This Podcast Is Episode Number 439, And It's About Understanding Roles And Why It Makes Sense To Hire Us I will start by quoting a short sentence found in the all-time best-seller "Basic Instructions Before Leaving Earth" That is an acronym; take the first letter of each word and put it together to form a different word. "No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other.." there is more to that, and the point is that concept applies to accounting.   How many times have you hired someone with the expectation they knew how construction works, and then you found out they did not have a clue about it or your particular type of construction? It happens all the time, and the first thing that crosses your mind cannot be posted on this blog. We know how much you would like to take action and fix it immediately. But before you do all that, let's go back to understanding roles to know which one you need.   Three Skill Sets = Three Types Of People Bookkeeper The primary role of a bookkeeper is to handle a company's day-to-day financial management. A bookkeeper will take care of the small but essential details essential for providing an accurate picture of where a business stands at any given moment. In addition to a bookkeeper's main job – making sure every financial transaction is accurately recorded in the general ledger – they may also take over other critical tasks like invoicing, paying suppliers and vendors, and processing payroll. Ideally, a construction company's books are updated at the end of each business day, so you always have an accurate account of your sales, expenses, and the bottom line. However, if your business is still in its early stages, without much financial activity or the funds to hire a bookkeeper, you should aim to reconcile your accounts at least once a week. Accountant An accountant's primary role is to help companies make sense of their numbers for strategic planning - analyzing, summarizing, interpreting, and reporting financial data to provide "big picture" business advice. As a construction business owner, you'll want to work with an accountant from very early days to help with budgeting, forecasting, and decision making – as well as for strategic tax advice and identifying opportunities to reduce costs and maximize profitability.  Many business owners think they only need to talk to their accountant once a year at tax time. But to be able to gauge the health of your business - and make the most of your accountant's expertise - it's recommended you check in at least once a month. Your monthly meeting is a chance to review key reports, like your profit and loss statement, discuss opportunities or areas of concern, and get timely advice to help meet the goals you've set out in your annual business plan. Certified Public Accountant The C.P.A.'s primary function is to prepare the annual tax return, perform audits, and prepare Certified Financial Statements for bank loans when a construction contractor requires them before issuing a construction bond. Keep in mind that most Certified Public Accountant accounting specialists can do all accounting for most standard businesses that only need regular accounting but not construction accounting. Construction company owners who think it's costly to hire a construction accountant and would instead only seek a C.P.A.'s help might be in for more business damage in the long run. What C.P.A.'s Do And What Construction Accountants Do   Why it makes sense to hire us We pride ourselves on employing the most competent construction bookkeeping professionals and ProAdvisors in the business. Our employees have passed our extensive test, a thorough background check, and a personality screening process. Most of our employees have over 10,000 hours of bookkeeping experience. This level of expertise is tough to find when seeking a part-time employee. ...