• Yvonne Root

Taming the Construction Accounting Beast




Purrrrfect Construction Accounting

Few industries require as much knowledge and expertise concerning the accounting beast as construction contracting. It isn't as simple as money-in-money-out.

As a matter of fact, with the construction accounting beast, going from ROAR to Purrrrrr takes skill, competence, and fortitude.

And while running your construction business may sometimes leave you feeling like you're the Ringmaster in a three-ring circus, it is the accounting that takes center stage.

And oh my! The folks in your audience run the gamut from the IRS to the wife of the guy you just hired to sweep up the mess on the job sites. Everyone wants to know that you're dotting the "i" and crossing the "t."

Step Right Up!

"Step right up, ladies and gentlemen, and children of all ages, the solution is about to begin!"

And you may be surprised to learn that one of the solutions offered by The Profit Constructors is DIY. That is, Do It Yourself. Or, more likely, let your in-house staff do it.

But because we know the difficulty associated with taming the construction accounting beast, we have no intention of leaving you in the center ring with no tools of the trade. You know, things like a whip, a stool, and a handful of tasty snacks. 馃槈

The other solution we provide is MODIFY. But I'll get to that in a minute. Let's start with DIY.

DIY

The DIY system is for the group of contractors who need to periodically or sporadically access the knowledge and expertise of The Profit Constructors team. This group of construction business owners can choose a subscription-based plan giving them access on an as-needed basis.

Here are some of the ways our DIY system gives you the right tools:

路 Saves time when you stop searching google with questions like, "How do I . . . ?"

路 Gives knowledgeable guidance concerning resources as well as strategies

路 Provides advice and recommendations concerning accounting dilemmas

路 Moves you down the path of completing daily, weekly, and monthly accounting actions

MODIFY

The other solution we provide is MODIFY. That stands for Make Others Do It For You.

This solution is for construction business owners who prefer to outsource their construction accounting and operations accountability needs. (There is more concerning the operations accountability solutions we offer, and I'll discuss that in the next post.)

I asked The Profit Constructors team members to give me an idea of the types of things they do for our MODIFY clients. BTW, I put their list in alphabetical order. Ready for this?

1099s

Account reconciliations for all balance sheet accounts

AIA style billing

Annual budget review

Cash Flow Management

Coding invoices

Cost allocations

Customer invoicing

Entering deposits in accounting software

Entering invoices

Garnishments

Job budgets

Job Costing

KPIs and reporting (Key Performance Indicators)

Liaison with CPA for year-end compilations

Paying invoices

Payroll accountability and submissions

PO Management (Purchase Order)

Receiving customer payments

Service invoicing

Vendor Management

Vendor Reconciliations

WIP Reporting (Work in Progress)

Take a deep breath. Whew!

Learn more

You can learn more about which solution is best for you by getting in touch. Give us a call Toll-Free: 866-629-7735 or email us at hello@theprofitconstructors.com to set up a complimentary appointment to discuss your needs.

The Profit Constructors provide Construction Accounting and Operational Accountability for small to medium commercial construction subcontractors.

Our services allow you to organize your operations so you can

Remain informed

Avoid hassles

Reduce risks

And we desire to familiarize you with business concepts, which will make it easier for you to be a better commercial construction subcontractor through our blog posts.


So you can Run With the Big Dogs! Call us 866-629-7735

漏 2020 by Schulte & Schulte dba The Profit Constructors 

610 East Bell Road, Suite #2-612

Phoenix, AZ 85022-2393

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