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

It May Help You To Have An Overview Of The Construction Accounting Team Members At Fast Easy Accounting After reading this, you will understand and appreciate why you get lots of attention from your Customer Service Manager and little or no attention from other staff members. Our back office Construction Bookkeepers and Accountants are highly skilled professionals with the burning desire to be the best of the best in their field. Due to the sensitive nature of our work and the need to safeguard your financial records the back office staff of Construction Bookkeepers and Accountants, interact with our contractor clients because we intentionally hire people who are serious, unfriendly and unsociable. No contractor in their right mind wants a friendly sociable Construction Bookkeeper sharing client information with your competitors, employees and suppliers. Our Construction Bookkeepers and Accountants Team Members have hands on experience in construction, have a great deal of respect, empathy, and sincerely car

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) = CashProfit And Loss Report.........................(Sales - Expenses) = ProfitBalance Sheet Report..........................(Assets - Liabilities) = EquityRegular Accounting - Makes up 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: #01 Accounts Receivable#02 Accounts Payable#03 Profit & Loss#04 Balance Sheet It Is Practically All that is taught in schools, colleges and universities.Regular Accounting Is Used In Fixed Environments - 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:

Hundreds Of Reports Are Inside QuickBooks For Contractors Five KPI Reports Are The Most Important To Contractors Success QuickBooks Reports Are In Four Categories: #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 and more. #02 Primary Financial Reports like Profit & Loss and Balance Sheet how your construction company is doing from a big picture view like looking out the window of an airplane cruising at 30,000 feet. They can be sorted and filtered to provide more detail and you can drill down into each and every transaction if you want too. #03 Job Costing Reports like Profit & Loss By Job, Job Profitability and Estimates Vs. Actual Reports provide you with the foundation reports that can help you understand where you construction company is making an losing money. The 80/20 Rule For Construction Success. #04 The Five Key Performance Indicator Reports are special combination of re

Contractors Want More Leads And Here Is One That Works! www.footworkflyers.com/ Realtors have sellers who need some work done on a home or commercial property and shortly after the property is sold the new owner usually, have a few repairs and in some cases major remodel work to be done. We all get newsletters, flyers from local companies and some we pay attention too, and the rest we discard. In the realtor community, Footwork Express has a good reputation and since it has been around for a long time and is a great resource for contractors looking to establish contacts with potential realtor referral partners. They deliver flyers to the major real estate office in greater Seattle area. In the early years, this was the main way realtor offices communicated with each other on brand new listings, upcoming open houses, price changes and special financing offers. Over the years, Footwork Express expanded their services to include others outside of real estate agents who provide professional services that are hel

What Paperwork Do We Want? Contractors Have Asked What Paperwork - They should bring to us in order to get their construction bookkeeping brought current and the simple answer is all of it! You Don't Have To - Organize for us because we have a system from having owned and operated several construction companies in the past, we are not pansy construction bookkeepers that need to be pampered and are easily offended; quite the opposite. Organizing Construction Bookkeeping Paperwork Is Like Herding Cats! You Can: · Drag and drop it to a special folder we setup on your computer desktop · Mail it to us 19909 64th Ave West, Suite 201, 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 can leave paperwork in the lockbox · Put us on your vendor list to have bills and statements emailed to us · ScanSnap Scanner sends paperwork with push of one button Learn More · Bring it in bags, boxes, baskets, whe

Every Piece Of Paper, Receipt, Invoice, Bank Statement, Notice, Loan Statement Triggers A Memory And You Relive It Again And Again! Three Examples: #01 Every Invoice when you did not get paid or took a discount #02 Every Receipt for materials, subcontractors or other costs #03 Every Time Card reminds you of what your employees did or didn't doWhen your bookkeeper or your outsourced contractors bookkeeping service does the day-to-day bookkeeping they are not emotionally invested in every transaction, which is why it takes them only a small fraction of the time to do your contractors bookkeeping and accounting services. They did not live the event, which means 100% of their focus, and concentration is on getting the transactions into QuickBooks or Xero Accounting Online ASAP! Put Your Time And Effort Into Making Money As the contractor you are the most valuable employee in your company. You have the most versatile skill sets of anyone in your company and it can be a blessing or a curse. If you believe you are t

Having A QuickBooks Emergency? QuickBooks Is A Mess And You Need It Fixed Now! When Any Of The Following Things Happen Call The Contractor Bookkeeping Experts 206-361-3950#01 You just opened your construction company and need QuickBooks setup and you need some business advice too! #02 You are getting ready to open your construction company and need QuickBooks setup and you need some business advice too! #03 Payroll is due or overdue and you need it processed now! #04 Your tax preparer refuses to prepare your tax return because your construction company QuickBooks is a mess! #05 Your customers refuse to pay until you provide an Invoice that makes sense! #06 You don't know for sure who owes you money because they are waiting for your Invoice! #07 You need an Invoicing Service to prepare and mail or email your invoices for you! #08 You don't know for sure who you owe money too and if they are double billing you! #09 You verified QuickBooks data and got the error message in a box #10 You need to get a bank loa

Deliver A Dozen Donuts, Pastries, Muffins Or Any Tasty Bakery Product! A lot of contractors are having challenges adapting to the new 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 challenging as well. If you are a trade contractor, subcontractor or whatever you call yourself and you want more opportunities to bid jobs this one marketing method works and works big no matter where you are located. Big city small town, it does not matter. Every general contractor gets hundreds if not thousands of sub-contractors, trade contractors, suppliers, bankers, customers and even construction accountants asking for something. So if you want to stand out in the crowds use this tiny bit of construction psychology because it works! We serve contractors across the USA and mentioned this idea to all of them at least once and only a few of them do it. Could be a variety of reasons, too much work to get to now, busy on other projects, w

Hiring A Bookkeeping Service For Your Contracting Company Is Not Like Hiring A Construction Worker Would it be a fair statement to say you know what to ask when hiring a construction worker for your contracting company? If you need a Licensed Journeyman, you know what to ask for and you know what to expect. If you need an apprentice, you know what to look for and what to expect. In most cases, you take over where their parents left off; however, that is a topic for another podcast. The first thing you need to be aware of is not all accounting is the same. Just because someone is skilled in framing spec houses does not mean they can suddenly install expensive wood trim and perform finish carpentry in the home of your most valuable client and the reverse is true as well isn't it? Just because a bookkeeping service provides regular bookkeeping services does not mean they can perform construction accounting services. Regular bookkeeping is similar to production framing in a tract home development. Construction bo

Hiring A Bookkeeping Service For Your Contracting Company Is Not Like Hiring A Construction Worker Would it be a fair statement to say you know what to ask when hiring a construction worker for your contracting company? If you need a Licensed Journeyman, you know what to ask for and you know what to expect. If you need an apprentice, you know what to look for and what to expect. In most cases, you take over where their parents left off; however, that is a topic for another podcast. The first thing you need to be aware of is not all accounting is the same. Just because someone is skilled in framing spec houses does not mean they can suddenly install expensive wood trim and perform finish carpentry in the home of your most valuable client and the reverse is true as well isn't it? Just because a bookkeeping service provides regular bookkeeping services does not mean they can perform construction accounting services. Regular bookkeeping is similar to production framing in a tract home development. Construction bo

Hiring A Bookkeeping Service For Your Contracting Company Is Not Like Hiring A Construction Worker Would it be a fair statement to say you know what to ask when hiring a construction worker for your contracting company? If you need a Licensed Journeyman, you know what to ask for and you know what to expect. If you need an apprentice, you know what to look for and what to expect. In most cases, you take over where their parents left off; however, that is a topic for another podcast. The first thing you need to be aware of is not all accounting is the same. Just because someone is skilled in framing spec houses does not mean they can suddenly install expensive wood trim and perform finish carpentry in the home of your most valuable client and the reverse is true as well isn't it? Just because a bookkeeping service provides regular bookkeeping services does not mean they can perform construction accounting services. Regular bookkeeping is similar to production framing in a tract home development. Construction bo

Hiring A Bookkeeping Service For Your Contracting Company Is Not Like Hiring A Construction Worker Would it be a fair statement to say you know what to ask when hiring a construction worker for your contracting company? If you need a Licensed Journeyman, you know what to ask for and you know what to expect. If you need an apprentice, you know what to look for and what to expect. In most cases, you take over where their parents left off; however, that is a topic for another podcast. The first thing you need to be aware of is not all accounting is the same. Just because someone is skilled in framing spec houses does not mean they can suddenly install expensive wood trim and perform finish carpentry in the home of your most valuable client and the reverse is true as well isn't it? Just because a bookkeeping service provides regular bookkeeping services does not mean they can perform construction accounting services. Regular bookkeeping is similar to production framing in a tract home development. Construction

Hiring A Bookkeeper For Your Contracting Company Is Nothing Like Hiring A Construction Worker Would it be a fair statement to say you know what to ask when hiring a construction worker for your contracting company? If you need a Licensed Journeyman, you know what to ask for and you know what to expect. If you need an apprentice, you know what to look for and what to expect. In most cases, you take over where their parents left off; however, that is a topic for another podcast. The first thing you need to be aware of is not all accounting is the same. Just because someone is skilled in framing spec houses does not mean they can suddenly install expensive wood trim and perform finish carpentry in the home of your most valuable client and the reverse is true as well isn't it? Just because a bookkeeper can perform regular bookkeeping duties does not mean they can perform construction accounting duties. Regular bookkeeping is similar to production framing in a tract home development. Construction bookkeeping is si

Hiring A Bookkeeper For Your Contracting Company Is Nothing Like Hiring A Construction Worker Would it be a fair statement to say you know what to ask when hiring a construction worker for your contracting company? If you need a Licensed Journeyman, you know what to ask for and you know what to expect. If you need an apprentice, you know what to look for and what to expect. In most cases, you take over where their parents left off; however, that is a topic for another podcast. The first thing you need to be aware of is not all accounting is the same. Just because someone is skilled in framing spec houses does not mean they can suddenly install expensive wood trim and perform finish carpentry in the home of your most valuable client and the reverse is true as well isn't it? Just because a bookkeeper can perform regular bookkeeping duties does not mean they can perform construction accounting duties. Regular bookkeeping is similar to production framing in a tract home development. Construction bookkeeping is si

Hiring A Bookkeeper For Your Contracting Company Is Nothing Like Hiring A Construction Worker Would it be a fair statement to say you know what to ask when hiring a construction worker for your contracting company? If you need a Licensed Journeyman, you know what to ask for and you know what to expect. If you need an apprentice, you know what to look for and what to expect. In most cases, you take over where their parents left off; however, that is a topic for another podcast. The first thing you need to be aware of is not all accounting is the same. Just because someone is skilled in framing spec houses does not mean they can suddenly install expensive wood trim and perform finish carpentry in the home of your most valuable client and the reverse is true as well isn't it? Just because a bookkeeper can perform regular bookkeeping duties does not mean they can perform construction accounting duties. Regular bookkeeping is similar to production framing in a tract home development. Construction bookkeeping is si

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. McDonalds 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 Customers And Clients Want To Use Their Credit Cards For Construction Projects Unplanned Emergencies - Are stressful enough now add "how am I going to pay for this" to the mix increases the anxiety! 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 they like and trust you very likely they will call you. Accepting All Credit Cards - Makes you the hero because they get instant financing and your Electronic Armored Car takes your money to the bank. Not accepting credit cards or worse yet only accepting Visa and MasterCard and not American Express makes people suspicious about the integrity of your cons

Why Are Add On Sales So Profitable? Because You Have Already Incurred Marketing And Mobilization Costs Marketing Costs - Are what is cost your company to acquire and maintain the job. Depending on how you allocate marketing dollars as a percentage of sales or 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 contractor bookkeeping reports. Mobilization Costs - Are the costs you incurred to get a crew to the jobsite in terms of travel time and vehicle operating costs and then the labor costs to unload tools, equipment and material and put everything in places for easy access and not in the way of the work to be done. These costs are generally high and fixed. Demobilization Costs - 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 als

Emerging Contractors Welcome Here Any Construction Company - That is ready to take a long hard look at what has worked, not worked and map out a strategic plan for the future. This includes brand new contractors, seasoned contractors that have been in business since dirt was two days old and everyone in between. It is limited to construction companies with sales last year between $0 and $5,000,000 where the owners are actively involved in the company's operations. The Economy Has Tough On Contractors - During the recession beginning in 2009 and anyone who says otherwise is either not in construction or a dim-bulb trying to sell you non-existent sky-hooks, pipe stretchers, lumber extenders or my favorite a box of 2-9/16" holes for 2" plumbing drain waste and vent pipe. You Have Made An Important Decision - To own and operate a construction company. Most of you came from the skilled construction trades, some of you were working as a manager for a construction company. Some Of You Believe Competition - Is the

Contracting Is An Excellent Career Choice For A Select Few It Is A Calling A professional contractor may wear work boots, tool belt and a hard hat every day and they are on a mission to make our homes and businesses a better place to live, work and play. Who is an Emerging Contractor?    Our formal definition of an Emerging Contractor is "Anyone who is ready to make changes, grow and improve their construction company" Simple, straightforward and to the point.  By improve we mean developing a contracting company that generates annual profits of 10% or more after the owners salary and benefit package. The industry standard for contracting companies profits has been roughly 2% for several decades and most of the reason is contractors start a company without a strategic plan. The purpose of this series of podcasts is to help contractors discover, learn and implement the Contractor Success M.A.P. Learn More at www.fasteasyaccounting.com/contractors-success-map/ If You Are Ready To Expand Your Construction Com