Most Contractors would never expect or allow their staff out in the field to do sloppy, tacky craft 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 are only so many hours in the day and not enough hours to do everything.
Highly successful contractors know they need useful reports to understand where their company is going and what type of jobs to bid and accept. If and when to hire additional employees.
Smart contractors know when to hire someone with the skill sets they or their office staff does not have. 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 - shoebox, file box, paperwork behind and under the truck seat, on the table, or piles on the countertop, 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!
If 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 just a payment. Only because to pay something to someone does not make it an expense to the business. And just because you 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,” They are not so generous with deductions because the more income you have, the more taxes you pay.
Are you frustrated with your construction bookkeeping setup? Our products are created with you in mind. Whether you would like to hire our services or buy our QuickBooks/Xero set up and cost codes templates, we are here for you. I am just an email or phone call away.
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 email@example.com.