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

This Podcast Is Episode Number 0071 And It Will Be About My Step Father's Inspiration Why I am producing this podcast is because it occurred to me that I may be coming across as a bit stern and serious. The reality is I am simply a Great Big Teddy Bear that loves accounting and helping contractors achieve their definition of success and anyone who has anything to do with building, remodeling or maintaining our homes and businesses. I was raised in a construction family in Seattle Washington in a quaint little house in the Interbay neighborhood, nestled in between Queen Anne to the east and Magnolia to west. It is also home to a railway switchyard which means in the 1960’s it was a great place for a young man to have some “Character Building Experiences” as it was a rough and tumble, tough and gritty place to hang out. My Step Father was a Landscape Contractor and he was my inspiration for going into construction and later becoming The Contractors Accountant. This is his and my story of how it happened. As I

This podcast is episode number 0070 and it will be about having a Board of Advisors for your construction Company Large Enterprise Level National And International Construction Companies have a Board of Directors to develop and oversee the Strategic Objectives of the company. They can provide insights from a very high level top down view because the board members are already skilled in running similar firms, which means they know how to navigate the treacherous waters of the difficulties in the construction industry. This one thing can dramatically improve your quality of life and everyone around you because it is part of the BPM, which is helping you go from working IN your company to working ON your company. Follow This Step-By-Step Process: #1 Find A Commercial Banker You Can Work With Go to your bank and ask to speak with the commercial banker. Every bank has one and they can be one of your most powerful allies and mentors. The good news they are on the banks payroll. Tell them you are working with a con

This podcast is episode number 0069 and it will be about Be-Do-Have Occasionally I step out of my role as The Premier Construction Accountant and into another one of my many roles, that of a Project Manager. In 2004 on a sunny day I sat in a room for several hours and worked very quietly while laboring over the Project Management Professional exam which was administered on behalf of the Project Management Institute. www.pmi.org At the end of the exam, I was exhausted and relieved. I passed with a very high score, which meant I was now a member of an elite group of people who understand and do our best to adhere to the standards and principles of Project Management and have the internationally recognized title Project Management Professional, PMP that you may have seen after my name; Randal DeHart, PMP Roughly, 80% of Project Management involves strategy. In any effective and efficient project, strategy precedes planning which precedes work. Most failed projects can be traced back to bad strategy. It has been

This podcast is episode number 00068 and it will be about why contractors bookkeepers embezzle and steal “A recent study found that business school education not only fails to improve the moral character of the students, it weakens it. ..students were asked, if given a chance of being caught and sent to prison, they would attempt an illegal act that would net them a profit of more than $100,000; more than one-third responded ‘yes’." Bad Bookkeeper Embezzlement stems from a feeling of entitlement and the need to get even. Listed below are some of the reasons bookkeepers have used to explain why they did it: #01 “I’m really not 100 percent sure why I did it. I’ve been thinking about that the last two-plus years.” #02 "I hate bookkeeping, anyway." #03 "I could use $10,000 to put a little spice in my life.'” #04 "I am not getting a fair shake at work." #05 "They owe it to me because I am the one doing all the work around here." #06 “I’ve made a lot of mistakes and now I’m forced to answer to them.” #07 "I was get

This podcast is episode number 0067 and it will be about Why It Pays To Offer Employee Advances Sometimes Construction Company Employees Need A Little Cash Between Paydays. Owning a contracting company with employees and a burning desire to generate a profit means  you need to do whatever you can within reason to help keep them focused on their job. If a need arises for cash between paydays they have several options and here are two of them: Option #1 - They get a payday loan from one of the many companies that offer that service. A typical 14-day advance of $100 will cost them roughly $15 which is approximately 391 percent annual interest rate. If they do it regularly, it can cause your good employee to get deeper and deeper in debt which means their cash flow problem gets worse not better. When do they visit the payday loan store? If they are paid for travel time to and from the jobsites they will typically do it on your time. Run the numbers and you will know it takes roughly ten minutes each way for the d

This podcast is episode number 00066 and it will be about Outsourcing Contractor Bookkeeping Services Vs. Jobs Anything Not Related To Your Core Construction Business Is An Outsourcing Candidate These days, contractors are under increased pressure to cut their prices to get enough work. And that means they need to reduce costs. New technologies and new approaches in cloud computing for construction accounting gives forward thinking contractors an amazing ability to get more for less - but in most cases, contractor's heads are still stuck in 1990, thinking they have to do everything themselves. In addition, a lot of in-house bookkeepers are a part of the problem, fighting back hard at the thought of letting any jobs or control goes to someone else. Let’s Review This First, separate in your mind the concept of outsourcing contractor bookkeeping services and jobs because they are not the same thing. For example, suppose you decide to upgrade your contractor bookkeeping software from shoeboxes full of receipts or

This podcast is episode number 00065 and it will be about Why Your Construction Company Needs Bookkeeping When you own a small contracting company, like a residential remodeler, plumber, electrician, concrete contractor, flooring contractor or any other construction related company it is imperative that you have a good clean set of books that are consistent and updated regularly. The Tax Collector Will Not Be Happy With Financial Reports Generated From A Whole Bunch Of Random Transactions Put Into QuickBooks At The End Of The Year Tax preparation, Quarterly Tax Returns, Payroll Tax Returns, Sales Tax Returns are the primary reason contractors need to maintain a detailed set of books, but there are other factors at play. It’s important to know how much money your contracting company is bringing in and how and where the money is going. It is important to compare your results to industry standards to determine where you need to improve your contracting company business model. There is a lot of information to be

This podcast is episode number 00064 and it will be about QuickBooks Support Hold Time I love QuickBooks Because It Does So Much For Contractors! When QuickBooks was first released as a DOS version in 1992 we purchased a copy and tried it and within three months we switched our entire construction division and our bookkeeping service division that served a few small contractor clients from another well-known construction accounting software to QuickBooks and have been happy as clams at high-tide ever since. In the 1990's I found QuickBooks technical support to be absolutely awful and for all practical purposes non-existent. The problem was two-fold; early desktop computers were unreliable and would break-down, lock-up and stop for any number of reasons and QuickBooks was like a two year old child learning to walk which meant it would crash, fall-down, lock-up and stop regularly. Most QuickBooks users who had contacted QuickBooks technical support in the early days would be on the verge of a nervous breakdown

This podcast is episode number 0062 and it will be about Virtual Bookkeepers Vs. Outsourced Bookkeeping At networking events, construction contractors have asked me if we are cheaper than a virtual bookkeeper is. I like to clarify the question by asking if they mean a virtual assistant or a virtual bookkeeper. There is a HUGE DIFFERENCE between a virtual assistant and a virtual bookkeeper. Virtual assistants can be a real asset to any contractor because they have all of the computer hardware, software and office space in their home, which means they can handle a variety of mundane tasks better and faster than most contractors, can and they can do it for a lot less money. Moreover, they do not need access to any of your sensitive financial data. The time contractors save can be used to do things only they can do like meeting with clients, scheduling jobs and riding herd over apprentices. In short, doing the $50 to $100 an hour work and outsourcing the $15 to $25 an hour work to a virtual assistant makes sense.

This podcast is episode number 00061 and it will be about Sean Kavanaugh's Unique Plumbing and Mechanical Contractor Insights The Following Is An Outline From Sean Kavanaugh's Guest Appearance On The Contractors Success M.A.P. Podcast which you can listen to below. It is on iTunes, Stitcher Radio and all popular podcast directories. ----------------------------------------------------------------- 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 Building, Water Tower Place, Marina Towers (Think Bullet with Steve McQueen) and many others. I was hire

This podcast is episode number 0060 and it will be about Which QuickBooks Cloud Option Is Best For Contractors? We Recommend QuickBooks Online When The Business: · Is run like a hobby· Not a construction company· Does not need full QuickBooks· Owner sole focus is saving money· Basic simple reports are all you need· Businesses with less than three employees· The owners enjoy doing everything themselves· The owners have lots of free time to learn software· They do not fit our client profile of contracting for profit We Recommend QuickBooks Desktop Version Cloud Computing When The Business: · Is a construction company contracting for profit· Needs Job Costing reports and solid Financial Reports· Needs the power of the full QuickBooks Desktop Version· Is focused on saving money with innovations and cost control· Is open to implementing a Business Plan designed to increase sales QuickBooks Cloud Computing Has The  Same QuickBooks Desktop Features Because It's QuickBooks Desktop Running On A High-Speed Secure Cloud

This podcast is episode number 0059 and it will be about Emergency Contractor Accounting Services Do You Have A QuickBooks Emergency? Did QuickBooks Gets Messed Up And You Need It Fixed Now! Call Sharie 206-361-3950 or sharie@fasteasyaccounting.com and explain your situation! We have a system for cleaning up QuickBooks that is Fast And Easy! 1. Nobody here will lecture on what went wrong or ask silly questions! 2.Your tax preparer refuses to prepare your tax return because your QuickBooks is a mess! 3. Your customers refuse to pay until you provide an Invoice that makes sense! 4. You need an Invoicing Service to prepare and mail or email your invoices for you! 5. You don't know for sure who owes you money because they are waiting for your Invoice! 6. You don't know for sure who you owe money too and if they are double billing you! 7. You need to get a bank loan and they are asking for Financial Statements! 8. You need a performance bond and the underwriter needs Financial Statements! 9. QuickBooks is a jumble

This podcast is episode number B001 which means it is a bonus episode and not in our regular Friday rotation. It is about The Hard Truth Of Owning A Construction Company Contractors Are Our Heroes! The rough and tumble world of construction company ownership is not for the weak or the timid. It is an arena where the price of admission is a lot of blood, sweat, tears, and long nights and lost sleep, with peaks of enthusiasm and depths of despair. It can feel like riding a roller coaster operated by a mad man trying to convince you to get off, get out and go do something more relaxing like teaching a pig to sing! If you work it right you can end up with a construction company that is like a money tree that can take care of you and your family for a lifetime and leave a legacy for your heirs. To get to the truth about your construction company you must go on a journey. It is four levels deep and like most successes in life it is simple but not easy. The Four Levels Number One - What contractors want to hearNumb

You Started Contracting To Have Fun Be Your Own Boss And Do The Work You Love Now you are overwhelmed with paperwork and the fun is gone! Just because you don't fully understand everything, you need to know about running a construction company doesn't mean you shouldn't be paid a fair price for your work! Do You Feel Like These People Are Trying To Take Advantage Of You?·    Customers·    Employees·    Suppliers·    Taxes·    Banks·    Credit Card Companies·    Incompetent Bookkeepers·    Embezzlers·    Scam Artists·    Lead Generators If you do you are not alone, many contractors feel that way. Owning a construction company is so much different from just working for another construction contractor and in most cases, new contractors had no idea what was involved in the business end of the operation before they started. Did You Make The Following Mistake? You trust your wife so your stuck her with all the back office work and administrative tasks and paperwork because how hard could it be for her to: · Answer

This podcast is episode number 0057 and it will be about Construction Apprentice Thinking Patterns This podcast will focus On Construction Apprentices and how they think. It is my intention to offer some useful insights to all Journeymen in all of the construction trades and all owners of small construction companies. “If you know the answers, the questions will not bother you” Randalism Construction Apprentices are one of my most favorite groups of construction workers because they provide a never-ending supply of good clean humor. For the record, I have a deep respect and sincerely appreciate all apprentices everywhere for they are the men and women who continually replenish the supply of skilled Journeymen and are vital members of The Greatest Industry On Earth. Having served an apprenticeship in plumbing and passed the Washington State Journeyman Plumber Exam PLO1 in 1981 this article comes from the heart of someone who understands the good times while serving an apprenticeship. After becoming a Journeyma

Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer 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% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is

Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer 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% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is

Let Us Help Reduce Construction Business Start Up Stress New Contractor's Levels of Stress You Quit Your Job - And started a construction business only to discover you need a contractor’s license and bond. Suddenly you realize it costs real money. Now that's stressful. Ask A Friend Or Relative - To loan you some start-up capital and they agree on condition you are partners in the business and each have an equal share. You do all the work they get half the profits and you politely refuse. This is getting very stressful Go To Your Bank - And they offer 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% and they can call the loan due if you miss a payment and take everything you own. This is getting extremely stressful Use Credit Cards - And supplier accounts to finance your new business and be very careful about what you buy. What To Do Next - You have never run a business. The only thing you know is

Twenty One Signs Of Bookkeeper Embezzlement And Steps You Can Take To Help Avoid It! A Google Search - Of Construction Bookkeeper Embezzlement will generate thousands of hits and most of it could have been avoided if the construction owner had known about and followed a few simple guidelines.#01 - Don't Hire A Bad Bookkeeper Click Here For More...#02 - Understand The Employee Theft 10-10-80 Rule - Discovered over many years of experience and first hand observation by auditors, accountants, fraud examiners, anyone involved in detecting employee theft.Ten Percent - Of all employees including bookkeepers will steal in a variety of ways from office supplies, petty cash, graft, kickbacks and payoffs from your suppliers, vendors and sub-contractors and even hundreds of thousands or even millions of dollars. They will do it regardless of how many security systems are in place because they lack integrity and have an "taker's" entitlement paradigm that states: "It Is Better To Take Than To Make". They cannot be stopp

Back office support can make or break your construction company and that’s where we come in. We can do you the most good by bringing order to your chaotic contractors bookkeeping mess! Most of our clients come to us because they believed they needed someone to straighten up their contractors bookkeeping sevices system, help them get current or quarterly payroll tax filings, sales tax returns and a variety of other tax issues. That is only the tip of the iceberg!  The real value in working with us is not just getting you out of trouble now but keeping you out of trouble in the future so that you can focus your time and energy where it will do you the most good…acquiring profitable and pleasant customers and clients and satisfying their needs.  Warm Regards, Randal DeHart | Premier Contractors Accountant http://www.fasteasyaccounting.com/contractors-success-map/ This is one more example of how Fast Easy Accounting is helping construction company owners just like you put more money in the bank to operate and gro