Contractor Success Map With Randal Dehart | Contractor Bookkeeping And Accounting Services

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

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? T

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

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 T

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

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

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 you

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 a

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, Handym

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, m

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 th

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

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

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

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

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 Constructi

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 phy

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 ·    H

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 g

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