#contractor

Yvonne Root

Apr 22, 2020
4 min

Did You Hear the One About

There I was, scrolling through a personal social media account when I saw what I was certain was just one more post telling me how to live my life during the Coronavirus pandemic. Who needs another set of Coronavirus guidelines? Not me! And, probably not you. But that word, “maybe” and that question mark in that first line made me pause. I read. So should you. It is time for a bit of mirth. FOLLOW ALL OF THESE, maybe? Here are the official Coronavirus guidelines: Basically, y

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Yvonne Root

Apr 8, 2020
3 min

Being Profitable

Every Monday morning, The Profit Constructors’ social media posts are routinely filled with something akin to an Irish blessing. They vary slightly week to week, but typically they look like this, “May your coffee be strong, your influence be ever-growing, and your week be profitable.” It is that last portion of the “blessing” we’re discussing today. That part about being profitable – because it never varies. Those are the same words week after week. Even during the Coronavir

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Yvonne Root

Sep 25, 2019
3 min

Safety and Your Construction Crew

Safety counts The most important tool in your “safety toolbox” is found in the minds of your workforce. Therefore, the first hurdle to overcome is the mindset which incorrectly identifies safety and productivity as enemies of one another. Consequently, it is your job to make certain your subs and employees understand that safety and productivity walk hand in hand. From the human point of view, no one wants to see someone be injured or killed. That simple. In addition, from th

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Weathering Financial Storms in Your Construction Business

Yvonne Root

Aug 28, 2019
3 min

Weathering Financial Storms in Your Construction Business

Financial storms in varying sizes Financial storms can be minor or they can be devastating. Think of the way dust devils and tornados create different levels of damage. However, even a dust devil can grab and keep your attention when you’re in the heart of it. Financial storms are real Joe, Tonya, and I were having a chat. Consequently, this post was born. I mentioned I had come across another wayward piece of information. In short, the owner of an accounting service declar

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Be a Visionary Construction Subcontractor

Yvonne Root

Feb 20, 2019
5 min

Be a Visionary Construction Subcontractor

Be a Visionary Construction Subcontractor Think like a Visionary Construction Contractor You might think that because we’re construction accounting specialists that we would want you to frame your vision with numbers. And frankly, we often do. Yet, on this occasion we’re suggesting you take a step back from the numbers and look at what being visionary means in a different light. Setting goals, planning out the numbers, determining profit or loss are all part of what it takes

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Counting the Cost in Construction Accounting

Yvonne Root

Feb 13, 2019
3 min

Counting the Cost in Construction Accounting

Counting the Cost in Construction Accounting Counting the Cost in Flood Waters There is an interesting law here in Arizona which is known by the name, “Stupid Motorist Law.” It says something to the effect of “any motorist who becomes stranded after driving around barricades to enter a flooded stretch of roadway may be charged for the cost of their rescue.” Apparently, the law can be found in Arizona Revised Statutes section 28-910. Also, just as apparently, the law isn’t reg

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Employee or Independent Contractor? Recommendations for Compliance

Yvonne Root

Jan 24, 2018
4 min

Employee or Independent Contractor? Recommendations for Compliance

The following is a guest post courtesy of Lynda McKay owner of HRextension. The construction industry has been and continues to be under the microscope when it concerns how employers pay workers: as employees (W4) or as independent contractors (W9 or 1099ers). The two governing entities that regulate and monitor this are the Department of Labor (DOL)/Wage & Labor/Fair Labor Standards Act (FLSA) and the Internal Revenue Service (IRS). Both federal agencies only provide ‘guid

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5 Simple Ways a Tradesman Makes the Mental Change to Become a Scaling Business Owner

Yvonne Root

Aug 22, 2017
2 min

5 Simple Ways a Tradesman Makes the Mental Change to Become a Scaling Business Owner

Before we get to the 5 simple ways to work through the mental change let’s look at an example of how mental changes or growth require process. Teaching your kids kindness A friend of mine once commented she would like to be able to add “kindness” to a list of traits she could teach her young children. She would like to be able to jot “Teach Kindness” on the list, teach the kindness trait, then check it off. If you have young children, or if you’ve simply been exposed to the d

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17hats: All-in-One Business Management Software

Yvonne Root

May 25, 2017
3 min

17hats: All-in-One Business Management Software

In this monthly post, it’s my pleasure to introduce you to one of the many apps that we at Schulte and Schulte endorse and recommend to our customers. As a firm of construction accounting specialists, we love to help companies in the construction industry with their books and finances, part of that help is finding different apps or software that can help our clients out. During this monthly feature, we take a look at several apps that we love at Schulte and Schulte, LLC, and

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Yvonne Root

Mar 28, 2017
2 min

Job Close Out – Why it is important

What difference does it make? Whether your job lasts a few hours, a few months, or a few years there is still always a Job Close Out to deal with before the final payout arrives. It doesn’t matter if you’re trying to please a general contractor, a home owner, or a building inspector there is still the bottom line – is everything done, finished, complete? I’m not talking about a punch list, although a punch list will sometimes be a part of the process. I’m talking about the mo

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JOBBER: Business Management Solution for Field Service Companies

Yvonne Root

Mar 23, 2017
2 min

JOBBER: Business Management Solution for Field Service Companies

At Schulte and Schulte, our passion is in working with any company that fits under the construction umbrella. This includes construction service businesses like plumbers, HVAC techs, roofers, landscape techs, etc. Some of the apps that have been, and will be, featured in this blog series are feature filed and do have elements that would be beneficial to construction service businesses. However, we feel strongly about finding an app or software solution for each of our clie

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Construction Contractor, Got a Problem with Your Financial Reports?

Yvonne Root

Mar 8, 2017
2 min

Construction Contractor, Got a Problem with Your Financial Reports?

Do your financial reports measure up? Because your financial reports should tell you much more than what you’ve already done. Because your financial reports are more than numbers for the tax-man or the banker. Because your financial reports are all about guiding you to scale your business. We’re glad you stopped in. Check Us Out! Since Schulte and Schulte, LLC came into being we’ve been construction-accounting-centric. We have knowledge and understanding concerning what const

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The Nuts and Bolts of Organizing Your Truck, Van, or Supply Trailer

Yvonne Root

Feb 27, 2017
3 min

The Nuts and Bolts of Organizing Your Truck, Van, or Supply Trailer

Construction Contractor, have you found your tools are always yelling at you because the wife and kids take up way too much room? Well, here are some ways you can get them to calm down – the tools, not the wife and kids. Standardize the Process It doesn’t matter if you have a single pickup or a fleet of vehicles ranging from box trucks to vans to tool trailers, having organized tool and supply transportation is the key to hitting the jobsite ready to roll. Plus, consider this

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KNOWIFY: Manage Your Entire Contracting Business in One Place

Yvonne Root

Feb 23, 2017
2 min

KNOWIFY: Manage Your Entire Contracting Business in One Place

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Before You Give the Paper To-Do List a Pink Slip Consider This

Yvonne Root

Feb 14, 2017
6 min

Before You Give the Paper To-Do List a Pink Slip Consider This

Yes, you know high on our priority list at Schulte and Schulte is helping our construction contractor clients ditch the paper. Yet, here I am saying, “No! Get some paper and a pen. We’ve got work to do.” Sometimes scaling your contracting firm is aided by something as simple as a pen and a piece of paper. The truth is, there are a number of reasons for putting pen to paper when it comes to the short list of action items you need to be reminded of each day. I’ll mention the fo

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5 Bookkeeping Mistakes Made by Construction Contractors

Yvonne Root

Jan 30, 2017
3 min

5 Bookkeeping Mistakes Made by Construction Contractors

Because you own or manage a construction contracting business, you have a legitimate desire to oversee every aspect of that business yourself. Yet even the savviest contractor sometimes makes mistakes, especially when it comes to bookkeeping. There’s no question that maintaining accurate financials is a fundamental part of maintaining a healthy contracting business. And, being aware of the most common bookkeeping mistakes can save you from time loss, headaches, and even poten

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The Contractor’s Guide to NOT Failing in the 1st Five Years

Tonya Schulte

Nov 3, 2016
1 min

The Contractor’s Guide to NOT Failing in the 1st Five Years

#accounting #construction #statistics #credit #technology #bookkeeping #bookkeeper #money #cashflow #contractor #CPA #plan

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Playing Like One of the Big Boys Just Got Easier (3 Apps to Choose From)

Tonya Schulte

Aug 26, 2016
6 min

Playing Like One of the Big Boys Just Got Easier (3 Apps to Choose From)

You can utilize the same powerful tools and resources at a decent price. This is because, thanks to the advent of cloud technology, many tech companies are moving to the subscription based model rather than selling individual pieces of software. The advantages for small businesses are tremendous. The old methods of software development made it much harder to scale a piece of software for various sized businesses and needs. So, many of the more powerful software choices were e

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3 Things Contractors and Sub-Contractors Should Be Doing in Their QuickBooks Software

Tonya Schulte

Jul 26, 2016
3 min

3 Things Contractors and Sub-Contractors Should Be Doing in Their QuickBooks Software

Here are just three of the things that EVERY contractor who uses QuickBooks ought to be doing in their QuickBooks program: Estimating Anyone who has ever created a bid for a job knows that it can be a very intimidating process – everything from stressing over whether or not you have the right projected costs, to anticipating material delivery times, to making sure you are properly accounting for overhead can contribute to an overwhelming process. Here is where it is good to

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Construction Progress Billings – How and Why?

Tonya Schulte

Jul 4, 2016
4 min

Construction Progress Billings – How and Why?

G-702 – AIA Official Billing Form What is Progress Billing? A progress billing, simply defined, is work done under contract which is billed in phases. Rather than submitting one invoice, either before a project begins or upon completion of a project, the contractor will submit a number of billings to the owner of the project over the course of work as various items are completed. When should a Progress Bill be submitted? As often as agreed upon between the sub-contractor and

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