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

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

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

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 Ki

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.

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 m

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

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 qui

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 mor

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)

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 s

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

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