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

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, main

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 H

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 f

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 T

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 Cause

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 p

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 Compa

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. Con

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 routi

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 sincerel

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

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 in

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 sharie@fasteasyaccounting.com 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

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 eve

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 amo

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 sa

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 C

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 w

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.

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