Money is Made in The Back-Office Randal De Hart 285

For our podcast, our fun guest is going to help you make more money and show you how money is made in the back office . We have Randal De Hart, with Fast and Easy Accounting. He’s the co-founder of the Business Consulting and Accounting Agency, and a specialized in providing back office services for construction company. They provide book keeping services, invoicing, payment applications, preparation payroll processing, prevailing wage, monthly realtor, tax reports for construction companies. They’re located in Washington State but they handle companies all over the states. One of their mottos is: “WE REMOVE YOUR CONTRUCTOR PAPERWORK FRUSTRATIONS.”  Way back ‘92,’93 its very obvious that there’s a huge difference between construction accounting and regular accounting. All accounting uses the same equation which is the 3 O’S. The first O is the assets, as a constructor, what do you OWN? The second O is the liability. What do you OWE? The third O is Equity. What’s left OVER? Any constructor would understand this. Regular Accounting: roughly 80% of all accounting for business the world and is concerned with the basic financial reports which are used for preparing annual tax returns and some rudimentary management decisions: Sales- income Cost of GoodsSold – resell of the sales; 4 lines; LMOS Gross Profit Margin – sales minus cost of goods sold gives us gross profit margin. Expenses– Overhead required to maintain business operations; gross profit minus expenses gives us Net Profit.  Construction Accounting Is Roughly 15% Of All Accounting and Accounting with manufacturing making up roughly 5%. So, it is given very little attention in schools, colleges and universities. Labor – what you buy to pay for your employees; taxes and overhead; Material Other – permits; cellphones, fuels and gas; Sub-constructor   Every business owner needs 3 basic report: CASH = Cash on hand PROFIT = Profit and Loss Report EQUITY = Balance Sheet Report; explanation as to why profit is high; explains real money structure Accounting is history. Forecasting in economics is all future. In construction accounting you pull up all the report in our Quickbooks files; this explains that 80% of your profit comes from the 20% of your customer.  If you pull up Job Profitability Report, the top 20% typically don’t complain a lot. Then going to a little bit of demographic and start taking a list which we call the persona of who is that person. Once the constructor already has that picture, he now has to go to the marketing, and markets through that persona. Going through this strategy, he was able to level up his income. The good personality you have and the setup you will have makes a good set up.     You may check out this contact information to get to know more details about Randal De Hart: www.fasteasyaccounting.com PHONE: 206-361-3950 EMAIL: [email protected] www.fasteasyaccounting.com/caa - visit this website for the academy www.fasteasyaccounting.com/podcastbonus visit this website for free bonus and KPI review     There are so many ways to do almost free marketing you just have to think about it or you could just go to the web site and pick up the free download.     4 Hot Marketing Strategies That Can Flood Your Business with Customers       Our sponsors     Would you like your phone to ring more with qualified buyers people looking to buy now? Then let’s make that happen. Best Home Services Leads is dedicated to making your phone ring with qualified buyers wanting to buy now. Go to and fill out the form to get more information.       http://contractorssecretweapon.com/money      How about 100 free postcards sent out to your best prospective customers. Radius Bomb sends out hyper targeted, laser focused postcards using a map while sitting in your under ware at your kitchen table then go to http://contractorssecretweapon.com/radiusbomb      Painting Contractors, get up to a 24% better response rate just for having the right memorable telephone number 1-800-PRO-PAINTER.Check out your area before someone beats you to it and it’s not available. https://www.1800propainter.com/