0396: Answers To Frequently Ask Questions About Our Bookkeeping Services

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By Randal DeHart and Randal DeHart | Construction Accountant |PMP | QPA. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.
This Podcast Is Episode Number 0396, And It's About Answers To Frequently Ask Questions About Our Bookkeeping Services One of the biggest concerns contractors have about outsourcing their 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 precisely what occurs. Many contractors would like to subcontract out their bookkeeping services, and the two main reasons they don't is - fear of losing control and cost. To paraphrase an old quote and adapt it to the construction industry, "It is not the strongest, toughest, hardest working construction contractor that survives, nor the most intelligent among them. It is the construction contractors that are most adaptable to change."

One of the Best Practices in any successful company is to do what you do best and outsource the rest. Why it makes sense to hire us? I listed your top concerns and addressed it below:

Do you understand Construction Accounting?

We have been construction accountants for a long, long time and around construction even longer.

Here is a video to better explain the difference between Construction Accounting and Regular Accounting.

Each construction company has common issues; the solutions are customized to fit their individual needs. Our niche is the small construction contractor, US-based and usually family-owned, with zero to 10 employees, including owners.

We want lots of reports. What do you offer?

Yes, we can provide you with reports inside QuickBooks, and we have a way for you to get reports without ever seeing QuickBooks. We can assist you in getting a better understanding of your financial statements.

We use QuickBooks for Contractors, and our customized QuickBooks setup is designed to facilitate built-in job costing reports plus being able to export to our Excel-based pay application nicely.

I keep losing money on change orders. Can you help stop the money leaks?

We have a process for managing change orders. Getting signed change orders can make a significant impact on the bottom line. Those tiny changes (up or down) in a project can add up, and we have a process for that too!

How involved do I need to be?

In All Cases - the owner should have a "hands-on" approach, including paying the bills because we do not touch your money.

It is optional for our clients to have 24/7 access to their QuickBooks files and review their Key Performance Reports / financial reports daily. We continually improve processes to make other reporting methods available. With us handling the contractors bookkeeping services tasks, your in-house staff is free to work on more productive tasks and do what they do best.

Who should be doing the construction bookkeeping?

Our contractors bookkeeping services system is as simple as taking over the daily bookkeeping, providing a platform for good habits as we advance, and acting as a support role for your current bookkeeper. The Key is "knowing who should be doing what" - Too many helpers helping in your QuickBooks contractors file may not be helpful. For some companies, their in-house person is fine and just needs a good foundation by having us do the QuickBooks Setup, and they can enter the construction accounting transactions.

I want to keep my tax accountant.

Great! We do not offer annual tax preparation services, just Quarterly Tax Returns. Your annual tax return should be done by a qualified tax preparer whose focus is your "Whole Life" business and personal, and we can work closely with your tax accountant to make sure they have what they need. By the way, your tax accountant is part of your Board of Advisors that you are paying for already.

One of my competitors is doing better because he has a business coach.

We provide some consulting, some coaching, and some operational assistance in processes designed to help you grow. It's automatically part of the services for our outsourced clients.

What is the process for outsourced accounting?

We work from the first dollar in on January 1st to the last dollar spent on December 31st and all of the transactions between customer invoices, bills paid and unpaid, payroll issues, reconciling bank and credit card statements, knowing what to look for on your vendor statements and more.

What if your outsourced accounting services don't work for my business?

We offer Flat Rate pricing, no surprises, no heartache, no regrets, no long term contracts, month to month, cancel anytime. Our agreement has no minimum time commitment clause. You have our service for as long as you need it. There is nothing to lose.

Can we chat and get to know each other without it costing much money?

Absolutely! We offer a free one-hour consultation, and if it takes a little longer, that is O.K. too! The relationship between you and your accountant is one of the most important business relationships you will ever have because we know what works and what doesn't.

Fill out the form on the right (below this post if you're using a mobile phone), call 1-800-361-1770, or email me at sharie@fasteasyaccounting.com.

I hope that helps with your decision-making and find the right construction bookkeeper for your company. We believe contractors deserve to be wealthy as you add value to people's lives. If you believe it too, it will happen regardless of whose services you engage, including ours. Celebrate Life for every day is a good day no matter what happens; tomorrow is a new day.

About The Author:

Sharie DeHart, QPA is the co-founder of Business Consulting And Accounting in Lynnwood, Washington. She is the leading expert in managing outsourced construction bookkeeping and accounting services companies and cash management accounting for small construction companies across the USA. She encourages Contractors and Construction Company Owners to stay current on their tax obligations and offers insights on how to manage the remaining cash flow to operate and grow their construction company sales and profits so they can put more money in the bank. Call 1-800-361-1770 or sharie@fasteasyaccounting.com

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