This Podcast Is Episode Number 0190 And It Will Be About Contractor CFOs Struggle To Achieve Valuable QuickBooks Reports Contractor CFO’s are in a constant struggle between having all of the documents needed for data entry and providing the tools for the Office Manager | Bookkeeper need to do the job. Owners want answers to the following questions Am I making any money? Where am I making any money? Why isn’t there a report that at the push of the button gives me all the answers? When Your Company Was New, The Answers Were Not As Important As They Are Now The CFO wants to provide the answers; goes to the Office Manager | Bookkeeper and asks why don’t we know the answers to these questions. Depending on the answers received whether the CFO goes away happy or just goes away. If the CFO is happy then goes back to the Owner and gives the explanation as to why the reports are accurate (based on information in QuickBooks) If the CFO may realize there is a problem and discusses with the Office Manager | Bookkeeper on changes needed to improve the reports presented to the owner. If the CFO realizes that the bottleneck in good reports is with the incoming documents; then the answer is going back to the Project Manager or other Field Staff to make changes. “Garbage In = Garbage Out.” The Office Manager | Bookkeeper cannot provide reports when the incoming receipts are not coded to a specific job or time cards are sloppy and excess time is spent trying to figure out when and where the field staff spent their time. It is very frustrating to try and read scribbled time cards or guessing. Newer phones have a schedule feature, so most employees always know to the minute how many hours have been worked in any given time period. It is only the Office Manager | Bookkeeper who is in the dark. A Good CFO Has To Make The Business Case That Better Equipment Will Save Time And Money Good equipment for the Office Manager | Bookkeeper will help make their job easier and more productive. An example is a newer computer, with large dual or triple monitors, dedicated scanner and a printer with built-in memory. Most Televisions can act as computer monitors. Larger screen saves on eye strain and headaches which makes staff more productive which makes you money and increases cash flow. Software should include the current version of QuickBooks, Adobe Software, Microsoft Office, Cloud-based CRM and Cloud based Construction Time Cards For Smart Phones. Payroll is a project that needs to be done accurately and can take hours to complete. We recommend T-Sheets for time cards; because when used properly it will produce historical data on jobs. T-Sheets can eliminate the chaos to employee timecards. Employees enter from any phone. For Construction Contractors Across The U.S.A! When Are You, The Contractor Part Of The Problem Instead The Solution? It’s too easy for an Owner to think that office tools as “Just An Expense” and are not needed to be upgraded. The computer is not broken, there not need to upgrade QuickBooks (it never changes). Let’s not forget that squeaky chair that won’t turn and the 19” computer still works (ignore the green tint) Why Do You Have A Smart Phone Instead Of The Old Flip Phone? Field tools are a given. The truck has a rack for ladders and lumber. Vans have shelves and bins; is tall enough to stand up in which will save wear and tear on employee's knees. Less strain on knees can save or postpone possible Worker’s Compensation claims. Worker Comp claims lead to increased premiums. Once the Tools and Equipment are updated, then it is much easier to see which employees are productive. In the Field – Who is bringing their jobs in on time, under budget is good. Jobs without any warranty work and having signed billable change orders adds to the bottom line. A Good CFO Can Determine Which Employees Are Worth Investing In Additional Training Office Managers | Bookkeepers, fall into several categories: Productive...