0154: Unique QuickBooks Features Contractors Need To Succeed

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 Answers
You 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 routines, pleaded with it, bought and read dozens of books all claiming to have the answers to make QuickBooks do what I needed it to do, called QuickBooks technical support and got nowhere because I only speak English.

After all of that I spent weeks learning the QODBC (QuickBooks Open Database Connector) and how to use it only to discover it's a rabbit hole that never ends. The more you try to make QuickBooks do something you need it to do the deeper you need to go until you wake up and realize you forgot what you were trying to do in the first place.

To make matters worse not only do you need 10,000 Hours Practice To Master Strategic Construction Bookkeeping but nowadays you need to have intense skills in Project Management to wade through the millions of online applications to find the ones that say they work with QuickBooks and then you need a computer science laboratory to test them and tweak them to fit into a Construction Document Collection and Management System.

1. Online Download Banking And Credit Cards That We Put In  QuickBooks
2. Online Bill Payments And We Put The Transactions Into QuickBooks
3. Online Time Tracking And Time Cards Which We Put It In QuickBooks
4. Online Payroll And Tax Reporting Which We Put Into QuickBooks
5. Online Financial Management Reports Which We Put Into QuickBooks

1. Online Download Bank And Credit Card Transactions

Using QuickBooks as an electronic check register is the number one reason contractors buy QuickBooks. You need a way to keep track of your money. Then the banks and credit card companies started offering to download transactions directly into QuickBooks and that seemed like a miracle because of all the time and money you would save in data entry.

Very quickly you found out that downloading transactions from the bank or credit card companies directly into QuickBooks made a "Pigs Breakfast" of your Financial and Job Costing Reports.

We have the answer. Our Contractor Bookkeeping Workflow downloads your bank and credit card transactions into our enhanced Hubdoc Secure Paperless System For Contractors where our Bookkeeping Workflow separates and codes each transaction where our Highly Skilled Team Of Construction Bookkeepers inputs each transaction into the proper place in your QuickBooks Desktop Version In The Cloud.

2. Online Bill Payment System

"Online Invoicing and Bill Pay is the next great leap in productivity since the introduction of the cell phone!" - Randal DeHart, Premier Construction Accountant

Online invoicing and bill paying and is saving construction contractors time and money by streamlining their entire processes which means they and getting paid faster and putting more money in the bank to operate and grow their construction company.

With the optional bill tracking and bill payment services they are increasing bottom line profits by avoiding late fees and taking advantage of vendor discounts which in some cases can generate 36% Return on Investment!

Online bill paying services were originally developed as a way to save individuals and businesses time and money during the bill paying process and have since grown to encompass a whole host of services designed to reduce the need for highly paid office staff.

For example a part-time bookkeeper paid $15.00 an hour will cost you approximately $25.29 an hour after all of the taxes and overhead.

How much time and money would your construction company save if you and your field workers could use a smartphone, tablet, iPhone, laptop or notebook to invoice the job when you are done and email your customer or client before leaving the job? What would it be worth to you in time saved, misunderstandings with the bookkeeper and general aggravation?
 

3. Online Time Tracking And Time cards

Online Time Card Calculator For Construction Contractors Links To QuickBooks Job Costing And Actually Works!

"No more illegible or lost paper time cards, or payroll spreadsheets; TSheets is sweeping business owners and bookkeepers everywhere off their feet with fast, easy, and mobile time tracking for payroll.
With employee hours tracked in real time, employee timesheets are ready for payroll whenever you are. It's delightfully easy time tracking for delightfully fast payroll." - Quote From TSheets Website

4. Online Payroll Processing And Tax Reporting

Getting timecards into QuickBooks and processing payroll can be a big hassle for your construction company.

Timecards come in late causing payroll to be under enormous pressure to meet direct deposit deadlines

Tracking employee bonuses, reimbursements and garnishments take time and money and can cost your company some serious fines, penalties and lost productivity if you don't have handled correctly.

Employee advances and loans that you forget to deduct can drain away your entire profit

The Best Part Is You Decide When To Release The Payroll Checks! Because you never, never, never, never want to let anyone have access to your company bank accounts! That is one of the fastest ways to lose everything you own so do not do it!

Any payroll service or rotten accounting firm that suggests they will keep your payroll and tax deposits in their "Trust Account" do not have your best interest in mind!

No matter what you have been told at the contractors round table you, the business owners are 100% responsible for paying all your payroll taxes no matter what happened to the tax deposit including a bad bookkeeper who embezzled it or an rotten accountant that lost it playing the stock market.

We do not touch your money! We can process the payroll for direct deposit, you can print them on your office printer, we can print them for you in our office, YOU MUST BE PRESENT, you can hand write them from the paystub we send you, whatever is best for you!

We can prepare the payroll tax reports and you decide when and how to pay the taxes!

PS: If you are having issues with back taxes we can help and I mean real help, not the kind you see on television.

 
5. Online Financial Management Reporting For Contractors

The number two reason contractors buy QuickBooks is to get financial reports.
We have come to an agreement with Fathom, the developers of the Financial Statement And Strategic Management Reporting Tool and we have integrated into our Unique Contractor Bookkeeping Workflow System For Contractors In U.S.A.

We feel so strongly about how this tool and all of the ways it can help you operate and grow your contracting company that it is FREE for our clients!

The key difference between this reporting tool and plain QuickBooks financial statements is the data is customized specifically for your Contracting Company and it will help you understand what the numbers mean; where you are making and losing money, so that you can make informed decisions which can increase your cash flow and profits.

This reporting tool has a lot of information with easy to follow explanations in short paragraphs to help you make sense of it all. The goal is to provide you with insights and answers to help you operate and grow your Construction Contracting Company, put additional money in the bank, give you more freedom and greater peace of mind.

If QuickBooks Is Not Giving Useful Reports No Reporting Tool Can Fix That!

What typically happens is you or your bookkeeper spends 100's or 1,000's of hours inputting checks, bills, receipts and other documents and every time you run financial reports something looks strange and you begin to suspect something is wrong with QuickBooks.

After researching the problem you discover your QuickBooks setup was done wrong. Your QuickBooks was setup for a company that needs regular accounting not construction accounting.
 
The Only Solution Is Find someone who can setup QuickBooks for construction! We can help

Call Sharie 206-361-3950

sharie@fasteasyaccounting.com

I trust this podcast helps you understand that outsourcing your contractors bookkeeping services to us is about more than just “doing the bookkeeping”; it is about taking holistic approach to your entire construction company and helping support you as a contractor and as a person.

We understand the good, bad and the ugly about owning and operating construction companies because we have had several of them and we sincerely care about you and your construction company!

That is all I have for now and if you have listened this far please do me the honor of commenting and rating podcast www.FastEasyAccounting.com/podcast Tell me what you liked, did not like, tell it as you see it because your feedback is crucial and I thank you in advance.

I trust this will be of value to you and your feedback is always welcome at www.FastEasyAccounting.com/podcast

This is one more example of how Fast Easy Accounting is helping construction company owners across the USA including Alaska and Hawaii put more money in the bank to operate and grow your construction company. Construction accounting is not rocket science; it is a lot harder than that and a lot more valuable to construction contractors like you so stop missing out and call Sharie 206-361-3950 or email sharie@fasteasyaccounting.com

Thinking About Outsourcing Your Contractors Bookkeeping Services?

Click On The Link Below:

www.FastEasyAccounting.com/hs

This guide will help you learn what to look for in outsourced construction accounting.

Need Help Now?

Call Sharie 206-361-3950

sharie@fasteasyaccounting.com

Thank you very much and I hope you understand we really do care about you and all contractors regardless of whether or not you ever hire our services.

Bye for now until our next episode here on the Contractors Success MAP Podcast.

Warm Regards,

Randal DeHart | Contractors Accountant