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As Construction Demand Heats Up Your Bookkeeper May Leave For Bigger Better Deal

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Here Is What To Do When Your Bookkeeper Leaves You Stranded!

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If This Has Happened To You please stop reading and click on Emergency Accounting call Sharie 206-361-3950 or email her Sharie@FastEasyAccounting.com and get help now!

Every Day Hundreds of construction company owners across the country and around the world are arriving at their offices with a full work-load of projects that "Absolutely, Positively Must Get Done ASAP" only to find their bookkeeper has not shown up and very quickly they realize the bookkeeper is gone. When it happens you have a full blown emergency accounting situation! Click here to read The Most Common Signs Of Embezzlement And What To Do About It!

For Some Construction Company Owner's The Next Slap In The Face All Too Often Is Embezzlement!

The Bookkeeper Has Disappeared - Quit! Found a better job! Moved and left no forwarding address! Evaporated! Abducted by Aliens! Replaced you with a more important contractor! Gave up bookkeeping to go live in the Bahama Islands! Or perhaps they simply retired on the money hey embezzled from your company! Click here to read The Most Common Signs Of Embezzlement And What To Do About It!

All You Know Is Paperwork - Is rising faster than the great flood that carried Noah's Ark along for forty days and forty nights and your business is about to go out of control and end up like a train crashing through a stone wall!

At This Point You Need - Someone to step in and take control of the situation ASAP! NOW! RIGHT NOW! You need Fast Easy Accounting Emergency Bookkeeping Services Call Sharie 206-361-3950 or email Sharie@FastEasyAccounting.com and she will get your business on the right track!

Contractors Bookkeeping And Accounting Specialists

Now Lets Figure Out - What happened that caused you to be here in the first place. This situation reminds of several clients who have experienced similar situations and one client in particular comes to mind that should help bring some clarity and understanding to the situation. The names have been changed and enough details left out to protect everyone's identity. The main characters are Fred and his lovely supportive wife Wilma.

Here Is Fred's Story - He started his construction business doing a few light handyman type projects, building a few fences, updating kitchens and baths, building decks, gazebos and finishing out the basement areas of split-level houses built in the 1970's and 1980's.

Wilma Started Doing - The bookkeeping to help Bob save money on contractors bookkeeping services fees and very quickly she found she hated every minute of it. Contractors Bookkeeping Services are not easy as it looks and it is only a small part of the overall accounting required to operate and grow and successful construction company. Just like framing walls is important; however, it is only part of the carpentry skills required to build a house.

Nobody Told Wilma - And she did not know enough about it to ask about why all accounting is made up of two parts and that Bookkeeping has to be done with both parts in balance at the same time. Performing Contractors Bookkeeping Services without proper training in regular accounting followed up with extensive training in construction accounting is like doing Chinese math in the dark...it can be done, but it is not easy!

  • Internal Accounting - The part that provides information for the Business Process Management system and generates reports for business owners to read and make decisions about what jobs are profitable and what jobs are not and the reasons why it is that way.

And Worst Part Is - She had no idea that Construction Accounting is the hardest bookkeeping of all! It is like herding balloons on a windy day, while wearing a blindfold, with no shoes and socks, in a parking lot, in the summer, at high-noon, with the sun beating down, and the temperature is 109 degrees and rising!

QuickBooks For Contractors Success System By Fast Easy Accounting 206 361 3950

After A Few Months - The bank started bouncing Fred's checks. He tried to explain the situation to the bank how he was going to be paid a large sum of money as soon as he finished the job he was on and his story fell on deaf ears...the bank said unless he had a line of credit they had no choice but to bounce those checks and add those pesky $35.00 bounced check fees and the bad news was more NSF checks were due anytime.

To Add Insult To Injury - Not only did the bank charge hundreds of dollars in bounced check fees but the stores and suppliers that accepted his checks did the same. All of this made a bad cash flow situation worse.

Fred Used A Few Bad Words - And shouted at Wilma blaming her for the bounced checks. He "forgot" she was not hard of hearing". Wilma responded equally loud and angry suggesting he could perform a certain impossible "Circus Acts On Himself" and said "I Quit, you $@!&*#$ go find yourself a bookkeeper!"

Fred And Wilma Met With Us - And a dozen other bookkeeping services. Wilma had worked with QuickBooks so she understood what we were saying and wanted to hire us on the spot. Fred did not understand anything about QuickBooks and kept saying "Bookkeeping is just pushing a few keys on the keyboard; how hard can that be?" In the end Fred decided all of the bookkeeping services were way too expensive.

Fred Searched Craigslist And Found A Cheap Bookkeeper - That charged less than half what any other bookkeeping services firms quoted and here were the results after six months:

  • The cheap bookkeeper managed all the money for the business
  • The cheap bookkeeper filled out several new credit card applications for Fred to use as "Working Capital"
  • When the credit cards came she gave Fred some and kept some for her personal use
  • A number of checks were written to "dummy accounts" in QuickBooks and the checks were deposited into a bank account controlled by the Cheap Bookkeeper.
  • The cheap bookkeeper kept enough money in the bank to avoid bouncing checks
  • None of the bank or credit card accounts were ever reconciled by The cheap bookkeeper

In the end a little more than $100,000.00 had left the company in the form of cash, credit card debt, unfiled and unpaid sales tax payments, unfiled and unpaid payroll tax payments and unauthorized charges on his supplier charge accounts

This was not the worst we had ever seen but it was in definitely in the top fifty

Fred Decided To Come Back - And hire our services because he remembered that in our first meeting I had strongly emphasized five things:

  • We never, ever touch your money! You get paid from your customers, you put the money in the bank and you pay your bills when you are good and ready.
  • We do all the bookkeeping, process payroll, fill out the tax forms, we will sit with you and help you understand what bills you owe; however, we will not make any decisions on who gets paid, how or when. What we will do is make it as easy as possible for you pay everything online or with paper checks. (At our first meeting Fred insisted on having someone else to manage his money, now he understood why it is never a good idea for a contractor with less than $10M in annual revenue because small construction company owner's cannot afford the professional accounting staff and process to reduce theft and now he loves the idea of only he or Wilma controls the money!)
  • We believe it is in your best interest to: "Trust But Verify" Which means trust us that we are doing what is best for you and verify that we are by having someone else prepare your Annual Tax Return that way they will review what we are doing and give you an independent report.
  • We believe all construction business owners need a Board of Advisors to guide them in achieving their definition of success.

Fred's Story Has A Happy Ending - After several years of planning his work and working his plan, and paying attention to the Five Key Indicators his construction company has turned around and is doing very well and Fred is a much wiser man today than he was when we first met.

Profitable Construction Companies have known about the value of outsourced bookkeeping services for a long time and now you know about it too!

We Scan Your Receipts And Invoices link them to QuickBooks transactions where it is appropriate and give you back a CPA-ready packet for your tax return and we provide ongoing Cloud Based Contractors Bookkeeping Services by accountants who understand construction.

Need Help Now?
Call Sharie 206-361-3950
sharie@fasteasyaccounting.com

We Are QuickBooks Experts, Xero Accounting Online Consultants and Bill.Com Certified Specializing In Construction Bookkeeping Services

About The Author:

Randal DeHart, PMP, QPA The Construction Accountant Randal DeHart, PMP, QPA is the co-founder of Business Consulting And Accounting in Lynnwood Washington. He is the leading expert in outsourced construction bookkeeping and accounting services for small construction companies across the USA. He is experienced as a Contractor, Project Management Professional, Construction Accountant, Intuit ProAdvisor, QuickBooks For Contractors Expert and Xero Accounting Specialist. This combination of experience and skill sets provides a unique perspective which allows him to see the world through the eyes of a contractor, Project Manager, Accountant and construction accountant. This quadruple understanding is what sets him apart from other Intuit ProAdvisors and Xero accountants to the benefit of all of the construction contractors he serves across the USA. Visit http://www.fasteasyaccounting.com/randal-dehart/ to learn more.

Our Co-Founder Randal DeHart - Is a Certified PMP (Project Management Professional) with several years of construction project management experience. His expertise is construction accounting systems engineering and process development. His exhaustive study of several leading experts including the work of Dr. W. Edward Deming, Michael Gerber, Walter A. Shewhart, James Lewis and dozens of others was the foundation upon which our Construction Bookkeeping System is based and continues to evolve and improve. Follow Randal on Google+

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