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

This Podcast Is Episode Number 0092 And It Will Be About Reducing Your Construction Company Start Up Stress We Are QuickBooks Experts Specializing In Construction New Contractor's Have horrendous Levels of Stress Did You Quit Your Job - And start your own construction company only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money? Now that can be stressful!Did You Ask A Friend Or Relative - To loan you some start-up capital and they agreed on condition you become equal partners in your construction company. The idea was you would do all the work they would get half the profits and you politely refused, or not? This is getting very stressfulDid You Go To Your Bank - And they offered to give you a line of credit. They don't want to be partners they just want everything you own used for collateral. You say O.K. and then find out the interest rate is 24% (more or less) and they can call the loan due if you ever miss a payment and take everything you own?. This is gett

This Podcast Is Episode Number 0091 And It Will Be About Local Vs. Cloud Based Contractor Bookkeeping Services One of the biggest concerns contractors have about outsourcing their contractors bookkeeping to a cloud based contractor accounting service like ours is they think it means sending jobs off-shore rather than keeping your dollars in America where they can help other Americans. In too many cases that is exactly what occurs. Understanding the differences between Outsourced, Offshore and Freelance Bookkeepers is the key. Outsourced Contractor Bookkeeping Services Like Us Have Pros And Cons: Pros1. We offer Flat Rate pricing, no surprises, no heartache, no regrets, no long term contracts, month to month, cancel anytime because we are paid for results not efforts 2. We specialize in construction accounting and working with contractors across the USA including Alaska and Hawaii 3. All work is done in our commercial office in Lynnwood Washington which is open to the public 4. We care about contractors who w

This Podcast Is Episode Number 0090 And It Will Be About Does QuickBooks Frustrate Your Construction Company? Does QuickBooks Frustrate You? If You Answered "Yes" You Are Not Alone! 99.99% of all QuickBooks Issues can be traced back to two root causes: 1.    How QuickBooks setup was done originally2.    How transactions are put into QuickBooks QuickBooks Makes Construction Accounting Look Simple As Microwaving Popcorn How many advertisements have you seen by Intuit, the maker of QuickBooks that makes it appear like accounting is so simple a five year old can do it. The truth is Intuit is a sales and marketing firm that sells and markets software. And QuickBooks is one of the big winners for them because it has removed a lot of the pain associated with accounting; but it is still accounting and certain principles still apply. For example "Debits" are on the left and when they are not we give them "Credit". When you write a check in QuickBooks you can impact up to 27 different tables and hundreds of reports

This Podcast Is Episode Number 0089 Interview Of Dan Perry Founder Of HandymanStartup.com The Following Is An Outline From Dan Perry's Guest Appearance On The Contractors Success M.A.P. Podcast which you can listen to below. It is on iTunes, Stitcher Radio, Pocket Casts and all popular podcast directories. Dan Perry is the founder of HandymanStartup.com - a community dedicated to helping handymen, plumbers, electricians, and contractors understand business and marketing so they can get more customers, make more money, and enjoy their businesses. Connect with him at www.handymanstartup.com or on twitter @bigdhandyman. Dan, please tell us about your background and how you came to be where you are now.Originally from a small town, I went to college in Reno, NV with no idea what I wanted to do. I decided to major in Mechanical Engineering because I didn’t know any better.  I graduated, got a job in Engineering, and hated it.  I worked there for 3.5 years before I finally quit without a plan or job.  6 months late

This Podcast Is Episode Number 0088 And Will Be About How Business Process Management Strategy Can Benefit Your Construction Company Developing A Comprehensive Strategy - For your construction, company can be about as much fun as wrestling a pig in the mud because: It is a slippery and hard to get control over it It will wear you out and frustrate you to no end You will swear it is a complete waste of time Your contractor buddies barely making a living will think you're crazy In the end you will be thoroughly worn out, exhausted and mentally drained If You Are One - Of the few contractors that starts doing it your eyes will be opened to new possibilities and you will catch a glimpse of how and why some contractors become very wealthy and others never get beyond owning a job they cannot leave and nobody wants to buy. A Few Contractors - And you may be among them will do whatever it takes to rise above owning a job and develop a construction company that will provide for themselves and their families for a l

This Podcast Is Episode Number 0087 And Will Be About Which Costs Your Contracting Company More Money Bookkeeper Theft or Incompetence? Bookkeeper Incompetence - No Question About It! The Little Leaks Sink The Ship - Whenever a disaster hits your company, like Bookkeeper Theft it gets your attention real fast and you tend to jump on it with both feet and fix it! However it is the little leaks caused by bookkeeper incompetence or even worse Bad Bookkeepers that will destroy you company. The Top Ten Incompetent Bookkeeper Habits That Can Destroy Your Business:1. Not sending Invoices and Statements to your customers and clients2. Not collecting money your customers and clients in a timely fashion3. Fines and penalties when they fail to get tax reports filed on time4. Late fees, and interest charges from not paying the bills on time5. Not taking discounts from suppliers for paying by the 10th of the month6. Not tracking loans to employees and being sure the company is paid back7. Bookkeeper stretching work and

This Podcast Is Episode Number 0086 And Will Be About The Twelve Warning Signs You Hired The Wrong Contractor Bookkeeping Service My Previous Accountant Never Could Understand My Business! If you are a contractor, you know what to look for when you need to hire skilled construction workers. The longer you have been in construction the more experience you have including a sixth sense about who is likely to be a good fit for your team and who is not. You can spot wanna-bees, clowns, and firebrands in an instant, and you know that if you are thinking about firing someone; you are already fifteen minutes too late! 99.99% of Construction is "Tangible" which means you can judge it using your five senses. You can See, Hear, Touch, Smell and Taste it and you know when it is good or bad. 99.99% of construction accounting is "Not-Tangible" including financing, taxes, payroll processing, payment applications, financial statements, cash management which means you may have to rely on your gut-feeling to know when someone

This Podcast Is Episode Number 0085 Part Two Of Sean Kavanaugh's Interview On Contractors Success M.A.P. Podcast The Following Is An Outline From Sean Kavanaugh's Guest Appearance On The Contractors Success M.A.P. Podcast. It is on iTunes, Stitcher Radio, Pocket Casts and all popular podcast directories. Editors Note: In case you missed Part One you can click on this link to listen to it. The text below is a recap of the entire interview.-----------------------------------------------------------------Hey Randal thanks so much for having me on the show. I really appreciate it.I guess before we dig in I should probably give a bit of background on myself. My name is Sean Kavanaugh and I've been in the plumbing business in the Chicagoland area in some capacity for 22 years.Right out of college I began working for my father at Litvin Plumbing where he was the president.Litvin was a fairly famous hi-rise contractor and one of the first high rise contractors in Chicago doing the plumbing work for the John Hancock B

This Podcast Is Episode Number 0084 And It Will Be About How High Profit Small Contractors Fund Working Capital With OPM Construction Working Capital - Definitions are complex and can take a lot of room to explain and since we are primarily concerned about helping small construction companies like yours to make a lot of money I will keep it simple and easy. Construction Companies Need Short-Term Liquid Working Capital such as cash, lines of credit, loans, owner financing, credit cards, supplier accounts and other forms of money to conduct daily operations. Small Construction Companies With Annual Sales Less Than $10,000,000 and other requirements enjoy some benefits that are not always available to larger firms. Likewise, larger firms can leverage economies of scale The Larger Your Construction Company - grows the more likely you could end up operating like a bank without the hundreds of ways to generate revenues from fee income and interest calculation that banks use. The Most Popular Method - Which was desi

This Podcast Is Episode Number 0083 And It Will Be About Secrets Of Successful Construction Companies Clients Often Ask - Us why some of their competitors Construction Company owners make a lot of money than they do when they are both doing similar work.Here Are The Top Five Secrets - We used in our Construction Companies in the past and that we see successful Construction Company Owners doing now that keep them in the top 20% of the income producers. #01 They Know What They Want - From their Construction Company. They took the time to think about what they want and they wrote it on a piece of paper by hand in cursive, just a paragraph or two and they keep in a private location. Somewhere they can see it when they want; which is at least once a week and they hold that vision in their mind. #02 They Plan Their Work And Work Their Plan - Sounds simple right? Well it is and here is the overall strategy for your Business Process Management (BPM) System and the main tool to start with is a copy of this Business Pl

This Podcast Is Episode Number 0083 And It Will Be About Business Round Table - Where Contractors Learn How To Fail! Tonight And Every Night - Including daytimes and weekends, a lot of construction company owners will gather at the Business Round Table. It is the little Round Table at the local bar where the go to teach each other all kinds of ways to run their contracting company. Unfortunately, for the attendees most of the discussion is based on hearsay, conjecture, stories from curbstone lawyers, half-witted bad bookkeepers, construction company owners on the edge of bankruptcy and people that have already run their businesses into the ground and learned nothing. Business Round Table Meetings - Are held at every local tavern, beer garden, lounge, backyard Bar-B-Q, anywhere contractors go to unwind after a tough day in construction. The Contractors Who Attend These - Discussions are for the most part very intelligent, articulate bright men and women who understand the construction trade at a very deep leve

This Podcast Is Episode Number 0081 And It Will Be About Bookkeeping Services For Contractors Using QuickBooks If You Own A Construction Company - Then you understand that Bookkeeping is just one of those mundane, nasty, dirty, aggravating, grubby little chores you get stuck with along with its rotten scoundrel cousin the Monthly / Quarterly Tax Reports. If You Have Employees - Whoa! Look out! Now you have payroll to process, in some cases you may decide to provide cash advances to your employees to keep them focused on the job and not on personal issues and finally there are all the Payroll Taxes you need to keep track of and file the reports for on a regular basis.Some Contractors - Decide their time is more valuable spent meeting prospective clients, putting together bids, managing jobsites and a whole lot of other things other than bookkeeping. So they find someone else to do it and that is the subject of this article. Just Like There Are - Skilled construction workers and clowns trying to pass themselves

The BCG Matrix Is One Of The Tools Fast Easy Accounting Uses To Help Construction Contractors Increase Profits Developed By Bruce Henderson - For the Boston Consulting Group in 1968 to help corporations analyze business units or product lines. It helps companies allocate resources and is used as an analytical tool in brand marketing, product management, strategic management. No Two Construction - Companies are alike. Every construction company has a unique blend of ownership and management philosophies, tools, equipment, staff, field employees, geographic location, and relationships with suppliers, vendors and professional service providers. This Means - That if construction company "A" earns a better than average profit percentage on residential remodel it does not follow that company "B" will be able to do the same. Get Rich In A Niche - By finding your company's sweet spot, that particular thing you are good at, that people want and will pay good money for and that you are best suits you. Then you spend t

Contractors Want Money; Banks Want To Lend Money, What's The Problem? Think of all the times: You loaned money to a friend or relative Provided labor and material for construction project without any deposit Did change order work that you never got paid for doing and never will Gave employees advances on their paycheck and never got paid back Multiply That By 100,000 And You Will Begin To Understand Why Banks Seem So Tight Fisted About Loaning Money Banks stay in business is by loaning money and earning interest. They work hard to find people and businesses and contractors that are good credit risks they can loan money too and get paid back in a timely fashion, with all of the interest due to them. Do your best to avoid raising any red flags. Five Red Flags To Avoid: #1 Your Profit & Loss and Balance Sheet Reports do not conform to financial industry standards #2 The financials tell the banker your bookkeeper doesn't understand Construction Accounting #3 The preparer's signature on the annual tax return

This Podcast Is Episode Number 0077 And It Will About QuickBooks Setup For Contractors We Fix Bad QuickBooks For Contractors Setup Issues. Did someone setup QuickBooks by trying to follow the built in template inside QuickBooks and you figured out you cannot get any of the financial and job costing reports you need to operate and grow your construction company? Let us handle your QuickBooks setup for your contracting company because accurate QuickBooks contractor reports are what profitable contractors use to help them steer their construction company through the ups and downs of the business cycle. We Do QuickBooks Setup For Construction Beginning With Year 2000 And Up Click Here For QuickBooks Setup Templates For Contractors · QuickBooks Pro 2000 And Up · QuickBooks Premier 2000 And Up · QuickBooks Premier Contractor 2000 And Up · QuickBooks Premier Accountant 2000 And Up · QuickBooks Contractors 2000 And Up · QuickBooks For Contractors 2000 And Up · QuickBooks Enterprise Contractors 2000 And Up · QuickBook

This Podcast Is Episode Number 0077 And It Will About How Outsourced Bookkeeping Saved A Remodel Contractor's Company Over the years I have spoken to hundreds of contractors about backing up their QuickBooks Some contractors have acted on the idea, and others, not so much. There are two kinds of contractors who use computers: Those who have yet to experience fire, flood, theft, bad bookkeeper or hard drive crash Those who have and are now passionate about spreading the word about backups This particular contractor is one of the nicest, gentlest and friendliest people you will ever meet; typical of all good contractors! He is a large and powerful man having worked in construction for over 30 years. Let just say he knows how to communicate in a gentle but firm way to get his point across to his employees and trade contractors. He was not particularly interested in the fact that we have remote servers and that our clients QuickBooks files are backed up every night. --------------------------------------------

This Podcast Is Episode Number 0074 And It Will About The IRS And Your Contracto QuickBooks File Will Your QuickBooks File Stand Up To An IRS Audit? Bad Construction Bookkeeping Practices Raises Red Flags As A Contractor You Get - A lot of attention from the local, state and Federal tax agencies because by nature you spend most of your time standing up, moving around, building, remodeling, repairing, maintaining stuff that makes civilization possible; and not enough time and energy on your construction bookkeeping. Construction Accounting And Bookkeeping - Involves a lot of sitting, intense reading, boring, routine, mundane work and a whole lot of continuing education classes and seminars. It is like flying an airplane, 98% boredom with 2% sheer terror! So You Tend - To put it off as long as possible or find a cheap bookkeeper and both options end in pain and tears. It Is Old News - To most accountants that the Internal Revenue Service (IRS) can ask for an EXACT COPY of your QuickBooks file and that they have

This Podcast Is Episode Number 0074 And It Will About Our Contractors Accounting Services Unique Differences Aren't All Bookkeeping Services The Same? That's a fair question and one I can respect because on the surface every business, industry and service provider appears to be the same. Coffee is coffee isn't it? Coffee from Starbucks could be said to be ground up coffee beans that have been mixed with hot water and how can that be any different than coffee from the machine that sits in the corner of the Greyhound Bus terminal? Wine could be said to be grapes pressed, aged and put into a container. What makes Inglenook Cabernet Sauvignon NAPA Valley, 1941 worth more than wine under $5 at Trader Joe's? Long ago in a bike shop near Greenlake in Seattle, Washington I went shopping for a bike helmet and asked the clerk for a "cheap helmet" because in my mind all bike helmet were the same and I was not about to be ripped off. He had a profoundly simple answer: "If You Have A $10 Head Buy A $10 Helmet" He said it

This Podcast Is Episode Number 0073 And It Will Be Leveling Up Makes Contractors Wealthy Your Thinking - Patterns and what you think about the most is why you are where you are now. It is worth noting there is no profit in chaos and the sooner you understand that the better. It May Be Too Late - To recoup past losses from chaos but it is not too late to stop it from happening again. To begin with get a clear understanding of What Ten Minutes Costs Your Company and begin implementing a Business Strategy to eliminate chaos. When You Have - A Business Strategy for your construction company everything changes in your life and your construction company because you will see everything in different light. You May Find - Yourself with a different caliber of friends because of the leveling up process. Birds And People - Flock together with others like themselves because it is comfortable. It only makes sense to soar with eagles rather than keeping your head down pecking at the ground with the chickens. Your Income - I

This Podcast Is Episode Number 0072 And It Will Be About Why Good Tax Accountants Make Bad Contractor Bookkeepers Tax Accountants - Can kill more cash flow and profit in your construction company in less than an hour using a messed up QuickBooks file to prepare your construction company annual tax return than you can make up for in sales and hard work six months, if not six years. Saving money on your tax bill is not what they are paid to do; they are paid to fill out tax returns. This Is Not A Bad Thing - Rather it is a simple fact of business, people and companies do what they are paid to do. Tax Accountants also do not form, place and finish stamped concrete driveways at high noon on a hot summer day and they do not frame houses or rough-in plumbing, electrical or HVAC for the same reason; that is not their primary skillsets and they are not paid to do it. Professional Accountants - Understand the relationship between QuickBooks and the Internal Revenue Service, IRS and the importance of paying the right a