This Podcast Is Episode Number 0255, And It Will Be About Choosing The Right Construction Accounting Solution For Your Company Choosing From Many Construction Accounting Solutions Available Finding a solution that will do “All I Need It To Do” This is the challenge for Construction Contractors. One of the most basics is pad and paper. Write out your proposals on a piece of paper and give it to your client when presenting a Bid, Estimate, List of Material, Invoice, Receipt For Payment. It is Simple, and it works. I remember the 13 Column Pad and a good calculator with paper tape. Happiness was when all the columns added up and matched both directions “The First Time.” Moving up using the paper method is a pad of carbonless forms. They come in assorted sizes and are blank and ready for you to customize as needed. You can order carbonless forms pre-printed with your letterhead and some of your standard items. For an additional fee can have the Disclosure or Notice To The Owner preprinted on the back and other statements regarding warranty printed on the front.   One sub-contractor put a copy of his logo with contact information on a blank piece of paper and photocopied it over and over again and used it as an invoice. Yes, I asked – the office used QuickBooks and translated his handwritten “stuff” into real information). Easy to create an invoice “On The Fly.” Moving into a little more technology; I remember Contractors using Quicken Home and Business. It worked for awhile but discovered that for financials statements Tax Accountants felt it gave them “something” saying that “something was better than nothing” (author unknown). Making your reports Hard on everyone around you may not have the best result. Missed deductions, higher fees charged.   Your Tax Accountant wants to help you save money and pay only what you should be paying in taxes. It is a challenge if your Tax Accountant does not have a clean set of financials, Profit & Loss and Balance Sheet Reports for the previous year. Tax Accountants are dedicated professionals able to keep track of the Tax Code and how it will impact you, me, your friends, family, and neighbors. Each tax return is a little bit different and in the end, Tag Your Tax Accountant is it.   Besides the Internal Revenue Service, Social Security, every banker whether you are applying for a Car Loan, Credit Card, Buying A Home is looking at your financials. Some software can give necessary information, and it might be “just enough” for the Tax Accountant to do you are Annual business and personal taxes. Best foot forward. I have had New Clients come to me because their existing Accounting file was a MESS or they were using software that their banker was not easily able to explain the financials to the Loan Committee.   Bankers are usually polite when they say No and may not be comfortable in telling you the real reason is they had to present the most easily explainable financials to the Loan Committee. You could be the most profitable and financially worth the risk – but the aggravation of messy paperwork may not be worth it for them to try. They need to keep in mind outside factors of “how they look” and most positive reviews.      Some Construction Contractors have downsized their accounting system. Before the downturn of the economy, they had a more substantial Construction business, employees, in-house staff and specialty software. Hats Off to everyone who made it, challenges and all. Last year was better than the previous years. This year is looking much better for almost everyone I am talking too. Thanks to the hard work of all.   Let Me Share A Little Bit About Our Different Services. We Are Much More Than Just Contractor Accounting We support Outsourced Clients using QuickBooks Desktop. Use QuickBooks Desktop in a “cloud environment.”   QuickBooks Desktop in the cloud is not the same as...