personal Bank Statements - Business3.    Review Business Bank Statements – Personal4.    Reconcile Bank And Credit Card Accounts5.    Verify Petty Cash Entries6.    Invoice Unbilled Work7.    Money In (Accounts Receivable)8.    Inventory Count By December 31st9.    Fixed Assets Balance And Depreciation10.    Money Out (Accounts Payable)11.    Retirement Contributions - 401 (k), IRA, Etc.12.    Notes Payable, Loans, Mortgages, Credit Lines13.    Mileage Log / Each Vehicle / Business Use14.    W-9’s From Vendors & Contractors Over $60015.    Payroll Tax Deposits Match Quarterly Returns16.    Verify Profit And Loss - Does It Make Sense?17.    Back Up All Your QuickBooks Data Onsite And Offsite When Your Computer Crashes Your QuickBooks Data Is Gone Forever!We strongly recommend you have a basic disaster recovery plan in place. If your QuickBooks is resting on our QuickBooks Desktop In The Cloud Intuit Approved QuickBooks Hosting service that has multiple backup procedures in place you do not need to back up again. We have prepared a PDF checklist you can Download QuickBooks Year End Checklist Here There is nothing to fill out, simply click on the button and download it to your heart's content. We offer QuickBooks year end closing services if you prefer not to do it yourself or rely on someone who only does it once a year and the prices are very reasonable.If you find that QuickBooks is not doing what you want it to do and not giving you the reports you want you may want to consider trying Xero Accounting Online. We offer both Xero and QuickBooks bookkeeping services for construction contractors and have found the dividing line is how you get paid. QuickBooks Works Best If You1.    Take Job Deposits2.    Have Change Orders3.    Issue Multiple Invoices4.    Need Job Costing Reports5.    Need Payment Applications6.    Periodic Invoices For Bank draws7.    Need Complex Construction Accounting Reports Xero Accounting Online Works Best If You1.    Have Simple Jobs With One Invoice2.    Need Basic Key Performance Indicator Financial Reports We Make Getting Started With Xero Painless!Do you want to use Xero Accounting Online, but dread moving everything from QuickBooks or some other accounting software? We can do it all for you:·    Enter all of your year to date transactions·    Enter all of your Accounts Receivable (Sales)·    Enter all of your Accounts Payable (Purchases)·    Previous year end bank, credit card and other account balances·    Activate your bank and PayPal feeds for downloading into Xero·    Enter all your customer and vendor contact information·    Contact Sharie 206-361-3950 or [email protected]·    Set up your organization in Xero Accounting Online·    Prepare an application for Tax-ID number, if needed.·    Set up your Chart of Accounts·    Connect your bank and PayPal feeds·    Give you a tour of the system and how it works·    Provide ongoing virtual CFO support (We are more than bookkeeping services provider!) Contact Sharie 206-361-3950 or [email protected] Pricing Depends Upon the number of accounts, invoicing frequency and number, average daily transactions, number of employees, the amount of business coaching and virtual CFO services you want. We offer MANY other customization options so please ask. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0147 And It Will Be About Handyman Contractors Enjoy Steady Profits, Low Risk, Long Term Wealth Handyman Contractors Are Very High Profit Low Risk Construction Niche. Lately we have been tracking how many new clients own and operate Handyman Companies and the results are surprising. We have always known them to be a high-profit low-risk type of business that for the most part is not as severely impacted by ups and downs of the economy. Nowhere near other segments of the construction industry When the economy slows a predictable shift takes place: Spec house builders start building custom homes and lose money because the dynamics of Spec Vs. Custom.  Custom home builders feeling competitive price pressure from spec house builders start doing remodels lose money. Remodel contractors feeling competitive price pressure from custom home builders become handyman and lose money. Handyman contractors notice some of their opportunities dry up so they tend to have more time for add-on sales. When the latest recession began in early 2009 contractors were hit especially hard and are just now beginning to recover. If you earn your living as a handyman here is some important information just for you starting with a Podcast interview of Dan Perry founder of Handyman Startup. As a Handyman contractor you can make a lot of money because you take care of the things most husbands, homeowners and some small retail stores hate doing because by the time they figure out what to do, make the required three trips to the hardware store they realize the time and energy they wasted could have been put to more productive use. Do it right and you can build a base of repeat and referral clients which can earn you a net income of over $75,000 and in many cases over $100,000 a year. If you are inclined to add workers the sky is the limit on your earning potential. Dan Perry Handyman Startup is one of the best sources of information for step-by-step how to setup and run a profitable handyman company. The key is being smart about where you put your time and energy. Do what you do best and outsource the rest. Don't try to save money changing your oil, filter and lube job when you can have it done at one of the quick-lube places. While they are doing it you can do some planning on your tablet, make some calls to line up more work or dozens other productive uses of your time. Keep a paper notepad and pen or pencil in your shirt pocket to jot down notes or if you prefer there are hundreds of "Apps" for your smartphone. I have found the notepad to be more efficient because it is quick and when I get back to office simply tear out the paper, do the task and recycle the paper. You do whatever is best for you. If you work the Realtor market there are several ways to get the word out that you can handle the buyer or sellers punch list to get the home ready for sale or purchase. On the most effective ways for handyman in the Northwest is Footwork Express. In other parts of the USA there are similar organizations. Finally get a good bookkeeper who understands what handymen do, someone who can keep your checkbook and credit cards balanced and reconciled with the bank, prepare payroll if you need it, prepare your Quarterly Tax Returns, discuss the differences between Sole Proprietor, Sub-S Corporation and Limited Liability Corporation (LLC) from a tax and growth perspective, someone and someone who can let you see your QuickBooks Desktop version on the internet 24/7 and provide ongoing business coaching. Handyman Construction Company Like Yours Has Unique Bookkeeping Needs Not Just Any Bookkeeper Will Do - Too often handyman construction company owners hire the wrong bookkeeper mistakenly believing all bookkeepers are the same. Nothing is further from the truth. Not all construction workers are the same. You would never hire a construction worker with a background in new construction commercial work to be part of your handyman construction company 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 business, and the poor family or commercial building owner where you are working on would be extremely expensive for you. For construction bookkeeping you need people trained in construction bookkeeping. 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. Handyman Construction Company Owners - 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. 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. 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.Simple Invoicing - Is what you need most of the time like the FREE Invoice Form you can download here  What You Can Expect From Our Handyman Contractor Bookkeeping Services: Professional Bookkeepers with over 10,000 hours of practice Job Deposit Tracking Quarterly Tax Returns Sales Tax Returns Payroll Processing Payroll Tax Returns, 941 and 940 Contractor Invoicing Work In Progress (WIP) Reporting Pay Application Invoicing For Remodel Projects Pay Applications For Tenant Improvement Projects (TI) Retention Tracking System Insurance Audit Support Service Optional scanner for sending paperwork to us with the touch of a button Five Key Performance Indicator Reports for monitoring your Contracting Company Business Processes Management Business Coaching - Someone who understands your business to talk with Construction Marketing Resources QuickBooks Setup For Construction Company Cloud based desktop version of your QuickBooks Cloud based document storage In The Long Run We Are Less Expensive Cheap Bookkeeper And We Offer Cloud Based Desktop QuickBooks 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  This Is Only The Tip - Of the Iceberg. Everything we publish in our blog posts, articles in other websites, and anything you can find on the web is nothing compared to what is available to you as our client. We show only the basic tools to open your mind to the possibilities that are available to you. The best finish carpentry tools in the hands of a golf professional without proper carpentry training will not produce anything near to what a skilled finish carpenter can. The same can be said about the best construction business consulting and accounting tools in the hands of a skilled finish carpenter. And I say that with respect and admiration for everyone in construction. 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. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs  This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0146 And It Will Be About When Is Outsourcing Your Construction Bookkeeping A Good Idea Outsourcing Your Construction Bookkeeping Works Best When: Your construction company is small with 1-10 employees and doesn't need a full-time bookkeeper. You need someone with more skills than the receptionist or office manager can provide. You need someone skilled in construction accounting who knows how to handle job deposits, progress billings, etc. You don't have the time, energy or money to setup an office, hire a bookkeeper and babysit them! If the bookkeeper is out on maternity leave, or if there will be a vacancy of several months. You need a Contractor Champion who is your advocate helping make certain things get done! Large construction companies have the resources to invest $250,000+ in order to setup and staff a construction accounting system like ours. which gives them everything they need operate a highly profitable construction company. You Can Access Our System Around The Clock For A Tiny Fraction Of The Cost! Why hire a good full-time bookkeeper when in most cases we can do the job, better, faster and cheaper than one lonely bookkeeper. Instead of one bookkeeper when you work with Fast Easy Accounting you get the entire team and rid yourself of the boring mind-numbing chore of contractor bookkeeping! Who Will Service Your Account? You will be assigned a your very own Contractor Champion who is like a concierge at a five star hotel. You get all the services at a fraction of the cost. Your Contractor Champion is someone with a deep background and first-hand experience in construction; having owned or operated a construction company with employees. Someone who understands your specific construction company, the type of work it does and how to make the best use of our contractors bookkeeping services system for you. This person will be your guide, mentor and friend. They are your advocate to make certain you are provided the best possible service and they have the authority to assign resources in the event of an emergency construction accounting situation such as special reports, quarterly tax reports, insurance audits and complex payment applications. Your Contractor Champion monitors the quality and quantity of reports, emails, graphs and other data to make certain you are getting the right amount of information without overwhelming you with useless reports and notifications. Most accounting firms do not specialize in one industry because they want to have a stake in as many camps as possible. This like hiring a Jack-Of-All-Trades and Master-Of-None. In the end they don't have a system and continually operate in complete chaos by assigning each bookkeeper the maximum number of clients humanly possible and hope nothing goes wrong. It is similar to putting all your eggs in one basket, giving it to a raging drunk and hoping nothing happens to them! Human Nature Being What It Is Eventually: Your bookkeeper will get sick Your bookkeeper will get overworked Your bookkeeper will quit or get fired Your bookkeeper will take a long vacation or worse yet never take a vacation Your bookkeeper will have too many clients Your bookkeeper will get another bookkeeper's clients Your bookkeeper may become a burned out Bad Bookkeeper We Help You Become Process Dependent Not People Dependent! Your day to day contractors bookkeeping services is safe and it will be assigned a team of skilled Professional Construction Bookkeepers and Accountants with several levels of construction accounting skills and an internal support system that conducts regular reviews of every contractors bookkeeping system. Just know that someone, perhaps you, your Project Manager or your part-time office assistant will need to code bills, checks and receipts, approving invoices, reviewing time sheets if you want Job Costing. Someone at your office will still need to make deposits, authorize payroll and pay the bills. We can process payroll, do all of the calculations to generate payroll and prepare the Quarterly Reports but you or someone in your office needs to authorize payments because WE DO NOT TOUCH YOUR MONEY! I have written several articles and presented many speeches about the overwhelming amount of theft and embezzlement in construction companies and it is getting worse every day. Click Here To See The Top 21 Signs Of Embezzlement. If you have cash flow challenges that require day-to-day decisions about what to pay and what to hold you will find great value in our services because we have processes and procedures to help guide you out of cash flow crisis management without taking on more loans and debt. We Build Long Lasting Relationships With You And Your Company I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0145 And It Will Be About About Three Ways To Increase Your Construction Company Sales In 30 Days Sell to more customers (hard and expensive) Sell more to each customer (easy and economical) Sell more often to each customer (easy and economical) The First One Is - The hard and expensive way to grow sales. We have analyzed a number of construction companies, that is what we do, and we know roughly what the cost to acquire a new customer is for many different segments of construction; remodel, concrete, plumbing, electrical, service work, handyman and others. Calculate the cost per new customer. This is easy to calculate by looking at your Profit and Loss Report for last year, find the marketing expenses and divide it by the number of new customers your business generated. We recommend you are sitting down and do not have any sharp objects or hot coffee within easy reach so you will not hurt yourself or anyone else. If you are new in business or do not have a large client list we can help you with that. Search "Marketing" at www.FastEasyAccounting.com and you will get a lot of information to get you started. Or you could contact Sharie at 206-361-3950 or by email [email protected] and set an appointment for a No Charge Consultation. The Second And Third Way - Are easier, faster, more profitable and generates a lot of quick cash flow! Think about it, your past, present and future customers like and trust you. And these days homeowners are not a skilled as they were a generation ago or they are not physically able to do the work any longer, which means they are hiring contractors and handyman services. What About Your Customers - Who gave you a hard time or you think maybe they don't like and appreciate you? No worries...you just need to understand what was going on inside their head at the time. They just needed some tender loving care (TLC). We all do, even the rough tough remodel contractors including you and me. What You Need Is A System - To be the one-stop-shopping solution for all your past, present and future client's needs. They already know you, like you and trust you so why not be their contractor for life and when they move to another residence you take care of that one and can continue the relationship with the new homeowners in the previous home. Retire And Sell Your Construction Company - What makes your construction business saleable? Cash flow! McDonalds and every other business that people buy is based on cash flow. No investor wants a bunch of hamburgers, they want a place to put money and get a return on it. Contractors don't buy a drill because they want a drill, they want holes! Hint: Service Agreements I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0144 And It Will Be About The People That Got You Where You Are Cannot Take You Where You Are Going All Construction Companies Have Growing Pains - When you started your construction company it was all you or perhaps you had a partner or somebody who was helping with the office work like answering phones, bookkeeping and running a few errands. Your Construction Company Grew - And you found yourself with problem employees who little by little took over the back office operations and were preventing your business from growing. Here You Realize - The people who got you where you are cannot take you where you are going! It is a harsh reality that has everything to do with change. The only people who embrace change are wet babies and everyone else hates it. Passive Aggressive - Employees in positions of authority and especially Bad Bookkeepers become envious of your success and will destroy your contracting company from the inside like a cancerous infection if you don't replace them. The most common reason is they believe you lied to them! Their paradigm is entrenched and not open to personal growth and change. When they joined your contracting company it was small and fun and not a lot of rules just right and now it is become a profit and money tree just like every other successful contractor.Expansion Isoquants - Are pretty pictures to demonstrate the process of how a construction company grows. When The Economy Is Expanding - Demand for construction rapidly and almost overnight outstrips supply because so many contractors gave up and left the industry.Well Intentioned Yet Unseasoned Contractors - Seize the opportunity to grow their contracting company rapidly by haphazardly bidding and winning projects without giving any thought to calculating their company Expansion Path Isoquants, infrastructure, logistical support, working capital requirements, Job Costs or Key Performance Indicators (KPI).There Is Inevitable Chaos - Caused by too much work and not enough labor, material, other costs and subcontractors (LMOS) leads to the contractor becoming a pipe through which money flows with increasing velocity and not in a fun way.The Answer Is Simple But Not Easy - Which why construction company owners who do the work have the results; cash, capital, freedom and time to do the things they really want to do with their lives while everyone else is looking for a shortcut or an app. Instead use the Contractor Strategic Development Outline.Level One - Dog and Pickup Truck with annual sales roughly $100,000 to $200,000 and a friend or relative doing the bookkeeping.Level Two - Salt of The Earth with annual sales roughly $200,000 to $400,000 and the demands of the business have outgrown the skillsets of the friend or relative doing the bookkeeping. It is time to outsource to Strategic Bookkeeping Services and move the bookkeeper to executive assistant. This is where feelings get hurt and people feel unloved because they gave you the best years of their life (Actually you paid them in cash, perks and benefits) and now you are putting them elsewhere and taking away their power! This is where a lot of construction businesses get stuck because "Environment Trumps Will Power!"Level Three - Professional Small Contractor with annual sales roughly $400,000 to $5 million. This is the "Sweet Spot" where we see a lot of our clients make a lot of money and begin to focus more on what Michael Gerber calls "Working On The Business; Not In The Business" with a Board of Advisors and a business plan.Level Four - Enterprise Contractor with annual sales exceeding $50 million are run by people with a lot of heartburn and stress because they are so heavily regulated and watched by everyone from the laborer in the trench to the board of directors and shareholders.Employees At Each Level - Are not suited to work in the levels above or below. Entrepreneurs like you are the only ones who can transition because you learn to embrace change and when you try to make your staff grow with you it rarely works because they normally will not change.Need A Mentor? - Someone who has been were you want to go and can guide you. We would like to be that person for you. Fill out the form on the right or call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0143 And It Will Be About Your Contractor Champion At Fast Easy Accounting Contractor Champions at Fast Easy Accounting are like concierges at a five star hotel. You get all the services at a fraction of the cost. Your Contractor Champion is someone with a deep background and first-hand experience in construction; having owned or operated a construction company with employees. Someone who understands your specific construction company, the type of work it does and how to make the best use of our contractors bookkeeping services system for you. This person will be your guide, mentor and friend. They are your advocate to make certain you are provided the best possible service and they have the authority to assign resources in the event of an emergency construction accounting situation such as special reports, quarterly tax reports, insurance audits and complex payment applications. They also monitor the quality and quantity of reports, emails, graphs and other data to make certain you are getting the right amount of information without overwhelming you with useless reports and notifications. Your Contractor Champion's Primary Job Is: Answering your phone calls and emails. Your Advocate helping you get things done. Seeing to your needs and keeping you happy. Making sure you get what you want and need. Removing your unique paperwork frustrations. Keeping you away from the ornery Bookkeeping Department. Overseeing your Payroll Processing. Overseeing your Quarterly Tax preparation. Helping you resolve issues with taxes and payroll. Being there when you just need someone talk too. High-Performance Construction Accounting Firm Back Office Is Like: High pressure construction job site with impatient skilled workers. Project Manager (Senior Construction Accountant) oversees everything. Limited time to get work done and everybody moving at a very fast pace. No time for polite conversation buffers like "Please" and "Thank You". A place where outsiders are unwelcome because it could lead to trouble. Being A Member Of The Fast Easy Accounting Team Means Having: Never answering the phone and irritating a client. Very thick skin and not easily offended. The ability to tolerate strong language. Well above average Intelligence Quotient (I.Q.). Low or preferably no social skills. Laser like focus on Construction Accounting. Able to work and perform under extreme pressure. Adaptable to an ever changing set of innovations. Mastering their part of the 200+ software programs we use. When Randal says "We can produce reasons or results, and reasons don't count!" he means it! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0142 And It Will Be About Bookkeeper Training In The Art And Science Of Construction Accounting Is Your Bookkeeper A Keeper? Do You Want To Keep Them For As Long As Possible? Do You Wish They Were Better At Construction Accounting? 50% of the problem is QuickBooks setup was done wrong and it causes you, the contractor, lots of pain and agony. 30% of the problem is knowing how transactions for your contracting company are different from regular bookkeeping. 20% of the problem is your Bookkeeper doesn't love solving puzzles and detective work; they are in the wrong profession. You can fix the first two problems with some outside help from us and some proper training. The last one nobody can fix. The fact is you are paying dearly for their education to learn construction bookkeeping and accounting but you just don't know it. You are paying with all of the mistakes that are being made, overpaying bills, taxes, payroll errors, unbilled work, late or misfiled Quarterly Tax Returns and more. We Offer Construction Accounting Training Options Including Onsite And WebinarsQuickBooks Training Live Instructor Led Webinar For Contractors QuickBooks Training Introduction WebinarsFour Hour Class Only $97.00! Click Here To See QuickBooks Training Options The perfect QuickBooks For Contractors training class for new QuickBooks users who want a fast start. To register go to www.fasteasyaccounting.com/qtc For experienced QuickBooks For Contractors users working with construction companies who want a refresher course strengthen their QuickBooks for Contractor and Construction bookkeeping services skills to get even more from QuickBooks. Choose the Morning or Afternoon session and you will not spend a lot of time away from the office. These QuickBooks Training Programs are open to everyone not just contractors. We also offer these QuickBooks Training Programs in classroom setting at our headquarters in Lynnwood Washington. Your Instructor 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 Construction Accounting Services for small construction companies across the USA. Certified as a Project Management Professional (PMP) and an Intuit QuickBooks ProAdvisor. He is a QuickBooks expert having used QuickBooks from its first release in DOS version in the early 1990's through the most current version. His construction experience includes new construction, commercial tenant improvement, residential remodel, service and repair, Commercial Journeyman Plumber (PL01) and owner operator of several construction companies, Project Management Professional and construction accountant. His background provides a unique perspective which allows him to see the world through the eyes of a contractor, project manager and accountant and most important a construction accountant. This quadruple understanding sets him apart from other Intuit QuickBooks ProAdvisors and accountants in the arena.QuickBooks Training For ContractorsWe Serve Over 100 Types Of Contractors so please do not be concerned because if you are a contractor there is a good chance we can help you! To register go to www.fasteasyaccounting.com/qtc QuickBooks Training WebinarQuickBooks Training Program Webinars - Will be offered using an online meeting service and you will receive and downloadable copy of the workbook which you can print or for an additional fee we can send you a printed copy. You Will Need High Speed Internet Access - If you have dial-up internet access, we strongly recommend that you get access to high-speed internet for your class. You Will Need A Computer With - Speakers or headphone jack in order to hear the instructor via your computer. You'll be able to ask questions via chat or out loud if your computer is equipped with a microphone. A Quiet Location Without Interruptions - To avoid distractions, we recommend you find a location where you won't be interrupted and can focus on the material.QuickBooks Training For Contractors Overview Bring A List of Your QuickBooks Questions - This is your golden opportunity to have a QuickBooks expert to answer all of your QuickBooks questions except QuickBooks For Contractors or construction accounting. Make a list and bring it to class. Your instructor will do their best to answer all your questions. In Depth Questions About QuickBooks For Contractors - Construction accounting issues and anything to do with your specific QuickBooks or QuickBooks For Contractors file are covered in the Private QuickBooks Training Programs. Call Sharie 206-361-3950 or email her [email protected] for more information. QuickBooks Training For Contractors - Designed for those with a basic understanding of QuickBooks including at least six months hands on experience; however, it is not required to attend this webinar. If you would like a basic understanding of QuickBooks you may want to enroll in one of our QuickBooks Training General Business Programs. We offer them in webinar and classroom format Click Here for details. For more information contact Sharie 206-361-3950 or [email protected] QuickBooks Training For Contractors Details: ·    Class size is limited to ten people·    The same class is offered morning and afternoon.·    See QuickBooks Training Schedule on left for dates.·    All Times Are Pacific Standard Time (PST)·    Morning Session 09:00 AM - 01:00 PM (PST)·    Afternoon Session 02:00 PM - 06:00 PM (PST)·    $97.00 Per Attendee And Per Session.·    The Current QuickBooks version will be used.·    Private QuickBooks classes offer more choices contact Sharie 206-361-3950·    Click Here For QuickBooks Training Calendar QuickBooks Training For Contractors Outline ·    Introduction To simple QuickBooks Setup for a small construction company·    Introduction to Items and Accounts for a construction company·    Introduction to Direct Construction Costs and how they are used in construction·    Introduction to Indirect Construction Costs and how they are used in construction·    Introduction to simple data entry required for a construction company·    Introduction to QuickBooks Progress Billing and tracking·    Introduction to Change Orders and how to manage them properly·    Introduction to Job Deposit Tracking including setup of Accounts, Items and Icon Bar·    Introduction to Estimates Vs. Actual Reports for construction progress billing·    Introduction to Retention Tracking and Invoicing·    Introduction to Work-In-Process setup and tracking - Cost of Goods Sold Based·    Introduction to Job Costing Setup·    Introduction to Job Costing Reporting·    Introduction to Payment Applications for complex projects with draw schedules·    Setup the Five Key Performance Indicator Reports in QuickBooks Summary Mastering Construction Accounting is a skill that requires a minimum of 10,000 hours of intense training and practice and many volumes of instruction manuals and workbooks. Our Intent is to provide a brief overview of QuickBooks For Contractors bookkeeping services. It is not to provide you with all of the skills to become a fully qualified QuickBooks For Contractors construction accountant able to serve all of the construction companies listed above but to provide you with training in order to handle most of the QuickBooks For Contractors needs in your construction company. Ongoing Support we offer fee based ongoing support for QuickBooks and QuickBooks for contractors regardless of whether or not you have taken any of our QuickBooks Training Program For General Business or our QuickBooks Training Program For Construction Contractors. For More Information Contact Sharie 206-361-3950 or [email protected] Or visit www.fasteasyaccounting.com/qtc I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0141 And It Will Be About Ten Solid Reasons Not To Have A Bookkeeper In Your Home Office Recently a contractor and his wife came to our Construction Accounting office in Lynnwood Washington and related a rather interesting story about a freelance bookkeeper that was coming into their home office where they are operating a small construction company to work on their QuickBooks For Contractors company file.They told how the freelance bookkeeper they hired never could get the bank reconciliation window in QuickBooks to match the bank statement. The bookkeeper would do a forced reconciliation which only compounded the problem causing their Financial Statements and Job Costing Reports to be less accurate and not as useful to them as they needed.In addition to several major bookkeeping errors the bookkeeper insisted that she never did anything wrong and it was the bank's fault if she could not reconcile the bank statement with QuickBooks.Furthermore the contractor and his wife were severely agitated because the freelance bookkeeper was caught in the master bedroom going through the couple's jewelry box and regularly inspecting everything in their bathroom medicine cabinet.They had read several articles on our blog and a few dozen web pages on our website Fast Easy Accounting and listened to some of my PodcastsTen Solid Reasons Not To Have A Bookkeeper Come To Your Home Office#01 - A Stranger In Your House. Yes you may be letting your construction workers come inside your home office but they rarely stay more than a few minutes and most of them are more interested in what is going on at the job-site than what is going on in your home and if they wander off into parts of your home they shouldn't you or your spouse or children are likely to notice and report it to you.#02 - Going Through Your Belongings. Bookkeeping is boring and tedious which means the bookkeeper may need a break or a distraction. Since the bookkeeper is inside your home their movements tend to go unnoticed. Some bookkeepers are curious about what you have in your medicine cabinet, jewelry box, petty cash drawer and who knows what else they may find interesting.#03 - Blackmail Opportunities. Many times contractors have told us about how the bookkeepers have snooped around the contractor's email, USPS mail, in their desk drawers and listened in on phone calls looking for opportunities to Get-Rich-Quick by finding something to black-mail the contractor with. In one case a Bad Bookkeeper discovered the contractor was having an affair with another married woman and used the information to get a raise in pay and be promoted to Office Manager. It lasted for a short while until the contractor broke off the affair and fired the Bookkeeper/Office Manager.#04 - Wrongful Termination. Wow! This is a big one! You do not have an employment agreement with your staff or a Letter of Engagement with you freelance bookkeeper and you decided to be like Donald Trump and say "You're Fired!" The next thing you know the bookkeeper has filed for Unemployment Benefits and shortly after that you get a letter from his or her attorney asking why you terminated their employment without just cause? Be prepared to hire an attorney and spend lots of money to make up for the poor mistreated bookkeeper's pain and suffering.#05 - QuickBooks Is A Disaster. No surprise there. You thought all accounting was the same and since the bookkeeper you hired worked for another construction company for several years before they filed bankruptcy they should know and understand construction accounting. In most cases not so because there is a world of difference between construction accounting and regular accounting. Look inside QuickBooks Chart of Accounts and if you see less than 25 Cost of Goods Sold Accounts chances are you have a regular bookkeeper, not a construction bookkeeper.#07 - Bookkeeper Working In Your Home Office Can Embezzle Easier. Bookkeeper embezzlement is on the rise and the first thing any embezzler has to do is gain your trust. What better way to start then being invited into you home, the place where you are supposed to feel the most safe and secure. Click Here To Learn About The 21 Signs of Bookkeeper Embezzlement to protect yourself, your family and your assets.#08 - Food Poisoning Or allergic Reactions. You have food and beverages in your house and some of the containers have been opened or never sealed in the first place like the milk jug, soda pop bottle, leftovers, fresh baked goods or any number of food and beverages. Unless you have a food handler's license or permit and the appropriate safeguards in place like a five star restaurant and a commercial restaurant liability insurance to protect you (I doubt your construction company liability policy will be much use, check with your insurance agent) and your bookkeeper becomes ill guess who is likely to pay all of the medical bills, time of work, rehabilitation and pain and suffering? You! And get in line with all of the other business owners who said "Nobody told me not to serve unsealed food and drink" because ignorance is no defense.#09 - Sexual Harassment. It is too easy for the bookkeeper to claim since sexual harassment since he or she is inside a private residence and not in a public place like an office building where there are more people. And just know it can be very costly for you, the big bad contractor or your spouse to defend the claim regardless what happened or did not happen.#10 - Your QuickBooks Files Walk Out The Door. Most contractors with a home based business never back up any of their files and especially there QuickBooks files and when the bookkeeper decides to leave all too often it is because QuickBooks is a disaster and in some cases they simply download it onto a flash drive and take it with them to hold for ransom, their final paycheck or payment. The poor unfortunate souls who do think they are backing up their QuickBooks files rarely get the chance to test the system until the try to restore a bad, corrupted, lost or stolen QuickBooks file and that is when they find out the hard way there a several data files that go into making QuickBooks work. It is not like backing up an Excel file or Word document. Most commercial backup services like DropBox.com and Box.com make it clear in their license agreements that QuickBooks file backups are not guaranteed to work. I will not even go into the number of contractors who thought the QuickBooks backup system inside QuickBooks works, google "why doesn't my QuickBooks backup work" and see for yourself. The only sure way we have found is to have our own web server inside an Intuit Commercial Hosting Environment. The Final Statement From The Contractor's Wife Is Priceless "I will never have to meet you again (Sharie), you will never come to my house because with technology we can make everything work." I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0140 And It Will Be About Thanksgiving Day Please Join Us In Thanking All Contractors And Their Workers Thanksgiving Is A Time - To give thanks for all that we have and for the men and women who are part of the greatest industry on earth, Construction. You make civilization possible for everyone! Construction Is - The oldest industry in existence. Everything started with The Builder, and He had a Son who was a carpenter and everyone who was, is and will be part of the construction industry has a special connection to The Builder and His Son. The difference between Atheists And Christians is so close yet so far away. Click Here For A ComparisonConstruction Gets Deep - Inside you and will not let go and that is why Sharie and I co-founded Business Consulting And Accounting to still be a part of the construction industry and spend time with the people we love, admire and respect.Construction Is - A tough business and people failure is common. In fact 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.A Lot Attention - Has been focused on companies that have achieved a level of success and it is important to recognize and thank all of the men and women who serve everyone with their commitment to be a part of the construction industry.  Construction Is - What makes civilization and a civilized society possible. It is because of their commitment to step out of their comfort zone to start, own and operate construction businesses that we owe a great debt of gratitude.I Thank God That I Was Raised In - A family that was involved in construction which meant there were plenty of opportunities to help after school. There was never any pressure and it was not something that I had to do; I just felt it was important to do my fair share to help, and yes I was paid in relation to what results I provided. Shortly After High School - I married my high school sweetheart, Sharie, and here we are thirty eight years later still on our honeymoon, life is good! I decided to leave construction forever and join the white collar world.My College Major Was Accounting - After working in an accounting position for a short time I decided to go back to construction. I served a Plumbing apprenticeship; passed the Washington State Journeyman Master Plumbers Exam and became a PL01 in 1981.I Still Maintain - Journeyman Plumber PL01 status by keeping up with the continuing education credits, re-testing and re-certifying because once in a while I do a little plumbing, just for fun.Every Thanksgiving - Please offer a word of thanks for all the men and women who have chosen to be a part of the greatest industry in the world; construction. Happy Thanksgiving 2015 To All Contractors Your Families And Your Loved Ones! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs This guide will help you learn what to look for in outsourced construction accounting services. Need Help Now? Call Sharie 206-361-3950 [email protected] Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0139 And It Will Be About Why Contractors Need High Tech Construction Accounting Solutions High Technology Construction Accounting Offices Are No Longer A LuxuryThey Are Standard Operating Procedure Just To Keep Up With Your CompetitorsHigh technology office environments are now as important as the Smartphones and tablet were several years ago. If you were a smart, forward thinking contractor you got those long before your competition did and made a lot of money in a short period of time. You need to commit to spending $100,000+ to setup a high technology construction accounting office and staff it with Professional Construction Accounting Staff or outsource it a Contractors Bookkeeping Service before it is too late. Act Now! Don't wait until you are fighting for the crumbs left by successful high-profit contractors who know where The Top 20% of the market is, how to attract them, make obscene profits and retire early. Perhaps you don't want to invest $100,000+ to setup a high tech construction accounting office not more than you want to setup an oil change station at your shop or office since both of them can be outsourced cheaper and faster than you can do-it-yourself. Let alone the aggravation that comes with having a bookkeeper in your house or office and worse yet having your wife do it...now there is a recipe for divorce! Helpful Tips To Setup A Contractors Bookkeeping Service Office Tip #01 - Consistency Is Key To Effective And Efficient Contractor Bookkeeping Setup your Processes and document them in an Operations Manual - Our Strategic Contractors Bookkeeping Service is an assembly line where contractor bookkeeping tasks are divided into groups and assigned by skill level and yours can be too. Make certain everything is reviewed by competent construction accountants who cost us less and we pass the savings on to you! Tip #02 - Understand The Cost Of Having Bookkeepers On Your Payroll A quick rule of thumb is to double whatever you are paying a bookkeeper by the hour and that will come close to the total cost what it will cost your contracting company including their salary, company paid payroll taxes, office supplies and other office overhead. Tip #03 - Find And Hire Some Professional Construction Bookkeepers That:·    Have invested the minimum of 10,000 hours that it takes to master the profession·    Continue practicing, learning and growing their knowledge and skills·    Arrive to work on time and leave on time·    Greet your customers and clients with a smile·    Understands their job description is serve your customers·    Care about you as a person·    Care about your company·    Care about your staff·    Care about your suppliers·    Are cheerful, thinking, responsible adult·    Focus on their job while at work·    Leave home issues at home and work issues at work·    Continually learn new skill sets because they take pride in their work·    Embrace innovation, processes and procedures that allow everyone to succeed·    Produce reliable and good reports·    Take a lunch break away from the office to recharge their minds and bodies·    Take reasonable breaks during the day to clear their mind·    Are team players working to maintain the integrity of your QuickBooks Tip #04 - Here Is What's Required To Find And Keep Professional Bookkeepers·    A living wage with benefits·    Air Conditioning in the summer and heat in the winter·    Company paid training to continually update their skill sets·    Do not expect them to ANSWER THE PHONE·    Good lighting in their office and the building in general·    Kitchenette with free beverages, snacks, frozen foods and a microwave·    Library of online knowledge base available only to qualified Bookkeepers·    Lots of room to spread out paper and assorted files·    Private office with a door so they can work in quiet and think·    24-7 technical English speaking U.S. based phone support·    The latest in computer hardware and software with lots of power·    High-speed scanners to send documents directly to your paperless server·    Two or three large flat screen dual monitors with HDMI or at least DVI inputs with high-resolution·    Understand and implement as much as possible the following:     >Deming’s 14 points     >Covey’s 7 Habits      >Good To Great Any construction business owner who thinks investing in a high-tech construction accounting office or outsourcing your contractors bookkeeping services is not an option may want to consider outsourcing their contractors bookkeeping services to a firm like ours. If neither option appeals to you then perhaps you may want to look around and see how busy you are now and give serious consideration to polishing up your resume and get ready to look for a job with one of your competitors. When economy improves, which it will eventually, you will face a juggernaut of forward thinking construction business owners who are updating their Processes, Policies and Procedures to identify their Prime Customer and developing systems to get the most profitable top 20% of the jobs right now. We know it to be true because we are working with a number of them in all across the USA including Alaska and Hawaii now! The great obstacle to discovering the value of Construction Bookkeeping which generates good reports and being informed in time to seize opportunities and avoid disasters is not ignorance; but the illusion of trying to save money doing it yourself or hiring cheap bookkeepers because good bookkeeping like good construction is not cheap. My purpose is not to offend anyone; however, if I can keep just ONE construction business owner from disaster, bankruptcy, divorce or suicide; and yes some construction company owners have decided to take on a long-term solution to a short-term problem...it is only money. Everyone fails now and then, goodness knows I have. You can always start over, rebuild and go back into business again...a little older and a little wiser and this time you will know to seek wise counsel. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0138 And It Will Be About Seven Unique Shocks Every Contractor Experiences The foundation of this article came in part from an article by Michael E. Porter, Jay W. Lorsch and Nitin Nohria published in the Harvard Business Review. I am a huge fan of Michael E. Porter because of his grasp and understanding of how business works and his ability to convert complex business strategies that anyone can easily understand. During the time when we owned an operated construction contracting companies Michael E. Porter's five forces model opened my eyes and provided a great deal of insight regarding how and why things changed in the construction market. Ten Unique Shocks Every Contractor Experiences Shock #01 - You Can't Run Your Construction Contracting Company Between the demands of customers, clients, bankers, payroll tax returns, sales tax returns (if that applies to you), vendors, suppliers and everybody and everything outside your construction company you do not have the time to run your own construction company. When you first start your contracting company all you needed to worry about was finding that first customer, make a proposal, do the work and get paid. Everything seemed so simple, the sun was shining, and birds were singing, you had work to do and money was coming in, life was good! After a short while you got a few more customers and had less time to get everything done and when those pesky warranty issues or call-backs came from the first few jobs came rolling in that meant doing work for FREE instead of focusing all of your time and energy on new work that was going to pay new money. When You Hired Construction Workers And The Bookkeeper Things Got Real Interesting! You will not be briefed on everything because the first few times your staff tried to tell you something you were already overloaded with information and decisions and the last thing you needed was to hear was the restroom is out of toilet paper! So you growled at them and from that point forward they decided to not tell you anything unless they absolutely had too. Your Project Manager and Bookkeeper know everything that is going on but they will not tell you until just before or just after disaster strikes. That is why it is so vitally important to chose the right Project Manager and Bookkeeper or Contractors Bookkeeping Service for your executive team. Shock #02 - Passing Out Orders Because Think You Are The Boss Is Very Costly O.K. you are the boss, the owner of the construction firm and it is your name on the sign. You can be: #1 - "Super Star With Helpers" and struggle financially and emotionally with your contracting company your entire life. #2 - "Leader With Vision" building a contracting company everyone will want to be a part of and do it like you are going after Moby Dick, in a row boat, with tartar sauce! We have all worked for contractors who are a "Super Star With Helpers". They are the ones who criticize everything and make sure everyone who works for them feels like an idiot. A "Leader With Vision" gets the right people on-board, delegates tasks, offers guidance, support in the form of Scope+Time+Resources and holds people accountable for the outcome. If you are clear on what type of construction work your company does and the clients you want then everybody will pull together in the same direction. Shock #03 - You Will Not Know What Is Going On Unless You Do Some Detective Work No matter what you think as the owner you are viewed by your employees as the "enemy" "management" "greedy business person" and more choice words that I will not mention and therefore to varying degrees they will withhold information from you in an attempt to get even or exert control. The Root Cause is from birth to emancipation every one of us were told "No" by our parents and guardians while we were growing up and as a result we developed a paradigm in varying degrees that if people with authority don't give us everything we want they are mean and therefore the "enemy" and worse. This is as it should be, because it is human nature and you need to understand it. One popular phrase our outsourced contractor bookkeeping services clients like: "We Live In A World Of What Is...Not What Should Be" - Randalism.  Ask open ended, gentle, non-threatening questions of your staff and expect they will be as open and honest as their past psychological conditioning and current Paradigm will allow them. No matter what they say do not condemn them or react badly. Either respond positively or maintain a neutral expression. To do otherwise will kill any chance of them ever sharing anything with you again. Then do whatever you deem appropriate after having taken time to cool off. Next ask your vendors, suppliers, banker, tax preparer and most importantly your Construction Accounting Service what they see and know about your construction company and ask about local, national and international trends that may affect the performance of you company in the coming months. Shock #04 - You Are Always On Stage Giving A Performance And Being Judged #1 - Everything you say and do as well as what you don't say and do is being watched, interpreted, filtered, judged and spread like wildfire. #2 - The way you dress, eat, your wristwatch, smartphone, rings, chains, bracelets, hairstyle and thousands more things about you are constantly being observed and mentally cataloged, observed, interpreted, filtered, judged and spreads like wildfire. #3 - Take a lesson from the great leaders of history who remained calm under fire and never let them see you sweat. #4 - As a contractor you take over where your employees parents left off. - Randalism Shock #05 - Don't Over socialize With Your Employees According to Aesop "Familiarity Breeds Contempt". Your employees look up to you and if they get to know you too well they will begin to see your faults and notice things about you that will diminish your authority in their eyes. Just think about the final scenes in film classic "The Wizard of Oz" when the off camera booming voice says: "PAY NO ATTENTION TO THE MAN BEHIND THE CURTAIN!" Shock #06 - You Are Only Human You need to take care of yourself, get plenty of rest, drink lots of healthy fluids, exercise regularly and don't let anything keep you awake at night. Read good books and get as much "Bread for the Head" as possible. There will be times when you do not feel like going to work, times when you are depressed, grouchy, irritable and much more. During those times take the Nike's advice and "Just Do It". Shock #07 - You Need The Truth About Owning And Operating A Construction Company To get to the truth about your construction company you must go on a journey which is Four Levels Deep and like most successful strategies in life it is simple but not easy. The Four Levels Of Truth In Construction Number One - What contractors want to hear Number Two - What contractors want to believe Number Three - Everything else Number Four - Truth A Story To Illustrate The Four Levels Of Truth In Construction What Contractors Want To Hear - One evening after work, a group of contractors met at the Contractor Business Round Table which is the neighborhood tavern with a round table, pitcher of beer and four contractors. They talked about how tough it is to get profitable jobs no matter what the economy is like. When times are good it is hard to find employees, when times are tough the phone doesn't ring. Everyone agreed there was nothing anyone could do about it. What Contractors Want To Believe - A short while later they talked about making money and agreed that really big contractors make most of the money and little contractors were doomed to struggle. Everything Else - One of the contractors suggested maybe they could ask one of the larger more profitable contractors and find out what they did that made the difference. This of course made the other contractors a bit uncomfortable and then it happened and they all heard and felt the dreaded Snap-Crackle-Pop! The contractor who suggested asking for help experienced a paradigm shift and broke through to the other side. This contractor began leveling up! Suddenly they all remembered what that The Contractors Accountant, Randal DeHart, had said about leveling up. "As you develop your Business Strategy your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different." Truth - Is whatever you believe and you will look for evidence to support your truth. Part of my truth comes from some of the writings of Og Mandino: ------------------------------------------------------------ A Salesman’s Prayer - By Og Mandino Oh creator of all things help me for this day I go into the world naked and alone, and without your hand to guide me I will wander far from the path which leads to success and happiness. I ask not for garments or gold or even opportunities equal to my ability; instead guide me that I may acquire ability equal to my opportunities. You have taught the lion and eagle to hunt and prosper with teeth and claw. Teach me how to hunt with words and prosper with love so that I may be a lion among men and an eagle in the marketplace. Help me to remain humble through obstacles and failures yet hide not from mine eyes the prize that will come with victory. Assign me tasks to which other have failed, yet guide me to pluck the seeds of success from their failures. Confront me with fears that will temper my Spirit yet endow me with courage to laugh at my misgivings. Spare me sufficient days to reach my goals; yet help me to live this day as though it be my last. Guide me in my words that they may bear fruit; yet silence me from gossip that none be maligned. Discipline me in the habit of trying and trying again yet show me the way to make use of the Law of Averages. Favor me with alertness to recognize opportunity, yet endow me with patience which will concentrate my strength. Bathe me in good habits that the bad ones may drown; yet grant me compassion for weakness in others. Suffer me to know that all things shall pass; yet help me to count my blessings of today. Expose me to hate so it not be a stranger; yet fill my cup with love to turn strangers into friends. But all these things be only if thy will; I am a small and lonely grape clutching the vine, yet thou hast made me different from all others. Verily there must be a special place for me. Guide me, help me, show me the way to become all you planned for me when my seed was planted and selected by you to sprout in the vineyard of the world. Help this humble salesman, guide me God. ------------------------------------------------------------ If you suspect that I care deeply about all Contractors and their families you are absolutely right! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0137 And It Will Be About Your Contractor Bookkeeper Retired And QuickBooks Is In Chaos You Arrive At Your Office Or Shop One Morning And Find Yourself Alone...And The Dead Silence Feels Like You Are In The Middle Of A Bad Horror MovieThe lights are off, no coffee brewing, no sounds of paper shuffling or the sound of your contractor bookkeeper typing on their keyboard. You are suddenly aware the office is chilly because nobody has turned on the heat. Then you see a stark white legal sized envelope lying on the bookkeeper's desk with your name hastily scribbled on it. You pick up the envelope and carefully remove the neatly typed letter which says... Dear John The Contractor, I have been offered a better paying position at your competitors construction company XYZ, Incorporated. I cannot begin to express how much I have hated working for you during the past 10 years with computers, printers and monitors that were here before I arrived in this miserable, dark, cramped, smelly office which is colder than the North Pole in the winter and hotter than the Sahara Desert in the summer. XYZ Incorporated, has been courting me relentlessly like I was a movie star with promises of a clean, crisp office, good lighting, beverages, snacks, state of the art computers, printers, monitors, copiers,  scanners and the latest version of QuickBooks desktop version hosted in the cloud and QuickBooks support provided by Construction Accountants who know what the are doing. Signed, Not Your Construction Bookkeeper Anymore You Have Just Discovered What We Mean ByPeople Dependent Vs. Process Dependent Step #1 - When You Started Contracting "Bookkeeping" Meant: Writing Checks. Bouncing Checks. Changing Banks. Using Your Debit And Credit Cards. Getting Cash From The ATM For Snacks And Lunch. Going Online To See Your Bank Balance. Taking A Bag Of receipts To Your Tax preparer At Year End. And Ignore Everything Your Tax Preparer Said. Step #2 - You Got Busy "Bookkeeping" Meant: Hiring a cheap bookkeeper out of Craigs List or someplace similar. Setting up a work space as cheap a possible because bookkeeping is overhead. Getting frustrated because every time you asked your bookkeeper anything the answer was "I don't know!" Step #3 - Now That Your Bookkeeper Is Gone You Can: Hire another cheap bookkeeper or if you are unlucky get a Bad Bookkeeper. You can hire a freelance Jack-Of-All-industry-Bookkeeping-Services and Master-Of-No-Industry-Bookkeeping-Services. Save time and money by outsourcing your contractors bookkeeping services to people who know and love construction  bookkeeping. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0136 And It Will Be About How We Fix QuickBooks Job Costing Reports Problems If you are a contractor you know how to get the work done. At the end of your day when your body is tired, your muscles are aching and you are too tired to move is when you ask yourself three simple questions: 1.    Am I making money or losing money?2.    Which jobs and customers are making me money?3.    Which jobs and customers are costing me money? Every Complex Question Has Two Answers #1 Is Simple And Wrong #2 Is Hard And Right The Simple Answer Is to keep doing what you have always done and continue getting what you have always got. Don't pay any attention to your financial and job costing reports until it is time to file your annual taxes and gasp in dismay and horror while asking what happened? It is like the two guys living in a farming community that started a business buying and selling bales of hay. They had a large truck which they used to buy the hay, load it and make deliveries to their customers. They bought and sold 500 bales of hay every day. After a month one partner said to the other "If we buy a bale of hay for $10.00 and sell it for $10.00 we need a bigger truck if we are going to make any money!" We see a lot of contractors, men and women with good hearts; good intentions and very intelligent doing something similar day-in-and-day-out and it cause us a lot of pain because we know there is a better way. The Hard Answer Is early to bed, early to rise know your numbers and advertise. Knowing your numbers is painful! It hurts your brain for a short while because you are using a part of your brain that may have been sitting idle for a long while. Unless you are a recent university graduate and you studied hard and applied yourself. The following is a simple Step-By-Step Process to get you started: Step #1 - Ask your bookkeeper or accountant or better yet your construction accountant for three reports  > Profit & Loss Enhanced > Balance Sheet Enhanced > Profit & Loss By Job. You can see samples of them at http://www.fasteasyaccounting.com/blog/we-fix-quickbooks-job-costing-reports-problems There is a lot of information contained in each of these reports and like anything new if it is the first time you have seen them there will be a considerable amount to digest and understand.We find that even contractors with highly skilled financial backgrounds have a bit of trouble understanding these reports because of the vast differences between Construction Accounting and Regular Accounting. The good news is any contractor who invests a small amount of time and money will be amazed at how much wealth can be gained from it.My advice is spend a few minutes and look at them casually and then wait an hour or more and look at them again. Repeat the process by reviewing them every day for 10-15 minutes and make notes about anything that looks interesting.Then set an appointment with your accountant and spend some time discussing them and asking questions.Just be aware most accountants and especially qualified construction accountants will charge a fee above and beyond what you are paying to have them take care of your Contractor Bookkeeping Services. For our clients Sharie can answer a few simple questions at no extra charge 206-361-3950. More in-depth analysis, business coaching and help with understanding financial and job costing reports will require one of our construction accountants and there is a fee for that. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0135 And It Will Be About About Contractors Who Hate Bookkeeping Would You Rather Walk Barefoot Across Hot Coals Than Do Paperwork? If this describes you just know you are not alone. Most contractors would rather do anything including work in the rain, sleet, hail or windstorm than do the bookkeeping. You started your construction or contracting company, house building firm, handyman business or your specialty contracting company to build, remodel, repair homes, commercial spaces and other structures not be a desk jockey! Did someone say you need to do all the bookkeeping in order to be a successful contractor? If so ask yourself are they a successful contractor? Chances are they're not! Successful contractors outsource their bookkeeping to a construction accounting service and spend their valuable time reading and understanding what the Financial and Job Costing Reports are telling them so they can make informed decisions. Bohunk Bob (Not His Real Name) Is A Typical Contractor Who Is Sick And Tired Of: Working long hours in all kinds of weather in wet clothes, using broken tools and worn out equipment. Dealing with hard-nosed, cheap, ungrateful customers who want more, pay less and pay late, if at all. Putting up with whining, sniveling, lazy employees who arrive late and leave early to make up for it. Suppliers and vendors who move slower than molasses in the dead of winter, at night, on a frozen lake in a blizzard. Feeling like he is running on an endless treadmill and getting nowhere fast. In trouble with the Internal Revenue Service, Employment Security or Sales Tax agency. Trying to convince the bank to loan him money to take some of the financial pressure off or expand his business. And a thousand and one other problems and pressures that are driving him crazy. The Common Thread Weaved Into The Fabric Of His Nightmare Is Paperwork And Bookkeeping. Some of the best contractors, home builders, residential remodelors, specialty contractors and handymen are the worst at taming paperwork. They may as well be herding balloons on a windy day! The answer is simple: Working long hours is a sign your doing everything yourself instead of doing what you do best and outsource the rest. Dealing with rotten customers means not understanding the difference between Customers And Clients. Whining, sniveling, lazy employees means not understanding the answers found in construction psychology. Suppliers and vendors who move slow means not understanding the value of using single source suppliers. Feeling like he is running on an endless treadmill and getting nowhere fast means not understanding leveling works. In trouble taxes is more often than not you don't have an advocate to help navigate the payroll and sales tax returns. Trying to convince the bank to loan him money means not having a Board of Advisers. And a thousand and one other problems and pressures that are driving him crazy. IF YOU KNOW THE ANSWERS THE QUESTIONS WILL NOT BOTHER YOU - Randalism When you're driving you don't need to know how the truck was put together; you just need Five Key Performance Indicators: 1.    Speedometer2.    Tachometer3.    Fuel Supply4.    Oil Pressure5.    Water Temperature For your contracting company you don't need to know construction accounting you need Five Key Performance Indicators:1.    Cash On Hand2.    Cash To Come In3.    Cash To Go Out4.    Profit & Loss5.    Balance Sheet You are all about getting things done, not running on an endless treadmill of mundane; mind numbing, paper heading and pencil pushing geek work. If someone told you that in order to own and operate a successful construction and contracting company you had do all of the paper work they were wrong. Your Contractors Bookkeeping Has To Get Done But You Don't Have To Do It! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0134 And It Will Be About Contractors With Bookkeepers Paying Bills Are Begging To Be Embezzled It Makes Perfect Sense For You To Delegate All The Mind NumbingContractor Bookkeeping Service Tasks As You Can! All Contractors will experience embezzlement at some point in their business life if they stay in it long enough. How much money will be lost is easy to predict. Group #01 - Contractors Who Have Experienced Embezzlement > Immediately outsource the bookkeeping chores to a reliable trustworthy Contractors Bookkeeping Service> The owner pays the bills every Friday and we can help by:> Getting all the bills, invoices, bank statement, payroll checks, etc. into QuickBooks so you know what to pay> Reconcile all of the bank and credit card statements> Process payroll and you review payroll and authorize payment> Process monthly and quarterly tax returns which you review and authorize payment> Enter and reconcile the vendor charges and statements which you review and authorize payment> Common vendor statement errors we catch:> Mistakes at order desk> Missed invoices and credit slips> Bills sent to wrong contractor Group #02 - Contractors Who Have Not Experienced Embezzlement Contractors who want someone to provide Contractor Bookkeeping Services and pay the bills are practically waving a Red Flag and holding a sign that says "I’m stupid pay my bills and embezzle as much of my money as you want!!Well meaning, yet somewhat lazy Contractors ask if paying their bills is part of our Outsourced Contractor Bookkeeping Services and the answer is NO! We never, ever like to say NO unless it is absolutely necessary.Small construction companies with annual sales volume under $5,000,000 can not afford to put in place the proper checks and balances or hire the services of an in-house Chief Financial Officer (C.F.O.). Even when it is time to hire someone to "Pay The Bills".Just expect sooner or later embezzlement will occur because you will try to get by without putting the best practices of money management in place until after you loose a small fortune. When Do Most People Buy A Burgler Alarm? After Being Robbed, Not Before! Whenever you think it is a good idea to give your in-house bookkeeper or any Outsourced Contractor Bookkeeping Service full unrestricted access your online bank account, savings account, payroll account or credit card so they can save you time by paying your bills take two aspirin and lay down for a nap. When you wake up if you still feel it is a good idea, think again and review the list of the twenty one signs of bookkeeper embezzlementA Google Search - Of Construction Bookkeeper Embezzlement will generate thousands of hits and most of it could have been avoided if the construction owner had known about and followed a few simple guidelines.#01 - Don't Hire A Bad Bookkeeper Click Here For More...#02 - Understand The Employee Theft 10-10-80 Rule - Discovered over many years of experience and first hand observation by auditors, accountants, fraud examiners, anyone involved in detecting employee theft.Ten Percent - Of all employees including bookkeepers will steal in a variety of ways from office supplies, petty cash, graft, kickbacks and payoffs from your suppliers, vendors and sub-contractors and even hundreds of thousands or even millions of dollars. They will do it regardless of how many security systems are in place because they lack integrity and have an "taker's" entitlement paradigm that states: "It Is Better To Take Than To Make". They cannot be stopped, only caught! And only then if you have systems in place and if you can convince the criminal justice system to take action, good luck with that!Ten Percent - Of all employees including bookkeepers will never steal because they have integrity and a "Producer's" paradigm that states: "It Is Better To Make Than To Take". In the end these are the people who will add so much value to your company you cannot help but reward them with more money, benefits and recognition. Because if you do not they will be recruited by your competitors. This is another example of Leveling, click here to learn more. Eighty Percent - Of all employees including bookkeepers will steal if they feel certain they can get away with it and if circumstances allow for it due to weak integrity and a sense of "Redistributing The Wealth, But Not The Work Or The Responsibility"#03 - Your Bookkeeper - Asks for signature authority on your checking / savings / payroll accounts#04 - Your Bookkeeper - Has a lifestyle that seems above what they are earning#05 - Your Bookkeeper - Takes Records Home to work on or they want to work in the office when no one is around (Fraudulent activities are easier when nobody is around).#06 - Your Bookkeeper - Refuses to take a vacation.#07 - Your Bookkeeper - Gets defensive when you or your CPA asks questions.#08 - Your Bookkeeper - Has access to your credit/debit cards.#09 - Your Bookkeeper - Receives mail-order packages at work.#10 - Your Bookkeeper - Has QuickBooks in a complete mess and you cannot understand any of it.#11 - You Bookkeeper - Tries to explain away delinquency tax notices.#12 - Your Bookkeeper - Insists on picking up the daily mail.#13 - Your Bookkeeper - Is the primary contact for your company's banks, auditors, creditors, etc.#14 - Your Bookkeeper - Misplaces payroll receipts, deposit records, supplier letters and estimates.#15 - Your Bookkeeper - Makes the bank deposits and they seem to be too small.#16 - Your Bookkeeper - Show signs of a drinking, drug, or gambling problem or family financial problems.#17 - Your Bookkeeper - Suggested they could save money by getting rid of the outside accounting firm.#18 - Your Bookkeeper - Gets angry when you ask for a QuickBooks report#19 - Your Bookkeeper - Tries to blame the previous Bookkeeper or outside accounting firm for messy QuickBooks#20 - Your Bookkeeper - Does not get along well with other employees and staff members.#21 - Paying bills with Cashiers Checks - When you look it up on the internet it will only show as a withdrawalThere Are More Warning Signs - To be aware of and action steps you can take.Outsource To A Professional Contractors Bookkeeping Service - That has a Contractors Bookkeeping Services System in place: > They Do Not Collect your money, make bank deposits or pay any bills or taxes.> They Do The Bookkeeping including Payroll Processing, Quarterly Tax Reports, Invoicing, Pay Applications, and bank reconciliations and provide you with online access to your QuickBooks For Contractors and a separate 24/7 web based financial reporting tool so you can generate Job Costing and Financial reports anytime you want too. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0133 And It Will Be About Unique Successful Contractors Operate In Reverse To Poor Contractors Successful Contractors Do The Exact Opposite Of Poor Contractors The First Place to start is to understand how The 80/20 Rule applies to your construction company. It simply states that the top 20% of your clients generate 80% of your profit and the bottom 80% of your customers generate only 20% of your construction company profits.It Stands To Reason if you want to more cash flow and profits and more freedom in your life you would copy the operations of highly successful and very profitable contractors. They outsource as much as possible especially their Contractor Bookkeeping Services Needs so they can focus on finding and satisfying the needs of high-value, high-profit clients and leave the price shoppers, tire kickers, carpet pilots and web-surfers to the poor dumb contractors who prefer to work hard rather than smart, do everything themselves and end up wasting their lives in pain and misery.Successful Contractors - Have a comprehensive demographic and psychographic profile of their high profit prime client. They focus on acquiring more high profit prime clients and finding new and better ways to satisfy their high profit prime clients wants wishes, desires and needs. Poor Contractors - Take whatever comes their way because they don't have a profile of their clients let alone a marketing budget so they get trapped with the leftovers and price shopper customers. Successful Contractors - Focus 80% of their time and effort on increasing revenue and 20% on cutting costs. They outsource whatever is not in their core competencies or those things only they can do that provided value to their clients and generates more cash flow and profits. They hire $25 an hour people to do $25 an hour work in their construction company and focus their time and efforts by earning $250 an hour working on their construction company developing strategy and marketing to find more high-profit clients.Successful Contractors Outsource:> Oil change services on their vehicles> Changing tires, batteries and other vehicle repairs and maintenance> Office machines repairs and maintenance> Bottled water deliveries rather than sending someone to the store> Cell phone service rather than relying on public pay phones> Contractor Bookkeeping Services rather than rely on in-house bookkeepers or worse yet their spousePoor Contractors - Focus 80% of their time and effort on cutting costs and getting "deals" and 20% on growing revenues and doing as much as possible themselves. They try to save money by doing $10 an hour work in their construction company rather than earning $250 an hour working on their construction company. Poor Contractors Do Not Outsource:> Oil change services on their vehicles> Changing tires, batteries and other vehicle repairs and maintenance> Office machines repairs and maintenance> Bottled water deliveries because they would rather go to the store> Contractor Bookkeeping Services rather they rely on cheap bookkeepers or worse yet their spouseSuccessful Contractors - Know from reviewing their performance reports and consulting with their Construction Accountant exactly their staff members from the laborers to the Project Managers add more value than they cost. They know what Ten Minutes Waste Cost Their Contracting Company which is why they provide the right tools, equipment, processes and procedures to get every project done in the most efficient, effective way, at the least cost while maintaining high standards to avoid costly re-work and warranty work And they always get paid for all change orders!Poor Contractors - Feel that all staff members from the laborers to the Project Managers need to hustle and run everywhere and if they are giving less than 110% to the job they are not doing enough are costing more than they are worth. The root cause is their staff does not have the right tools, equipment, processes and procedures and in fact are always operating in a chaotic, neurotic work environment where the commonly heard phrase is "WE NEED TO GET ORGANIZED!" And they get paid for all change orders!Successful Contractors - Make sure everybody knows they are appreciated and each individual is an important, integral part of a team. They are recognized as people with special skills and talents which makes everyone comfortable and less likely to search for another job elsewhere. They always make it clear that "Kindness is not Weakness"Poor Contractors - Like to make sure everybody knows they can be replaced at any time day or night which makes people uncomfortable and likely to search for another job elsewhere. If someone wastes ten minutes a day on your payroll click here to see what it could be costing you!Successful Contractors - Treat their tax preparer, banker, construction accountant, suppliers, construction attorney, financial planner, Board of Advisors, vendors, bookkeeper and everyone they come in contact with respect and kindness which causes them to get good service, special breaks and favors which results in more cash flow and profit.Poor Contractors - Treat their tax preparer, banker, construction accountant, suppliers, construction attorney, financial planner (what should have been his Board of Advisors) vendors, bookkeeper and everyone they come in contact with like an enemy they are likely to lose money due to bookkeeping errors, slow service and general lost time.If Your Construction Company Profits - Averaged less than 10% each year over the past five years you may want to call Sharie 206-361-3950 for a no-charge consultation. In addition you may want to look at the Business Strategy Program.We Have Hundreds - Of fast, easy and safe ways that can increase your company profits and put more money in the bank to operate and grow your business. It is all about having a Strategy That Works! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0132 And It Will Be About Maximizing Vs. Optimizing Your Construction Company The First Place - To start is to understand how the 80/20 Rule applies to your construction company. Some Construction Company - Owners feel that all staff members from the laborers to the Project Managers need to hustle and run everywhere and if they are giving less than 110% to the job they are not doing enough. Some Contractors - Like to make sure everybody knows they can be replaced at any time day or night which makes people uncomfortable and likely to search for another job elsewhere. If someone wastes ten minutes a day on your payroll click here to see what it could be costing you! When Contractors - Treat their tax preparer, banker, construction accountant, suppliers, construction attorney, financial planner (what should have been his Board of Advisors) vendors, bookkeeper and everyone they come in contact with like an enemy they are likely to lose money due to bookkeeping errors, slow service and general lost time. If Your Construction Company Profits - Averaged over the past five years are less than 10% you may want to fill out the form and meet with us for a no-charge consultation. In addition you may want to look at the Business Strategy Program. We Have Hundreds - Of fast, easy and safe ways that can increase your company profits and put more money in the bank to operate and grow your business. It is all about having a Strategy That Works! Maximize If You Stock Your Truck - With every tool you think you may need and loading it to the sky with all the parts and inventory you think you may need and drive hard and fast you are maximizing that resource and that is not a good thing.Benefit - Hopefully fewer trips to the supply house, Lowes, Home depot or other places which will save you a little bit of time and money. Costs - You will end up spending more money for each mile you drive because you use more fuel, your brakes will wear out faster from having to stop with more weight. Your tires will wear down quicker and your vehicle suspension parts will need to be replaced sooner rather than later. You will have money that is tied up in tools, equipment and inventory that could be invested elsewhere and make more money for you. Even worse, if you have any credit card debt or loans that money could be used to pay them down and reduce your interest expense. Risks - If you involved in a traffic collision and the investigation reveals that you have exceeded the Gross Vehicle Weight Rating (GVWR) of your truck or van then it is likely your insurance may not cover the damages. In addition you may be liable for negligence charges. We recommend you contact your insurance agent and your attorney for their advice. Optimize Stock Your Truck - Wisely by having a strategy that serves a niche market and uses the 80/20 Rule and you will not need so many tools, parts and equipment. Another money saving tip is to only keep the items on board that are used every week to reduce your GVWR and save money on every mile you drive. Benefit - There is no money in chaos. By keeping your organized and serving a niche market means fewer visits to your supplier which will save you even more time and money. Saving time and money by not having to hunt for something in your truck will add even more profits to your bottom line. When you understand What Ten Minutes Cost Your Company and develop your Business Strategy your profits will grow and be flying high like an eagle!I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0131 And It Will Be About How High Profit Jobs Send Contractors Into Bankruptcy You have what appears to be a high profit job and now you are thinking you have it made and I hope you are right! The problem is high profit jobs have a way of turning into low or no profit jobs and in some cases they can bankrupt your construction company because you bid the project using whatever model you are accustomed to using and in the end you wind up with cash flow problems. Construction company owners who understand Construction Psychology and the need for Business Process Management (BPM) System also know the importance of being process dependent, not people dependent. One will bankrupt you and the other will make you wealthy.A lot of problems can be traced back to the "Halo Effect" which happens when a contractor thinks "We are so good at (fill in the blank) we should expand into (fill in the blank). They have the attitude "I am going after Moby Dick in a row boat with tartar sauce!"The most common situation is when a residential remodel contractor who has built a reputation and a substantial company generating profits of 15% or more decides to start building custom homes. Or the opposite a home builder who decides to branch out into residential remodeling. Home Builder Doing A Residential Remodel The processes, tools, equipment, materials, skills and invoicing procedures required to modify a home with people living in it are completely different from building a house from the ground up. New construction workers are more like cave men with a brute force mentality. Every problem has one answer "Brute Force". If something doesn't fit or will not work the way they want it to they use more brute force until it does. The same goes with managing sub-contractors and suppliers. I know because I spent a few years being one of them and in my 20's it was great fun! The home builder bids a residential remodel project using the same square foot costs they have always used in building houses and discovers quickly the true meaning of "Hidden Costs". These costs arrive in the form of dry rot, cracked foundations, broken plumbing, bad wiring, worn out HVAC and other unpleasant surprises. Homeowners living in the house while the remodel is happening and do not ever want to be without water, lights, heat and privacy and they don't have a clue how much debris, dust and noise is involved in a remodel. When it comes to change orders that is something most home builders do not understand. They don't have a process for tracking them let alone pricing and getting paid for doing them. Homeowners want to believe everything is included in the original contract price including the little extras they think of along the way. Most trade contractors and subcontractors who work on residential remodel projects do understand change orders and they know how to apply pressure to the builder to get paid. Too often this is the main reason home builders go bankrupt is cash flow issues. Residential Remodel Contractor Building A Home The processes, tools, equipment, materials, skills and invoicing procedures required to build a house from the ground up are completely different from modify a home with people living in it. Residential remodel construction workers are more like cowboys herding cats. They understand brute force will not work but patience, planning and being respectful does. I spent a few years in residential remodeling and it did not take long to learn that new construction behavior does not work in residential remodeling. The remodel contractor uses a form of "Cost Plus" or "Not To Exceed" to provide the homeowner with scope of work and a contract price the bank needs in order to finance the construction. That process can work for a residential remodel because the house is already in place which helps define the size and scope of the project. The size and scope of the homeowner's dream house is limited only by what the building codes will allow. When the labor, material, other costs and subcontractor bills start piling up the remodel contractor asks for a construction draw and is told the bank needs a Pay Application filled out and submitted. Then it will take a while for the bank inspector to review the project and approve the draw.This is when the remodel contractor figures out they are providing all the labor, material, other costs and subcontractor expense up front and getting paid only when and if the building inspectors, architect, bank and the client agree to the draw request.The SolutionIn order for your construction company to survive and thrive in any economy you must pick a niche market and develop your Strategic Business Process Management System (BPM) with definite written goals of what you want to accomplish and how much money you want to earn from it.Once you have picked your construction specialty stick with it no matter what and in the end you will have the best chance of making a lot of money and retiring wealthy. All contractors who try to do the right thing deserve to be wealthy because they bring value to other people's lives.If you need a construction accounting services who understands you and your industry we would like the opportunity to chat with you. We can be reached at 206-361-3950 or by email [email protected] I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0130 And It Will Be About Tips For New Contractor Startups  So You Are Starting A Construction Company. Perhaps yours will be building houses, a handyman business or a specialty contracting company like a plumber, electrician, HVAC, concrete or Landscape Company. Whatever it is congratulations you have or will be taking a big step toward being the Master of Your Own Destiny! Two Paths Are Open In Front Of You One Leads To Pain And Misery (P.A.M.) The Other One Leads To Success And Happiness (M.A.P.)   P.A.M. = Production Accounting Marketing = Pain And Misery “Failure In Construction Is A Few Simple Errors Repeated Everyday” - Randalism This Is The Most Popular - and yet the hardest and least profitable way to operate a construction company. Contractors thinking and doing what they did while working for somebody else instead of thinking and doing what a business person does. Production First This Is The Most Popular - and yet the hardest and least profitable way to operate a construction company. Contractors thinking and doing what they did while working for somebody else instead of thinking and doing what a business person does. Production is the first thing they think about and do and it happens when a contractor has one or two jobs from friends and relatives. They do what they have always done....they put their tool bags on and go to work! There is a perception - They have very little or no overhead and since they want to make a name for themselves they work real cheap. Some contractors - Refuse to markup materials or sub-contractor invoices because they want to save their customers money. Everybody needs to benefit from all transactions to keep things fair. If the contractor spends time, effort and expertise they deserve to be paid. Some Big Hearted - Good Natured Contractors labor under the illusion that if they work real hard and keep their prices low their business will magically prosper. The reality is they own a JOB, with little or no health insurance, no retirement fund and no benefits! Accounting SecondWhen Tax Forms - Nasty letters, assorted mail and phone calls from the State Department of Revenue, Workers Compensation, Employment Security Department and the IRS 940 and 941 notices pile up you will start thinking about your bookkeeping problem.Bounce Some Checks - Pay bank fees and pay returned check fees to the stores. Go to another bank and repeat the process twice more. The Bookkeeping Path - Do-It-Yourself / Get Stuck / Take QuickBooks Class / Still Stuck / Hire Cheap Bookkeeper / Lose Sleep / Get Aggravated / Fix The Aggravation and put a Bookkeeping system in place and start making money! Marketing LastWhen The Low Hanging Fruit - Friends and relatives with "honey-Do-Projects" are done they wait for referrals to come rolling in and yet for some unknown reason the phone hardly ever rings. When The Phone Rings - It is a "Customer" Not a "Client". There is a HUGE difference between them. A "Customer" is looking for an "honest contractor" also known as someone who works for less than dirt wages and will throw in lots of extras at NO CHARGE! Business Cards - Are printed and words like "Quality" "Best" "Low Prices" which means nothing because Quality and speed are the standard operating procedure now.  The question is what makes this company different from all the other contractors?  What is their USP (Unique Selling Proposition)? M.A.P. = Marketing Accounting Production = Success And Happiness “Success In Construction Is A Simple Disciplines Practiced Everyday” - Randalism This Is The Least Popular - and yet the most profitable way to operate a construction company. Contractors thinking and acting like a business person.Marketing First Stop, Look, Listen And Think - Understand the impact of the 80-20 Rule for contractors: > 20% of your customers normally generate 80% of your net profit. > 20% of the goods or services you sell contribute 80% of your revenue> 20% or 2 out of 10 of your staff create 80% of the value for your customers. The frightening consequence of the 80/20 rule is that 8 out of 10 hours we spend at work drive almost no value to the bottom line and the biggest drain is trying to save money doing our own contractor bookkeeping services instead of reviewing the Key Performance Indicator (KPI) Reports. Especially now when they can be accessed 24/7 without opening QuickBooks for Contractors.The most important value good contractor bookkeeping services can bring your construction company is an understanding of where your 20% most profitable clients are and they are rarely who you think they are. They are found inside the Job Costing Reports including the Job Profitability Reports.  By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work.This is the great contribution a company receives from good QuickBooks® data and from using QuickBooks® the ‘right-way’.What are you good at and what do they love to pay you money to do for them? What jobs have you done that made a positive difference in people lives? What projects did you have so much fun doing that time seemed to fly by?Take the information - Outlined above and write a story to describe the people you enjoy working for because they are your "Prime Customers" and they are your target market.Document - The demographic and psychographic profiles of the people you enjoy working for and why.Develop Your Business Plan - Using the Eleven Steps Program and pay close attention to the marketing section because that is where you will decide what niche of the construction market you will dominate. Know that in time your company will become legendary to such a degree you clients will be raving fans and referrals will be part of your marketing strategy. Nordstrom has been very successful at this and it would be wise to learn from the leaders. Accounting NextOutsource Your Contractors Accounting Services - To a firm that specializes in Construction Bookkeeping and Accounting because it is a chore for you and in most cases we can do the job for much less than an in-house bookkeeper because we have a Contractors Bookkeeping Services System. But Wait There's More- We have remote servers which means you can have 24/7 access to your QuickBooks desktop versionLearn To Read Your Financial Reports - We can guide you on which reports to pay attention too and why certain reports can make you more money than other ones. Learn More about the KPI Reports HereProduction LastThe Final Stage - To launching your successful construction firm. This is where all your hard work pays off. At this point you have some basic operation manuals in place for your field and office employees. It is the document that answers the same questions you will be asked 100's of times. It is the Wikipedia of your company. "This is Who We Are And This Is How Things Are Done Here". Now You Have - A road map to success and all you have left is to assemble the tools, equipment, employees and setup your trucks and/or vans and go to work! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0129 And It Will Be About Five Unique Bookkeeping Tips For New Contractor Startups So You Are Starting A Construction Company. Perhaps yours will be House Builder, Handyman Company, Specialty Contractor like a Plumber, Electrician, HVAC, Concrete Contractor or Landscape Company. Whatever it is congratulations you have or will be taking a big step toward being the Master of Your Own Destiny! I Trust This List of Five Accounting Tips For Contractor Startups Will Help You Many surveys and reports show nearly half of all new construction companies close their doors within the first five years of opening them. When we speak with contractors who failed most of them say it was due to lack of cash flow. Pretty obvious and yet when questioned all of them said they were "Blind-Sided" and were not aware they were running out of cash until it was too late. There is a point when a contracting company starts to fail and nothing short of a massive cash infusion can stop it and a domino effect begins which is when a series of similar or related events occurring as a direct and inevitable result of one initial event. Lack of cash holds up material deliveries, which causes labor to be idle and continue costing money and then payroll checks bounce and your construction workers take your tools and equipment to the pawn shop to get paid that way and the contracting company spirals down to its final end. Construction Accounting Tip #01 - Open Three Business Checking AccountsIf you were to ask a lot of contractors about the big mistakes that they made when they first started out one of them are they wished that they had kept their business and personal expenses completely separate. Not only does it make the day-to-day contractor bookkeeping easier but it also makes monthly, quarterly and annual tax preparation smoother. Checking Account 01 - Your primary checking account should not have any credit or debit cards attached to it. All money is deposited into this account and you make transfers into the other two accounts as needed. Order a small supply of three part voucher checks. It is a fast easy way to keep track of who was paid and have a reference of their Invoice number, dates and amounts. Checking Account 02 - Payroll checking account should have just enough money in it to cover payroll with perhaps a small cushion of $100. This limits exposure to payroll fraud and this account should not have any credit or debit cards attached to it. You can transfer funds into this account to as needed from your primary account. No need for paper checks. Checking Account 03 - Petty Cash checking account with $500 +/- this account should have debit cards that work like credit cards attached to it for making small purchases in the field. If you want to provide your foreman and forewomen with a debit card to be used as a credit card you can. NEVER give out the PIN number. You can transfer funds into this account to as needed from your primary account. No need for paper checks. Construction Accounting Tip #02 - QuickBooks Desktop Version In The CloudThere are thousands of accounting programs on the market and we have tried dozens of them including free ones like Wave and GnuCash, one of the more popular ones for contractors, is QuickBooks. If you are a contractor I strongly suggest QuickBooks desktop version in the cloud because it gives you all the flexibility to access QuickBooks remotely from a tablet, laptop, notebook, desktop and some phones. It is the Windows version of QuickBooks; however, it can be accessed from most Apple devices. Construction Accounting Tip #03 - Backup Your Paper Records In The CloudThis includes keeping the invoices that you send and receive, your paper and electronic receipts, keeping your employees’ records up to date and having proof of all of your expenses from equipment that you purchase, traveling you do and the office supplies that you’ve bought. There are several cloud based services to choose from. We use a paperless server version which allows us to scan a paper document and attach it to the individual transaction in QuickBooks for easy retrieval. You Can Drag And Drop Documents From Your Desktop, Laptop Or Tablet Into Our Paperless Server In addition to all the ways listed in How To Get Paperwork To Us we have recently added Drag and Drop which if it only saves you ten minutes a day on your contractor bookkeeping could be worth hundreds or thousands of dollars annually to your bottom line! For more on how Ten Minutes A Day can make or break your construction company Click Here Construction Accounting Tip #04 - Focus On Profitable Customers And ClientsThe 80/20 rule says that most contractors spend 8 out of 10 hours doing things that drive almost no value to the bottom line. The biggest drain is trying to save money doing your contractor bookkeeping instead of spending five minutes a day reviewing the Key Performance Indicator (KPI) Reports. Especially now when they can be accessed 24/7 without opening QuickBooks for Contractors. By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work. This is the great contribution a company receives from good QuickBooks® data and from using QuickBooks® the ‘right-way’. What are you good at and what do they love to pay you money to do for them? What jobs have you done that made a positive difference in people lives? What projects did you have so much fun doing that time seemed to fly by? Construction Accounting Tip #05 - Develop A Business PlanDevelop Your Business Plan - Using the Eleven Steps Program and pay close attention to the marketing section because that is where you will decide what niche of the construction market you will dominate. Know that in time your company will become legendary to such a degree you clients will be raving fans and referrals will be part of your marketing strategy. Nordstrom has been very successful at this and it would be wise to learn from the leaders. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0128 And It Will Be About Why Downloading From The Bank Destroys Job Costing And Profitability Downloading from the bank is easy and saves time; however, it does not allocate the transactions for accurate Job Costing Reports. The two main reasons highly profitable construction contractors use Job Costing Reports: #1 It is the foundation of your construction company unique "Job Costing Library".  This helps you estimate new projects using historical data. #2 It is part of your Business Process Management Process that can help you understand when, where, how, why and who you make and lose money. Every Transaction In Your Construction Company QuickBooks File Needs To Be Filtered Some transactions will need to be split into parts for example a loan payment may have part of the money assigned to Principle and the rest to Interest. Bank feeds and downloading from the bank works great for roughly 80% of the businesses and the other 20% like construction it causes major disasters which will go unnoticed until the contractor wakes up in a panic and asks the all important question every contractor asks when they realize they are in deep financial trouble: "I need to know where I am making and losing money And I need to know RIGHT NOW!" Bank feeds and bank downloads are something the banks hate because of all the technical support and angry customers they have to deal with after the disaster hits. They offer it anyway to satisfy their customers and just hope the fallout is not too terrible. Most of the time every transaction is dumped into a random account in the Chart of Accounts. The first time you downloaded a purchase from Home Depot it went into material the next time it was a tool and that went into material the next time it was office supplies and went into materials the next time...who knows where the wild goose goes? Tax preparation folks love bank downloads and bank feeds because it makes their job easy and if you get audited or pay more income tax than you should, oh well. Sign In Motorcycle Shop... "If You Have A $10.00 Head Buy A $10.00 Helmet" In the mid 1960's something profound occurred in a bike shop near Greenlake in Seattle, Washington while I was shopping for a bike helmet. I browsed the selection of helmets and asked the clerk for a "cheap helmet" because in my mind all bike helmet were the same and I was not about to be ripped off. He had a profoundly simple answer: "If You Have A $10 Head Buy A $10 Helmet" He said it with a deadpan face, no expression and he acted as if he could not care less about what helmet I purchased.I remembered something my Step-Father used to say "Buy the best you can afford and cry once, rather than buying the cheapest and crying about it not doing what it was intend to do forever." He was a simple man without a lot of formal education and yet one of the wisest men I have ever known.I purchased the most expensive helmet I could afford and it saved me from experiencing several injuries over the next few years.Recently a roofing contractor contacted and said his tax accountant charges $200 a month to download from the bank into some kind of program, could be excel, quicken, QB who knows what; but the financial and job costing reports don't make any sense. He wanted someone to take over the contractor bookkeeping services and do it right for less than $200 a month. We said yes we can do it right, but not for $200 a month. In the long run and we might be able to reduce the amount he pays in taxes and increase his roofing company's cash flow and profits which could mean that our services could pay for themselves put more money in his bank to operate and grow his roofing company. As we understand it that particular contractor is now bankrupt. I suspect it was partly due to bad bookkeeping practices and part due to the economy. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0127 And It Will Be About Unique Strategies For Contractors Preparing To Meet Increasing Demand Having Lived Through Several, Recessions Beginning In The Mid 1960's I Sincerely Understand And Empathize With The Challenges That All Construction Owners, Workers And Support Staff Have Faced For The Past Several Years The Good News Is Everything Is About To Change For The Better! There is natural ebb and flow in the business cycle, which in normal times operates, somewhat predictable. In normal times, contractors who pay close attention to their Five Key Performance Indicators financial reports and stay aware of the macro global economy and the micro local economy can plan ahead and earn a normal profit after paying the owners a reasonable salary. The past several years starting in late 2008 have been anything but normal and frankly, we are having a tough time with the economic forecasts models we follow including our own internal ones. Something similar occurred during the period of 1976 to 1980 and suddenly in early 1981 the national and global economy began to turn around and there was a severe shortage of contractors and qualified construction workers. During the remainder of that, expansion and boom cycle many construction company owners made substantially high profits and the wise ones who thought ahead invested their windfall profits in real estate, stocks and other investment vehicles. The good news is the Universe is always in balance and we could be nearing the beginning of a period of massive expansion the likes of which we have not witnessed since the end of World War II when the housing boom was explosive for the next 20 years. Pent Up Demand For Construction Projects Pent Up Demand #01 - Deferred maintenance. Many commercial property owners have been putting off sealing parking lots, painting, renovating and other general maintenance projects due to the lack of cash flow. Pent Up Demand #02 - Drive the neighborhoods in your cities and towns all across the USA, Alaska and Hawaii and see for yourself how many houses have weathered "Blue Tarps" covering portions of the roofs which are leaking and need repair. If the homeowner is having trouble putting food on the table then a new roof is not a high priority, yet. Pent Up Demand #03 - In the evening hours drive the residential neighborhoods in your target market and notice how many cars are parked in the driveways and surrounding areas. This indicates a lot of people are renting out rooms to help make their mortgage payments. Pent Up Demand #04 - Visit the home improvement stores and observe the shift from six months ago when there were lots of lost and frustrated homeowners roaming the aisles searching for materials and tools for do-it-yourself projects and now there is an increasing number of contractors and handymen. When You Have - A clearly defined and documented Business Strategy you will know what steps to take and when to take them. When you know the answers, the questions will not bother you! Just like when you took a test in school in your favorite subject, it was fast and easy! When The Economy Is Expanding - Demand for construction rapidly and almost overnight outstrips supply because so many contractors gave up and left the industry. Well Intentioned Yet Unseasoned Contractors - Seize the opportunity to grow their businesses rapidly by haphazardly bidding and winning projects without giving any thought to calculating their company Expansion Path Isoquants, infrastructure, logistical support, working capital requirements, Job Costs or Key Performance Indicators (KPI). The Inevitable Chaos - Caused by too much work and not enough labor, material, other costs and subcontractors (LMOS) leads to the contractor becoming a pipe through which money flows with increasing velocity and not in a fun way. This Is The Leading Cause For Large Contractors Going Bankrupt - The construction company starts small; the owner is a visionary who understands the "Tangible" side of the business. They know how to bid, sell, produce and manage the company as it grows to roughly $5,000,000 in annual sales without having a clearly defined Business Process Management System or Strategy. When They Take Their Business - To the next level not having a strategy or as I refer to it the "Intangible" side of the management equation, they often end up going bankrupt, several times in most cases, before hiring us or someone else to help them put together a strategy that includes the "3 P's" Processes, Procedures and Policies. It has been said, "The same law that binds the ignorant frees the wise" Proactive Construction Companies- Who invested time and money getting their Business Process Management systems in place use The 80 20 Rule to grab a nice big thick slice of Market Share Pie and laugh all the way to the bank! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0126 And It Will Be About Uniquely Profitable Contractors Use Single Source Suppliers Contractors Who Are Hard-Ball Negotiators Can Skip This Article Fair Minded Contractors Who Want Extreme Wealth Keep Reading! Relationships can make you or break you; financially, professionally and personally. Stephen R. Covey has written and spoken extensively on this subject and most notably in his book The 7 Habits Of Highly Effective People. The idea is when you first meet someone you automatically credit that person with a small amount of emotional trust and they do the same for you. In due time you both make deposits and withdrawals into and out of each other's emotional bank account. The key is to make far and away many more deposits than withdrawals and keep the withdrawals to a minimum. Do Something Good For Someone And You Made A Deposit Do Something Bad To Someone And You Made A Withdrawal If your word Is Law and you keep your agreements, no matter what, you will make massive deposits into the emotional bank accounts of everyone who knows, likes and trusts you. If someone's word is worthless and they rarely, if ever keep their agreements, they make massive withdrawals out of the emotional bank accounts of everyone who knows them. In the end they pay a heavy price in terms of peace of mind and cold hard cash. Every Hard-Ball Negotiator I have ever known has a negative balance with everyone they meet including their friends and family. Every Fair Minded person I have ever known has enormous positive balance with everyone they meet and especially their friends and family. And that positive balance can be used, sparingly and with caution to everyone's benefit and it will generate hefty piles of cold hard cash. During all the years owning and operating construction companies we developed working relationships with all of our material suppliers, tool vendors, staffing agencies, tax preparers, attorneys, truck and van dealers, automotive repair shops, oil change stores and every other item we needed on a regular basis. Step #01 Make A Short List Of Suppliers And Buy A Few Things Rate the list from A-E based on convenience, how they treat you and price. Then narrow the list down to one for each category and that will be your "Prime Supplier" for that product or service. Step #02 Setup A Lunch MeetingSetup a lunch meeting with the sales representative or manager and suggest that you would like to make their company your "Prime Supplier" for whatever it is you purchase there. Make it clear that if they do not or cannot supply your needs in a timely fashion you will go to the next supplier on your list for those items. In exchange for your commitment ask that to always be given a fair price and terms for everything you purchase. Not a super-duper-low-ball-sharpen-your-pencil-cut-costs-to-bone-killer-deal, just a fair price and terms. Step #03 Honor Your CommitmentThey will know very quickly your word is Law and you keep your agreements, no matter what. This may seem strange at first; however, in the long run your reputation will precede you and if someone is not treating you fair another supplier will be on your door step ready to serve you. Now For The Big Money $$$$ Every business has excess inventory, underutilized capacity and always looking for ways to maximize profits and minimize losses. It costs roughly 5X more to acquire a new customer than it does to keep a current customer so keeping current customers happy is the number one priority for all successful companies. Free MaterialLet's say you are a plumbing company and you use a lot of fixtures and faucets and one of the major manufacturers wants to get their new line of fixtures and faucets into the hands of plumbing contractors. Often times they will contact plumbing wholesale suppliers and ask if they know any plumbing contractors who would like some FREE fixtures and faucets in exchange for providing a testimonial or an endorsement. Major sports stars and racecars generate a huge pile of cash promoting products and smart contractors have been doing it for decades! Turn Excess Inventory Into CashDo you have excess unused inventory in your shop? Is there a Prime Supplier you work with that would take it off your hands either for immediate cash (deep discount) credit against future purchases (slight discount) or consignment? Many successful high profits, cash rich, contractors buy up the assets of their competitors and take the excess inventory directly from the point of purchase to the Prime Supplier and end up 100% or more Return On Investment (ROI). Job AccountsYou have unlimited access to funds to buy material if your Prime Supplier offers "Job Accounts". This is a simple yet powerful tool. Your Prime Supplier sets up separate accounts for each large project you are working on; and all of the material and supplies that go directly to that job are billed separately, and tied to the property itself. In most cases it means you will get joint checks made out to you and the Prime Supplier. They take their part and you get your part.Instant Qualified Referrals Every Prime Supplier is asked by the public and their friends and contacts for contractor referrals. Every roofing supplier, plumbing part supplier, lumber yard, window manufacturer, tool salesman, cement supplier etc. Your relationship with these Prime Suppliers can generate ridiculously obscene amounts of money with little or effort on your part. Can you visualize your cash flow and profits rising? I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0125 And It Will Be About Unique Bad Bookkeeper Thirty Eight Traits Kill Contractor Profits It is important to understand the difference between Professional Bookkeepers, Regular Bookkeepers and Bad Bookkeepers. Professional Bookkeepers invested the minimum of 10,000 hours that it takes to master the profession. And they continue to learn, and educate themselves with formal and informal class room training, seminars, webinars and related tools 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. The Bad Bookkeeper Traits Are In Order From The Most Dangerous To The Least Dangerous 1. They train the contractor like an organ grinder trains a monkey, click here to learn more 2. They refuse to invest time and money in continuing education because they know everything 3. They are passive aggressive and will study you and your staff to learn how to manipulate everyone 4. They are masters at gaining power over you, your staff, and new employees and outside suppliers 5. They hate change and will fight tooth and nail to stop it or they will destroy your company 6. They know you're responsible for taxes, fines, penalties and interest; so this is where they get even 7. They know how to increase your quarterly tax return costs, click here to learn more 8. They understand that bookkeeping is 90% repetitive transactions and 10% complex transactions 9. They don't know what to do with complex transactions, so they put them wherever they feel like 10. They have side jobs working for other companies or an entire bookkeeping business on the side 11. They decide how much integrity, if any, your company has and they tell everyone who will listen 12. They create a miserable work environment causing turnover in your staff which costs you money 13. They make your customers and clients feel unwelcome and unappreciated which costs you money 14. They act as if they are serving time in jail and do the minimum required to keep their job 15. They say things to suggest businesses are bad and construction company owners are the worst 16. They are jealous of your success and even more so if they ever had a failed construction business 17. They don't learn anything new, whys should they, nobody is reviewing the QuickBooks 18. They never learn anything new unless the company pays for the training and it is on the clock 19. They quit when the tax return is being prepared because QuickBooks is a mess and they're caught 20. They come in a little bit late every morning and leave a little bit early to make up for it 21. They bait you with drama, nasty comments and minor actions to find your tolerance limit 22. They get even with you for every perceived injustice against themselves and society as a whole 23. They keep you busy with lots of mindless crap to divert attention from why the books are a mess 24. They let you think you are in control of the bookkeeping and the bookkeeper until it is too late 25. They make you think they are looking out the best interest of the company! 26. They let the work expand to fill whatever time you are willing to pay them to get it done 27. When they quit or get fired expect to hear: “Chaos, panic and disorder...my work here is done” 28. They become indispensable in order to take time off whenever they please and hold you hostage 29. They negotiates for additional perks, benefits, changes, and elimination of personal accountability 30. They network for a better job with your clients, suppliers, vendors and your competitors 31. They represent themselves to outsiders as the owner or manager with decision making authority 32. They text, message, e-mail, surf the web, chat on the phone and socialize on company time 33. They train you to leave them alone by getting upset or angry whenever you want anything 34. They work hard at causing just enough chaos so owner does not earn more than the bookkeeper 35. When your business fails they tell everyone you were incompetent and they saw it coming 36. They live in a chaotic, neurotic, psychotic, selfish, disorganized, blame game environment 37. They work through lunch to leave earlier in the day (At the office for 7 hours and get paid for 8) 38. What Happens When A Bad Bookkeeper Is Mad At You? Worse Than What Happens When The Cook Is Mad At you! In The End - Bad Bookkeepers will leave you with: unfiled and unpaid taxes, gasping, upset, with tear stained checks, wide-eyed, stupid, mouth open, standing in the middle of the highway of business success staring at the remains of your business, crashed, rolled over, upside down, in the ditch, on fire, with flames belching from all sides with no hope in sight. And then things get real ugly as you recall reading The General Contractor And The River Of Construction Commerce and realize all of this could have been avoided! I have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases it was Bookkeeper Incompetence or Bookkeeper Embezzlement and in other cases it appears to me there may have been some deliberate identity theft; however, I cannot be certain. All I know for sure is that I have witnessed business failures that have led to divorce, families destroyed, finances wiped out and people living on the streets. In a few extreme cases I know of contractors that have taken their own lives and it needs to stop! Replace Your Wealth Prevention Bad Bookkeeper  Before It Is Too Late! Outsource Your Bookkeeping To Us Now! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0124 And It Will Be About New Contractors To Seasoned Builders We Know What To Do We invested over 20 years owning and operating construction companies including service and remodel firms. We sold our last construction company in the year 2000 which means we are not your competitor, rather the opposite. We are experienced contractors helping contractors get more from their accounting system. A google search of construction accounting software will return over 17,000,000 results. It is estimated there are over 4,000 companies that produce construction accounting software. Among the top 10 the costs range from several thousand dollars to several hundred thousand dollars. QuickBooks is listed in only a fraction of the google searches for construction accounting software and yet it has a massive number of contractors who use it. A google search of construction accounting services will return over 52,000,000 results and www.FastEasyAccounting.com is always on the first page. The reason is we specialize in providing construction accounting, contractors accounting, contractor payroll and payroll tax processing, contractor bookkeeping services. We turn away a lot of companies because what they do is not related to construction. Our competitors, bless their hearts, are all things to all people. They accept any and all businesses, restaurants, bars, chiropractors, contractors, florists, trucking companies, babysitters, and more. They do not understand the complex nature of construction accounting vs regular accountingIn special cases we accept car repair, mobile food vendors and concessionaries, janitorial, house cleaners and other types of companies that are project based, which means they create and sell a unique product or service.As a contractor you need someone who truly understands you and what you do and someone who can offer you guidance when you ask for it.Contractors Often Ask How We Save - Them $100's or even $1,000's dollar a year when they can do the bookkeeping themselves or hire a Cheap Bookkeeper? Read our article Cheap Bookkeepers to find some shocking information revealed!The System Is The Solution - In 1991 while operating a successful construction service and repair business we started work on a Comprehensive Construction Bookkeeping System. Since then we have made thousands of improvements and we are continually updating, improving, innovating and enhancing it. Having worked with contractors and seen 100's of QuickBooks files, met with lots of bankers, bonding companies and commercial insurance brokers in addition to our own experiences owning and operating construction businesses.Contractors Who Are Doing Their Own Bookkeeping In-House should expect to invest at least $15,000 in office equipment and related technology and software. Contractors who outsource their bookkeeping to use can get by with less than $2,000 because all they need is a computer, notebook or tablet, printer and a scanner. See also What Ten Minutes Waste Costs Your Construction Company and you will get a better idea why the best construction accounting service you can afford is actually cheaper than trying to do it in-house.Fixed Price Contractor Bookkeeping Services Like Ours - Invest over $100,000+ in office equipment, technology and software plus another $150,000+ to renovate and prepare office space for staff and clients to use. Even with all of the costs incurred in having, a professional contractor’s bookkeeping service the amount of bookkeeping clients each one of our staff can handle is well over THREE TIMES the number clients most amateurs working alone or out of their home which is why in most cases we can provide more services and more bottom line results for contractors and do it all more for less money.Having owned and operated - Several construction businesses over the past 30+ years we understand a thing or two about best practices when it comes to Construction Bookkeeping And Construction Accounting as it relates to owning and operating a profitable construction business.In 2004 I Passed the PMP (Project Management Professional) exam after several years of construction project management experience and with an emphasis on 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.One Of The Keys To Success - Is intelligent delegation, relying on processes, not abdication, letting people do whatever they please. This means we have processes and procedures for how tasks are done, in what order similar to an assembly line. The table and diagram below shows how tasks are delegated to the lowest skill level and yet everything is reviewed by a competent accountant! Some Insights How Our Contractors Bookkeeping Services Process WorksLet me introduce you to some personality traits of our professional Construction Accounting Services staff members starting with the different departments.Paperwork IntakeThere are a number of ways to get paperwork to us in hard copy and soft copy. Whichever way works best for you. You can: Mail it to 19909 64th Ave West, Suite 201- 2nd Floor, Lynnwood, WA 98036 Bring it by during office hours or special office hours for contractors SnoKing Contractors Center Members have 24/7/365 access to meeting rooms and leave paperwork in the lockbox Put us on your vendor list for bills and statements emailed directly to us Drag and Drop from your desktop or email. Click here to find out how For more details of how to get documents to us click here Send it by taxi cab Fax it Email it FedEx it UPS it Use ScanSnap scanner and send paperwork with the push of a button! If you get a ScanSnap scanner we have people who can set it up remotely and link it to your Paperless Document Vault. You simply load the documents; push one button and the documents are automatically scanned and uploaded to your company’s Paperless Document Vault Inbox. Our contractor bookkeepers retrieve the documents; input them into your QuickBooks file. Next, the documents are filed in a way that makes it fast and easy for you look any saved document, download it, print it or email it. For more on how to get soft and hard copy paperwork to us Click Here Paperwork SorterWhat paperwork do we want?  The short answer is all of it and we will sort it out between what goes into QuickBooks for Contractors and what is not.  You do not have to organize any of your paper before bringing it to us because we have a process for that. Paper documents arrive in bags, boxes, envelopes, pouches, carts and other methods. Soft documents arrive in emails, paperless server Inbox, flash drives, hard drives and our secure client portal.When we are finished with your paperwork, it returns to The Paper Sorting Department for reorganizing, packaging and storage until you retrieve it or we ship to you depending on your arrangement with your Customer Service Representative.These friendly people sometimes work the reception desk because they have not yet been exposed to the trials and tribulations of contractor bookkeeping services. They are well paid and happy because they are doing the work they love in a clean well-lit comfortable environment.The Paper Sorting Department has their own special operations manual with detailed instructions, which means they know exactly know what to do.Role of the Paper Sorting PersonHaving owned and operated several construction companies we are not soft, weak, timid bookkeepers that need pampering and are easily offended. In fact, quite the opposite, we require all staff members to have construction experience before seeking employment with us. They have to deal with all kinds of paper with coffee stains, dirt, mud and worse, wrinkled, crumpled and torn and have lots of patience. Construction Data EntryConstruction Data Entry is like flying an airplane…95% boredom and 5% sheer terror! We have a process for keeping the data entry staff at the 95% boredom level and out of the 5% sheer terror part. These are nice people. They are well paid and happy because they are doing the work the love in a clean well-lit comfortable environment. Construction Data Entry Staff members have two large crisp clear computer monitors, snacks and beverages in an office with state of the art climate controlled system and all of the hardware and software tools they need to do their job. We do not allow them to work with the 5% sheer terror complex construction accounting transactions. They have their own special operations manual with detailed instructions so they always know what is expected of them. Role of the Construction Data Entry PersonTheir duties include checks, receipts, credit card transactions, debit card transactions; simple bills reconciling bank statements, credit and debit card statements and vendor statements. Construction BookkeeperConstruction Bookkeeping is all about the other part of flying an airplane…the 5% sheer terror part! We have a process to help our construction bookkeepers work with high risk, high stress transactions. These are not nice people. They are well paid and happy because they are doing the work the love in a clean well-lit comfortable environment. Construction Bookkeepers have up to four large crisp clear computer monitors, snacks and beverages in an office with state of the art climate controlled system and all of the hardware and software tools they need to do their job. We allow them to work primarily with the 5% sheer terror complex construction accounting transactions because they have deep knowledge and are highly skilled in construction bookkeeping. Their work is very stressful due to the complexity of the transactions they are assigned. They have their own special operations manual with detailed instructions so they always know what is expected of them. Role of the Construction BookkeeperTheir duties include non-recurring checks, bank transfers, wire transfers, sweep accounts, tracking retention due to you, tracking retention due to your subcontractors, setup and updating customer and vendor contact information, inputting time cards, simple General Journal entries, receipts, credit card transactions, debit card transactions, bills and employee advances and employee reimbursements. Construction Payroll SpecialistConstruction Payroll is one of the toughest jobs of all because there are deadlines that must be met no matter what happens. This is also part of flying an airplane…the 5% sheer terror part! We have a process to help our construction payroll staff work with and manage contractor’s payroll needs. These people are un-bearable and we keep them away from the public whenever possible. They are well paid and happy because they are doing the work the love in a clean well-lit comfortable environment. Construction Payroll Specialists have one or two large crisp clear computer monitors, snacks and beverages in an office with state of the art climate controlled system and all of the hardware and software tools they need to do their job.They are highly skilled in construction payroll with nerves of steel and laser focus. They have their own special operations manual with detailed instructions so they always know what is expected of them. Role of the Construction Payroll SpecialistTheir duties include reviewing the time cards, preparing payroll, setup and updating employee records, employee advance repayments, W-2, W-3, 940 and 941 payroll reports, workers comp reports, unemployment reports, garnishment answers and payment tracking, child support and more. We do not prepare the checks or make any payments on behalf of Contractor Name. We do all the work behind scenes to make that step fast and easy for Contractor Name’s responsible person to complete. Construction AccountantConstruction Accounting is where the buck stops! No excuses and nobody to pass anything on too. These people are like Dr. Spock on the television series Star Trek, all business and no sense of humor. They do their best to make certain everything in the entire construction accounting system running smoothly, everything is where it needs to be and everything balances properly. We keep them away from the public whenever possible because if you ask what time it is they will tell you how to build a watch. They are well paid and happy because they are doing the work the love in a clean well-lit comfortable environment. Construction Accountants have multiple computers with multiple crisp clear computer monitors, snacks and beverages in an office with state of the art climate controlled system and all of the hardware and software tools they need to do their job. They are highly skilled at dealing with construction accounting issues. They have their own special operations manual with detailed instructions so they always know what is expected of them. Role of the Construction AccountantsTheir duties include Fixed Asset management, depreciation schedules, complex Payment Applications similar to G-702 & G703, HUD-1 Statements, Inventory, complex Invoices with multiple Job Deposits and Payments, complex General Journal Entries, Year-End Journal Entries from the annual tax preparer, setup and modifying Chart of Accounts, Items, Report Structures, Insurance Audits and more. Project ManagerProject Managers at Business Consulting And Accounting are responsible for making certain that we are constantly improving, innovating and finding ways to increase efficiency and effectiveness in our system that will make your experience of doing business with us easy, predictable and pleasant. Project Managers seek out new software, hardware and best practices from our competitors. When they find something worthwhile, they add it to our Business Process Management (BPM) Strategy.These people are nice most of the time; however, their head is always in the clouds talking about finding ways to make everyone’s job easier with innovations and processes. They do not sit still very long.Project Managers have two large crisp clear computer monitors, snacks and beverages in an office with state of the art climate controlled system and all of the hardware and software tools they need to do their job.They are highly skilled in process development, innovation and highly organized. They have their own special operations manual with detailed instructions so they always know what is expected of them.Role of the Project ManagerTheir duties include Business Plans, Process Development, Process Improvement, Systems Engineering, Six Sigma, Deming Methodology, MR>MC, Breakeven Analysis, Earned Value Reporting, Cloud Computing, Cloud Based QuickBooks For Contractors, Paperless Document Vaults, Cloud Based Financial Reporting and more. Contractor’s Business MentorContractor’s Business Mentor is a great person to get to know and spend time with because their job is to help you achieve your definition of success. Helping you understand and use the financial reports one of the tools they use. Contractor’s Business Mentor works in several locations, their primary office and in the conference room with seating for ten people, state of the art climate controlled system and all of the hardware and software tools they need to do their job. In addition, they are mobile contractor’s business coaches who can visit your office or jobsite and perform a business assessment to determine if there are ways to get more production and increase profits. Everyone benefits from coaching, especially high performers.   They sometimes provide so much good information that contractors have reported that two hours with our Contractor’s Business Coach in person, over the phone or during a web cast is a real treat! They have their own special operations manual with detailed instructions so they always know what is expected of them. Role of the Contractor’s Business MentorTheir duties are similar to the Project Manager except their primary focus is helping Company Name develop with Business Planning, Process Development, Process Improvement, Systems Engineering, Six Sigma, Deming Methodology, MR>MC, Breakeven Analysis. Contact Sharie at 206-361-3950 or email [email protected] for more information about setting at appointment for a session. Customer Service ManagerCustomer Service Manager is your primary contact at Business Consulting And Accounting similar to a concierge in a Five Star Hotel who caters to your every need, except there is no tipping allowed. They work have their own private office as well as several conference rooms and guest offices. They have their own special operations manual with detailed instructions so they always know what is expected of them. Role of the Contractor’s Business MentorTheir duties include being your single point of contact, which means you usually talk, email and communicate with the same person. This helps you develop a relationship with someone who listens and understands you and your company’s needs. They act as liaison between you and the rest of the staff at Business Consulting And Accounting. Feel free to ask for anything and they will do their best to accommodate you. They are always friendly, helpful and supportive. This person has extensive training and experience in construction office management, taxes, payroll, insurance audits and more. No matter what happens in your company if you need help or a referral for an attorney, annual tax preparer, chief cook and bottle washer this is you go to person. The head of the department is Sharie and she can be reached at 206-361-3950 or email [email protected]. Business OwnerYou Are The Most Important Person In Your CompanyAs a construction company owner, you know which parts of your business only you can and should be doing and which parts to give to someone else.Good accounting records combined with Business Process Management (BPM) can help provide answers for making informed decisions.Every piece of paper has a story and your mind will replay that story repeatedly, which is why it is important to have someone else doing your contractor bookkeeping so you can focus on operating and growing your construction company sales and profits.Role of the Company Name OwnerSee the vision of what Company Name will become in the future. Communicate your Vision to your employees, staff, us and anyone directly affected. Develop Strategy For Company Name to help make your Vision a reality. Make decisions based on good solid reports. Need A Mentor? - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0123 And It Will Be About A Unique Contractor Investment That Can Exceed 100% Return How Many Places Can You Find With Strong Chance Of 100% Return On Investment?Let Me Say - If something seems too good to be true it probably is and you should stay far away from it. However, if you have read anything I have ever written you will know that I do not gamble! I did lose fifty cents in a Casino in Vegas in the early 1970's and have not gambled since; and I am still mad about it! I Do Like Managed Risks - Which is anything I can control the input and have a greater than breakeven chance of making a profit. I pay close attention to the higher levels of math and how it is used to predict with a degree of accuracy probable outcomes. Decision Modeling Is One Of My Favorites - Decision modeling use reliable QuickBooks reports to generate predictions of profit and loss based upon re-allocating resources and aligning your Business Process Management system processes to present to you a variety of possible outcomes. As possible outcomes are analyzed decisions become easy because the goals, processes and data come together. It offers you a way to attach knowledge, expertise and analytic insights. As Contractors Move Away From Gut-level Decisions - And begin relying on their construction accounting systems to provide useful financial and job costing reports the open a treasure chest busting at the seams with useful knowledge which can lead them to earning massive profits and by extension increase their personal wealth exponentially. Knowledge Leads To Profits And Cash FlowWhat Makes Knowledge Powerful?Use Of Knowledge! If You Could Harness And truly understand even half of the information contained in your existing QuickBooks company file and I mean truly understood it, you could easily become a wealthy, debt free and be living the lifestyle you truly deserve in five years or less. One Tiny Bit Of Knowledge High Profit ContractorsUse To Get Over 100% Return On Investment They Provide Snacks And Beverages - For their field workers and office staff. What you say? It costs money! How is spending money going to make me money? Perhaps you think I am crazy! For Example Let's Look At One Field Worker Named Henry: Henry may or may not have a hearty breakfast before coming to work at the construction site depending on a variety of factors outside your control and perhaps his too. If Henry Is Hungry - His body does not have enough fuel to produce good quality work efficiently at 100% and it will show. If Henry Is Not Hungry - He will produce at 100% in less time with fewer mistakes and that saves time and money on your labor, material, warranty work and other costs. If Henry Wastes Thirty Minutes A Day - And you pay him $25.00 an hour that means with all of the employment taxes and overhead he costs you roughly $35.64 an hour. Which means you lost you lost $17.82 on what can be measured. What cannot be measured; bad attitude disease, rework, warranty repairs, excess wear and tear on tools and equipment, etcetera is equal or greater than $17.82. A Construction Worker Paid $25.00 Per Hour Could Who Waste Ten Minutes A Day Could Cost Your Construction Company $1,544.42 Each Year In Lost Profits! At 10% Profit You Need $15,544.20 More Sales To Maintain Profit Your Profit Margin! After A Couple Hours - Intense construction work Henry gets dehydrated and having burned a number of calories, he could be getting important messages from his stomach regarding FOOD NOW! This could cause Henry to slow down a little bit....costing your company some profit dollars. Lunch Time - Henry didn't pack a lunch, wants to "work through lunch" and leave early. If you watch Henry real close around 02:00 PM you will see the metabolism dance right out of his body and now he is uncomfortable and getting a bit edgy, grouchy and a slightly nasty. 02:00 PM Until Quitting Time - Is when Henry will screw something up, get careless, get hurt and require medical attention, (Ca-ching $$$, Labor and Industries investigation, ca-ching $$$) or if you are lucky his afternoon production will be roughly 80% of his morning production. Let's Run The Numbers Without Snacks And Beverages your stand to lose $53.46 on labor costs and $22.81 on material waste for a total loss of $76.27. See http://www.fasteasyaccounting.com/blog/bid/200304/Unique-Contractor-Investment-Can-Exceed-100-Return for all the details. With Snacks And Beverages you stand to gain $41.38 after investing $5.00 +/- per employee. Cost Of Snacks And Beverages Get a large cooler and assign someone to stop by the grocery store or convenience store and pick up two bags of crushed or cubed ice and a selection of single serving ice teas, bottled water, juices and other beverages and possibly some energy bars and related snacks. Investment per construction worker will be roughly $5.00 +/- Bonus Profit Enhancement Strategy If you really wanted to increase profits consider having lunch delivered to the job site every day. You could alternate between Pizza, Sandwiches, Chicken, Tacos and whatever else makes sense to you. We Did This in All Of Our Construction Companies - For over 20 years and it ALWAYS generated more profits than it cost. In our case, a lot more than a measly 100% Return on Investment. Our Contractor Clients - That are doing this show a substantial Return on Investment. We know it is true because we provide all of their contractors bookkeeping services needs. Their are profits that are slipping through your fingers and you didn't even know it because "Profits Are Made In The Office, Not In The Field" - Randal DeHart What You Don't Know Can destroy profitability because it is hidden. If you don't know how to analyze your QuickBooks reports get someone that does, perhaps Fast Easy Accounting. The Same Scenario Applies To Office Staff - Which is covered in great detail here: http://www.fasteasyaccounting.com/ten-minutes-can-kill-your-company-profits/ When You Come To my office and start complaining about how much you are paying more in income tax since working with us than you used to earn in a year that makes me very happy! Because That Means You are no longer struggling to make ends meet; rather, you are building a financial estate that will provide passive income to support you when you retire. Growing Profits By The Inch Is a cinch works great because we did it for years in our construction businesses and we do it now in our accounting office. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0122 And It Will Be Interview Of Daniel Eric Bowling From SmartTradesmen.com   Tell us about your background and how you came to be where you are now I once co-owned a custom furniture design company, I have done many construction jobs including commercial drywall finishing, and most recently I have jumped into the world of online business.Upholstery is the trade that I am most known for.  I spent the last 10 years mastering this dying trade.  As I was mostly self taught and also younger than most in the trade, I brought in a fresh perspective.  While everyone else has this idea of a cookie cutter business with overhead and lots of expenses… Once I left my for company, I went a different route.  Low overhead and double my prices.  What I do is an art, so why not treat it as such.There are times that work gets a little slow, but when you charge what you're worth it is easier to make up the difference.  I have found that in the slower times, I can make GOOD money.  But when everything falls into place.. I can make GREAT money and all it took was a change in mindset.  Swing for the fences when you have everything set up ready to support your workload.Last year I had one job that brought in 10K in less than a week.  In the Smart Tradesmen way of doing things, working with other talented individuals is the quickest way to success.  That being said, this big job was mostly sewing.  I outsourced to my friend and former employee, who is a seamstress.  I paid her $2K to cut and sew.  She did this in less than a week.  Then I had 2 days of install and made $8K.  It all came down to charging what I thought it was worth to them.  Not how long will it take me.  Value yourself, and your knowledge.I believe podcasts are very powerful and will be vital in my marketing strategy for this next year.  By the time this episode goes out, I will have launched my 2nd podcast called Smart Tradesmen.  Smart Tradesmen the podcast is designed to help bring entrepreneurship into small business, where most of us just own our own jobs.We are building a great community behind the Smart Tradesmen brand.   One that is ready for a new way to do business.  I am currently building a platform to support trade based businesses and to improve the life of the Tradesman and self employed from apprenticeship to retirement. I believe in a “for the greater good” mentality, and I strive to offer as much value to the lives of those around me, as I possibly can. What are some differences between you and your competitors? Probably the fact that I do not approach anything like I have any competition.  My goal is to just be myself in life and in business, so good like competing with me on being me.  I have that market cornered.  There are no competitors in the online world.  I am looking to help that one person who needs to hear my message.  If I am the guy for the job then so be it.I know there are other upholsterers, so in the strict definition of competitors, yes they are out there.  I am unaffected though.  I only  take the jobs I want, I am honest, and I charge what I am worth. Because of that, I have some loyal customers. What problem or issue does your product or service solve?With the Smart Tradesmen community, I hope to get us all communicating so we can take our business to a new level as a whole.  A movement has begun in society, where there is a skills gap and a growing need for people to fill those skilled jobs.  I want to be out front speaking up to make sure that when the dust settles, we are getting paid what we are worth. What are three things a contractor should consider when hiring your services? Where they have been in the past, what worked for them and what didn’t. Where they want their business to be in 5 years. Where do they want to be personally in 5 years. How can you tell if someone is a good fit for your company? If they are ready to stop spinning their wheels and try something new. As far as my upholstery business, I only deal with very high end designers in the residential side of things.  I know right away if they are a fit just by the questions the ask me about my work. Commercial work is a little different.  It depends on their budget, and if I think I can make money for what they are able to pay.  It goes back to feeling out what they are able to pay and not just coming in at a low number to get the job. What types of advice do you give a contractor? Educate yourself.  Keep up with industry innovation.  Find out what new tools there are.  This includes new software or services. Use the new software, services, and systems to become more entrepreneurial. For example:  Dropbox, evernote, freshbooks, just to name a few. There are even free project management tools. In closing, tell the listeners how they can contact you. Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} [email protected] is my email address.SmartTradesmen.com is where they can keep up with what we have going on.  If they want to grab a free business jumpstart guide go to smarttradesmen.com/bizplan.  As a warning… It will force them to really look deep and ask questions that we usually avoid.  If someone is ready to take their business to a new level, then I recommend giving it a try.https://www.facebook.com/groups/SmartTradesmen/ is the community page.Twitter is @DanielEBowlingInstagram is DanielEricBowling I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0121 And It Will Be About Pressures of Life, Family Operating Your Unique Construction Company This Podcast Is From An Article Written By Sharie DeHart Sharie is voice on the other end of the phone when you call us at 206-361-3950 Calls come from Construction Contractors, Wives, Mothers, Bookkeepers, Advisors and others all wanting to find someone to reassure them that they are not crazy and what they expect and what’s expected from them is not unreasonable. On rare occasions there unreasonable expectations from all sides. Sharie will chat about your business, challenges, employees and spillover of personal stuff. Discuss The How’s Do I? (fill in the blank), What About’s, What’s Next, Can You Help?    Starting Point is with whoever calls in or emails asking her to call them. Chat may be from 10 minutes to over an hour as needed. It’s confidential – you are talking privately about your life and your concerns. Sharie is an impartial observer, for that special “Moment In Time” hopefully the voice of reason. She does her best to give support – even if it does not lead to immediate request for our services. It’s OK to end of the conversation by saying you are not ready yet or it is not a good fit. She asks that you please continue to read blogs, listen to podcasts. Sharie welcomes an email from you once in a while just to Say Hi – with a Quick Update……because she thinks about your from time to time and hope all is well.Life with a contractor can feel like being out of control for both sides.  When life gets that way – contractors turn to their most trusted team mate.From The Contactor – she hears: My wife is so good at keeping track of things – I need her help. From Your Wife See Hears:  He is so fantastic about the work, but I need help with the paperwork. Need Stuff: I can’t do a good job on bookkeeping with what I don’t have; or I don’t know how to do.   Challenge is taking a moment to remember How far the contractor has come from the beginning. This is easier when the decision to become a contactor was a planned, joint decision made by equal partners.  Wives who have a full time job (with benefits) want to help but not as a Second Full Time Job; expected to Quit Their Job to do the construction bookkeeping (guilt trip) usually are less understandingContractor Husbands reach out to their wife who their most trusted partner and Team Mate. It’s a compliment when the contractor asks for help from their wives. Remember back to that Magic Moment – When he asked Honey, Will You Marry Me?  - It was a leap of faith that you would say Yes. Did he or you know all of the challenges, life’s ups and downs your marriage would take? The answer is no.  By the nature of good husbands, they gather inner strength and step up when their wife says: Hey, Honey we are having a baby (again), Hey Honey – that illness is kinda serious (Cancer), Hey Honey, - My parents (your parents) need a Honey Do Project.  Finally the children are all grown up….quality “us time” Hey Honey – We need to provide physical or financial support to parents or other extended family members.  Seems like an endless circle where the “Us Time” and connection gets lost.Somewhere in between all these life challenges the Contractor tries to remember why he started his construction company. And he wants to have the wife chose to grow old with be there to meet him at the door, over dinner, be there at the end of the day to hold hands and recharge for the next day’s battle.   Reasons Why Husbands To Into Business For Themselves: #1 Being a contractor is what they really want to do.  #2 Career Change due layoff from job (example:  recent downturn in the economy) #3 Career Change as a planned event for next stage of a working career #4 Employee with a seizure – My boss is an idiot and I can do a better job#5 Wife wants a better future and sees the benefit of a successful contractor as the path#6 Side work turned to full time work and need to get legitimate (with or without employees) #7 Want to be the boss and grow the business  Being in a Construction Contracting Company is hard on a marriage. Pressures of running a Construction Company are huge. Today it takes more than seeing the local Yellow Page Rep, designing the biggest ad you can’t afford to make the phone ring. Incoming Money is usually unknown. Expenses are Fixed and Due Now!  #1 Multiple Customers types exist in every phase of Construction Contracting.  #2 Clients Want Best workmanship and willing to pay for it.#3 Clients Want Better workmanship at the reasonable price#4 Clients Want Good workmanship at a Fair Price. #5 Customers Want Free, Perfect, Now (Better yet, you pay them!) One of Keys to a Happy Life – Happy Wife is also true for a Happy Husband.Each know your strengths and each other’s strength (husband and wife’s)Be willing to take the time for each other (children grow up / parents grow old and need help) Be willing to be open to new ideas as new challenges arise (adapt as some are out of your control) Patience – That young adult didn’t start out driving the car – they started out as baby learning to crawl. Same is true about running a construction contracting business – improvement is steady steps. Think of it as the Tortoise and The Hare story – With a plan the Tortoise avoided distractions and Won!  And to my Husband (Randal) that I don’t say it often enough – Thanks!(while we have been talking - Randal has been planning, fixing, doing, and more) 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/ Check out our Contractor Success Map Podcast on iTunesEditors Comment:Sharie as many of you know is the co-founder of Business Consulting and Accounting and its subsidiary Fast Easy Accounting. We specialize in Contractors Bookkeeping Services, mentoring and back office support for construction contractors and related companies all across the USA including Alaska and Hawaii. Sharie is a very nice, person who is easy to talk to and actually listens to you. We met in High School and married shortly after graduation in 1973. She has extensive experience as a tax accountant, co-owner of several of our construction companies including a mid-sized Plumbing firm with over 20 employees. We opened our contractor bookkeeping firm in 1991 and kept it small until we sold our last construction company in 2000 and put all our attention on helping contractors, homebuilders, trade contractors, handymen, and handywomen like you achieve your financial dreams. And yes, it all starts with good solid reliable financial and job costing reports. Good solid bookkeeping is the cornerstone upon which every profitable contracting company is built. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0120 And It Will Be About Contractors Who Turn Their Wives Into Construction Bookkeepers Are Headed For Divorce There is a storm brewing on the horizon and I have to address it before it is too late in an effort to help save a few good marriages. Lately there has been a surge of contractor's spouses who have left and filed for divorce and a lot more are on the edge. Girlfriends do not have as many reasons to stay so they usually pack up and leave early. I was very fortunate to meet a wonderful woman in high school, Sharie, and we married the year after we graduated while I was attending college majoring in accounting. As it happened I was raised in a family that earned a living as contractors. Sharie and I spent many years working side-by-side starting, owning and operating several construction companies so this article comes from the heart as someone who lived it. One fine sunny day in 1991 after I had been especially arrogant and short-tempered Sharie said to me: "Enough is enough! You need to get somebody else to do the contractor bookkeeping because I am done!" That was a serious wake-up-call. Suddenly I had a major problem and needed to develop a Contractors Bookkeeping Services System because using QuickBooks as a check register was not going to work especially since I needed to hire a bookkeeper right away.In six short months I developed a simple rudimentary contractors bookkeeping system which has evolved to the professional contractors bookkeeping services system it is now and I sincerely believe it helped save our marriage and perhaps could help save yours too! Here is what I see repeated many times over. Contractors cross the line and begin treating their spouses as indentured servants who should be grateful for a place to live, food to eat and a bed to sleep in exchange for: Providing the much needed contractor bookkeeping services including: Job Cost Reports Financial Reports Process Payroll File Monthly And Quarterly Tax Returns Balance The Checkbook Filling Out Loan Applications Tracking Employee Loans Issuing Invoices To Your Customers Riding herd over subcontractors Working with suppliers and vendors Keeping Track Of The Bills Paying The Bills Reconciling Checking, Savings And Credit Card Accounts And Several Dozen More Construction Accounting Chores This Is In Addition To Maintaining A Clean And Tidy Home: Doing the shopping Being the chief cook and bottle washer Running errands Taking care of the children and pets Playing nurse when a family member is sick Planning and preparing for holidays, birthdays anniversaries and special events And juggling dozens of other chores and tasks After a while all spouses get worn out, run down frustrated, depressed, and emotional and in some cases desperate enough to take radical actions to relieve the unbearable pain even to the point of suicide. In most cases you, the contractor, are not at fault; because you are being hammered by customers who are doing everything they can to drive the price of everything and everyone into the ground in what they see as a battle and a twisted attempt to get something for nothing, dare I say entitlement? I have a suggestion how to fix that later in this article. Here Are The Dirty Dozen Issues Your Wife Is Facing: #01 You do not understand there is a world of difference between construction accounting and regular accounting. If you would like to learn about what makes construction accounting different from regular accounting please visit www.FastEasyAccounting.com/ca #02 You start the business and ask your wife to "do the books" saying "It should only take 10 minutes a day” and not knowing any better she agrees with you. #03 Very quickly she begins to realize she is in trouble and way over her head because she doesn't understand construction accounting let alone how it can be done in “10 minutes a day”. #04 Her resentment toward you starts to build inside her like a small camp fire and grows into a raging wild forest fire as she is faced with the prospect of feeling a failure because she let you down or perhaps feeling like she lied to you about being able to handle the contractor bookkeeping services. Now she is concerned you may begin to doubt her honesty and her worth as a person. #05 She does not know that it takes 10,000 hours of training and practice to become skilled in regular accounting let alone the additional 10,000 hours of training and practice required to become a highly skilled construction bookkeeper and another long grueling set of years of training and practice that it takes to become a construction accountant.#06 Worse yet if she has any experience in regular accounting then she is lead to believe that construction accounting is no different that is recipe for disaster.#07 She is deathly afraid of filling out the dozens of state, federal and local tax forms that need to be filed every year. What if there is an audit? What if she paid too much tax, too little tax, filed a return late? The taxes will not bankrupt you but the fines and penalties can and it will all be blamed on her.#08 She has to constantly ask you and your construction workers for paperwork and you say "stop nagging me and the other employees" which causes hurt feelings for everyone involved.#09 All day your spouse is being interrupted while trying to get the bookkeeping done. Friends and neighbors call or drop by to visit. Customers call about when you will be at their house to finish their job, suppliers calling for money, kids need lunch, rides to activities and on it goes.#10 Frantic invoicing issues as you remember you need to send an Invoice to a customer to get paid and you forgot so you add that to her overloaded workday.#11 You ask for Financial and Job Cost Reports and get upset when she says they are not ready. What she is really saying is "I don't know to generate accurate reports" which causes more tension and hurt feelings for both of you.#12 When you do get Financial and Job Cost Reports your first response is to argue with them and blame your wife for not getting them right. You say "There is no way we are that far in debt" or "What do you mean that last job didn't make any money?" "I needed that new truck and now you are telling me we are out of money". Continual hurt feelings make her numb then she slides into depression which turns into despair and finally the love is gone.I could go on for many more pages and never cover all of the reasons making your wife do your construction accounting was the reason they gave up asked for a divorce.The answer is simple. We have helped save a lot of marriages by working with contractor’s wives and showing them how to do the things they are good at like managing the money, paying the bills, customer service and other management tasks and letting us take care of the contractors bookkeeping services.Most of the time the contractor ends up making more money because everyone does what they are good at doing and they have 24/7 access to all of the reports they could ever want with our web based contractors bookkeeping services financial reporting tool. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0119 And It Will Be About What Is Ten Minutes Costing Your Construction Company Profit Drain #1 In-House Bookkeeper Until Your Construction Company - Reaches at least $5 million in annual sales you cannot afford to hire a qualified bookkeeper or construction accountant.For Example - You Hire someone with bad habits who is a Cheap Bookkeeper part time at  $15.00 an hour for 10 hours a week thinking you will save money. The problem with that is you may not understand the true cost to have them on your payroll, including overhead, is closer to $25.29 per hour. Click Here For More   Every Ten Minutes Your Bookkeeper Is Costing You $4.21 Every Ten Minutes A Day Of Unproductive Office Labor Could Cost Your Company $273.93 Every Year At 10% Profit You Need $2,739.30 More Sales To Maintain Profit MarginIn Some Cases - We can do more work for less money by providing you with real construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more at a lower overall cost and as an added bonus show you how to make more money than you are now! Profit Drain #2 Cheap Tools And Equipment Cheap Tools And Equipment - Cost a lot of money that you cannot see; out-of-sight means out-of-mind. Invest in the best tools and equipment you can afford because in the short run you will save money. Construction workers who take pride in their work produce better results faster with fewer repairs if they have quality tools and equipment. Every Ten Minutes Your Construction Worker Costs You $5.94 Every Ten Minutes A Day Of Unproductive Construction Worker Labor: For Employee #01 Could Cost The Company $1,544.42 Each YearAt 10% Profit You Need $15,544.20 More Sales To Maintain Profit Margin For Example - Your best construction worker asks for a tool:·    It costs $1,200.00·    It will save ten minutes a day in labor·    It will last 3 years·    The standard response is the company can't afford it! Highly Profitable - Construction company owner's will ask their construction accountant to calculate the projected the Return on Investment (ROI) is and then consult their Strategic Business Plan to make an informed decision.In This Example - It may make sense to finance the purchase even if it means using a credit card at 12% interest because the net return is $3,289.36 which is 245% ROI.  Two Contractors Doing Similar Work - For similar customers with the similar direct and indirect construction costs will have massively different KPI Reports including the Profit and Loss Statements. Size matters when it comes to piles of money and bigger profits! Construction Success is a few simple disciplines practiced everyday Construction Failure is a few errors in judgment repeated everyday Need A Mentor? - Someone who has been were you want to go and can guide you. We would like to be that person for you. Fill out the form on the right or call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation 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. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0118 And It Will Be An Interview With Jason Sturgeon From Arcade Consultants The first step of every client’s journey with me is the initial conversation. Whether across a table over a cup of coffee or lunch, on the telephone, or across distance via Skype, it’s important, as a consultant, to have a deep, meaningful conversation about what an organization needs, how it breathes and what the working pieces are, before we can talk about solutions. The exchange of information, during these chats, is not one sided, either. Prospective clients need to know more about me. Who am I? What, exactly, do I do? How do you know that I’m the right consultant for your organization? Over the course of many of these conversations, it has become clear that the first few questions are always the same – clients need all the same answers before they are ready to move on to the part of the conversation that pertains more directly to their own situation, and I am happy to have that discussion. However, it recently occurred to me that if this is the first information that clients look for when they get me on the phone, perhaps it’s information they should have access to before we even get to that first conversation. In that interest, I offer, Arcade’s FAQ: What qualifies you to be a consultant? What experience do you draw from when you give companies advice?I started my career in construction when I was 15 years old, installing roofing and siding for my brother’s company over the summer to pay for my college education. While I learned about construction management in school, I worked my way up through the ranks of first, my brother’s company, then a local builder of vacation homes, only moving into construction management after I finished my degree. As I worked in construction management, again moving upward from project to project, I found that my experience in the trades was a huge asset, because it gave me a perspective that few of my coworkers had. As I completed each project in my construction management career, I gained confidence in my skills at inspiring and collaborating with the team around me, and by the time I was managing my own projects, my teams were the envy of the organization – tight knit groups who knew how to communicate, delegate and most importantly, they knew how to succeed. It brought me a great deal of satisfaction, building that kind of work environment, but at the same time, it was frustrating, looking at the company around me and seeing all the work that needed to be done. The decision makers at my place of work were well aware of the success of my projects, and wanted me to help them build that kind of morale and productivity on a bigger scale, and asked me to collaborate on several initiatives, but in the end, all my ideas got bogged down in inefficient corporate processes, and as ‘just a PM,’ I just didn’t have the pull to get any significant changes made. So I decided to take my show on the road, and help other companies to build the kind of success that I’d only had the power to effect on a small scale as a PM. Now that I am consulting, I find that both tracks of professional experience, trades and management, give me a unique insight that lets me see the companies I help from a variety of angles and communicate freely with team members at all levels of the organization. Being able to spend my days helping people to make their workplace a place where everyone wants to spend their time is something that brings me a great deal of satisfaction, and I feel that I have a unique perspective at bringing unconventional solutions to the table. The first, obvious question that prospective clients ask me is “Okay, so you’re a consultant. What does that mean? What kind of problems do you solve?”I like to think that there are few problems or issues that I don’t solve. In fact, if I had to boil my service down to its essence, problem solving is what I provide. From clear, concise training on practical issues, review of accounting systems, IT troubleshooting and management, HR issues, morale, team building, company culture, and even smoothing interpersonal conflicts and communications issues in the workplace, I try to offer help solving any problem I can see. While I offer a lot of the usual, expected services, in many ways, the most satisfying aspects of my work often come in solving unexpected, previously unrecognized problems. For example, I recently interviewed a promising, motivated young woman who was struggling with morale and her team, and over the course of our meeting, it became clear that while her comprehension and ability to speak English was quite good, her accent was proving to be a barrier with her coworkers. I did some research and found an accent coach with a proven track record in helping people in just such straits. When I reported back to the company owner, I recommended that the company pay for the employee’s coaching, and give her time to devote to her studies during a small portion of the work day. Not only will this send a message of warmth and support to a young employee who has been feeling isolated and not a part of her team, it will help to improve her productivity and boost morale all around. It’s a win-win situation that the employer is more than pleased to implement, but the solution hadn’t occurred to anyone involved. So while I provide many services, in many spheres of business, I think my most unique and perhaps my most valuable service is that of finding problems that have not yet been defined, and offering solutions that lift everyone in the equation. Another question that I hear from many prospective clients is “What makes you unique – how are you different from other consultants?”One of the factors that makes me unique, in my experience of the consulting field, is my experience in the trades. I recently had a conversation with an attorney in the construction field, and I suggested to her that she spend a certain amount of time every month, shadowing employees in the trades. There is a perspective you gain, when you have actually spent time ‘in the trenches’ so to speak that business school can never impart. Another difference, based on conversations with clients who have had previous unsuccessful experiences with consultants in the past, is my transparency in process. At every stage of the process, I build estimates of what any given service will cost, and give the client the opportunity to decide precisely what services they want to purchase, and then if that hourly total ever gets close to the estimate without a successful resolution, I go to the client and we talk about why we’re looking at a higher price and whether they want to proceed. By giving clients a high level of control over what they spend, and plenty of notice about what numbers they’ll be seeing on my invoice, we avoid that sense of ‘sticker shock’ that can be so common in the consulting business. The next question I hear most often, is “What kinds of companies do you work with? How do I know if my company can benefit from your services?”The first and foremost thing that a company should consider is that a company who is ready for my services is a company who is ready to put in the requisite work to effect change. Change, even very good and necessary change, is not comfortable, and it’s not easy. Companies who are looking for a quick fix, for that ‘one cool trick’ that so many web ads promise, who are not ready to roll up their sleeves and work to build something better and stronger are not ready for the coaching I provide. Hearing a laundry list of all of the weaknesses of the organization that you have worked hard to build is not easy, and looking ahead at the effort and the sheer labor of the job before you can be daunting. Luckily, the second truth of hiring my services is the fact that my companies are never alone in this process. While I fully expect them to carry out the work of rebuilding, I also am with them every step of the way, offering solutions, options, ways to streamline the process of change, and a certain positivity that can be worth a great deal during times of hard work. I find that often, it isn’t so much the amount of work to be done that deters people, it’s the sense of not really knowing what to do, or how to proceed, and that’s something I can help with. Finally, companies considering my services should know that when you invest in my services, when you invest in me, you can expect me to invest in you. One of my training sessions talks about finding out why your employees come to work every day. The first (mistaken) answer that everyone offers is that people come to work for the paycheck – that they show up for the money. My response to that is that there are a lot of ways that most people could make a dollar – but day after day, they choose to get up and bring their talents to your organization. Why? Finding that answer is the heart of building a workplace that is populated with an interconnected team of empowered individuals, rather than an assembly of widget-makers. That same principle applies to you, and it applies to me. There’s a reason why we do what we do, day in and day out. Sure, I need to pay my bills, but that’s not why I do what I do. The reason I am in this business is because I am invested, in every single client who comes to me, whether it’s for a full scale overhaul or to resolve a specific acute issue. I find the motivation to get up every morning knowing that I’m going to meet with someone who was stressed, overwhelmed and ready to give up last month, but today, is relaxed, confident and breathing easy, thanks to my input, or I’m going to hear from someone who called me in a panic last week with a heated dispute, and is now back on track, mending the work relationship with that contact. Your victories, whether minor or game-changing are my motivation, and you can count on me to help you win them. “Okay, let’s say I’m ready for change. What, exactly, is it that you do?”Whether a company is a small operation with only a few employees or a big corporation with sophisticated HR needs, I have services to offer. Whether you have serious, functional issues and need a heavy duty overhaul or just need a light tune-up, I can offer the level of solutions that you need. Whether you are local and in need of extensive on-site intervention, or whether you are located on the other side of the country, and better served by webinars or online training sessions using systems like Mindflash, I have the interpersonal and technological savvy for the job. The most important factor is that you are ready for both the effort and the discomfort of change. Again, I pride myself on offering a vast array of services and coaching. However, to simplify it for the purposes of this question, we could look at my website, where I organize my services onto three separate pages: Full Scale Business Consulting, Training and Dispute Resolution. The lists of services for each heading are actually fairly long, so I’ll spare you listing them here, though you could get a more detailed view by checking out www.arcadeconsultants.com and looking under those headings. However, Full Scale Business Consulting is just what it sounds like. I perform a complete analysis of a business on a variety of levels from nuts and bolts aspects like accounting and IT to business practices like Mission Vision Values, safety policies, and marketing, through human resources concerns like morale, organization charts, social media and a good deal more. I prepare a report that outlines all of these aspects and then the decision makers and I develop a plan for moving forward that includes coaching at every stage of the process. Under the Training heading, I offer a variety of different training modules, from understanding Contracts and Change Orders, through using various software solutions and conceptual topics like communication, company culture, learning styles and time management. Finally, under Dispute Resolution, I offer services in helping with resolving various matters, in either a mediation role, or as a negotiator – anything from something as simple as writing a letter to as in depth as providing comprehensive substantiations and risk analysis workups. When companies find themselves in a situation where they just want to get out from under a conflict that is becoming a liability, I help them resolve the matter as quickly and painlessly as possible. What else do you want to know?Now you know who I am, what I do and why. Wondering what I could do to help your organization? Want to know more about my process or services? Give me a call at 425-269-4886 for a free initial consultation today! Editors Note:I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0117 And It Will Be About When Your Accountant Says You Don't Need Job Costing It's Because They Don't Need It To Fill Out The Annual Tax Return! Contractors like you regularly ask us if there is a way to have Job Costing Reports and have their annual tax return prepared and the answer is Yes! 99.99% of the time we find out the same company that is providing the contractor bookkeeping services is providing the annual tax preparation services. As you may or may not know there is a whole lot more money in preparing tax returns than there is in providing contractor bookkeeping services. So if an accounting firm provides both contractor bookkeeping services and annual income tax service or if they have a related company which they STRONGLY RECOMMEND then you use to prepare your income tax return then you can bet your bottom dollar they will do everything possible in QuickBooks or Xero to make filling out the annual tax return as quick and painless as possible no matter what it costs you in the long run. It is a less than desirable trait of human nature to want to make the most money possible in the short run even if it costs you money and lost profits or paying too much income tax. This shortsighted thinking is everywhere, not just tax preparers in the end it costs everyone a lot of long term wealth and happiness.   The financial health and well-being of your construction contracting company depends on you believing the days when one person did it all is over: The builder who did everything from clear the lot, to building the house, installing the plumbing, wiring, HVAC and landscaping the yard The doctor who made house calls anytime day or night regardless of how tired he or she was; during holidays and bad weather The accountant who did all the bookkeeping and prepared the annual tax return is long gone and has been for a long time When Your Construction Accounting Is Done To Treat The Tax Preparer As KING!You Have Diving Board Support For Construction Company We Offer A Team Of Bookkeepers And Construction Accountants To Support Your Construction Accounting Needs And Treat You As The King! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0116 And It Will Be About Live Plan For Contractors Plan Your Work Then Work Your Plan - Who Has Time To Plan? Easy To Say And Harder Than Jumping The Grand Canyon In Two Leaps! Do you know of a contracting company that runs smoother than yours? They have the same challenges you do: Getting enough qualified leads to bid on and winning enough of them at a price that is profitable Finding employees who will arrive on time, do the work and not steal time, materials or customer Having enough cash to pay the bills before the end of the month and cash left over for the owner Until now putting together a formal Business Plan more painful than a dentist working on you without any painkiller. We found the answer. A simple financial forecasting tool that links to your Contractors QuickBooks file and does most of the work for you and it's...PAINLESS! Business Planning The Old Way: We have developed hundreds of Business Plans. Some for our internal use for our contracting companies when we had them and for our contractor clients as well as clients in other industries outside of construction. Every Business Plan required an enormous amount of time, money, blood, sweat, tears, foul language, banging of fists on table, aspirin and gallons of coffee and several painstaking hours of research to find comparative data of similar companies in the geographic area of the client company. The good news is all the Business Plans we finished and the contractors used ended up generating some very healthy cash flows and profits. Most of the Business Plan projects were abandoned because the contractor wanted instant results and would not work with the Law of Growth. Every successful farmer lives by the Law of Growth: Plant Seeds / Nurture Them / Harvest Crops / Sell Them. When you think about it, most farmers work all year and may only see a few paydays; yet each one is like winning the lottery. We started writing Business Plans on pads of paper with pencils in the 1970's, then in the 1980's started using computers, in 2004 we finally found a Business Planning software that actually worked as promised called Business Plan Pro by Palo Alto Software headquartered in Eugene Oregon. Business Planning The Fast Easy Way: We stuck with Business Plan Pro until we discovered something even better called LivePlan, which is also offered by Palo Alto Software as a replacement for the old Business Plan Pro. I met the requirements, attended the required classes and recently passed their rigorous exam to become an Expert Advisor Live Plan Certified. What This Means For Your Contracting Company: LivePlan auto-magically links to QuickBooks and updates the data several times a day. The key is having accurate data in QuickBooks and since we only offer this service to our Outsoruced QuickBooks Contractor Clients you know your QuickBooks is up-to-date and ready to go! If you are not a client yet please contact Sharie 206-361-3950 or email [email protected] Once we setup your LivePlan then all you do is login and review your reports, run "What If Scenarios", generate cash flow forecasts, Key Performance Indicator Reports and more. Good News And Bad News: If you or someone you know is a construction contractor, handyman, remodel contractor, sub-contractor or specialty contractor and located in the USA including Alaska and Hawaii then we can help because we have an team of professionals and a Contractors Bookkeeping System supporting you. If you or someone you know has any other type of company please contact the good people at LivePlan and tell them I recommended you. You don't have to engage our services, LivePlan is available to everyone. The only thing we bring to the table is the foundation of QuickBooks Key Performance Indicator Reports designed for construction companies and QuickBooks Setup designed specifically for contractors like you! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0115 And It Will Be About Why Emailing Your Contractors QuickBooks File Invites Identity Theft Postcards Are More Secure Than Email! The reason is because fewer people have access to postcards send in the mail than have access to your email. A lot of contractors are told to email QuickBooks contractor data files to their tax preparer, bookkeeper or any number of places and continually put themselves at tremendous risk of identity theft or worse. In cases where they have stored data about their present and past clients they put their clients at risk too which if it is traced back to you could mean bankruptcy or worse. Any network carrier can see the contents of your email. Most of them never pay attention or track the content; however, there is always the chance that someone with proper clearance and software can intercept a copy of your QuickBooks contractor data file. We have warned against this practice for several years and in most cases nobody pays any attention until it is too late. Here are the top ten ways emailing your QuickBooks contractor file can hurt you: You are using a "Free" email provider with little or no security.Your email program has been compromised and you don't even know it. Which could mean every bit of email you send or receive is being copied and sent to identity thieves. Your tax preparer, bookkeeper or whomever you sent it to has little or no email security and everything inside their email program is being copied and sent to identity thieves. Any network carrier can see the contents of your email. Most of them never pay attention or track the content. However, there is always the chance that someone with proper clearance and software can intercept a copy of your QuickBooks contractor data file and mine the data or sell it to the highest bidder. Your bookkeeper can intercept your QuickBooks contractor data file that you emailed, make a copy and sell it or give it to your competitors. If you think this never happens ask yourself how many side-jobs your construction employees have done using your tools, your equipment and your material. Your bookkeeper emails a copy of your QuickBooks contractor data file to their personal email and sells it or gives it to your competitors. You password protect your QuickBooks contractor file before emailing it simply puts a red flag on it which tells thieves there is some extremely valuable information here. There are hundreds of websites selling QuickBooks password breaker software tools. The email address you were given was bogus and you did not realize it until it was too late. You mistyped the email address into your email program and sent your QuickBooks for contractors data file who knows where. Your tax preparer or bookkeeper mistyped the email address into their email program and sent your QuickBooks for contractors data file who knows where. There are a lot more issues related to the perils and pitfalls of emailing your QuickBooks for contractors file than I have listed here.Secure File Transfer System Is The AnswerThe problem is that it costs money which is why most accountants don't use it because it is cheaper for them to put you at risk than for them to spend money. A secure file transfer system encrypts your QuickBooks for contractors file before it leaves your computer and then stores it on secure servers. Your QuickBooks contractor file waits patiently until the person you intend to receive it puts in their user name and password and downloads the encrypted QuickBooks contractor file. The secure file transfer system automatically converts it back into a useable QuickBooks for contractors file once it is safely at the new destination.This service works will all QuickBooks files, Word documents, Excel files and just about anything that can be uploaded. There are a number of companies offering this type of service and in most cases the "Free" ones are to be avoided as they could be worse than sending your QuickBooks contractors file by email. Premium services are the ones that cater to accounting firms and in addition to secure file transfer they will scan the QuickBooks contractor and all other files for viruses before uploading them which offers further protection. We use a firm that specializes in working directly with accountants and have been a client since the mid 1990's and have enjoyed excellent service and no problems. To learn more go to http://www.fasteasyaccounting.com/cp I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0114 And Today We Have A Guest On The Show, Patrick Ingram, Construction Contractor Marketing Specialist Patrick Ingram is an experienced contractor and a highly skilled marketing specialist who truly understands the challenges you face as a construction contractor in developing and executing a marketing plan for your construction company in this highly competitive environment. The Following Is An Outline From Patrick Ingram's Guest Appearance On The Contractors Success M.A.P. Podcast which you can listen to below. It is on iTunes, Stitcher Radio, Pocket Casts and all popular podcast directories.-----------------------------------------------------------------Editor’s Note: I have known Patrick Ingram for many years, I trust him and find him to be very knowledgeable and capable on the subject construction and mentoring emerging contractors as well as helping contractors who are facing current challenges to turn around their construction companies and put them back on the road to growth an profits. I Highly Recommend all contractors spend some time on his website www.constructionaccountingandconsulting.biz and get to know him/her. He/she is a valuable resource to all contractors, not just remodel contractors. Please be sure to let him/her know Randal DeHart, The Contractors Accountant, recommended you.----------------------------------------------------------------- Hello Patrick, Please Start By Telling Us A Little Bit About YourselfI have forty plus years experience in construction contracting from preparing the start up plan, to raising capital, to writing business policies for: safety, operations, hiring and training personnel, to finally selling the company. Businesses included: electrical contracting, solar contracting, and general contracting. Industries served were commercial tenant improvement (strip malls and high rise office towers) and residential remodel (multifamily, condos, and single family).My specific duties included managing companies; create and execute marketing plans; bidder design/estimating of construction costs; cost accounting and financial analysisRetired Corps of Engineer officer from the US Army after 20 years active and reserve service.Currently own and manage a Residential Property management company and a Construction Consulting and Education CompanyPlease Tell Us About Your Background And How Your Came To Be Where You Are NowI was a third generation electrical contractor. I started working for my father as an electrical apprentice on new homes when I was 14 years old. Through high school I worked part-time as an electrical apprentice.I then went on to active duty in the military. When I returned home I re-joined the family business and went to college at the same time studying business management and marketing. I also continued on as a reserve member of the Army Corps of Engineers eventually retiring after 20 years.Eventually I left the family business and branched out on my own and formed various electrical specialty companies to meet the market demand (fire alarm, security, data/voice cabling, and commercial wiring). I saw the upcoming opportunity in solar so I formed Solar Builders inc. and marketed residential home design and the different solar heating systems until the market changed.I then went into commercial tenant improvement as a general contractor. During this time I formed a partnership with another successful contractor friend of mine and we took over an existing electrical contracting firm and grew it to over 1.5 million in sales. Again the market changed in 1992 so we decided to form separate electrical contracting companies and decided to joint venture when appropriate to compete for larger jobs.This new company was organized to compete in electrical commercial tenant improvement and residential remodel and continued doing this until I sold it in 2011. Since then I have formed and continue to manage a residential property management company and a business consulting firm working with construction contractors.What Are Some Differences Between You And Your Competitors?We recognize the time constraints and tight budgets contractors face we were contractors. This is why our consulting business is organized to get them quick results. We believe they want skilled advisers just like themselves who can actually deliver what they say they can do.This is accomplished by bringing years of experience from being general and sub contractors. We bring expertise as former staff members of large contractors and as hands on contractors who have operated successful general and electrical contracting firms. This coupled with ongoing research into current marketing and management trends means our systems have a track record of success.We can say this because our systems have been field tested and are historically proven effective marketing tools that will help you to reach your target markets and close more deals. Finally we are flexible. We offer personal or group coaching using face to face, Skype, email, phone, and an online coaching / education using our E Learning contractor marketing system. Plus we give you the convenience of meeting either in your office or other convenient locations and we will meet at a time that is convenient for youWhat Problem Or Issue Does Your Service Solve?Our experience has been that most contractors need more qualified leads so they can present their contracting services to more buyers. Then they need to determine how to close the sale at a price that is profitable and gives the client what wanted. Our system addresses these critical areas of contractingWhat Three Things Should A Contractor Consider When Hiring Your Services?#1 - Our experience in running different contracting companies in expanding and slowing economies#2 - Our willingness to do the work for you or guide you through the steps so you can carry out your own marketing plan independent of us. We can also be a trusted source you can use as a second opinion.#3 - Our ongoing research into understanding what are the most effective construction marketing techniquesHow can you tell if someone is a good fit for your company?We work with individuals who are willing to embrace the marketing techniques that will grow their company or turnaround it around if they are not meeting their financial goals. They typically are open minded and willing to look at the different options we have to grow the business in line with their marketing budget. What types of advice do you give a contractor?Our first advice is that we want to look at the four step Sales Conversion Equation formula with them. That is: interrupt (identify a problem), engage (promise to educate & find a solution), educate (build the case why we have the solution), and offer (risk reversal or ethical bribe).We show them how we interrupt their target audience with a known problem the customers are experiencing. We then offer the customer hope that there is a solution to the problem by engaging the customer and educating them as to the different possibilities for solving the problem.Finally we teach them how we will make a guaranteed offer to solve the problem. An example might be for a plumber who offers emergency drain cleaning services. The interrupt would be discovering the drain is plugged prior to a family holiday dinner. We would then let them know we have the tools and expertise to quickly correct the problem and the offer is we are willing to come out even if it is a holiday – guaranteed the problem will be solved. How Can Listeners Contact You And Learn More About Your Program?Our services include business management coaching with particular attention to developing the marketing plan and how to execute it. We offer a couple of choices:#1 An online self study Contractor Marketing Academy System that includes our weekly one hour training modules:> Monday is the Business Strategy videos with downloadable and printable workbooks to follow along.> Tuesday is the Coaches Call covering Marketing Strategies using a webinar in which the audio can be downloaded to an MP3 file for use at a later time> Wednesday we offer the Ask the Expert Call for those contractors who need help executing their marketing plans but don’t need one on one guidance> Thursday is the Self Development PDF document covering areas such as time management and goal setting. > While enrolled in the academy the contractor has access to our Quick Start Marketing program which covers areas such as developing your elevator     pitch, business cards, signature block, post card ads, website design, brochures, and guidance on how to write attention grabbing headlines and blogs.#2 We also offer a mix of one on one coaching and the E Learning Contractor Marketing Academy System:> The contractor goes through the Quick Start program and/or the weekly video series and we work with them to develop their specific marketing plan.#3 We can prepare the marketing plan for the contractor so they can continue contracting while we develop the plan and work with them to execute it. Patrick Ingram, President of Construction Accounting and Consulting Phone: 888-410-4950      Fax: 877-337-9272 [email protected] Consulting: www.constructionaccountingandconsulting.biz E Learning: www.marketingforgrowth.net ----------------------------------------------------------------- I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0113 And It Will Be About Do Contractors Need Every QuickBooks Feature? One of the most common complaints we hear from contractors is they feel like they are missing out if they are not using all that QuickBooks has to offer. Most contractors are hard driving Type "A" personalities who are concerned they are paying full price for QuickBooks and only using a fraction of what it can do and it drives them crazy. QuickBooks has over 100 built in reports and those reports can be filtered to display over 1,000,000 combinations. In addition to the staggering number of custom and special reports that can be developed in QuickBooks. The sheer volume of reports in QuickBooks makes it impossible to use all of them. The truth is no contractor uses 100% of the power of QuickBooks. For Example - The simple Profit & Loss Report Can Be Shown Four Different Ways With Little Effort Profit & Loss Report Can Be Shown As Accrual Basis or Cash Basis: Accrual Basis is generally for internal use by the contractor to make decisions about operations and forecasts. Cash Basis is generally for external use for calculating and paying taxes. Wise contractors only pay tax on the money they collected. Editor's Note: We see many QuickBooks for contractor files where the contractor is paying tax on money they have not collected and when we ask why, the most common answer is the tax accountant wants to make sure the contractor pays their fair share of taxes. We agree with half of that statement; contractors need to pay their fair share of taxes but not until they absolutely have too for two reasons: #1 Paying bills early hurts cash flow#2 If someone never pays it can be tricky getting refunds from tax agencies. If Your Profit & Loss Reports Shows Percentages of Income That Is Extremely Useful. The Percentage Of Income Is very Useful For:#1 Comparing changes year over year#2 Comparing your contracting company with your competitors#3 Looking for trends to find ways to improve cash flow and profitability The most successful high profit contractors we deal with every day in our outsourced contractors bookkeeping services who are earning over 20% net profit and paying themselves $100,000+ in annual salary have these things in common: They use less than 5% of the power of QuickBooks. They use less than 1% of the available reports in QuickBooks. They focus on the critical few reports that give them 95% of what they need to take action rather than trying to glean 100% of the information from all of the available reports. There are Five Key Performance Indicator Reports that when looked at every day can double, triple or more your construction company annual profits and cash reserves. This may sound too good to be true and yet it is not. Because it requires discipline, effort, and it is not fun and easy. You can read about them here Five Key Performance Indicators. One final thought, garbage in = garbage out. The main reason most contractors do not and will not ever succeed in business is they do not have accurate financial and job costing reports. I sincerely encourage you to seek the services of a construction accounting service that you trust to setup QuickBooks correctly for your particular contracting company and if it makes sense let them handle all of your day-to-day contractor bookkeeping services. It will be one of the best things to happen to you since the invention of the wheel. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0112 And It Will Be About Why Tax Accountants Are Hazardous Construction Bookkeepers Don't Let Tax Preparers Destroy Your Construction Company ProfitsTax Accountants - Can kill more cash flow and profit in your construction business in less than an hour by preparing your annual tax return using a messed up QuickBooks file than you can make up for with hard work in several months, if not years. This is because saving you money on your tax bill is not what they are paid to do; they are paid to fill out tax returns.This Is Not A Bad Thing - Rather it is a simple fact of business that people and companies do what they are paid to do. Tax Accountants also do not frame second story additions, cantilevered over an embankment in the dead of winter with a strong Northwesterly wind blowing in their face for the same reason; that is not what they are paid to do.The Answer Is - Have your Construction Accountant clean up QuickBooks before giving it to your tax accountant or tax preparer. Read More...All Professional Accountants - Are aware of the relationship between QuickBooks and the Internal Revenue Service, IRS. In most cases your tax preparer and your construction accountant work together as a team to help you only pay the correct amount of taxes. Read More about QuickBooks and the IRS..Tax Accountants - Are good people and have their place; however, not involved with regular accounting, bookkeeping or contractors bookkeeping and accounting.Construction Accountants - Should not be preparing annual tax returns because nobody can serve two masters. Either be a tax accountant and serve the interests of the tax collection agencies or be a construction accountant and serve the interests of contractors.How Many Times Have You - Hired someone with the expectation they knew how construction works and then you found out they did not have a clue about it or your particular type of construction?  It happens all the time and the first thing that crosses your mind cannot be posted on this blog. The next thing you do is take action and fix it!How Many Times Have Accounting Firms - Hired what appeared to be a Professional Bookkeeper only to discover they had all the traits of a Bad Bookkeeper? It happens all too often and action is taken to fix the problem!You Have Mastered Construction - So you knew what to look for and very quickly you knew if someone has the skillsets you need or not.We Have Mastered Construction Accounting - So we know what to look for and very quickly we know if someone has the skillsets we need and we proceed accordingly.You Know What Happens - When you send your best Rough Carpenter that you pay piece work for framing spec tract houses from the ground up in all kinds of weather and working conditions to install some custom made cherry wood cabinets with gold plated pulls and knobs in the home of your best client who happens to live in the wealthiest neighborhood in your town and it is not a pretty sight, is it?Rough Carpenters - Know what they know which is why he will arrive at your best client's home wearing muddy work boots, wearing bib overhauls, smoking a cigarette, un-shaven, with an attitude, and walk across the white plush carpet while carrying a heavy duty fifty foot power cords, a five gallon bucket full of rough carpentry tools including a worm-drive circular saw and a sazall with an 18 tooth blade. He is exactly the person you need to get spec tract houses framed, on time, on budget! Enough said? For more on this see Construction Psychology.Tax Accountants - Operate like Rough Carpenters because they work fast and furious and they are paid piece work. The main difference is they earn the bulk of their income for the year in three and one-half months. This means they do not waste any time going through your receipts to make certain you get all the deductions you are entitled too. The Dirty Little Secret - Is most tax accountants have software that gets the numbers from QuickBooks or whatever system you are using and it puts it directly into the tax form.Which Means - If your QuickBooks Is Setup Properly and all the transactions are input correctly you could save you some serious money on your tax bill because the tax preparation software will find most if not all of the deductions you are entitled too.You Must Understand That Saving You Money - On your tax bill is not what they paid to do; they get paid to fill out as many tax returns as possible is shortest amount of time during the harvest season between January 1 and April 15th.If Your QuickBooks - Is a mess they might recommend a Cheap Bookkeeping Service working out of their home who will put everything into QuickBooks in a way that makes it easy and quick for them to prepare the tax return with little or no regard for saving you money on your tax bill.If They Really Care - About you they will recommend a construction accounting firm like us. We get referrals from professional tax accountants and we refer annual tax preparation work back to them.The Following Is From One Of Our Clients:--------------------------------------------------House Builder Mukilteo, WA"Having paid another accountant machos bucks only to find a wacko bottom line that even I knew wasn't accurate----I was elated after working  with Business Consulting and Accounting.Randal is knowledgeable and friendly  and I find his expertise invaluable.  He has been readily available and  happy to share stories in order to enrich my learning.My books are now in tip-top shape, and I have ultimate confidence in my  bottom line. Too bad I didn't know about their services earlier; I could have  saved myself a lot of grief."  Read More...--------------------------------------------------We Do Not Prepare Annual Tax Returns - For two reasons. Number one, we are focused on maintaining our status as the premier contractors bookkeeping and accounting specialists in the world. Number two we firmly believe in "Trust But Verify" by keeping contractors bookkeeping and accounting separate from tax preparation and having a Board of Advisors watching over each other and your business. Read More..Just So You - Don't think we are being too hard on tax accountants please understand that we have great relationships with a lot of tax accountants. In fact we have tax accountants review our QuickBooks and prepare our business and personal returns for over thirty years and we refer a lot of business to a variety of tax accountants. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0111 And It Will Be About Contractor Bookkeeping Services Lies "We Live In A World Of What Is...Not What Should Be" - Randalism I am going to talk to you about a "Scammer" that could be draining cash and profits out of your construction company. It is the onslaught of "Cheap Bookkeeping Services" with an emphasis on Cheap! Contractor Bookkeeping Services Menu: | Good | Fast | Cheap | You Can Only Choose Two In the beginning, it appears to good to be true almost as if the contractor has found the impossible combination of Good+Fast+Cheap! After a short while, they re-discover the laws of business are still working and they are getting exactly what they paid for! They have engaged a bookkeeping service with data entry clerks trying to be bookkeepers! People who bless their hearts are not even close to being regular bookkeepers, let alone construction bookkeepers, which is completely different from regular bookkeeping as a shovel is from a backhoe! Learn More... The idea that anyone can get something for nothing is only true in fairy tales where "Scammers" live which is what I say when someone is bs’ing me, but I’m being polite ;) Contractors are "Producers" who live in the real world, earn a decent living and build retirement nest eggs and streams of passive income. Over the last few years, I've heard some pretty bold “Scammers” describe how they provide outsourced bookkeeping services for less than anyone else. Here are the three biggest lies: 1."Bookkeeping Services $5.00 And Hour" 2."30 day free trial" 3."We will assign a dedicated bookkeeper to your account" These lies (and all the others out there) are so insidious because the laws of business operate in the real world and you get what you pay for: Lie #1 Accounting skill is a must and nobody with any bookkeeping skill is going to work for $5.00 an hour Entry level bookkeepers with no experience at all can easily earn $10.00 an hour Skilled bookkeepers and accountants much more than $10.00 an hour Skilled construction bookkeepers and accountants are in demand and earn substantially more Lie #2 The 30 day free trial means you invest enormous amounts of time and energy getting your account setup During the free trial you may find the service does not meet your expectations and the hidden charges start to appear After the initial 30 days you may be asked to sign a 1 or 2 year contract, and if you leave early, getting your records back is next to impossible After you are hooked they may assign a lesser skilled "dedicated bookkeeper" than the one who helped in the first 30 days Lie #3 A dedicated bookkeeper is a code word that means Someone with little or no bookkeeping skill working in a boiler room under constant pressure to work fast and take shortcuts Using Journal Entries to enter and reconcile credit card statements in minutes by grouping transactions into categories, say goodbye to Job Costing Cost of Goods Sold are only for material and everything else is put into Expenses with all the overhead, say goodbye to Break-Even Analysis I hate these lies, because they set good solid contractors up to fail. Then we have to spend ages debunking them when contractors come to us with broken business and shattered dreams... That's not what I want for any contractor; and definitely not for you because part of our mission is to help you achieve what you set out to do when you first opened your construction company. Owning and operating a contracting company is not easy; however, if you know what to do, know your numbers and advertise you can become very wealthy and amass a small fortune of money that will work hard to make you more money with passive streams of income.   Outsourced bookkeeping services an online business is definitely easier and cheaper than it ever has been, but that doesn't make it easy, and it doesn't make it free. What we do different... Reliable Contractors Bookkeeping Services For Contractors All Across The U.S.A. Including Alaska And Hawaii These days, contractors are under increased pressure to cut their prices to get enough work. And that means they need to reduce costs. New technologies and new approaches in cloud computing for construction accounting gives forward thinking contractors an amazing ability to get more for less - but in most cases, contractor's heads are still stuck in 1990, thinking they have to do everything themselves. In addition, a lot of in-house bookkeepers are a part of the problem, fighting back hard at the thought of letting any jobs or control goes to someone else. Let’s Review This First, separate in your mind the concept of outsourcing contractor bookkeeping services and jobs because they are not the same thing. For example, suppose you decide to upgrade your contractor bookkeeping software from shoeboxes full of receipts or spreadsheets to a computer based construction accounting software like QuickBooks. You can pay your bookkeeper to spend days or weeks trying to figure out how to setup QuickBooks for your construction company and in the end wonder why you don't have the Financial and Job Costing Reports you need to operate and grow your company, or you can outsource that task to someone who does it hundreds of times a year and add a few hours of tutoring for your in-house bookkeeper. The result will be a QuickBooks file for construction that is designed to work the way you do and has a lot of memorized transactions, customized reports and accounts preset to handle things like: ·QuickBooks Setup For Construction Company ·Sales Tax Returns ·Payroll Processing ·Payroll Tax Returns, 941 and 940 ·Free Stand Alone Invoice For Contractors  ·Standard Invoicing Service ·Work In Progress (WIP) Reporting ·Retention Tracking System ·Insurance Audit Reports ·QuickBooks Reports ·Job Cost Reports ·Five Key Performance Indicator Reports for monitoring your business There Is A Huge Difference Between Construction Accounting And Regular Accounting Construction Accounting is built on a foundation of regular accounting and shares the same basic financial reports for operating and growing a business and preparing annual tax returns and some very rudimentary management decisions. Construction accounting adds many complex layers of reporting mechanisms to show you, the contractor, where your best customers are within psychographic and geographic market segmentation boundaries using the 80/20 rule. The 80/20 Rule Can Make You A Lot Of Money! For example: ·20% of your customers normally generate 80% of your net profit.  ·20% of the goods or services you sell contribute 80% of your revenue ·20% or 2 out of 10 of your staff create 80% of the value for your customers. The frightening consequence of the 80/20 rule is that 8 out of 10 hours we spend at work drive almost no value to the bottom line and the biggest drain is trying to save money doing our own contractor bookkeeping instead of reviewing the Key Performance Indicator (KPI) Reports. Through our contractors bookkeeping services system you can access them 24/7 without opening QuickBooks for Contractors. The most important value good bookkeeping brings to a business is an understanding of where your 20% is hidden.   By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work. This is the great contribution a company receives from good QuickBooks®  data and from using QuickBooks®  the ‘right-way’. This is a short list of the Chart of Accounts commonly used for construction accounting and regular accounting. The list is intentionally short in order to make the point without being completely overwhelming. Construction Account = 233 Vs. Regular Accounting Titles = 115 So we’re not talking about jobs. When I say, “outsource your contractors bookkeeping” I do not mean turn it all over to us or any other contractors bookkeeping service because this is a something that never seems to work out well. No, I’m talking about outsourcing specific bookkeeping services related to data entry, bills, payroll processing and preparing Quarterly Tax Returns. NEVER, EVER let an outsider pay the bills, print checks and authorize payment for payroll or any tax payments. It is crucial your keep control of your money. In fact outsourcing contractors bookkeeping is one of the ways to avoid bookkeeper embezzlement My suggestion is to look at every part of your internal contractor bookkeeping service and ask yourself a simple question: is this a unique and critical part of our construction company and is it something that only we do? If so, it stays in-house, and needs the brightest minds you have working on it. If not, it is a candidate for outsourcing, and you need to look at it more closely. I’m not suggesting “automatically outsource it,” because the decision isn’t that simple. This first question is just the starting point. For example, bank and credit card account reconciliations in QuickBooks are what help maintain the accuracy and integrity of your Financial and Job Costing Reports. If you have two of each you are probably paying someone at least two hours a month to reconcile them. That person might make $15 dollars an hour and by the time you add overhead for labor burden they cost your construction company $25.29 an hour X 2 hours = $50.58 a month just to reconcile the bank and credit card statements. Unless they use Journal Entries to save time and destroy any hope of job costing reports. Fully Burdened Bookkeeper Cost Simply means what it will cost you to hire someone including the company portion of the payroll taxes and all those little costs that only an accountant like me would think about. The example below shows a part-time in-house bookkeeper at $15.00 an hour working 10 hours a week. Notice this poor soul does not have any benefits at all and they still cost the company $25.29 per hour! These costs do not include heavy training for your bookkeeper; read The Nine Steps for more The two happiest days in a construction company owner's life is the day he hires a bookkeeper and the day he outsources his bookkeeping. Generally speaking we know from our research a typical contractor with 2-4 employees and annual sales of $500,000 will need at least a part-time bookkeeper for 10 hours a week and they will try to get away with only paying them $15.00 an hour plus overhead and it will cost their construction company approximately $13,000 - $15,000 a year and most of the time they will still overpay their taxes, have bad or non-existent financial and Job Costing Reports. But you’d still need an in-house bookkeeper, right? Well… perhaps not. See, outsourcing is often interesting in that, while you still need administrative resources, they can be less skilled. They don’t need to have any contractors bookkeeping service skills to pick up the mail, make bank deposits, print checks, which can be done on your local computer even with QuickBooks Desktop version in the cloud. It’s likely a part-time office assistant could do that in addition to other duties and errands. Point is, it is worth asking the question what are the things you and your employees should be dealing with that nobody else can do for you. Everything else - contractors bookkeeping services, cell phones, power, land lines for office phones, coffee service, janitorial services should be outsourced if possible, and if it makes sense. Not because it’s cheaper, although outsourcing often works out that way in a careful comparison. No, you do it because it removes distractions, so that everyone in your construction company can focus on what’s important to acquiring customers and satisfying their needs which puts money in your pocket. It’s an interesting approach. The only reason more contractors haven’t started down this road is because most construction companies are poorly managed, which means they all kind of level out against each other. But, many contractors are figuring it out and wishing they had started years ago. ------------------------------------------ General Contractor, Lynnwood Washington Review: "The beginning of 2008 my company attempted to save money by doing our own accounting, but instead paperwork started piling up, wasn't organized and wasn't getting done. I failed to realize the amount of time and effort that went into accounting, especially not being an accountant by trade. I didn't want to have my wife take on the burden being a stay-at-home home and already having her hands full with 2 kids so I made the decision to go back with Randal and Sharie. I am a new, young business owner and have sought much help from them and have always gotten great advice and great help. They know the trade, and they know what I'm going through on a daily basis. I have not regretted my decision one bit. They have helped me to get back on track and get my business running smooth again. I am grateful for the services they offer. I would recommend their services to any General Contractor." I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0110 And It Will Be About Passing Your Construction Company To Next Generation There will come a time when you will pass your construction company on to the next generation, sell it or simply close it down. If this is something, you are considering in the near future or perhaps several years down the road it is never too early to begin planning for it. Prior Planning Prevents Poor Performance Planning hurts! Because it involves "thinking" which is, some of the hardest work you will ever do and it is the most profitable in the long run. Just knowing the answers or at least having a strategy for finding answers can mean the difference between comfortable lifestyle and the all too common "Work-Till-You-Die" treadmill that far too many contractors are on. Start by asking yourself two simple questions: #1 If your construction company were for sale, would you buy it? #2 How much would you be willing to pay for it?  Common Contractor Paradigms Of Mom And Dad Contractors They are Dog And Pickup Truck or Salt Of The Earth Contractors and I love them all! Construction Company frozen in time doing business the same way since they opened the doors Mom is doing the books and she is so sick of it she is ready to divorce Dad and start a new life Worse yet there is an employee who is a Bad Bookkeeper, Incompetent Bookkeeper or and Embezzling Bookkeeper Sons and Daughters grew up working in the family construction company and not allowed to initiate new ideas The Paradigm that Sons and Daughters need to do everything themselves; just like they did. The "Joe Hardway Method" Resistance to having websites, cloud services, online data storage and retrieval, old worn out office equipment When Mom and Dad do let go they want to take all of the money they have always taken plus more so they can travel Please understand I love contractors because I have been blessed to grow up with a wonderful family that earned our daily bread as contractors. My Step-Father was one of the greatest men I have ever known was a "Salt Of The Earth Contractor". I did not really appreciate him until I was married, living on my own. Once I discovered all of the things I took for granted, like food, clothing and shelter my eyes were opened. Thank goodness, he helped us make a smooth transition despite my youthful know-it-all arrogance, which quickly disappeared.  If you are considering passing your Construction Company to your heirs in the near future or perhaps several years down the road, it is never too early to begin planning for it. Here are three steps to get you started: Step #1 - Your Story Get a legal size pad of paper or open a word processor on your computer and write your story from the perspective of the future. Describe why you opened your contracting company, when it opened and describe some of the projects, good and bad you worked on. Tell what happened and which ones you had the most fun doing, most likely those are the ones you made the most money doing, and the ones that gave you the most trouble. Step #2 - Lessons Learned Write down what you would do different if you could start all over again. Which customers and projects would you avoid and which ones would you pursue? And list reasons why for each type? Step #3 - Start Over Remodel your current contracting company to be the one you would start if you could start over again. This may sound strange but it works. Just because you have done the same thing over does not mean you can never change. Change can be good! McDonalds started out to be a way for Ray Kroc to buy land and generate enough money to pay the mortgages and taxes. Now McDonalds has massive land holdings. Many people ended up doing something different from what they started after having discovered new and better paths and you can do it too!  Step #4 - Board Of Advisors A Board of Advisors is NOT a Board of Directors. These are our Five Key People whom you are likely paying for their services, one way or another and not getting your money's worth. They are (1) Your Commercial Banker, (2) Your Construction Accountant, (3) Your Tax Preparer, (4) Your Commercial Attorney and (5) Your Financial Planner. They are less expensive in the long run than you can imagine and even a one person Handyman company can afford them. Learn more here... Word To The Wise: An old Maxim I like is "Early To Bed, Early To Rise, Know Your Numbers And Advertise". We have something similar Contractors Success M.A.P. in podcasts and webpages that I trust you will gain value from reading and listening too them. If you have questions or are interested in some guidance, please email [email protected] or call her 206-361-3950 I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0109 And It Will Be About The Truth Of Owning A Construction Company  Contractors Are Our Heroes! The rough and tumble world of construction company ownership is not for the weak or the timid. It is an arena where the price of admission is a lot of blood, sweat, tears, and long nights and lost sleep, with peaks of enthusiasm and depths of despair. It can feel like riding a roller coaster operated by a mad man trying to convince you to get off, get out and go do something more relaxing like teaching a pig to sing! If you work it right you can end up with a construction company that is like a money tree that can take care of you and your family for a lifetime and leave a legacy for your heirs. To get to the truth about your construction company you must go on a journey. It is four levels deep and like most successes in life it is simple but not easy.  The Four Levels Number One - What contractors want to hear Number Two - What contractors want to believe Number Three - Everything else Number Four - Truth A Story To Illustrate The Four Levels What Contractors Want To Hear - One evening after work a group of contractors met at the Contractor Business Round Table which is the neighborhood tavern with a round table, pitcher of beer and four contractors. They talked about how tough it is to get profitable jobs no matter what the economy is like. When times are good it is hard to find employees, when times are tough the phone doesn't ring. Everyone agreed there was nothing anyone could do about it. What Contractors Want To Believe - A short while later they talked about making money and agreed that really big contractors make most of the money and little contractors were doomed to struggle. Everything Else - One of the contractors suggested maybe they could ask one of the larger more profitable contractors and find out what they did that made the difference. This of course made the other contractors a bit uncomfortable. Then it happened and they all heard and felt the dreaded Snap-Crackle-Pop! The contractor who suggested asking for help experienced a paradigm shift and broke through to the other side. This contractor began leveling up! Suddenly they all remembered what that The Contractors Accountant, Randal DeHart, had said about leveling up. "As you develop your Business Strategy your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different." Truth - Is whatever you believe and you will look for evidence to support your truth. Part of my truth comes from some of the writings of Og Mandino: The Salesman’s Prayer Oh creator of all things help me for this day I go into the world naked and alone, and without your hand to guide me I will wander far from the path which leads to success and happiness. I ask not for garments or gold or even opportunities equal to my ability; instead guide me that I may acquire ability equal to my opportunities. You have taught the lion and eagle to hunt and prosper with teeth and claw. Teach me how to hunt with words and prosper with love so that I may be a lion among men and an eagle in the marketplace. Help me to remain humble through obstacles and failures yet hide not from mine eyes the prize that will come with victory. Assign me tasks to which other have failed, yet guide me to pluck the seeds of success from their failures. Confront me with fears that will temper my Spirit yet endow me with courage to laugh at my misgivings. Spare me sufficient days to reach my goals; yet help me to live this day as though it be my last. Guide me in my words that they may bear fruit; yet silence me from gossip that none be maligned. Discipline me in the habit of trying and trying again yet show me the way to make use of the Law of Averages. Favor me with alertness to recognize opportunity, yet endow me with patience which will concentrate my strength. Bathe me in good habits that the bad ones may drown; yet grant me compassion for weakness in others. Suffer me to know that all things shall pass; yet help me to count my blessings of today. Expose me to hate so it not be a stranger; yet fill my cup with love to turn strangers into friends. But all these things be only if thy will; I am a small and lonely grape clutching the vine, yet thou hast made me different from all others. Verily there must be a special place for me. Guide me, help me, show me the way to become all you planned for me when my seed was planted and selected by you to sprout in the vineyard of the world. Help this humble salesman, guide me God. ------------------------------------------------------------ If you suspect that I care deeply about all Four Types of Contractors and their families you are right! Another one of my truths is contractors deserve to be wealthy because they bring value to other people's lives! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0108 And It Will Be About Working With Consultants To Help Your Contracting Company Many business consultants contact us after they start working with Handymen, Contractors and Construction Company because they are frustrated with contractors who are having trouble earning a profit. The primary root cause is most contractors do not understand their overhead costs and breakeven. In turn, contractors are frustrated with Bean Counters and Desk Jockeys who do not understand how construction works. Perhaps this article will shed some light that will help consultants and contractors understand each other and offer some tips that will benefit everyone. Business consultants live in a world where successful companies have a Business Strategy of M.A.P. or Marketing First, Accounting Second, Production Third and that is completely opposite of what most contractors do. Contractors, bless their hearts, we love them all! Most contractors operate their companies as if they were job superintendents not business owners. Which means they subscribe to P.A.M. Production First, Accounting Second (and only after the year is over and it is time to file tax return) and Marketing (rarely if at all since they believe the best advertising in referrals and word-of-mouth) Let's Step Into A Contractor's Shoes And Understand How They Got To Where They Are  Bob The Contractor, (not his real name), has a small company they provides a decent middle income living for his family of four but not much hope of building a business that will run without him constantly being involved and running himself ragged. He is a skilled technician who learned his trade in an apprenticeship program, working for another contractor and by his own experiences.  Over the years, Bob developed a Paradigm, Mindset, Understanding, Perception or whatever word makes the most sense to you about how construction companies operate. Some of the building blocks of his Paradigm were from personal experience and the rest came from several meetings of the Business Round Table; the little round table in the local bar and grill with four chairs, a pitcher of beer, four glasses and three of his contractor friends. All of them agree that production, getting work done is the most important part of the business because that is what they always did when they worked for someone else and that is what they expect of their employees. All learning is comes from connecting new things to things we already know and Bob has settled into a rut; which is a grave with gradual slopes on each end. He only knows what he knows and does not know what he does not know. Learning to own and operate a successful construction company is very similar to learning a construction trade. There are only two ways to do it. Self-taught and learning from someone who is already mastered the skill. Self-taught means making many mistakes and it takes a lifetime before you get good at it, and then it is too late. Learning from a master is much faster and in the end allows the student the opportunity to go beyond the teachings of the master and have an even greater success. Bob has this nagging feeling he is missing something and so he contacts a Business Consultant... Let's Step Into A Business Consultant's Shoes And Understand How They Got To Where They Are  John The Business Consultant, (not his real name), got decent grades in school and graduated college with a Business Management Degree. John has a lot of energy and loves to solve problems and make the world a better place. After graduation John went to work for a Mega Company which is a large multi-national company expecting to be on the fast track to promotions, bonuses, fast cars and long vacations in the sun. It did not take long for John to realize that if he put his college degree in one hand and five dollars in the other he could buy a cup of coffee and have something to read and admire. The problem with large multi-national companies like Mega Company is they rarely hire talent; rather they hire fresh college graduates, work them hard and fast until they realize they're on an endless treadmill deep inside a downtown high-rise building also known as a "Vertical Salt-Mine" with fluorescent lighting and little or no possibility for advancement. Somewhere between 5-10 years, the good ones wake up and ask themselves "Is there someplace better I could be?" "Perhaps I should leave Mega Company and start my own consulting firm and fulfill my life's ambition!" They put together a Business Plan using a form of M.A.P. or Marketing First, Accounting Second, Production Third and get to work. Very quickly, they acquire a few clients and just as quickly, they lose them because they work 9AM to 5PM not 5AM to 9PM like their business owner clients.  They are "Idea People" full of good ideas and projects and tons of new Strategic Planning Initiatives they expect their customers and clients to embrace and implement by dropping everything else they are doing and getting to work on this new life-changing path.  Example E-Mail Frustrated Business Consultants Send Us The following email was changed to protect the identity of the sender and is typical of the ones we get: ---------------------------------------------------------------------------------------------- Dear Sharie, I am consulting for a local contractor and I'm trying my best to get him to hire your firm for his bookkeeping and accounting needs. He is running things by the seat of his pants and writing things on scraps of paper that ends up on the dashboard of his truck, under the seat, behind the seat, on the floor, in the toolbox and stuffed into the overhead sun-visor. I understand this is how contractors do things, but I am trying to help him get organized and it's difficult. I have helped several businesses, and he thinks he has a "ballpark" number of his construction company monthly overhead. I need to know exactly what his overhead expenses are, so I can help him increase cash inflow and profits. He needs to know if he is pricing jobs in such a way that he will remain profitable and grow his business so he can have a better lifestyle and retire someday. You offer a One Hour No Charge Consultation For Contractors would you extend that to me and help me understand how to help him? Sincerely,  John ---------------------------------------------------------------------------------------------- Sharie did spend just over an hour consulting with this Business Consultant and he gained a tremendous amount of insights and as I understand it the Business Consultant and his contractor client are still working together and we are providing some much needed outsourced contractor bookkeeping services.  One Answer Is For Business Consultant's Spend Two Months Working For A Contractor At this point, you either agree with me wholeheartedly or believe I am a crazy nutter or just looking to get free labor for contractors. Your perception or your Paradigm is reality so whatever you believe is true.  I was blessed with having grown up in a construction family and have spent most of my adult life in and around contractors and construction. Learn more... I have started construction companies, made a lot of mistakes, made a lot of money, spent many years acquiring formal education and certifications, (I have more degrees than a thermometer) so I have a foot in both camps as a Contractor and Business Consultant. A Business Consultant who will invest two months working side by side with a contractor will, in my opinion, gain such tremendous insights, knowledge and humility that will be more valuable than spending 100 years trying to figure out contractors from the outside looking in. I trust you will find value in this podcast and please understand it comes from the heart of someone who really loves contractors and has a deep commitment to helping as many as I can. The same goes for my business partner, best friend and spouse of over 40 years, Sharie. Moreover, everyone on staff here at Fast Easy Accounting goes the extra mile to do everything we can to help and support all contractors. Our commitment stays the same to all contractors regardless of whether or not you ever hire our services because we are all in this world together and cooperation will do a lot more good than competition. "The Rising Tide Raises All Ships" which means when contractors do well everyone benefits.  I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0107 And It Will Be About Contractors Who Babysit Their Bookkeeping Department Did You Hire A Bookkeeper For Your Construction Company And Now You Feel Like You Are Running An Adult Day Care Center? Is efficient bookkeeping difficult to achieve? Is your construction company under utilizing software? Do you have lack of confidence in your QuickBooks financial and Job Costing Reports?  Are you babysitting a bookkeeping dept that is supposed to be saving you time and money, not causing you to multitask instead of focusing on things that make you money? Are you a $100 an hour producer being slowed down by a $15 hour bookkeeper who has to be told what to do over, and over and over? When construction is booming it is hard to find a good bookkeeper who knows what to do and will do it and next to impossible to find someone is skilled in construction accounting because it is 10X harder than regular bookkeeping. Anyone can be a bookkeeper if QuickBooks setup is done correctly for construction. 95% of regular bookkeeping is simple; only 5% is complex and can cause your bookkeeper to panic. If a regular bookkeeper did QuickBooks setup, untrained in the nuances of construction accounting. Or if QuickBooks setup was done using templates built into QuickBooks, or put together by a regular bookkeeper doing it the way they were taught in school; then your construction company is doomed to die a slow and painful death because you will never have the Job Costing Reports that can show you exactly where you are making or losing money. I know those are harsh words and I apologize for them; however, if I can keep one more contractor in business, regardless of whether or not they ever hire our services it will have been worth it. You could hire a Certified Public Accountant (C.P.A.) to be your in house contractor bookkeeping services provider however that could create more problems than it solves. Some C.P.A. firms make a lot of money turning in contractors to the IRS at this website Tax Whistleblowers. We may have an answer that could help you: If you insist on having an in house bookkeeper even if you are the bookkeeper invest some serious time and money acquiring the tools and equipment to do the job right. I have outlined the first two steps to helping you achieve that goal. These are two of the steps in our extensive bookkeeping services system that we do in our contractors bookkeeping services office here in Lynnwood Washington where we serve the outsourced bookkeeping services needs of many contractors and construction company's just like yours for contractors all across the USA including Alaska and Hawaii. Step #01 Dr. W. Edward Deming Read and get a feel for Dr. W. Edward Deming's 14 Points. He was focused mostly on manufacturing however, we have successfully implemented several of his ideas into our own construction companies in the past and we teach proacitive contractors like you how to implement some of them in your contracting company today.  The 14 points seem at first sight to be a rag-bag of radical ideas, but the key to understanding a number of them lies in Deming's thoughts about variation. Variation was seen by Deming as the disease that threatened US manufacturing. The more variation - in the length of parts supposed to be uniform, in delivery times, in prices, in work practices - the more waste, he reasoned.  From this premise, he set out his 14 points for management, which is paraphrased here: 01. Create constancy of purpose towards improvement Replace short-term reaction with long-term planning.  02. Adopt the new philosophy The implication is that management should actually adopt his philosophy, rather than merely expect the workforce to do so.  03. Cease dependence on inspection If variation is reduced, there is no need to inspect manufactured items for defects, because there won't be any.  04. Move towards a single supplier for any one item Multiple suppliers mean variation between feed stocks. 05. Improve constantly and forever Constantly strive to reduce variation.  06. Institute training on the job If people are inadequately trained, they will not all work the same way, and this will introduce variation.  07. Institute leadership Deming makes a distinction between leadership and mere supervision. The latter is quota- and target-based.  08. Drive out fear Deming sees management by fear as counter- productive in the long term, because it prevents workers from acting in the organization’s best interests.  09. Break down barriers between departments Another idea central to TQM is the concept of the 'internal client', that each department serves not the management, but the other departments that use its outputs. 10. Eliminate slogans Another central TQM idea is that it's not people who make most mistakes - it's the process they are working within. Harassing the workforce without improving the processes they use is counter-productive.   11. Eliminate management by objectives Deming saw production targets as encouraging the delivery of poor-quality goods.  12. Remove barriers to pride of workmanship Many of the other problems outlined reduce worker satisfaction.  13. Institute education and self-improvement  14. The transformation is everyone's job Step #02 Professional Construction Bookkeepers  What Is A Professional Construction Bookkeeper? ·Someone who has invested the minimum of 10,000 hours that it takes to master the profession ·They continue practicing, learning and growing their knowledge and skills ·They arrive on time and leave on time ·They greet your customers and clients with a smile ·They understand their job description is serve your customers ·They cares about you as a person ·They care about your company ·They care about your staff ·They care about your suppliers ·They are cheerful, thinking, responsible adult ·They focus on their job while at work ·They leaves home issues at home and work issues at work ·They continually learns new skill sets because they take pride in their work ·They embraces processes and procedures that allow everyone to succeed ·They produce reliable financial and job costing reports that you can use ·They take a lunch break away from the office to recharge their minds and bodies ·They take reasonable breaks during the day to clear their mind ·They are first and foremost team players working to maintain the integrity of your QuickBooks What Is Required To Find And Keep A Professional Bookkeeper? ·A living wage with benefits ·Air Conditioning in the summer and heat in the winter ·Company paid training to continually update their skill sets ·Do not expect them to ANSWER THE PHONE! ·Good lighting in their office and the building in general ·Kitchenette with free beverages, snacks, frozen foods and a microwave ·Library of online knowledge base available only to qualified Bookkeepers ·Lots of room to spread out paper and assorted files ·Private office with a door so they can work in quiet and think ·Provide them with 24-7 technical English speaking U.S. based phone support ·The latest in computer hardware and software with lots of power ·Two large flat screen dual monitors with DVI inputs and high resolution ·Understand and implement as much as possible the following: oDeming’s 14 points oCovey’s 7 Habits oGood To Great Click Here For More Recommended Reading I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number This Podcast Is Episode Number 0106 And It Will Be About The Cheap Contractor Spends The Most Money  In an attempt to save money, the cheap contractor does the following and ends up spending the most money and earning a tiny profit because they believe in Maximizing over Optimizing. In the short run Maximizing can payoff; however, in the long run it never does.  This article is a bit strong and it could offend some folks. If it offends you, please accept my sincere apologies. I tend to tell it straight and not sugar coat anything because I have been involved in the construction industry most of life beginning with working in my Step Father's construction company after school in the mid 1960's. During my lifetime, I have seen too many contractors work hard, never have enough money to retire. Some of them die from exhaustion and others just wore themselves out and lived their final years in poverty and only a few, less than 5% ever made enough money from owning and operating their construction company and outside investments to retire early enough and enjoy a comfortable lifestyle. Part of our mission here at Fast Easy Accounting is to help as many contractors as we can to shift their Paradigm and become one of the top 5%.  Overloaded Construction Vehicles Cost More Money Than They Save Example #01 They overload their vehicles beyond what they are designed to carry They believe the truck manufacturer "Low-Balls" the Gross Vehicle Weight Rating (GVWR). For a short read on this subject, click here to download a white paper. For more in depth information on GVWR please visit Model Minimum Uniform Crash Criteria they have extensive data on this subject. Excess Weight Causes: Premature tire failure $$$ Replacing brakes more often $$$ Lower gas mileage $$$ Wears out engines, transmissions, suspensions faster $$$ If you are involved in a traffic collision and the attorneys get involved it could cost you everything you own and then some $$$$$$$ Google "Does an overloaded truck have legal implications in a car wreck" and you will get over 2,000,000 results Cheap Tools Cost More Money Than They Save Example #02 They buy the cheapest tools they can find They believe buying tools based on the price not the Total Cost Of Ownership (TCOO). The total cost of ownership has to take into account what ten minutes waste cost your construction company  Cheap Tools Waste Time And Money: The bargain basement priced shovels that break the first day you try to use it $$$ The cheap light weight hammer that splinters and sends shrapnel flying everywhere $$$ The low priced sazall, drill or circular saw that falls apart after a week $$$ The thin gauged extension cords that cannot provide enough power to do the job $$$ Damaged power cords that are hazardous and when OSHA finds them you pay lots of fines and penalties $$$$$$$ Make More Money Faster - With productivity gains. Every Ten Minutes Your Construction Worker Costs You $5.94 Every Ten Minutes A Day Of Unproductive Construction Worker Labor: For Employee #01 Could Cost The Company $1,544.42 Each Year At 10% Profit You Need $15,544.20 More Sales To Maintain Profit Margin For Example - Your best construction worker asks for a tool: It costs $1,200.00 It will save ten minutes a day in labor It will last 3 years The standard response is the company can't afford it!  Highly Profitable - Construction company owners ask their construction accountant to calculate the projected the Return on Investment (ROI) is and then consult their Strategic Business Plan to make an informed decision. In This Example - It may make sense to finance the purchase even if it means using a credit card at 12% interest because the net return is $3,289.36, which is 245% ROI. See below: QuickBooks Online Is A Recipe For Disaster For Contractors Example #03 They try to make QuickBooks Online work QuickBooks Online is a great product for many companies, but not construction. The primary reason is contractors are one of the few companies that pack their entire company into trucks and vans, drive it to their customer's location. Then they put together a custom built product which means the margin for error is enormous and break even calculations are a moving target can only be done in a properly Setup QuickBooks File Designed Specifically For Construction Accounting. Most companies have a fixed location where customers come to them and they sell prepackaged products which they know exactly how much margin they need to sell everything for in order to earn a profit and stay in business so their company breakeven is very simple to calculate. Contractors Using QuickBooks Online May Experience Some The Following Issues 1.Limited Job Costing Reporting 2.Limited Sales Tax Reporting 3.Limited Custom Reports 4.Limited Report Formatting 5.Limited Detail On Reports 6.Limited Filtering Of Reports 7.Limited To One Window 8.Limited Tech Support 9.Limited 3rd Party Apps 10.Slow Response Time 11.Wasting Time Moving Between Windows 12.Cannot Easily Link Multiple Companies 13.Payroll Issues 14.Importing multiple transactions 15.Importing IIF Files 16.Updating Chart of Accounts 17.Work-In-Process (WIP) Reports 18.No Inventory Reporting 19.Problems With Retention Held Reports 20.Problems With Retention Due Reports 21.Purchase Order Tracking 22.Job Progress Invoice Tracking 23.Corrupted Trial Balance Reports 24.Corrupted Financial Reports 25.Cannot Create Item Reports 26.Cannot Backup Before Performing Major Revisions 27.Too Many People In The File 28.QuickBooks Online Is Like A Doorknob Where Everyone Gets A Turn 29.Not Enough Controls To Keep Amateurs From Really Causing Problems 30.Tax Accountants in an effort to make QuickBooks online easier for them 31.Pages Regularly Become Unresponsive The Program Needs To Be Restarted QuickBooks Online is a great program for small companies including some non-profit organizations but it is not suited for a serious construction contractor with more than two projects a month and generating more than $500 a year in sales. Most Construction Companies started using QuickBooks Online so they could get to their QuickBooks Pro or QuickBooks For Contractors file anywhere they have internet access 24/7. We Can Move Your QuickBooks Online File Into Our Private Cloud Server And Provide You With The Full Power Of QuickBooks Desktop Version Online In The Cloud! Access QuickBooks Desktop Version From Your PC or Mac Highly Skilled Technicians Maintain The Software And We Maintain Your QuickBooks File Push A Button And Have 1.Paperless System For You To Store, Print, E-mail Documents 2.Microsoft Is On The Server For You To Use 3.Microsoft Excel Is On The Server For You To Use 4.Key Performance Reports Every Contractor Needs 5.Cash Report anytime YOU want it! 6.Receivables report anytime YOU want it! 7.Payables report anytime YOU want it! 8.Profit & Loss statement anytime YOU want it! 9.Balance Sheet report anytime YOU want it! 10.Job Costing report anytime YOU want it! 11.Estimates Vs. Actuals report anytime YOU want it! 12.Frequently Asked Questions And Answers Click Here QuickBooks For Contractors Is Running Smoothly On Cloud Based High-Speed Servers 1,000+ Miles Away From Our Office In Lynnwood Washington with redundant backups offsite Tucked Securely In A Building With Armed Guards With Highly Skilled Technicians Maintaining It All QuickBooks Files Are Backed Up Every Night On A Secured Server Access Windows QuickBooks Desktop Version From PC or Mac English Speaking, U.S. Based Technicians Maintain The Server QuickBooks Software Updates Are Automatically Applied We Provide Your QuickBooks Maintenance And Support  Frequently Asked Questions And Answers Click Here But Wait There's More! Our Contractor Clients Have 24/7 Access To QuickBooks Contractor Financial Reports! Just when you thought our special brand of outsourced contractor bookkeeping services couldn't possibly get any better...it does...yet again! We provide professional contractor bookkeeping services primarily for construction company owners with annual sales volume $0 - $5,000,000 using the full desktop version of QuickBooks For Contractors which rests on an Intuit Approved Commercial Hosting Service. On demand 24/7 internet cloud based access to your QuickBooks Reports including Profit & Loss, Balance Sheet, Receivables, Payables and more without having to own or  open QuickBooks For Contractors! Example #04 They get the cheapest bookkeeper they can find The cheap contractor thinks all bookkeepers are the same; however, they bristle at the suggestion all contractors are the same. It is true that almost anyone can do bookkeeping because 95% of it is boring and only 5% is sheer terror. However when the regular bookkeeper attempts to do construction accounting that is like watching a naked person, covered in honey getting into a fight with a grizzly bear in the woods; it never ends well. Until Your Construction Company - Reaches at least $5 million in annual sales you cannot afford to hire a qualified bookkeeper or construction accountant full-time to put on your accounting staff because there is no such thing as a part-time qualified bookkeeper or construction accountant. For Example - You Hire someone with bad habits who is a Cheap Bookkeeper part time at $15.00 an hour for 10 hours a week thinking you will save money. The problem with that is you may not understand the true cost to have them on your payroll, including overhead, is closer to $25.29 per hour.  Every Ten Minutes Your Bookkeeper Wastes Costs You Money! Every Ten Minutes A Day Of Unproductive Office Labor: Could Cost Your Company $273.93 Every Year At 10% Profit You Need $2,739.30 More Sales To Maintain Profit Margin Everybody Loses When A Contractor Goes Out Of Business Or Worse Yet Bankrupt! It May Seem Harsh - In order to survive and thrive as a contractor you must make certain your employees are focused on their job during the time you are PAYING THEM TO WORK! You must do whatever it takes to enforce the rules of engagement for producing results at your contracting company or be prepared to work for some other contractor and live under their rules. Plugging Some Of The Little Leaks Listed Above Can Be Done Without Spending A Dime! Some Will Require Investment; Consult Your Construction Accountant For Advice! In Some Cases - We can do more work for less money by providing you with real construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more at a lower overall cost and as an added bonus show you how to make more money than you are now! Two Contractors Doing Similar Work - For similar customers with the similar direct and indirect construction costs will have massively different KPI Reports including the Profit and Loss Statements. Size matters when it comes to piles of money and bigger profits! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0105 And It Will Be About How QuickBooks Journal Entries Distort Construction Job Cost Reports Lately We Are Seeing An Increase In QuickBooks Journal Entries Journal Entries - Are a quick and dirty way to get transactions in without putting forth time and effort to enter each transaction. In the short run you save time; in the long run you can forget about accurate Job Cost Reports. Credit Card Statements - Are the most common example we see followed by vendor statements from lumberyards, Home Depot, Lowes, concrete suppliers, plumbing and electrical suppliers and others. The Bookkeeper - Shuffles through a pile of paperwork or electronic documents and finds a credit card statement and notices that it has a lot of transactions. Depending on how well the bookkeeper has trained the contractor is what determines whether the transactions are properly entered and the costs assigned to a job using the item codes or if there is one giant Journal Entry. Using Journal Entries - Means there is no place to record the Job Cost information which some contractors call Schedule of Values, CSI Codes, SOV, WIP and a bunch of other labels used to describe the terms that are common to both construction accounting and construction project management. We Have Seen - Hundreds of situations where a regular bookkeeper has put together one giant Journal Entry instead of properly coding and inputting each transaction and then told the contractor QuickBooks will not produce accurate Reports of any kind. In a few situations, the bookkeeper has suggested we should use our influence with QuickBooks to get them to fix the problem. We Do Our Best Not To Say - That we are looking at the problem, a bad bookkeeper not properly trained in construction accounting. Unless and until the contractor is willing to pay $25,000 to $50,000 for their education, and pay their salary for the time, they will spend in classroom instruction and homework the problem will not be solved.  However, for a fraction of the cost they could outsource the bookkeeping to us and not worry about it frustrated because they heard from someone else that we can make QuickBooks sing and dance and do amazing things and that Job Costing is only a tiny little part of what we do! We Can And We Do - Every day of the week and Job Costing is only one of the tips of the QuickBooks Construction Accounting Iceberg. QuickBooks Setup - And choosing the correct QuickBooks Version is the most critical part of being able to generate accurate QuickBooks Reports including Job Cost Reports 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. Four Things To Watch For That Could Be Killing Job Cost Reports   1. Are there more than three Journal Entries a month? 2. Are credit card charges and payments being recorded with Journal Entries? 3. Are supplier and vendor bills and payments being recorded with Journal Entries? 4. Are the Job Cost and Job Profitability Reports vastly different from the Profit And Loss Reports? We Have A Bookkeeping System - And checklists for everything and including a Quarterly Review Checklist to make certain all transactions are properly coded based upon the electronic and paper documents our clients provide us. If Your Intention Is - To someday sell your business and retire excessive Journal Entries will not help you get the best possible price because there are a number of financial ratio’s that will not calculate using Journal Entries. From An Accounting - Point of view there is nothing wrong with Journal Entries and many companies operate with a set of Journals, Ledgers and Sub-Ledgers and they generate financial reports and file taxes with no problems at all. From A Project Management - And business planning perspective the opposite is true because accounting looks backward into historical records to determine what happened and why. Project Management, Business Planning and Forecasting looks forward and bases projections on accounting records in the form of financial ratios, job Costing and uses S.W.O.T. Analysis to determine the best place to focus your company's limited resources in order to optimize profits. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0104 And It Will Be About QuickBooks Is Not A Professional Construction Accounting Software  But It Can Be Made Into One For Contractors With Annual Sales Volume Between $0 Start Up And $10,000,000 Did you buy QuickBooks thinking it was “Quick” at keeping the “Books” for your Contracting Company and got very frustrated with it because it was neither? You are not alone! The question a lot of contractors ask is "Does anybody out there understand how to do the bookkeeping for my Construction Company?" It is not your fault QuickBooks fault, your spouse’s fault or your bookkeeper’s fault or anyone else’s fault. QuickBooks was built upon the foundation of very simplistic single-entry bookkeeping software called “Quicken” built on DOS. Quicken was developed for regular people, not businesses, to have an electronic check register for keeping track of bank balances without having to use those tiny manual paper registries that come with every box of blank checks? When Quicken was released it was immediately popular and very soon a lot of small businesses started using it and started asking the parent company Intuit for a business version of Quicken. Intuit responded to market demand and released “QuickBooks” which is double entry bookkeeping software for business. QuickBooks was better by far than anything was at the time because it was inexpensive and easy to figure out. However, like most things, it got big and better and the growing pains were horrible. If you Google “Construction Accounting Software” the results are over 20,000,000. Construction trade journals list over 4,000 construction accounting software programs that actually work well for the construction industry. Enterprise level contractors with 100+ employees need to invest several million dollars to buy implement and install construction accounting software. Professional level contractors with 50-100 employees need to invest several hundred thousand dollars to buy implement and install construction accounting software. Professional level contractors with 20-50 employees can easily buy implement and install QuickBooks For Contractors Enterprise version for roughly $25,000. All other contractors with 1-20 employees can purchase QuickBooks For Contractors Premier for around $500 and install it themselves or hire a construction accounting professional to setup QuickBooks for their particular need. QuickBooks is designed to be the low price leader in Construction Accounting Software and that is O.K. because it is very customizable if you know how to do it. We have thousands of webpages chock full of FREE information and FREE Forms you can download which is available in public and online. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0103 And It Will Be About Contractor Cost Library A Cost Library Is Another Secret Successful Contractors Use To Generate Enormous Positive Cash Flow And Profit Money doesn't grow on trees; it grows inside your properly setup QuickBooks file that is maintained by people who understand construction accounting. All you have to do is follow the Contractors Success M.A.P. and in due time you can become wealthy. This article is going to cover one of the secrets we share with consulting clients known as The Cost Library.  A cost library is used to develop construction estimates and there are three basic types of cost libraries contractors use: Heuristics - And experience is the most common method since they are essentially shortcuts that reduce the mental energy or cognitive load of making a decision. Contractors also call them Rule of Thumb, SWAG - (Silly Wild All-Encompassing Guess), Past Experience, Intuitive Judgment or common sense. Excel Spreadsheets - Most common among contractors who have made a lost a lot of money using heuristics. These are normally put together over several years of painful losses followed by more and more painful losses. Contractors will spend a bit of time trying to figure out Job Costing and Job Profitability by generating QuickBooks reports. If their QuickBooks setup was done by someone who truly understands construction accounting vs. regular accounting then they have a decent system and are likely earning over $100K a year. Cost Library - Is built on the Excel spreadsheets mentioned above with one HUGE DIFFERENCE. It takes a holistic approach to the contractor's company by adding the Contractors Success M.A.P. of Marketing + Accounting + Production. See Contracting In A New Light Two Sample Remodel Contractors - Each operating in the same geographical area with similar size crews doing roughly the same type of work for homeowners with similar demographic and psychographic profiles. Contractor #1 Has A Business Plan - And focuses on activities that have the highest likely hood of generating a quick result. The 80 20 rule for construction company owners. They work closely with their business coach to continually update, develop and implement their custom strategy. They needed a business coach who gets his hands dirty, not just a idea people with education and no experience owning an operating contracting companies but an implementation people who have been where you are understands what you need and can teach you how to do it right including The Five Key Performance Indicators. There Is Duality In QuickBooks Reports What You See And What You Don't See When most contractors look at a Profit & Loss report they see two things: Income is close to the same for each contractor Net profit is over twice as high for contractor #1 as it is for contractor #2 What You May Have Missed - Are the dozens of things contractor #1 has done to lower the Direct Construction Costs and outsource the bookkeeping services which have resulted in more efficient operations. Not sure where to go from here? Let us help you craft your own unique program just for your contracting company and help you gain clarity on how to set your business up to create a 6 Figure income call Sharie 206-361-3950 or email her [email protected] and ask about our contractor consulting services I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0102 And It Will Be About The Top Ten Myths Of  Construction Bookkeeping Over The Past Few Decades We Have Heard And Read Some Really Good Construction Bookkeeping Myths And Legends And Here Are A Few #10 "I thought the QuickBooks website said that QuickBooks was easy to setup and use" #09 "Since it has Quick in the name then of course QuickBooks is easy, why else would they do that?" #08 "I know how to write checks and balance my bank statement so how hard can it be to use QuickBooks" #07 "I attended a full day QuickBooks class and got this pretty paper certificate that says I know QuickBooks"  #06 "I've been doing bookkeeping for over twenty years and you can't teach me nothing I don't already know" #05 "I have worked at a bank for over ten years and seen hundreds of financial statements so I can use QuickBooks" #04 "I am a C.P.A. and I know everthing about accounting, so doing the bookkeeping for a contractor child's play" #03 "I have lots of experience because the last four contractors I did bookkeeping for all filed for bankruptcy"   #02 "I took an accounting course in college so doing the bookkeeping for a construction company can't be that hard" #01 "I have a degree in accounting which I have never used, but I can do contractor bookkeeping how hard can it be?" We have heard hundreds more similar to the ones shown above; however, these are the top ten from number ten who will do the least damage to number one who will, has and does the most damage of all. As Daniel J. Boorstin said "The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." I find the more I learn about construction accounting the more there is about that I don't know. This is why everyone working here at Fast Easy Accounting are continually learning and updating our skills. And that is why we specialize in contractor bookkeeping services and only allow a few highly qualified business owners who are not directly involved in construction to be a part of this exclusive club. Do we cost more than most other bookkeepers and bookkeeping firms? That depends on what you want. If you want to spend as little as possible on your contractor bookkeeping services search Craigslist they have hundreds of them. I know this because we fix a lot of their QuickBooks setup messes.  If you want to hire a bookkeper employee consider these three important things: #1 - It will cost more than you think and you will still need outside accounting help! #2 - Bookkeeper embezzlement is on the rise! #3 - You need to invest at least $10,000 in hardware and software or you will pay for it in bookkeeper labor! the graphic below which shows that an in-house bookkeeper paid $15.00 an hour will end up costing you $25.29 per hour! And in most cases we can do the job for less money, faster and more accurately with a team of people, each one specializing in different areas of construction accounting and contractor bookkeeping services. #1 - Fully Burdened Bookkeeper Cost Simply means what it will cost you to hire someone including the company portion of the payroll taxes and all those little costs that only an accountant like me would think about. The example below shows a part-time in-house bookkeeper at $15.00 an hour working 10 hours a week. Notice this poor soul does not have any benefits at all and they still cost the company $25.29 per hour! For more on this please visit www.FastEasyAccounting.com/bc These costs do not include heavy training for your bookkeeper; read The Nine Steps for more information on this. The two happiest days in a construction company owner's life is the day he hires a bookkeeper and the day he outsources his bookkeeping. Generally speaking we know from our research a typical contractor with 2-4 employees and annual sales of $500,000 will need at least a part-time bookkeeper for 10 hours a week and they will try to get away with only paying them $15.00 an hour plus overhead and it will cost their construction company approximately $13,000 - $15,000 a year and most of the time they will still overpay their taxes, have bad or non-existent financial and Job Costing Reports. But you’d still need an in-house bookkeeper, right? Well… perhaps not. See, outsourcing is often interesting in that, while you still need administrative resources, they can be less skilled. They don’t need to have any contractors bookkeeping service skills to pick up the mail, make bank deposits, print checks, which can be done on your local computer even with QuickBooks Desktop version in the cloud. It’s likely a part-time office assistant could do that in addition to other duties and errands. #2 - Bookkeeper Embezzlement Is On The Rise Due to the ever increasing belief in "redistrubution of the wealth", the ever increaseing rise of "entitlement mentality" and general feeling that workers are being taken advantage of by their bosses and business owners a lot more office employees are stealing more than ever, and it will only get worse. The least costly embezzlement is that on average office workers are spending two hours a day on personal errands, phone calls, Facebook, twitter, youtube, personal email, cyber shopping and other social media and at $25.29 per hour it costs construction company owners like you $50.58 a day! If your contracting company earns 10% net profit, which is over four times the national average, that means you must sell, produce work and collect $505.80 a day to make up for the loss! Every Ten Minutes Your Bookkeeper Is Costing You $4.21 The most costly embezzlement could destroy your business and personal finances. There are Twenty One Signs Of Bookkeeper Embezzlement and if you have an in house bookkeeper you need to study them carefully and be on gaurd against all of them. Click here to learn more. You may be surprised to learn who the biggest most frequent offenders are and how easily they avoid prosecution. #3 - Invest At Least $10,000 In Hardware And Software 1.Desk, Chair and starter pack of office supplies = $1,200 +/- 2.High-speed desktop computer with lots of power custom built = $2,000 +/- 3.Minnimum two computer monitors with high resolution = $1,000 +/- 4.Computer network system (hardwired and wireless capable) = $2,000 5.Laserjet Printer = $500 +/- 6.Highspeed Scanner = $500 +/- 7.QuickBooks for Contractors software = $350 +/- 8.Microsoft Office Professional Software = $500 +/- 9.Acrobat Pro Software = $450 +/- 10.Other assorted software = $1,500 +/- You do not have to invest anything more than a few dollars and get the cheapest hardware and software you can find and you will save money in the short run; however, in the long run it will cost you dearly. If you bookkeeper wastes a two hours a day trying to get cheap worn out office equipment to do your contractor bookkeeping could cost your contracting company $3,287.16 a year! At 10% Profit You Need $32,871.60 More Sales To Maintain Your Profit Margin! In Some Cases - We can do more work for less money by providing you with real construction bookkeeping and accounting + payroll processing + monthly and quarterly tax reports + year end W-2, W-3 + profit and growth management consulting + financial and job costing reports + paperless data storage and more at a lower overall cost and as an added bonus show you how to make more money than you are now! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0100 And It Will Be About The Recession Is Going Away The Worst Is Over Which Means Now Is The Time To Get Ready To Prosper!No I Am Not Crazy - The Business Cycle is getting ready to turn. Like the ocean waves it is constantly moving and rolling up and down over and over. When you have a Business Strategy and you know the answers the questions will not bother you! Just like when you took a test in school in your favorite subject; it was fast and easy! I Am Privileged - To have been Involved with The Greatest Industry On Earth, Construction since 1965 when I was a child in grade school working in my step father's landscaping and construction business. Those Were Good Times - He had true grit and a heart as big as a mountain. He was severely handicapped and yet he manned up every morning and got the job done, every day for over 50 years, as an owner / operator of his construction business. If you are interested you can read more about him by clicking here.In The 1960's - Riding in his truck I kept seeing the signs "Will the last person leaving SEATTLE - Turn out the lights". When I asked him what that meant his smiled and said "less competition for us". The man just did whatever it took to keep things going. Because He Lived Through - Several ups and downs in the economy and knew the secret was to never give up and "Keep the faith" save some money in the good times to help get you through the bad times. Now that I have some experience and understanding, I know what he meant by less competition. Less Competition Means - When the economy is recovering demand for construction rapidly and almost overnight it outstrips supply because so many contractors gave up and left the industry. Contractor's phones start ringing and practically don't stop for a long while. Proactive Construction Companies - Who invested time and money getting their systems and processes in order, ALWAYS grab a nice big thick slice of Market Share Pie and it tastes mmmmm-gooood! Contractors Need To Break Free - Of the thinking that keeps them on the emotional roller coaster of when business is going poorly it will never get better and when business is going great go buy a new pickup truck and forget about putting together a Business Process Management System.Keep The Faith Good Times Are Coming! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0100 And It Will Be About Warning Signs You Have A Bad Bookkeeper In Your Contracting Company The Number One Warning Sign You Have A Bad Bookkeeper Is They Panic When You Say You Are Going To Ask Us Review QuickBooks It is amazing how many times over the years we have been called in by contractors to clean up a horrific QuickBooks disaster caused by the same bad bookkeepers. There is a never ending supply of bad bookkeepers, cheap bookkeepers and incompetent bookkeepers that move around the USA including Alaska and Hawaii to infect and attempt to destroy construction companies, home builders, commercial tenant improvement contractors, handyman contractors, remodel contractors, trade contractors, subcontractors, general contractors and more. Every time it happens it feels like we are all living through a bad movie script and everybody knows their lines and the bookkeeper knows the scam is over and it is time to leave. A word to the wise "If you think it may be time to fire your bookkeeper you are already fifteen minutes too late! It is hard to fire someone and it needs to be done properly. Unfortunately, we know of dozens of contractors who never did and let the situation deteriorate until they lost everything and filed bankruptcy. Here Are The Warning Signs You Have A Bad Bookkeeper In Your Contracting Company They talk down to you, uses "accounting speak," and try to make you feel stupid when you ask a question They are consistently arrive late, rushed, and miss deadlines without an explanation or apology They leave your office a mess (papers in a pile, unopened mail, checks lying around that should be in the bank) They look sloppy or disheveled and dress in like they are on vacation or something less desirable They don't explain your options for resolving a problem or generating a report; it's basically their way or the highway They don't review QuickBooks on a consistent scheduled basis to make sure everything is in working order They conduct personal business from your office when they are supposed to be working on your projects They get defensive or argumentative when you ask about financial reports or project costs They train contractors like an organ grinder trains a monkey, click here to learn more They refuse to invest time and money in continuing education because they know everything They are passive aggressive and will study you and your staff to learn how to manipulate everyone They are masters at gaining power over you, your staff, and new employees and outside suppliers They hate change and will fight tooth and nail to stop it or they will destroy your company They know you're responsible for taxes, fines, penalties and interest; so this is where they get even They know how to increase your quarterly tax return costs, click here to learn more They understand that bookkeeping is 90% repetitive transactions and 10% complex transactions They don't know what to do with complex transactions, so they put them wherever they feel like They have side jobs working for other companies or an entire bookkeeping business on the side They decide how much integrity, if any, your company has and they tell everyone who will listen They create a miserable work environment causing turnover in your staff which costs you money They make your customers and clients feel unwelcome and unappreciated which costs you money They act as if they are serving time in jail and do the minimum required to keep their job They say things to suggest businesses are bad and construction company owners are the worst They are jealous of your success and even more so if they ever had a failed construction business They don't learn anything new, whys should they, nobody is reviewing the QuickBooks They never learn anything new unless the company pays for the training and it is on the clock They quit when the tax return is being prepared because QuickBooks is a mess and they're caught They come in a little bit late every morning and leave a little bit early to make up for it They bait you with drama, nasty comments and minor actions to find your tolerance limit They get even with you for every perceived injustice against themselves and society as a whole They keep you busy with lots of mindless crap to divert attention from why the books are a mess They let you think you are in control of the bookkeeping and the bookkeeper until it is too late They make you think they are looking out the best interest of the company, LOL! They let the work expand to fill whatever time you are willing to pay them to get it done They become indispensable in order to take time off whenever they please and hold you hostage They negotiates for additional perks, benefits, changes, and elimination of personal accountability They network for a better job with your clients, suppliers, vendors and your competitors They represent themselves to outsiders as the owner or manager with decision making authority They text, message, e-mail, surf the web, chat on the phone and socialize on company time They train you to leave them alone by getting upset or angry whenever you want anything They work hard at causing just enough chaos so owner does not earn more than the bookkeeper They live in a chaotic, neurotic, psychotic, selfish, disorganized, blame game environment  They work through lunch to leave earlier in the day (At the office for 7 hours and get paid for 8) If Your Business Fails They Say "You Were Incompetent And They Saw It Coming" When They Leave Expect To Hear: “Chaos, panic and disorder...my work here is done!” Question - What happens when the person in control of QuickBooks is unhappy with you? Answer - The same thing that happens when the person who cooks your food is unhappy with you!   In The End - Bad Bookkeepers will leave you with unfiled and unpaid taxes, gasping, upset, with tear stained checks, wide-eyed, stupid, mouth open, standing in the middle of the highway of business success staring at the remains of your business, crashed, rolled over, upside down, in the ditch, on fire, with flames belching from all sides with no hope in sight. And then things get real ugly as you recall reading The General Contractor And The River Of Construction Commerce and realize all of this could have been avoided! I have seen bad bookkeepers ruin too many businesses, especially construction businesses. In most cases it was Bookkeeper Incompetence or Bookkeeper Embezzlement and in other cases it appears to me there may have been some deliberate identity theft; however, I cannot be certain. All I know for sure is that I have witnessed business failures that have led to divorce, families destroyed, finances wiped out and people living on the streets. In a few extreme cases I know of contractors that have taken their own lives and it needs to stop! Replace Your Wealth Prevention Tool Before It Is Too Late Outsource Your Bookkeeping And If Not Us Find Somebody ASAP! I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0099 And It Will Be About Contractor Strengths Weakness Opportunities And Threats SWOT Strengths, Weakness, Opportunities And Threats Analysis (S.W.O.T.) - Are among the tools we use to help construction companies like yours to evaluate your geographic and demographic target markets and develop strategic plans to increase you company sales, cash flow and bottom line profits by focusing on a few Key Strategies that require the least amount of effort and generate optimum return. Strengths - Are construction projects that your construction company does extremely well at and earns a greater than average gross margin than give it an advantage over other contractors. What are they and how can your construction contracting company expand on them? Weaknesses - Are construction projects that your construction company does poorly at and breaks even or loses money. What are they and how can your construction contracting company turn them into strengths? Opportunities - Are construction projects and markets not currently being served where it is possible for your construction company to enter and turn them into strengths? Threats - Elements outside your construction company that could cause trouble for you or your construction projects. What are they and how can your construction contracting company turn them into opportunities? "So it is said that if you know your enemies and know yourself, you can win a hundred battles without a single loss. If you only know yourself, but not your opponent, you may win or may lose. If you know neither yourself nor your enemy, you will always endanger yourself." The Art of War by Sun Tzu There Is A Lot More that I would like to share with you about using SWOT to help your construction company increase sales, profit and cash flow by redirecting the time, money, energy and resources from the bottom 80% of your current customers clients and jobs to the top 20%. Please feel free to contact Sharie for more information. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0098 And It Will Be About Strategic Contractor Bookkeeping Services Is Your Wife, Girlfriend, Partner or Bad Bookkeeper Responsible For Your Contractors Bookkeeping? Are You At The Mercy - Of your bookkeeper? Does your bookkeeper have any bad habits that annoy you?  Did You Know - That you may be able to have your construction bookkeeping done professionally for less than you are spending now! People Ask How - Can we save them $100's or even $1,000's dollar a year when they can do their own construction bookkeeping or hire a Cheap Bookkeeper? Read our article Cheap Bookkeepers The System Is The Solution - In 1991 we developed a Comprehensive Construction Strategic Bookkeeping System to add useful content to QuickBooks setup in order to make it work for construction companies. Since then we have made thousands of improvements and we continually improve, update, innovate and enhance it.  Having Worked With Contractors - And seen 100's of QuickBooks setup files, met with lots of bankers, bonding companies, commercial insurance brokers in addition to our own experiences owning and operating construction businesses we understand the special type of strategic bookkeeping services that construction company owners like you need. Having owned and operated - Several construction businesses over the past 30+ years we understand your industry and best practices when it comes to contractors bookkeeping, construction accounting and operating a profitable construction business. One Key To Success - Is delegating stuff you don't like doing because you aren't doing it right anyway.  Our Strategic Bookkeeping Services System Delivers - Strategic contractors bookkeeping services right and on time because we are not at the mercy of our bookkeeping staff. What You Get With Our Strategic Bookkeeping Service: No hassle contractors bookkeeping services Professional Construction Bookkeepers with a minimum of 10,000 hours of practice Cloud based desktop version of your QuickBooks You don't have to buy QuickBooks, we can lease it for you Fast Easy Way To Get Paperwork To Us Cloud based document storage QuickBooks setup done right Bad QuickBooks setup fixed QuickBooks cleanup QuickBooks catchup Back bookkeeping entries caught up Flat Rate Pricing Available Quarterly Tax Returns Sales Tax Returns Payroll Processing Payroll Tax Returns, 941 and 940 Free Stand Alone Invoice For Contractors  Standard Invoicing Service Work In Progress (WIP) Reporting Pay Application Invoicing For Remodel Pay Applications For Tenant Improvement (TI) Job Deposit Tracking Retention Tracking System Insurance Audit Support Service QuickBooks Reports Job Cost Reports Optional scanner for sending paperwork to us with the touch of a button  Five Key Performance Indicator Reports for monitoring your business Business Processes Management Business Coaching - Someone who understands your business Construction Marketing Resources QuickBooks Setup For Construction Company Access to Meeting Space 24/7/365 - For training, meeting clients and vendors and quiet work place Consistency Is Key To Effective And Efficient Contractors Strategic Bookkeeping Services Our Strategic Contractors Bookkeeping Services - System is an assembly line where contractor bookkeeping tasks are divided into groups and assigned by skill level. And everything is reviewed by competent construction accountants who cost us less and we pass the savings on to you! Would You Like Remote Access Your QuickBooks Anytime And Anywhere? Please visit www.FastEasyAccounting.com/ra One Button Key Financial Reports: Cash Report anytime YOU want it! Receivables report anytime YOU want it! Payables report anytime YOU want it! Profit & Loss statement anytime YOU want it! Balance Sheet report anytime YOU want it! Job Costing report anytime YOU want it! Estimates Vs. Actuals report anytime YOU want it Here Is What Else You Get: Desktop Version of QuickBooks you can access from any internet connection QuickBooks Runs On High-Speed Servers In A Building With Armed Guards Highly Trained English Speaking Server Technicians QuickBooks file backed up every night on a secured server English speaking, U.S. Based tech support for server support We maintain and support your QuickBooks data file and reports QuickBooks software maintenance updates are automatically applied Paperless document system for storing, retrieving, printing and emailing Microsoft Word is on the server for your use Microsoft Excel is on the server for your use Learn More At www.FastEasyAccounting.com/ra I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0097 And It Will Be About Having A Business Plan For Your Construction Company Your Business Plan is one of your key Competitive Advantages that can massively increase your sales, profitability and cash flow. The reason is simple, 99% of your competition do not have one and many of the ones that do rarely look at it. In most cases when a contractor has a Business Plan it was because they needed loan, investment capital or some other external force was applied. Once the crisis or need passed they simply let it rest-in-peace on the shelf. Why Spend Time And Effort - To develop your business plan? Because contractors use business plans all the time and they most of them do not realize it until we show them: Business Plans For Construction Follow This General Format #1 Executive Summary - Reputation In construction, your reputation is vital due to the continual onslaught of competition, which is why highly profitable contractors establish and protect their reputations very carefully based in part on having the resources and expertise to complete the work on time and on budget. When you establish your construction company as a firm that gets construction projects done on time and on budget, you will find yourself on your way into the upper income bracket. #2 Mission Statement - What Type Of Construction Are You Good At? What type of construction are you focusing on? New, remodel, service and repair? Understand all of the resources you have, your skills, number of employees, type and condition of your tools and equipment, office and warehouse or shop space, location and what type of work and customer demographic generates you the most money for the least effort. Get this right and you can be rolling in money. Get it wrong and you could be in for a lifetime of pain and drudgery! #3 Competitive Analysis - What Do You Do Better Than Other Contractors Within Twenty Five Miles? Successful contractors know what type of work they are better at than their competition. They keep a keen eye on their mix of resources and expertise so they always have what they need to complete the work on time and on budget. Every contractor has a different mix of resources and expertise. Successful contractors know which aspects of construction they are good at and which ones to outsource and subcontract. That is part of their Unique Selling Proposition (USP) where they should concentrate all their energies. #4 Marketing Strategy - Who Are Your Most Profitable Clients Using The 80/20 Rule? 20% of your customers normally generate 80% of your net profit. 20% of the goods or services you sell contribute 80% of your revenue 20% or 2 out of 10 of your staff create 80% of the value for your customers. For More On This Go To http://www.fasteasyaccounting.com/8020 The frightening consequence of the 80/20 rule is that 8 out of 10 hours we spend at work drive almost no value to the bottom line and the biggest drain is trying to save money doing our own contractor bookkeeping instead of reviewing the Key Performance Indicator (KPI) Reports. Through our contractors bookkeeping services system you can access them 24/7 without opening QuickBooks for Contractors. Good contractor bookkeeping services can help you understand where your 20% is hidden. By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work. This is the great contribution a company receives from good QuickBooks financial reports from using QuickBooks the ‘right-way’.Every construction company knows who their best customers are and who the worst ones are. The key is to make a list to identify each group #5 Executive And Field Staff Qualifications - Journeymen vs. Cheap Labor The journeyman costs more per hour but produces more and better results at a lower costs over the long haul than a group of cheap laborers. This is easily documented in a well setup QuickBooks file #6 Financial Information - Profit & Loss and Balance Sheet Contractors typically run their business with a daily print out from the online account at their bank. Some use software and most that we come in contact with use QuickBooks. For construction companies with 1-10 employees, including the owner, and annual sales of $0-$5 Million, QuickBooks Premier Contractor Edition is in my opinion the only choice. It can produce all of the financial statements most construction companies need and much more. The most important reports for a contractor to see are the 5 Key Performance Indicators (KPI) Success is a few simple disciplines practiced everydayFailure is a few errors in judgment repeated everyday Here Is What We Recommend You Do Next: #1 Purchase Business Planning Software from Palo Alto Software. They offer two versions and we recommend the "Premier Version" since for the additional few dollars you get so many more reports and options. We can assist you with setup and maintenance of your Business Plan. #2 Let Us Setup QuickBooks for you or Clean Up QuickBooks as needed and help you write and document your Construction Company Business Plan. I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0095 And It Will About Bookkeeper Vs Accountant Vs CPA For Your Construction Company Tax Season Is Here and this is when most construction contractors think about getting their construction bookkeeping system in order so they can file their annual tax return for the previous year. Each Branch Of Accounting serves a different function similar to how it works in construction. There are framers, rough carpenters and finish carpenters and all three works with lumber yet in most cases the skillsets to do everything are rarely found in the same person. Three Carpentry Skillsets = Three Types Of People Someone Skilled In Framing, Rough And Finish Carpentry normally costs more and produce less per man-hour than a team of people with each individual skillsets. The issue is the super-skilled person tends to work at the pace which requires the most intense thought and skill and yet they expect to be paid the same rate for all three tasks which makes sense because they are super-skilled. The Amount Most Contractors Can Afford To Pay someone for framing a wall and installing rolling joists and installing sheeting is normally less than someone who can stick frame a complex roof line, install a tricky set of stairs or build a cantilevered deck. Further up the skillset and money chain is the person who can turn expensive pieces of hardwood into a masterpiece of woodwork inside a multi-million dollar home or commercial space. Three Accounting Skillsets = Three Types Of People Bookkeepers are the lowest paid and the least skilled accounting specialist. Their primary function is to read the incoming paperwork (electronic and hard copy) and follow a pre-determined set of rules and guidelines to put each transaction where it needs to go in QuickBooks orXero Accounting Online depending on which accounting software the construction contractor is using. Accountants are the next highest paid accounting specialist. Their primary function is to review the transactions, reclassify some of them as needed and prepare payroll, monthly tax returns, quarterly tax returns, basic Profit & Loss Reports and Balance Sheet Reports. Certified Public Accountants (C.P.A.) is the highest paid accounting specialist. Their primary function is preparing the annual tax return, performing audits and preparing Certified Financial Statements for bank loans and when a construction contractor requires them before issuing a construction bond. Most C.P.A. accounting specialists can do all of the accounting for most standard businesses who only need regular accounting but not construction accounting. The reason is they cost too much or in the case of Construction Accounting they do more damage than good. Contractors Accounting For Your Company The Type Construction Company you own and the annual dollar volume of work you sell and install will determine what is best for you. You Have Three Options: #01 - Do it yourself. (Consider taking some college courses and get some training first.) #02 - Hire someone part-time or full-time to work in your office and hope for the best. #03 - Outsource to a professional construction bookkeeping services firm that has it all. You Will Be Much Happier if you take a few minutes to read and understand the differences between regular accounting and construction accounting before making a decision. Bad Construction Accounting which includes not having reliable financial reports is the leading cause for why construction companies fail. In All Cases The Construction Company Owner sincerely believed they had the drive, guts, stamina and ability to "Power Through" any and all situations with "Brute Force" because in construction that is how 99.999% of all problems are solved. They Only Really Understand the TRUE VALUE of a construction accounting system when they have plenty of free time to reflect and think. That, sadly, is during the bankruptcy proceedings or at the auction where their entire construction company is being sold for pennies on the dollar to pay off some of the mountain of debt they accumulated. These Are Harsh Words and I only say them with the utmost respect and sincerity that comes from someone who has seen far too many contractors go down that path. I only hope to guide your steps so that you may avoid the aforementioned experience. For those of you that have already gone down that path you are not alone and now with your new found wisdom perhaps you will be open to trying something different. Construction Accounting Vs. Regular Accounting Learn The Differnces By Visiting www.FastEasyAccounting\ca All Accounting Uses The Accounting Equation Business Owners - Need three basic reports, Cash, Profit and Equity Cash On Hand................(Bank Balance - Un-cleared Checks) = CashProfit And Loss Report.........................(Sales - Expenses) = ProfitBalance Sheet Report..........................(Assets - Liabilities) = Equity Regular Accounting - Is roughly 80% of all accounting and Accounting for businesses in the world. So it is practically the only thing taught in schools, colleges and universities. This Type Of Accounting Is Used - Where customers comes to the place of business or at most you ship or deliver a packaged product. In essence you are selling a product or a service from a fixed location. Regular Accounting Has These Things In Common:1. Sales - With 1-4 categories2. Cost of Goods Sold - If they sell products with 1-4 categories3. Expenses - Overhead required to maintain business operations4. Breakeven - Is fairly easy to calculate because there is a direct relationship between income and expenses on every item. It is easy to run reports to determine which items are profitable and unprofitable and make adjustments quickly as needed. Construction Accounting - Is roughly 15% of all accounting and Accounting with manufacturing making up roughly 5%. So it is given very little attention in schools, colleges and universities. What little of it I have seen makes me very upset because I see the damage caused to contractors making management decisions on inaccurate reports.  The System Is The Solution Our Contractor Bookkeeping Services System Is A SystemThis Type Of Accounting Is Used - When the entire place of business is packed up and taken it to the customer. In essence you are selling, assembling, delivering and installing a customized product from a mobile shop on location. Think of it like shooting a movie on location without all the glamor, resources and money to go with it. Construction Accounting Has These Things In Common: 1. Sales - With 1-10 categories2. Cost of Goods Sold - Has Direct and Indirect Job Costs with 25 - 200 categories with 1,000s of sub categories3. Expenses - Overhead is extremely complex because some expenses in regular Accounting are actually Cost of Goods Sold in construction accounting4. Breakeven - Very difficult to calculate because most projects are one-of-a-kind custom jobs. Proactive contractors have systems and cost libraries with pre-priced assemblies for bidding which works in conjunction with Strategic Construction Accounting to provide management with progress invoicing, job costing and job profitability.5. Job Costing and Job Profitability Reporting - Is similar to the Company Profit and Loss report except that it is specific to each particular job and has different expense codes. These reports in combination with the Five Key Performance Indicators are what help the contractor understand which projects to pursue and which ones to ignore. They form the foundation of a Business Process Improvement Plan And Construction Business Stratety. The Titles commonly used for construction accounting and regular accounting is: Construction Accounting Titles = 233Regular Accounting Titles = 115 The list is intentionally short in order to make the point without being completely overwhelming. We Never Cease Being Amazed - When we find someone who is doing the Accounting for a contractor and other unrelated industries and treats the construction business like any other business. Example #1 - The contractor asks the bookkeeper "How much money did we make on the John and Mary Doe house remodel?" The bookkeeper generates a report showing $5,000 profit when in reality it was a ($15,000) loss! QuickBooks setup was done like every other Accounting business and $20,000 worth of transactions was put in the wrong category. In this case some direct costs and some indirect costs were misallocated and not assigned to the job. Example #2 - The contractor asks the bookkeeper "How much money did we make on the Bob and Sally house remodel?" The bookkeeper generates a report showing ($5,000) loss when in reality it earned$5,000 profit! QuickBooks was setup wrong and $10,000 worth of transactions was put into the wrong category. In this case some overhead costs were classified as direct costs and assigned to the job.The Inevitable Result Is - The contractor makes bad decisions on what to bid and not to bid on and eventually runs out of time and money. We welcome construction contractors and busy professionals in construction related fields to connect with Randal on social media sites and get to know us.If you would like more information your next step is to chat with Sharie on the phone, in person or both! I’m looking forward to meeting you on the phone or in person…..Sharie I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant

This Podcast Is Episode Number 0095 And It Will About Bad Bookkeeping Causes Contractors To Distrust Good Bookkeepers This podcast is being recorded in January 2015 and as of now; it is good to see construction moving again. It is based upon an article Sharie wrote and I, Randal will be reading it as she wrote it. Sharie as many of you know is the co-founder of Business Consulting and Accounting and its subsidiary Fast Easy Accounting and we specialize in Contractors Bookkeeping Services, mentoring and back office support for construction contractors and related companies all across the USA including Alaska and Hawaii. Sharie is a very nice, person who is easy to talk to and actually listens to you. We met in High School and married shortly after graduation in 1973. She has extensive experience as a tax accountant, co-owner of several of our construction companies including a mid-sized Plumbing firm with over 20 employees. We opened our contractor bookkeeping firm in 1991 and kept it small until we sold our last construction company in 2000 and put all our attention on helping contractors, homebuilders, trade contractors, handymen, and handywomen like you achieve your financial dreams. And yes, it all starts with good solid reliable financial and job costing reports. Good solid bookkeeping is the cornerstone upon which every profitable contracting company is built.  On to Sharie’s article which I will now share with you: “Our goal is to provide FREE Forms and content on our website so that you feel comfortable about WHO We Are and HOW We Help. You may not need our contractors bookkeeping services today, tomorrow, or next week but someday you may in fact need some help.How do I know……Because we have been around construction and contractors for a long time and the rule of thumb is once contractor, always a contractor. For instance Washington State Department of Labor and Industries identifies all contractors' status with one of the following: Active Expired Relicensed Suspended Out Of Business Construction Contractors Are Adaptable, they have an overriding goal to provide a good life for their family so they will adapt, change and do what’s necessary. It also takes a “Special Person” to be the spouse of construction contractor. As of the date of this article every general contractor doing residential remodels is excited for every new construction home builder who says "I have new houses to build and I am no longer interested in remodel work or handyman services". Most new construction contractors do not like residential remodels and handyman work. One of the most common phrases I hear is: "I’ll do it if I have to”. The same thing applies to remodel contractors doing service and repair. Decisions, Decisions, Decisions: The contractors we help are involved in one of three categories: Builders, Remodelers and Trade Contractors. What do you do? New, remodel or service and repair. There is a difference is between “What You Know How To Do” and “What You Want To Do”. As the economy picks up construction contractors are having more flexibility.  Some contractors who have been working for others instead of themselves are getting ready to get back into their own business. Are you a General Contractor or Specialty Trade Contractor with or Without Employees? Are you acting on behalf of the business owner as construction manager? After doing the field work how do you plan to do the bookkeeping?Social Media Has Replaced The Yellow Pages. How many of you even look at the Yellow Pages anymore? We all do things to avoid Spam and take preventive measures to avoid our e-mail being hacked and unfortunately the best of intentions may come across as something else to others. Our website www.FastEasyAccounting.com does not have any filters on our contact forms. We trust everyone to follow the spirit intended and give valid information. Rest assured we are careful and thoughtful about contacting you.  Please Contact Me* ƒBy E-Mailƒ By Phoneƒ Not Yet Some people in social media practice the “One Call Close” for your business. Please rest assured we do not work that way. Construction accounting services is about mutual trust and an ongoing long-term relationship. This is why when you call and ask: “How much does our service cost” I am going to ask questions to determine if we are a good fit. We Will Discuss: What you are doing or not doing? How and what do you to change? What are looking for? What are your short and long term goals? If you tell me “It’s none of your business” then we are not going to be a good fit and rather than argue with a person who is not listening I have known on rare occasions to quietly hang up because that person's business is working as well as it will ever be I am looking for a long term relationship with contractors who need help and have mutual respect.  Are you afraid I will talk to you or are you afraid I won’t talk to you?My Question to you is FEAR of past experiences ruling your business activities and ultimately your life? A common definition of F.E.A.R. is False Evidence Appearing Real. Accidents Happen: For example e-mail returns rejected by the server for the recipient domain.   Deliberate Act: Some people fill out forms deliberately using bogus information and give other people’s email addresses and phone numbers. I feel sorry for those people who feel the need to cause harm to others. FEAR OF Spam? Does your email have an auto-responder which says in effect "To control spam, I now allow incoming messages only from senders I have approved beforehand. If you would like to be added to my list of approved senders, please fill out the short request form (see link below). Once I approve you, I will receive your original message in my inbox. You do not need to resend your message. I apologize for this one-time inconvenience. Click the link below to fill out the request" What If I Am A Potential New Client? Whenever I get this type of message as a potential client or trying to respond to someone's inquiry for our services I generally move on and find someone whom we can help me or I can help as the case may be. Is Your Response To Twitter Requests – That you use a validation service. "To validate click here:" what you are saying to potential business is please go away and take your money with you! My perception is that social media is the new way to meet new people and form associations. It’s like grade school and one giant playground only difference is that it is easier for “Tall People” and “Short People” to connect outside their immediate neighborhoods and talk to each other. Not everyone will have the same ideas, thoughts and plans for the future and be your friend. And yet if just a few of them became “Associates” and “Long Term Profitable Clients” wouldn't that be fantastic! We welcome construction contractors and busy professionals in construction related fields to connect with Randal on social media sites and get to know us.If you would like more information your next step is to chat with Sharie on the phone, in person or both! I’m looking forward to meeting you on the phone or in person…..Sharie I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant

This Podcast Is Episode Number 0094 And It Will About QuickBooks Year End Closing Tips For Your Construction Company QuickBooks Makes Some Closing Entries Automatically Several years ago the accounting departments of smaller construction companies with less than $10M in annual sales had to slog through dozens of mind numbing General Journal Entries in order to "Close The Books". With QuickBooks that process is mostly automatic. There are still a few things the accounting department needs to do. The easiest method is to open QuickBooks and go to the help menu and click on the "Year End Guide". A QuickBooks Year-End Guide will pop-up and just be aware that it may vary depending on the version of QuickBooks you are using. When you click on a task with your mouse the help screen for that task pops up and guides you through the process which normally takes several hours depending on the amount of bookkeeping data in your QuickBooks file and how complex your construction accounting system is setup. Get Ready For The Tax Preparer Step-By-Step1.    Gather Receipts Into One Container2.    Review Personal Bank Statements - Business3.    Review Business Bank Statements – Personal4.    Reconcile Bank And Credit Card Accounts5.    Verify Petty Cash Entries6.    Invoice Unbilled Work7.    Money In (Accounts Receivable)8.    Inventory Count By December 31st9.    Fixed Assets Balance And Depreciation10.    Money Out (Accounts Payable)11.    Retirement Contributions - 401 (k), IRA, Etc.12.    Notes Payable, Loans, Mortgages, Credit Lines13.    Mileage Log / Each Vehicle / Business Use14.    W-9’s From Vendors & Contractors Over $60015.    Payroll Tax Deposits Match Quarterly Returns16.    Verify Profit And Loss - Does It Make Sense?17.    Back Up All Your QuickBooks Data Onsite And Offsite When Your Computer Crashes Your QuickBooks Data Is Gone Forever!We strongly recommend you have a basic disaster recovery plan in place. Step #1 back up QuickBooks onsiteStep #2 back up QuickBooks in the cloud If your QuickBooks is resting on our QuickBooks Desktop In The Cloud Intuit Approved QuickBooks Hosting service that has multiple backup procedures in place you do not need to back up again. We have prepared a PDF checklist you can download by clicking on the buttons below. There is nothing to fill out, simply click here and download it to your heart's content. We offer QuickBooks year-end closing services if you prefer not to do it yourself or rely on someone who only does it once a year and the prices are very reasonable. Going Forward Is QuickBooks Right For Your Construction Company? If you find that QuickBooks is not doing what you want it to do and not giving you the reports you want you may want to consider trying Xero Accounting Online. If you are starting a construction company, you could qualify to have us set up your company in Xero Accounting Online and give you 30 days of Xero Accounting Online FREE so you can find out if Xero Accounting Online is right for you! We offer both Xero and QuickBooks bookkeeping services for construction contractors and have found the dividing line is how you are paid. QuickBooks Works Best If You:1.    Take Job Deposits2.    Have Change Orders3.    Issue Multiple Invoices4.    Need Job Costing Reports5.    Need Payment Applications6.    Periodic Invoices For Bank draws7.    Need Complex Construction Accounting Reports Xero Accounting Online Works Best If You1.    Have Simple Jobs With One Invoice2.    Need Basic Key Performance Indicator Financial Reports I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We Remove Contractor's Unique Paperwork Frustrations We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant

This Podcast Is Episode Number 0093 And It Will Present Ten Keys To Hiring The Right Contractor Bookkeeping Service If You Own A Construction Company - Then you know Bookkeeping is one of those mundane, nasty, dirty, aggravating, grubby little chores somebody is going to get stuck with along with its rotten scoundrel cousin the Monthly / Quarterly Tax Returns. If You Have Employees - Whoa! Look out! Now you have to process payroll. In some cases you may decide it is better to provide cash advances to your employees if it helps them stay focused on the job and not on personal issues. Finally, there are all the quarterly payroll tax returns to be prepared and filed.Some Contractors - Decide their time is better-spent meeting prospective clients, putting together bids, managing jobsites and anything other than providing their own contractor bookkeeping services. So, they find someone else to do it and that is the subject of this article.Just Like There Are - Skilled construction workers and clowns trying to pass themselves off as skilled workers there are Professional Bookkeepers and clowns who are really only Bad Bookkeepers.You Know How To - Tell if someone knows what they are doing in construction because you have been doing it a while.You May Not Know - If you have a professional bookkeeper or a bad bookkeeper unless you have at least 10,000 hours of training in accounting and another 10,000 hours training in construction accounting so here are the top ten things to watch out for:Red Flag #1 Professionals Have A Real Office - Professionals in any field, doctors, lawyers, consultants and contractors bookkeeping services that cannot afford to maintain an office, even a small one room office, outside their home is in my opinion dangerous, dangerous, dangerous!The Ones Who Say - "I keep my overhead low" may as well be saying "Your records are available to any of my family, friends and neighbors to rummage through them because I am not the least bit concerned about your exposure to Identity theft or you competition getting a peek at what your construction company is all about."Red Flag #2 Professionals Do Not Work Alone - Because it is too easy to get sloppy and lazy when there is nobody else looking over his or her work. After a while, they develop a severe case of the stupids! Just like a hermit living in the mountains in a cabin, they go stir crazy.Red Flag #3 Professionals Accept Credit Cards - Wanna Bees don't and in a lot of cases it is because of bad credit score, business location, business setup, criminal record, (Perhaps involving embezzlement) and a whole lot of other reasons including the fact that it cost money to take credit and debit cards.The Ones Who Say - "It costs money to accept credit cards" ask them if they use credit cards ask yourself, "What are they really saying?"Fast Easy Accounting - Accepts all major credit and debit cards including Visa, MasterCard, Novus, Discover, American Express, Check Cards, Cash, Checks and Wire Transfer. And it does not cost you anything extra!Red Flag #4 Bad Bookkeeper - For a short list of Bad Bookkeeper Traits Click HereRed Flag #5 Time Billing Only - Professional Bookkeeping Services charge a flat monthly fee for services. Only someone who does not know what they are doing still charges by the hour.We Are Construction Accountants For Goodness Sake - Any bookkeeping or accounting firm that does not know how to calculate complex algorithms to allow for fluctuations in the workload and generate a monthly fee that is fair needs to go back to school and re-take courses on Decision Modeling, Statistical Analysis and Business Process Management.All Professional Contractor Bookkeeping Services - Have formulas for calculating fee structures. It is not rocket science: How many employees do you have? From that we know how much time and effort will be required to process payroll and do the tax reports What type of construction do you do? New house builder, residential or commercial remodel, service work, residential, commercial? From the number of employees and the type of work you do we know how much time and effort will be required to do all the bookkeeping, bank and vendor reconciliations and the rest because we have a System. Click Here To Learn About Our System Red Flag #6 All Businesses Welcome - Gone is the day of the person sitting at the desk with green eyeshades handling the books for all kinds of companies and industries. The complexities and speed of change in all industries means you need a firm that really understands your industry. If it is construction and you are based anywhere in the USA including Alaska and Hawaii we are your best choice.You Are Facing Fierce Competition - And it is getting worse. You need someone who specializes in your industry. If you are in the construction industry, we can help. If you are in the restaurant industry or anything other than construction, sorry, we are not your best choice. Red Flag #7 Your QuickBooks Is Hidden - Today more than ever you need to have access to your QuickBooks. Any bookkeeping service that cannot or will not allow you 24/7 access to your QuickBooks Desktop Version in a cloud based environment is doing you a disservice. If you do not want or need it that is O.K. too! But if you ever decide you want access to it that should be easy for them to provide.Red Flag #8 Annual Tax Return And Bookkeeping - Bad, Bad, Bad....I have written several articles on this subject and you can Click Here For The Best OneRed Flag #9 Unwilling To Collaborate - When your bookkeeper gets a bit uncomfortable about other people being involved and overseeing your financial records you have a BIG PROBLEM.We Advocate Trust-But-Verify - There are five people you need on your Board of Advisors and you are paying for their services anyway so you may as well take full advantage of them. They are there to help you.Red Flag #10 They Do Not Understand KPI - KPI is short for Key Performance Indicators also known as the Five Key Reports every contractor needs. Go to www.fasteasyaccounting.com/KPI to learn more about KPI Reports. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant

This Podcast Is Episode Number 0092 And It Will Be About Reducing Your Construction Company Start Up Stress We Are QuickBooks Experts Specializing In Construction New Contractor's Have horrendous Levels of Stress Did You Quit Your Job - And start your own construction company only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money? Now that can be stressful!Did You Ask A Friend Or Relative - To loan you some start-up capital and they agreed on condition you become equal partners in your construction company. The idea was you would do all the work they would get half the profits and you politely refused, or not? This is getting very stressfulDid You Go To Your Bank - And they offered to give you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% (more or less) and they can call the loan due if you ever miss a payment and take everything you own?. This is getting extremely stressfulDid You Use Your Personal Credit Cards - And supplier accounts to finance your new business and perhaps you were not careful about what you bought? What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that! But now that you are the boss you don't know where to start NOW THAT'S EXTREMELY PAINFUL STRESS!Are You Spending Time To Set Up - Your construction company properly so that it will save you grief, time, money and pay you dividends in the future? Or are you "Winging It"?Are You Taking Steps To Protect Yourself - With a Subchapter S-Corp (Sub S) to help protect your business and personal assets?Get Organized - We strongly recommend a Subchapter S-Corp for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice.Tax Advantages For LLC or a Sub S - If you do not setup your corporation correctly the profit or loss from your business will be passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; eliminate double taxation.Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague.Construction Bookkeeping Service - That understands construction is best when you start because they can setup QuickBooks correctly in the beginning for your construction company and take care of the accounting until you are ready to take over.Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week.Never Ever Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation.Put Money In And Take Money Out - Of your business is O.K. if it is done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Understand When A Transaction Is Income - And when it is not incomeInsurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs.Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations.Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email [email protected] Bonds - If you are doing public sector work, you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds.Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank.Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own construction bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your construction accounting.Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or use a software estimating program like UDA.Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application.Do Not Offer Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. Follow McDonald's restaurant model: Step #1 Customer places order, Step #2 Customer pays, Step #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money.Marketing | Accounting | Production M.A.P. - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your construction company's Strengths, Weaknesses, Opportunities and Threats? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Year Over Year In Any Economy One Thing Never Changes20% Of The Contractors Earn And Keep 80% Of The ProfitsThey Have A Business Process Management StrategyTo Know Where To Focus Their Limited Resources   The 80/20 Rule Combined With Business Process ManagementCan Improve Your Life In Ways You Never Dreamed Possible!Fast Easy Accounting  The 80 20 Rule For Construction   Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well.Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will LearnThe Easy Way OrThe Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect itThe Contract Screwing - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again.That Is Not What Happens This Is What Usually Happens:Poorly defined scopes of work create claims and disputes.The completion schedule is too short and exposes you to monetary damages for failure to finish on time.Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24%The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project.Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence.Indemnity clauses could make you pay the customer's attorney fees and costs.Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits.Oftentimes the term and coverage of the warranty is beyond normal industry standards.Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes.The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project.Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand.Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor.  The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion.Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king!Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project. Three types of indemnities: Broad Form:  A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence.  The 100% indemnity.Intermediate Form:  An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence.  The 99.9% indemnity.Limited Form:  A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE!Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc.  Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose.Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful.Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Finally Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Fill out the form on the right or call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0091 And It Will Be About Local Vs. Cloud Based Contractor Bookkeeping Services One of the biggest concerns contractors have about outsourcing their contractors bookkeeping to a cloud based contractor accounting service like ours is they think it means sending jobs off-shore rather than keeping your dollars in America where they can help other Americans. In too many cases that is exactly what occurs. Understanding the differences between Outsourced, Offshore and Freelance Bookkeepers is the key. Outsourced Contractor Bookkeeping Services Like Us Have Pros And Cons: Pros1. We offer Flat Rate pricing, no surprises, no heartache, no regrets, no long term contracts, month to month, cancel anytime because we are paid for results not efforts 2. We specialize in construction accounting and working with contractors across the USA including Alaska and Hawaii 3. All work is done in our commercial office in Lynnwood Washington which is open to the public 4. We care about contractors who want long term relationships and we will always "go the extra mile" 5. We operate as a fully functional team with multiple skill levels to handle any construction accounting issue 6. Nobody takes work home or out of the office for any reason in order to keep your records confidential 7. Everyone working on your contractors bookkeeping here has real world field experience working on construction sites 8. Our construction bookkeepers and construction accountants have a minimum of 10,000 hours of practice in construction accounting 9. Your QuickBooks For Contractors desktop version is available online 24/7/365 10. Live phone support is available support during normal business hours 11. Your QuickBooks is backed up every night on secured servers 12. Our staff is fully trained, supported and we provided continuing education programs 13. We have QuickBooks setup templates to accommodate over 100 different types of contractors and can custom build for over 10,000 combinations 14. With hundreds of construction company clients we have unique insights to share with you what successful contractors do that makes them money 15. We have a fully functional tested and working contractors bookkeeping services system Cons1. We are not the low price leader 2. We are not a good fit for contractors who like to control everything 3. We are not a good fit If all of your construction company contracts exceed $100,000 or if you have more than $10M in annual sales 4. We are not good "negotiators" and do not tolerate anybody who takes pride in "grinding down" their suppliers and trusted advisors Off-Shore Accountants Have Pros And Cons: Pros 1. Offshore bookkeepers have better training than most American freelance bookkeepers2. They work cheap Cons 1. Language barrier can be very frustrating to contractors like you 2. Possible identity theft because the weakness of international laws 3. Transactions put into the wrong account can distort all your Job Costing Reports including the Profit and Loss By Job Report 4. Forget trying to train them on construction accounting in a way that works for your particular contracting company Local Free Lance Bookkeepers Have Pros And Cons: Pros 1. They may come to your office 2. They work cheap Cons 1. They typically work by the hour because they have no bookkeeping system and expect to paid for efforts, not results 2. They work alone and therefore have little or no support staff to help with low level administrative duties 3. They spend very little time and money on initial training let alone paying for continuing education 4. They typically serve every business and industry on the planet because they cannot afford to turn business away 5. They do not understand construction or construction accounting which can be very frustrating to contractors like you 6. Working from home means your sensitive financial records are at risk of being reviewed by your competitors 7. Possible identity theft because the weakness of internal controls 8. Transactions put into the wrong account can distort all your Job Costing Reports including the Profit and Loss By Job Report 9. Forget trying to train them on construction accounting in a way that works for your particular contracting company All three groups have Pros and Cons and it is up to you to decide what is best for your construction contracting company. Listed below are just a few of the construction company types we serve:      Brand New Construction Companies    Handyman Contractors       Cabinet Installers    Handywoman Contractors       Carpentry Construction Companies    HVAC Contractors       Carpet Installers    Insulation Contractors       Commercial Tenant Improvement Contractors    Interior Designers       Concrete Contractors    Land Development Contractors       Construction Companies    Landscape Contractors       Construction Managers    Masonry Contractors       Contracting Companies    Mold Remediation Companies       Contractors    Moss Removal Companies       Custom Deck Contractors    Painting Contractors       Custom Home Builders    Plumbing Contractors       Demolition Contractors    Pressure Washing Companies       Drywall Contractors    Remodel Contractors       Electrical Contractors    Renovation Contractors       Emerging Contractors    Restoration Contractors       Excavation Contractors    Roofing Contractors       Finish Millwork Contractors    Spec Home Builders       Flipper House Contractors    Specialty Contractors       Flooring Contractors    Subcontractors       Framing Contractors    Sub-Contractors       General Contractors    Trade Contractors       Glass Installation Contractors    Underground Contractors       Gutter Installation Contractors    Utility Contractors I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} This Podcast Is Episode Number 0090 And It Will Be About Does QuickBooks Frustrate Your Construction Company? Does QuickBooks Frustrate You? If You Answered "Yes" You Are Not Alone! 99.99% of all QuickBooks Issues can be traced back to two root causes: 1.    How QuickBooks setup was done originally2.    How transactions are put into QuickBooks QuickBooks Makes Construction Accounting Look Simple As Microwaving Popcorn How many advertisements have you seen by Intuit, the maker of QuickBooks that makes it appear like accounting is so simple a five year old can do it. The truth is Intuit is a sales and marketing firm that sells and markets software. And QuickBooks is one of the big winners for them because it has removed a lot of the pain associated with accounting; but it is still accounting and certain principles still apply. For example "Debits" are on the left and when they are not we give them "Credit". When you write a check in QuickBooks you can impact up to 27 different tables and hundreds of reports which means in the end there are thousands of things that can go wrong. Even those of us with a deep background in accounting have known for years there are several things QuickBooks allows users to do which can lead them down harmful paths. One of the worst ideas ever in the history of QuickBooks is putting your bank and credit card account numbers inside QuickBooks. I suspect this was done in response to users asking for it. Don’t assume that QuickBooks will keep an uninformed bookkeeper or user for making mistakes and don't assume it will stop your from doing something that will cause financial harm to your construction company because it WON'T! Understand that QuickBooks is just a tool like a hammer is a tool and hammers do not know which nail to drive into which piece of wood. The problem is that bookkeeper not trained in construction accounting don’t know which nails to drive where inside QuickBooks so they just start “hammering” and causing untold damage. What happens too often is they open the box, load the program, and start using it without help or guidance. This works fine for small phone apps, games and programs, like Publisher because if you make a mistake in Publisher the damage is limited to only one file. You can see and immediately correct your mistake and it doesn't impact your taxes, job costing reports, obtaining a loan, or running your construction company! But if you or your contractors bookkeeper makes mistakes in your QuickBooks for Contractors file it might be months or years before anyone finds it and only then if they know what to look for in the financial and job costing reports to know if they are seriously wrong. Did someone setup QuickBooks by trying to follow the built in in template inside QuickBooks and you figured out you cannot get any of the financial and job costing reports you need to operate and grow your construction company? Proper QuickBooks Setup Is Your Treasure Map The Chart of Accounts Is The Foundation Of Your QuickBooks Setup - And if your QuickBooks setup was done by a QuickBooks Expert in construction accounting and maintained correctly you are riding high and living well! If not, we can fix just about any QuickBooks setup by performing a QuickBooks cleanup and importing all of the transactions into a fresh QuickBooks file that we have customized just for your construction company. We Perform QuickBooks Setup - Since we are QuickBooks experts in construction accounting and we work specifically for contractors on whatever year and version of QuickBooks you own. We have worked with QuickBooks since it first arrived in the early 1990's in DOS. Having used a number of accounting programs over the years we believe when your QuickBooks setup is done correctly is the best, hands down, no contest!  For the construction trades the tiny amount of money difference between QuickBooks Pro and QuickBooks Premier Contractor Edition is worth the investment for the additional a Contractor Reports alone. Upgrading every year is a “no brainer” because of all the new features and if a contractor’s construction accounting staff only saves only 10 minutes a day the savings will more than pay for the program.Starting in 1991 we invested ten years to develop several customized QuickBooks setup templates and there have been thousands of improvements since then. We have QuickBooks setup templates for all of Construction Contractors shown below and more...  Brand New Construction Companies    Handyman Contractors       Cabinet Installers    Handywoman Contractors       Carpentry Construction Companies    HVAC Contractors       Carpet Installers    Insulation Contractors       Commercial Tenant Improvement Contractors    Interior Designers        Concrete Contractors     Land Development Contractors       Construction Companies    Landscape Contractors        Construction Managers     Masonry Contractors        Contracting Companies    Mold Remediation Companies       Contractors    Moss Removal Companies       Custom Deck Contractors    Painting Contractors        Custom Home Builders    Plumbing Contractors        Demolition Contractors     Pressure Washing Companies       Drywall Contractors     Remodel Contractors       Electrical Contractors     Renovation Contractors        Emerging Contractors    Restoration Contractors        Excavation Contractors     Roofing Contractors        Finish Millwork Contractors    Spec Home Builders       Flipper House Contractors    Specialty Contractors       Flooring Contractors    Subcontractors       Framing Contractors     Sub-Contractors       General Contractors     Trade Contractors       Glass Installation Contractors    Underground Contractors       Gutter Installation Contractors    Utility Contractors      Our QuickBooks Setup For Construction Company Contractors Includes: ·    User Permissions and limits·    Company Information Window with EIN and contact·    Chart of Accounts Direct Construction Costs·    Chart of Accounts Indirect Construction Costs·    Chart of Accounts Work-In-Progress For Land Developers·    Chart of Accounts Work-In-Progress For Land Development Into Lots·    Chart of Accounts Work-In-Progress For Spec Builders·    Chart of Accounts Work-In-Progress For Spec Home Into Rentals·    Chart of Accounts Over Billings For Earned Value Reports·    Chart of Accounts Under Billings For Earned Value Reports·    Chart of Accounts Retention From Your Customers·    Chart of Accounts Retention For Your Subcontractors·    Chart of Accounts Job Deposits From Your Customers·    Chart of Accounts Indirect Construction Costs·    Chart of Accounts Prepaid Expenses·    Chart of Accounts Job Deposits·    Chart of Accounts Fixed Assets·    Chart of Accounts Depreciation·    Chart of Accounts Intercompany Transfers·    Chart of Accounts Payroll·    Chart of Accounts Payroll Taxes·    Chart of Accounts Payroll Tax Liabilities·    Chart of Accounts Customer Discounts·    Chart of Accounts Bad Debts·    Chart of Accounts Customer Checks Returned From Bank·    Chart of Accounts Employee Loans And Repayments·    Chart of Accounts Jobsite Costs·    Chart of Accounts Warranty Work·    Chart of Accounts Sales Tax Errors·    Chart of Accounts Mobilization·    Chart of Accounts De-Mobilization·    Chart of Accounts Leases·    Chart of Accounts Purchases·    Chart of Accounts Marketing·    Chart of Accounts Advertising·    Chart of Accounts Owner Loans And Repayments·    Chart of Accounts Special Accounts For Sole Proprietors·    Chart of Accounts Special Accounts For LLC Corporations·    Chart of Accounts Special Accounts For Sub-S Corporations·    Chart of Accounts Special Accounts For Partnerships·    Chart of Accounts Special Accounts For LLP Limited Partnerships·    Chart of Accounts Special Accounts Flipper Houses·    Chart of Accounts Credit Cards·    Chart of Accounts Lines Of Credit·    Chart of Accounts Short Term Loans·    Chart of Accounts Long Term Loans·    Chart of Accounts Spec House Construction Loans·    Chart of Accounts Land Development Construction Loans·    Chart of Accounts General And Administrative·    Chart of Accounts Occupancy Costs·    Chart of Accounts Triple Net Leasing Costs·    Chart of Accounts Technology·    Chart of Accounts Professional Fees·    Chart of Accounts Taxes·    Chart of Accounts Licenses·    Chart of Accounts Insurance Builders Risk.·    Chart of Accounts Insurance Vehicles·    Chart of Accounts Insurance Liability·    Chart of Accounts Insurance Health And Dental·    Chart of Accounts Financing Costs·    Chart of Accounts Interest Earned·    Chart of Accounts Gain And Loss On Fixed Assets·    Chart of Accounts Estimates·    Chart of Accounts Sales Orders·    Chart of Accounts Purchase Orders·    Item List Direct Construction Costs·    Item List Indirect Construction Costs·    Item List Construction Job Deposit·    Item List Construction Labor Costs·    Item List Construction Material Costs·    Item List Construction Other Costs·    Item List Construction Subcontractors Costs·    Item List CSI Codes For Commercial Construction·    Item List Bid Bond Deposits·    Item List Sales Tax For Cities (Updated When It Changes)·    Item List Sales Tax For Counties (Updated When It Changes)·    Item List Sales Tax For State (Updated When It Changes)·    Item List Land Developers Direct Costs·    Item List Land Developers Indirect Costs·    Item List Spec Home Builders Direct Costs·    Item List Spec Home Builders Indirect Costs·    Item List Retention Held By Customers·    Item List Retention Holding For Subcontractors·    Item List Work-In-Progress Costs For Land Developers·    Item List Work-In-Progress Transfer Costs For Land Developers·    Item List HUD-1 Statement Transfer Costs For Land Developers·    Item List Work-In-Progress Costs For Spec Home Builders·    Item List Work-In-Progress Transfer Costs For Spec Home Builders·    Item List HUD-1 Statement Transfer Costs For Spec Home Builders·    Item List Work-In-Process Transfer Costs For Spec Home Builders·    Retention Tracking For Your Customers And Trade / Subcontractors·    Payroll For Your Employees·    Payroll Sick Days·    Payroll Vacation Days·    Payroll Loans Setup And Tracking·    Payroll Loan Repayment Setup And Tracking·    Payroll Reimbursement Setup And Tracking·    Payroll Garnishment Setup And Tracking·    Payroll Child Support Setup And Tracking·    Payroll Tax Table·    Owners Time To Job For Job Costing Without Affecting Financial Report·    Preferences In 23 Categories Each One With Multiple Decision Points·    Price Level List·    Billing Rate List·    Sales Tax Code List·    Other Names List·    Customer Profile List·    Vendor Profile List·    Templates List·    Memorized Transaction List·    Memorized Reports List·    QuickBooks Automatic Backup On Remote Server·    All Expenses And Costs Recorded In Chart of Accounts, Not Items·    All Work In Process Recorded in Chart of Accounts, Not Items·    Retention Hold By Your Customers·    Retention Hold For Subcontractors·    Job Deposits From Customers·    Employee Type Tracking - Field·    Employee Type Tracking - Admin·    Employee Type Tracking - Sales·    Employee Type Tracking - Operations·    Employee Type Tracking - Officers·    Employee Loans - Field·    Employee Loans - Admin·    Employee Loans - Sales·    Employee Loans - Operations·    Employee Reimbursements - Field·    Employee Reimbursements - Admin·    Employee Reimbursements - Operations·    Employee Reimbursements - Sales·    Employee Reimbursements - Officers·    Payroll Preparation - Field·    Payroll Preparation - Admin·    Payroll Preparation - Sales·    Payroll Preparation - Operations·    Payroll Preparation - Officers·    Payroll Tax Reporting – 941·    Payroll Tax Reporting - 940·    Payroll Tax Reporting - 940·    Payroll Tax Reporting - W-2·    Payroll Tax Reporting - W-3·    Insurance Audit Reporting·    Insurance Audit Support (Business Consulting And Accounting Office)·    Bank Reconciliations·    Credit Card Reconciliations·    Business And Occupation Tax Reporting - Monthly·    Business And Occupation Tax Reporting - Quarterly·    Business And Occupation Tax Reporting - Annually·    Sales Tax Reporting - Monthly·    Sales Tax Reporting - Quarterly·    Sales Tax Reporting - Annually·    Petty Cash Register·    Fixed Asset Tracking·    Monthly Depreciation Transactions·    Intercompany Transfers·    Security Deposits Tracking·    Loan To Shareholders / LLC Members / Partners·    Cost of Goods Sold - Direct Costs·    Cost of Goods Sold - Indirect Costs·    Your company Schedule of Values·    Prevailing Wage Reports·    Work-In-Process Reporting·    Tool Lease Tracking·    Vehicle Lease Tracking·    Equipment Lease Tracking·    Schedule of Values For Job Costing·    QuickBooks Default Schedule of Values·    Fixed List Of Your company Schedule of Values·    Your company Schedule of Values For Each Project·    Construction Specification Institute 16 Basic Cost Codes·    Heavy Equipment Allocation·    Occupancy Expense - Office·    Occupancy Expense - Shop·    Marketing Cost Tracking By Chart of Accounts·    Vehicle Costs – Admin / Sales / Operations / Officer·    Other Income Tracking·    Other Expense Tracking·    Investment Property Tracking·    Upload Documents To Inbox·    Read, Print And E-Mail Documents·    24/7 Access To Web Based Online Financial Reports·    Paperless Server Vault Options·    Web Based Reports·    Excel Based Payment Applications Our QuickBooks setup process for a construction company like yours may require more or less than what I am showing here and for some of you this was too much information. Our construction company clients offer a lot of feedback regarding what they would like their QuickBooks contractor to do and we listen to each and every request and look for ways to add those enhancements and more. On average each QuickBooks setup template will have 50 enhancements a year. We test them on our server and when they are proven to work we manually update each and every client that has their QuickBooks contractor file on our server. And then we test each update on every client QuickBooks contractor file to make certain it will work. Most of the time our clients do not even know when a template update happened, they just know it works a little bit better and something that was a problem no longer is a problem. The one BIG PROBLEM we caution you about is be careful when you tell another contractor about all the reports and how Fast And Easy your QuickBooks contractor works because in most cases they will not believe you. It is the difference between QuickBooks setup the easy way and QuickBooks setup the hard way!QuickBooks Setup - By a QuickBooks expert in construction accounting to work specifically for contractors on whatever year and version of QuickBooks you own because we have worked with QuickBooks since it first arrived in the early 1990's in DOS. Which QuickBooks Edition - Is right for you? It depends on your annual sales volume and what QuickBooks Reports you want to have.QuickBooks Pro - Works well for all contractors with less than $250,000 annual volume because yourQuickBooks Reporting needs are not great.QuickBooks Premier Contractor - Is what we recommend for contractors with more than $250,000 annual volume currently or projected in the next 12 months. The difference in cost is very small compared to the potential value.The Most Important - Part of QuickBooks Setup for contractors is having a QuickBooks expert with a deep background in construction accounting who understands what your particular construction company needs. Among other things you need a fast and easy way to monitor the financial health of your construction company. QuickBooks Premier Contractors Edition provides a running scorecard of Key Performance Reports and when used with Business Process Management Tools like what 10 minutes of waste costs their company. Five Types Of Construction Firms Need QuickBooks Setup On Premier Contractor Edition:New Construction Speculative - Land developers, home builders and light commercial builders. These are the contractors who build something in hopes a buyer will emerge during or shortly after the building is built and they need QuickBooks setup so that it will:1.    Your QuickBooks setup is put together so you can track all your construction and overhead costs and generate Bank Draws and Work-In-Progress (WIP) reports against budgeted estimates to monitor progress.2.    Your QuickBooks setup for your Chart of Accounts needs to be focused WIP Assets with a few Cost of Goods Sold Accounts (COGS) to allocate the sale of the building3.    Your QuickBooks expert can setup the Five Key Performance Indicators (KPI) to monitor the financial health of the business4.    You need between 200 and 6,000 Items setup to track all the costs of the construction process from the ground up through the roof and final cleanup5.    This is the most difficult QuickBooks Premier Contractor Edition to setup because there is a mix of Direct, Indirect, WIP and COGS accounts6.    The day to day input is also the most difficult and needs to be handled by accounting staff with specialized training in construction accounting7.    You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs8.    Your income can be sporadic and extremely sensitive to the ups and downs of the new construction market which is why you need a strategy with an external focus on the global housing market. 9.    In order for your Spec Builder Company to reach its full potential you will need an overall strategy including a Business Plan for Contractors10.    We believe a lot of speculative builders go bankrupt because they do not have accurate reports to base decisions on and that is as direct result of trying to save money with Cheap Bookkeeping New Construction Custom - Builders of residential and light commercial buildings have special QuickBooks setup needs:1.    You use QuickBooks to track all the costs and generate Complex Payment Applications, Item Estimates vs. Actuals, Job Profitability Summary and Job Profitability Detail Reports to monitor progress2.    Your QuickBooks setup for the Chart of Accounts has a lot of Goods Sold Accounts (COGS) to allocate project costs3.    Your QuickBooks expert can setup the Five Key Performance Indicators (KPI) to monitor the financial health of the business4.    You will have between 500 to 2,500 Items setup to track all the costs of the construction process from the ground up through the roof and final cleanup5.    This is the second most difficult QuickBooks setup is Premier Contractor Edition because there is a mix of Direct, Indirect, COGS and only a few WIP accounts6.    The day to day accounting and bookkeeping input is the second most difficult and to be done properly requires accounting staff with specialized training in construction accounting7.    You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs8.    Our experience has been your group generates a relatively unstable income and is somewhat sensitive to the ups and downs of the new construction custom built market9.    In order for your Custom Home Building Company to reach its full potential you need a Construction Business Strategy including a Business Plan for Contractors10.    We believe a lot of custom builders go bankrupt because they do not have accurate reports to base decisions on and that is as direct result of trying to save money with Cheap Bookkeeping Remodel - Residential And Light Commercial Tenant Improvement Contractors QuickBooks Setup:1.    You use QuickBooks to track all the costs and generate Complex Payment Applications Item Estimates vs. Actuals, Job Profitability Summary and Job Profitability Detail Reports to monitor progress2.    Your Chart of Accounts is focused Goods Sold Accounts (COGS) to allocate project costs3.    You need the Five Key Performance Indicators (KPI) to monitor the financial health of the business4.    Your QuickBooks setup will need 1,000 to 5,000 Items setup to track all the costs of the construction process from beginning to end in order to get the reports you need5.    This is the third most difficult QuickBooks setup in Premier Contractor Edition because there is a mix of Direct, Indirect, COGS and only a few WIP accounts6.    The day to day input is also the second most difficult and to be done properly requires accounting staff with specialized training in construction accounting7.    You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs8.    Our experience has been your group generates a stable income and is not as sensitive to the ups and downs of the new construction market9.    In order for you to reach their full potential of your business you will need an overall strategy including a Business Plan for Contractors10.    And of course Cheap Bookkeeping is the one area where short term savings is overwhelmed by making bad decisions based upon inaccurate QuickBooks reports Trade contractors - QuickBooks Setup For Plumbers, Electricians, HVAC, Flooring, Sheetrock, Painters, Landscapers and others:1.    You use QuickBooks to track all the costs and generate Simple Invoices which can then be input into QuickBooks Premier Contractor Edition2.    Your QuickBooks setup for the Chart of Accounts is usually focused Goods Sold Accounts (COGS) to allocate project costs3.    You will need to pay close attention to the Five Key Performance Indicators (KPI) to monitor the financial health of the business because your sales cycle is so short4.    You will need 500 to 2,500 Items in your QuickBooks setup to track all the costs of the construction process from beginning to end5.    This is the fourth most difficult QuickBooks setup is the Premier Contractor Edition because there is a mix of Direct, Indirect, COGS accounts6.    You day to day input is also the third most difficult and to be done properly requires accounting staff with specialized training in construction accounting7.    You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs8.    Our experience has been your group generates the most stable income and you are not as sensitive to the ups and downs of the new construction market9.    In order to reach their full potential of your Trade Construction Business you will need an overall strategy including a Business Plan for Contractors10.    And of course Cheap Bookkeeping is the one area where short term savings is overwhelmed by making bad decisions based upon inaccurate QuickBooks reports Service and Repair - QuickBooks setup for companies like drain cleaners, emergency service electricians and others:1.    You use QuickBooks setup needs to be able to track all the costs and generate Simple Invoices which can then be input into QuickBooks Premier Contractor Edition2.    Your QuickBooks setup for the Chart of Accounts is usually focused Goods Sold Accounts (COGS) to allocate project costs3.    You will need to closely monitor the daily changes in the Five Key Performance Indicators (KPI) to understand the financial health of your business4.    Your QuickBooks setup will need between 500 to 2,500 Items setup to track all the costs of the construction process from beginning to end5.    This is the fourth most difficult QuickBooks setup for Premier Contractor Edition because there is a mix of Direct, Indirect, COGS accounts6.    The day to day input is also the third most difficult and to be done properly requires accounting staff with specialized training in construction accounting7.    You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs8.    Our experience has been your generates a very stable income because you are not as sensitive to the ups and downs of the new construction market9.    In order to reach your full business potential you need an strategy including a Business Plan for Contractors10.    And of course Cheap Bookkeeping is the one area where short term savings is overwhelmed by making bad decisions based upon inaccurate QuickBooks reports I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations  

This Podcast Is Episode Number 0089 Interview Of Dan Perry Founder Of HandymanStartup.com The Following Is An Outline From Dan Perry's Guest Appearance On The Contractors Success M.A.P. Podcast which you can listen to below. It is on iTunes, Stitcher Radio, Pocket Casts and all popular podcast directories. Dan Perry is the founder of HandymanStartup.com - a community dedicated to helping handymen, plumbers, electricians, and contractors understand business and marketing so they can get more customers, make more money, and enjoy their businesses. Connect with him at www.handymanstartup.com or on twitter @bigdhandyman. Dan, please tell us about your background and how you came to be where you are now.Originally from a small town, I went to college in Reno, NV with no idea what I wanted to do. I decided to major in Mechanical Engineering because I didn’t know any better.  I graduated, got a job in Engineering, and hated it.  I worked there for 3.5 years before I finally quit without a plan or job.  6 months later I decided to start my own handyman business, despite not having many skills or much business knowledge. During the process, I shared my story, struggles, and lessons learned on HandymanStartup.com.  I gained a really solid following and although I still run my own handyman business, my main focus is helping people in the trades to get more customers, make more money, and enjoy their businesses.  My online marketing was the key to my success as a handyman and it’s also a large portion of what I teach on HandymanStartup.com.What are some differences between you and your competitors?I’m sharing what I learn in real time so my content is very relevant.  Also, I’m sharing these lessons as I learn them which allows me a unique perspective of having a student and teacher perspective at the same time.What problem or issue does your product or service solve?Handymen struggle to get started and fill their schedule with quality clients.  I teach them a step by step system to follow to generate their own leads with The Handyman Web Academy.What are three things a contractor should consider when hiring your services?Do they want to start a handyman business?  Do they enjoy small repair jobs?  Are they good with people? How can you tell if someone is a good fit for your company?They own (or want to own) a handyman business and are willing to work hard to create a more profitable and enjoyable business.  What types of advice do you give a contractor? Focus on getting quality customers over quantity Only take jobs that are worth your time Your service is an experience, not just a commodity In closing, tell us about the services and how listeners can contact you.I offer a ton of free content on HandymanStartup.com and through my podcast which can be found in iTunes.  I offer a paid course called the Handyman Web Academy which is my online marketing system broken down into step by step video training.  http://www.handymanstartup.com/To contact Dan Perry go to HandymanStartup.com or on Twitter @bigdhandyman. Editor’s Note: I have known Dan Perry since mid 2014 and I trust him and find him to be very knowledgeable and capable on the subject owning, operating and growing a Handyman Company as well as a skilled marketing expert for all Contractors.I Highly Recommend all contractors spend some time on his website HandymanStartup.com and get to know him. If you are a handyman looking to grow your company Dan is someone you need to connect with and you can start by signing up for his newsletter. Please be sure to let him know Randal DeHart, The Contractors Accountant, recommended you. That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0088 And Will Be About How Business Process Management Strategy Can Benefit Your Construction Company Developing A Comprehensive Strategy - For your construction, company can be about as much fun as wrestling a pig in the mud because: It is a slippery and hard to get control over it It will wear you out and frustrate you to no end You will swear it is a complete waste of time Your contractor buddies barely making a living will think you're crazy In the end you will be thoroughly worn out, exhausted and mentally drained If You Are One - Of the few contractors that starts doing it your eyes will be opened to new possibilities and you will catch a glimpse of how and why some contractors become very wealthy and others never get beyond owning a job they cannot leave and nobody wants to buy. A Few Contractors - And you may be among them will do whatever it takes to rise above owning a job and develop a construction company that will provide for themselves and their families for a lifetime and use it to develop an estate to pass on their heirs. This article is for you! BPM - Business Process Management Strategy Large Profitable Construction - Companies have known about and used some form of BPM for hundreds of years. During the past 100+ years colleges and universities have pumped business majors with in depth understanding of how BPM works and the good ones that actually paid attention, did the homework and understood the system have been scooped up and hidden away inside the financial and project management offices of these same large profitable construction firms. Some Business Majors - Have attempted to use their knowledge of BPM to help small construction companies and failed miserably because the business majors and the construction company owners do not understand each other's world.  Every Once In A While - Someone with this knowledge breaks out of the pack and uses the knowledge to become a contractor and in most cases they are very successful and become very wealthy. On Very Rare Occasions - One of them who have spent time as a contractor will turn their attention to the art and science of Construction Bookkeeping And Accounting and share it with his fellow contractors. I am that person, The Contractors Accountant Randal DeHart. BPM Has Many Names - Phrases and words to describe it and the simplest one is the one we at Business Consulting And Accounting came up with: "Use Your M.A.P. To Find The Treasure.Marketing Is The Foundation - Because nothing happens until somebody buys something. All successful contractors know people are buying construction products and services by visiting Home Depot, Lowes, lumber yards, plumbing and electrical supply houses and seeing construction company trucks and vans on the highway. The only question they ask themselves is who are those people that are buying construction services and how can we be at the right place, at the right time, with the right message when they begin their search for a contractor. Accounting Is The Scorecard - In your Construction Company. It tells you what is working and you should do more of to make more money and what is not working which is what you should do less of to make more money. Construction accounting is the center of your construction business; pay attention to what it says and it can make you wealthy. The value in your bookkeeping is in the accuracy of the reports. You can hire a Cheap/Bad Bookkeeper and get garbage reports to base business decisions upon or you can outsource your construction bookkeeping and accounting to a professional service with a mentoring program for contractors like you with a systematic approach to construction accounting that allows you to access QuickBooks anywhere you have an internet connection so that you can monitor your Key Performance Indicators which is your daily scorecard. Production Is Where - The rubber meets the road or if you please this is where all the planning and support structure pays off. There are two main ways to do this part. You can run your construction company like a Police Officer directing traffic with a Strategic Management System OR You can run your construction company with a Fire Fighter mentality putting out fires that could have been prevented I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} This Podcast Is Episode Number 0087 And Will Be About Which Costs Your Contracting Company More Money Bookkeeper Theft or Incompetence? Bookkeeper Incompetence - No Question About It! The Little Leaks Sink The Ship - Whenever a disaster hits your company, like Bookkeeper Theft it gets your attention real fast and you tend to jump on it with both feet and fix it! However it is the little leaks caused by bookkeeper incompetence or even worse Bad Bookkeepers that will destroy you company. The Top Ten Incompetent Bookkeeper Habits That Can Destroy Your Business:1. Not sending Invoices and Statements to your customers and clients2. Not collecting money your customers and clients in a timely fashion3. Fines and penalties when they fail to get tax reports filed on time4. Late fees, and interest charges from not paying the bills on time5. Not taking discounts from suppliers for paying by the 10th of the month6. Not tracking loans to employees and being sure the company is paid back7. Bookkeeper stretching work and projects to fill time8. Not reconciling all Bank and credit card accounts every month looking for errors9. Not reconciling all vendor charge accounts every month looking for errors10. Not watching for phishing scams and bills from non-existent Re-Billers That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0086 And Will Be About The Twelve Warning Signs You Hired The Wrong Contractor Bookkeeping Service My Previous Accountant Never Could Understand My Business! If you are a contractor, you know what to look for when you need to hire skilled construction workers. The longer you have been in construction the more experience you have including a sixth sense about who is likely to be a good fit for your team and who is not. You can spot wanna-bees, clowns, and firebrands in an instant, and you know that if you are thinking about firing someone; you are already fifteen minutes too late! 99.99% of Construction is "Tangible" which means you can judge it using your five senses. You can See, Hear, Touch, Smell and Taste it and you know when it is good or bad. 99.99% of construction accounting is "Not-Tangible" including financing, taxes, payroll processing, payment applications, financial statements, cash management which means you may have to rely on your gut-feeling to know when someone perhaps is not a good fit. I have a deep background both in construction, having owned and operated successful construction companies andconstruction accounting.Just so we are clear, if you suspect I want the opportunity to work with you, you are 100% right! But, I know what you need is proof that I know what I am doing so let me condense several decades of experience into these twelve warning signs you hired the wrong contractor bookkeeping service. If none of these twelve warning signs applies, you do not need me; however, I trust you will still find value in our website, other publications that host my articles, YouTube videos, Linked In, Google+ and dozens of other social media sites. Warning Sign #01Your contractors bookkeeping services is not a contractors bookkeeping services firm. They are general bookkeepers who accept all types of businesses and cannot do right by any of them because nobody can keep track of all the subtle differences and nuances of multiple industries let alone the specialties within a given industry. In the construction industry, they are known as a "Jack of all Trades and Master of None". Chances are they are very cheap, just like buying "cheap tools". Every successful contractor knows "cheap tools" are the most expensive ones in the short-run and worse in the long run. Cheap tools and cheap bookkeepers appear to be a real bargain, until you use them for a short while and discover how expensive they really are. That is when the costs start adding up and you suddenly realize you need to replace them with someone who understands construction, knows what they are doing, has a contractors accounting and bookkeeping system, software, hardware, infrastructure and staff that are trained in construction accounting so they know how to provide the contractors accounting and bookkeeping services you need. Warning Sign #02Your contractors bookkeeping services firm is defensive or argumentative when you ask for a flat-rate cost for all your contractor bookkeeping services needs.There are situations when a contractor is better served with a flexible rate schedule including pre-determined hourly rates depending on the skill level required, but only if there are complex construction accounting needs or if the construction company owner and/or managers want direct command and control of the contractor bookkeeping services. We can serve 99.99% of construction and contracting companies in the USA including Alaska and Hawaii with annual sales volume from $0 start up to $5,000,000 with a flat rate weekly or monthly fee that does not change unless your needs change. Our construction accounting services system takes the guesswork out of contractors bookkeeping services and leaves good solid, repeatable bookkeeping processes that workday in and day out. Warning Sign #03Your contractors bookkeeping services firm talks down to you, uses "accounting speak" and makes you feel stupid when you ask questions. Yes construction accounting is complex; however, you don't want to know how it is done or sausage is made for that matter; you just how to read the financial and job costing reports to help you operate and grow your construction company. The true professional in any field makes everything they do look easy I invite you to look at The Five Key Performance Indicators For Contractors. Then you decide if what I say it true or not, you are the judge. Warning Sign #04Your contractors bookkeeping services firm is always late getting the work done, rushed, and misses deadlines without any explanation or apology. Bless their little pea-picking hearts! There is no profit in operating a chaotic bookkeeping service or any other company for that matter. Contractor bookkeeping services is among the most predictable, foreseeable, boring, tedious, mundane, repetitive, monotonous, dull businesses in the world and people either love it or hate it and thank Heaven we here at Fast Easy Accounting love it, eat it, sleep it, dream about it and are generally fascinated with it! The reason we love it so much is our contractors bookkeeping system reverses the typical 95% / 5% ratio. In most bookkeeping services, 95% of the time they don't know what to do most of the paperwork they encounter so they try to remember what we did with the last one just like it and they hope the financial and job costing reports don't get screwed up. And only 5% of the transactions are simple and easy. Even something as simple as knowing where to classify fuel or food can be a nightmare for the bookkeeping services staff without at least 10,000 hours in construction accounting. Fuel Costs Could Go Into A Dozen Accounts For Example:1.    Construction vehicles for use on streets and roads2.    Construction vehicles for off road use3.    Generators4.    Cut-off saws5.    Air compressors6.    Other power tools7.    Admin vehicle company owned8.    Field employee vehicle as reimbursement9.    Admin employee vehicle as reimbursement10.    Sales employee vehicle as reimbursement11.    Operations employee vehicle as reimbursement12.    Officer or Owner vehicle as reimbursement Food Costs Could Go Into A Half-Dozen Accounts For Example:1.    Field employee meals (different tax deduction than straight meals)2.    Meals for office employees3.    Entertainment4.    Office meetings5.    Charitable donations6.    Gifts for clients If a transaction is put into the wrong account the financial statements will present a vastly different picture to the contractor regarding which jobs are profitable and which ones are not. In the end, it could mean the difference between success and failure because if you rely on Profit And Loss By Job Reports to know which jobs to bid on and which ones to ignore. Year over year and regardless of the economy one thing never changes; 20% of the contractors earn and keep 80% of the profits because they have a Business Process Management Strategy like our Contractors Success M.A.P. that tells them how, what, when, where and why to focus their limited resources on M.A.P. = Marketing / Accounting / Production. The 80/20 Rule Combined With Business Process ManagementCan Improve Your Life In Ways You Never Dreamed Possible! Warning Sign #05Your contractors bookkeeping services firm works out of their home. Home based businesses are great for many people and they make a lot of sense; except when it comes to dealing with your construction company's sensitive financial data. The last thing you want is for your contracting company records to be sitting on someone's kitchen table open and inviting for anyone and everyone to see, touch, read and spy on you construction company. It happens more than you could imagine or could believe unless it has happened to you or someone you know and trust. Just as bad is when your cheap bookkeeper has little kids with sticky fingers and they get peanut butter and jelly on your construction company receipts.By far, the most scary cheap bookkeeping services are the ones run by the wife, girlfriend or office worker of your competitor who likes to share your client list, estimates and financial records...OUCH! That happens more than you could possibly imagine or believe. Warning Sign #06Your contractors bookkeeping services firm internet presence appears sloppy or disheveled or their website has fewer than 50 pages. Even worse, they do not have a website or any other presence on the internet. A website is no longer a luxury and at minimum to be taken seriously your contractors bookkeeping services should be found in at least 20 different social media sites including a presence on LinkedIn, Facebook, twitter and Google+ to name a few. The best way to know if your contractors bookkeeping services firm has an internet presence is simply do a google search on them. Google FastEasyAccounting.com and you will find over 9,000 results as of 10-17-14. Google our Co-Founder Randal DeHart and you will find over 58,000 results as of 10-17-14. Warning Sign #07Your contractors bookkeeping services firm uses high pressure or scare tactics to get you to buy. Bad bookkeeping service! We do not close sales; we open relationships. Hiring a Contractors Bookkeeping service is something we take rather slowly and deliberately. We are a small privately held contractors bookkeeping services firm with a process to invite new contractors like you into our family of clients. It starts with a No Charge Consultation and mutual interview to determine if there is a basis to build a mutually beneficial relationship. Next, we review your QuickBooks file to determine how and if we can meet your construction accounting needs. Lastly, Sharie contacts you to present one of more custom solutions that we put together to fit your construction company's individual needs because no two contractors are the same. Sharie reviews it with you and you decide to engage our services when you are ready. Sharie will not attempt to close you because as I said before, "we do not close sales; we open relationships" so if we are not a good fit simply say so and we will leave you alone. In the future if you change your mind, you are always welcome to contact us again. Warning Sign #08Your contractors bookkeeping services firm doesn't explain your bookkeeping options; it's basically their way or the highway. We can serve 99.99% of construction and contracting companies in the USA including Alaska and Hawaii with annual sales volume from $0 start up to $5,000,000 with a flat rate weekly or monthly fee that does not change unless your needs change. Our construction accounting services system takes the guesswork out of contractors bookkeeping services and leaves good solid, repeatable bookkeeping processes that workday in and day out. However, some contractors want control over their construction accounting services including what, when, where and how their Contractor Bookkeeping and Accounting services are being done. If this describes you then rest assured we have you covered. You can have access to the same secure, Intuit Approved Cloud Based Hosting Service, which includes the same QuickBooks desktop, MS Word and Excel as all of our contractor clients and instead of our construction accounting services system.In these cases we can design a reasonable hourly contractor accounting service package to fit your needs and allow you reasonable command and control on how QuickBooks is setup and maintained. Warning Sign #09Your contractors bookkeeping services firm doesn't follow up regularly to make sure you are very satisfied with the services you are receiving. We have a simple answer, we keep in contact with you as much or as little as you desire and more importantly we earn your business every month. No long-term contracts, you vote with your dollars to keep us or let us go. That my friend is what keeps our feet to the fire. We do everything we can, within reason, to keep you, improve our services, innovate and add value every day. Don't take my word for it see what our clients say Click Here. Warning Sign #10Your contractors bookkeeping services firm has no QuickBooks ProAdvisors on staff. This is only one of the very basic certifications they need to have to even be considered a viable bookkeeping services for small business firm. Yes, it costs money, $549 per year and the ProAdvisor has to take a test and re-certify on the new QuickBooks edition every year. Warning Sign #11Your contractors bookkeeping services firm never takes a proactive approach to supporting your construction company needs outside of simply providing the bookkeeping services and doesn't offer recommendations to help you get more from their services, save money, or improve your construction company profit and productivity. We have entire sections of our website devoted to helping your construction company become more profitable, streamline your operations and become more productive. For example, check out the strategy and construction psychology sections. Warning Sign #12Your contractors bookkeeping services firm doesn't offer you a way to access your QuickBooks desktop version 24/7/365 from any web enabled device. That is just wrong! Does it cost them money? Yes, many thousands of dollars annually! And it is so worthwhile! Want to learn how to hire an honest, competent, and reliable contractors bookkeeping services firm? Download our FREE Business Advisory Guide at Contractors-bookkeeping-services-guide-for-construction-accounting-and-bookkeeping/ I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0085 Part Two Of Sean Kavanaugh's Interview On Contractors Success M.A.P. Podcast The Following Is An Outline From Sean Kavanaugh's Guest Appearance On The Contractors Success M.A.P. Podcast. It is on iTunes, Stitcher Radio, Pocket Casts and all popular podcast directories. Editors Note: In case you missed Part One you can click on this link to listen to it. The text below is a recap of the entire interview.-----------------------------------------------------------------Hey Randal thanks so much for having me on the show. I really appreciate it.I guess before we dig in I should probably give a bit of background on myself. My name is Sean Kavanaugh and I've been in the plumbing business in the Chicagoland area in some capacity for 22 years.Right out of college I began working for my father at Litvin Plumbing where he was the president.Litvin was a fairly famous hi-rise contractor and one of the first high rise contractors in Chicago doing the plumbing work for the John Hancock Building, Water Tower Place, Marina Towers (Think Bullet with Steve McQueen) and many others.I was hired to help out in accounting but ended up being the purchasing agent at 22 years old for a company with 75 employees doing about 18 to 25 million in annual revenue.It was sink or swim because I knew very little about actual plumbing even though my dad had been in it for my whole life.It was there that I learned a ton about buying commodities like copper, cast iron and steel, job staging, scheduling truck loads of cast iron, copper, steel and plumbing fixtures not only for the job but to prefab what we could in our shop.(I learned how frustrating and expensive it could be when a scheduled delivery never showed up to a job. 1 foreman, 1 journeyman and 5 apprentices standing around waiting for a truckload of bathtubs that never shows up?) Believe me a couple major fixture manufacturers hated me for the butt chewing and back-charges I gave them for not showing up with 1100 tubs.)In 1998 my father and I founded Kavanaugh Plumbing. We did tenant improvements, commercial, industrial and multiunit residential rehab and commercial and industrial service work.My goal was to be the biggest plumbing contractor in Chicago. Not because I had a plan but because I thought we were really good at putting in plumbing and people liked us. Three Quarters of a Business Life For the first five years it work real well we made a lot of money, then we grew. Then I had to take out a line of credit because we were doing bigger work and we weren't being paid in a timely manner.The next five years were stressful but OK. Money became our master, we did some big work with a ton of change orders and were paid barely 50% of them so winners became losersThe next five years were a complete mess. I told my wife I put boxing gloves on every Monday to start pounding customers for cash to do payroll on Wednesday. We had no one to tell us to stop. No one to tell us how to get out of the madness so we worked harder and longer for shear pride. A very big job for us didn't pay us for 7 months and we called it quits. Words of Wisdom From Sean Kavanaugh #01 - Don't ever do a job you can't pay for yourself. I know there is a need for banks and business loans but you need a really good accounting partner to let you know if its right. I never had that innate feeling of when that should be. I just did it because it's what plumbing contractors did at least the ones that I knew#02 - If you can't pay the Employment taxes it's probably a real good time to think about shutting it down before it gets out of hand.#03 - Don't be afraid to ask for your money. You provided a service you deserve to get paid on time within terms.#04 - Never and I mean never run your business to run your home. I see so many "contractors" price their work so they can make their car payment or their mortgage and insurance. Price your work so the business works. Your house will run like clockwork if the business is running well.#05 - Never let an employee be disruptive to your firm just because they are good at a certain task. If you aren't all moving in the right direction it will hold you back eventually. Four years ago I developed a website called ThePlumbingInfo.com with a web developer. I was an English major in college so I thought I could write. So I set out to build an authority website on plumbing for the consumer and professional.At first it was a great distraction from the actual plumbing business. Cathartic as it grew it became a source of income and the company that developed the site Todays Growth Consultant hired me full time to manage content on 235 authority websites.We are kind of hybrid web development, marketing company and our other company Income Store buys income generating websites for individuals, companies or private equity firms and by the way that’s a heck of a product.I guess you can say I'm an SEO guy but I hate the term. I really love to build relationships with people who want to grow their base site traffic and reputation using content as the bridge.For instance if a plumbing contractor wanted to grow their site organically we would give them a keyword silo and guide them in how to write for those keywords. Eventually I would use theplumbinginfo.com as a springboard for their content. They gain authorship credit by writing for an already established site and it expands their online footprint.-----------------------------------------------------------------Editor’s Note: I have known Sean Kavanaugh since late 2013 and I trust him and find him to be very knowledgeable and capable on the subject owning, operating and growing Plumbing and Mechanical Companies as well as a skilled marketing expert for all Contractors.I Highly Recommend all contractors spend some time on his website ThePlumbingInfo.com and get to know him. He is a valuable resource to all contractors, not just Plumbing and Mechanical Contractors. Please be sure to let him know Randal DeHart, The Contractors Accountant, recommended you.Sean Kavanaugh and I met on Google+ in late 2013 and found we had a lot in common. We were both licensed journeyman plumbers earlier in our career paths and had the pain and pleasure of owning and operating plumbing companies.We have both moved on to other careers that involve construction. Sean manages 235 authority websites and one in particular near and dear to his heart is ThePlumbingInfo.com.Sean invited me to contribute articles to ThePlumbingInfo.com that are directed specifically to the wants, wishes, hopes, dreams and challenges of Plumbing and Mechanical Contractors.Frankly, I was very appreciative of the opportunity to serve Plumbing and Mechanical Contractors; however, my time is limited, having a 60+ hour workweek (it is because I want too, not that I have too).The thought of adding another 1-2 hours a week to construct a decent article and post it did not seem to be a good use of my time. After giving it, some thought I remembered one of the Journeyman Plumbers who mentored me in the Plumbing Trade and what he said "It is the responsibility of all Journeymen, in all trades to give back by mentoring" and the decision was made.I submit new articles every week to Sean Kavanaugh's website at www.ThePlumbingInfo.com with the understanding that he, as the editor, can add images and other graphics as he sees fit and that he decides when and if an article is published.It has been an absolute blessing to my Soul to have met Sean Kavanaugh and I am so very grateful to Sean Kavanaugh for the opportunity to contribute and will continue doing so until it is time to stopMany Thanks To You Sean Kavanaugh For All you Do For Contractors Everywhere!For Part One of Sean Kavanaugh's Podcast Interview click here

This Podcast Is Episode Number 0084 And It Will Be About How High Profit Small Contractors Fund Working Capital With OPM Construction Working Capital - Definitions are complex and can take a lot of room to explain and since we are primarily concerned about helping small construction companies like yours to make a lot of money I will keep it simple and easy. Construction Companies Need Short-Term Liquid Working Capital such as cash, lines of credit, loans, owner financing, credit cards, supplier accounts and other forms of money to conduct daily operations. Small Construction Companies With Annual Sales Less Than $10,000,000 and other requirements enjoy some benefits that are not always available to larger firms. Likewise, larger firms can leverage economies of scale The Larger Your Construction Company - grows the more likely you could end up operating like a bank without the hundreds of ways to generate revenues from fee income and interest calculation that banks use. The Most Popular Method - Which was designed by investors and developers and shrewd business people who understand the concept of divide and conquer is for contractors to get little or no down payment for a construction project, do all the work, including change orders and then try to collect their money. What Often Happens - Is that contractor’s hate paperwork preferring to keep everything in their head. Then when it comes time to collect their money they find themselves having to re-sell the job and talk their customer into parting with their money. It is similar to the old bartender joke. No Deposits And Progress Payments? - Man Goes Into A Bar: "Hey bartender, hurry up and pour me a double before the trouble starts" and the bartender does. The man drinks it. The man repeats the scenario several times and soon the bartender says "Hey there have been a number of drinks crossing the bar and no money coming back" to which the man replies "Uh-oh! The trouble is about to start!" This is similar to a contractor who does a lot of work without getting deposits and progress payments. Its Been Said: "The value of services rapidly diminish after the services have been performed" which is why highly profitable companies like McDonalds gets your money before they deliver your meal. Compare the success and profitability of a McDonalds franchise to most restaurants. The Least Popular Method - Is getting work orders and contracts signed and deposit checks before starting the project because most of us were conditioned from childhood through adulthood and beyond not to ask for money. Contracts With Clear Simple Language - All Change Orders will be documented with a scope of work and be Paid In Advance before the work begins. Again we recommend you hire a good construction attorney and have that person write your contracts. Contractors That Finance - Working capital with their own money and whatever they can borrow will earn less profit and put themselves at higher risk of failure than contractors who use Other People's Money (O.P.M.). It is a given that to start your construction business you need working capital and we have formulas that can work with you to estimate how much you will need and assist you the calculations in our Business Plan section. To see an example of how it works go to www.fasteasyaccounting.com/opm In The Example Shown - There are two fictional contractors that started at the same time and each one had $10,000 working capital between cash in the bank, room on their credit cards and supplier accounts. There Are Risks - In doing this the most important is understanding the money you have from your customers and clients that has not been used to perform work is a liability to the company and needs to be reflected properly in your bookkeeping system and you should never use any unearned dollars to buy anything frivolous like a new F-350 Pickup truck or a vacation. Bookkeeper Theft - Is another risk to be aware of because Bad Bookkeepers and Incompetent Bookkeepers have been known to re-distribute your wealth if they believe you are earning too much money. We Have No Issue - With contractors earning lots and lots of money. Our bookkeeping system is setup so that we NEVER HAVE ACCESS TO YOUR MONEY. We simply do your bookkeeping. Your Construction Accountant - Is a valuable key component in setting up QuickBooks to help you keep track of it all. And as needed we can help with ongoing bookkeeping services and Strategic Management Process Development. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0083 And It Will Be About Secrets Of Successful Construction Companies Clients Often Ask - Us why some of their competitors Construction Company owners make a lot of money than they do when they are both doing similar work.Here Are The Top Five Secrets - We used in our Construction Companies in the past and that we see successful Construction Company Owners doing now that keep them in the top 20% of the income producers. #01 They Know What They Want - From their Construction Company. They took the time to think about what they want and they wrote it on a piece of paper by hand in cursive, just a paragraph or two and they keep in a private location. Somewhere they can see it when they want; which is at least once a week and they hold that vision in their mind. #02 They Plan Their Work And Work Their Plan - Sounds simple right? Well it is and here is the overall strategy for your Business Process Management (BPM) System and the main tool to start with is a copy of this Business Plan Software. It will be a lot of work; however, there is system for everything and once you know the answers the questions will not bother you...get a copy of Business Planning Software and schedule a Free One Hour Consultation with Sharie to review your current situation. #03 Bread For The Head - They feed their mind and most of them have a library card, yes in this day and age they have a library card. They read good books on a wide variety of subjects, biographies of successful people, books about art and science, social issues, philosophy and other subjects. Get a library card. To get you started we have a webpage with a list of the most popular books this group reads and re-reads regularly Recommended Reading List Then click on Thoughts And Inspirations. #04 They Understand Leveling - Which means they spend time with people who will support them and whom they can support. Read more about this concept in Think And Grow Rich, By Napoleon Hill and pay close attention to the discussion regarding the "Master Mind Group". Be careful that term has been hi-jacked and there are many jolly jokers out there putting together so called "Master Mind Groups". Study Napoleon Hill's Book Think And Grow Rich and you will know the right group when you find it. #05 They Build Their Construction Company - Like a Parthenon supporting it with many pillars of M.A.P. and processes all wrapped inside their Strategic Business System; because they understand the true meaning behind the phrase "The System Is The Solution" A Lot Of Not As Successful Construction Companies - Build their Construction Company on the Diving Board Principle..."Systems? Processes? Business Plan? Are you crazy? Who has time for that stuff? Our plan is simple we plan to make a lot of money!"  This reminds me of the phrase "Leverage Is Great....Until The Stick Breaks! These Are Some - Of the Threads of Success Weaved Into The Fabric Of Success In Owning And Operating a successful and profitable Construction Company. Please visit our site http://www.fasteasyaccounting.com/ and wander through early and often as we are continuously adding fresh new content.One Final Hint - They make money in their office; not in the field I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0083 And It Will Be About Business Round Table - Where Contractors Learn How To Fail! Tonight And Every Night - Including daytimes and weekends, a lot of construction company owners will gather at the Business Round Table. It is the little Round Table at the local bar where the go to teach each other all kinds of ways to run their contracting company. Unfortunately, for the attendees most of the discussion is based on hearsay, conjecture, stories from curbstone lawyers, half-witted bad bookkeepers, construction company owners on the edge of bankruptcy and people that have already run their businesses into the ground and learned nothing. Business Round Table Meetings - Are held at every local tavern, beer garden, lounge, backyard Bar-B-Q, anywhere contractors go to unwind after a tough day in construction. The Contractors Who Attend These - Discussions are for the most part very intelligent, articulate bright men and women who understand the construction trade at a very deep level. Unfortunately, they have been abused and taken advantage of by a lot of suppliers, salespeople, property owners, tax agencies and the worst of all Bad Bookkeepers which has caused them to become jaded and tend not to trust anyone outside their group.   It Is Good To Socialize - And spend time with friends and contractors and enjoy life. I would simply suggest you consider carefully where you spend your time and with whom you spend time with because Leveling Up Makes Money. Networking With Successful Contractors - Is even better. We suggest joining and getting active in the Master Builders Association www.FastEasyAccounting.com\MBA We Understand This - Because we, Sharie and Randal have spent most of their lives owning and operating construction businesses or serving the construction industry as contractors bookkeeping and accounting specialists. A Tough Day In Construction - Is when you run your construction company without the benefits of a clearly defined, documented and continually updated Business Process Management Strategy. That Nagging Feeling You Have - In the back of your mind that you are missing something important. Well, it is true, you are missing something! A Small Part Of What You Are Missing - Is The 80/20 Rule For Construction Success and as time goes on you will find yourself it's going to get a lot worse as you keep missing out on the more profitable jobs and find yourself scrambling for the crumbs left by the construction companies with a Business Process Management Strategy in place. To learn more about the The 80/20 Rule For Construction Success please visit www.FastEasyAccounting.com/8020 Every Day It Is Getting Worse - Because construction company owners like you are waking up to the realization, they can no longer afford to compete on price alone. They are admitting to themselves that they need a Business Strategy and systematic instructions on what to do, and how to do it. They are coming to terms with the idea they need a mentor like Sharie and Randal to help them transition from Working In Your Business - To Working On Your Business! Don't Take My Word For It - Read what some of our clients have said. Click here to see our Fan Page. We have programs to fit every need and budget and none of them exceeds thirty days, no long-term commitment, we perform or you can go elsewhere. No harm, no foul. Begin With The End In Mind - As Stephen Covey said, and use the list below: to get your mind thinking: 1. Every Contractor’s Company Is Two Years Old; What Happened Three Years Ago Does Not Matter!2. Understand The Demographic And Psychographic Of Your Best Customer or Client!3. What Do Your Best Customers And Clients Want And Are Willing To Pay For It!4. Have Processes And Procedures In Place To Optimize Profits!5. Understand The Thinking Patterns Of Their Project Managers!6. Understand The Thinking Patterns Of Their Construction Workers!7. Understand The Thinking Patterns Of Their Professional Bookkeepers!8. Understand The System Is The Solution! Learn More At http://www.fasteasyaccounting.com/Construction-Psychology/ I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0081 And It Will Be About Bookkeeping Services For Contractors Using QuickBooks If You Own A Construction Company - Then you understand that Bookkeeping is just one of those mundane, nasty, dirty, aggravating, grubby little chores you get stuck with along with its rotten scoundrel cousin the Monthly / Quarterly Tax Reports. If You Have Employees - Whoa! Look out! Now you have payroll to process, in some cases you may decide to provide cash advances to your employees to keep them focused on the job and not on personal issues and finally there are all the Payroll Taxes you need to keep track of and file the reports for on a regular basis.Some Contractors - Decide their time is more valuable spent meeting prospective clients, putting together bids, managing jobsites and a whole lot of other things other than bookkeeping. So they find someone else to do it and that is the subject of this article. Just Like There Are - Skilled construction workers and clowns trying to pass themselves off as skilled workers there are Professional Bookkeepers and Bad Bookkeepers. You Know How To - Tell if someone knows what they are doing in construction because you have been doing it a while. You May Not Know - How to tell if someone is going to do right by you in your bookkeeping so here are the top ten things to watch out for: Red Flag #01 Professionals Have A Real Office - Professionals in any field, doctors, lawyers, consultants and bookkeepers that cannot afford to maintain an office, even a small one room office, outside their home is in my opinion dangerous, dangerous, dangerous! The Ones Who Say - "I keep my overhead low" may as well be saying "Your records are available to any of my family, friends and neighbors to rummage through them because I am not the least bit concerned about your exposure to Identity theft or you competition getting a peek at what your business is all about." Red Flag #02 Professionals Do Not Work Alone - Because it is too easy to get sloppy and lazy when there is nobody else looking over their work. After a while they develop a severe case of the stupids! Just like a hermit living in the mountains in a cabin they go stir crazy. Red Flag #03 Professionals Accept Credit Cards - Wanna Bees don't and in a lot of cases it is because of bad credit score, business location, business setup, criminal record, (Perhaps involving embezzlement) and a whole lot of other reasons including the fact that it cost money to take credit and debit cards. The Ones Who Say - "It costs money to accept credit cards" ask them if they use credit cards ask yourself, "What are they really saying?"Business Consulting And Accounting - Accepts all major credit and debit cards including Visa, MasterCard, Novus, Discover, American Express, Check Cards, Cash, Checks and Wire Transfer. And it does not cost you anything extra! Red Flag #04 Bad Bookkeeper - For a short list of Bad Bookkeeper Traits Click Here Red Flag #05 Time Billing Only - Professional Bookkeeping Services charge a flat monthly fee for services. Only someone who does not know what they are doing still charges by the hour. We Are Accountants For Goodness Sake - Any bookkeeping and accounting firm that does not know how to calculate complex algorithms that take into account fluctuations in the workload and generate a monthly fee that is fair to you and them they need to go back to school and take those courses on Decision Modeling, Statistical Analysis and Business Process Management. All Professional Bookkeeping Services - Have formulas for calculating fee structures. It is not rocket science: How many employees do you have? From that we know how much time and effort will be required to process payroll and do the tax reports What type of construction do you do? New, remodel, service, residential, commercial? From the number of employees and the type of work you do we know how much time and effort will be required to do all the bookkeeping, bank and vendor reconciliations and the rest. Because we have a System. Click Here To Learn About Our System Red Flag #06 All Businesses Welcome - Gone is the day of the person sitting at the desk with green eyeshades handling the books for a variety of businesses.You Are Facing Fierce Competition - And it is getting worse. You need someone who specializes in your industry. If you are in the construction industry we can help. If you are in the restaurant industry, sorry, we cannot help you. Red Flag #07 Your QuickBooks Is Hidden - Today more than ever you need to have access to your QuickBooks. Any bookkeeping service that cannot or will not allow you 24/7 access to your QuickBooks Desktop Version in a cloud based environment is doing you a disservice. Now if you do not want or need it that is O.K. too! Red Flag #08 Annual Tax Return And Bookkeeping - Bad, Bad, Bad....I have written several articles on this subject and you can Click Here For The Best One Red Flag #09 Unwilling To Collaborate - When your bookkeeper gets a bit uncomfortable about other people being involved and overseeing your financial records you have a BIG PROBLEM. We Advocate Trust-But-Verify - There are five people you need on your Board of Advisors and you are paying for their services anyway so you may as well take full advantage of them. They are there to help you. Red Flag #10 They Do Not Understand KPI - KPI is short for Key Performance Indicators also known as the Five Key Reports every contractor needs.For more information about Key Performance Indicators Please visit www.FastEasyAccounting.com/kpi I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

The BCG Matrix Is One Of The Tools Fast Easy Accounting Uses To Help Construction Contractors Increase Profits Developed By Bruce Henderson - For the Boston Consulting Group in 1968 to help corporations analyze business units or product lines. It helps companies allocate resources and is used as an analytical tool in brand marketing, product management, strategic management. No Two Construction - Companies are alike. Every construction company has a unique blend of ownership and management philosophies, tools, equipment, staff, field employees, geographic location, and relationships with suppliers, vendors and professional service providers. This Means - That if construction company "A" earns a better than average profit percentage on residential remodel it does not follow that company "B" will be able to do the same. Get Rich In A Niche - By finding your company's sweet spot, that particular thing you are good at, that people want and will pay good money for and that you are best suits you. Then you spend the majority of your time and effort developing your Business Process Management (BPM) to be the best and only company to service those clients and preferably dominate that market in your target geographic area. The BCG Matrix - Is one of the many tools in our BPM tool chest. We Job Profitability and Job Costing reports from a properly maintained QuickBooks file to map out a specific construction company's target markets. Cash Cows - Are construction projects that generate the highest gross margin. These projects typically generate cash in excess of the amount of cash needed to maintain the business. They are regarded as stable and boring and every contractor would be thrilled to own as many as possible. They are to be "milked" continuously and add more of them whenever possible. Dogs - Are construction projects that generate the least gross margin. These projects typically "break even" or lose money. Though owning a break-even unit provides the social benefit of providing jobs for your employees and possible synergies to assist other construction projects from an accounting point of view they are worthless because they reduce profits and the construction company's return on assets ratio which many investors, bankers and bonding companies use to decide how well a company is being managed. Question Marks - Are construction projects in new markets or a different type of work than the company has been doing which shows potential because they are growing rapidly. Beware of the fact they could consume a lot of cash while you are putting the processes in place to manage these projects. A question mark could prove itself and become a star, and eventually a cash cow. If the question mark does not prove profitable within 90 - 180 days, it may be wise to re-evaluate those projects. Stars - Are construction projects with high gross margins in a fast-growing area like aging in place for seniors. The hope is that stars become the next cash cows. Sustaining your construction company market leadership and increasing the profit picture. When growth slows, stars become cash cows if they have been able to maintain their category leadership, or they move from being a star to a dog. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

If Has Just Happened to you please stop listening and call Sharie 206-361-3950 or email her [email protected] and get help now! Every Day Hundreds of construction company owners across the country and around the world are arriving to work with a full work load of projects that "Absolutely, Positively Must Get Done Today" only to find their bookkeeper is gone and now you have a full blown emergency accounting situation! The Next Slap In The Face All Too Often Is Embezzlement! The Bookkeeper Has Disappeared - Quit! Found a better job! Moved and left no forwarding address! Evaporated! Abducted by Aliens! Replaced you with a more important contractor! Gave up bookkeeping to go live in the Bahama Islands! Or perhaps they simply retired on the money hey embezzled from your company! Click here to read The Most Common Signs Of Embezzlement And What To Do About It! All You Know Is Paperwork - Is rising faster than the great flood that carried Noah's Ark along for forty days and forty nights and your business is about to go out of control and end up like a train crashing through a stone wall!At This Point You Need - Someone to step in and take control of the situation ASAP! NOW! RIGHT NOW! You need Fast Easy Accounting Emergency Bookkeeping Services Call Sharie 206-361-3950, email [email protected] and she will get your business on the right track! Now Lets Figure Out - What happened that caused you to be here in the first place. This situation reminds of several clients who have experienced similar situations and one client in particular comes to mind that should help bring some clarity and understanding to the situation. The names have been changed and enough details left out to protect everyone's identity. The main characters are Fred and his lovely supportive wife Wilma. Here Is Fred's Story - He started his construction business doing a few light handyman type projects, building a few fences, updating kitchens and baths, building decks, gazebos and finishing out the basement areas of split-level houses built in the 1970's and 1980's. Wilma Started Doing - The bookkeeping to help Fred save money on contractors bookkeeping services fees and very quickly she found she hated every minute of it. Contractors Bookkeeping Services are not easy as it looks and it is only a small part of the overall accounting required to operate and grow and successful construction company. Just like framing walls is important; however, it is only part of the carpentry skills required to build a house. Nobody Told Wilma - And she did not know enough about it to ask about why all accounting is made up of two parts and that Bookkeeping has to be done with both parts in balance at the same time. Performing Contractors Bookkeeping Services without proper training in regular accounting followed up with extensive training in construction accounting is like doing Chinese math in the dark...it can be done, but it is not easy! · Internal Accounting - The part that provides information for the Business Process Management System and generates reports for business owners to read and make decisions about what jobs are profitable and what jobs are not and the reasons why it is that way. · External Accounting - The part that provides information to Process Payroll and fill out Monthly and Quarterly Tax Returns and the Annual Tax Return and to fill out Bank Loan Applications. · And Worst Part Is - She had no idea that Construction Accounting is the hardest bookkeeping of all! It is like herding balloons on a windy day, while wearing a blindfold, with no shoes and socks, in a parking lot, in the summer, at high-noon, with the sun beating down, and the temperature is 109 degrees and rising! After A Few Months - The bank started bouncing Fred's checks. He tried to explain the situation to the bank how he was going to be paid a large sum of money as soon as he finished the job he was on and his story fell on deaf ears...the bank said unless he had a line of credit they had no choice but to bounce those checks and add those pesky $35.00 bounced check fees and the bad news was more NSF checks were due anytime. To Add Insult To Injury - Not only did the bank charge hundreds of dollars in bounced check fees but the stores and suppliers that accepted his checks did the same. All of this made a bad cash flow situation worse. Fred Used A Few Bad Words - And shouted at Wilma blaming her for the bounced checks. He "forgot" she was not hard of hearing". Wilma responded equally loud and angry suggesting he could perform a certain impossible "Circus Acts On Himself" and said "I Quit, you $@!&*#$ go find yourself a bookkeeper!" Fred And Wilma Met With Us - And a dozen other bookkeeping services. Wilma had worked with QuickBooks so she understood what we were saying and wanted to hire us on the spot. Fred did not understand anything about QuickBooks and kept saying "Bookkeeping is just pushing a few keys on the keyboard; how hard can that be?" In the end Fred decided all of the bookkeeping services were way too expensive. Fred Searched Craigslist And Found A Cheap Bookkeeper - That charged less than half what any other bookkeeping services firms quoted and here were the results after six months: · The cheap bookkeeper managed all the money for the business · The cheap bookkeeper filled out several new credit card applications for Fred to use as "Working Capital" · When the credit cards came she gave Fred some and kept some for her personal use · A number of checks were written to "dummy accounts" in QuickBooks and the checks were deposited into a bank account controlled by the Cheap Bookkeeper. · The cheap bookkeeper kept enough money in the bank to avoid bouncing checks · None of the bank or credit card accounts were ever reconciled by The cheap bookkeeper · In the end a little more than $100,000.00 had left the company in the form of cash, credit card debt, unfiled and unpaid sales tax payments, unfiled and unpaid payroll tax payments and unauthorized charges on his supplier charge accounts · This was not the worst we had ever seen but it was in definitely in the top fiftyFred Decided To Come Back - To us because he remembered from our first meeting I had emphasized five things: · We never, ever touch your money! You get paid from your customers, you put the money in the bank and you pay your bills when you are good and ready. · We do all the bookkeeping, process payroll, fill out the tax forms, we will sit ith you and help you understand what bills you owe; however, we will not make any decisions on who gets paid, how or when. What we will do is make it as easy as possible for you pay everything online or with paper checks. (At our first meeting Fred insisted on having someone else to manage his money, now he understood why it is never a good idea for a contractor with less than $10M in annual revenue because small construction company owner's cannot afford the professional accounting staff and process to reduce theft and now he loves the idea of only he or Wilma controls the money!) · We believe it is in your best interest to: "Trust But Verify" Which means trust us that we are doing what is best for you and verify that we are by having someone else prepare your Annual Tax Return that way they will review what we are doing and give you an independent report. · We believe all construction business owners need a Board of Advisors to guide them in achieving their definition of success. · We believe all construction companies need a Business Process Management System in place in order to Optimize their profits. Fred's Story Has A Happy Ending - After several years of planning his work and working his plan and paying attention to the Five Key Indicators his construction company has turned around and is doing very well and Fred is a much wiser man today than he was when we first met. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

Contractors Want Money; Banks Want To Lend Money, What's The Problem? Think of all the times: You loaned money to a friend or relative Provided labor and material for construction project without any deposit Did change order work that you never got paid for doing and never will Gave employees advances on their paycheck and never got paid back Multiply That By 100,000 And You Will Begin To Understand Why Banks Seem So Tight Fisted About Loaning Money Banks stay in business is by loaning money and earning interest. They work hard to find people and businesses and contractors that are good credit risks they can loan money too and get paid back in a timely fashion, with all of the interest due to them. Do your best to avoid raising any red flags. Five Red Flags To Avoid: #1 Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards #2 The financials tell the banker your bookkeeper doesn't understand Construction Accounting #3 The preparer's signature on the annual tax returns are not from a qualified tax specialist #4 You have no access to a construction accountant, not even for quarterly check-ups #5 You don't have a formal documented Business Plan with a budget and projections If you find you have already raised some or all of these red flags, no worries, we can help you fix most of them. Bankers love chatting with accountants because we speak the same language. Just like house builders love chatting with sub-contractors and building material suppliers because you all speak the same language. Nobody has to tell a builder not to install carpet after the walls have been framed because that would be foolish. It is common sense to anyone in construction. In fact, contractors have over the past several thousands of years developed a sequence to how structures get built. In March 1948, The Construction Specifications Institute (www.csinet.org/) was formed to improve the quality of construction specifications. They improved existing specifications standards in order to meet the demands of the post-war construction boom. They developed new specifications, best practices, standards and formats, professional education, and more to help streamline construction and get more done is less time. Most of the language and methods used to develop project plans and the steps and phases of construction came from the work of The Construction Specifications Institute. Even QuickBooks For contractors has an entire section devoted to tracking the costs of construction and they attempted to put it together in a way that mirrors the high-level phases of building a house. Unfortunately, in my opinion it is useless. In order to have something that works you need QuickBooks Setup Specifically For Whatever Type Of Construction You Are Doing. We can help with that if you need it, Call Sharie 206-361-3950 or [email protected] Getting back to financing strategies for your contracting Company it will help if you understand the banking version of The Construction Specifications Institute.A Bit Of History Helps With Understanding According to the FBI http://www.fbi.gov/about-us/history/famous-cases/al-capone in 1931, the IRS took down the alleged gangster Al Capone by “Reverse Engineering” his financials using some of the tools provided by The Risk Management Association. Essentially the IRS collected receipts from everywhere that Al Capone spent money including his tailor, Marshal Field and Company, hotels, restaurant and food suppliers and more. Using the information gathered the IRS was able to make a compelling case from the bottom up of his annual income. The rest as they say is history. In October 1931, Mr. Capone was convicted and sentenced to 11 years in federal prison, which included Alcatraz. He was released after seven years and owed $215,000 plus interest in back taxes. In 1914, The Robert Morris Club (RMA) was formed to help businesses and bankers exchange credit information. It was named after Robert Morris who was a signer of the Declaration of Independence and was believed to be the primary financier of the Revolutionary War. The RMA developed several tools among them was a system of Ratios that we use today to study financial statements of all companies in all industries. The banking and lending industry has enormous databases and artificial intelligence software from places like The Risk Management Association (http://www.rmahq.org/) that allows them to separate the good contractor risks from the bad ones. It generates recommendations based on complex algorithms much more complex than any gambling casino and with a much higher payoff. One of the keys to getting a banker, lender or bonding company to consider your construction company for financing is the way your financial statements are presented. In particular, your construction company Profit & Loss and Balance Sheet. A banker, lender or bonding agent logs into their RMA account and fills out electronic forms, answers questions about your construction company and inputs specific numbers in specific blanks that are taken directly from your construction company Profit & Loss and Balance Sheet. Any construction accountant worth his or her salt knows exactly how to setup QuickBooks correctly for this process to take place. If a contractor gives their banker, lender or bonding agent a set of financial reports that do not conform to the RMA requirements they may or may not try to extrapolate the numbers need using Excel or some other program. In most cases they be very polite, and thank you for "applying" before giving you the "We will let you know as soon as we know anything" speech. I know this because I have heard it from many bankers, lenders and bonding agents who are frustrated because they know you are a good client and they know you are a man or woman of integrity that can be trusted to pay the loan back, on time, with all of the interest. The RMA and other reports show where your contracting company stands in relation to other contracting companies serving similar geographic and demographic markets. Each major category, Sales, Cost of Goods Sold, Overhead, Other Expenses and Other Income are rated on a scale of top 25%, middle 50% and bottom 25%. Ideally all of the numbers on your Profit & Loss and Balance Sheet falls somewhere in the middle 50%. Whenever a contractor "forgets" to declare all of their income or "overstate their expenses" it will show up here like a red flag. Finally a Z-Score is compiled which is a formula for predicting bankruptcy. Edward I. Altman published it in 1968. The formula may be used to predict the probability that a firm will go into bankruptcy within two years. Although not 100% accurate it is a useful tool, similar to a tape measure is not 100% accurate yet still useful. This is why sometimes a contractor with excellent credit cannot get a loan or line of credit and yet another contractor with only good credit can get financing. Hopefully you have gained some insights to the banking, lending and bonding industry. I strongly suggest you get your contractor bookkeeping into the hands of someone who understands the difference between construction accounting and regular accounting and put together a Board of Advisors so that you can get your construction company on track to making you lots of money! We Remove Contractor's Unique Paperwork Frustrations 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. I hope this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0077 And It Will About QuickBooks Setup For Contractors We Fix Bad QuickBooks For Contractors Setup Issues. Did someone setup QuickBooks by trying to follow the built in template inside QuickBooks and you figured out you cannot get any of the financial and job costing reports you need to operate and grow your construction company? Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. We Do QuickBooks Setup For Construction Beginning With Year 2000 And Up Click Here For QuickBooks Setup Templates For Contractors · QuickBooks Pro 2000 And Up · QuickBooks Premier 2000 And Up · QuickBooks Premier Contractor 2000 And Up · QuickBooks Premier Accountant 2000 And Up · QuickBooks Contractors 2000 And Up · QuickBooks For Contractors 2000 And Up · QuickBooks Enterprise Contractors 2000 And Up · QuickBooks Enterprise For Contractors 2000 And Up Contractors, house builders, residential and commercial remodeling company owners let us take care of QuickBooks setup for your contracting company because owning and operating your construction company means you need clear and concise Financial Reports, Job Costing and Job Profitability Reports to survive and thrive. The size of your construction company is not as important as how much money you earn from it. Our internal research shows a properly run construction company with annual sales between $500,000 and  $5,000,000 can generate as much or more cash, profit and equity than most construction companies with annual sales between $5,000,000 and $10,000,000. It has to everything to do with strategic planning, understanding and using the right QuickBooks reports the right way. There are thousands of QuickBooks reports and hundreds of add-on software that can generate thousands more; however there are only five Key Performance Reports and a few Job Costing and Job Profitability Reports that will provide what you really need to achieve your goals. The same QuickBooks contractor reports the profitable contractors use are available to every all four types of contractors from the one-person “Dog and Pickup Truck” to the "Enterprise" level contractor. For more on this go to www.FastEasyAccounting.com/4 Which QuickBooks Reports Will Help You Increase Sales And Profits? The reports that stand the test of time are: · The Five Key Performance Reports, (KPI) Reports. Cash Report, Receivables, Parables, Profit and Loss and Balance Sheet. For more on KPI Reports click here · Job Cost Reports, Job Profitability Reports. For more on this go to www.fasteasyaccounting.com/reports What Makes QuickBooks Contractor Reports Valuable? Understanding and using the information they provide to make strategic and tactical decisions to increase sales and profits in your construction company. What if I told you there is buried treasure in your backyard and all you need is a treasure map to find it and dig it up, would you be interested? Of course you are! Proper QuickBooks Setup Is Your Treasure Map If your QuickBooks setup was done by a QuickBooks Expert in construction accounting and maintained correctly you are riding high and living well! If not, we can fix just about any QuickBooks setup by performing a QuickBooks cleanup and importing all of the transactions. The Chart of Accounts is the foundation and if your Chart of Accounts is not setup right you will not have anywhere to put the transactions. The Short List Of Essentials In Our QuickBooks Setup Which You Can Review In Detail At www.FastEasyAccounting.com/setup or www.FastEasyAccounting.com/QBS ·  User Permissions ·  Company Information Window ·  Chart of Accounts Direct Construction Costs ·  Chart of Accounts Indirect Construction Costs ·  Chart of Accounts Work-In-Progress For Land Developers ·  Chart of Accounts Work-In-Progress For Land Development Into Lots ·  Chart of Accounts Work-In-Progress For Spec Builders ·  Chart of Accounts Work-In-Progress For Spec Home Into Rentals ·  Chart of Accounts Over Billings For Earned Value Reports ·  Chart of Accounts Under Billings For Earned Value Reports ·  Chart of Accounts Retention From Your Customers ·  Chart of Accounts Retention For Your Subcontractors ·  Chart of Accounts Job Deposits From Your Customers ·  Chart of Accounts Indirect Construction Costs ·  Chart of Accounts Prepaid Expenses ·  Chart of Accounts Job Deposits ·  Chart of Accounts Fixed Assets ·  Chart of Accounts Depreciation ·  Chart of Accounts Intercompany Transfers ·  Chart of Accounts Payroll ·  Chart of Accounts Payroll Taxes ·  Chart of Accounts Payroll Tax Liabilities ·  Chart of Accounts Customer Discounts ·  Chart of Accounts Bad Debts ·  Chart of Accounts Customer Checks Returned From Bank ·  Chart of Accounts Employee Loans And Repayments ·  Chart of Accounts Jobsite Costs ·  Chart of Accounts Warranty Work ·  Chart of Accounts Sales Tax Errors ·  Chart of Accounts Mobilization ·  Chart of Accounts De-Mobilization ·  Chart of Accounts Leases ·  Chart of Accounts Purchases ·  Chart of Accounts Marketing ·  Chart of Accounts Advertising ·  Chart of Accounts Owner Loans And Repayments ·  Chart of Accounts Special Accounts For Sole Proprietors ·  Chart of Accounts Special Accounts For LLC Corporations ·  Chart of Accounts Special Accounts For Sub-S Corporations ·  Chart of Accounts Special Accounts For Partnerships ·  Chart of Accounts Special Accounts For LLP Limited Partnerships ·  Chart of Accounts Special Accounts Flipper Houses ·  Chart of Accounts Credit Cards ·  Chart of Accounts Lines Of Credit ·  Chart of Accounts Short Term Loans ·  Chart of Accounts Long Term Loans ·  Chart of Accounts Spec House Construction Loans ·  Chart of Accounts Land Development Construction Loans ·  Chart of Accounts General And Administrative ·  Chart of Accounts Occupancy Costs ·  Chart of Accounts Triple Net Leasing Costs ·  Chart of Accounts Technology ·  Chart of Accounts Professional Fees ·  Chart of Accounts Taxes ·  Chart of Accounts Licenses ·  Chart of Accounts Insurance Builders Risk. ·  Chart of Accounts Insurance Vehicles ·  Chart of Accounts Insurance Liability ·  Chart of Accounts Insurance Health And Dental ·  Chart of Accounts Financing Costs ·  Chart of Accounts Interest Earned ·  Chart of Accounts Gain And Loss On Fixed Assets ·  Chart of Accounts Estimates ·  Chart of Accounts Sales Orders ·  Chart of Accounts Purchase Orders ·  Item List Direct Construction Costs ·  Item List Indirect Construction Costs ·  Item List Construction Job Deposit ·  Item List Construction Labor Costs ·  Item List Construction Material Costs ·  Item List Construction Other Costs ·  Item List Construction Subcontractors Costs ·  Item List CSI Codes For Commercial Construction ·  Item List Bid Bond Deposits ·  Item List Sales Tax For Cities (Updated When It Changes) ·  Item List Sales Tax For Counties (Updated When It Changes) ·  Item List Sales Tax For State (Updated When It Changes) ·  Item List Land Developers Direct Costs ·  Item List Land Developers Indirect Costs ·  Item List Spec Home Builders Direct Costs ·  Item List Spec Home Builders Indirect Costs ·  Item List Retention Held By Customers ·  Item List Retention Holding For Subcontractors ·  Item List Work-In-Progress Costs For Land Developers ·  Item List Work-In-Progress Transfer Costs For Land Developers ·  Item List HUD-1 Statement Transfer Costs For Land Developers ·  Item List Work-In-Progress Costs For Spec Home Builders ·  Item List Work-In-Progress Transfer Costs For Spec Home Builders ·  Item List HUD-1 Statement Transfer Costs For Spec Home Builders ·  Item List Work-In-Process Transfer Costs For Spec Home Builders ·  Retention Tracking For Your Customers And Trade / Subcontractors ·  Payroll For Your Employees ·  Payroll Sick Days ·  Payroll Vacation Days ·  Payroll Loans Setup And Tracking ·  Payroll Loan Repayment Setup And Tracking ·  Payroll Reimbursement Setup And Tracking ·  Payroll Garnishment Setup And Tracking ·  Payroll Child Support Setup And Tracking ·  Payroll Tax Table ·  Owners Time To Job For Job Costing Without Affecting Financial Report ·  Preferences In 23 Categories Each One With Multiple Decision Points ·  Price Level List ·  Billing Rate List ·  Sales Tax Code List ·  Other Names List ·  Customer Profile List ·  Vendor Profile List ·  Templates List ·  Memorized Transaction List ·  Memorized Reports List There was quite a lot of information I just covered and you can review it in detail at www.FastEasyAccounting.com/setup or www.FastEasyAccounting.com/QBS We offer the most comprehensive contractors bookkeeping services system in the world. Your Letter of Engagement includes some or all of the options discussed. If there are options, you would be interested in knowing more about please contact Sharie at 206-361-3950 or email [email protected] and she will be happy to review them with you. QuickBooks Setup For Construction Options ·  QuickBooks Automatic Backup On Remote Server ·  All Expenses And Costs Recorded In Chart of Accounts, Not Items ·  All Work In Process Recorded in Chart of Accounts, Not Items ·  Retention Hold By Your Customers ·  Retention Hold For Subcontractors ·  Job Deposits From Customers ·  Employee Type Tracking - Field ·  Employee Type Tracking - Admin ·  Employee Type Tracking - Sales ·  Employee Type Tracking - Operations ·  Employee Type Tracking - Officers ·  Employee Loans - Field ·  Employee Loans - Admin ·  Employee Loans - Sales ·  Employee Loans - Operations ·  Employee Reimbursements - Field ·  Employee Reimbursements - Admin ·  Employee Reimbursements - Operations ·  Employee Reimbursements - Sales ·  Employee Reimbursements - Officers ·  Payroll Preparation - Field ·  Payroll Preparation - Admin ·  Payroll Preparation - Sales ·  Payroll Preparation - Operations ·  Payroll Preparation - Officers ·  Payroll Tax Reporting – 941 ·  Payroll Tax Reporting - 940 ·  Payroll Tax Reporting - 940 ·  Payroll Tax Reporting - W-2 ·  Payroll Tax Reporting - W-3 ·  Insurance Audit Reporting ·  Insurance Audit Support (Business Consulting And Accounting Office) ·  Bank Reconciliations ·  Credit Card Reconciliations ·  Business And Occupation Tax Reporting - Monthly ·  Business And Occupation Tax Reporting - Quarterly ·  Business And Occupation Tax Reporting - Annually ·  Sales Tax Reporting - Monthly ·  Sales Tax Reporting - Quarterly ·  Sales Tax Reporting - Annually ·  Petty Cash Register ·  Fixed Asset Tracking ·  Monthly Depreciation Transactions ·  Intercompany Transfers ·  Security Deposits Tracking ·  Loan To Shareholders / LLC Members / Partners ·  Cost of Goods Sold - Direct Costs ·  Cost of Goods Sold - Indirect Costs ·  Your company Schedule of Values ·  Prevailing Wage Reports ·  Work-In-Process Reporting ·  Tool Lease Tracking ·  Vehicle Lease Tracking ·  Equipment Lease Tracking ·  Schedule of Values For Job Costing ·  QuickBooks Default Schedule of Values ·  Fixed List Of Your company Schedule of Values ·  Your company Schedule of Values For Each Project ·  Construction Specification Institute 16 Basic Cost Codes ·  Heavy Equipment Allocation ·  Occupancy Expense - Office ·  Occupancy Expense - Shop ·  Marketing Cost Tracking By Chart of Accounts ·  Vehicle Costs – Admin / Sales / Operations / Officer ·  Other Income Tracking ·  Other Expense Tracking ·  Investment Property Tracking ·  Upload Documents To Inbox ·  Read, Print And E-Mail Documents ·  24/7 Access To Web Based Online Financial Reports ·  Paperless Server Vault Options ·  Web Based Reports ·  Excel Based Payment Applications Again I covered quite a lot of information which you can review it in detail at www.FastEasyAccounting.com/setup or www.FastEasyAccounting.com/QBS Our process for QuickBooks setup of a new client is a whole lot longer than what I am showing here and for some of you this was TMI (Too Much Information). Our construction company clients offer a lot of feedback regarding what they would like their QuickBooks contractor to do and we listen to each and every request and look for ways to add those enhancements and more. On average the QuickBooks setup template will have 50 enhancements a year. We test them on our server and when they are proven to work we manually update each and every client that has their QuickBooks contractor file on our server. And then we test each update on every client QuickBooks contractor file to make certain it will work. Most of the time our clients do not even know when a template update happened, they just know it works a little bit better and something that was a problem no longer is a problem. The one BIG PROBLEM we caution you about is be careful when you tell another contractor about all the reports and how Fast And Easy your QuickBooks contractor works because in most cases they will not believe you. It is the difference between QuickBooks setup the easy way andQuickBooks setup the hard way! QuickBooks Setup - By a QuickBooks expert in construction accounting to work specifically for contractors on whatever year and version of QuickBooks you own because we have worked with QuickBooks since it first arrived in the early 1990's in DOS. Which QuickBooks Edition - Is right for you? It depends on your annual sales volume and what QuickBooks Reports you want to have. QuickBooks Pro - Works well for all contractors with less than $250,000 annual volume because your QuickBooks Reporting needs are not great. QuickBooks Premier Contractor - Is what we recommend for contractors with more than $250,000 annual volume currently or projected in the next 12 months. The difference in cost is very small compared to the potential value. The Most Important - Part of QuickBooks Setup for contractors is having a QuickBooks expert with a deep background in construction accounting who understands what your particular construction company needs. Among other things you need a fast and easy way to monitor the financial health of your construction company. QuickBooks Premier Contractors Edition - Provides a running scorecard of Key Performance Reports and when used with Business Process Management Tools like what 10 minutes of waste costs their company. Five Types Of Construction Firms Need QuickBooks Setup On Premier Contractor Edition: New Construction Speculative - Land developers, home builders and light commercial builders. These are the contractors who build something in hopes a buyer will emerge during or shortly after the building is built and they need QuickBooks setup so that it will: 1. Your QuickBooks setup is put together so you can track all your construction and overhead costs and generate Bank Draws and Work-In-Progress (WIP) reports against budgeted estimates to monitor progress. 2. Your QuickBooks setup for your Chart of Accounts needs to be focused WIP Assets with a few Cost of Goods Sold Accounts (COGS) to allocate the sale of the building 3. Your QuickBooks expert can setup the Five Key Performance Indicators (KPI) to monitor the financial health of the business 4. You need between 200 and 6,000 Items setup to track all the costs of the construction process from the ground up through the roof and final cleanup 5. This is the most difficult QuickBooks Premier Contractor Edition to setup because there is a mix of Direct, Indirect, WIP and COGS accounts 6. The day to day input is also the most difficult and needs to be handled by accounting staff with specialized training in construction accounting 7. You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs 8. Your income can be sporadic and extremely sensitive to the ups and downs of the new construction market which is why you need a strategy with an external focus on the global housing market. 9. In order for your Spec Builder Company to reach its full potential you will need an overall strategy including a Business Plan for Contractors 10. We believe a lot of speculative builders go bankrupt because they do not have accurate reports to base decisions on and that is as direct result of trying to save money with Cheap Bookkeeping New Construction Custom - Builders of residential and light commercial buildings have special QuickBooks setup needs: 1. You use QuickBooks to track all the costs and generate Complex Payment Applications, Item Estimates vs. Actuals, Job Profitability Summary and Job Profitability Detail Reports to monitor progress 2. Your QuickBooks setup for the Chart of Accounts has a lot of Goods Sold Accounts (COGS) to allocate project costs 3. Your QuickBooks expert can setup the Five Key Performance Indicators (KPI) to monitor the financial health of the business 4. You will have between 500 to 2,500 Items setup to track all the costs of the construction process from the ground up through the roof and final cleanup 5. This is the second most difficult QuickBooks setup is Premier Contractor Edition because there is a mix of Direct, Indirect, COGS and only a few WIP accounts 6. The day to day accounting and bookkeeping input is the second most difficult and to be done properly requires accounting staff with specialized training in construction accounting 7. You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs 8. Our experience has been your group generates a relatively unstable income and is somewhat sensitive to the ups and downs of the new construction custom built market 9. In order for your Custom Home Building Company to reach its full potential you need a Construction Business Strategy including a Business Plan for Contractors 10. We believe a lot of custom builders go bankrupt because they do not have accurate reports to base decisions on and that is as direct result of trying to save money with Cheap Bookkeeping Remodel - Residential And Light Commercial Tenant Improvement Contractors QuickBooks Setup: 1. You use QuickBooks to track all the costs and generate Complex Payment Applications Item Estimates vs. Actuals, Job Profitability Summary and Job Profitability Detail Reports to monitor progress 2. Your Chart of Accounts is focused Goods Sold Accounts (COGS) to allocate project costs 3. You need the Five Key Performance Indicators (KPI) to monitor the financial health of the business 4. Your QuickBooks setup will need 1,000 to 5,000 Items setup to track all the costs of the construction process from beginning to end in order to get the reports you need 5. This is the third most difficult QuickBooks setup in Premier Contractor Edition because there is a mix of Direct, Indirect, COGS and only a few WIP accounts 6. The day to day input is also the second most difficult and to be done properly requires accounting staff with specialized training in construction accounting 7. You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs 8. Our experience has been your group generates a stable income and is not as sensitive to the ups and downs of the new construction market 9. In order for you to reach their full potential of your business you will need an overall strategy including a Business Plan for Contractors 10. And of course Cheap Bookkeeping is the one area where short term savings is overwhelmed by making bad decisions based upon inaccurate QuickBooks reports Trade contractors - QuickBooks Setup For Plumbers, Electricians, HVAC, Flooring, Sheetrock, Painters, Landscapers and others: 1. You use QuickBooks to track all the costs and generate Simple Invoices which can then be input into QuickBooks Premier Contractor Edition 2. Your QuickBooks setup for the Chart of Accounts is usually focused Goods Sold Accounts (COGS) to allocate project costs 3. You will need to pay close attention to the Five Key Performance Indicators (KPI) to monitor the financial health of the business because your sales cycle is so short 4. You will need 500 to 2,500 Items in your QuickBooks setup to track all the costs of the construction process from beginning to end 5. This is the fourth most difficult QuickBooks setup is the Premier Contractor Edition because there is a mix of Direct, Indirect, COGS accounts 6. You day to day input is also the third most difficult and to be done properly requires accounting staff with specialized training in construction accounting 7. You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs 8. Our experience has been your group generates the most stable income and you are not as sensitive to the ups and downs of the new construction market 9. In order to reach their full potential of your Trade Construction Business you will need an overall strategy including a Business Plan for Contractors 10. And of course Cheap Bookkeeping is the one area where short term savings is overwhelmed by making bad decisions based upon inaccurate QuickBooks reports Service and Repair - QuickBooks setup for companies like drain cleaners, emergency service electricians and others: 1. You use QuickBooks setup needs to be able to track all the costs and generate Simple Invoices which can then be input into QuickBooks Premier Contractor Edition 2. Your QuickBooks setup for the Chart of Accounts is usually focused Goods Sold Accounts (COGS) to allocate project costs 3. You will need to closely monitor the daily changes in the Five Key Performance Indicators (KPI) to understand the financial health of your business 4. Your QuickBooks setup will need between 500 to 2,500 Items setup to track all the costs of the construction process from beginning to end 5. This is the fourth most difficult QuickBooks setup for Premier Contractor Edition because there is a mix of Direct, Indirect, COGS accounts 6. The day to day input is also the third most difficult and to be done properly requires accounting staff with specialized training in construction accounting 7. You will need a simple yet effective way to keep track of retention and your QuickBooks expert in construction accounting can set it up to meet your needs 8. Our experience has been your generates a very stable income because you are not as sensitive to the ups and downs of the new construction market 9. In order to reach your full business potential you need an strategy including a Business Plan for Contractors 10. And of course Cheap Bookkeeping is the one area where short term savings is overwhelmed by making bad decisions based upon inaccurate QuickBooks reports QuickBooks Setup - By a QuickBooks expert in construction accounting to work specifically for contractors on whatever year and version of QuickBooks you own because we have worked with QuickBooks since it first arrived in the early 1990's in DOS. Having Used - A number of accounting programs over the years we believe when your QuickBooks setup is done correctly is the best, hands down, no contest! for the construction trades the tiny amount of money difference between QuickBooks Pro and QuickBooks Premier Contractor Edition is worth the investment for the additional a Contractor Reports alone. Upgrading every year is a “no brainer” because of all the new features and if a contractor’s construction accounting staff only saves only 10 minutes a day the savings will more than pay for the program. Our mission is to “Help Contractors Achieve Their Definition Of Success”. Which means we work with them and support them no matter what version of QuickBooks they use. We have observed contractors who use QuickBooks Premier Contractor Edition simply make more money. We Contract - With An Intuit Authorized Commercial Host company that allows us to access QuickBooks Desktop Version Online. The good news is they are great at providing 24/7 access to client QuickBooks files and nightly backup. The other news is that we need staff that is skilled in construction bookkeeping and accounting and other staff that is very experienced with Microsoft Windows Explorer File Structure because we have to upload, setup, monitor and maintain the QuickBooks data, paperless documents and internal file folders for each client. The great news is that from our client’s point of view everything just works fast and easy so they love it! It Is Like - Having a red carpet lease for your car. The manufacturer (Intuit) makes and sells the product and the contractor buys it (QuickBooks) parks it in our garage (Hosting Service) where our mechanics keep it tuned up and running smoothly (Microsoft Windows Explorer Specialists) and the chauffeurs (construction bookkeepers and accountants) drive the transactions and paperwork into it so the contractor can enjoy the ride (passenger) and generate useful KPI Reports anytime day or night and we help them understand and use the KPI Reports That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services. Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant 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+    We Remove Contractor's Unique Paperwork Frustrations Our Workflow Removes Your Paperwork Frustrations For Contractors Who Prefer To Do Your Bookkeeping Fast Easy Accounting Do-It-Yourself Construction Accounting Store Is Open 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   Short List Of Construction Contractors We Serve Asphalt ContractorAsphalt Contractor Brand New ContractorBrand New ContractorBrick And Stone ContractorBrick And Stone ContractorCabinet Installation ContractorCabinet Installation ContractorCarpentry ContractorCarpentry ContractorCarpet And Tile ContractorCarpet And Tile ContractorCommercial Tenant Improvement ContractorCommercial Tenant Improvement ContractorConcrete ContractorConcrete ContractorConstruction EmployeesConstruction EmployeesConstruction ManagerConstruction ManagerConstruction Support SpecialistConstruction Support SpecialistCustom Deck ContractorCustom Deck ContractorCustom Home BuilderCustom Home BuilderDemolition ContractorDemolition ContractorDrywall ContractorDrywall ContractorElectrical ContractorElectrical ContractorEmerging ContractorEmerging ContractorExcavation ContractorExcavation ContractorFinish Millwork ContractorFinish Millwork ContractorFlipper House ContractorFlipper House ContractorFlooring ContractorFlooring ContractorFoundation ContractorFoundation ContractorFraming ContractorFraming ContractorGeneral ContractorGeneral ContractorGlass Installation ContractorGlass Installation ContractorGutter ContractorGutter ContractorHandyman ContractorHandyman ContractorHot Tub ContractorHot Tub ContractorHVAC ContractorHVAC ContractorInsulation ContractorInsulation ContractorInterior Designer ContractorInterior Designer ContractorLand Development ContractorLand Development ContractorLandscape ContractorLandscape ContractorLawn And Yard Maintenance ContractorLawn And Yard Maintenance ContractorMasonry ContractorMasonry ContractorMold Remediation ContractorMold Remediation ContractorMoss Removal ContractorMoss Removal ContractorPainting ContractorPainting ContractorPlaster ContractorPlaster ContractorPlaster And Stucco ContractorPlaster And Stucco ContractorPlumbing ContractorPlumbing ContractorPressure Washing ContractorPressure Washing ContractorRemodel ContractorRemodel ContractorRenovation ContractorRenovation ContractorRestoration ContractorRestoration ContractorRoofing ContractorRoofing ContractorSiding ContractorSiding ContractorSpec Home BuilderSpec Home BuilderSpecialty ContractorSpecialty ContractorStone Mason ContractorStone Mason ContractorStucco ContractorStucco ContractorSubcontractorSubcontractorSwimming Pool ContractorSwimming Pool ContractorSwimming Pool And Hot Tub ContractorSwimming Pool And Hot Tub ContractorTile And Carpet ContractorTile And Carpet ContractorTrade ContractorTrade ContractorTree ContractorTree ContractorUnderground ContractorUnderground ContractorUtility ContractorUtility ContractorWaterproofing ContractorWaterproofing ContractorWindow ContractorWindow Contractor Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up TemplatesSolopreneurQuickBooks Chart Of AccountsFree StuffQuickBooks Item Lists TemplatesConsulting We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950   Additional QuickBooks Templates, Resources, And Services QuickBooks Set Up Templates   Solopreneur QuickBooks Chart Of Accounts     Free Stuff QuickBooks Item Lists Templates     Consulting   We Serve Over 100 Types Of Contractors So If Your Type Of Company Is Not Listed Please Do Not Be Concerned Because If You Are A Contractor There Is A Good Chance We Can Help You! Call Now: 206-361-3950 If you are a blogger, who writes about construction we would like to hear from you. https://www.fasteasyaccounting.com/guestblogger        

v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} This Podcast Is Episode Number 0077 And It Will About How Outsourced Bookkeeping Saved A Remodel Contractor's Company Over the years I have spoken to hundreds of contractors about backing up their QuickBooks Some contractors have acted on the idea, and others, not so much. There are two kinds of contractors who use computers: Those who have yet to experience fire, flood, theft, bad bookkeeper or hard drive crash Those who have and are now passionate about spreading the word about backups This particular contractor is one of the nicest, gentlest and friendliest people you will ever meet; typical of all good contractors! He is a large and powerful man having worked in construction for over 30 years. Let just say he knows how to communicate in a gentle but firm way to get his point across to his employees and trade contractors. He was not particularly interested in the fact that we have remote servers and that our clients QuickBooks files are backed up every night. --------------------------------------------------------------------- Here Is How It Works: We Provide Online Access To QuickBooks Desktop Version And More:· Fully functioning Quickbooks desktop version· Exporting to Excel and/or Word is part of the service· Print anything directly from QuickBooks, Word or Excel on your own printer QuickBooks Desktop Version can be accessed from any Internet connection QuickBooks Runs On High-Speed Servers In A Building With Armed Guards And Highly Trained Technicians QuickBooks file backed up every night on a secured server English speaking, U.S. Based tech support for server support We maintain and support your QuickBooks data file and reports QuickBooks software maintenance updates are automatically applied --------------------------------------------------------------------- Being A Gentleman - He listened politely while I told him all about the benefits of having his QuickBooks backed nightly and the fact that he could get to his QuickBooks from anywhere there was internet connection. Once I shut up he let me know he decided to hire our services because we could get his bookkeeping on track and help him build his construction business. The rest was nice but not very important since he did not plan on having any fire, flood, theft, bad bookkeeper or hard drive crashes. A Short While After We Began Working Together Tragedy Struck! He Sent The Following Email: "On July 27, 2008, Sunday evening around 6:30 pm my girlfriend and I just got home from an overnight hiking trip. When we arrived home we had discovered that we had been robbed. We immediately called 911. As we walked through the house we discovered that our computer was gone along with many other valuables. The computer had all the company business on it. QuickBooks, invoices, all the subcontractors’ info, and everything to keep the company books. We were at a loss for what to do. But as luck would have it, we had Randal DeHart as our accountant. He had all our info on a back-up system somewhere in a huge server. So we called Randal to let him know that we would get a new computer as soon as the insurance company paid us. Randal called us the next day, July 28th, 2008 and told us to come to his office. To our surprise he had gone to Office Depot and purchased a new computer and loaded it with QuickBooks and restored all our business information. We are so appreciative that Randal had our backs, so to speak. We had told him that we would pay him for the computer as so as possible. But you know what he said………. “No thanks are necessary and that if we just Pay-It-Forward, that’s all he asked.” How’s that for a Good Accountant?" ---------------------------------------------------------------------Replacing computer equipment is not standard operating procedure for us; however, in this case he really needed help to continue operating his construction company. It is one thing for us to say we really do care about all contractors and quite another to demonstrate it. I hope this real life story in this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person. We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!   That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0074 And It Will About The IRS And Your Contracto QuickBooks File Will Your QuickBooks File Stand Up To An IRS Audit? Bad Construction Bookkeeping Practices Raises Red Flags As A Contractor You Get - A lot of attention from the local, state and Federal tax agencies because by nature you spend most of your time standing up, moving around, building, remodeling, repairing, maintaining stuff that makes civilization possible; and not enough time and energy on your construction bookkeeping. Construction Accounting And Bookkeeping - Involves a lot of sitting, intense reading, boring, routine, mundane work and a whole lot of continuing education classes and seminars. It is like flying an airplane, 98% boredom with 2% sheer terror! So You Tend - To put it off as long as possible or find a cheap bookkeeper and both options end in pain and tears. It Is Old News - To most accountants that the Internal Revenue Service (IRS) can ask for an EXACT COPY of your QuickBooks file and that they have been training some of their staff in how QuickBooks works so they can get better at helping you pay your fair share of taxes. If You Are Interested – In learning more please visit www.FastEasyAccounting.com/irs to download a copy of a letter sent from the IRS sent to Patricia Thompson Chair of The American Institute of CPA's on April 20 2011. First And Foremost - Compliance with the laws, rules and regulations makes sense and spending your time and effort, earning money is where it is at and we know you feel the same way. As A Contractor - You deserve to be wealthy because you add value to other people's lives. When you focus your time and energy on your construction company's core competencies you earn more money; it is just that simple. You are paid for your construction work; you don’t make money doing bookkeeping. When You Spend Time - On bookkeeping it is like a Nickel holding up a Five Dollar Bill! It makes no sense to try to save Nickels when you can be earning Five Dollar Bills instead. When You Don't Have - Construction jobs to work on you can work on your Business Strategy which is One Hundred Dollar Bill work because you are the only one who can do that work! We can mentor you through the process. If you are interested in learning how please visit www.FastEasyAccounting.com/cs S.W.O.T. Strengths, Weaknesses, Opportunities, Threats - When your construction company earns a lot of money it is because you are focusing on your Strengths. Those Jobs You: 1. Love doing and wake up energized2. Have a reputation for being good at3. Have mastered the tips and tricks4. Have all the tools and equipment5. Have fun doing and time flies by Outsource - Everything that does not directly affect your customer’s experience over to companies whose core competency is doing those things. The time, money and effort you save can be used to make you even more money. Shift The Time And Energy - You were spending on the things you outsource into innovations that add value to your prime customer and watch your construction company grow and prosper. Audits Are - A fact of life; do your best to have a clean set of QuickBooks, set aside money in a separate bank account and pay your taxes on time, do the right thing and you will sleep good knowing you deserve to be wealthy because you add value to other people's lives. Let Us Handle - Your Construction Accounting and Bookkeeping and focus on what you do best. You Can Have - 24/7 online access to your desktop version of QuickBooks and we can arrange for a scanner to be placed in your office so that no bookkeeper comes to your office. P.S. If You Are - Have tax issues, behind on tax payments or have unfiled local, state or Federal tax returns contact us and we will do our best to help you. Please understand we play the tax game on the straight and narrow and we have found ALL TAX AGENCIES willing to work some kind of payment plan as long as your intent is to get on the straight and narrow. That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

v\:* {behavior:url(#default#VML);} o\:* {behavior:url(#default#VML);} w\:* {behavior:url(#default#VML);} .shape {behavior:url(#default#VML);} This Podcast Is Episode Number 0074 And It Will About Our Contractors Accounting Services Unique Differences Normal 0 false false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} Aren't All Bookkeeping Services The Same? That's a fair question and one I can respect because on the surface every business, industry and service provider appears to be the same. Coffee is coffee isn't it? Coffee from Starbucks could be said to be ground up coffee beans that have been mixed with hot water and how can that be any different than coffee from the machine that sits in the corner of the Greyhound Bus terminal? Wine could be said to be grapes pressed, aged and put into a container. What makes Inglenook Cabernet Sauvignon NAPA Valley, 1941 worth more than wine under $5 at Trader Joe's? Long ago in a bike shop near Greenlake in Seattle, Washington I went shopping for a bike helmet and asked the clerk for a "cheap helmet" because in my mind all bike helmet were the same and I was not about to be ripped off. He had a profoundly simple answer: "If You Have A $10 Head Buy A $10 Helmet" He said it with a deadpan face, no expression and he acted as if he could not care less about what helmet I purchased. I remembered something my Step-Father used to say "Buy the best you can afford and cry once, rather than buying the cheapest and crying about it not doing what it was intend to do forever." He was a simple man without a lot of formal education and yet one of the wisest men I have ever known. I purchased the most expensive helmet I could afford and it saved me from experiencing several injuries over the next few years. Over the years I have put into practice a lot of the words of wisdom my Step-Father offered and I can say with 100% assurance his advice about buying the best you can afford has helped me make a lot of money because every time I buy the best it has been the cheapest in the long run and generated a lot of dividends. If you are thinking about delegating your contractors bookkeeping to someone I would like to make a case for why you should hire the best bookkeeping service you can afford regardless of whether or not it is us because we may not be the best choice for your contracting company. Six Important Questions To Ask All Bookkeepers And Bookkeeping Service #1 - What do you know about construction accounting? This is a simple question and the answer should tell you a lot. Go deeper ask about how they handle Work-In-Process (WIP), Retention, Job Deposits, Maintenance Agreement Tracking, Change Order Tracking, Payment Applications. If you want more in depth questions click here.We have a contractors bookkeeping system that handles all of this and more. #2 - Who will be doing the bookkeeping and how current is their education? Do they work alone? Do they have the 10,000 hours of training and practice it takes to be good at construction accounting? Will you be putting your entire company in the hands of one lonely bookkeeper who is doing everything in their own business trying desperately to stay afloat? Answering their business and personal phone calls, selling new work, running errands, maintaining their own company infrastructure, checking email, going crazy trying to do everything required to own and operate their own business and if there is any time left over they will handle your bookkeeping. What happens to your company bookkeeping records when they get sick, go on vacation, get to busy or just plain quit? We have a team of people so that no one person is responsible for everything with checks and balances in place so that if something does slip through the cracks we have processes to find and fix them. #3 - Do You Have A Commercial Office Space? If the bookkeeping service has Commercial office space it is because their contractor clients like and trust them and that translates into earning enough revenues to support and office. Bookkeepers who work from home put their contractor clients at risk of losing paperwork to children, friends, relatives and competitors who will be in their homes on a regular basis and everyone is naturally curious. #4 - What Is Your Recovery Plan In Event Of A Disaster? What would happen if a flood, fire, landslide, earthquake, burglary or any other event wiped out the bookkeeper's place of business? Do they have a contingency plan in place to restore your contracting company records and if so how long would it take? Or are they just hoping nothing will happen? Worse yet have they never even considered it? If Your Company Records Are Destroyed You're Out Of Business! We have a contingency plan. Everything backed up offsite at a minimum of 1,000 miles from our headquarters in Lynnwood Washington but inside the U.S.A. All of our live QuickBooks files are resting on an Intuit Approved Commercial Hosting Services Provider. They backup everything offsite everyday. This means every bit of work on your QuickBooks file is saved automatically the split second we finish pressing a key on one of our keyboards. No fuss, no muss, no having to think about it. All important documents we receive are uploaded into secure paperless servers a minimum of 1,000 miles from our headquarters in Lynnwood Washington but inside the U.S.A. One of our contractor clients experienced the need for this service first hand. Here is his story in his own words:---------------------------------------------------------------------------------------Remodel Contractor - Edmonds, WA "On July 27, 2008, Sunday evening around 6:30 pm my girlfriend and I just got home from an overnight hiking trip. When we arrived home we had discovered that we had been robbed. We immediately called 911. As we walked through the house we discovered that our computer was gone along with many other valuables. The computer had all the company business on it. QuickBooks, invoices, all the subcontractors’ info, and everything to keep the company books. We were at a loss for what to do. But as luck would have it, we had Randal DeHart as our accountant. He had all our info on a back-up system somewhere in a huge server. So we called Randal to let him know that we would get a new computer as soon as the insurance company paid us. Randal called us the next day, July 28th, 2008 and told us to come to his office. To our surprise he had gone to Office Depot and purchased a new computer and loaded it with QuickBooks and restored all our business information. We are so appreciative that Randal had our backs, so to speak. We had told him that we would pay him for the computer as so as possible. But you know what he said………. “No thanks are necessary and that if we just Pay-It-Forward, that’s all he asked.” How’s that for a Good Accountant? ---------------------------------------------------------------------------------------#5 - Can I Get To My QuickBooks File While You Have It? With our contractors bookkeeping service you can access your QuickBooks file anytime anywhere 24/7/365 with any web-enabled device including iPhone, iPad, PC, Smartphone, Tablet. You can generate reports and do almost anything you would do if it was on your desktop except keep it updated with the latest software patches because that is done for you automatically. And you can access MS Word and MS Excel desktop version as well. QuickBooks Is 1,000+ Miles Away Running On High-Speed ServersTucked Securely In A Building With Armed GuardsWith Highly Skilled Technicians Maintaining It All QuickBooks Files Are Backed Up Every Night On A Secured ServerAccess Windows QuickBooks Desktop Version From PC or MacEnglish Speaking, U.S. Based Technicians Maintain The ServerQuickBooks Software Updates Are Automatically Applied We Provide Your QuickBooks Maintenance And Support An added bonus you can create an invoice using your Smartphone and email it to your customer and they can pay you via credit card before you leave the jobsite! Click Here To Learn More #6 - How Do I Get Paperwork To You? As a contractor your time is precious and limited so the more ways to get paperwork to your bookkeeper the better. Any bookkeeper or bookkeeping service that only has one option which is you to bring it all too them costs you time and money and why should you bear the burden? Worse yet are the bookkeepers who want to "Come to your home or office" and either pick up the paperwork or do the work on your computer. This is never a good idea on so many levels, not just the liability exposure of someone injuring themselves on your property and you being liable. What happens if they wipe out important files on your computer or spill coffee on it and fry everything? The risks far outweigh the benefits. We offer several options to get paperwork to us and you don't even need to organize it because we have a system from having owned and operated several construction companies in the past. You Can Put It All In Boxes, Bags Or Cartons: · Send it by taxi cab· Send it by messenger service· Fax it· Email it· FedEx It· UPS it· In some case we will send someone to get it· Mail it to us 19909 64th Ave West, Suite 201 Lynnwood, WA 98036· Bring it to our office during regular office hours or our special office hours for contractors· Members of The SnoKing Contractors Center have 24/7/365 access to meeting rooms and leave paperwork in the lockbox· Put us on your vendor list to have bills and statements emailed directly to us· Drag and Drop from your desktop or email. Click here to find out how· Use one of our recommended scanners and send paperwork by pushing one button· Take a picture with your iPhone or Smartphone and email it to us· Scan it and it will automatically be uploaded to our paperless server We have a Construction Bookkeeping System with documented workflow processes for everything including paper sorting. Which means once it arrives no matter how organized or disorganized it is we need to pre-process everything before it enters our workflow where it is scanned and uploaded into paperless servers in the cloud. Hopefully you not having to sort anything will save you time and money.Construction paperwork is like an apprentice; left unattended it tends to wander off and get lost so here are a few helpful hints where paperwork hides In The Contractors Mobile Construction Office Command Center, The Truck: · On the dashboard· Behind the seat· Under the seat· In the console between the seats· In the glove box· Under the spare tire· In the box you got from the supplier warehouse Outside Your Mobile Office: · In you post office box· Stuffed in manila envelopes· On the night stand· Piled on your desk· In your wallet· Inside your portfolio· Stuffed in all your pants pockets· In your computer bag· Stuffed in all your shirt pockets Coffee stained paperwork is optional. We prefer a dark roast, double foam, shot of mint, with a hint of cinnamon. However, plain old black coffee is O.K. too! Don't be concerned about where the paperwork has been when we owned and operated our plumbing service, repair and drain cleaning company we had seven trucks and over twenty employees. We processed paperwork that had been places you can only imagine with no problem. Don't sort the paper and let it aggravate you just get a big box, file box, and scoop it all into the box, close the box, bring us the box. To you, the contractor, every piece of paper has a story. In fact we prefer you not pre-sort any of it because in the end it will save us time and money. You can put it all in a bag, box, ox cart or whatever works for you and bring it in. You can fax it, email it, scan it into our paperless server, again whatever works for you! This means every time you touch it, see it, sort it, smell it, put it into QuickBooks for Contractors or just look at it your protective conditioned mind and its fear creating mechanisms will replay the entire story which will slow you down and in turn drag out the entire construction bookkeeping process. Furthermore it could possibly release serotonin which causes the blood vessels in your head to contract and lower your pain threshold. It's a fact that doing something you don't like or understand like construction bookkeeping can be painful and in the end when you try to "Power Through The Pain" like Olympic athletes you end up losing money because after powering through the pain you typically do not have the luxury of a vacation and rest period you have to go see that next customer, close the next sale or manage the next job and when you are not at your peak performance you lose, big time! Your Contractors Bookkeeping paperwork has been over handled long before we get it and since we don't have any emotional attachment to we can reduce input time by at least 40% and we pass the savings on to you so that everybody wins. That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0073 And It Will Be Leveling Up Makes Contractors Wealthy Your Thinking - Patterns and what you think about the most is why you are where you are now. It is worth noting there is no profit in chaos and the sooner you understand that the better. It May Be Too Late - To recoup past losses from chaos but it is not too late to stop it from happening again. To begin with get a clear understanding of What Ten Minutes Costs Your Company and begin implementing a Business Strategy to eliminate chaos. When You Have - A Business Strategy for your construction company everything changes in your life and your construction company because you will see everything in different light. You May Find - Yourself with a different caliber of friends because of the leveling up process. Birds And People - Flock together with others like themselves because it is comfortable. It only makes sense to soar with eagles rather than keeping your head down pecking at the ground with the chickens. Your Income - Is typically within 20% of the average of the six people you spend the most time with. Leveling Down - If you spend most of your time at the “Contractors Business Round Table”, this is a little round table in a tavern with a pitcher of beer and several contractors all earning $40,000 a year or less telling each other how to run their businesses then your income will hover between $32,000 and $48,000 (20% plus or minus $40,000).Leveling Up - As you develop your Business Strategy your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different. You Will Attempt To - Share your discoveries with your existing friends and you will quickly discover they are not interested! After a while, your constant attempts to change their paradigms will irritate them and you will drift away or be asked to leave. The Next Thing - That normally happens is you will be drawn into a different circle of construction business owners who already know what you now know. Since The Six People - You spend the most time with now are earning $100,000+ a year what do you suppose your income? There is a good chance it will grow and you could have a million dollars of wealth someday. Einstein Has Proven - Energy and matter are the same thing in different forms; therefore you will become what you think about. And what you think about will influence your thoughts, which will influence your actions which will influence your wealth, which you will use to raise everyone's standard of living because the Rising Tide Raises All Ships. This Applies To Your Employees - As well as you. Top notch construction companies are always on the lookout for the best and the brightest staff to add to their team. 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! If you would like to learn about what makes construction accounting different from regular accounting please visit www.FastEasyAccounting.com/caPlease feel free to call Sharie 206-361-3950 or [email protected] and schedule your no charge one-hour consultation. That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0072 And It Will Be About Why Good Tax Accountants Make Bad Contractor Bookkeepers Tax Accountants - Can kill more cash flow and profit in your construction company in less than an hour using a messed up QuickBooks file to prepare your construction company annual tax return than you can make up for in sales and hard work six months, if not six years. Saving money on your tax bill is not what they are paid to do; they are paid to fill out tax returns. This Is Not A Bad Thing - Rather it is a simple fact of business, people and companies do what they are paid to do. Tax Accountants also do not form, place and finish stamped concrete driveways at high noon on a hot summer day and they do not frame houses or rough-in plumbing, electrical or HVAC for the same reason; that is not their primary skillsets and they are not paid to do it. Professional Accountants - Understand the relationship between QuickBooks and the Internal Revenue Service, IRS and the importance of paying the right amount of taxes; however, most construction company owners do not understand this relationship until it is too late and they have to turn messed up QuickBooks over to the IRS auditor. Read More.. Tax Accountants - Are good people and have their place; however, not involved with regular accounting, bookkeeping or even worse contractors bookkeeping and accounting. Construction Accountants - Should not be preparing annual tax returns because nobody can serve two masters. Either be a tax accountant and serve the tax collection agencies or be a construction accountant and serve contractors. How Many Times Have You - Hired a construction worker with the expectation they understood how what to do and then found out they did not have a clue? It happens all the time and the first thing that crosses your mind cannot be posted on this blog. The next thing you do is take action and fix it! How Many Times Have Accounting Firms - Hired what appeared to be a Professional Bookkeeper only to discover they had all the traits of a Bad Bookkeeper? It happens all too often and action is taken to fix the problem! You Have Mastered Construction - So you knew what to look for and very quickly you knew if someone has the skillsets you need or not. We Have Mastered Construction Accounting - So we know what to look for and very quickly we know if someone has the skillsets we need and we proceed accordingly. You Know What Happens - When you send your best Rough Carpenter that you pay piece work for framing spec tract houses from the ground up in all kinds of weather and working conditions to install some custom made cherry wood cabinets with gold plated pulls and knobs in the home of your best client who happens to live in the wealthiest neighborhood in your town and it is not a pretty sight, is it? Rough Carpenters - Are good people and they know what they know; which is why he will arrive at your best client's home wearing muddy work boots, wearing bib overhauls, smoking a cigarette, un-shaven, with an attitude, and walk across the white plush carpet while carrying a heavy duty fifty foot power cords, a five gallon bucket full of rough carpentry tools including a worm-drive circular saw and a sazall with an 18 tooth blade. He is exactly the person you need to get spec tract houses framed, on time, on budget! Enough said? For more on this see Construction Psychology. Tax Accountants - Operate like Rough Carpenters because they work fast and furious and they are paid piece work. The main difference is they earn the bulk of their income for the year in three and one-half months. This means they do not waste any time going through your receipts to make certain you get all the deductions you are entitled too. The Dirty Little Secret - Is most tax accountants have software that gets the numbers from QuickBooks or whatever system you are using and it puts it directly into the tax form. Which Means - If your QuickBooks Is Setup Properly and all the transactions are input correctly you could save you some serious money on your tax bill because the tax preparation software will find most if not all of the deductions you are entitled too. You Must Understand That Saving You Money - On your tax bill is not what they paid to do; they get paid to fill out as many tax returns as possible is shortest amount of time during the harvest season between January 1 and April 15th. If Your QuickBooks - Is a mess they might recommend a Cheap Bookkeeping Service working out of their home who will put everything into QuickBooks in a way that makes it easy and quick for them to prepare the tax return with little or no regard for saving you money on your tax bill. If They Really Care - About you they will recommend a construction accounting firm like us. We get referrals from professional tax accountants and we refer annual tax preparation work back to them. The Following Is From One Of Our Clients:--------------------------------------------------House Builder Mukilteo, WA "Having paid another accountant machos bucks only to find a wacko bottom line that even I knew wasn't accurate----I was elated after working  with Business Consulting and Accounting.Randal is knowledgeable and friendly  and I find his expertise invaluable.  He has been readily available and  happy to share stories in order to enrich my learning.My books are now in tip-top shape, and I have ultimate confidence in my  bottom line. Too bad I didn't know about their services earlier; I could have  saved myself a lot of grief." Read More...-------------------------------------------------- We Do Not Prepare Annual Tax Returns - For two reasons. Number one, we are focused on maintaining our status as the premier contractors bookkeeping and accounting specialists in the world. Number two we firmly believe in "Trust But Verify" by keeping contractors bookkeeping and accounting separate from tax preparation and having a Board of Advisors watching over each other and your construction company. Read More.. Just So You - Don't think we are being too hard on tax accountants please understand that we have great relationships with a lot of tax accountants. In fact we have tax accountants review our QuickBooks and prepare our business and personal returns for over thirty years and we refer a lot of business to a variety of tax accountants. That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This Podcast Is Episode Number 0071 And It Will Be About My Step Father's Inspiration Why I am producing this podcast is because it occurred to me that I may be coming across as a bit stern and serious. The reality is I am simply a Great Big Teddy Bear that loves accounting and helping contractors achieve their definition of success and anyone who has anything to do with building, remodeling or maintaining our homes and businesses. I was raised in a construction family in Seattle Washington in a quaint little house in the Interbay neighborhood, nestled in between Queen Anne to the east and Magnolia to west. It is also home to a railway switchyard which means in the 1960’s it was a great place for a young man to have some “Character Building Experiences” as it was a rough and tumble, tough and gritty place to hang out. My Step Father was a Landscape Contractor and he was my inspiration for going into construction and later becoming The Contractors Accountant. This is his and my story of how it happened. As I attend networking events and mastermind meetings, I hear a lot of information from good people with good hearts with less than favorable opinions of contractors. These folks have not been blessed with the opportunity to really get to know contractors. Therefore, those folks are the ones I have written this article for and if you are a contractor please continue reading and everyone is welcome to leave a comment if you are so inspired. I produced this podcast to give an insight into contractors. Perhaps as you get to know me you will understand other contractors better and really get to know the men and women who make civilization possible. What I do and why I do it...every chance I get….but only on days that end in “y”  like Monday, Tuesday, Wednesday, Thursday, Friday and Saturday is find ways to be of more and better service to all contractors and it does not matter if they are a client or not. Perhaps you can relate to this story in your own life. For further insights, I have an entire section of this website devoted to Construction Psychology. You can learn more at www.FastEasyAccounting.com/cp My stepfather was my inspiration. He was average height, weight and build born in the early 1930's and raised on a farm in the heartland of America. He started a construction related firm offering handyman services and landscaping in the 1940's and retired in the 1990’s having owned and operated it for over 50 years. He was a Salt of The Earth Contractor as described later in this profile because he worked practically every weekday and the occasional Saturday all of those years, only taking Sunday off as instructed. He made sales and did the work even though he was born with severe physical handicaps. He exemplified the concept “In life you produce reasons or results, and reasons don’t count.” I first met him shortly before he met and married my mother in 1965. Subsequently I worked in the family business and every week, and sometimes more often he would encourage me, very strongly, to go to college and if I still wanted to be involved with construction that would be O.K. It was several years out of college before I understood the differences between regular accounting and construction accounting and had to repeat the Four Levels of Learning again. During those years, he passed on his protestant work ethic and the importance of “keep-on-keeping-on” with a type of Winston Churchill attitude of “Never Give Up.”He led by example by never quitting when it rained, snowed, bitter cold or blazing heat. When the ground was so hard it required a pick & shovel, or the rocks weighed several hundred pounds and needed be moved with a long steel bar he applied more brute strength as needed. The man worked in all kinds of tough nasty conditions. He always made enough money to keep a roof over our heads, food on the table, and clothes on our backs; however, he never made a lot of money, which means I learned how to live well and be happy no matter what the income level. He taught lessons of self-reliance and self-sufficiency by the way he lived. Even now when I read Emerson’s essay on Self Reliance I visualize him and can see the determination and strength of character in his face. His favorite book was “The Basic Instructions Before Leaving Earth” also known as The Holy Bible. It had a strong and positive influence on him and helped shape his views and it is my favorite book as well. Yes, I am one of those Christians, not perfect just forgiven and I do the best I can with what I have been given. Since I have more than enough work keeping myself on the straight and narrow you can rest assured that I have no interest in influencing your beliefs. For the record, I serve all contractors regardless of their race, creed, sexual orientation or religious beliefs because I strongly believe we need more cooperation and less competition in this world. I take comfort knowing that in the end, everything will work out and if something has not worked out it is not the end. While I was growing up my step father never seemed very smart or bright and in my arrogant sophomoric opinion, “he just didn’t get it.” However, the Universe has a sense of humor and It allows me to continue my education by taking many tests and learning the lessons It has prepared for me. Its patience is endless because It allows me to repeat the tests until I finally learned the lesson. Then a new test appears and the cycle is repeated endlessly, test, and learn, test, and learn. A wonderful test presented Itself when I met a wonderful young lady Sharie while attending Queen Anne high school. We graduated in 1972 and were married in 1973. As of today we have been married just over 40 years; however, it feels like only 2 years. We moved into our first apartment and the Universe presented me with a brand new test, which I named “do I understand it yet?” The arrogant sophomore in me began to grow up and understood life at a new level and I reverted to being a Freshman. Suddenly I had to provide ALL the money to keep a roof over our heads, food on our table, and clothes on our backs. At that moment in time my step father became the wisest man on earth and for the first time I understood he "did get it" all along and in fact he was simply waiting patiently until I got it…and I got it…real good and real fast! A large part of what shapes my passion for providing consulting and accounting services for contractors is out of love and respect for my stepfather and how he ran his business. I will be eternally grateful to him for the lessons he passed on by the way he lived his life. Over the years, I have been privileged to work with many contractors and have developed several observations that I call Randalisms. This one is The Three Types of Contractors: #1 Dog And Pick-Up Truck Contractor This is a Contractor with a pick-up truck and the dog sitting in the passenger seat hanging his head out window enjoying the fresh air while watching the world go by. This contractor enjoys the freedom of doing what he wants, when he wants, and how he wants and does not need or want to expand and grow his or her business or be bothered with employees. Annual net profit after all expenses roughly $20K to $40K #2 Salt Of The Earth Contractor This Contractor wants to expand and grow their business in order to have more free time and perhaps even put money away for retirement. This contractor has three employees. They hold two of them by the throat; one in each hand, and eyeballs the third one. This is only a “word picture” and not to be taken literally. Annual net profit after all expenses roughly $40K to $60K #3 Professional Contractor This Contractor has one to twenty employees, a formal documented business plan which is updated and reviewed regularly with a board of advisors as outlined on our web page Board of Advisors They focus business resources on serving the segment of the construction market where they are most profitable. In addition, they understand what business they are in.....and I will give you a hint....it is not contracting. They know the importance of doing what they do best and outsourcing the rest as outlined on our web page Outsourcing. Annual net profit after all expenses roughly $100K to $1,000,000+ In conclusion, if we ever have the pleasure of meeting at a networking event or any other occasion perhaps this short profile will offer some insight as why my passion for the construction industry and contractors is so strong.  Sharie and I love contractors and have made it our mission in life to help as many of them as possible achieve their definition of success be it Dog And Pickup Truck, Salt Of The Earth or The Professional. We love them all! That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This podcast is episode number 0070 and it will be about having a Board of Advisors for your construction Company Large Enterprise Level National And International Construction Companies have a Board of Directors to develop and oversee the Strategic Objectives of the company. They can provide insights from a very high level top down view because the board members are already skilled in running similar firms, which means they know how to navigate the treacherous waters of the difficulties in the construction industry. This one thing can dramatically improve your quality of life and everyone around you because it is part of the BPM, which is helping you go from working IN your company to working ON your company. Follow This Step-By-Step Process: #1 Find A Commercial Banker You Can Work With Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The good news they are on the banks payroll. Tell them you are working with a construction accountant that is involved with the bookkeeping and accounting and that you have a separate firm that prepares your Annual Federal Tax Return. Bankers like to know you are using tried and true method of "Trust But Verify" to help limit fraud and errors. We recommend you have different companies doing your bookkeeping and your Annual Federal Tax Return because that will provide you with checks and balances in your system. In addition, if you need to replace one or the other it will be a lot simpler.Plan on meeting with your commercial banker monthly, quarterly or semi-annual basis whatever works for both of you. Bring two printed copies of your Profit & Loss and Balance Sheet for them to review with you. If you think a tablet will work, think again and don't bother doing it at all. Next, always keep your commercial banker updated about any major changes that may affect your business or personal finances. NEVER SURPRISE YOUR BANKER! They may be able to help you avoid a problem or avert a disaster if they know ahead of time and the credibility you will add will be priceless. Ask your banker these questions: 1. Is there anything on the financial reports I should pay closer attention too?2. How can you and the bank help me run my company more profitably?3. Who is your target customer and how can I refer new customers to you? No matter what size your construction company is now, whether you need a loan or line of credit or not, you need to understand that lending money is only part of what banks offer to help your company succeed. Many of their clients need construction services and some of them will ask their banker for referrals. Do not catch the dreaded disease I call "Yellow Fever". This Randalism occurs when Caterpillar, the world's leading manufacturer of construction equipment begins to promote their brand new shiny yellow colored backhoe or grader or heavy equipment with all the latest whistles, bells and gadgets. My advice is "Wait for it" and let your commercial banker know you are interested in some new equipment, keep developing the relationship and whamo! You could get THE CALL... "Hi Bob... how are things going? Hey, we haven't met for a while and I was wondering if we could meet for coffee because we are about to REPOSSES a piece of heavy equipment that you may be interested in? I showed the last Profit & Loss and Balance Sheet you gave me with some folks at the bank and they thought we may be able to work something out if you are interested..." The bank is does not like storing equipment, they would rather it would go from the repo man to somebody else without stopping if possible. In most cases, the price and terms they offer will be very fair so it is important to remember this Randalism "The Pig Gets Fed, The Hog Gets Slaughtered!" Negotiate a fair deal that allows the bank to get something and you get something, a win-win and you will find more great deals coming your way in the future. #2 Find A QuickBooks Expert In Construction Accounting Get a good construction bookkeeping and accounting firm and outsource as much of your construction bookkeeping, payroll processing, complex invoicing and monthly and quarterly tax reports as you can afford. It will free up time to do what you do best and your contractors bookkeeping services will keep the accounting system in order. We would like to be you construction bookkeeping service. Please contact Sharie 206-361-3950 or [email protected] Choose someone that specializes in your industry because the days of the one-size-fits-all accounting practice has gone the way of the dinosaurs.Make certain they have current technology, which means they have equipment in a secure server farm that allows you remote access to your QuickBooks desktop version on the internet. You do not want the QuickBooks Lite Online Version because you need to see the same QuickBooks software you have on your desktop now. The only difference is you have remote access anywhere you have internet connection and your construction bookkeeper can get to it from their office. No construction bookkeeping service needs to be in your office unless you invite them. Your outsourced accountant needs to provide an easy way to get the paperwork to them with fax, scanning, email, and in person. Make certain they are in an office building, not their home. A more professional environment attracts a better class of professional bookkeepers. The construction accounting office building needs to have a secure lock box that allows you to drop paperwork off 24/7/365 when it is convenient for you, not just during company hours. Obviously scanning all your paperwork into a paperless secured server and link source documents to the transactions in QuickBooks for easy retrieval later is a given. This makes it easy for you to get to it remotely, see it, print it or email it without having to dig through a file cabinet or pile of papers. Finally, they need to be available to meet with you online via GoToMeeting or in person if their office is close to you to discuss how your company is doing. They need to be able to explain in easy to understand language what your Financial Statements, Profit & Loss and Balance Sheet mean. #3 Find A Professional Annual Income Tax Return Preparer If your bookkeeping is solid, you can use any qualified tax preparer to fill in the blanks and generate the return. I used to believe only a C.P.A. could fill out a tax return. Now with the advances in technology and properly setup QuickBooks I no longer feel you need a C.P.A. for this. #4 Find A Good Commercial Attorney If you own and operate a construction company, you absolutely positively need a commercial attorney to: 1.    Setup your company entity, Sole Prop, LLC, Inc., Partnership2.    Review contracts you will ask your customers to sign3.    Review contracts you will be asked to sign4.    Keep you out of trouble wherever possible5.    Keep you out of litigation if at all possible6.    Setup your partnership agreements There are two kinds of contractors: ones who have a commercial attorney and ones who will get a one after having locked horns with somebody else's commercial attorney. A good commercial attorney will draw up employment agreements, construction contracts, review insurance policies and more. A qualified commercial attorney is worth every dime they charge. #5 Find A Trustworth Financial Planner Eventually you will want to leave your company and pursue other interests so plan your exit strategy ahead of time. You could start with Quicken software and play around with it. You can learn a lot about investing and run some scenarios that will show you how much income you will need to retire and develop an action plan. Once you have some basic knowledge get a Certified Financial Planner. If you do not have a lot of money to ask your commercial banker to recommend someone at the bank and eventually when your reserves build up get a Certified Financial Planner. That is all I have for now and if you have read this far please do me the honor of commenting and rating this article. Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This podcast is episode number 0069 and it will be about Be-Do-Have Occasionally I step out of my role as The Premier Construction Accountant and into another one of my many roles, that of a Project Manager. In 2004 on a sunny day I sat in a room for several hours and worked very quietly while laboring over the Project Management Professional exam which was administered on behalf of the Project Management Institute. www.pmi.org At the end of the exam, I was exhausted and relieved. I passed with a very high score, which meant I was now a member of an elite group of people who understand and do our best to adhere to the standards and principles of Project Management and have the internationally recognized title Project Management Professional, PMP that you may have seen after my name; Randal DeHart, PMP Roughly, 80% of Project Management involves strategy. In any effective and efficient project, strategy precedes planning which precedes work. Most failed projects can be traced back to bad strategy. It has been said, “If the grand strategy is correct then a number of tactical mistakes can be made and yet the enterprise will prove successful, yet efficient operations cannot overcome bad strategy”. Many people have been credited with that statement and I have found the most references to site The Art of War, an ancient Chinese military treatise attributed to Sun Tzu, a high-ranking military general, strategist and tactician. Strategy is all about understanding and knowing at a deep level in an ancient wise way and listening to your inner voice, that pure essence of Spirit, connected to the Infinite Universal Mind that knows all and is everywhere present. In this podcast I offer a brief insight into a concept that has served me well throughout many decades and I trust you will find value in it as well. It is short, sweet and to the point and extremely powerful when understood and applied. Be The Person, Do The Work, Have The Results In life contractors produce reasons or results and, reasons don’t count.Over the years, I have experienced massive successes and spectacular failures owning and operating construction and contracting companies. Success Always Comes fast and easy when I engage the services of mentors that are where I want to be. No one can guide you to a place they have not been and only a foolish contractor listens to them. Failure Always Comes from engaging people and companies who cannot or will not produce results but think they can fool contractors. Though the dogs (negative people) may bark the caravan, (long line of successful contractors) moves on. I bid you to choose wisely the six people you spend the most of your time with as The Leveling Process Operates 24/7/365 which means it is always refreshing and resetting your level of success. The key is to gain power over yourself, not power over others; you will become a positive force for good, and a blessing to everyone you meet and even some people you may never meet. You Deserve To Be Wealthy, Because You Bring Value To Other People's Lives! I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing, I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast. Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This podcast is episode number 00068 and it will be about why contractors bookkeepers embezzle and steal “A recent study found that business school education not only fails to improve the moral character of the students, it weakens it. ..students were asked, if given a chance of being caught and sent to prison, they would attempt an illegal act that would net them a profit of more than $100,000; more than one-third responded ‘yes’." Bad Bookkeeper Embezzlement stems from a feeling of entitlement and the need to get even. Listed below are some of the reasons bookkeepers have used to explain why they did it: #01 “I’m really not 100 percent sure why I did it. I’ve been thinking about that the last two-plus years.” #02 "I hate bookkeeping, anyway." #03 "I could use $10,000 to put a little spice in my life.'” #04 "I am not getting a fair shake at work." #05 "They owe it to me because I am the one doing all the work around here." #06 “I’ve made a lot of mistakes and now I’m forced to answer to them.” #07 "I was getting a divorce and needed to amass legal fees for the divorce and the related child custody battle." #08 "In the beginning I took a little money but when it wasn't discovered I kept doing it because I enjoyed a lavish lifestyle." #09 "Everybody does it" #10 "I needed a new car and in fact I deserved it!"It is estimated the number of bookkeepers that are caught embezzling from contractors are less than one percent of the total. In most cases the ones that are caught are rarely convicted because all too often it is the contractor who has to spend thousands of dollars on forensic accountants and attorneys to prove the theft occurred. In most cases it is near impossible to persuade the authorities to prosecute when a contractor bookkeeper embezzles because it is often viewed as a "Victimless Crime" In most cases an in house construction bookkeeper starts out with good intentions and over a course of time they become complacent and jealous of the lifestyle the see the contractor enjoying. Unfortunately they rarely experience life in construction outside the climate controlled, clean office with good lighting, real restrooms, beverages and a relatively quiet environment. For a small construction company there are simple steps you can take to help prevent embezzlement: #1 The Owner Signs All Checks - Nobody else every signs any checks. It is O.K. if your bookkeeper prints the checks, just make sure the owner signs them. #2 Three Separate Checking Accounts - One for your main operating funds, one for payroll with just over enough to clear all outstanding payroll checks and one for the owner's debit card purchases. #3 The Owner Inputs The PIN - For all payroll or payroll tax deposits. Letting your contractors bookkeeper be responsible for payroll or payroll tax deposits is like giving them keys to the kingdom and saying "Take whatever you want". #4 No Company Credit Cards - Let employees be reimbursed for company expenses. #5 Every Employee Needs Time Off - Any employee that does not want to take a holiday or a vacation may appear loyal, but there could be another reason. It is wise to check each employee's work when he/she is gone. #6 Never Let Anyone Take Work Home - You could get in trouble for not paying overtime and there is too many opportunities for copying your company files, customer or client lists and selling them with your competition. #7 Make Bank Deposits Every Day - Rain or shine busy or not. Photocopy and scan all checks and bank deposit slips and upload them to your paperless server. #8 QuickBooks Backup Copy Every Day - QuickBooks has a built-in feature that will do it automatically and there are a number of other services you can use as well. Never let the bookkeeper take a backup copy of your QuickBooks out of the office for any reason. Doing so will make it easier for them to embezzle and harder for you to claim your innocence. #9 Petty Cash - If you have a cash drawer balance it every day the same way as a bank account. Bookkeepers who develop the habit of embezzling usually start with taking small amounts, often from petty cash. Keeping track of small amounts of money can help keep large amounts of money from disappearing. #10 Keep Blank Checks In A Safe - Most office supply stores sell small safes for under $150.00 and it is money well spent. All it does is slow down and deter the bad bookkeeper. #11 Bank And Credit Card Statements - Need to be mailed to a post office box or the home of the construction company owner and opened by them. Never let the bookkeeper open any bank and credit card statements. #12 Owners Need To Verify - All check numbers, including voided ones. #13 Check References Before You Hire - And do a search on convictions (not charges). #14 Review Your Key Performance Indicators (KPI) - Every day as an internal-control check and watch for unexplained changes in the balances. #15 Don’t hesitate to call the police - If you suspect your bookkeeper is stealing. Waiting can only make it more difficult for the police and they may get the idea you are O.K. with it which could make it harder to prosecute the offender. There is a lot of work here but it could save you thousands if not hundreds of thousands of dollars. One of the best ways to limit your exposure to bookkeeper embezzlement is to outsource your contractors bookkeeping services to us because we handle all of the construction bookkeeping services chores and WE NEVER TOUCH YOUR MONEY! To discover how we help you limit and avoid most bookkeeper embezzlement please go to www.FastEasyAccounting.com/cbs. Just as it is impossible for you to be 100% safe all of the time in life, there is no way to eliminate 100% of the embezzlement in your contracting company. However, with the right preventative measures you can limit your losses and avoid most of it. 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 so stop missing out! Call Sharie 206-361-3950 or [email protected] and schedule your no charge one-hour consultation. 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 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations  

This podcast is episode number 0067 and it will be about Why It Pays To Offer Employee Advances Sometimes Construction Company Employees Need A Little Cash Between Paydays. Owning a contracting company with employees and a burning desire to generate a profit means  you need to do whatever you can within reason to help keep them focused on their job. If a need arises for cash between paydays they have several options and here are two of them: Option #1 - They get a payday loan from one of the many companies that offer that service. A typical 14-day advance of $100 will cost them roughly $15 which is approximately 391 percent annual interest rate. If they do it regularly, it can cause your good employee to get deeper and deeper in debt which means their cash flow problem gets worse not better. When do they visit the payday loan store? If they are paid for travel time to and from the jobsites they will typically do it on your time. Run the numbers and you will know it takes roughly ten minutes each way for the detour to and from the payday advance company plus ten minutes inside the store which totals 30 minutes. For Example: You pay your employee $25.00 per hour and they waste 30 minutes: Ten Minutes spent on personal business during company time costs $5.94Multiplied by three to get to 30 minutes = $17.82. If your company earns 10% net profit you need to sell $178.20 more work to make up the loss you suffered. For more on how I arrived at the numbers please visit www.FastEasyAccounting.com/ten We Live In A World Of What Is; NOT A World Of What Should Be - RandalismOption #2 - Put a process in place from your Business Process Management System (BPM) for employee loans or advances, whatever term you use to describe it. Understand the Randalism "You can be right or rich...pick one" If providing employee loans goes against your principles don't do it. If it aligns with your principles do it. There is no right or wrong answer. Never, ever charge interest on the "loan" they will not like it and they will get even. Make it Fast And Easy. Give out cash and have them sign a simple I.O.U. or write a quick note on a piece of paper or you can download a sample loan agreement at www.fasteasyaccounting.com/ela Understand that unlike a Promissory Note, where the borrower is in control of making repayments, the employer can control repayments of an employee loan. It is very important for you, the employer, to get written authorization to deduct money from any payroll check. You need to be specific about the reason for deduction; repay cash loan / advance. The employee loan or debt agreement below also makes provision for the full amount to be deducted should the employee resign. The employer would therefore be wise not to extend loans greater than the weekly / monthly salary. A more extensive agreement should be drawn up for longer term or large loans. Your labor laws may also limit deductions to a percentage of gross remuneration, so check with your local laws or your attorney before extending credit. You can download a sample at www.fasteasyaccounting.com/ela Put the paper in the Petty Cash box, give it to your bookkeeper or better yet if we are doing your bookkeeping send it to us or send us an email and we will take care of the paperwork for you. I recommend you give cash, do not write a check because they will simply visit the bank, check cashing store and cost you money like in the example above. In QuickBooks Setup An Employee Loan Process and the related report to keep track of loans and repayments. To see how the report will appear in QuickBooks go to www.fasteasyaccounting.com/ela Whenever you issue a loan record it in QuickBooks and the report will show an increase in that persons loan account. Whenever a payment is made through payroll or if they pay it back via cash or check make the appropriate QuickBooks entry and the report will show a decrease in that persons loan account. Whenever an employee loan account has a zero balance their name does not appear. I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast This is one more example of how Fast Easy Accounting is helping construction company owners 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast.   Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This podcast is episode number 00066 and it will be about Outsourcing Contractor Bookkeeping Services Vs. Jobs Anything Not Related To Your Core Construction Business Is An Outsourcing Candidate These days, contractors are under increased pressure to cut their prices to get enough work. And that means they need to reduce costs. New technologies and new approaches in cloud computing for construction accounting gives forward thinking contractors an amazing ability to get more for less - but in most cases, contractor's heads are still stuck in 1990, thinking they have to do everything themselves. In addition, a lot of in-house bookkeepers are a part of the problem, fighting back hard at the thought of letting any jobs or control goes to someone else. Let’s Review This First, separate in your mind the concept of outsourcing contractor bookkeeping services and jobs because they are not the same thing. For example, suppose you decide to upgrade your contractor bookkeeping software from shoeboxes full of receipts or spreadsheets to a computer based construction accounting software like QuickBooks. You can pay your bookkeeper to spend days or weeks trying to figure out how to setup QuickBooks for your construction company and in the end wonder why you don't have the Financial and Job Costing Reports you need to operate and grow your company, or you can outsource that task to someone who does it hundreds of times a year and add a few hours of tutoring for your in-house bookkeeper. The result will be a QuickBooks file for construction that is designed to work the way you do and has a lot of memorized transactions, customized reports and accounts preset to handle things like: · QuickBooks Setup For Construction Company· Sales Tax Returns· Payroll Processing· Payroll Tax Returns, 941 and 940· Free Stand Alone Invoice For Contractors · Standard Invoicing Service· Work In Progress (WIP) Reporting· Retention Tracking System· Insurance Audit Reports· QuickBooks Reports· Job Cost Reports· Five Key Performance Indicator Reports for monitoring your business There Is A Huge Difference Between Construction Accounting And Regular Accounting Construction Accounting is built on a foundation of regular accounting and shares the same basic financial reports for operating and growing a business and preparing annual tax returns and some very rudimentary management decisions. Construction accounting adds many complex layers of reporting mechanisms to show you, the contractor, where your best customers are within psychographic and geographic market segmentation boundaries using the 80/20 rule. The 80/20 Rule Can Make You A Lot Of Money! For example:·    20% of your customers normally generate 80% of your net profit. ·    20% of the goods or services you sell contribute 80% of your revenue·    20% or 2 out of 10 of your staff create 80% of the value for your customers. The frightening consequence of the 80/20 rule is that 8 out of 10 hours we spend at work drive almost no value to the bottom line and the biggest drain is trying to save money doing our own contractor bookkeeping instead of reviewing the Key Performance Indicator (KPI) Reports. Through our contractors bookkeeping services system you can access them 24/7 without opening QuickBooks for Contractors.  The most important value good bookkeeping brings to a business is an understanding of where your 20% is hidden.   By generating daily reports that uncover the best customers, jobs, services, or products, you will soon see how you can refocus your internal efforts on doing more good work. This is the great contribution a company receives from good QuickBooks®  data and from using QuickBooks®  the ‘right-way’. This is a short list of the Chart of Accounts commonly used for construction accounting and regular accounting. The list is intentionally short in order to make the point without being completely overwhelming. Construction Account = 233 Vs. Regular Accounting Titles = 115 To see the complete list go to www.fasteasyaccounting.com/coa So we’re not talking about jobs. When I say, “outsource your contractors bookkeeping” I do not mean turn it all over to us or any other contractors bookkeeping service because this is a something that never seems to work out well. No, I’m talking about outsourcing specific bookkeeping services related to data entry, bills, payroll processing and preparing Quarterly Tax Returns. NEVER, EVER let an outsider pay the bills, print checks and authorize payment for payroll or any tax payments. It is crucial your keep control of your money. In fact outsourcing contractors bookkeeping is one of the ways to avoid bookkeeper embezzlement. My suggestion is to look at every part of your internal contractor bookkeeping service and ask yourself a simple question: is this a unique and critical part of our construction company and is it something that only we do? If so, it stays in-house, and needs the brightest minds you have working on it. If not, it is a candidate for outsourcing, and you need to look at it more closely. I’m not suggesting “automatically outsource it,” because the decision isn’t that simple. This first question is just the starting point. For example, bank and credit card account reconciliations in QuickBooks are what help maintain the accuracy and integrity of your Financial and Job Costing Reports. If you have two of each you are probably paying someone at least two hours a month to reconcile them. That person might make $15 dollars an hour and by the time you add overhead for labor burden they cost your construction company $25.29 an hour X 2 hours = $50.58 a month just to reconcile the bank and credit card statements. Unless they use Journal Entries to save time and destroy any hope of job costing reports. Fully Burdened Bookkeeper Cost Simply means what it will cost you to hire someone including the company portion of the payroll taxes and all those little costs that only an accountant like me would think about. The example below shows a part-time in-house bookkeeper at $15.00 an hour working 10 hours a week. Notice this poor soul does not have any benefits at all and they still cost the company $25.29 per hour! To see the calculations go to www.fasteasyaccounting.com/bookkeeperThese costs do not include heavy training for your bookkeeper; read The Nine Steps for more The two happiest days in a construction company owner's life is the day he hires a bookkeeper and the day he outsources his bookkeeping. Generally speaking we know from our research a typical contractor with 2-4 employees and annual sales of $500,000 will need at least a part-time bookkeeper for 10 hours a week and they will try to get away with only paying them $15.00 an hour plus overhead and it will cost their construction company approximately $13,000 - $15,000 a year and most of the time they will still overpay their taxes, have bad or non-existent financial and Job Costing Reports. But you’d still need an in-house bookkeeper, right? Well… perhaps not. See, outsourcing is often interesting in that, while you still need administrative resources, they can be less skilled. They don’t need to have any contractors bookkeeping service skills to pick up the mail, make bank deposits, print checks, which can be done on your local computer even with QuickBooks Desktop version in the cloud. It’s likely a part-time office assistant could do that in addition to other duties and errands. Point is, it is worth asking the question what are the things you and your employees should be dealing with that nobody else can do for you. Everything else - contractors bookkeeping services, cell phones, power, land lines for office phones, coffee service, janitorial services should be outsourced if possible, and if it makes sense. Not because it’s cheaper, although outsourcing often works out that way in a careful comparison. No, you do it because it removes distractions, so that everyone in your construction company can focus on what’s important to acquiring customers and satisfying their needs which puts money in your pocket. It’s an interesting approach. The only reason more contractors haven’t started down this road is because most construction companies are poorly managed, which means they all kind of level out against each other. But, many contractors are figuring it out and wishing they had started years ago. ------------------------------------------ General Contractor, Lynnwood Washington Review: "The beginning of 2008 my company attempted to save money by doing our own accounting, but instead paperwork started piling up, wasn't organized and wasn't getting done. I failed to realize the amount of time and effort that went into accounting, especially not being an accountant by trade. I didn't want to have my wife take on the burden being a stay-at-home home and already having her hands full with 2 kids so I made the decision to go back with Randal and Sharie. I am a new, young business owner and have sought much help from them and have always gotten great advice and great help.They know the trade, and they know what I'm going through on a daily basis. I have not regretted my decision one bit. They have helped me to get back on track and get my business running smooth again. I am grateful for the services they offer. I would recommend their services to any General Contractor." ------------------------------------------ Goto http://www.fasteasyaccounting.com/reviews to read more of these 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 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This podcast is episode number 00065 and it will be about Why Your Construction Company Needs Bookkeeping When you own a small contracting company, like a residential remodeler, plumber, electrician, concrete contractor, flooring contractor or any other construction related company it is imperative that you have a good clean set of books that are consistent and updated regularly. The Tax Collector Will Not Be Happy With Financial Reports Generated From A Whole Bunch Of Random Transactions Put Into QuickBooks At The End Of The Year Tax preparation, Quarterly Tax Returns, Payroll Tax Returns, Sales Tax Returns are the primary reason contractors need to maintain a detailed set of books, but there are other factors at play. It’s important to know how much money your contracting company is bringing in and how and where the money is going. It is important to compare your results to industry standards to determine where you need to improve your contracting company business model. There is a lot of information to be gained when you compare this year’s Profit & Loss to the prior year because it will alert you to trends early enough to respond rather than reacting after it is too late and help establish profit and sales goals. In the late 1800's bankers, lenders and credit agencies began working toward a common language to develop a set of standards for financial statements formatting that would allow everyone in the world of finance to compare apples to apples. In 1914 RMA was founded to facilitate the exchange of credit information, it was named the Robert Morris Club, after Philadelphian Robert Morris, who signed the Declaration of Independence and was the primary financier of the Revolutionary War. - See more at: http://www.rmahq.org/about-rma/a-brief-history-of-rma#sthash.kVUlI1BP.dpuf Since 1973, the Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting that govern the preparation of financial reports by nongovernmental entities. This means all legitimate banks; lenders and bonding companies have access to massive data bases which can make judgments about your Construction Company but only if you present the Profit & Loss Reports and Balance Sheet Reports in a format they can use. If you provide financial statements in any other format they are likely to smile, nod approvingly, shake your hand and politely send you out the door with a balloon of hope. Current and accurate financial statements presented in the formats bankers, lenders and bonding companies want can save you a lot of money on loans and lines of credit when you need to borrow money. Lenders want to loan money to contractors who they believe can and will pay the loan back. There is a direct relationship between how much interest you will be charged for loans and lines of credit and how well your financial statements match the format they want to see. Contractors who try to save money with simple spreadsheets are only fooling themselves and telegraphing to their bankers and lenders they are non-conformists "Mavericks", "Cowboys", "Renegades", "Rebels" and that is one of the main reasons they never get loans and lines of credit. Bankers and lenders are the exact opposite and they don't take chances. Bankers and lenders want to see consistency, so use a construction accounting software like QuickBooks, Dexter+Chaney, Maxwell, ComputerEase or something similar. For small construction company owners doing less than $5,000,000 in sales every year QuickBooks is your best option. Make sure all of your financial reports conform to the standards your banker, lender and bonding agent expects and you will save yourself a lot of money and grief. For construction accountants like us it is a "no brainer" that every successful and highly profitable construction company owner follows these rules. Unfortunately, every struggling construction company has one thing in common, they truly believe bookkeeping is an overhead and therefore a cost to be reduced and if all possible eliminated. According to a June 2012 article published by AccountingToday.com there are more than 30 million small businesses in the US, 74 percent do NOT employ full-time or part-time accounting help. That includes many contractors who are attempting to figure out how to do the books or hand it off to their wives to do it without the necessary background, taking away valuable time from running their contracting company. When you started your contracting company going at it alone may have seemed the right way to go because you felt you were saving you money. But, if you aren’t skilled in Construction Accounting you could end up in a lot more trouble than it is worth. And then you could find yourself paying some construction accountant the same money to clean up QuickBooks as you would have spent to have them do it right the first time. In addition you would have enjoyed the support and mentoring of a construction accountant along the way which could have helped you save more money in taxes as well as guide you to which jobs are most profitable; the 80/20 rule for construction success. Bookkeeping tasks like posting payroll properly, tracking credit card usage and reconciling accounts can be tricky for any business using regular accounting. However, for contractors who need Job Costing that just doubles or triples the data entry and what is worse most bookkeepers non trained in Construction Accounting don't have a clue and just put transactions in wrong and nobody knows it until the contractors wants to know how much money they made on a particular job. I've seen thousands of messed up QuickBooks for Contractor files over the years where someone had tossed data into QuickBooks without knowing the key elements of the bookkeeping process and they created some disastrous results. In most cases, those results adversely affected the construction company's tax returns. Not only that, but a subsequent IRS audit may result in additional tax liabilities as well as open up other years for examination since the IRS now has the ability to request a copy of your QuickBooks file. Experts will tell you to seek out professional help in all areas of your business in which you are not competent Four Options For Your Contractor Bookkeeping Services 1. Do-It-Yourself2. Put your spouse to work for low or no pay and risk divorce3. Hire an in-house bookkeeper and hope you don't get a bad bookkeeper4. Outsource it to a bookkeeping service that understands construction It is understandable why contractors like option #1 and #2 because it appears to be cheaper and it is in the short-run, but without construction accounting expertise they spend valuable time trying to figure out tasks and end up in desperate need of a human being for guidance. After trying option #1, #2 and #3, please consider trying option #4. Many qualified bookkeeping services don’t charge as much as a CPA but can deliver exactly what you need. The trick is to be sure the person or agency you engage understands construction and construction accounting at a deep level. You may want to have your tax professional or a qualified CPA refer you to someone who can help you or review their preliminary work to determine if they are handling your books accurately and completely. Our Contractor Bookkeeping Services System Is A System 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

This podcast is episode number 00064 and it will be about QuickBooks Support Hold Time I love QuickBooks Because It Does So Much For Contractors! When QuickBooks was first released as a DOS version in 1992 we purchased a copy and tried it and within three months we switched our entire construction division and our bookkeeping service division that served a few small contractor clients from another well-known construction accounting software to QuickBooks and have been happy as clams at high-tide ever since. In the 1990's I found QuickBooks technical support to be absolutely awful and for all practical purposes non-existent. The problem was two-fold; early desktop computers were unreliable and would break-down, lock-up and stop for any number of reasons and QuickBooks was like a two year old child learning to walk which meant it would crash, fall-down, lock-up and stop regularly. Most QuickBooks users who had contacted QuickBooks technical support in the early days would be on the verge of a nervous breakdown or inclined to say their Sunday School Lesson backwards if you know what I mean. In time, QuickBooks and the parent company Intuit made massive improvements both in the software and the technical support and desktop computers got better and more reliable. In my opinion, it all peaked in early 2004. In early 2004, it seemed most if not all QuickBooks support was being sent to overseas call centers and staffed by good people with the best intentions and big hearts that really wanted to help but could not speak English. It appeared the only way to get useful QuickBooks support meant users needed to pay for it so that is why we invested $599.00 a year to join the QuickBooks ProAdvisor Program and is one of the best investments we every made and that is why we continue investing $599.00 every year to remain a QuickBooks ProAdvisor.                   However, lately when we have needed to call QuickBooks support line for ProAdvisors the wait times are approximately one hour. The good news is when we do get through the QuickBooks technical support folks really know their stuff and the issue always gets handled. If you are a construction contractor using QuickBooks or you have someone in your office using QuickBooks perhaps you should consider investing $599.00 per year to join the ProAdvisor Program. Or perhaps if you want to have access to folks who specialize in QuickBooks For Contractors we could be of service. We offer specialized support for construction companies. The Fast Easy Outsourced Accounting Difference: All accounting is done in our office in Lynnwood Washington Nothing is sent oversees or to some Bad Bookkeepers house QuickBooks setup for contractors Bookkeeping QuickBooks cleanup for contractors bookkeeping No hassle contractors outsourced bookkeeping services Professional Construction Bookkeepers with minimum of 10,000 hours of practice Remote Access The Desktop Version of Your QuickBooks You don't have to buy QuickBooks, we can lease it for you Cloud based document storage Flat Rate Pricing For Outsourced Bookkeeping Flat Rate Pricing For Outsourced Accounting Business Coaching from people who understand construction No Bad Bookkeepers! Pick And Choose Your Contractors Bookkeeping Services: Emerging Contractors Programs Quarterly Tax Return Preparation Sales Tax Return Preparation Payroll Processing Payroll Quarterly Tax Return Preparation, 941 and 940 Labor And Industries Quarterly Tax Return Preparation Free Stand Alone Invoice For Contractors Invoicing And Statement Service Work In Progress (WIP) Reporting Pay Application Invoicing For Remodel Pay Applications For Tenant Improvement (TI) Job Deposit Tracking Retention Tracking System Contractors Liability Insurance Audit Support QuickBooks Financial Reports QuickBooks Job Cost Reports Optional scanner Send paperwork to with the push of a button Five Key Performance Indicators to monitor your business Business Processes Management Construction Marketing Resources QuickBooks Setup For Construction Company Access to Meeting Space 24/7/365 Our Contractors Outsourced Bookkeeping Services System Is An Assembly Line  Contractors bookkeeping services tasks are divided into groups and assigned by skill level and everything is reviewed by a QuickBooks expert in construction accounting and QuickBooks setup for construction. This process costs less and we pass the savings on to you! 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]  

This podcast is episode number 0062 and it will be about Virtual Bookkeepers Vs. Outsourced Bookkeeping At networking events, construction contractors have asked me if we are cheaper than a virtual bookkeeper is. I like to clarify the question by asking if they mean a virtual assistant or a virtual bookkeeper. There is a HUGE DIFFERENCE between a virtual assistant and a virtual bookkeeper. Virtual assistants can be a real asset to any contractor because they have all of the computer hardware, software and office space in their home, which means they can handle a variety of mundane tasks better and faster than most contractors, can and they can do it for a lot less money. Moreover, they do not need access to any of your sensitive financial data. The time contractors save can be used to do things only they can do like meeting with clients, scheduling jobs and riding herd over apprentices. In short, doing the $50 to $100 an hour work and outsourcing the $15 to $25 an hour work to a virtual assistant makes sense. In the end, everyone makes more money and gets more enjoyment because they are doing what they love to do! Virtual Bookkeeper Trap #1 They work from a rented home or apartment so they can disappear quickly when they need too. Professional bookkeeping services have a commercial office space with public access. The top-notch professional bookkeeping services own, not rent, the office building their practice is located in which means they are the most stable of all. It is similar to Ham & Eggs for breakfast. The hen is involved; but the pig is committed! Wise contractors know the value of having Contractor Bookkeeping Services providers that are committed to their satisfaction. Virtual Bookkeeper Trap #2 They ask for administrative access to your QuickBooks company file, sensitive documents, bank statements, financial records, credit and debit card information and PIN numbers used to pay your Quarterly Tax Returns. This is not much different than putting a sign on the main entrance to your company saying FREE MONEY! TAKE AS MUCH AS YOU LIKE! In most cases if you give a virtual bookkeeper your credit or debit card information including PIN number and they embezzle your money you will likely never recover any of it. See Why Bookkeepers Embezzle And Steal Virtual Bookkeeper Trap #3 They insist on being paid with credit or debit card and ask for the CCV number on the back. Again NEVER, EVER give them access to sensitive documents, financial records, credit or debit card information. Use common sense and always use PayPal or some similar method to pay for their services. Never, ever give them your credit card or debit card information to pay for services. Virtual Bookkeeper Trap #4 Contractors who outsource important construction accounting services to a "virtual bookkeeper" in an effort to save money are completely foolish because a virtual bookkeeper is usually a Bad Bookkeeper. They are more often than not someone with enough skill to bluff their way into a construction accounting job but without the skills to keep it. The standard path of destruction starts when the bad bookkeeper discovers that no legitimate construction company will hire them so they take a few online courses or attend a weekend seminar. Armed with a tiny amount of skill and no practical knowledge they setup a desk in their home and all of a sudden, they are a low overhead, low price, virtual bookkeeper wrecking ball looking for a contractor to pay them to test out their new bookkeeping services skills on. Hiring one of these jolly jokers is worse than turning an apprentice loose on a job site with a set of plans and some power tools! Virtual Bookkeeper Trap #5There is a phenomenon known in financial industry and the plumbing trades as circling the drain. It is a point of no return that begins when a contractor opens his company and QuickBooks setup wrong; not even close to what construction contractors need. Click here to learn what contractors need in QuickBooks setup. And it ends when they go out of business. Virtual Bookkeeper Trap #6 You have all your eggs in one basket and nobody to oversee that one lonely bookkeeper. The things most contractors never even think about is what happens when get sick, take a vacation, get distracted, get overloaded with clients or simply pass away. Because when, not if, those things occur your contractors bookkeeping services needs will be way down the list of what is important to them and their heirs. Most virtual bookkeepers operate in a vacuum because they don't have anybody to talk too, no support other than help screens and paid phone support, which they rarely spend money on, and no incentive for continuing education because that cost them money. Some of them will tell you they have ten years of bookkeeping experience, which really means is six months practice repeated twenty times over. How many times have you hired a construction worker with ten years experience and discovered they knew next to nothing? The harsh reality virtual bookkeeper traps I have shared with you come from reviewing hundreds of offers from virtual "Virtual Bookkeepers" to subcontract from us. In all the interviews we have conducted somewhere during the conversation we will ask about their experience working with construction company contractors and most of the "Virtual Bookkeepers" relate stories to demonstrate how the "stupid contractors" they worked for went "bankrupt". I suspect part of it was due to the actions to the virtual bookkeeper. Newbie virtual bookkeepers work from home and happily give out their home address until they get a few angry contractors stopping by to express dissatisfaction about the condition of their QuickBooks Contractors financial reports anytime of the day or night. After a while they get a P.O. Box or a "Virtual Office" or the economy picks up and they get hired by a desperate contractor. At the extreme end is the super-duper bargain basement, lower than low priced "virtual bookkeepers" working overseas in hot, steamy, loud and unfriendly environment with little or no skill in bookkeeping or accounting let alone construction accounting which is a whole different skill set. The worst thing a contractor can do is give a virtual bookkeeper remote access to their desktop computers, servers or other web enabled devices to have free unrestricted access to your company software and financial documents. See Bookkeeper Theft And Ways To Avoid It. The virtual bookkeeper can sign onto your company’s secure network from their home computer and accesses any documents just as they would if logged onto an on-site company computer and in many cases introduce viruses and wipe out many years' worth of work in QuickBooks and other sensitive data. Outsourced Contractor Bookkeeping Services On the other side are the Outsourced Contractor Bookkeeping Services Providers like us. We work in a real office building with public access and normal business hours. We hire professional construction accountants and bookkeepers and have a comprehensive Construction Accounting System. Outsourced Contractor Bookkeeping Services like ours do not rely on in-house servers; or your servers, instead we contract with an Intuit Approved Commercial Hosting company. What that means is Intuit the parent company of QuickBooks has set high standards and rigid requirements for any company wanting to host QuickBooks files. This gives contractors a layer of protection not available in privately held servers because everything is backed up and QuickBooks for Contractors software patches are installed automatically. Very early in our search for a place to host, store, backup and maintain our own QuickBooks client files we "test drove" a lot of QuickBooks hosting providers before Intuit put their commercial Hosting Program in place and found most of them were offended when we asked detailed questions regarding safety, security and QuickBooks for Contractor backup procedures. Many of them would get frustrated with our questions, hang up the phone, and remove our access. We have since found what we consider to be the best of the best Intuit Commercial Hosting Provider and we have our own private server. It is not cheap; however, quality is like oats...fresh clean oats cost more than oats that have been through the horse and we know What Ten Minutes Waste Costs Your Construction Company. Outsourced Contractor Bookkeeping Services have more than one person in the office so you do not have all your eggs in one basket. There are processes in place for checking and verifying the work. When a construction bookkeeper gets, take a vacation, get distracted, get overloaded with clients or simply passes away there is someone else to fill in because everyone is cross trained on everyone else's job wherever possible. Work flow processes and job descriptions are documented in operations manuals so that when a new hire joins the firm they learn from videos, manuals and audio recordings. Not the old worn out method of following someone around and learning by watching. This means you get what you expect and read about in our Welcome Manual, very predictable, no surprises. Qualified Outsourced Contractor Bookkeeping Services have specialists and for internal support for staff to talk with and get questions answered. We also provide continuing education. In most cases, our staff ten years of experience really is ten years' experience. Reduced Employee Costs Both the virtual bookkeeper and Outsourced Contractor Bookkeeping Services may be appealing to a contractor because of the cost savings and flexibility associated with this arrangement. Neither one require office space, supplies, insurance, benefits or employment taxes which is a huge savings for the contractor. See What It Really Costs To Have A Bookkeeper In Your Office. Both the virtual bookkeeper and Outsourced Contractor Bookkeeping Services offer flexible availability and can work as much or as little or the contractor needs; this can be especially beneficial for small contractors that do not need a full-time on-site bookkeeper or whose financial services needs fluctuate. Save Yourself Some Grief If you think, you cannot afford Outsourced Contractor Bookkeeping Services you may be right. The question is can you afford not too? Many contractors have talked to us and felt that hiring a virtual bookkeeper would save money. In the end, they found that between having to explain how construction works, overpaying taxes, fines and penalties and having to pay extremely high interest on loans they contacted us and we welcomed them with open arms and got their situation back on track. Click on www.fasteasyaccounting.com/reviews 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

This podcast is episode number 00061 and it will be about Sean Kavanaugh's Unique Plumbing and Mechanical Contractor Insights The Following Is An Outline From Sean Kavanaugh's Guest Appearance On The Contractors Success M.A.P. Podcast which you can listen to below. It is on iTunes, Stitcher Radio and all popular podcast directories. ----------------------------------------------------------------- Hey Randal thanks so much for having me on the show. I really appreciate it. I guess before we dig in I should probably give a bit of background on myself. My name is Sean Kavanaugh and I've been in the plumbing business in the Chicagoland area in some capacity for 22 years. Right out of college I began working for my father at Litvin Plumbing where he was the president. Litvin was a fairly famous hi-rise contractor and one of the first high rise contractors in Chicago doing the plumbing work for the John Hancock Building, Water Tower Place, Marina Towers (Think Bullet with Steve McQueen) and many others. I was hired to help out in accounting but ended up being the purchasing agent at 22 years old for a company with 75 employees doing about 18 to 25 million in annual revenue. It was sink or swim because I knew very little about actual plumbing even though my dad had been in it for my whole life. It was there that I learned a ton about buying commodities like copper, cast iron and steel, job staging, scheduling truck loads of cast iron, copper, steel and plumbing fixtures not only for the job but to prefab what we could in our shop. (I learned how frustrating and expensive it could be when a scheduled delivery never showed up to a job. 1 foreman, 1 journeyman and 5 apprentices standing around waiting for a truckload of bathtubs that never shows up?) Believe me a couple major fixture manufacturers hated me for the butt chewing and back-charges I gave them for not showing up with 1100 tubs.) In 1998 my father and I founded Kavanaugh Plumbing. We did tenant improvements, commercial, industrial and multiunit residential rehab and commercial and industrial service work. My goal was to be the biggest plumbing contractor in Chicago. Not because I had a plan but because I thought we were really good at putting in plumbing and people liked us. Three Quarters of a Business Life For the first five years it work real well we made a lot of money, then we grew. Then I had to take out a line of credit because we were doing bigger work and we weren't being paid in a timely manner. The next five years were stressful but OK. Money became our master, we did some big work with a ton of change orders and were paid barely 50% of them so winners became losers The next five years were a complete mess. I told my wife I put boxing gloves on every Monday to start pounding customers for cash to do payroll on Wednesday. We had no one to tell us to stop. No one to tell us how to get out of the madness so we worked harder and longer for shear pride. A very big job for us didn't pay us for 7 months and we called it quits. Words of Wisdom Don't ever do a job you can't pay for yourself. I know there is a need for banks and business loans but you need a really good accounting partner to let you know if its right. I never had that innate feeling of when that should be. I just did it because it's what plumbing contractors did at least the ones that I knew If you can't pay the Employment taxes it's probably a real good time to think about shutting it down before it gets out of hand. Don't be afraid to ask for your money. You provided a service you deserve to get paid on time within terms. Never and I mean never run your business to run your home. I see so many "contractors" price their work so they can make their car payment or their mortgage and insurance. Price your work so the business works. Your house will run like clockwork if the business is running well. Never let an employee be disruptive to your firm just because they are good at a certain task. If you aren't all moving in the right direction it will hold you back eventually. Four years ago I developed a website called ThePlumbingInfo.com with a web developer. I was an English major in college so I thought I could write. So I set out to build an authority website on plumbing for the consumer and professional. At first it was a great distraction from the actual plumbing business. Cathartic as it grew it became a source of income and the company that developed the site Todays Growth Consultant hired me full time to manage content on 235 authority websites. We are kind of hybrid web development, marketing company and our other company Income Store buys income generating websites for individuals, companies or private equity firms and by the way that’s a heck of a product. I guess you can say I'm an SEO guy but I hate the term. I really love to build relationships with people who want to grow their base site traffic and reputation using content as the bridge. For instance if a plumbing contractor wanted to grow their site organically we would give them a keyword silo and guide them in how to write for those keywords. Eventually I would use theplumbinginfo.com as a springboard for their content. They gain authorship credit by writing for an already established site and it expands their online footprint. ----------------------------------------------------------------- Editor’s Note: I have known Sean Kavanaugh since late 2013 and I trust him and find him to be very knowledgeable and capable on the subject owning, operating and growing Plumbing and Mechanical Companies as well as a skilled marketing expert for all Contractors. I Highly Recommend all contractors spend some time on his website ThePlumbingInfo.com and get to know him. He is a valuable resource to all contractors, not just Plumbing and Mechanical Contractors. Please be sure to let him know Randal DeHart, The Contractors Accountant, recommended you. Sean Kavanaugh and I met on Google+ in late 2013 and found we had a lot in common. We were both licensed journeyman plumbers earlier in our career paths and had the pain and pleasure of owning and operating plumbing companies. We have both moved on to other careers that involve construction. Sean manages 235 authority websites and one in particular near and dear to his heart is ThePlumbingInfo.com. Sean invited me to contribute articles to ThePlumbingInfo.com that are directed specifically to the wants, wishes, hopes, dreams and challenges of Plumbing and Mechanical Contractors. Frankly, I was very appreciative of the opportunity to serve Plumbing and Mechanical Contractors; however, my time is limited, having a 60+ hour workweek (it is because I want too, not that I have too). The thought of adding another 1-2 hours a week to construct a decent article and post it did not seem to be a good use of my time. After giving it, some thought I remembered one of the Journeyman Plumbers who mentored me in the Plumbing Trade and what he said "It is the responsibility of all Journeymen, in all trades to give back by mentoring" and the decision was made. I submit new articles every week to Sean Kavanaugh's website at www.ThePlumbingInfo.com with the understanding that he, as the editor, can add images and other graphics as he sees fit and that he decides when and if an article is published. It has been an absolute blessing to my Soul to have met Sean Kavanaugh and I am so very grateful to Sean Kavanaugh for the opportunity to contribute and will continue doing so until it is time to stop Many Thanks To You Sean Kavanaugh For All you Do For Contractors Everywhere! ----------------------------------------------------------------- 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected] In closing I want to caution you that we may or may not be a good fit for your contracting company. This guide will help you learn what to look for in outsourced construction accounting. Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.Bye for now until our next episode here on the Contractors Success MAP Podcast Warm Regards, Randal DeHart | Contractors Accountant We Remove Contractor's Unique Paperwork Frustrations

This podcast is episode number 0060 and it will be about Which QuickBooks Cloud Option Is Best For Contractors? We Recommend QuickBooks Online When The Business: · Is run like a hobby· Not a construction company· Does not need full QuickBooks· Owner sole focus is saving money· Basic simple reports are all you need· Businesses with less than three employees· The owners enjoy doing everything themselves· The owners have lots of free time to learn software· They do not fit our client profile of contracting for profit We Recommend QuickBooks Desktop Version Cloud Computing When The Business: · Is a construction company contracting for profit· Needs Job Costing reports and solid Financial Reports· Needs the power of the full QuickBooks Desktop Version· Is focused on saving money with innovations and cost control· Is open to implementing a Business Plan designed to increase sales QuickBooks Cloud Computing Has The  Same QuickBooks Desktop Features Because It's QuickBooks Desktop Running On A High-Speed Secure Cloud Server QuickBooks desktop in the cloud - Is one area where you can reduce your overhead and increase your productivity fast and easy. You can work from anywhere, anytime, with a single source for all of your data which means you can: · Use a PC or Mac to access QuickBooks desktop version· Reduce your travel time and expenses· Create, print and/or email invoices at the jobsite and get paid immediately· Simplify PC maintenance by not dealing with network issues in your office· Access to remote support so you are never alone· You are in business for yourself but not by yourself· Increased efficiency because you can access to your live company files Advantages Of QuickBooks Hosting (Cloud Computing) vs. QuickBooks Online · QuickBooks Online is a totally different version of QuickBooks · It is different than QuickBooks Pro, Premier, or Enterprise.· We have contracted with an enterprise level QuickBooks hosting service to provide you with English speaking well trained network technicians to support you and your staff.· You Can Use The QuickBooks Desktop Version you purchased or we can arrange to lease QuickBooks on a month-to-month basis and you will be upgraded to the latest versions every year at no additional cost. · QuickBooks Desktop in the cloud allows access to multiple licensed users at the same time and they do not have to be in the same location, city, state or country for that matter.· QuickBooks Online does not offer the full features of QuickBooks desktop version. QuickBooks desktop version cloud computing offers every feature available with QuickBooks desktop because it is the same software. QuickBooks Online Does not have: o Purchase orderso Inventory trackingo Sales order trackingo Job costing or estimatingo Customized price levelso Integration with Excel, Word, or Outlooko Online bill paymento Payroll inputo Forecastso Business plans QuickBooks Online Does not allow user add-ons programs like: o UDA Construction Suiteo Business Plan Softwareo Marketing Plan Softwareo Paperless Document Managemento Scheduling Softwareo Job Costing Softwareo Project Management Softwareo Time Tracking Software QuickBooks Hosting - Can save you and your staff time, energy and money by using exactly the same QuickBooks interface you use on your local PC. 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]  

This podcast is episode number 0059 and it will be about Emergency Contractor Accounting Services Do You Have A QuickBooks Emergency? Did QuickBooks Gets Messed Up And You Need It Fixed Now! Call Sharie 206-361-3950 or [email protected] and explain your situation! We have a system for cleaning up QuickBooks that is Fast And Easy! 1. Nobody here will lecture on what went wrong or ask silly questions! 2.Your tax preparer refuses to prepare your tax return because your QuickBooks is a mess! 3. Your customers refuse to pay until you provide an Invoice that makes sense! 4. You need an Invoicing Service to prepare and mail or email your invoices for you! 5. You don't know for sure who owes you money because they are waiting for your Invoice! 6. You don't know for sure who you owe money too and if they are double billing you! 7. You need to get a bank loan and they are asking for Financial Statements! 8. You need a performance bond and the underwriter needs Financial Statements! 9. QuickBooks is a jumbled, mixed up, fouled up, knotted up mess and appears hopeless! 10. Your are bouncing checks because QuickBooks and the bank statements don't match! 11. Your bank accounts and the credit cards accounts have not be reconciled in a very long time! 12. Your supplier and vendor statements don't match what QuickBooks says you owe! 13. Your receipts, check registers, bank, credit card, vendor and supplier statements are in boxes, bags, wheelbarrows or ox carts! 14. You want to continue bookkeeping and you need a mentor 15. Your Bad Bookkeeper quit or got fired and you need Professional Bookkeeping now 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

This podcast is episode number B001 which means it is a bonus episode and not in our regular Friday rotation. It is about The Hard Truth Of Owning A Construction Company Contractors Are Our Heroes! The rough and tumble world of construction company ownership is not for the weak or the timid. It is an arena where the price of admission is a lot of blood, sweat, tears, and long nights and lost sleep, with peaks of enthusiasm and depths of despair. It can feel like riding a roller coaster operated by a mad man trying to convince you to get off, get out and go do something more relaxing like teaching a pig to sing! If you work it right you can end up with a construction company that is like a money tree that can take care of you and your family for a lifetime and leave a legacy for your heirs. To get to the truth about your construction company you must go on a journey. It is four levels deep and like most successes in life it is simple but not easy. The Four Levels Number One - What contractors want to hearNumber Two - What contractors want to believeNumber Three - Everything elseNumber Four - Truth A Story To Illustrate The Four Levels What Contractors Want To Hear - One evening after work a group of contractors met at the Contractor Business Round Table which is the neighborhood tavern with a round table, pitcher of beer and four contractors. They talked about how tough it is to get profitable jobs no matter what the economy is like. When times are good it is hard to find employees, when times are tough the phone doesn't ring. Everyone agreed there was nothing anyone could do about it. What Contractors Want To Believe - A short while later they talked about making money and agreed that really big contractors make most of the money and little contractors were doomed to struggle. Everything Else - One of the contractors suggested maybe they could ask one of the larger more profitable contractors and find out what they did that made the difference. This of course made the other contractors a bit uncomfortable. Then it happened and they all heard and felt the dreaded Snap-Crackle-Pop! The contractor who suggested asking for help experienced a paradigm shift and broke through to the other side. This contractor began leveling up! Suddenly they all remembered what that The Contractors Accountant, Randal DeHart, had said about leveling up. "As you develop your Business Strategy your income is likely to increase. The impact on your friends will not be pleasant as you will be proving that good people can win in the construction game by playing it with high moral and ethical standards and the willingness to try something different." Truth - Is whatever you believe and you will look for evidence to support your truth. Part of my truth comes from some of the writings found in the book “The Greatest Salesman in the World" by Og Mandino. The Salesman’s Prayer Oh creator of all things help me for this day I go into the world naked and alone, and without your hand to guide me I will wander far from the path which leads to success and happiness. I ask not for garments or gold or even opportunities equal to my ability; instead guide me that I may acquire ability equal to my opportunities. You have taught the lion and eagle to hunt and prosper with teeth and claw. Teach me how to hunt with words and prosper with love so that I may be a lion among men and an eagle in the marketplace. Help me to remain humble through obstacles and failures yet hide not from mine eyes the prize that will come with victory. Assign me tasks to which other have failed, yet guide me to pluck the seeds of success from their failures. Confront me with fears that will temper my Spirit yet endow me with courage to laugh at my misgivings. Spare me sufficient days to reach my goals; yet help me to live this day as though it be my last. Guide me in my words that they may bear fruit; yet silence me from gossip that none be maligned. Discipline me in the habit of trying and trying again yet show me the way to make use of the Law of Averages. Favor me with alertness to recognize opportunity, yet endow me with patience which will concentrate my strength. Bathe me in good habits that the bad ones may drown; yet grant me compassion for weakness in others. Suffer me to know that all things shall pass; yet help me to count my blessings of today. Expose me to hate so it not be a stranger; yet fill my cup with love to turn strangers into friends. But all these things be only if thy will; I am a small and lonely grape clutching the vine, yet thou hast made me different from all others. Verily there must be a special place for me. Guide me, help me, show me the way to become all you planned for me when my seed was planted and selected by you to sprout in the vineyard of the world. Help this humble salesman, guide me God. If you suspect that I care deeply about all Four Types of Contractors and their families you are right! Another one of my truths is contractors deserve to be wealthy because they bring value to other people's lives! 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]  

You Started Contracting To Have Fun Be Your Own Boss And Do The Work You Love Now you are overwhelmed with paperwork and the fun is gone! Just because you don't fully understand everything, you need to know about running a construction company doesn't mean you shouldn't be paid a fair price for your work! Do You Feel Like These People Are Trying To Take Advantage Of You?·    Customers·    Employees·    Suppliers·    Taxes·    Banks·    Credit Card Companies·    Incompetent Bookkeepers·    Embezzlers·    Scam Artists·    Lead Generators If you do you are not alone, many contractors feel that 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 was involved in the business end of the operation before they started. Did You Make The Following Mistake? You trust your wife so your stuck her with all the back office work and administrative tasks and paperwork because how hard could it be for her to: · Answer The Phones· Run Errands· Manage The Money· Reconcile The Bank Accounts· Reconcile The Credit Card Accounts· Apply For Loans And Lines Of Credit· Arrange Financing For Trucks And Equipment· Input Time Cards· Process Payroll· Prepare Quarterly Payroll Tax Returns· Prepare Sales Tax Returns· Do The Invoicing· Manage Change Orders· Be The Collection Agent· Schedule Jobs· Dispatch Construction Workers· Handle The Administrative Work· Make Bank Deposits· Generate Useful Profit & Loss Reports· Show You Where You Are Making And Losing Money· And Manage A Few Hundred More Paperwork Nightmares If you are sick and tired of the nonsense and want your contractor paperwork frustrations removed forever go to www.fasteasyaccounting.com/pw In order to get what you really want you must be honest and don't hold anything back. We have been where you are now and have helped hundreds of contractors just like you streamline their contracting companies so they could get back to doing the things they dreamed of when they opened their contracting company. To Make A Lot Of Money In Contracting You Need These Three ThingsAnd That Means Paperwork!  Marketing Is Easy If you know what to do. For a select few contractors who meet the following criteria we may be able to provide you with a $5,000 Grant in order for you to access a self-guided multi-million dollar marketing program that includes weekly group coaching that can do more for your construction company than most expensive overpaid marketing consultants who know little or nothing about construction. To Be Considered For This Special Program You Must:·    Have between 1-5 Employees (Including You)·    Headquartered Somewhere in the U.S.A (Including Alaska & Hawaii)·    Own a trade or specialty Contractor Company (No Remodelers, Builders, Developers)·    Have annual sales from startup to $500,000·    Be in business less than 5 years·    Be an owner / operator not just an investor or advisor·    Go to www.fasteasyaccounting.com/grant to apply now Accounting Is Not EasyFor a select few contractors who meet the criteria outlined above we may be able to provide a $100 grant to help offset the cost of getting your QuickBooks setup, cleaned up and outsourced to us so we can remove your contractor paperwork frustrations so you can spend your time and energy on production. Production Is EasyThis is what you got into business to do and if you do it just slightly better than your competition with proper marketing and accounting you can make a lot of money. 100% Paperless Office Is Not The Entire AnswerThere is a lot of talk and misinformation about how going paperless will solve all your problems. For every complex problem, there is a simple answer and it is usually wrong. We are a long way in the future before owners of small contracting companies can be 100% paperless.We can help you reduce most of it but not all of it. In most cases, we can help contractors eliminate over 50% of their paperwork and the related savings and increased production more than pays for our services. Meet Your New 24 Hour Paper Handler - ScanSnap Scanner This paper handler does not talk back, argue, arrive late, leave early, take long lunch and coffee breaks, demand overtime, fringe benefits, try to train you, or have any of the bad bookkeeper habits that drive construction company owners crazy! It Is Ready To Work - When you are; twenty four hours a day every day including weekends and holidays at no additional chargeIt Comes In PC and Mac Versions - So no matter what computer system you have it will work! When You Are Ready - To send us your paperwork, receipts, documents simply open it up Load It Up - With multiple sizes of paper and hit the button and watch that is all there is too it! The paper will automatically feed through the scanner and send the files electronically to our Paperless Server. File Your Documents - In a box and when it gets full label it with the date and put it away. Your Documents - Will arrive in our paperless server where our professional bookkeepers will bring them up on one of their multiple widescreen high resolution computer monitors and input the transactions into your QuickBooks which is stored on our remote secured server. You Can See - Your QuickBooks file anytime you want day or night, evenings, weekends and holidays anywhere you have an internet connection. You Can Generate Reports - See the status of your projects, download, print reports and checks to your printer just like you would normally do if QuickBooks were on your desktop computer or notebook computer. In Most Cases - We save companies just like yours $100's or even $1,000's dollar a year over having to do the bookkeeping themselves or hire a Cheap Bookkeeper to come to your office. Our System Is Your Solution - In 1991 we developed a Comprehensive Construction Bookkeeping System to add useful content to QuickBooks in order to make it work for construction companies. Having Worked With Contractors - And seen 100's of QuickBooks files, met with bankers, bonding companies, commercial insurance brokers in addition to our own experiences owning and operating construction businesses we understand what is needed. Having owned and operated - Several construction businesses over the past 30+ years we understand a thing or two about best practices when it comes to Construction Bookkeeping And Accounting and operating a profitable construction business. One Key To Success - Is delegating stuff you don't like doing because you aren't doing it right anyway. Our Contractors Bookkeeping System Delivers - Bookkeeping right and on time because we are not at the mercy of our bookkeeping staff. It's An Assembly Line - Where bookkeeping tasks are divided into groups and assigned by skill level. And everything is reviewed by competent accountants who cost us less and we pass the savings on to you! Skill Level           Job Title                     Payroll Cost       Level - 7        Business Planning      Extremely High       Level - 6        Financial Analyst        Very High       Level - 5        Systems Engineer       Higher       Level - 4        Accounting                  High       Level - 3        Bookkeeping                Medium       Level - 2        Data Entry                   Low       Level - 1        Paper Handling            Lowest     I leave you with this heartfelt blessing - “You have what it takes to be successful in your construction company" 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

This podcast is episode number 0057 and it will be about Construction Apprentice Thinking Patterns This podcast will focus On Construction Apprentices and how they think. It is my intention to offer some useful insights to all Journeymen in all of the construction trades and all owners of small construction companies. “If you know the answers, the questions will not bother you” Randalism Construction Apprentices are one of my most favorite groups of construction workers because they provide a never-ending supply of good clean humor. For the record, I have a deep respect and sincerely appreciate all apprentices everywhere for they are the men and women who continually replenish the supply of skilled Journeymen and are vital members of The Greatest Industry On Earth. Having served an apprenticeship in plumbing and passed the Washington State Journeyman Plumber Exam PLO1 in 1981 this article comes from the heart of someone who understands the good times while serving an apprenticeship. After becoming a Journeyman Plumber, I spent several wonderful years in the trades as a construction worker and later as a contractor. Therefore, these observations are from first-hand experience. Overall, I have fond memories of the good times spent on a variety of residential and commercial jobsites. Over the next ten years, I paid my dues to the trade by mentoring several apprentices and most of them went on to become phenomenal Journeymen and enjoyed long and profitable careers. The information presented here are from journals and notebooks of my own experiences as an apprentice and my observations of the behavioral traits of construction workers, contractors, engineers, architects and other people who are involved in construction. All apprenticeship programs regardless of the industry have one thing in common the Four Levels Of Learning. #1 Freshman Construction ApprenticeI don’t know that I don’t know anything about construction so I will listen and learn for a little while until I decide the Journeyman teaching me is stupid. #2 Sophomore Construction ApprenticeNow I know that I don’t know anything about construction, but I know a lot more than the dumb Journeyman who is supposed to be training me. He is obviously slow and stupid because he will stare at the plans for a very long time before making a decision. Why can’t he get it together so we can get to work and get the job done? #3 Junior Construction ApprenticeWell, now I know construction well enough now that I can do it if I concentrate and stare at the plans long enough to see the entire layout in my mind. I was wrong to think the Journeyman teaching me is an idiot. I am the idiot. #4 Senior Construction ApprenticeI know construction well enough to do it in my sleep and I really wish I had not been so impatient with the Journeyman who cared enough about the trade and me to take me on as his apprentice. Being a Construction Apprentice is an interesting journey. I refer to it as a phenomenon where otherwise intelligent men and women regress into a mental state just above plant life because they are attempting to shove massive amounts of mental information by their amygdala and allow it to go directly into their cerebral cortex where it is stored in long-term memory. While immersed in deep training mode the apprentice's muscle memory is being transformed at the cellular level to do things that do not make sense at the time. If they stick with the process, they will most likely come out the other side very intelligent and highly skilled Journeymen or they will quit and go into something less stressful like being a peace negotiator or rocket scientist. Every apprentice, me included, has experienced every symptom listed below. This is a sample taken from several hundred observations and personal experiences. Twelve Signs You Might Be A Construction Apprentice: 1. You are very enthusiastic about learning a skilled trade2. You wander about aimlessly on jobsites in awe and wonder3. You dress in blue jeans, plaid shirt, work boots and baseball hat4. You are asked what color the sky is on your home planet in the summer5. You are told earth is full and you need to seriously consider returning home6. You have a dazed look on your face when the Journeyman explains something, twice7. You are told to wait in the truck while the Journeyman and the contractor talk and instead get out and start wandering around8. You are told not to do something and do it anyway just to see what will happen9. You have a listening problem so the Journeyman does not talk, he shouts at you10. You are asked if you are ambivalent and you reply without thinking "Well yes and no"11. You are like a cross-eyed discus thrower, never setting any new records but keeping everyone's attention12. You are told the lights are on in your head; however, nobody is home now Understanding breeds patience and leads to success. Just knowing the road your construction apprentices must travel and sharing this article with them can help make the transition smoother for everyone involved. Need A Mentor? - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation I leave you with this heartfelt blessing - “The four levels of learning apply to everyone, not just apprentices and since lifelong learning is a journey relax and enjoy the ride” 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that. But now that you are the boss you don't know where to start NOW THAT'S STRESS! Spending Time To Set Up - Your construction company properly will save you grief, time, money and pay you dividends in the future. In addition you will do a better job protecting your business and personal assets. Get Organized - Pick a company name that says something about what you are doing. We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation. Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague. Bookkeeping Service - That understands construction is best when you start because we can setup QuickBooks correctly in the beginning and take care of the accounting until you are ready to take over. Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. Never Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation. Put Money In And Take Money Out - Of your business is O.K. in done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Insurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs. Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email [email protected]. Performance Bonds - If you are doing public sector work you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds. Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank. Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your accounting. Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or you can use something like UDA. Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application. No Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. McDonald's restaurant model: #1 Customer places order #2 Customer pays #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money. Marketing Then Sales - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your strengths, weaknesses, opportunities and strengths? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. www.FastEasyAccounting.com/mba Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well. Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn The Easy Way Or The Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect it The Contract Abuse - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24% The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. Indemnity clauses could make you pay the customer's attorney fees and costs. Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits. Oftentimes the term and coverage of the warranty is beyond normal industry standards. Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes. The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project. Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand. Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor.  The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion. Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king! Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project.  Three types of indemnities: Broad Form:  A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence.  The 100% indemnity. Intermediate Form:  An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence.  The 99.9% indemnity. Limited Form:  A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE! Other Things To Be Aware Of: Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc.  Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful. Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that. But now that you are the boss you don't know where to start NOW THAT'S STRESS! Spending Time To Set Up - Your construction company properly will save you grief, time, money and pay you dividends in the future. In addition you will do a better job protecting your business and personal assets. Get Organized - Pick a company name that says something about what you are doing. We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation. Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague. Bookkeeping Service - That understands construction is best when you start because we can setup QuickBooks correctly in the beginning and take care of the accounting until you are ready to take over. Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. Never Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation. Put Money In And Take Money Out - Of your business is O.K. in done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Insurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs. Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email [email protected]. Performance Bonds - If you are doing public sector work you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds. Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank. Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your accounting. Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or you can use something like UDA. Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application. No Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. McDonald's restaurant model: #1 Customer places order #2 Customer pays #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money. Marketing Then Sales - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your strengths, weaknesses, opportunities and strengths? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. www.FastEasyAccounting.com/mba Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well. Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn The Easy Way Or The Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect it The Contract Abuse - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24% The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. Indemnity clauses could make you pay the customer's attorney fees and costs. Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits. Oftentimes the term and coverage of the warranty is beyond normal industry standards. Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes. The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project. Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand. Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor.  The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion. Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king! Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project.  Three types of indemnities: Broad Form:  A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence.  The 100% indemnity. Intermediate Form:  An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence.  The 99.9% indemnity. Limited Form:  A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE! Other Things To Be Aware Of: Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc.  Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful. Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is your old boss was a terrible business manager and anyone could do better than that. But now that you are the boss you don't know where to start NOW THAT'S STRESS! Spending Time To Set Up - Your construction company properly will save you grief, time, money and pay you dividends in the future. In addition you will do a better job protecting your business and personal assets. Get Organized - Pick a company name that says something about what you are doing. We strongly recommend a Subchapter S Corp (a Sub S) for tax advantages, protecting your personal assets in the event of a claim or lawsuit against your company and for future expansion. Consult with a construction attorney and follow their advice. Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation. Partnerships Are The Only Ships - Designed to sink. We recommend stay away from them like the plague. Bookkeeping Service - That understands construction is best when you start because we can setup QuickBooks correctly in the beginning and take care of the accounting until you are ready to take over. Bank Accounts - Set up two bank accounts in your company name. All large income and expenses go through one account and keep the debit card in your personal safe. The second bank account is for your debit card you keep in your wallet and has no more than $500 or whatever you need for small purchases during the week. Never Co-Mingle - Personal and business money or you could lose the tax benefits and personal protection of your corporation. Put Money In And Take Money Out - Of your business is O.K. in done correctly. Your bookkeeping service can advise you on how to do it so that it is recorded in QuickBooks properly. Insurance - Is critical to your construction company. General Liability and Auto/rental equipment insurance can help protect you and your company against claims for personal injury and property damage, and may provide you with legal defense of those claims. Talk to an insurance agent that understands construction about your insurance needs. Architectural or Engineering Designs - Similar services are good reason to get Professional Liability (Errors and Omissions) insurance to help protect you and your company from claims arising out of mistakes in designs and calculations. Contractor's Licenses - Information changes rapidly so check online for your local county or contact us and we can help 206-361-3950 or email [email protected]. Performance Bonds - If you are doing public sector work you will probably be required to provide a performance bond to ensure that you complete the work in accordance with terms of the contract. Bonds or guarantees are provided by surety companies. Getting your construction company qualified is a process because the surety company will go through a due diligence process on your company to determine how much money they will write or guarantee for your bonds. Business Planning And Strategy Development - Is the blueprint for your business to succeed. You get out of them what you put into them. Garbage In = Garbage Out! Your business plan is a living breathing document that you will change and update as needed. It provides the baseline and milestones for your business and lets you make decisions in advance in the calm environment of your office instead of "on the fly" while driving, talking on your cell, eating lunch, and putting together a bid. It is a must have to borrow money from a bank. Paperwork - Begin the habit of putting all paperwork into manila envelopes which you write the job name on both sides in big letter. If you are thinking of doing your own bookkeeping think again, your time is more valuable in managing your business, getting customers and keeping them happy. Let us take care of your accounting. Estimating Process - There is no one right answer. You can develop your own estimating and pricing process or you can use something like UDA. Contracts - We recommend seeking the advice of a qualified construction attorney to put together a contract that fits your specific needs. Your contracts need a well-defined scope of work, clear payment terms, a reasonable schedule and a good change order clause. No work should ever be performed based on verbal agreements. Get everything in writing, always, no exceptions! Invoicing - For small projects we have a Free Invoice Template you can download and for larger projects with multiple deposits, change orders, progress payments check out our Pay Application. No Financing - Your customer or client's project by providing a substantial amounts of labor, material, subcontractors and rental equipment hoping to get paid later on down the road. McDonald's restaurant model: #1 Customer places order #2 Customer pays #3 Customer gets food. I have owned and operated several construction businesses and have clients who do it now and always work on "Other People's Money (O.P.M.). Nothing will kill your business and your hopes and dreams faster than running out of money. Marketing Then Sales - Is a process that never stops. Selling convinces your customer or client to buy your construction services and it comes after the marketing step. Knowing how to write proposals for customers or respond to a request for proposal (RFQ). What makes your company different than the competition? What are your strengths, weaknesses, opportunities and strengths? Perform a SWOT Analysis. Never ever bad-mouth your competition; it's temping but unprofessional and they might actually do a better job than you do. Join Trade Organizations - This is a great place to meet new customers and get lots of referrals because construction is deep and wide and no company does it all. The best one we have found is The Master Builders Association. And spend time learning about Networking For Contractors. This organization is good for all construction and related industries. www.FastEasyAccounting.com/mba Labor - Can include yourself in the beginning, construction workers, subcontractors and labor pools like Madden Industrial Contractors. Subcontractors are specialty trade contractors that you can delegate certain portions of the work you intend to perform. Make sure they have appropriate experience, properly licensed, bonded and insured. It is important in order to maintain future long term relationships that pay dividend to pay your subcontractors on time and treat them well. Employees - Bring lots of flexibility and responsibility. Flexible because you can allocate resources as need and scheduling is in your direct control. Responsibility because someone has too process payroll and the payroll tax returns. You need to manage cash flow to have money for their wages, benefits you offer and any applicable state and federal withholding taxes related to their wages, such as Social Security, income tax withholding, workers Compensation and unemployment insurance. In addition you may be responsible for employee benefits such as vacation pay, health insurance, and contributions to a retirement program. With labor Pools they take care of all of that and you pay a fixed cost per hour or whatever you negotiate with the service. Check with your construction attorney and your liability insurance agent to make certain you are covered. Lessons You Will Learn The Easy Way Or The Hard Way Lesson #01 - A new contractor meets an experienced customer and money changes hands and not the way you expect it The Contract Abuse - This is typical of what happens when you first get started. You bid on a project and you are the low bidder. You are given the client's standard contract, which contains the client's favorite set of commercial terms and conditions, to sign as a condition of getting the project. You close your and sign the contract because you don't want to ask for changes in the terms or consult your construction attorney. You put the signed contract in your bottom desk drawer and pray hard nothing will happen during the course of the project that will cause you to ever have to read the contract again. That Is Not What Happens This Is What Usually Happens: Poorly defined scopes of work create claims and disputes. The completion schedule is too short and exposes you to monetary damages for failure to finish on time. Payment terms put you in never ending negative cash flow by loaning the customer money at 0% and borrowing on your credit cards at 24% The customer keeps 5% to 10% of the contract price as retention for up a year or more after the entire project is finished which could be all your profit in the project. Indemnity clauses could make you financially responsible for bodily injury and property damage claims caused by customer negligence. Indemnity clauses could make you pay the customer's attorney fees and costs. Your insurance company may be required to provide additional insured coverage for the project giving the customer free insurance and full access to the policy coverage and limits. Oftentimes the term and coverage of the warranty is beyond normal industry standards. Dispute resolution clauses that require arbitration first and then litigation, probably the two worst ways ever invented to resolve disputes. The client's pre-printed final waiver of lien document (necessary for contractor to receive final payment) waives all contractor's rights to recover unpaid extra work and to pursue any claims that arose during the course of the project. Your Construction Attorney - Is your friend and ally and can save you a lot of grief. Most contracts are easy to read and understand. Scope of Work - Description in the contract is of key importance and a well-defined scope of work with details that outlines specific work to be performed by you, the contractor.  The scope of work needs to also define work that is excluded and all work to be done by others, including the owner, which may interface with the contractor's scope of work. Never worry about too much detail; that detail will significantly help with the avoidance or resolution of claims and disputes that may arise out of the scope of work.Schedule And Gantt Chart - Make sure you have enough time in the schedule to perform the scope of work. This is where every minute spent developing your Work-Breakdown-Structure (WBS) is worth an hour or more in time needed to do the work. Add Contingency To Your Schedule - Minor delays, weather, equipment problems, etc. always happen and do not expect the customer to be sympathetic and allow more time for delays. This is extremely important if the contract has liquidated money penalty damages for late completion. Payment Terms - Should need to add positive cash flow. Get cash coming in early and often. Paid when paid and paid if paid terms are ridiculous and we recommend not signing them ever! Clients who want these types of payment terms all have access to plenty of money and can pay you. Remember cash is king! Retention - Instead of retention being withheld from your progress payment invoices consider providing a warranty guaranty instead but check with your construction attorney first! Indemnities - Can be an open door to your cash reserves and everything you own, be careful! Indemnities typically cover claims for bodily injury, death of persons and property damage. The broad and intermediate form indemnities may require you to pay for bodily injury, death and property damage claims caused by the client, and you could be liable for the customer's attorney's fees and costs. Indemnity in contracts can be a dangerous risk transfer if enforced in a court of law could possibly bankrupt your company for something you didn't do. Again your construction attorney is the person to ask and don't be afraid to walk away from a project.  Three types of indemnities: Broad Form:  A broad form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of any amount of the client's negligence, including his sole negligence.  The 100% indemnity. Intermediate Form:  An intermediate form indemnity contractually obligates you, the contractor, to be responsible for claims arising out of the client's negligence, excluding only those claims arising out of the client's sole negligence.  The 99.9% indemnity. Limited Form:  A limited form indemnity contractually obligates both the contractor and the client to be responsible only to the extent they are negligent for a claim.Additionally Insured - Is a typical requirement in a contract that means something like: "Contractor will name customer as an additional insured on his General Liability Insurance policy." Understand that when you name your customer as an additional insured to your general liability insurance policy (bodily injury and property damage coverage) he receives full access to the policy monetary limits and coverage provided by the policy at no cost, FREE, $0.00! The customer may also receive the legal defense of a claim because your general liability policy for FREE! Other Things To Be Aware Of: Warranty - Is a good thing because it shows your commitment to stand behind your work and fix or replace defective parts or workmanship. Standing behind your work with a good warranty will give you a very good reputation. However, warranties don't have to go on forever and you don't need to marry the project, one year is about right and perhaps you could offer extended warranties as well. Your warranty should exclude things like normal wear and tear, corrosion, improper usage, etc.  Make sure your warranty is specific as to what it includes and excludes, when it starts and when it ends.Dispute Resolution- Well defined and documented dispute resolution clause in all your contracts that outlines the process to try and resolve disputes with negotiation as the starting place and if negotiation fails, then mediation. If that will not work provide for a senior executive in each organization to try and resolve the dispute. If all else fails arbitration and/or litigation is the end and both parties will lose. Lien Waiver - Do not ever give a lien waiver in advance of the check clearing the bank. All 50 states have lien laws that provide contractors with some limited protection against customers that refuse to pay. Make sure your construction attorney reviews the original contract looking for the customer's final lien wavier that could be hidden deep in the contract documents. Some final lien waivers also waive your rights to collect outstanding change orders and/or bodily injury or property damage claims against your employees or property caused by the negligence of the customer so be careful. Board Of Advisors - Finally one of the best things you can do at very little cost is put together your own Board of Advisors to help guide you. Find A Mentor - Someone who has been were you want to go and can guide you. We would like to be that person for you. Call Sharie 206-361-3950 or email [email protected] and schedule your no charge one-hour consultation 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Twenty One Signs Of Bookkeeper Embezzlement And Steps You Can Take To Help Avoid It! Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:"Times New Roman"; mso-bidi-theme-font:minor-bidi;} A Google Search - Of Construction Bookkeeper Embezzlement will generate thousands of hits and most of it could have been avoided if the construction owner had known about and followed a few simple guidelines.#01 - Don't Hire A Bad Bookkeeper Click Here For More...#02 - Understand The Employee Theft 10-10-80 Rule - Discovered over many years of experience and first hand observation by auditors, accountants, fraud examiners, anyone involved in detecting employee theft.Ten Percent - Of all employees including bookkeepers will steal in a variety of ways from office supplies, petty cash, graft, kickbacks and payoffs from your suppliers, vendors and sub-contractors and even hundreds of thousands or even millions of dollars. They will do it regardless of how many security systems are in place because they lack integrity and have an "taker's" entitlement paradigm that states: "It Is Better To Take Than To Make". They cannot be stopped, only caught! And only then if you have systems in place and if you can convince the criminal justice system to take action, good luck with that!Ten Percent - Of all employees including bookkeepers will never steal because they have integrity and a "Producer's" paradigm that states: "It Is Better To Make Than To Take". In the end these are the people who will add so much value to your company you cannot help but reward them with more money, benefits and recognition. Because if you do not they will be recruited by your competitors. This is another example of Leveling, click here to learn more.Eighty Percent - Of all employees including bookkeepers will steal if they feel certain they can get away with it and if circumstances allow for it due to weak integrity and a sense of "Redistributing The Wealth, But Not The Work Or The Responsibility"#03 - Your Bookkeeper - Asks for signature authority on your checking / savings / payroll accounts#04 - Your Bookkeeper - Has a lifestyle that seems above what they are earning#05 - Your Bookkeeper - Takes Records Home to work on or they want to work in the office when no one is around (Fraudulent activities are easier when nobody is around).#06 - Your Bookkeeper - Refuses to take a vacation.#07 - Your Bookkeeper - Gets defensive when you or your CPA asks questions.#08 - Your Bookkeeper - Has access to your credit/debit cards.#09 - Your Bookkeeper - Receives mail-order packages at work.#10 - Your Bookkeeper - Has QuickBooks in a complete mess and you cannot understand any of it.#11 - You Bookkeeper - Tries to explain away delinquency tax notices.#12 - Your Bookkeeper - Insists on picking up the daily mail.#13 - Your Bookkeeper - Is the primary contact for your company's banks, auditors, creditors, etc.#14 - Your Bookkeeper - Misplaces payroll receipts, deposit records, supplier letters and estimates.#15 - Your Bookkeeper - Makes the bank deposits and they seem to be too small.#16 - Your Bookkeeper - Show signs of a drinking, drug, or gambling problem or family financial problems.#17 - Your Bookkeeper - Suggested they could save money by getting rid of the outside accounting firm.#18 - Your Bookkeeper - Gets angry when you ask for a QuickBooks report#19 - Your Bookkeeper - Tries to blame the previous Bookkeeper or outside accounting firm for messy QuickBooks#20 - Your Bookkeeper - Does not get along well with other employees and staff members.#21 - Paying bills with Cashiers Checks - When you look it up on the internet it will only show as a withdrawalThere Are More Warning Signs - To be aware of and action steps you can take. 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Back office support can make or break your construction company and that’s where we come in. We can do you the most good by bringing order to your chaotic contractors bookkeeping mess! Most of our clients come to us because they believed they needed someone to straighten up their contractors bookkeeping sevices system, help them get current or quarterly payroll tax filings, sales tax returns and a variety of other tax issues. That is only the tip of the iceberg!  The real value in working with us is not just getting you out of trouble now but keeping you out of trouble in the future so that you can focus your time and energy where it will do you the most good…acquiring profitable and pleasant customers and clients and satisfying their needs.  Warm Regards, Randal DeHart | Premier Contractors Accountant http://www.fasteasyaccounting.com/contractors-success-map/ 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Why Sell Service Agreements? It goes to the heart of the question of the difference between a customer and a client. Service agreement holders are more likely to be clients that add more value to your construction company because they represent the most loyal segment of your customer base. Every service agreement customer represents a future work. In the meantime, service agreement customers are a source of cash flow and are predetermined to call you instead of your competition when repairs are necessary. Non-service agreement customers are more likely to be customers and fickle. They may call your contracting company for future work or they may decide to shop the competition and use the information they find to negotiate for a lower price. In some cases they may not even remember you or your construction company name. In addition, your replacement sale close ratio is normally higher with service agreement clients and your overall pricing and related service care level can be much higher resulting in even more raving fans. Service agreement clients trust you, follow your recommendations, and do not normally shop around. When and if you ever decide to sell your company potential buyers understand the value of service agreements and your company will be more attractive if you have a strong base of service agreement clients and they are normally willing to pay even more for it than you expected. Service Agreements Place On The Financial Reports The Balance Sheet is the summary report which shows all of the assets minus the liabilities which equals the "Book Value" or owner's equity. Owner’s equity is in theory what would be left over if you liquidated the company, sold the assets and paid all of the debts or liabilities. The true value of your service agreement clients will not show on the Balance Sheet before the business is sold; however, it is used to calculate “goodwill” if buyer pays more than book value for the company.Construction Accounting As It Relates To Service Agreements The price of a service agreement must pay for the corresponding maintenance and whatever is left after the cost of material, labor and other costs is gross profit. This means every service agreement carries a hidden cost for future maintenance work, which equals the total cost of services yet to be performed. For example, a plumbing contractor might sell an annual service agreement which entitles a restaurant to four follow up drain cleaning package visits each calendar quarter for $600 and a 20% discount on all additional services. This means you will send a plumbing drain technician to clean the main drain of the restaurant four times a year at a cost to your company of $75 for labor and overhead each = $300. The income from the service agreement is $600 - your cost $300 = $300 additional income. Keep The Service Agreement Cash Separate One of the best parts is you have an immediate increase in cash flow. Successful contractors put the cash in another interest bearing bank account and do not transfer any of it until the work is performed. In fact, it is not even necessary to recognize it as income until the work is done. Maintenance That Is Never Performed Some clients will not return phone calls and never let you schedule their service. Here are two suggestions to consider: #1 Disconnect The Work From The Payment Think about a pre-paid annual gym membership. It gives you the right to use the gym for the next year, but if you fail to take advantage of this benefit of membership, you do not receive a refund after the fact. #2 Maintenance Is One "Free” Benefits of owning a service agreement. The obligation to schedule the maintenance should rest with the client. We recommend you customer service representative contact each service agreement client to schedule services; however, if the client refuses to set an appointment the contractors obligation is met. Five Benefits: #1 Your dispatcher can group service agreement calls together saving travel time #2 It can be used to fill in slack times when there is not enough work to go around #3 It is a great way to train new technicians by having them shadow experienced technicians #4 Add on sales while the technician is onsite they can ask if there is anything else that needs to be fixed or upgraded #5 Immediate increase in cash reserves Five Drawbacks #1 Your dispatcher may not be able to group calls together #2 You may not have any slack time to fill #3 It costs more in the short run to train technicians this way #4 It will require you to have a way to track the upcoming service agreement dispatches #5 It requires a bit more construction accounting than most bookkeepers know how to do Summary The final decision rests with you to decide if adding service agreements to your contracting company makes sense or not. If your contracting company uses QuickBooks and you need help adding the correct accounts in the Chart of Accounts and the correct set of Items and Groups in your Item list Call Sharie 206-361-3950 or email [email protected] 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

 QuickBooks For Contractors Cloud Computing Vs QuickBooks Online QuickBooks Online Is OK For Contractor Companies: · Run like a real fun hobby · Not serious contracting firm · Doesn't need full QuickBooks · Owner sole focus is saving money · Basic simple reports are all you need · Businesses with less than three employees · The owner likes doing everything themselves · The owner has lots of free time to learn software · They do not fit our client profile of contracting for profit QuickBooks Desktop Version Cloud For Contractor Companies: ·  Is a construction company contracting for profit ·  Needs Job Costing reports and solid Financial Reports ·  Needs the power of the full QuickBooks Desktop Version ·  Is focused on saving money with innovations and cost control ·  Is open to implementing a Business Plan designed to increase sales QuickBooks Desktop Version In The Cloud - can reduce your overhead and increase your productivity. Being able to work from anywhere, anytime, with a single source for all of your data allows you to: · Reduce your travel time and expenses · Create, print, email invoices at the jobsite and get paid immediately · Simplify PC maintenance and network issues in your office · Access to remote support so you are never alone · You are in business for yourself but not by yourself · Increased efficiency access your live QuickBooks company files QuickBooks Desktop Cloud Prime Advantages Over QuickBooks Online · QuickBooks Online - Is a totally different version of QuickBooks. It is nothing like QuickBooks Pro, Premier, or Enterprise · We Have Contracted - With an enterprise level QuickBooks hosting service to provide you with English speaking well trained network technicians to support you and your staff. · You Can Use The QuickBooks Desktop Version - You have purchased or we can arrange to lease QuickBooks on a month-to-month basis and you will be upgraded to the latest versions every year at no additional cost. · QuickBooks Desktop In The Cloud - Allows access to multiple licensed users at the same time and they do not have to be in the same location, city, state or country for that matter. QuickBooks Cloud Computing Has The Same QuickBooks Desktop Features Because It's QuickBooks Desktop Running On A High-Speed Secure Cloud Server  QuickBooks Online - Does Not Have Effective: · Purchase orders · Inventory tracking · Sales order tracking · Job costing or estimating · Customized price levels · Integration with Excel, Word, or Outlook · Online bill payment · Payroll input · Forecasts · Business plans · QuickBooks Online - Does not allow user add-ons programs like: · UDA Construction Suite · Business Plan Software · Marketing Plan Software · Paperless Document Management · Scheduling Software · Job Costing Software · Project Management Software · Time Tracking Software QuickBooks Desktop Hosting - Can save you and your staff time, energy and money by using exactly the same QuickBooks interface you use on your local PC. 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Ten Thousand Hours To Master Construction Accounting Malcolm Gladwell, author of the book "Outlier" wrote about how The Beatles played nearly 10,000 hours together in Germany before the emerged as "The Beatles", Tiger Woods invested 10,000 hours on the golf course before he turned 21, Bill Gates as a kid put in 10,000 on his PC. Strategic Construction Bookkeeping - Is as different from standard bookkeeping as someone who spends their day maintaining a fancy dog house is from a professional remodel contractor! Professional Remodel Contractors - Have told me in no uncertain terms how they feel about unlicensed and super cheap contractors who underbid them for construction projects. In some cases they will try to warn customers about how "The Sweetness of Low Price Soon Fades While The bitterness of Poor Quality Lingers On". Sometimes The Customer - Will call you back to fix all the screw-ups and bad construction. In the end the customer ends up paying more money spending more time than if they had it done right in the first place.We See The Same Problem - When some construction company owners shop for bookkeeping services thinking all accountants and bookkeepers are the same. What You Can Expect From Our Strategic Bookkeeping Service:· Professional Bookkeepers with over 10,000 hours of practice · Cloud based desktop version of your QuickBooks · Cloud based document storage · Quarterly Tax Returns · Sales Tax Returns · Payroll Processing · Payroll Tax Returns, 941 and 940 · Contractor Invoicing · Work In Progress (WIP) Reporting · Pay Application Invoicing For Remodel Projects · Pay Applications For Tenant Improvement Projects (TI) · Job Deposit Tracking · Retention Tracking System · Insurance Audit Support Service · QuickBooks Reports · Job Cost Reports · Optional scanner for sending paperwork to us with the touch of a button · Five Key Performance Indicator Reports for monitoring your business · Business Processes Management · Business Coaching from someone who understands your industry· Construction Marketing Resources · QuickBooks Setup For Construction Company · Access to Private Meeting Space 24/7/365 We Cost Less - In the long run than a Cheap Bookkeeper because in order to provide strategic bookkeeping services means we have to recruit hire and train Professional Bookkeepers who have the following traits: · Minimum 10,000 hours or more of bookkeeping training and/or practice · Contractors bookkeeping is 90% repetitive and 10% complex entries · They know what to do with complex transactions · When they need help they have someone in the office to assist them · Arrives on time and leaves on time · Understands their job description is serve your customers · Cares about you as a person · Cares about your company · Cares about your staff · Cares about your suppliers · Cheerful, thinking, responsible adult · Focuses on their job while at work · Leaves home issues at home and work issues at work · Continually learns new skill sets because they take pride in their work · Embraces processes and procedures that allow everyone to succeed · Produce reliable and good reports · Takes lunch away from the office to recharge their minds and bodies · Take reasonable breaks during the day to clear their mind · Team players working to maintain the integrity of your QuickBooksProfessional Bookkeepers Demand:· A living wage with benefits · Air Conditioning in the summer and heat in the winter · Company paid training to continually update their skill sets · Do not expect them to ANSWER THE PHONE · Good lighting in their office and the building in general · Kitchenette with free beverages, snacks, frozen foods and a microwave · Library of online knowledge base available only to qualified Bookkeepers · Lots of room to spread out paper and assorted files · Private office with a door so they can work in quiet and think · 24-7 technical English speaking U.S. based phone support · The latest in computer hardware and software with lots of power · Two large flat screen dual monitors with DVI inputs and high resolution We understand and implement as much as possible the following:  · Deming’s 14 points  · Covey’s 7 Habits  · Good To Great Professional Construction Accountants And Bookkeepers - Are worth it because each one can do the same amount of work as five or more standard bookkeepers and do it with greater accuracy because they have the proper equipment, training and support for strategic construction bookkeeping. Just Like You Warn - Homeowners about the hidden cost of cheap low priced construction companies we try to warn construction business owners about the true cost of Cheap Bookkeepers. Too often some contractors will think they can hire a Cheap Bookkeeper to save money in all too often the results are catastrophic! In The End - Bad Bookkeepers will leave you with unfiled and unpaid taxes, gasping, upset, with tear stained checks, wide-eyed, stupid, mouth open, standing in the middle of the highway of business success staring at the remains of your business, crashed, rolled over, upside down, in the ditch, on fire, with flames belching from all sides with no hope in sight. I Have Seen Bad Bookkeepers - Ruin far too many businesses, especially construction businesses. In most cases it was Bookkeeping Incompetence, in some cases Bookkeeper Embezzlement and in other cases it appears to have been deliberate. All I know for sure is that I have witnessed business failures that have led to divorce, families destroyed, finances wiped out and people living on the streets. In a few extreme cases I know of contractors that have taken their own lives because they were so stressed out and had lost hope. Replace Your Wealth Prevention Tool Before It Is Too Late!Outsource Your Contractors Bookkeeping Services Now! Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; line-height:115%; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;} 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]

Fixed Price Puts The Burden On The Bookkeeping Service - Hourly Rate Which Puts The Burden You Fixed Price - Contractor bookkeeping needs to be done right and on time. Hourly Rate - Contractors bookkeeping can take as long as you will put up with and re-done over and over because the longer it takes the more they make. Which One Is Best - For you depends upon your Business Strategy and if you like to know what something will cost each month or if you like to be surprised.Fixed Price: #01 No long term contracts; month-to-month service #02 Performance and results based; not efforts and excuses #03 They have professional bookkeepers and systems in place #04 Save money on income tax preparation and the taxes you pay #05 Your bookkeeping services are budgeted and fixed in advance #06 We recruit, hire and train the best bookkeepers available #07 We have solid reliable office equipment, hardware and software #08 We provide comfortable offices with amenities to retain the best construction accountants and bookkeepers #09 We have a system to process data quickly and efficiently with limited interaction from you or your staff #10 Your get bookkeeping, payroll, invoicing, quarterly tax reports, and business consulting for one fixed price Our Bookkeeping Services System Is Always Improving To Better Serve Your Needs! www.FastEasyAccounting.com/CBS Better reports means you make better decisions!Which means you can make more money! Which means more profit for you! Hourly Fee:#01 You get whatever level of expertise they decide to hire that day #02 They recruit, hire and train the whatever bookkeepers work cheap #03 They have whatever office equipment, hardware and software is cheapest #04 You pay for best efforts of whomever is doing the work for as long as it takes #05 Your bookkeeping services are always a surprise...sometimes good and sometimes bad #06 You can micro-manage how your bookkeeping is done because you are paying by the hour which means they may be sitting and staring at the paperwork while you think your contractor bookkeeping services are being performed We get a lot of clients who were paying for bookkeeping services by the hour and are thrilled to have us take over their bookkeeping, payroll and quarterly reports. Can We Be Your Contractor Bookkeeping Service? 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 construction contractors like you so stop missing out and call Sharie 206-361-3950 or email [email protected] Thinking About Outsourcing Your Contractors Bookkeeping Services? Click On The Link Below: www.FastEasyAccounting.com/hs Need Help Now? Call Sharie 206-361-3950 [email protected]